Stock 000568 LUZHOU LAOJIAO CO.,LTD
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Financials Luzhou Laojiao Co.,Ltd

Equities

000568

CNE000000GF2

Distillers & Wineries

End-of-day quote Shenzhen S.E.
Other stock markets
 03:30:00 15/07/2024 am IST 		5-day change 1st Jan Change
138.3 CNY +1.04% Intraday chart for Luzhou Laojiao Co.,Ltd +0.68% -22.92%
28/06 Luzhou Laojiao Co.,Ltd Approves the Cash Dividend for the Year 2023 CI
28/06 Luzhou Laojiao Co.,Ltd Approves Board Appointments CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,26,965 3,31,268 3,71,857 3,30,117 2,64,104 2,03,576 - -
Enterprise Value (EV) 1 1,19,702 3,23,704 3,62,420 3,18,617 2,49,730 1,83,356 1,74,796 1,69,414
P/E ratio 27.3 x 55.2 x 46.8 x 31.8 x 19.9 x 12.7 x 10.7 x 9.12 x
Yield 1.83% 0.91% 1.28% 1.88% 3.01% 4.5% 5.31% 6.26%
Capitalization / Revenue 8.03 x 19.9 x 18 x 13.1 x 8.74 x 5.64 x 4.79 x 4.18 x
EV / Revenue 7.57 x 19.4 x 17.6 x 12.7 x 8.26 x 5.08 x 4.12 x 3.48 x
EV / EBITDA 19 x 39.2 x 32.5 x 22 x 13.5 x 8.42 x 6.84 x 5.72 x
EV / FCF 444 x 116 x 63.3 x 43.7 x 27.1 x 11.5 x 10.2 x 8.61 x
FCF Yield 0.23% 0.86% 1.58% 2.29% 3.69% 8.68% 9.82% 11.6%
Price to Book 6.54 x 14.4 x 13.3 x 9.65 x 6.38 x 4.08 x 3.34 x 2.85 x
Nbr of stocks (in thousands) 14,64,752 14,64,752 14,64,752 14,71,895 14,71,988 14,71,988 - -
Reference price 2 86.68 226.2 253.9 224.3 179.4 138.3 138.3 138.3
Announcement Date 28/04/20 29/03/21 11/03/22 28/04/23 26/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 15,817 16,653 20,642 25,124 30,233 36,068 42,464 48,733
EBITDA 1 6,287 8,268 11,142 14,476 18,509 21,771 25,572 29,630
EBIT 1 6,119 7,959 10,590 13,847 17,842 20,896 24,860 29,053
Operating Margin 38.69% 47.8% 51.3% 55.12% 59.01% 57.93% 58.54% 59.62%
Earnings before Tax (EBT) 1 6,104 7,939 10,551 13,855 17,806 21,328 25,353 29,677
Net income 1 4,642 6,006 7,956 10,365 13,246 15,947 18,971 22,177
Net margin 29.35% 36.06% 38.54% 41.26% 43.81% 44.21% 44.68% 45.51%
EPS 2 3.170 4.100 5.430 7.060 9.020 10.85 12.93 15.16
Free Cash Flow 1 269.4 2,793 5,723 7,294 9,216 15,919 17,164 19,673
FCF margin 1.7% 16.77% 27.72% 29.03% 30.48% 44.14% 40.42% 40.37%
FCF Conversion (EBITDA) 4.29% 33.78% 51.36% 50.39% 49.79% 73.12% 67.12% 66.39%
FCF Conversion (Net income) 5.8% 46.5% 71.93% 70.37% 69.58% 99.82% 90.48% 88.71%
Dividend per Share 2 1.590 2.051 3.244 4.225 5.400 6.223 7.341 8.654
Announcement Date 28/04/20 29/03/21 11/03/22 28/04/23 26/04/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 6,532 11,325 6,312 5,352 5,860 7,599 7,610 6,983 7,350 8,291 9,188 8,211 8,826 9,928 10,863 9,968
EBITDA 2,524 - - 3,469 3,646 - - - - - - - - - - -
EBIT 1 2,262 4,996 3,877 3,489 3,600 2,881 4,925 4,574 4,645 3,698 6,112 5,188 5,477 4,217 - -
Operating Margin 34.62% 44.11% 61.42% 65.18% 61.43% 37.92% 64.72% 65.51% 63.2% 44.6% 66.52% 63.18% 62.05% 42.48% - -
Earnings before Tax (EBT) 2,247 4,939 - 3,494 3,603 2,877 - 4,577 4,658 3,641 - - - - - -
Net income 1 1,680 3,729 - 2,656 2,685 2,148 - 3,378 3,476 2,680 - 3,979 3,846 3,378 - -
Net margin 25.72% 32.93% - 49.63% 45.82% 28.27% - 48.37% 47.29% 32.33% - 48.45% 43.58% 34.02% - -
EPS 2 1.150 2.540 1.960 1.800 1.830 1.470 2.530 2.290 2.370 1.830 3.120 2.742 2.795 2.205 - -
Dividend per Share 2 3.244 - - - - 4.225 - - - 5.400 - - - 6.352 - -
Announcement Date 11/03/22 11/03/22 28/04/22 28/08/22 27/10/22 28/04/23 28/04/23 28/08/23 30/10/23 26/04/24 27/04/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 7,263 7,565 9,437 11,500 14,374 20,220 28,780 34,162
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 269 2,793 5,723 7,294 9,216 15,919 17,164 19,673
ROE (net income / shareholders' equity) 25.5% 28.3% 31.2% 33.3% 35.1% 34% 33% 33.7%
ROA (Net income/ Total Assets) 18% 18.8% 20.1% - 29.7% 22.5% 23.2% 23.6%
Assets 1 25,763 31,968 39,640 - 44,538 70,856 81,669 93,812
Book Value Per Share 2 13.20 15.80 19.10 23.20 28.10 33.90 41.40 48.60
Cash Flow per Share 2 3.310 3.360 5.260 5.610 7.230 12.10 13.50 15.50
Capex 1 4,572 2,123 1,976 969 1,432 1,663 1,618 1,517
Capex / Sales 28.91% 12.75% 9.57% 3.86% 4.74% 4.61% 3.81% 3.11%
Announcement Date 28/04/20 29/03/21 11/03/22 28/04/23 26/04/24 - - -
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 Luzhou Laojiao Co.,Ltd

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
23
Last Close Price
138.3 CNY
Average target price
245.1 CNY
Spread / Average Target
+77.26%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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