Financials China East Education Holdings Limited

Equities

667

KYG2120T1004

Professional & Business Education

Market Closed - Hong Kong S.E. 01:38:22 29/04/2024 pm IST 5-day change 1st Jan Change
2.38 HKD +2.15% Intraday chart for China East Education Holdings Limited +8.68% -11.19%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 31,956 34,438 8,647 11,975 5,307 4,800 - -
Enterprise Value (EV) 2 26,182 30,157 5,373 11,975 5,307 1,907 1,858 1,364
P/E ratio 36.6 x 139 x 29.9 x 32.4 x 20 x 12.7 x 7.87 x 8.17 x
Yield 1.27% 1.44% 5.04% 3.7% - 6.05% 10% 8.84%
Capitalization / Revenue 8.18 x 9.44 x 2.09 x 3.14 x 1.33 x 1.1 x 0.97 x 0.9 x
EV / Revenue 6.7 x 8.26 x 1.3 x 3.14 x 1.33 x 0.44 x 0.37 x 0.26 x
EV / EBITDA 16.9 x 25.7 x 4.58 x 10.1 x 4.67 x 1.37 x 1.09 x 0.82 x
EV / FCF 2,13,76,672 x 3,86,90,448 x 2,50,12,983 x 8,38,33,672 x - - - -
FCF Yield 0% 0% 0% 0% - - - -
Price to Book 5.35 x 5.94 x 1.51 x 2.07 x - 0.81 x 0.74 x 0.79 x
Nbr of stocks (in thousands) 21,91,092 21,95,104 21,74,682 21,76,466 21,78,851 21,78,851 - -
Reference price 3 16.32 18.64 4.880 6.230 2.680 2.330 2.330 2.330
Announcement Date 30/03/20 25/03/21 24/03/22 23/03/23 27/03/24 - - -
1HKD in Million2CNY in Million3HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,905 3,649 4,140 3,819 3,979 4,355 4,972 5,310
EBITDA 1 1,549 1,173 1,172 1,189 1,136 1,393 1,698 1,668
EBIT 1 1,006 570 551.3 411 324.7 521.4 866.1 818.9
Operating Margin 25.75% 15.62% 13.32% 10.76% 8.16% 11.97% 17.42% 15.42%
Earnings before Tax (EBT) 1 1,070 443.7 468.8 498 368 479.4 775.2 744.9
Net income 1 847.8 257.6 302.2 366.6 272.6 372.4 578.4 572.2
Net margin 21.71% 7.06% 7.3% 9.6% 6.85% 8.55% 11.63% 10.78%
EPS 2 0.4461 0.1339 0.1632 0.1921 0.1339 0.1840 0.2960 0.2853
Free Cash Flow 1,225 779.4 214.8 142.8 - - - -
FCF margin 31.36% 21.36% 5.19% 3.74% - - - -
FCF Conversion (EBITDA) 79.07% 66.43% 18.33% 12.02% - - - -
FCF Conversion (Net income) 144.46% 302.56% 71.08% 38.97% - - - -
Dividend per Share 2 0.2075 0.2682 0.2457 0.2302 - 0.1410 0.2330 0.2060
Announcement Date 30/03/20 25/03/21 24/03/22 23/03/23 27/03/24 - - -
1CNY in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1
Net sales 1 1,517 2,001 1,879 1,940 - 2,026 2,129 2,168 2,385 2,397 2,581
EBITDA 1 - - - - - - 766.8 640.1 907.1 748.7 1,002
EBIT - 376.3 408.4 - - - - - - - -
Operating Margin - 18.81% 21.74% - - - - - - - -
Earnings before Tax (EBT) 1 - - 326 172.1 - 93.05 345 218.3 453.9 295.5 527.8
Net income 1 243 - 236.1 130.5 203.8 68.79 258.7 163.7 340.4 221.6 395.9
Net margin 16.02% - 12.57% 6.73% - 3.4% 12.15% 7.55% 14.27% 9.25% 15.34%
EPS - - - 0.0685 0.0986 - - - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 19/08/20 25/08/21 24/08/22 23/03/23 12/09/23 27/03/24 - - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 5,775 4,281 3,275 - - 2,893 2,942 3,437
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1,225 779 215 143 - - - -
ROE (net income / shareholders' equity) 25.7% 4.24% 5.13% 6.41% - 6.61% 8.62% 9%
ROA (Net income/ Total Assets) 14.4% 2.64% 3.11% 3.84% - 4% 4.81% 5.73%
Assets 1 5,885 9,750 9,728 9,555 - 9,317 12,025 9,992
Book Value Per Share 2 3.050 3.140 3.240 3.020 - 2.860 3.170 2.960
Cash Flow per Share 2 0.8400 0.5900 0.5300 0.3200 - 0.9000 0.9100 -
Capex 1 371 332 763 479 - 953 945 706
Capex / Sales 9.51% 9.11% 18.43% 12.54% - 21.88% 19% 13.29%
Announcement Date 30/03/20 25/03/21 24/03/22 23/03/23 27/03/24 - - -
1CNY in Million2HKD
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
2.33 HKD
Average target price
4.295 HKD
Spread / Average Target
+84.33%
Consensus

Quarterly revenue - Rate of surprise

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