Company Valuation: Tianshan Material Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 15,836 1,27,820 73,812 57,872 40,245 38,041 38,041 -
Change - 707.16% -42.25% -21.6% -30.46% -5.48% 0% -
Enterprise Value (EV) 15,836 1,27,820 1,55,016 1,49,098 40,245 38,041 38,041 38,041
Change - 707.16% 21.28% -3.82% -73.01% -5.48% 0% 0%
P/E ratio 10.4x 9.78x 16.2x 29.5x -75.9x 48.6x 16.4x 13.8x
PBR 1.49x 1.68x 0.9x 0.69x 0.49x 0.46x 0.45x 0.44x
PEG - 1.18x -0.2x -0.5x 1x -0x 0x 0.8x
Capitalization / Revenue 1.82x 0.75x 0.56x 0.54x 0.46x 0.5x 0.47x 0.47x
EV / Revenue 0x 0x 0x 0x 0x 0.5x 0.47x 0.47x
EV / EBITDA 0x 0x 0x 0x 0x 3.27x 2.37x 2.26x
EV / EBIT 0x 0x 0x 0x 0x 196x 12.5x 10.2x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.48 0.33 0.27 0.114 - - - -
Rate of return 3.18% 2.16% 3.17% 1.71% - - - -
EPS 2 1.446 1.565 0.5259 0.2268 -0.0746 0.11 0.3267 0.3867
Distribution rate 33.2% 21.1% 51.3% 50.3% - - - -
Net sales 1 8,692 1,69,979 1,32,581 1,07,380 86,995 76,473 81,187 81,683
EBITDA 1 2,948 30,246 17,220 13,287 10,589 11,628 16,082 16,819
EBIT 1 2,162 20,411 6,604 2,576 21.8 193.7 3,037 3,747
Net income 1 1,516 12,530 4,542 1,965 -598.4 761 2,302 2,748
Net Debt - - 81,204 91,227 - - - -
Reference price 2 15.100 15.310 8.520 6.680 5.660 5.350 5.350 5.350
Nbr of stocks (in thousands) 10,48,723 83,48,806 86,63,423 86,63,423 71,10,492 71,10,492 71,10,492 -
Announcement Date 11/03/21 21/03/22 21/03/23 26/03/24 26/03/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
48.64x - - - 550.48Cr
24.64x2.87x11.66x2.17% 5.46TCr
14.35x0.92x4.26x3.39% 1.84TCr
46.06x3.76x14.69x-.--% 1.36TCr
54.04x4.53x20.56x0.51% 1.06TCr
11.3x1.82x6.87x1.5% 1.11TCr
12.77x3.35x7.58x7.14% 919.35Cr
17.96x3.9x11.68x0.43% 723.76Cr
16.53x1.62x6.58x2.34% 615.52Cr
80.44x1.93x8.93x3.86% 606.63Cr
Average 32.67x 2.75x 10.31x 2.37% 1.42TCr
Weighted average by Cap. 28.35x 2.73x 10.64x 2.26%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Tianshan Material Co., Ltd.