Financials AVIC Aviation High-Technology Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 08/07/2024 am IST			5-day change	1st Jan Change
18.07 ^CNY	-1.58%		-3.78%	-18.42%

25/04	Avic Aviation High-Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
18/03	AVIC Aviation High Technology's 2023 Profit Increases 15%	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	18,516	50,574	60,083	37,451	37,216	30,361	-	-
Enterprise Value (EV) ¹	18,516	50,574	60,083	37,451	37,216	30,361	30,361	30,361
P/E ratio	27.6 x	97.1 x	85.1 x	40.5 x	29.9 x	21.4 x	17.2 x	15.7 x
Yield	-	0.31%	0.36%	0.74%	1.01%	1.2%	1.2%	1.2%
Capitalization / Revenue	7.49 x	17.4 x	15.8 x	8.42 x	7.79 x	5.86 x	4.54 x	4.28 x
EV / Revenue	7.49 x	17.4 x	15.8 x	8.42 x	7.79 x	5.86 x	4.54 x	4.28 x
EV / EBITDA	20.3 x	78.1 x	69.2 x	36.5 x	27.5 x	20.1 x	15.7 x	13.7 x
EV / FCF	-	-	21,97,25,324 x	-	-	-	-	-
FCF Yield	-	-	0%	-	-	-	-	-
Price to Book	3.67 x	9.58 x	12.4 x	5.71 x	4.95 x	3.59 x	3.07 x	2.64 x
Nbr of stocks (in thousands)	16,80,185	16,80,185	16,80,185	16,80,185	16,80,185	16,80,185	-	-
Reference price ²	11.02	30.10	35.76	22.29	22.15	18.36	18.36	18.36
Announcement Date	15/03/20	15/03/21	15/03/22	15/03/23	15/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,473	2,912	3,808	4,446	4,780	5,183	6,683	7,092
EBITDA ¹	913.2	647.5	868.6	1,025	1,353	1,510	1,928	2,216
EBIT ¹	664.5	510.3	705.1	891	1,212	1,357	1,787	1,945
Operating Margin	26.86%	17.53%	18.52%	20.04%	25.36%	26.18%	26.74%	27.43%
Earnings before Tax (EBT) ¹	667.5	516.5	705.8	893.6	1,213	1,358	1,789	1,947
Net income ¹	551.6	430.9	591.4	765.3	1,031	1,136	1,488	1,627
Net margin	22.3%	14.8%	15.53%	17.21%	21.58%	21.91%	22.27%	22.95%
EPS ²	0.4000	0.3100	0.4200	0.5500	0.7400	0.8583	1.070	1.168
Free Cash Flow	-	-	273.4	-	-	-	-	-
FCF margin	-	-	7.18%	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	31.48%	-	-	-	-	-
FCF Conversion (Net income)	-	-	46.24%	-	-	-	-	-
Dividend per Share ²	-	0.0930	0.1280	0.1650	0.2230	0.2200	0.2200	0.2200
Announcement Date	15/03/20	15/03/21	15/03/22	15/03/23	15/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	273	-	-	-	-	-
ROE (net income / shareholders' equity)	13.8%	10.1%	12.7%	14.9%	17.7%	15.9%	17.7%	17%
ROA (Net income/ Total Assets)	7.76%	6.6%	8.8%	10.5%	12.7%	12.3%	14.3%	13.8%
Assets ¹	7,111	6,533	6,724	7,275	8,142	9,209	10,404	11,826
Book Value Per Share ²	3.000	3.140	2.880	3.900	4.480	5.120	5.970	6.950
Cash Flow per Share ²	0.6800	0.1100	0.2700	0.3000	0.3100	0.6700	0.6500	0.7900
Capex ¹	174	91.4	108	245	229	214	288	401
Capex / Sales	7.05%	3.14%	2.85%	5.5%	4.8%	4.12%	4.3%	5.65%
Announcement Date	15/03/20	15/03/21	15/03/22	15/03/23	15/03/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

18.36 CNY

Average target price

26.5 CNY

Spread / Average Target

+44.34%

	1st Jan change	Capi.
AVIC AVIATION HIGH-TECHNOLOGY CO., LTD.	-18.42%	4.24B
SAFRAN	+28.94%	90.66B
TRANSDIGM GROUP INC.	+24.82%	71.32B
HOWMET AEROSPACE INC.	+48.15%	32.16B
HEICO CORPORATION	+27.92%	27.44B
MTU AERO ENGINES AG	+29.94%	14.73B
AECC AVIATION POWER CO.,LTD	-5.64%	12.98B
CURTISS-WRIGHT CORPORATION	+22.36%	10.39B
AVIC AIRBORNE SYSTEMS CO., LTD.	-14.26%	7.7B
MEGGITT PLC	-.--%	7.35B