Financials Yuexiu Transport Infrastructure Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 01:38:20 26/04/2024 pm IST			5-day change	1st Jan Change
3.86 ^HKD	+0.52%		+0.78%	-9.18%

19/04	Yuexiu Transport Completes Issue of 1 Billion Yuan Medium-Term Notes	MT
17/04	Yuexiu Transport Infrastructure Limited Announces Board and Committees Changes	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,595	8,834	7,730	7,111	7,111	6,458	-	-
Enterprise Value (EV) ¹	29,439	25,165	24,713	24,442	23,086	20,919	21,249	17,175
P/E ratio	9.1 x	46.2 x	4.27 x	13.8 x	8.55 x	6.92 x	6.32 x	5.89 x
Yield	5.66%	1.32%	13.3%	4.66%	6.99%	8.2%	8.95%	9.12%
Capitalization / Revenue	3.42 x	2.54 x	1.69 x	1.9 x	1.65 x	1.44 x	1.39 x	1.39 x
EV / Revenue	8.69 x	7.23 x	5.4 x	6.54 x	5.35 x	4.67 x	4.57 x	3.68 x
EV / EBITDA	10.1 x	8.6 x	6.07 x	7.5 x	6.03 x	5.65 x	5.42 x	4.23 x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.98 x	0.71 x	0.55 x	0.56 x	0.56 x	0.5 x	0.48 x	0.46 x
Nbr of stocks (in thousands)	16,73,162	16,73,162	16,73,162	16,73,162	16,73,162	16,73,162	-	-
Reference price ²	6.930	5.280	4.620	4.250	4.250	3.860	3.860	3.860
Announcement Date	06/03/20	09/03/21	08/03/22	06/03/23	05/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,388	3,483	4,579	3,738	4,312	4,480	4,647	4,663
EBITDA ¹	2,901	2,925	4,072	3,259	3,826	3,701	3,918	4,060
EBIT ¹	2,151	1,595	3,282	1,654	1,961	2,145	2,261	2,298
Operating Margin	63.5%	45.81%	71.68%	44.24%	45.49%	47.87%	48.66%	49.28%
Earnings before Tax (EBT) ¹	2,130	813.9	2,744	1,211	1,684	1,813	1,930	1,999
Net income ¹	1,275	191.4	1,812	515	831.8	936	1,012	1,109
Net margin	37.63%	5.5%	39.57%	13.78%	19.29%	20.89%	21.78%	23.78%
EPS ²	0.7619	0.1144	1.083	0.3078	0.4972	0.5580	0.6106	0.6553
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.3924	0.0697	0.6132	0.1980	0.2972	0.3163	0.3453	0.3520
Announcement Date	06/03/20	09/03/21	08/03/22	06/03/23	05/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	17,844	16,331	16,983	17,331	15,976	14,461	14,791	10,717
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	6.151 x	5.584 x	4.171 x	5.319 x	4.176 x	3.908 x	3.775 x	2.64 x
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	11%	1.53%	13.4%	3.98%	6.7%	6.94%	7.25%	7.19%
ROA (Net income/ Total Assets)	3.82%	0.44%	4.07%	-	2.1%	2.19%	2.26%	2.18%
Assets ¹	33,358	43,634	44,544	-	39,586	42,738	44,772	50,865
Book Value Per Share ²	7.090	7.430	8.470	7.620	7.550	7.770	8.040	8.330
Cash Flow per Share ²	1.440	1.500	1.890	1.500	1.820	1.800	1.680	1.500
Capex ¹	6,691	403	460	381	689	2,883	3,372	3,399
Capex / Sales	197.52%	11.58%	10.05%	10.2%	15.98%	64.35%	72.58%	72.9%
Announcement Date	06/03/20	09/03/21	08/03/22	06/03/23	05/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.86 HKD

Average target price

5.686 HKD

Spread / Average Target

+47.31%

	1st Jan change	Capi.
YUEXIU TRANSPORT INFRASTRUCTURE LIMITED	-9.18%	825M
TRANSURBAN GROUP	-9.26%	25.09B
MUNDYS S.P.A.	+0.22%	20.21B
CHINA MERCHANTS EXPRESSWAY NETWORK & TECHNOLOGY HOLDINGS CO.,LTD.	+17.30%	10.79B
JIANGSU EXPRESSWAY COMPANY LIMITED	+11.54%	7.27B
SALIK COMPANY	+9.97%	6.98B
IMPULSORA DEL DESARROLLO Y EL EMPLEO EN AMÉRICA LATINA, S.A.B. DE C.V.	+5.41%	6.49B
SHANDONG HI-SPEED COMPANY LIMITED	+33.00%	6.17B
GRUPO CCR S.A.	-11.92%	4.91B
ATLAS ARTERIA LIMITED	-10.73%	4.88B