Financials JD Logistics, Inc.

Equities

2618

KYG5074S1012

Air Freight & Logistics

Market Closed - Hong Kong S.E. 09:08:34 21/06/2024 BST 5-day change 1st Jan Change
8.34 HKD -1.53% Intraday chart for JD Logistics, Inc. -2.11% -14.72%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 121,987 81,129 54,199 47,437 - -
Enterprise Value (EV) 1 108,246 83,408 64,245 51,967 45,641 35,852
P/E ratio -6.76 x -58.1 x 88.9 x 24.5 x 16.5 x 12.1 x
Yield - - - - - -
Capitalization / Revenue 1.17 x 0.59 x 0.33 x 0.26 x 0.24 x 0.22 x
EV / Revenue 1.03 x 0.61 x 0.39 x 0.28 x 0.23 x 0.16 x
EV / EBITDA -172 x 8.53 x 4.4 x 3.44 x 2.67 x 1.91 x
EV / FCF 52.7 x 9.83 x 5.82 x 5.94 x 4.55 x 2.66 x
FCF Yield 1.9% 10.2% 17.2% 16.8% 22% 37.6%
Price to Book 2.82 x 1.72 x 1.13 x 1 x 0.94 x 0.86 x
Nbr of stocks (in thousands) 5,660,170 6,075,430 6,097,253 6,114,038 - -
Reference price 2 21.55 13.35 8.889 7.759 7.759 7.759
Announcement Date 10/03/22 09/03/23 06/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 73,375 104,693 137,402 166,625 183,676 199,426 218,501
EBITDA 1 - -631.1 9,774 14,606 15,098 17,108 18,759
EBIT 1 - -2,975 -242.4 760.2 3,223 4,417 5,498
Operating Margin - -2.84% -0.18% 0.46% 1.75% 2.21% 2.52%
Earnings before Tax (EBT) 1 - -15,600 -814.2 1,619 3,481 4,959 6,515
Net income 1 -4,134 -15,842 -1,397 616.2 2,875 3,446 4,678
Net margin -5.63% -15.13% -1.02% 0.37% 1.57% 1.73% 2.14%
EPS 2 - -3.190 -0.2300 0.1000 0.3163 0.4699 0.6404
Free Cash Flow 1 - 2,055 8,481 11,032 8,752 10,034 13,477
FCF margin - 1.96% 6.17% 6.62% 4.76% 5.03% 6.17%
FCF Conversion (EBITDA) - - 86.77% 75.53% 57.97% 58.65% 71.84%
FCF Conversion (Net income) - - - 1,790.33% 304.42% 291.18% 288.07%
Dividend per Share 2 - - - - - - -
Announcement Date 16/05/21 10/03/22 09/03/23 06/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 48,472 56,221 27,351 31,272 58,623 35,771 43,008 36,728 41,033 41,663 47,201 42,137 44,697 44,727 50,457
EBITDA - - - - - - - - - - - - - - -
EBIT 1 -1,986 -471.6 -874.9 -134.8 - -9.454 776.6 -1,301 477.6 270.2 1,313 87.68 647.3 744.5 964.4
Operating Margin -4.1% -0.84% -3.2% -0.43% - -0.03% 1.81% -3.54% 1.16% 0.65% 2.78% 0.21% 1.45% 1.66% 1.91%
Earnings before Tax (EBT) - - - - - - - - - - - - 755 584 1,004
Net income - -481.6 - - - - - - - - - - 465 276 528
Net margin - -0.86% - - - - - - - - - - 1.04% 0.62% 1.05%
EPS - - - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 14/09/21 10/03/22 17/05/22 23/08/22 23/08/22 18/11/22 09/03/23 11/05/23 16/08/23 15/11/23 06/03/24 16/05/24 - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 2,279 10,046 4,530 - -
Net Cash position 1 - 13,741 - - - 1,796 11,585
Leverage (Debt/EBITDA) - - 0.2332 x 0.6878 x 0.3 x - -
Free Cash Flow 1 - 2,055 8,481 11,032 8,752 10,034 13,477
ROE (net income / shareholders' equity) - -96.6% 0.91% 4.19% 5.6% 7.12% 8.4%
ROA (Net income/ Total Assets) - -24.1% 0.42% 1.81% 3.17% 3.93% 4.88%
Assets 1 - 65,759 -334,667 34,076 90,759 87,602 95,816
Book Value Per Share 2 - 7.640 7.760 7.890 7.780 8.260 8.990
Cash Flow per Share 2 - 1.250 2.220 2.610 2.110 2.780 3.330
Capex 1 - 4,152 4,833 5,320 5,846 5,987 6,280
Capex / Sales - 3.97% 3.52% 3.19% 3.18% 3% 2.87%
Announcement Date 16/05/21 10/03/22 09/03/23 06/03/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
7.759 CNY
Average target price
11.42 CNY
Spread / Average Target
+47.20%
Consensus

Quarterly revenue - Rate of surprise

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