Company Valuation: Suzhou Maxwell Technologies Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 35,205 69,413 71,473 36,015 29,327 68,814 68,814 -
Change - 97.17% 2.97% -49.61% -18.57% 134.65% 0% -
Enterprise Value (EV) 1 34,607 66,732 68,237 34,098 28,421 66,438 64,700 64,376
Change - 92.83% 2.26% -50.03% -16.65% 133.77% -2.62% -0.5%
P/E ratio 90.8x 104x 83.4x 39.5x 31.7x 79.1x 67.3x 48.1x
PBR 20.2x 11.8x 11.1x 5.08x 3.89x 8.38x 7.63x 6.75x
PEG - 2.1x 2.9x 6.34x 25.99x -13.59x 3.9x 1.2x
Capitalization / Revenue 15.4x 22.4x 17.2x 4.45x 2.98x 7.24x 7.45x 6.45x
EV / Revenue 15.1x 21.6x 16.4x 4.22x 2.89x 6.99x 7x 6.04x
EV / EBITDA 84.6x 100x 77.6x 31.9x 23.5x 50.4x 47.9x 39.2x
EV / EBIT 89x 106x 83x 35.3x 27.8x 68.9x 62.2x 48.1x
EV / FCF 156x 123x 420x -49x -39.8x 60.9x 78.4x 57.8x
FCF Yield 0.64% 0.81% 0.24% -2.04% -2.51% 1.64% 1.28% 1.73%
Dividend per Share 2 0.3255 0.5859 0.9375 1.1 0.6 0.7788 0.9391 1.056
Rate of return 0.22% 0.23% 0.36% 0.85% 0.57% 0.32% 0.38% 0.43%
EPS 2 1.619 2.402 3.088 3.28 3.32 3.127 3.671 5.139
Distribution rate 20.1% 24.4% 30.4% 33.5% 18.1% 24.9% 25.6% 20.5%
Net sales 1 2,285 3,095 4,148 8,089 9,830 9,507 9,237 10,664
EBITDA 1 409 664.7 879.6 1,069 1,210 1,319 1,350 1,642
EBIT 1 389 630 822.4 967 1,023 964.4 1,041 1,337
Net income 1 394.4 642.8 861.9 913.9 925.9 873 1,025 1,288
Net Debt 1 -598 -2,681 -3,236 -1,917 -905.6 -2,376 -4,114 -4,438
Reference price 2 146.92 250.90 257.40 129.51 105.15 247.18 247.18 247.18
Nbr of stocks (in thousands) 2,39,616 2,76,656 2,77,673 2,78,085 2,78,902 2,78,396 2,78,396 -
Announcement Date 09/04/21 10/03/22 24/04/23 24/04/24 28/04/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
79.05x6.99x50.37x0.32% 997.87Cr
30.24x2.59x18.1x0.55% 2.48TCr
25.82x5.62x17.43x1.26% 1.49TCr
50.65x6.28x42.25x0.7% 1.23TCr
13.19x1.09x7.58x5.23% 554.53Cr
40.12x4.33x17.62x - 511.46Cr
9.44x1.56x6.45x3.77% 469.76Cr
37.94x2.39x19.98x0.89% 463.06Cr
12.19x0.59x5.65x2.44% 437.34Cr
29.13x3.3x15.51x - 357.97Cr
Average 32.78x 3.47x 20.09x 1.89% 899.83Cr
Weighted average by Cap. 35.62x 3.96x 22.98x 1.3%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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