CHINA THREE GORGES RENEWABLES (GROUP) CO.,LTD. Financials China Three Gorges Renewables (Group) Co.,Ltd.
Equities
600905
CNE1000051F2
Electric Utilities
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4.36 CNY | +1.87% |
|
+1.16% | -0.23% |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,14,568 | 1,61,700 | 1,25,082 | 1,24,789 | - | - |
| Enterprise Value (EV) 1 | 2,14,568 | 2,75,859 | 1,25,082 | 2,84,088 | 2,83,389 | 2,77,166 |
| P/E ratio | 33 x | 22.6 x | 17.4 x | 14.3 x | 12.2 x | 11 x |
| Yield | 0.28% | 1.35% | 1.78% | 1.86% | 1.91% | 2.9% |
| Capitalization / Revenue | 13.9 x | 6.79 x | 4.72 x | 3.76 x | 3.28 x | 2.91 x |
| EV / Revenue | 13.9 x | 11.6 x | 4.72 x | 8.56 x | 7.46 x | 6.46 x |
| EV / EBITDA | 14.6 x | 16.1 x | 6.72 x | 9.98 x | 8.52 x | 7.81 x |
| EV / FCF | -10.2 x | -25.4 x | -4.78 x | 93.5 x | -4.04 x | -10.5 x |
| FCF Yield | -9.83% | -3.93% | -20.9% | 1.07% | -24.8% | -9.54% |
| Price to Book | 3.12 x | 2.1 x | 1.52 x | 1.4 x | 1.28 x | 1.17 x |
| Nbr of stocks (in thousands) | 2,85,71,000 | 2,86,19,530 | 2,86,22,959 | 2,86,21,259 | - | - |
| Reference price 2 | 7.510 | 5.650 | 4.370 | 4.360 | 4.360 | 4.360 |
| Announcement Date | 10/03/22 | 07/02/23 | 19/01/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 15,484 | 23,812 | 26,485 | 33,186 | 37,989 | 42,893 |
| EBITDA 1 | - | 14,689 | 17,094 | 18,620 | 28,454 | 33,277 | 35,479 |
| EBIT 1 | - | 6,784 | 9,217 | 8,991 | 11,083 | 12,871 | 14,779 |
| Operating Margin | - | 43.81% | 38.71% | 33.95% | 33.39% | 33.88% | 34.46% |
| Earnings before Tax (EBT) 1 | - | 6,640 | 9,069 | 9,018 | 11,024 | 12,747 | 14,498 |
| Net income 1 | 3,611 | 5,642 | 7,155 | 7,181 | 8,729 | 10,216 | 11,379 |
| Net margin | - | 36.44% | 30.05% | 27.11% | 26.3% | 26.89% | 26.53% |
| EPS 2 | - | 0.2279 | 0.2501 | 0.2509 | 0.3050 | 0.3563 | 0.3980 |
| Free Cash Flow 1 | - | -21,086 | -10,844 | -26,190 | 3,039 | -70,190 | -26,449 |
| FCF margin | - | -136.18% | -45.54% | -98.89% | 9.16% | -184.76% | -61.66% |
| FCF Conversion (EBITDA) | - | - | - | - | 10.68% | - | - |
| FCF Conversion (Net income) | - | - | - | - | 34.81% | - | - |
| Dividend per Share 2 | - | 0.0212 | 0.0760 | 0.0780 | 0.0810 | 0.0831 | 0.1265 |
| Announcement Date | 08/06/21 | 10/03/22 | 07/02/23 | 19/01/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 |
|---|---|---|---|---|---|---|---|---|
| Net sales | - | - | - | 5,277 | 6,406 | 6,853 | 6,851 | - |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT | - | - | - | - | 1,694 | 3,000 | 2,555 | - |
| Operating Margin | - | - | - | - | 26.45% | 43.77% | 37.3% | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - |
| Net income 1 | 1,644 | 2,571 | 5,037 | - | - | 2,434 | - | 919.6 |
| Net margin | - | - | - | - | - | 35.51% | - | - |
| EPS | - | - | 0.1767 | - | 0.0324 | 0.0850 | 0.0700 | - |
| Dividend per Share | - | - | - | - | - | - | - | - |
| Announcement Date | 10/03/22 | 27/04/22 | 30/08/22 | 28/10/22 | 07/02/23 | 28/04/23 | 30/08/23 | 29/10/23 |
1CNY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 1,14,159 | - | 1,59,299 | 1,58,600 | 1,52,377 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | 6.678 x | - | 5.599 x | 4.766 x | 4.295 x |
| Free Cash Flow 1 | - | -21,086 | -10,844 | -26,190 | 3,039 | -70,190 | -26,449 |
| ROE (net income / shareholders' equity) | - | 10.1% | 9.72% | 8.99% | 9.71% | 10.2% | 10.6% |
| ROA (Net income/ Total Assets) | - | - | 2.73% | 1.89% | 2.7% | 2.89% | 3.06% |
| Assets 1 | - | - | 2,62,127 | 3,79,089 | 3,23,792 | 3,53,511 | 3,72,097 |
| Book Value Per Share 2 | - | 2.410 | 2.690 | 2.880 | 3.120 | 3.400 | 3.720 |
| Cash Flow per Share 2 | - | 0.3100 | 0.5900 | 0.5000 | 1.410 | 0.8900 | 1.630 |
| Capex 1 | - | 29,903 | 27,715 | 40,607 | 39,121 | 38,051 | 37,742 |
| Capex / Sales | - | 193.12% | 116.39% | 153.32% | 117.88% | 100.16% | 87.99% |
| Announcement Date | 08/06/21 | 10/03/22 | 07/02/23 | 19/01/24 | - | - | - |
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
12
Last Close Price
4.36
CNY
Average target price
5.319
CNY
Spread / Average Target
+22.00%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.23% | 17.17B | |
| +18.58% | 14.95B | |
| -1.04% | 2.71B | |
| -0.50% | 2.52B | |
| +22.58% | 2.45B | |
| +11.32% | 1.52B | |
| +3.66% | 1.43B | |
| +10.30% | 1.26B | |
| -14.76% | 1.05B | |
| 0.00% | 993M |
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- Financials China Three Gorges Renewables (Group) Co.,Ltd.
