Financials CoCreation Grass Co., Ltd

Equities

605099

CNE100004JF7

Commodity Chemicals

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 15/05/2024 am IST			5-day change	1st Jan Change
24.71 ^CNY	-0.56%		+2.28%	+22.45%

28/04	CoCreation Grass Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
28/04	CoCreation Grass Co., Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,423	14,154	9,280	8,074	9,886	-	-
Enterprise Value (EV) ¹	12,423	14,154	9,280	8,074	9,886	9,886	9,886
P/E ratio	28 x	37.2 x	20.7 x	18.7 x	18.8 x	15.8 x	13.6 x
Yield	-	-	2.41%	2.68%	2.69%	3.22%	3.32%
Capitalization / Revenue	6.71 x	6.15 x	3.76 x	3.28 x	3.27 x	2.82 x	2.47 x
EV / Revenue	6.71 x	6.15 x	3.76 x	3.28 x	3.27 x	2.82 x	2.47 x
EV / EBITDA	23.9 x	29.1 x	15.8 x	13.9 x	14.6 x	12.6 x	10.9 x
EV / FCF	-	63,50,18,696 x	-	-	-	-	-
FCF Yield	-	0%	-	-	-	-	-
Price to Book	6.83 x	7.12 x	4.07 x	3.24 x	3.54 x	3.15 x	2.79 x
Nbr of stocks (in thousands)	4,00,090	4,00,388	4,00,021	4,00,090	4,00,090	-	-
Reference price ²	31.05	35.35	23.20	20.18	24.71	24.71	24.71
Announcement Date	07/04/21	27/04/22	27/03/23	28/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,850	2,302	2,471	2,461	3,025	3,508	4,010
EBITDA ¹	518.8	486.8	586.8	579	677	786.6	903.6
EBIT ¹	445.3	392.9	481.1	474.6	574.8	682.5	794.2
Operating Margin	24.07%	17.07%	19.47%	19.28%	19%	19.45%	19.81%
Earnings before Tax (EBT) ¹	443.4	391.4	482.8	474.8	574.6	682.3	794.1
Net income ¹	410.9	380.3	447	431.2	527	625.8	726.7
Net margin	22.21%	16.52%	18.09%	17.52%	17.42%	17.84%	18.12%
EPS ²	1.110	0.9500	1.120	1.080	1.315	1.564	1.818
Free Cash Flow	-	22.29	-	-	-	-	-
FCF margin	-	0.97%	-	-	-	-	-
FCF Conversion (EBITDA)	-	4.58%	-	-	-	-	-
FCF Conversion (Net income)	-	5.86%	-	-	-	-	-
Dividend per Share ²	-	-	0.5600	0.5400	0.6650	0.7950	0.8200
Announcement Date	07/04/21	27/04/22	27/03/23	28/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 S1	2022 Q3
Net sales ¹	552.8	-	636.9
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income	59.85	208.7	-
Net margin	10.83%	-	-
EPS	-	0.5200	-
Dividend per Share	-	-	-
Announcement Date	27/04/22	17/08/22	30/10/22

¹CNY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	22.3	-	-	-	-	-
ROE (net income / shareholders' equity)	33.8%	20.3%	21%	18.3%	19.2%	20.2%	20.5%
ROA (Net income/ Total Assets)	24.4%	17%	17.1%	-	16.1%	17.3%	18.1%
Assets ¹	1,681	2,235	2,615	-	3,268	3,607	4,016
Book Value Per Share ²	4.540	4.970	5.700	6.230	6.980	7.850	8.840
Cash Flow per Share ²	1.010	0.6400	1.260	1.020	1.400	1.190	1.770
Capex ¹	97.3	233	133	88.1	132	155	128
Capex / Sales	5.26%	10.14%	5.38%	3.58%	4.35%	4.41%	3.19%
Announcement Date	07/04/21	27/04/22	27/03/23	28/04/24	-	-	-

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

Ratings for CoCreation Grass Co., Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

24.71 CNY

Average target price

27.16 CNY

Spread / Average Target

+9.90%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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