Cash flow Jiangsu Rutong Petro-Machinery Co., Ltd

Equities

603036

CNE100002ZX0

Oil Related Services and Equipment

End-of-day quote Shanghai S.E. Other stock markets 09/09/2024			5-day change	1st Jan Change
9.260 ^CNY	-3.04%		-1.17%	-37.01%

08-21	Jiangsu Rutong Petro-Machinery Co., Ltd Reports Earnings Results for the Half Year Ended June 30, 2024	CI
04-30	Jiangxi Hanyi Technology Co., Ltd. completed the acquisition of 6.52% stake in Jiangsu Rutong Petro-Machinery Co., Ltd from Cao Caihong, Xu Bobing, Zhang Youfu, Zhu Jianhua, He Yunhua, Zhou Xiaofeng.	CI

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Published financial data: JIANGSU RUTONG PETRO-MACHINERY CO., LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	298M	290M	269M	305M	379M
Other Revenues, Total	581K	888K	984K	1.75M	975K
Total Revenues	299M	291M	270M	307M	380M
Cost of Goods Sold, Total	165M	146M	164M	180M	221M
Gross Profit	134M	145M	106M	127M	158M
Selling General & Admin Expenses, Total	51.01M	48.79M	40.97M	40.19M	53.09M
Provision for Bad Debts	138K	6.27M	56.52K	936K	855K
R&D Expenses	15.21M	15.73M	13.81M	15.56M	20.48M
Other Operating Expenses	4.58M	5.03M	4.44M	4.68M	4.32M
Other Operating Expenses, Total	70.94M	75.82M	59.28M	61.37M	78.74M
Operating Income	62.96M	68.99M	46.73M	65.86M	79.68M
Interest And Investment Income	10M	14.25M	14.14M	15.64M	23.59M
Net Interest Expenses	10M	14.25M	14.14M	15.64M	23.59M
Currency Exchange Gains (Loss)	919K	-6.02M	-1.5M	9.29M	625K
Other Non Operating Income (Expenses)	-159K	-170K	-77.71K	-266K	-81.23K
EBT, Excl. Unusual Items	73.72M	77.05M	59.31M	90.52M	104M
Gain (Loss) On Sale Of Investments	-	-	-	-	3.12M
Gain (Loss) On Sale Of Assets	-370K	-104K	494K	2.24M	-396K
Asset Writedown	-	-	-24.92K	-	-221K
Other Unusual Items	3M	1.96M	2.46M	2.81M	3.66M
EBT, Incl. Unusual Items	76.35M	78.91M	62.23M	95.57M	110M
Income Tax Expense	11.32M	12.29M	8.53M	15.88M	15.23M
Earnings From Continuing Operations	65.03M	66.62M	53.7M	79.69M	94.74M
Net Income to Company	65.03M	66.62M	53.7M	79.69M	94.74M
Minority Interest	-206K	1.19M	1.83M	1.45M	376K
Net Income - (IS)	64.82M	67.81M	55.54M	81.14M	95.12M
Net Income to Common Incl Extra Items	64.82M	67.81M	55.54M	81.14M	95.12M
Net Income to Common Excl. Extra Items	64.82M	67.81M	55.54M	81.14M	95.12M
Per Share Items
Net EPS - Basic	0.32	0.33	0.27	0.39	0.46
Basic EPS - Continuing Operations	0.32	0.33	0.27	0.39	0.46
Basic Weighted Average Shares Outstanding	203M	205M	206M	208M	207M
Net EPS - Diluted	0.32	0.33	0.27	0.39	0.46
Diluted EPS - Continuing Operations	0.32	0.33	0.27	0.39	0.46
Diluted Weighted Average Shares Outstanding	203M	205M	206M	208M	207M
Normalized Basic EPS	0.23	0.24	0.19	0.28	0.32
Normalized Diluted EPS	0.23	0.24	0.19	0.28	0.32
Dividend Per Share	0.12	0.15	0.12	0.19	0.2
Payout Ratio	18.2	36.46	55.82	30.56	41.15
Supplemental Items
EBITDA	78.91M	83.97M	62.82M	81.93M	95.69M
EBITA	65.15M	70.77M	48.64M	67.78M	81.62M
EBIT	62.96M	68.99M	46.73M	65.86M	79.68M
EBITDAR	79.36M	84.43M	63.48M	82.95M	96.51M
Total Revenues (As Reported)	299M	291M	270M	307M	380M
Effective Tax Rate - (Ratio)	14.82	15.57	13.71	16.61	13.85
Total Current Taxes	12.37M	14.14M	7.69M	14.26M	15.2M
Total Deferred Taxes	-1.05M	-1.85M	841K	1.62M	37.88K
Normalized Net Income	45.87M	49.35M	38.9M	58.03M	65.26M
Supplemental Operating Expense Items
Selling and Marketing Expenses	23.66M	19.47M	12.58M	13.43M	24.36M
General and Administrative Expenses	27.35M	29.32M	28.39M	26.76M	28.73M
Research And Development Expense From Footnotes	15.21M	15.73M	13.81M	15.56M	20.48M
Net Rental Expense, Total	447K	464K	652K	1.03M	822K
Stock-Based Comp., G&A Exp. (Total)	1.53M	8.78M	3.69M	1.01M	-
Total Stock-Based Compensation	1.53M	8.78M	3.69M	1.01M	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	305M	393M	383M	414M	451M
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	350M	284M	266M	272M	273M
Total Cash And Short Term Investments	654M	676M	650M	686M	724M
Accounts Receivable, Total	225M	271M	268M	295M	312M
Other Receivables	1.67M	2.14M	2.46M	2.71M	4.61M
Total Receivables	226M	273M	271M	297M	316M
Inventory	168M	147M	179M	184M	230M
Other Current Assets, Total	2.89M	3.99M	9.96M	12.41M	4.85M
Total Current Assets	1.05B	1.1B	1.11B	1.18B	1.27B
Gross Property Plant And Equipment	257M	257M	291M	292M	298M
Accumulated Depreciation	-141M	-152M	-163M	-175M	-188M
Net Property Plant And Equipment	117M	105M	128M	117M	110M
Long-term Investments	7M	19.13M	25.13M	33.34M	33.38M
Other Intangibles, Total	30.04M	27.92M	36.48M	35.2M	33.2M
Deferred Tax Assets Long-Term	6.34M	8.19M	7.35M	5.73M	5.69M
Deferred Charges Long-Term	976K	-	1.87M	1.12M	373K
Other Long-Term Assets, Total	-	1.1M	4.35M	2.23M	686K
Total Assets	1.21B	1.26B	1.31B	1.37B	1.46B
Liabilities
Accounts Payable, Total	57.81M	58.04M	84.9M	85.93M	116M
Accrued Expenses, Total	11.95M	11.28M	12.35M	20.59M	16.54M
Current Income Taxes Payable	3.47M	2.42M	633K	8.04M	3.46M
Unearned Revenue Current, Total	12.15M	8.39M	8.59M	7.69M	14.59M
Other Current Liabilities	26.74M	27.43M	20.7M	13.54M	13.89M
Total Current Liabilities	112M	108M	127M	136M	165M
Unearned Revenue Non Current	22.75M	20.67M	18.58M	16.49M	14.4M
Total Liabilities	135M	128M	146M	152M	179M
Common Stock, Total	206M	207M	207M	207M	206M
Additional Paid In Capital	426M	438M	441M	442M	439M
Retained Earnings	440M	483M	508M	564M	620M
Treasury Stock	-15.58M	-14.18M	-6.97M	-3.56M	-
Comprehensive Income and Other	-	922K	2.07M	3.12M	4.66M
Total Common Equity	1.06B	1.11B	1.15B	1.21B	1.27B
Minority Interest	20.34M	19.15M	16.28M	8.9M	8.53M
Total Equity	1.08B	1.13B	1.17B	1.22B	1.28B
Total Liabilities And Equity	1.21B	1.26B	1.31B	1.37B	1.46B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	203M	204M	205M	206M	206M
ECS Total Common Shares Outstanding	203M	204M	205M	206M	206M
Book Value / Share	5.2	5.46	5.6	5.89	6.17
Tangible Book Value	1.03B	1.09B	1.11B	1.18B	1.24B
Tangible Book Value Per Share	5.05	5.32	5.43	5.72	6.01
Total Debt	0	0	0	0	0
Net Debt	-654M	-676M	-650M	-686M	-724M
Debt Equivalent Oper. Leases	3.58M	3.71M	5.22M	8.21M	6.58M
Minority Interest, Total (Incl. Fin. Div)	20.34M	19.15M	16.28M	8.9M	8.53M
Equity Method Investments, Total	7M	19.13M	25.13M	5.34M	5.38M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	19.07M	17.23M	24.16M	22.62M	29.37M
Inventories - Work In Process, Total	60.96M	58.73M	61.47M	74.5M	91.41M
Inventories - Finished Goods, Total	95.26M	80.88M	101M	97.58M	124M
Buildings, Total	124M	124M	146M	142M	144M
Machinery, Total	133M	133M	145M	150M	153M
Full Time Employees	644	604	604	610	646
Accumulated Allowance for Doubtful Accounts (Supple)	24.18M	30.41M	30.74M	29.95M	30.72M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	64.82M	67.81M	55.54M	81.14M	95.12M
Depreciation & Amortization - CF	13.76M	13.2M	14.18M	14.15M	14.07M
Amortization of Goodwill and Intangible Assets - (CF)	2.2M	1.78M	1.91M	1.92M	1.94M
Depreciation & Amortization, Total	15.95M	14.98M	16.09M	16.07M	16.01M
Amortization of Deferred Charges, Total - (CF)	-	46.51K	771K	1.44M	1.19M
(Gain) Loss From Sale Of Asset	370K	104K	-469K	-2.24M	396K
(Gain) Loss on Sale of Investments - (CF)	-8.66M	-12.58M	-10.51M	-14.48M	-22.5M
Asset Writedown & Restructuring Costs	6.67M	-	-	-	221K
Provision and Write-off of Bad Debts	-	6.27M	56.52K	936K	855K
Other Operating Activities, Total	-713K	10.31M	1.28M	-2.75M	7.62M
Change In Accounts Receivable	-11.46M	-54.16M	-14.93M	-34.75M	-17.93M
Change In Inventories	-23.94M	15.16M	-33.45M	-12.61M	-54.87M
Change In Accounts Payable	11.43M	-3.5M	28.25M	13.15M	27.42M
Change In Deferred Taxes	-1.05M	-1.85M	841K	1.62M	37.88K
Change in Other Net Operating Assets	1.53M	10.68M	4.83M	2.06M	1.54M
Cash from Operations	54.95M	53.26M	48.3M	49.59M	55.11M
Capital Expenditure	-7.51M	-4.18M	-58.83M	-5.38M	-6.95M
Sale of Property, Plant, and Equipment	318K	-	1.9M	5.6M	110K
Investment in Marketable and Equity Securities, Total	-31.1M	56.85M	11.9M	-13.42M	2M
Other Investing Activities, Total	9.17M	12.97M	10.84M	14.27M	19.56M
Cash from Investing	-29.11M	65.64M	-34.19M	1.07M	14.72M
Issuance of Common Stock	15.58M	3.26M	-	-	-
Repurchase of Common Stock	-	-	-228K	-3.33M	-
Common Dividends Paid	-11.79M	-24.72M	-31M	-24.8M	-39.14M
Common & Preferred Stock Dividends Paid	-11.79M	-24.72M	-31M	-24.8M	-39.14M
Other Financing Activities, Total	-	-	-1.03M	-2.3M	-
Cash from Financing	3.79M	-21.46M	-32.26M	-30.43M	-39.14M
Foreign Exchange Rate Adjustments	857K	-6.02M	-1.5M	9.29M	625K
Net Change in Cash	30.48M	91.41M	-19.64M	29.52M	31.31M
Supplemental Items
Cash Income Tax Paid (Refund)	30.82M	42.4M	26.31M	22.31M	43.4M
Levered Free Cash Flow	373M	30.7M	-24.57M	29.06M	31.28M
Unlevered Free Cash Flow	373M	30.7M	-24.57M	29.06M	31.28M
Change In Net Working Capital	-324M	32.05M	15.5M	25.23M	28.76M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.36	3.49	2.27	3.06	3.52
Return on Total Capital	3.75	3.9	2.54	3.45	3.98
Return On Equity %	6.19	6.03	4.67	6.67	7.58
Return on Common Equity	6.3	6.25	4.9	6.87	7.66
Margin Analysis
Gross Profit Margin %	44.8	49.81	39.3	41.45	41.72
SG&A Margin	17.07	16.78	15.19	13.09	13.98
EBITDA Margin %	26.4	28.88	23.29	26.69	25.2
EBITA Margin %	21.8	24.34	18.03	22.08	21.5
EBIT Margin %	21.07	23.73	17.32	21.46	20.98
Income From Continuing Operations Margin %	21.76	22.92	19.91	25.96	24.95
Net Income Margin %	21.69	23.32	20.59	26.44	25.05
Net Avail. For Common Margin %	21.69	23.32	20.59	26.44	25.05
Normalized Net Income Margin	15.35	16.97	14.42	18.9	17.19
Levered Free Cash Flow Margin	124.77	10.56	-9.11	9.47	8.24
Unlevered Free Cash Flow Margin	124.77	10.56	-9.11	9.47	8.24
Asset Turnover
Asset Turnover	0.26	0.24	0.21	0.23	0.27
Fixed Assets Turnover	2.49	2.62	2.31	2.5	3.35
Receivables Turnover (Average Receivables)	1.37	1.17	1	1.08	1.25
Inventory Turnover (Average Inventory)	1.04	0.93	1	0.99	1.07
Short Term Liquidity
Current Ratio	9.38	10.23	8.72	8.68	7.75
Quick Ratio	7.85	8.83	7.24	7.24	6.32
Operating Cash Flow to Current Liabilities	0.49	0.5	0.38	0.37	0.33
Days Sales Outstanding (Average Receivables)	267.31	312.97	366.14	336.54	292.11
Days Outstanding Inventory (Average Inventory)	352.2	395.24	363.69	368.41	341.14
Average Days Payable Outstanding	108.47	169.23	133.38	169.14	137.79
Cash Conversion Cycle (Average Days)	511.04	538.98	596.45	535.81	495.46
Long Term Solvency
Total Liabilities / Total Assets	11.13	10.16	11.1	11.08	12.27
Net Debt / EBITDA	-8.29	-8.05	-10.34	-8.37	-7.57
Net Debt / (EBITDA - Capex)	-9.16	-8.47	-162.53	-8.96	-8.16
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	24.21	-2.72	-7.21	13.78	23.71
Gross Profit, 1 Yr. Growth %	61.41	8.15	-23.35	20.01	24.52
EBITDA, 1 Yr. Growth %	102.4	6.41	-25.22	29.59	15.82
EBITA, 1 Yr. Growth %	158.28	8.62	-31.31	38.2	19.21
EBIT, 1 Yr. Growth %	172.78	9.58	-32.26	40.92	20.98
Earnings From Cont. Operations, 1 Yr. Growth %	68.91	2.44	-19.39	48.4	18.89
Net Income, 1 Yr. Growth %	65.88	4.6	-18.1	46.11	17.22
Normalized Net Income, 1 Yr. Growth %	75.67	7.59	-21.17	49.17	12.47
Diluted EPS Before Extra, 1 Yr. Growth %	68.42	3.12	-18.18	44.44	17.95
Accounts Receivable, 1 Yr. Growth %	5.75