Company Valuation: WuXi AppTec Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 3,26,828 3,47,115 2,36,612 2,15,748 1,58,201 2,75,636 2,75,636 -
Change - 6.21% -31.83% -8.82% -26.67% 74.23% 0% -
Enterprise Value (EV) 1 3,19,817 3,42,141 2,33,509 2,06,634 1,44,342 2,53,803 2,43,498 2,30,807
Change - 6.98% -31.75% -11.51% -30.15% 75.83% -4.06% -5.21%
P/E ratio 106x 68.5x 28.7x 22.5x 16.9x 16x 17.1x 15x
PBR 9.65x 9.11x 5.15x 3.92x 2.71x 3.83x 3.27x 2.77x
PEG - 1.1x 0.5x 1.5x 27.38x 0.2x -2.49x 1.1x
Capitalization / Revenue 19.8x 15.2x 6.01x 5.35x 4.03x 6.15x 5.35x 4.67x
EV / Revenue 19.3x 14.9x 5.93x 5.12x 3.68x 5.66x 4.73x 3.91x
EV / EBITDA 73.6x 46.8x 18.9x 14.6x 10.1x 12.1x 11.1x 9.18x
EV / EBIT 94.4x 56.7x 21.9x 17.4x 12.5x 13.6x 13x 10.8x
EV / FCF 336x -146x 246x 26.2x 17.1x 14.2x 19.8x 14x
FCF Yield 0.3% -0.69% 0.41% 3.82% 5.83% 7.06% 5.05% 7.14%
Dividend per Share 2 0.3025 0.5174 0.8927 0.9834 0.9817 1.729 1.566 1.751
Rate of return 0.27% 0.44% 1.1% 1.35% 1.78% 1.87% 1.69% 1.89%
EPS 2 1.058 1.73 2.82 3.24 3.26 5.795 5.398 6.155
Distribution rate 28.6% 29.9% 31.7% 30.4% 30.1% 29.8% 29% 28.5%
Net sales 1 16,535 22,902 39,355 40,341 39,241 44,805 51,493 58,991
EBITDA 1 4,348 7,308 12,370 14,194 14,349 20,971 21,976 25,151
EBIT 1 3,389 6,038 10,652 11,872 11,580 18,643 18,716 21,373
Net income 1 2,960 5,097 8,814 9,607 9,450 16,234 15,993 18,324
Net Debt 1 -7,011 -4,974 -3,103 -9,115 -13,860 -21,833 -32,138 -44,829
Reference price 2 112.27 118.58 81.00 72.76 55.04 92.45 92.45 92.45
Nbr of stocks (in thousands) 29,30,032 29,55,700 29,60,507 29,68,761 28,87,993 29,63,757 29,63,757 -
Announcement Date 05/03/21 15/02/22 20/03/23 18/03/24 17/03/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.88x5.65x12.42x1.88% 3.98TCr
43.4x10.16x36.67x0.03% 4.57TCr
-55.61x18.81x-62.09x-.--% 3.23TCr
-26.13x4.34x-11.97x-.--% 2.6TCr
27.19x5.6x15.55x-.--% 1.87TCr
22.88x4.64x16.33x-.--% 1.72TCr
-287.59x22.61x951.22x-.--% 1.12TCr
-12.82x6087.18x-17.4x-.--% 1.19TCr
13.63x3.79x8.98x-.--% 1.08TCr
-140.09x35.39x-140.56x-.--% 1.04TCr
Average -39.93x 619.82x 80.92x 0.19% 2.24TCr
Weighted average by Cap. -16.28x 333.98x 42.55x 0.34%

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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