AAC TECHNOLOGIES HOLDINGS INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 25.6 HKD | +4.28% |
|
+7.79% | +10.34% |
| 22/03 | Jefferies Adjusts AAC Technologies Holdings’ Price Target to HK$28.00 From HK$17.77, Keeps at Buy | MT |
| 21/03 | AAC Technologies' 2023 Profit Falls on Lower Revenue; EPS Tops Estimate | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 73,440 | 44,144 | 30,329 | 18,924 | 25,272 | 28,401 | - | - |
| Enterprise Value (EV) 1 | 76,746 | 45,007 | 34,083 | 21,416 | 25,272 | 29,151 | 24,853 | 27,540 |
| P/E ratio | 33 x | 29.2 x | 23 x | 23.9 x | 35.1 x | 19.4 x | 15.4 x | 12.9 x |
| Yield | 0.6% | 0.69% | 0.65% | 0.76% | - | 0.83% | 1.08% | 1.49% |
| Capitalization / Revenue | 4.11 x | 2.58 x | 1.72 x | 0.92 x | 1.24 x | 1.1 x | 0.99 x | 0.91 x |
| EV / Revenue | 4.29 x | 2.63 x | 1.93 x | 1.04 x | 1.24 x | 1.13 x | 0.87 x | 0.88 x |
| EV / EBITDA | 16.9 x | 11.8 x | 8.07 x | 5.7 x | 6.04 x | 6.45 x | 4.98 x | 5.37 x |
| EV / FCF | 74.4 x | -68.5 x | -29.7 x | 8.19 x | - | 14.8 x | 8.28 x | 10.1 x |
| FCF Yield | 1.34% | -1.46% | -3.36% | 12.2% | - | 6.74% | 12.1% | 9.92% |
| Price to Book | 3.8 x | 2.09 x | 1.39 x | 0.87 x | - | 1.2 x | 1.12 x | 1.07 x |
| Nbr of stocks (in thousands) | 12,08,500 | 12,08,500 | 12,08,500 | 12,01,045 | 11,98,500 | 11,98,500 | - | - |
| Reference price 2 | 60.77 | 36.53 | 25.10 | 15.76 | 21.09 | 23.70 | 23.70 | 23.70 |
| Announcement Date | 25/03/20 | 25/03/21 | 23/03/22 | 23/03/23 | 21/03/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 17,884 | 17,140 | 17,667 | 20,625 | 20,419 | 25,742 | 28,650 | 31,268 |
| EBITDA 1 | 4,534 | 3,827 | 4,224 | 3,760 | 4,183 | 4,517 | 4,994 | 5,128 |
| EBIT 1 | 2,472 | 1,350 | 1,483 | 745.4 | 457.1 | 1,654 | 2,117 | 2,410 |
| Operating Margin | 13.82% | 7.88% | 8.39% | 3.61% | 2.24% | 6.43% | 7.39% | 7.71% |
| Earnings before Tax (EBT) 1 | 2,552 | 1,648 | 1,413 | 860.7 | 822.9 | 1,688 | 2,133 | 2,505 |
| Net income 1 | 2,222 | 1,507 | 1,316 | 821 | 740 | 1,452 | 1,836 | 2,185 |
| Net margin | 12.43% | 8.79% | 7.45% | 3.98% | 3.62% | 5.64% | 6.41% | 6.99% |
| EPS 2 | 1.840 | 1.250 | 1.090 | 0.6600 | 0.6000 | 1.219 | 1.542 | 1.835 |
| Free Cash Flow 1 | 1,031 | -656.6 | -1,146 | 2,614 | - | 1,964 | 3,000 | 2,732 |
| FCF margin | 5.76% | -3.83% | -6.49% | 12.67% | - | 7.63% | 10.47% | 8.74% |
| FCF Conversion (EBITDA) | 22.74% | - | - | 69.51% | - | 43.49% | 60.07% | 53.28% |
| FCF Conversion (Net income) | 46.39% | - | - | 318.36% | - | 135.31% | 163.38% | 125.04% |
| Dividend per Share 2 | 0.3668 | 0.2528 | 0.1629 | 0.1200 | - | 0.1963 | 0.2561 | 0.3534 |
| Announcement Date | 25/03/20 | 25/03/21 | 23/03/22 | 23/03/23 | 21/03/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q2 | 2023 S1 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 S1 | 2024 Q3 | 2024 Q4 | 2024 S2 | 2025 Q1 | 2025 S1 | 2025 S2 | 2026 S1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,316 | 4,246 | 4,812 | 4,896 | 4,520 | 5,373 | 5,840 | - | 9,219 | 11,200 | 5,291 | 5,732 | 11,404 | 7,006 | 7,272 | 14,810 | 5,962 | 13,261 | 16,749 | 13,362 |
| EBITDA | - | 814.4 | 898.1 | 873.5 | 790.1 | 881.9 | - | - | - | - | - | - | 2,054 | - | - | 2,441 | - | - | - | - |
| EBIT 1 | 1,630 | 239.4 | 261.3 | 239.3 | 155.9 | 247.7 | 102.5 | - | -29.25 | 486.4 | 152 | 238 | 545.7 | 627 | 696 | 1,115 | 308 | 695.4 | 1,452 | 634 |
| Operating Margin | 15.8% | 5.64% | 5.43% | 4.89% | 3.45% | 4.61% | 1.76% | - | -0.32% | 4.34% | 2.87% | 4.15% | 4.79% | 8.95% | 9.57% | 7.53% | 5.17% | 5.24% | 8.67% | 4.74% |
| Earnings before Tax (EBT) 1 | 1,665 | 182.9 | 248.3 | 247.7 | 176.8 | 271.1 | 165.1 | - | 174.8 | - | 192 | 278 | 553.8 | 667 | 736 | 1,095 | 348 | 616.5 | 1,580 | - |
| Net income 1 | 1,453 | 183 | 212 | 205.3 | 145 | 234 | 237 | - | 150.3 | 590 | 167 | 241 | 521.8 | 581 | 640 | 957.7 | 303 | 597.7 | 1,288 | 705 |
| Net margin | 14.08% | 4.31% | 4.41% | 4.19% | 3.21% | 4.36% | 4.06% | - | 1.63% | 5.27% | 3.16% | 4.2% | 4.58% | 8.29% | 8.8% | 6.47% | 5.08% | 4.51% | 7.69% | 5.28% |
| EPS 2 | 1.200 | 0.1500 | 0.1800 | 0.1700 | 0.1200 | 0.2000 | 0.1700 | - | 0.1100 | 0.4900 | 0.1400 | 0.2100 | 0.4271 | 0.4900 | 0.5500 | 0.8083 | 0.2600 | 0.5450 | 1.083 | 0.5900 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 25/03/20 | 11/11/21 | 23/03/22 | 12/05/22 | 24/08/22 | 10/11/22 | 23/03/23 | 24/08/23 | 24/08/23 | 21/03/24 | - | - | - | - | - | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,306 | 863 | 3,754 | 2,493 | - | 750 | - | - |
| Net Cash position 1 | - | - | - | - | - | - | 3,548 | 861 |
| Leverage (Debt/EBITDA) | 0.7292 x | 0.2255 x | 0.8888 x | 0.6629 x | - | 0.1659 x | - | - |
| Free Cash Flow 1 | 1,031 | -657 | -1,146 | 2,614 | - | 1,964 | 3,000 | 2,732 |
| ROE (net income / shareholders' equity) | 11.6% | 5.97% | 6.13% | 3.78% | - | 6.46% | 7.55% | 8.3% |
| ROA (Net income/ Total Assets) | 6.94% | 4.12% | 3.25% | 1.99% | - | 3.52% | 4.16% | 4.59% |
| Assets 1 | 32,038 | 36,559 | 40,467 | 41,167 | - | 41,275 | 44,136 | 47,588 |
| Book Value Per Share 2 | 16.00 | 17.50 | 18.00 | 18.00 | - | 19.80 | 21.20 | 22.20 |
| Cash Flow per Share 2 | 3.180 | 2.970 | 1.820 | 3.640 | - | 2.820 | 3.510 | 3.830 |
| Capex 1 | 2,813 | 4,249 | 3,342 | 1,758 | - | 1,681 | 1,711 | 1,893 |
| Capex / Sales | 15.73% | 24.79% | 18.92% | 8.53% | - | 6.53% | 5.97% | 6.05% |
| Announcement Date | 25/03/20 | 25/03/21 | 23/03/22 | 23/03/23 | 21/03/24 | - | - | - |
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
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
26
Last Close Price
23.7
CNY
Average target price
24.77
CNY
Spread / Average Target
+4.53%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +10.34% | 3.92B | |
| +21.55% | 72.37B | |
| +48.33% | 65.86B | |
| -4.21% | 34.41B | |
| -16.43% | 28.52B | |
| -7.17% | 14.26B | |
| -13.03% | 9.92B | |
| +5.83% | 9.52B | |
| +71.16% | 8.54B | |
| +26.49% | 8.36B |
- Stock Market
- Equities
- 2018 Stock
- Financials AAC Technologies Holdings Inc.
