Company Valuation: First Tractor Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 11,571 9,548 12,426 13,459 13,313 13,008 - -
Change - -17.49% 30.14% 8.32% -1.09% -2.29% - -
Enterprise Value (EV) 1 11,571 9,548 12,426 13,459 11,852 10,634 9,379 8,006
Change - -17.49% 30.14% 8.32% -11.94% -10.28% -11.8% -14.65%
P/E - - - - 10.4x 8.95x 7.23x 5.74x
PBR - - - - - - - -
PEG - - - - - 0.6x 0.3x 0.2x
Capitalization / Revenue - 0.77x 1.08x 1.13x 1.23x 1.05x 0.94x 0.81x
EV / Revenue - 0.77x 1.08x 1.13x 1.1x 0.86x 0.68x 0.5x
EV / EBITDA - 10.4x 9.62x 9.9x 9.63x 10.7x 6.71x 4.66x
EV / EBIT - 16.2x 12.5x 12.9x 12.9x 12.5x 7.84x 5.34x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - - - 0.1975 0.31 0.38 0.48
Rate of return - - - - 2.63% 4.12% 5.05% 6.38%
EPS 2 - - - - 0.7226 0.84 1.04 1.31
Distribution rate - - - - 27.3% 36.9% 36.5% 36.6%
Net sales 1 - 12,455 11,534 11,904 10,823 12,330 13,774 16,134
EBITDA 1 - 920.5 1,292 1,360 1,231 997.4 1,397 1,718
EBIT 1 - 588 996.3 1,046 918.2 853.7 1,196 1,500
Net income 1 438.2 681.1 997 922 812 926 1,158 1,423
Net Debt 1 - - - - -1,461 -2,374 -3,628 -5,002
Reference price 2 3.218 3.264 4.502 6.747 7.513 7.518 7.518 7.518
Nbr of stocks (in thousands) 1,123,645 1,123,645 1,123,645 1,123,645 1,123,645 1,123,645 - -
Announcement Date 29/03/22 21/03/23 27/03/24 27/03/25 26/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.95x0.86x10.66x4.12% 1.93B
34.1x5.35x30.4x1.11% 167B
22.25x - - 1.59% 9.44B
18.61x0.95x8.88x3.2% 3.87B
24.32x2.48x20.61x1.55% 3.65B
22.38x - - 1.26% 1.2B
10.16x - - 2.73% 1.05B
47.28x0.75x6.13x0.95% 859M
Average 23.51x 2.08x 15.34x 2.06% 23.58B
Weighted average by Cap. 32.60x 5.12x 29.40x 1.22%

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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