Financials Jiangsu Huachang Chemical Co., Ltd

Equities

002274

CNE100000CW5

Commodity Chemicals

End-of-day quote Shenzhen S.E. 23:00:00 12/05/2024 BST 5-day change 1st Jan Change
8.33 CNY -0.24% Intraday chart for Jiangsu Huachang Chemical Co., Ltd -2.34% +10.33%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,219 6,124 4,533 11,941 6,943 7,190
Enterprise Value (EV) 1 5,553 8,126 6,239 12,339 6,576 6,746
P/E ratio 22.7 x 30.4 x 24.8 x 7.39 x 7.96 x 9.85 x
Yield 2.96% 1.56% 2.1% 2.37% 4.12% -
Capitalization / Revenue 0.55 x 0.97 x 0.74 x 1.27 x 0.77 x 0.88 x
EV / Revenue 0.96 x 1.29 x 1.02 x 1.31 x 0.73 x 0.82 x
EV / EBITDA 10.4 x 11.8 x 10 x 4.92 x 4.19 x 5 x
EV / FCF 12.5 x 13.2 x 12.2 x 8.53 x 6.41 x 17.1 x
FCF Yield 7.98% 7.57% 8.21% 11.7% 15.6% 5.83%
Price to Book 1.23 x 2.24 x 1.6 x 2.77 x 1.39 x 1.31 x
Nbr of stocks (in thousands) 952,365 952,365 952,365 942,460 952,365 952,365
Reference price 2 3.380 6.430 4.760 12.67 7.290 7.550
Announcement Date 19/04/19 24/04/20 23/04/21 21/04/22 27/04/23 25/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 5,806 6,315 6,099 9,413 9,045 8,215
EBITDA 1 535.1 690.9 622.4 2,509 1,570 1,349
EBIT 1 218 298.6 225.5 2,098 1,146 900.1
Operating Margin 3.75% 4.73% 3.7% 22.29% 12.67% 10.96%
Earnings before Tax (EBT) 1 181.8 248.3 214.7 2,147 1,117 959
Net income 1 142 201.6 182.6 1,633 872.1 729.7
Net margin 2.45% 3.19% 2.99% 17.35% 9.64% 8.88%
EPS 2 0.1491 0.2116 0.1918 1.715 0.9157 0.7662
Free Cash Flow 1 443 615.2 511.9 1,447 1,026 393.6
FCF margin 7.63% 9.74% 8.39% 15.37% 11.35% 4.79%
FCF Conversion (EBITDA) 82.79% 89.05% 82.25% 57.69% 65.37% 29.17%
FCF Conversion (Net income) 311.89% 305.24% 280.32% 88.6% 117.66% 53.94%
Dividend per Share 2 0.1000 0.1000 0.1000 0.3000 0.3000 -
Announcement Date 19/04/19 24/04/20 23/04/21 21/04/22 27/04/23 25/04/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,334 2,002 1,706 398 - -
Net Cash position 1 - - - - 367 445
Leverage (Debt/EBITDA) 4.362 x 2.898 x 2.741 x 0.1586 x - -
Free Cash Flow 1 443 615 512 1,447 1,026 394
ROE (net income / shareholders' equity) 5.35% 7.36% 6.13% 44.7% 18.1% 13.2%
ROA (Net income/ Total Assets) 2.13% 2.83% 2% 16.9% 8.71% 6.76%
Assets 1 6,674 7,122 9,110 9,677 10,009 10,794
Book Value Per Share 2 2.760 2.870 2.980 4.580 5.240 5.750
Cash Flow per Share 2 0.2700 0.3400 0.4500 0.3500 0.4300 0.6000
Capex 1 57 50.8 89.8 199 65.9 228
Capex / Sales 0.98% 0.8% 1.47% 2.11% 0.73% 2.77%
Announcement Date 19/04/19 24/04/20 23/04/21 21/04/22 27/04/23 25/04/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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