AUSNUTRIA DAIRY CORPORATION LTD |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.31 HKD | -0.86% |
|
+2.67% | -11.49% |
| 01/05 | Ausnutria Dairy's 2023 Profit Drops 19% | MT |
| 27/03 | Ausnutria Dairy Corporation Ltd Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 25 June 2024 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 12,225 | 16,138 | 18,803 | 13,233 | 6,661 | 3,806 | 3,806 | - |
| Enterprise Value (EV) 1 | 11,423 | 15,667 | 18,032 | 12,018 | 6,661 | 4,223 | 3,806 | 3,806 |
| P/E ratio | 16.6 x | 18.4 x | 18.1 x | 12.8 x | 30.6 x | 24.5 x | 12.2 x | 8.55 x |
| Yield | 1.66% | 1.98% | 2.08% | 2.99% | - | 1.95% | 6.08% | - |
| Capitalization / Revenue | 2.27 x | 2.4 x | 2.35 x | 1.49 x | 0.85 x | 0.57 x | 0.48 x | 0.45 x |
| EV / Revenue | 2.12 x | 2.33 x | 2.26 x | 1.35 x | 0.85 x | 0.57 x | 0.48 x | 0.45 x |
| EV / EBITDA | 12.8 x | 11.6 x | 11.6 x | 8 x | 13.7 x | 8.9 x | 4.63 x | 3.9 x |
| EV / FCF | 35.9 x | 22 x | 24.8 x | 19.1 x | - | -11 x | 11.5 x | 8.53 x |
| FCF Yield | 2.78% | 4.55% | 4.04% | 5.23% | - | -9.12% | 8.72% | 11.7% |
| Price to Book | 3.23 x | 4.02 x | 3.64 x | 2.39 x | - | 0.74 x | 0.65 x | 0.62 x |
| Nbr of stocks (in thousands) | 15,82,151 | 16,09,427 | 17,15,904 | 17,18,546 | 18,00,112 | 17,80,112 | 17,80,112 | - |
| Reference price 2 | 7.727 | 10.03 | 10.96 | 7.700 | 3.701 | 2.138 | 2.138 | 2.138 |
| Announcement Date | 18/03/19 | 17/03/20 | 16/03/21 | 28/03/22 | 30/03/23 | 27/03/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,390 | 6,736 | 7,986 | 8,873 | 7,796 | 7,382 | 8,007 | 8,472 |
| EBITDA 1 | 895.1 | 1,355 | 1,554 | 1,501 | 484.5 | 474.5 | 822.1 | 975.6 |
| EBIT 1 | 741.8 | 1,177 | 1,309 | 1,224 | 228 | 223.8 | 470.6 | 644 |
| Operating Margin | 13.76% | 17.47% | 16.4% | 13.8% | 2.93% | 3.03% | 5.88% | 7.6% |
| Earnings before Tax (EBT) 1 | 792 | 1,107 | 1,221 | 1,234 | 251.3 | 201.8 | 402.2 | 519.2 |
| Net income 1 | 635.1 | 878.4 | 1,004 | 1,040 | 216.5 | 174.4 | 315.7 | 448.4 |
| Net margin | 11.78% | 13.04% | 12.57% | 11.72% | 2.78% | 2.36% | 3.94% | 5.29% |
| EPS 2 | 0.4663 | 0.5450 | 0.6057 | 0.6038 | 0.1208 | 0.0970 | 0.1750 | 0.2500 |
| Free Cash Flow 1 | 317.8 | 712.7 | 727.6 | 629 | - | -385.3 | 332 | 446 |
| FCF margin | 5.9% | 10.58% | 9.11% | 7.09% | - | -5.22% | 4.15% | 5.26% |
| FCF Conversion (EBITDA) | 35.51% | 52.59% | 46.81% | 41.89% | - | 53.51% | 40.38% | 45.72% |
| FCF Conversion (Net income) | 50.04% | 81.14% | 72.47% | 60.47% | - | 116.66% | 105.16% | 99.46% |
| Dividend per Share 2 | 0.1282 | 0.1986 | 0.2274 | 0.2302 | - | 0.0462 | 0.1300 | - |
| Announcement Date | 18/03/19 | 17/03/20 | 16/03/21 | 28/03/22 | 30/03/23 | 27/03/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2019 S2 | 2020 S1 | 2021 Q1 | 2021 Q2 | 2021 S1 | 2022 S1 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,148 | 3,589 | 3,859 | 2,183 | 2,087 | 4,270 | 3,630 | - | 3,870 |
| EBITDA | 615.8 | 739.4 | - | - | - | - | - | - | - |
| EBIT 1 | 371 | 647.1 | - | - | 436 | 831.6 | 227.6 | - | 83 |
| Operating Margin | 11.79% | 18.03% | - | - | 20.89% | 19.47% | 6.27% | - | 1.91% |
| Earnings before Tax (EBT) | 361.3 | - | - | - | - | - | 236 | - | -29.13 |
| Net income | 260.5 | - | - | 331.4 | - | - | 222 | 184.6 | -10.21 |
| Net margin | 8.27% | - | - | 15.18% | - | - | 6.11% | - | -0.26% |
| EPS | - | - | - | - | - | - | 0.1236 | 0.1025 | -0.005500 |
| Dividend per Share | - | - | - | - | - | - | - | - | - |
| Announcement Date | 13/08/19 | 17/03/20 | 13/08/20 | 11/05/21 | 12/08/21 | 12/08/21 | 29/08/22 | 25/08/23 | 27/03/24 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 802 | 471 | 771 | 1,214 | - | 545 | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 318 | 713 | 728 | 629 | - | -385 | 332 | 446 |
| ROE (net income / shareholders' equity) | 25.4% | 25.9% | 21.9% | 19.4% | - | 3.08% | 5.26% | 7.14% |
| ROA (Net income/ Total Assets) | 10.2% | 12.4% | 11.4% | 11.1% | - | 1.76% | 3.28% | 3.96% |
| Assets 1 | 6,225 | 7,074 | 8,796 | 9,381 | - | 9,915 | 9,625 | 11,324 |
| Book Value Per Share 2 | 2.390 | 2.500 | 3.010 | 3.220 | - | 3.200 | 3.300 | 3.470 |
| Cash Flow per Share 2 | 0.4100 | 0.7400 | 0.6800 | - | - | 0.1300 | 0.3000 | 0.5400 |
| Capex 1 | 361 | 258 | 440 | 442 | - | 610 | 328 | 401 |
| Capex / Sales | 6.7% | 3.83% | 5.51% | 4.98% | - | 8.26% | 4.1% | 4.73% |
| Announcement Date | 18/03/19 | 17/03/20 | 16/03/21 | 28/03/22 | 30/03/23 | 27/03/24 | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
2.138
CNY
Average target price
2.988
CNY
Spread / Average Target
+39.77%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -11.49% | 526M | |
| +6.95% | 25.07B | |
| -23.43% | 8.26B | |
| -6.14% | 6.75B | |
| +8.16% | 6.26B | |
| -3.85% | 5.38B | |
| -1.76% | 5.22B | |
| -1.17% | 4.98B | |
| +19.65% | 4.98B | |
| +23.61% | 4.59B |
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- Financials Ausnutria Dairy Corporation Ltd
