Financials Beijing Trust&Far Technology CO.,LTD

Equities

300231

CNE100001427

IT Services & Consulting

End-of-day quote Shenzhen S.E. 03:30:00 26/04/2024 am IST 5-day change 1st Jan Change
8.57 CNY +3.75% Intraday chart for Beijing Trust&Far Technology CO.,LTD +5.93% -16.72%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,874 3,498 3,750 3,754 3,054 4,312
Enterprise Value (EV) 1 2,461 3,201 3,599 3,592 3,226 4,293
P/E ratio 24.1 x 26.4 x 23.1 x 22.3 x 17.8 x 40.6 x
Yield 2.31% 1.8% 2.23% 2.23% 2.74% -
Capitalization / Revenue 2.36 x 2.27 x 1.62 x 1.6 x 1.26 x 2.18 x
EV / Revenue 2.02 x 2.08 x 1.55 x 1.53 x 1.33 x 2.17 x
EV / EBITDA 14.6 x 16.8 x 14.7 x 14.3 x 13.3 x 21.1 x
EV / FCF 18.3 x 33.8 x -20.4 x 60 x -14.6 x 14.3 x
FCF Yield 5.45% 2.95% -4.9% 1.67% -6.86% 6.99%
Price to Book 2.07 x 2.82 x 2.67 x 2.51 x 1.93 x 2.63 x
Nbr of stocks (in thousands) 4,42,100 4,18,945 4,18,945 4,18,954 4,18,962 4,19,014
Reference price 2 6.500 8.350 8.950 8.960 7.290 10.29
Announcement Date 24/04/19 28/02/20 11/03/21 08/04/22 10/04/23 23/04/24
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,220 1,542 2,317 2,349 2,423 1,976
EBITDA 1 168.3 190.8 244.3 250.7 243.1 -149.3
EBIT 1 146.5 166.1 222.6 229.5 227.5 -172.1
Operating Margin 12.01% 10.77% 9.61% 9.77% 9.39% -8.71%
Earnings before Tax (EBT) 1 136.6 156.9 196.5 200.9 207.2 127.2
Net income 1 112.5 135.2 162.6 170.3 173.8 106.1
Net margin 9.22% 8.77% 7.02% 7.25% 7.17% 5.37%
EPS 2 0.2697 0.3158 0.3871 0.4024 0.4107 0.2533
Free Cash Flow 1 134.2 94.59 -176.5 59.84 -221.2 62.08
FCF margin 11% 6.13% -7.62% 2.55% -9.13% 3.14%
FCF Conversion (EBITDA) 79.7% 49.58% - 23.87% - -
FCF Conversion (Net income) 119.23% 69.98% - 35.14% - 58.5%
Dividend per Share 2 0.1500 0.1500 0.2000 0.2000 0.2000 0.2000
Announcement Date 24/04/19 28/02/20 11/03/21 08/04/22 10/04/23 23/04/24
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - 172 -
Net Cash position 1 413 297 150 162 - 18.4
Leverage (Debt/EBITDA) - - - - 0.7056 x -
Free Cash Flow 1 134 94.6 -176 59.8 -221 62.1
ROE (net income / shareholders' equity) 10.6% 10.3% 12.3% 11.7% 11.3% 6.65%
ROA (Net income/ Total Assets) 5.68% 4.76% 5.03% 4.97% 5.16% -4.08%
Assets 1 1,980 2,841 3,230 3,424 3,366 -2,599
Book Value Per Share 2 3.140 2.960 3.360 3.580 3.780 3.840
Cash Flow per Share 2 1.260 2.100 2.270 2.110 1.350 1.400
Capex 1 39.9 66.2 84.1 50 18.7 15.5
Capex / Sales 3.27% 4.29% 3.63% 2.13% 0.77% 0.79%
Announcement Date 24/04/19 28/02/20 11/03/21 08/04/22 10/04/23 23/04/24
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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