Financials IKD Co., Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 03:30:00 14/05/2024 am IST			5-day change	1st Jan Change
19.02 ^CNY	-0.63%		-0.73%	-13.31%

26/04	IKD Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
26/04	IKD Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,885	13,342	16,527	15,994	19,685	18,328	-	-
Enterprise Value (EV) ¹	11,885	13,342	16,527	15,994	19,685	18,328	18,328	18,328
P/E ratio	26.8 x	31.8 x	53.6 x	25.6 x	23.6 x	16.3 x	12.7 x	10.4 x
Yield	-	1.6%	1.04%	1.26%	1.32%	1.79%	2.2%	2.72%
Capitalization / Revenue	4.52 x	5.15 x	5.16 x	3.75 x	3.3 x	2.39 x	1.91 x	1.52 x
EV / Revenue	4.52 x	5.15 x	5.16 x	3.75 x	3.3 x	2.39 x	1.91 x	1.52 x
EV / EBITDA	15.1 x	16.5 x	22.8 x	12.9 x	10.8 x	9.44 x	7.95 x	6.42 x
EV / FCF	-	-	-	-22.1 x	-34.8 x	-54.5 x	-137 x	72.4 x
FCF Yield	-	-	-	-4.53%	-2.87%	-1.83%	-0.73%	1.38%
Price to Book	2.93 x	3.07 x	3.64 x	3.04 x	3.17 x	2.49 x	2.18 x	1.87 x
Nbr of stocks (in thousands)	8,52,564	8,55,285	8,57,186	8,78,319	8,97,222	9,63,594	-	-
Reference price ²	13.94	15.60	19.28	18.21	21.94	19.02	19.02	19.02
Announcement Date	14/04/20	25/03/21	17/03/22	22/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,627	2,591	3,206	4,265	5,957	7,655	9,604	12,030
EBITDA ¹	786	807	726	1,244	1,821	1,942	2,306	2,853
EBIT ¹	535	474.6	340.4	741.1	1,065	1,299	1,642	2,033
Operating Margin	20.37%	18.32%	10.62%	17.37%	17.87%	16.97%	17.1%	16.9%
Earnings before Tax (EBT) ¹	558.7	490.4	348.9	742.1	1,065	1,302	1,645	2,036
Net income ¹	439.4	425.9	309.9	648.5	913.4	1,127	1,428	1,761
Net margin	16.73%	16.44%	9.67%	15.21%	15.33%	14.72%	14.87%	14.64%
EPS ²	0.5200	0.4900	0.3600	0.7100	0.9300	1.170	1.500	1.826
Free Cash Flow ¹	-	-	-	-724.1	-565.1	-336	-134	253
FCF margin	-	-	-	-16.98%	-9.49%	-4.39%	-1.4%	2.1%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	8.87%
FCF Conversion (Net income)	-	-	-	-	-	-	-	14.37%
Dividend per Share ²	-	0.2500	0.2000	0.2300	0.2900	0.3400	0.4175	0.5167
Announcement Date	14/04/20	25/03/21	17/03/22	22/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	-	-	-	-724	-565	-336	-134	253
ROE (net income / shareholders' equity)	11.2%	10.2%	6.94%	13.5%	15%	15.5%	17.4%	17.9%
ROA (Net income/ Total Assets)	-	7.78%	5.07%	7.86%	7.9%	8.39%	9.04%	9.64%
Assets ¹	-	5,477	6,114	8,248	11,555	13,441	15,794	18,266
Book Value Per Share ²	4.760	5.080	5.290	5.990	6.920	7.640	8.730	10.20
Cash Flow per Share ²	1.110	0.8600	0.5600	0.7300	1.460	1.280	1.580	2.010
Capex ¹	381	479	1,083	1,371	1,871	1,165	1,229	1,238
Capex / Sales	14.51%	18.5%	33.78%	32.15%	31.41%	15.22%	12.8%	10.29%
Announcement Date	14/04/20	25/03/21	17/03/22	22/03/23	26/04/24	-	-	-

¹CNY in Million²CNY

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19.02 CNY

Average target price

27.54 CNY

Spread / Average Target

+44.82%

	1st Jan change	Capi.
IKD CO., LTD.	-13.31%	253.41Cr
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APTIV PLC	-7.67%	2.25TCr
WEICHAI POWER CO., LTD.	+27.61%	2.05TCr
FUYAO GLASS INDUSTRY GROUP CO., LTD.	+36.72%	1.8TCr
HYUNDAI MOBIS CO.,LTD	-5.27%	1.48TCr
MAGNA INTERNATIONAL INC.	-17.12%	1.37TCr
CONTINENTAL AG	-18.07%	1.34TCr
SUMITOMO ELECTRIC INDUSTRIES, LTD.	+31.30%	1.17TCr
BOSCH LIMITED	+39.46%	1.13TCr