Stock 3898 ZHUZHOU CRRC TIMES ELECTRIC CO., LTD.
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Financials Zhuzhou CRRC Times Electric Co., Ltd.

Equities

3898

CNE1000004X4

Heavy Electrical Equipment

Market Closed - Hong Kong S.E.
Other stock markets
 09:08:20 26/04/2024 BST 		5-day change 1st Jan Change
30.15 HKD +3.08% Intraday chart for Zhuzhou CRRC Times Electric Co., Ltd. +1.86% +35.20%
04-26 Zhuzhou CRRC Times Electric's Q1 Profit Jumps 44% MT
04-25 Zhuzhou CRRC Times Electric Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 29,624 33,440 91,398 66,074 42,703 58,590 - -
Enterprise Value (EV) 1 20,864 29,189 84,075 59,476 36,326 52,871 52,847 53,914
P/E ratio 11.2 x 13.5 x 22.6 x 19 x 9.26 x 10.7 x 9.62 x 8.25 x
Yield 1.79% - 2.45% 1.61% 3.85% 3.48% 3.2% 4.04%
Capitalization / Revenue 1.82 x 2.09 x 6.04 x 3.66 x 1.98 x 2.23 x 1.94 x 1.69 x
EV / Revenue 1.28 x 1.82 x 5.56 x 3.3 x 1.68 x 2.01 x 1.75 x 1.56 x
EV / EBITDA 6.17 x 8.83 x 31.8 x 16.3 x 8.67 x 12.8 x 10.1 x 8.88 x
EV / FCF 19.2 x -270 x 71.3 x 53.6 x -190 x 75.1 x 42.6 x 28.5 x
FCF Yield 5.21% -0.37% 1.4% 1.87% -0.53% 1.33% 2.35% 3.51%
Price to Book 1.35 x 1.4 x 1.6 x 1.4 x 0.78 x 1.01 x 0.91 x 0.84 x
Nbr of stocks (in thousands) 1,175,477 1,175,477 1,416,237 1,416,237 1,416,237 1,411,540 - -
Reference price 2 25.20 28.45 36.79 34.22 20.27 27.91 27.91 27.91
Announcement Date 27/03/20 30/03/21 25/02/22 27/02/23 23/02/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 16,304 16,034 15,121 18,034 21,613 26,266 30,152 34,610
EBITDA 1 3,381 3,304 2,643 3,656 4,188 4,122 5,258 6,069
EBIT 1 2,901 2,778 2,101 2,931 3,331 3,617 4,236 4,893
Operating Margin 17.79% 17.32% 13.9% 16.25% 15.41% 13.77% 14.05% 14.14%
Earnings before Tax (EBT) 1 2,933 2,837 2,123 2,942 3,373 4,062 4,522 5,170
Net income 1 2,659 2,475 2,018 2,556 3,106 3,671 4,092 4,667
Net margin 16.31% 15.44% 13.34% 14.17% 14.37% 13.97% 13.57% 13.48%
EPS 2 2.260 2.110 1.630 1.800 2.190 2.599 2.901 3.381
Free Cash Flow 1 1,087 -108 1,179 1,110 -191 704 1,241 1,893
FCF margin 6.67% -0.67% 7.8% 6.16% -0.88% 2.68% 4.12% 5.47%
FCF Conversion (EBITDA) 32.17% - 44.6% 30.36% - 17.08% 23.6% 31.19%
FCF Conversion (Net income) 40.89% - 58.43% 43.44% - 19.18% 30.33% 40.56%
Dividend per Share 2 0.4500 - 0.9000 0.5500 0.7800 0.9701 0.8941 1.127
Announcement Date 27/03/20 30/03/21 25/02/22 27/02/23 23/02/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - 6,595 2,545 3,982 - 4,349 7,158 3,085 5,485 5,525 7,518 13,043 3,925 6,033 6,354 9,173
EBITDA - - - - - - - - - - - - - - - -
EBIT 1 - 793.1 380.8 614.7 - 833.8 1,102 467.8 577.8 1,025 1,095 - 616 687.8 921.3 1,080
Operating Margin - 12.03% 14.96% 15.43% - 19.17% 15.4% 15.16% 10.54% 18.55% 14.57% - 15.7% 11.4% 14.5% 11.78%
Earnings before Tax (EBT) - - - - - - - - - - - - - - - -
Net income 688.2 - - 530 871 - 993.2 - - - 1,053 1,952 - - - -
Net margin - - - 13.31% - - 13.87% - - - 14% 14.96% - - - -
EPS 2 0.5900 0.6100 0.2400 0.3700 - 0.4900 0.7000 0.3100 0.5000 0.6400 0.7400 - 0.4000 0.5600 0.7467 0.8633
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 26/08/20 25/02/22 26/04/22 26/08/22 26/08/22 16/10/22 27/02/23 28/04/23 22/08/23 26/10/23 23/02/24 23/02/24 25/04/24 - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 8,760 4,251 7,323 6,597 6,377 5,719 5,743 4,675
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,087 -108 1,179 1,110 -191 704 1,241 1,893
ROE (net income / shareholders' equity) 12.7% 10.8% 7.15% 7.61% 8.7% 9.67% 9.78% 10.3%
ROA (Net income/ Total Assets) 8.58% 7.41% 5.17% 5.52% 6.09% 6.16% 6.51% 6.96%
Assets 1 31,010 33,407 39,008 46,330 50,957 59,565 62,869 67,018
Book Value Per Share 2 18.60 20.30 23.00 24.40 26.00 27.60 30.80 33.40
Cash Flow per Share 2 1.560 1.490 1.740 1.440 1.960 3.910 13.00 4.690
Capex 1 751 1,842 971 931 2,973 2,222 2,112 2,090
Capex / Sales 4.6% 11.49% 6.42% 5.16% 13.76% 8.46% 7.01% 6.04%
Announcement Date 27/03/20 30/03/21 25/02/22 27/02/23 23/02/24 - - -
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

Ratings for Zhuzhou CRRC Times Electric Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
27.91 CNY
Average target price
33.37 CNY
Spread / Average Target
+19.56%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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