Company Valuation: Zhongji Innolight Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 36,171 33,920 21,185 88,788 136,442 607,782 607,782 -
Change - -6.22% -37.54% 319.1% 53.67% 345.45% 0% -
Enterprise Value (EV) 1 37,318 32,982 20,323 86,411 134,064 600,535 591,926 570,940
Change - -11.62% -38.38% 325.18% 55.15% 347.95% -1.43% -3.55%
P/E ratio 42.7x 35.4x 17.6x 40.9x 26.7x 55.5x 24.7x 20.1x
PBR 4.61x 2.96x 1.82x 6.35x 7.24x 22.6x 12x 7.68x
PEG - 42.14x 0.6x 0.5x 0x 1x 0x 0.9x
Capitalization / Revenue 5.13x 4.41x 2.2x 8.28x 5.72x 16.2x 7.36x 6.42x
EV / Revenue 5.29x 4.29x 2.11x 8.06x 5.62x 16x 7.17x 6.03x
EV / EBITDA 28.1x 23.8x 11.2x 28.7x 19.9x 44.9x 20.4x 17.3x
EV / EBIT 37.5x 34.3x 15.3x 34.5x 22.2x 47.1x 21x 16.5x
EV / FCF -40.3x -1,230x 12.2x 401x 449x 125x 54.2x 23.9x
FCF Yield -2.48% -0.08% 8.19% 0.25% 0.22% 0.8% 1.84% 4.18%
Dividend per Share 2 0.0864 0.1571 0.1429 0.3214 0.5 1.314 1.97 3.163
Rate of return 0.24% 0.52% 0.74% 0.4% 0.4% 0.25% 0.37% 0.6%
EPS 2 0.85 0.8571 1.1 1.971 4.63 9.484 21.28 26.17
Distribution rate 10.2% 18.3% 13% 16.3% 10.8% 13.9% 9.26% 12.1%
Net sales 1 7,053 7,695 9,642 10,725 23,862 37,494 82,582 94,708
EBITDA 1 1,330 1,388 1,808 3,011 6,753 13,376 28,945 33,043
EBIT 1 993.9 962.9 1,327 2,503 6,050 12,747 28,216 34,608
Net income 1 849.3 877 1,224 2,181 5,171 10,600 23,663 29,000
Net Debt 1 1,147 -938.1 -861.9 -2,377 -2,377 -7,247 -15,856 -36,841
Reference price 2 36.33 30.36 19.31 80.65 123.51 525.99 525.99 525.99
Nbr of stocks (in thousands) 995,659 1,117,362 1,097,276 1,100,904 1,104,701 1,111,118 1,111,118 -
Announcement Date 26/02/21 28/02/22 27/02/23 28/02/24 28/02/25 28/02/26 - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
55.46x15.39x43.15x0.25% 84.62B
24.94x5.06x13.12x2.17% 301B
41.55x13.87x29.46x-.--% 172B
29.94x1.11x21.54x1.83% 152B
32.72x6.51x19.24x1.06% 75.88B
25.91x5.5x19.38x1.7% 46.7B
50.17x - - - 45.54B
26.76x1.67x11.11x2.14% 43.44B
75.4x7.39x34.88x-.--% 45.04B
20.83x2.59x14.07x2.63% 41.35B
Average 38.37x 6.57x 22.88x 1.31% 100.77B
Weighted average by Cap. 35.03x 6.91x 21.77x 1.37%

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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