Company Valuation: Weichai Power Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 120,053 145,513 86,180 114,403 113,430 213,629 213,629 -
Change - 21.21% -40.77% 32.75% -0.85% 88.34% 0% -
Enterprise Value (EV) 1 95,572 102,291 60,002 65,240 79,769 175,970 171,480 167,057
Change - 7.03% -41.34% 8.73% 22.27% 120.6% -2.55% -2.58%
P/E ratio 11.3x 11.3x 16.3x 11.4x 8.52x 17.2x 14.6x 12.3x
PBR 2.03x 2.03x - 1.29x 1.12x 2.33x 2.15x 1.97x
PEG - -2.18x -0.3x 0.1x 0.3x 1.6x 0.8x 0.7x
Capitalization / Revenue 0.61x 0.71x 0.49x 0.53x 0.53x 0.92x 0.83x 0.75x
EV / Revenue 0.48x 0.5x 0.34x 0.3x 0.37x 0.76x 0.67x 0.59x
EV / EBITDA 4.48x 4.19x 3.53x 2.63x 2.65x 5.91x 4.85x 4.1x
EV / EBIT 7.67x 7.36x 10.3x 5.06x 4.58x 10.6x 8.2x 6.7x
EV / FCF 5.55x 11.4x -6.73x 3.17x 4.09x 11.5x 8.12x 6.99x
FCF Yield 18% 8.77% -14.9% 31.5% 24.4% 8.71% 12.3% 14.3%
Dividend per Share 2 0.15 0.37 - 0.519 0.719 0.7955 0.9397 1.109
Rate of return 1.14% 2.98% - 4.38% 6.44% 3.2% 3.77% 4.45%
EPS 2 1.16 1.1 0.57 1.04 1.31 1.447 1.709 2.017
Distribution rate 12.9% 33.6% - 49.9% 54.9% 55% 55% 55%
Net sales 1 197,491 203,548 175,158 213,958 215,691 231,703 256,061 285,509
EBITDA 1 21,319 24,426 16,982 24,814 30,154 29,778 35,375 40,723
EBIT 1 12,461 13,889 5,834 12,905 17,428 16,531 20,903 24,927
Net income 1 9,207 9,254 4,905 9,014 11,403 12,373 14,373 16,209
Net Debt 1 -24,481 -43,222 -26,178 -49,163 -33,661 -37,658 -42,149 -46,572
Reference price 2 13.10 12.43 9.27 11.84 11.16 24.90 24.90 24.90
Nbr of stocks (in thousands) 7,933,874 8,726,557 8,639,291 8,639,291 8,639,291 8,585,059 8,585,059 -
Announcement Date 30/03/21 30/03/22 30/03/23 25/03/24 27/03/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.58x0.68x5.41x3.17% 30.98B
25.86x1.69x13.98x1.21% 50.77B
12.04x0.68x5.28x3.35% 32.68B
8.22x0.52x6.67x1.74% 24.02B
16.1x3.17x11.05x3.87% 22.01B
37.1x3.69x21.37x0.78% 15.91B
8.37x0.46x4.63x3.58% 15.56B
11.04x0.93x5.76x-.--% 15B
-41.85x0.89x6.91x4.14% 14.22B
28.98x1.05x11.48x0.72% 12.98B
Average 12.34x 1.38x 9.25x 2.26% 23.41B
Weighted average by Cap. 14.82x 1.36x 9.39x 2.27%

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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