MIDEA REAL ESTATE HOLDING LIMITED Financials Midea Real Estate Holding Limited
Equities
3990
KYG609201085
Real Estate Development & Operations
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4 HKD | +8.99% |
|
+12.36% | -25.51% |
| 02/04 | Midea Real Estate Logs 10.4 Billion Yuan in Q1 Contracted Sales | MT |
| 02/04 | Midea Real Estate Holding Limited Reports Unaudited Sales Results for the Three Months Ended 31 March 2024 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 16,727 | 26,283 | 17,939 | 12,190 | 14,413 | 5,315 | 5,315 | - |
| Enterprise Value (EV) 1 | 16,727 | 62,087 | 58,170 | 42,451 | 41,162 | 7,006 | 28,412 | 29,767 |
| P/E ratio | 4.56 x | 5.92 x | 4.14 x | 3.25 x | 7.94 x | 7.4 x | 5.52 x | 5.65 x |
| Yield | 7.66% | 6.86% | 4.61% | 13.2% | 6.58% | 14.8% | 8.88% | 9.11% |
| Capitalization / Revenue | 0.56 x | 0.64 x | 0.34 x | 0.17 x | 0.2 x | 0.1 x | 0.09 x | 0.11 x |
| EV / Revenue | 0.56 x | 1.51 x | 1.11 x | 0.58 x | 0.56 x | 0.1 x | 0.49 x | 0.59 x |
| EV / EBITDA | 2.48 x | 8.21 x | 8.9 x | 5.09 x | 5.64 x | 1.43 x | 7.13 x | 8.38 x |
| EV / FCF | -1 x | 175 x | -28 x | 13.9 x | 13.8 x | 7.91 x | -39.9 x | 7.68 x |
| FCF Yield | -100% | 0.57% | -3.58% | 7.18% | 7.23% | 12.6% | -2.51% | 13% |
| Price to Book | 1.04 x | 1.34 x | 0.81 x | 0.52 x | 0.58 x | 0.19 x | 0.2 x | 0.19 x |
| Nbr of stocks (in thousands) | 11,90,567 | 12,30,567 | 12,30,567 | 12,34,362 | 13,55,412 | 14,35,411 | 14,35,411 | - |
| Reference price 2 | 14.05 | 21.36 | 14.58 | 9.876 | 10.63 | 3.703 | 3.703 | 3.703 |
| Announcement Date | 28/03/19 | 30/03/20 | 24/03/21 | 25/03/22 | 24/03/23 | 27/03/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 30,120 | 41,139 | 52,484 | 73,703 | 73,631 | 73,564 | 57,870 | 50,365 |
| EBITDA 1 | 6,755 | 7,561 | 6,537 | 8,338 | 7,293 | 4,889 | 3,988 | 3,552 |
| EBIT 1 | 6,695 | 7,353 | 6,329 | 8,158 | 7,140 | 4,757 | 3,595 | 3,248 |
| Operating Margin | 22.23% | 17.87% | 12.06% | 11.07% | 9.7% | 6.47% | 6.21% | 6.45% |
| Earnings before Tax (EBT) 1 | 6,657 | 8,381 | - | 8,720 | 6,888 | 4,487 | 4,263 | 3,757 |
| Net income 1 | 3,210 | 4,305 | 4,326 | 3,744 | 1,726 | 913.6 | 939.6 | 874.8 |
| Net margin | 10.66% | 10.47% | 8.24% | 5.08% | 2.34% | 1.24% | 1.62% | 1.74% |
| EPS 2 | 3.080 | 3.610 | 3.520 | 3.040 | 1.340 | 0.6600 | 0.6712 | 0.6558 |
| Free Cash Flow 1 | -16,757 | 353.8 | -2,081 | 3,048 | 2,975 | 3,299 | -712 | 3,876 |
| FCF margin | -55.63% | 0.86% | -3.96% | 4.14% | 4.04% | 4.58% | -1.23% | 7.7% |
| FCF Conversion (EBITDA) | - | 4.68% | - | 36.56% | 40.8% | 51.69% | - | 109.13% |
| FCF Conversion (Net income) | - | 8.22% | - | 81.42% | 172.35% | 193.94% | - | 443.05% |
| Dividend per Share 2 | 1.077 | 1.465 | 0.6719 | 1.301 | 0.6999 | 0.5465 | 0.3287 | 0.3372 |
| Announcement Date | 28/03/19 | 30/03/20 | 24/03/21 | 25/03/22 | 24/03/23 | 27/03/24 | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S1 | 2020 S1 | 2021 S1 | 2022 S1 | 2022 S2 |
|---|---|---|---|---|---|
| Net sales | 14,195 | - | - | 31,663 | - |
| EBITDA | - | - | - | - | - |
| EBIT | - | - | - | - | - |
| Operating Margin | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - |
| Net income | 1,769 | - | - | - | - |
| Net margin | 12.46% | - | - | - | - |
| EPS | - | - | - | - | - |
| Dividend per Share 1 | - | - | - | - | 0.6999 |
| Announcement Date | 19/08/19 | 20/08/20 | 25/08/21 | 26/08/22 | 24/03/23 |
1CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 35,804 | 40,232 | 30,261 | 26,749 | 20,779 | 23,098 | 24,452 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 4.735 x | 6.155 x | 3.629 x | 3.668 x | 3.256 x | 5.792 x | 6.885 x |
| Free Cash Flow 1 | -16,757 | 354 | -2,081 | 3,048 | 2,975 | 3,299 | -712 | 3,876 |
| ROE (net income / shareholders' equity) | 24.4% | 24% | 20.7% | 16.4% | 7.14% | 6.93% | 3.63% | 3.35% |
| ROA (Net income/ Total Assets) | 2.21% | 2.02% | 1.62% | 1.31% | 0.64% | 0.99% | 0.6% | 0.66% |
| Assets 1 | 1,45,150 | 2,13,517 | 2,66,734 | 2,86,139 | 2,70,230 | 1,71,459 | 1,57,124 | 1,32,551 |
| Book Value Per Share 2 | 13.60 | 16.00 | 17.90 | 19.00 | 18.30 | 19.50 | 18.50 | 19.10 |
| Cash Flow per Share 2 | -14.00 | 0.5000 | -1.650 | 2.600 | 2.360 | 2.400 | -0.3600 | 2.850 |
| Capex 1 | 222 | 290 | 47.6 | 110 | 69 | 315 | 361 | 370 |
| Capex / Sales | 0.74% | 0.71% | 0.09% | 0.15% | 0.09% | 0.44% | 0.62% | 0.73% |
| Announcement Date | 28/03/19 | 30/03/20 | 24/03/21 | 25/03/22 | 24/03/23 | 27/03/24 | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
3.703
CNY
Average target price
4.792
CNY
Spread / Average Target
+29.42%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -25.51% | 733M | |
| +36.16% | 27.94B | |
| -13.74% | 26.97B | |
| +25.00% | 26.95B | |
| -0.71% | 25.32B | |
| +44.49% | 22.58B | |
| +2.78% | 19.59B | |
| +1.45% | 19.52B | |
| +28.54% | 16.23B | |
| -14.80% | 14.98B |
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