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 12,044 - -
Change - -17.49% 30.14% 8.32% -1.09% -9.53% - -
Enterprise Value (EV) 1 11,571 9,548 12,426 13,459 11,852 9,670 8,416 7,042
Change - -17.49% 30.14% 8.32% -11.94% -18.41% -12.97% -16.32%
P/E - - - - 10.4x 8.4x 6.79x 5.39x
PBR - - - - - - - -
PEG - - - - - 0.5x 0.3x 0.2x
Capitalization / Revenue - 0.77x 1.08x 1.13x 1.23x 0.98x 0.87x 0.75x
EV / Revenue - 0.77x 1.08x 1.13x 1.1x 0.78x 0.61x 0.44x
EV / EBITDA - 10.4x 9.62x 9.9x 9.63x 9.7x 6.02x 4.1x
EV / EBIT - 16.2x 12.5x 12.9x 12.9x 11.3x 7.03x 4.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - - - 0.1975 0.31 0.38 0.48
Rate of return - - - - 2.63% 4.39% 5.38% 6.8%
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 7.057 7.057 7.057
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.($)
8.58x0.81x10.01x4.3% 1.83B
32.55x5.16x29.39x1.16% 159B
21.64x - - 1.64% 9.18B
17.76x0.89x8.41x3.35% 3.68B
24.1x2.45x20.43x1.53% 3.58B
21.25x - - 1.32% 1.14B
10.63x - - 2.61% 1.08B
48.12x0.76x6.22x0.94% 867M
Average 23.08x 2.01x 14.89x 2.11% 22.53B
Weighted average by Cap. 31.15x 4.94x 28.41x 1.28%

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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