Financials Meituan OTC Markets

Equities

MPNGY

US58533E1038

Internet Services

Delayed OTC Markets 07:35:14 17/06/2024 pm IST 5-day change 1st Jan Change
29.8 USD +2.48% Intraday chart for Meituan +6.58% +41.84%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,28,942 14,58,935 11,26,918 9,55,524 4,64,829 6,69,641 - -
Enterprise Value (EV) 1 4,71,657 14,21,899 10,69,041 8,81,605 3,54,838 5,40,205 4,92,272 4,35,301
P/E ratio 240 x 318 x -47.1 x -142 x 35.3 x 24.5 x 16.6 x 12.9 x
Yield - - - - - - - -
Capitalization / Revenue 5.42 x 12.7 x 6.29 x 4.34 x 1.68 x 2.03 x 1.75 x 1.54 x
EV / Revenue 4.84 x 12.4 x 5.97 x 4.01 x 1.28 x 1.64 x 1.29 x 1 x
EV / EBITDA 65 x 300 x -110 x 90.7 x 14.9 x 13.3 x 8.98 x 6.2 x
EV / FCF 183 x -518 x -82.1 x 155 x 10.5 x 18.1 x 10.5 x 7.6 x
FCF Yield 0.55% -0.19% -1.22% 0.64% 9.48% 5.52% 9.53% 13.2%
Price to Book 5.7 x 14.8 x 8.83 x 7.42 x 3.06 x 3.7 x 2.98 x 2.37 x
Nbr of stocks (in thousands) 58,08,400 58,83,965 61,35,944 61,92,973 62,44,376 61,72,590 - -
Reference price 2 91.07 248.0 183.7 154.3 74.44 106.5 106.5 106.5
Announcement Date 30/03/20 26/03/21 25/03/22 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 97,529 1,14,795 1,79,128 2,19,955 2,76,745 3,29,986 3,82,421 4,35,349
EBITDA 1 7,254 4,738 -9,694 9,725 23,878 40,722 54,837 70,179
EBIT 1 2,700 4,330 -23,127 -5,820 13,415 30,315 43,616 57,175
Operating Margin 2.77% 3.77% -12.91% -2.65% 4.85% 9.19% 11.41% 13.13%
Earnings before Tax (EBT) 1 2,762 4,438 -23,566 -6,756 14,022 28,396 43,273 57,337
Net income 1 2,239 4,708 -23,538 -6,686 13,856 26,535 39,540 51,055
Net margin 2.3% 4.1% -13.14% -3.04% 5.01% 8.04% 10.34% 11.73%
EPS 2 0.3800 0.7800 -3.900 -1.090 2.110 4.352 6.409 8.286
Free Cash Flow 1 2,574 -2,748 -13,022 5,680 33,642 29,810 46,938 57,300
FCF margin 2.64% -2.39% -7.27% 2.58% 12.16% 9.03% 12.27% 13.16%
FCF Conversion (EBITDA) 35.49% - - 58.41% 140.89% 73.2% 85.6% 81.65%
FCF Conversion (Net income) 114.98% - - - 242.8% 112.34% 118.71% 112.23%
Dividend per Share 2 - - - - - - - -
Announcement Date 30/03/20 26/03/21 25/03/22 24/03/23 22/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 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 49,523 46,269 50,938 62,619 60,129 58,617 67,965 76,467 73,696 73,276 80,161 89,061 85,638 82,380 90,117
EBITDA 1 -2,010 -1,841 3,803 4,802 2,961 6,262 7,682 6,189 3,744 8,070 12,048 11,438 9,892 13,740 -
EBIT 1 -5,006 -5,584 -492.8 988.2 -731.6 3,586 4,713 3,359 1,758 5,209 9,689 8,993 7,862 8,783 10,794
Operating Margin -10.11% -12.07% -0.97% 1.58% -1.22% 6.12% 6.93% 4.39% 2.39% 7.11% 12.09% 10.1% 9.18% 10.66% 11.98%
Earnings before Tax (EBT) 1 -5,344 -5,758 -1,121 1,209 -1,085 3,367 4,699 3,643 2,313 5,481 9,242 8,127 6,884 8,498 8,237
Net income 1 -5,339 -5,703 -1,117 1,216 -1,083 3,358 4,688 3,593 2,216 5,369 7,901 7,200 6,313 - -
Net margin -10.78% -12.32% -2.19% 1.94% -1.8% 5.73% 6.9% 4.7% 3.01% 7.33% 9.86% 8.08% 7.37% - -
EPS 2 -0.8800 -0.9220 -0.1800 0.2000 -0.1880 - - - - - 1.247 1.212 0.9902 - -
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 25/03/22 02/06/22 26/08/22 25/11/22 24/03/23 25/05/23 24/08/23 28/11/23 22/03/24 06/06/24 - - - - -
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 57,286 37,036 57,876 73,919 1,09,991 1,29,435 1,77,369 2,34,340
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,574 -2,748 -13,022 5,680 33,642 29,810 46,938 57,301
ROE (net income / shareholders' equity) 2.51% 4.96% -21.1% -5.26% 9.87% 19% 21.7% 22.9%
ROA (Net income/ Total Assets) 1.77% 3.15% -11.6% -2.76% 5.16% 9.91% 11.6% 13.1%
Assets 1 1,26,334 1,49,295 2,03,614 2,42,602 2,68,756 2,67,697 3,41,453 3,91,117
Book Value Per Share 2 16.00 16.70 20.80 20.80 24.30 28.80 35.70 44.90
Cash Flow per Share 2 0.9400 1.410 -0.6600 1.850 6.430 6.600 9.360 12.00
Capex 1 3,000 11,223 9,010 5,731 6,880 8,347 9,181 9,771
Capex / Sales 3.08% 9.78% 5.03% 2.61% 2.49% 2.53% 2.4% 2.24%
Announcement Date 30/03/20 26/03/21 25/03/22 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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
46
Last Close Price
106.5 CNY
Average target price
133.9 CNY
Spread / Average Target
+25.71%
Consensus