Company Valuation: CStone Pharmaceuticals

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,845 4,882 2,628 2,759 6,980 6,375 - -
Change - -37.77% -46.18% 4.99% 153.01% -8.67% - -
Enterprise Value (EV) 1 7,249 4,551 1,950 2,404 6,404 5,847 2,772 2,198
Change - -37.22% -57.15% 23.28% 166.37% -8.7% -52.59% -20.69%
P/E - -5.32x -7.11x -30.9x -15.3x -299x 5.95x 36.3x
PBR 6.63x 10.9x 5.7x - 10.7x - - -
PEG - - 0.1x 0.4x -0x 3.1x -0x -0.4x
Capitalization / Revenue 32.2x 10.1x 5.67x 6.78x 25.9x 13.3x 3.72x 5.78x
EV / Revenue 29.7x 9.45x 4.2x 5.9x 23.8x 12.2x 1.62x 1.99x
EV / EBITDA -3.99x -5.1x -3.33x -25.9x -16.5x -14.3x 1.41x 3.03x
EV / EBIT -3.96x -4.99x -3.22x -22.7x -14.8x -15.3x 2.48x 12.4x
EV / FCF -4.57x -7.43x - - -19.5x 2,923x 37.5x 31.4x
FCF Yield -21.9% -13.5% - - -5.12% 0.03% 2.67% 3.18%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 - -0.77 -0.29 -0.07 -0.31 -0.0133 0.67 0.11
Distribution rate - - - - - - - -
Net sales 1 243.7 481.4 463.8 407.2 269.6 479.3 1,713 1,103
EBITDA 1 -1,818 -892.9 -585.4 -92.72 -388.6 -409.6 1,962 724.4
EBIT 1 -1,829 -912.1 -605.6 -106.1 -432.6 -383.2 1,118 177.6
Net income 1 -1,920 -902.7 -367.2 -91.21 -437 -243.2 687.4 93.49
Net Debt 1 -596.2 -331.1 -677.7 -354.7 -576.3 -528.2 -3,603 -4,177
Reference price 2 6.737 4.096 2.061 2.161 4.736 3.989 3.989 3.989
Nbr of stocks (in thousands) 1,164,452 1,192,099 1,275,317 1,276,503 1,473,942 1,598,209 - -
Announcement Date 6/8/22 A 4/26/23 A 4/23/24 A 3/27/25 A 3/26/26 A - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.35x3.71x9.57x0.59% 66.74B
26.36x5.45x16.03x0.6% 53.32B
37.26x12.6x24.05x-.--% 48.12B
-42.39x3.06x9.03x3.57% 38.25B
25.06x3.49x11.87x-.--% 29.85B
56.96x3.39x25.31x-.--% 23.51B
-6.24x8.61x-5.3x-.--% 21.45B
64.96x6.38x43.91x-.--% 19.97B
24.05x5.15x13.48x-.--% 16.38B
Average 22.60x 5.76x 16.44x 0.53% 35.29B
Weighted average by Cap. 20.08x 5.80x 15.52x 0.65%

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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  5. Valuation CStone Pharmaceuticals