Company Valuation: Ming Yang Smart Energy Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 50,451 56,803 27,973 27,116 31,279 22,358 - -
Change - 12.59% -50.75% -3.06% 15.35% -28.52% - -
Enterprise Value (EV) 1 42,297 53,214 29,947 29,680 40,238 30,005 29,395 28,441
Change - 25.81% -43.72% -0.89% 35.57% -25.43% -2.03% -3.25%
P/E 15.1x 16x 78.4x 84.1x 47.2x 16x 9.01x 7.02x
PBR 2.74x 2.04x 1.04x 1.09x 1.24x 0.83x 0.78x 0.76x
PEG - -1.85x -0.9x -13.46x 0x 0x 0.1x 0.2x
Capitalization / Revenue 1.85x 1.85x 1x 1x 0.82x 0.52x 0.46x 0.39x
EV / Revenue 1.55x 1.73x 1.08x 1.09x 1.06x 0.7x 0.61x 0.5x
EV / EBITDA 9.49x 11x 20.6x 16.1x 14x 8.71x 6.41x 5.28x
EV / EBIT 11.1x 13.8x 79x 65.7x 56.1x 17.3x 11.2x 9.29x
EV / FCF -21.3x -6.05x -2.94x -3.69x -4.98x 13x 9.27x -
FCF Yield -4.69% -16.5% -34.1% -27.1% -20.1% 7.71% 10.8% -
Dividend per Share 2 0.2211 0.3041 0.3041 0.3041 0.185 0.3644 0.5117 1.19
Rate of return 0.85% 1.2% 2.43% 2.41% 1.28% 3.52% 4.94% 11.5%
EPS 2 1.73 1.58 0.16 0.15 0.3068 0.6471 1.149 1.475
Distribution rate 12.8% 19.2% 190% 203% 60.3% 56.3% 44.5% 80.7%
Net sales 1 27,273 30,748 27,850 27,158 38,095 42,800 48,312 56,692
EBITDA 1 4,455 4,848 1,454 1,839 2,872 3,447 4,588 5,384
EBIT 1 3,814 3,865 379 451.9 716.8 1,736 2,617 3,062
Net income 1 3,319 3,455 375 346.1 659.9 1,466 2,604 3,338
Net Debt 1 -8,154 -3,589 1,974 2,563 8,959 7,647 7,038 6,083
Reference price 2 26.10 25.26 12.54 12.61 14.48 10.35 10.35 10.35
Nbr of stocks (in thousands) 1,932,986 2,248,745 2,230,724 2,150,377 2,160,167 2,160,167 - -
Announcement Date 01/03/22 28/04/23 11/04/24 25/04/25 28/04/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.99x0.7x8.71x3.52% 3.3B
35.27x2.74x18.11x1.26% 147B
14.83x1.91x10.54x1.61% 32.7B
13.14x0.84x9.9x3.6% 13.24B
-15.92x0.62x8.02x-.--% 4.06B
27.46x - - - 2.69B
15.71x - - 0.69% 2.41B
-129.07x0.52x31.53x-.--% 2.01B
33.65x0.88x5.8x-.--% 941M
Average 1.23x 1.17x 13.23x 1.33% 23.14B
Weighted average by Cap. 27.43x 2.37x 16.08x 1.45%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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