Financials IKD Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 23:00:00 12/05/2024 BST			5-day change	1st Jan Change
19.14 ^CNY	+0.10%		-1.90%	-12.76%

04-26	IKD Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
04-26	IKD Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,885	13,342	16,527	15,994	19,685	18,443	-	-
Enterprise Value (EV) ¹	11,885	13,342	16,527	15,994	19,685	18,443	18,443	18,443
P/E ratio	26.8 x	31.8 x	53.6 x	25.6 x	23.6 x	16.3 x	12.6 x	10.5 x
Yield	-	1.6%	1.04%	1.26%	1.32%	1.78%	2.18%	2.7%
Capitalization / Revenue	4.52 x	5.15 x	5.16 x	3.75 x	3.3 x	2.42 x	1.93 x	1.54 x
EV / Revenue	4.52 x	5.15 x	5.16 x	3.75 x	3.3 x	2.42 x	1.93 x	1.54 x
EV / EBITDA	15.1 x	16.5 x	22.8 x	12.9 x	10.8 x	8.65 x	7.99 x	5.92 x
EV / FCF	-	-	-	-22.1 x	-34.8 x	-54.9 x	-138 x	72.9 x
FCF Yield	-	-	-	-4.53%	-2.87%	-1.82%	-0.73%	1.37%
Price to Book	2.93 x	3.07 x	3.64 x	3.04 x	3.17 x	2.5 x	2.19 x	1.86 x
Nbr of stocks (in thousands)	852,564	855,285	857,186	878,319	897,222	963,594	-	-
Reference price ²	13.94	15.60	19.28	18.21	21.94	19.14	19.14	19.14
Announcement Date	14/04/20	25/03/21	17/03/22	22/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,627	2,591	3,206	4,265	5,957	7,628	9,550	11,957
EBITDA ¹	786	807	726	1,244	1,821	2,133	2,309	3,118
EBIT ¹	535	474.6	340.4	741.1	1,065	1,299	1,643	2,029
Operating Margin	20.37%	18.32%	10.62%	17.37%	17.87%	17.03%	17.2%	16.97%
Earnings before Tax (EBT) ¹	558.7	490.4	348.9	742.1	1,065	1,302	1,646	2,032
Net income ¹	439.4	425.9	309.9	648.5	913.4	1,127	1,428	1,750
Net margin	16.73%	16.44%	9.67%	15.21%	15.33%	14.77%	14.96%	14.64%
EPS ²	0.5200	0.4900	0.3600	0.7100	0.9300	1.172	1.517	1.815
Free Cash Flow ¹	-	-	-	-724.1	-565.1	-336	-134	253
FCF margin	-	-	-	-16.98%	-9.49%	-4.4%	-1.4%	2.12%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	8.11%
FCF Conversion (Net income)	-	-	-	-	-	-	-	14.45%
Dividend per Share ²	-	0.2500	0.2000	0.2300	0.2900	0.3400	0.4175	0.5167
Announcement Date	14/04/20	25/03/21	17/03/22	22/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-724	-565	-336	-134	253
ROE (net income / shareholders' equity)	11.2%	10.2%	6.94%	13.5%	15%	15.4%	17.5%	17.7%
ROA (Net income/ Total Assets)	-	7.78%	5.07%	7.86%	7.9%	8.61%	9.12%	9.81%
Assets ¹	-	5,477	6,114	8,248	11,555	13,084	15,667	17,844
Book Value Per Share ²	4.760	5.080	5.290	5.990	6.920	7.670	8.750	10.30
Cash Flow per Share ²	1.110	0.8600	0.5600	0.7300	1.460	1.280	1.580	2.010
Capex ¹	381	479	1,083	1,371	1,871	1,258	1,203	1,417
Capex / Sales	14.51%	18.5%	33.78%	32.15%	31.41%	16.49%	12.59%	11.85%
Announcement Date	14/04/20	25/03/21	17/03/22	22/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.14 CNY

Average target price

27.8 CNY

Spread / Average Target

+45.22%

	1st Jan change	Capi.
IKD CO., LTD.	-12.76%	2.55B
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FUYAO GLASS INDUSTRY GROUP CO., LTD.	+38.33%	17.83B
HYUNDAI MOBIS CO.,LTD	-4.22%	14.92B
MAGNA INTERNATIONAL INC.	-18.00%	13.48B
CONTINENTAL AG	-19.32%	13.11B
BOSCH LIMITED	+38.73%	10.73B
SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED	+22.60%	10.36B