Company Valuation: Hebei Hengshui Laobaigan Liquor Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 28,247 25,070 25,183 20,628 19,201 14,316 14,316 -
Change - -11.25% 0.45% -18.09% -6.92% -25.44% 0% -
Enterprise Value (EV) 28,247 25,070 25,183 20,628 19,201 14,316 14,316 14,316
Change - -11.25% 0.45% -18.09% -6.92% -25.44% 0% 0%
P/E ratio 89.9x 65x 35.3x 30.9x 24.4x 18.6x 16.6x 14.6x
PBR 8.15x - 5.79x 4.29x 3.62x 2.57x 2.4x 2.23x
PEG - 2.8x 0.4x -4.82x 1.4x -9.6x 1.4x 1x
Capitalization / Revenue 7.85x - 5.41x 3.92x 3.58x 2.76x 2.61x 2.52x
EV / Revenue 0x - 0x 0x 0x 2.76x 2.61x 2.52x
EV / EBITDA 0x - 0x 0x 0x 12.5x 11.3x 10.3x
EV / EBIT 0x - 0x 0x 0x 14x 12.6x 11.1x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.15 - 0.3 0.45 0.55 0.58 0.64 -
Rate of return 0.48% - 1.09% 2% 2.62% 3.71% 4.09% -
EPS 2 0.35 0.43 0.78 0.73 0.86 0.8433 0.9433 1.075
Distribution rate 42.9% - 38.5% 61.6% 64% 68.8% 67.8% -
Net sales 1 3,598 - 4,653 5,257 5,358 5,179 5,475 5,685
EBITDA 1 562 - 1,092 1,058 1,153 1,146 1,266 1,396
EBIT 1 434.6 - 934.7 884.4 1,059 1,021 1,135 1,288
Net income 1 312.6 389.2 707.6 665.9 787.1 771 864.6 981.3
Net Debt - - - - - - - -
Reference price 2 31.48 27.94 27.53 22.55 20.99 15.65 15.65 15.65
Nbr of stocks (in thousands) 897,287 897,287 914,747 914,747 914,747 914,747 914,747 -
Announcement Date 28/04/21 28/04/22 26/04/23 26/04/24 25/04/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.78x - - 3.66% 2.1B
20.72x9.22x13.48x3.65% 273B
15.41x3.67x8.04x4.84% 59.55B
17.07x5.37x12.05x3.49% 29.94B
14.29x5.12x8.89x4.86% 25.11B
19.82x3.15x11.12x8.45% 11.99B
56.11x7.51x39.25x0.75% 11.05B
22.2x3.32x13.4x1.05% 9.46B
15.05x2.29x7.68x4.17% 9.07B
15.21x3.62x9.99x3.1% 5.93B
Average 21.47x 4.81x 13.77x 3.8% 43.67B
Weighted average by Cap. 20.08x 7.40x 12.79x 3.88%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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