Financials ENN Energy Holdings Limited

Equities

2688

KYG3066L1014

Natural Gas Utilities

Market Closed - Hong Kong S.E. 01:38:20 26/04/2024 pm IST 5-day change 1st Jan Change
66.85 HKD +1.60% Intraday chart for ENN Energy Holdings Limited +8.88% +16.26%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 85,644 1,07,844 1,34,859 1,09,208 58,980 69,584 - -
Enterprise Value (EV) 1 97,966 1,19,227 1,46,065 1,20,944 58,980 82,109 81,751 80,477
P/E ratio 15.1 x 17.2 x 17.4 x 18.7 x 8.65 x 9.66 x 8.75 x 8.04 x
Yield 1.97% 1.85% 1.85% 2.12% - 4.5% 4.87% 5.69%
Capitalization / Revenue 1.22 x 1.51 x 1.45 x 0.99 x 0.52 x 0.6 x 0.56 x 0.53 x
EV / Revenue 1.4 x 1.66 x 1.57 x 1.1 x 0.52 x 0.7 x 0.66 x 0.61 x
EV / EBITDA 9.7 x 9.9 x 11.5 x 10.3 x 4.72 x 6.21 x 5.58 x 5.14 x
EV / FCF 22.2 x 28.5 x 36 x 31.3 x - 30.5 x 16.7 x 16.5 x
FCF Yield 4.51% 3.51% 2.78% 3.19% - 3.28% 5.99% 6.07%
Price to Book 3.3 x 3.52 x 3.77 x 2.8 x - 1.49 x 1.34 x 1.25 x
Nbr of stocks (in thousands) 11,25,474 11,25,950 11,27,451 11,28,226 11,28,534 11,24,487 - -
Reference price 2 76.10 95.78 119.6 96.80 52.26 61.88 61.88 61.88
Announcement Date 16/03/20 22/03/21 18/03/22 24/03/23 22/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 70,183 71,617 93,113 1,10,051 1,13,858 1,16,660 1,24,216 1,31,252
EBITDA 1 10,100 12,039 12,724 11,710 12,486 13,219 14,643 15,658
EBIT 1 8,695 10,449 10,985 9,699 10,313 10,627 11,802 13,156
Operating Margin 12.39% 14.59% 11.8% 8.81% 9.06% 9.11% 9.5% 10.02%
Earnings before Tax (EBT) 1 8,841 9,558 11,393 9,052 10,005 10,698 11,763 12,951
Net income 1 5,670 6,278 7,755 5,865 6,816 7,283 7,978 8,709
Net margin 8.08% 8.77% 8.33% 5.33% 5.99% 6.24% 6.42% 6.64%
EPS 2 5.040 5.570 6.860 5.190 6.040 6.408 7.074 7.692
Free Cash Flow 1 4,418 4,181 4,057 3,861 - 2,690 4,899 4,883
FCF margin 6.29% 5.84% 4.36% 3.51% - 2.31% 3.94% 3.72%
FCF Conversion (EBITDA) 43.74% 34.73% 31.88% 32.97% - 20.35% 33.46% 31.18%
FCF Conversion (Net income) 77.92% 66.6% 52.31% 65.83% - 36.93% 61.41% 56.07%
Dividend per Share 2 1.500 1.770 2.210 2.050 - 2.787 3.015 3.522
Announcement Date 16/03/20 22/03/21 18/03/22 24/03/23 22/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1
Net sales 1 34,839 31,543 40,074 41,232 51,881 58,332
EBITDA - - - - - -
EBIT 1 3,749 4,628 5,821 5,871 5,114 5,960
Operating Margin 10.76% 14.67% 14.53% 14.24% 9.86% 10.22%
Earnings before Tax (EBT) 1 - - - - - 4,803
Net income 1 2,308 2,693 - 3,765 - 3,104
Net margin 6.62% 8.54% - 9.13% - 5.32%
EPS - - 3.180 3.320 3.540 -
Dividend per Share - - - - - -
Announcement Date 16/03/20 20/08/20 22/03/21 23/08/21 18/03/22 19/08/22
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 12,322 11,383 11,206 11,736 - 12,525 12,166 10,892
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.22 x 0.9455 x 0.8807 x 1.002 x - 0.9475 x 0.8308 x 0.6956 x
Free Cash Flow 1 4,418 4,181 4,057 3,861 - 2,690 4,899 4,883
ROE (net income / shareholders' equity) 21.9% 22.3% 23.4% 15.7% - 15.9% 15.6% 15.2%
ROA (Net income/ Total Assets) 6.66% 7.33% 8.16% 5.8% - 6.77% 7.05% 7.32%
Assets 1 85,135 85,645 95,013 1,01,170 - 1,07,551 1,13,218 1,19,010
Book Value Per Share 2 23.00 27.20 31.80 34.60 - 41.40 46.20 49.40
Cash Flow per Share 2 10.40 8.610 9.260 8.960 8.520 9.150 10.90 10.90
Capex 1 7,272 5,515 6,253 6,241 - 7,555 7,358 7,971
Capex / Sales 10.36% 7.7% 6.72% 5.67% - 6.48% 5.92% 6.07%
Announcement Date 16/03/20 22/03/21 18/03/22 24/03/23 22/03/24 - - -
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
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
61.88 CNY
Average target price
66.63 CNY
Spread / Average Target
+7.67%
Consensus

Quarterly revenue - Rate of surprise

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