Financials Inspur Electronic Information Industry Co., Ltd.

Equities

000977

CNE0000012M2

Computer Hardware

End-of-day quote Shenzhen S.E. 23:00:00 29/04/2024 BST 5-day change 1st Jan Change
40.91 CNY +6.29% Intraday chart for Inspur Electronic Information Industry Co., Ltd. +9.09% +23.22%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 38,806 39,076 52,087 31,499 48,875 60,225 - -
Enterprise Value (EV) 1 34,131 32,448 50,899 31,772 48,703 64,995 64,571 60,225
P/E ratio 42.1 x 26 x 26.2 x 15.5 x 28.1 x 28.4 x 22.3 x 18.8 x
Yield 0.23% 0.41% 0.39% 0.7% 0.39% 0.52% 0.59% 0.56%
Capitalization / Revenue 0.75 x 0.62 x 0.78 x 0.45 x 0.74 x 0.79 x 0.68 x 0.59 x
EV / Revenue 0.66 x 0.51 x 0.76 x 0.46 x 0.74 x 0.85 x 0.73 x 0.59 x
EV / EBITDA 25.9 x 15.7 x 20.1 x 12.6 x 22.3 x 23.2 x 19.6 x 16.2 x
EV / FCF 79,367,613 x 17,249,322 x -5,999,451 x 46,710,277 x - - - -
FCF Yield 0% 0% -0% 0% - - - -
Price to Book 3.9 x 3.14 x 3.68 x 1.94 x 2.72 x 3.02 x 2.69 x 2.36 x
Nbr of stocks (in thousands) 1,289,252 1,453,721 1,453,721 1,463,710 1,472,135 1,472,135 - -
Reference price 2 30.10 26.88 35.83 21.52 33.20 40.91 40.91 40.91
Announcement Date 17/04/20 14/04/21 08/04/22 11/04/23 19/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 51,653 63,038 67,048 69,525 65,867 76,069 88,325 101,494
EBITDA 1 1,316 2,066 2,534 2,526 2,182 2,796 3,296 3,718
EBIT 1 1,027 1,743 2,153 2,156 1,826 2,238 2,920 3,249
Operating Margin 1.99% 2.77% 3.21% 3.1% 2.77% 2.94% 3.31% 3.2%
Earnings before Tax (EBT) 1 1,031 1,685 2,160 2,160 1,827 2,231 2,836 3,367
Net income 1 928.7 1,466 2,003 2,080 1,783 2,111 2,693 3,193
Net margin 1.8% 2.33% 2.99% 2.99% 2.71% 2.77% 3.05% 3.15%
EPS 2 0.7145 1.032 1.369 1.389 1.180 1.439 1.834 2.177
Free Cash Flow 430 1,881 -8,484 680.2 - - - -
FCF margin 0.83% 2.98% -12.65% 0.98% - - - -
FCF Conversion (EBITDA) 32.68% 91.07% - 26.93% - - - -
FCF Conversion (Net income) 46.3% 128.28% - 32.7% - - - -
Dividend per Share 2 0.0700 0.1100 0.1400 0.1500 0.1300 0.2145 0.2412 0.2300
Announcement Date 17/04/20 14/04/21 08/04/22 11/04/23 19/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 30,113 30,286 32,752 20,800 17,277 17,573 17,916 16,759 9,400 15,397 23,299 17,770 17,607 20,581 21,250 19,877 - -
EBITDA 1 - - - - 543.3 924.8 1,194 - - - - - - 953.2 - - - -
EBIT 1 704.6 - 1,275 635.2 367.1 674 603.9 511.1 220.4 100.3 461.3 1,044 309.3 931.5 - - - -
Operating Margin 2.34% - 3.89% 3.05% 2.13% 3.84% 3.37% 3.05% 2.34% 0.65% 1.98% 5.87% 1.76% 4.53% - - - -
Earnings before Tax (EBT) 1 707.6 - 1,217 635.7 366.8 676.2 606.3 510.6 220.6 103.4 462.5 1,040 306.7 892.7 - - - -
Net income 1 655.5 405.7 1,061 652 334 620.3 591.9 534.2 210.3 115 461.3 996.2 306.5 830.2 - - - -
Net margin 2.18% 1.34% 3.24% 3.13% 1.93% 3.53% 3.3% 3.19% 2.24% 0.75% 1.98% 5.61% 1.74% 4.03% - - - -
EPS 2 0.5000 - 0.7400 0.4500 0.2283 0.4200 0.4100 0.3300 0.1432 0.0800 0.2800 0.6800 0.2082 0.2700 0.4700 0.4000 0.4100 0.4400
Dividend per Share 2 - - - 0.1400 - - - 0.1500 - - - - - - - - - -
Announcement Date 17/04/20 28/08/20 14/04/21 08/04/22 29/04/22 26/08/22 30/10/22 11/04/23 27/04/23 25/08/23 31/10/23 19/04/24 29/04/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 273 - 4,770 4,346 -
Net Cash position 1 4,676 6,628 1,188 - 171 - - -
Leverage (Debt/EBITDA) - - - 0.1083 x - 1.706 x 1.319 x -
Free Cash Flow 430 1,881 -8,484 680 - - - -
ROE (net income / shareholders' equity) 9.79% 12.1% 13.1% 13.4% 9.89% 10.7% 12% 12.7%
ROA (Net income/ Total Assets) 3.38% 4.33% 4.74% 4.77% - 4.2% 4.72% 5.18%
Assets 1 27,502 33,867 42,265 43,611 - 50,253 57,082 61,592
Book Value Per Share 2 7.720 8.560 9.740 11.10 12.20 13.50 15.20 17.40
Cash Flow per Share 2 0.6700 1.600 -5.700 1.230 0.3500 0.9000 1.130 1.090
Capex 1 435 449 194 1,120 290 613 500 553
Capex / Sales 0.84% 0.71% 0.29% 1.61% 0.44% 0.81% 0.57% 0.54%
Announcement Date 17/04/20 14/04/21 08/04/22 11/04/23 19/04/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
40.91 CNY
Average target price
41.87 CNY
Spread / Average Target
+2.34%
Consensus
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