Financials Wangneng Environment Co.,Ltd

Equities

002034

CNE000001KW7

Environmental Services & Equipment

End-of-day quote Shenzhen S.E. 23:00:00 29/04/2024 BST 5-day change 1st Jan Change
14.42 CNY +0.42% Intraday chart for Wangneng Environment Co.,Ltd +4.27% -5.44%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,169 6,708 7,417 7,748 6,550 6,193 - -
Enterprise Value (EV) 1 6,169 6,708 7,417 7,748 6,550 6,193 6,193 6,193
P/E ratio 15 x 12.7 x 12.8 x 11.6 x 11.8 x 8.63 x 7.7 x 7.06 x
Yield 0.68% 3.14% 1.74% 2.77% 1.97% 3.54% 5.41% 2.95%
Capitalization / Revenue 5.44 x 3.95 x 2.5 x 2.31 x 2.06 x 1.82 x 1.6 x 1.6 x
EV / Revenue 5.44 x 3.95 x 2.5 x 2.31 x 2.06 x 1.82 x 1.6 x 1.6 x
EV / EBITDA 8.11 x 6.78 x 5.49 x 4.7 x 5.04 x 3.46 x 3.23 x 3.02 x
EV / FCF - - - -91.8 x 23.1 x -476 x - -
FCF Yield - - - -1.09% 4.34% -0.21% - -
Price to Book 1.5 x 1.46 x 1.42 x 1.31 x 1.05 x 0.9 x 0.81 x 0.76 x
Nbr of stocks (in thousands) 416,565 421,365 429,489 429,496 429,496 429,496 - -
Reference price 2 14.81 15.92 17.27 18.04 15.25 14.42 14.42 14.42
Announcement Date 27/02/20 26/01/21 25/01/22 15/03/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,135 1,698 2,968 3,350 3,178 3,407 3,866 3,871
EBITDA 1 760.9 989.3 1,352 1,647 1,301 1,791 1,918 2,049
EBIT 1 478.2 569.1 688.5 753.3 630.3 794.3 882.4 988.2
Operating Margin 42.13% 33.51% 23.2% 22.49% 19.84% 23.31% 22.82% 25.53%
Earnings before Tax (EBT) 1 474.2 568.6 686.3 783.3 629.7 794.1 885.5 989.4
Net income 1 411.4 522.2 648 721.8 603.1 715.7 803.9 878.3
Net margin 36.25% 30.75% 21.83% 21.55% 18.98% 21.01% 20.79% 22.69%
EPS 2 0.9900 1.250 1.350 1.560 1.290 1.670 1.873 2.043
Free Cash Flow 1 - - - -84.4 284.1 -13 - -
FCF margin - - - -2.52% 8.94% -0.38% - -
FCF Conversion (EBITDA) - - - - 21.84% - - -
FCF Conversion (Net income) - - - - 47.1% - - -
Dividend per Share 2 0.1000 0.5000 0.3000 0.5000 0.3000 0.5100 0.7800 0.4250
Announcement Date 27/02/20 26/01/21 25/01/22 15/03/23 28/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 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 - - 864 1,021 865 - 860.3 777.4 786.4 958 1,028 1,215
EBITDA - - - - - - - - - - - -
EBIT - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income 168.9 334.5 - - - 187.2 - - - - - -
Net margin - - - - - - - - - - - -
EPS - 0.5900 - - - 0.2800 - - - - - -
Dividend per Share - - - - - - - - - - - -
Announcement Date 27/04/22 18/08/22 27/10/22 15/03/23 19/04/23 24/08/23 26/10/23 28/03/24 26/04/24 - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - -84.4 284 -13 - -
ROE (net income / shareholders' equity) 10.7% 12% 12.9% 12.7% 9.63% 10.3% 10.7% 10.7%
ROA (Net income/ Total Assets) 5.39% 4.95% 5.25% 4.98% - 4.69% 4.97% 5.28%
Assets 1 7,631 10,549 12,340 14,493 - 15,260 16,176 16,651
Book Value Per Share 2 9.840 10.90 12.20 13.80 14.50 16.00 17.70 19.10
Cash Flow per Share 2 1.710 2.280 3.040 3.510 2.940 4.120 3.810 4.480
Capex 1 2,311 1,669 1,452 1,591 977 1,837 1,149 695
Capex / Sales 203.61% 98.28% 48.92% 47.49% 30.74% 53.9% 29.71% 17.96%
Announcement Date 27/02/20 26/01/21 25/01/22 15/03/23 28/03/24 - - -
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
5
Last Close Price
14.42 CNY
Average target price
17.64 CNY
Spread / Average Target
+22.36%
Consensus

Quarterly revenue - Rate of surprise

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