Company Valuation: Foshan NationStar Optoelectronics Co.,Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 6,308 6,667 5,140 5,857 8,424 5,232
Change - 5.69% -22.91% 13.96% 43.82% -37.89%
Enterprise Value (EV) 1 5,584 5,650 4,260 4,974 7,475 4,292
Change - 1.18% -24.59% 16.74% 50.3% -42.58%
P/E 62.4x 32.9x 42.4x 68.4x 164x -403x
PBR 1.76x 1.78x 1.37x 1.54x 2.2x 1.38x
PEG - 0x -1.1x -2.3x -4.1x 3x
Capitalization / Revenue 1.93x 1.75x 1.44x 1.65x 2.43x 1.59x
EV / Revenue 1.71x 1.48x 1.19x 1.4x 2.15x 1.31x
EV / EBITDA 15x 10.8x 10.3x 12.9x 23.9x 16.2x
EV / EBIT 110x 28.9x 92.7x 288x -251x -70.3x
EV / FCF -15.5x 10.8x 238x -58.8x 195x 107x
FCF Yield -6.46% 9.3% 0.42% -1.7% 0.51% 0.93%
Dividend per Share 2 0.06 0.05 0.06 0.06 0.05 -
Rate of return 0.59% 0.46% 0.72% 0.63% 0.37% -
EPS 2 0.1635 0.3275 0.1962 0.1385 0.0833 -0.021
Distribution rate 36.7% 15.3% 30.6% 43.3% 60% -
Net sales 1 3,263 3,806 3,580 3,542 3,473 3,281
EBITDA 1 373.3 522 411.7 385.5 313.4 264.5
EBIT 1 50.76 195.8 45.96 17.28 -29.83 -61.06
Net income 1 101.1 202.6 121.3 85.64 51.53 -12.99
Net Debt 1 -724.3 -1,017 -879.1 -883.3 -948.3 -940.1
Reference price 2 10.200 10.780 8.310 9.470 13.620 8.460
Nbr of stocks (in thousands) 618,477 618,477 618,477 618,477 618,477 618,477
Announcement Date 4/19/21 A 3/23/22 A 4/6/23 A 4/12/24 A 4/18/25 A 4/10/26 A
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 599M
22.06x12.49x18.92x0.35% 5,296B
22.54x11.07x15x1.11% 1,971B
37.67x15.88x23.33x0.75% 1,658B
13.44x8.18x9.88x0.05% 1,104B
4.96x3.16x3.82x0.21% 921B
95.36x17.25x65.54x-.--% 890B
-47.14x9.42x26.23x-.--% 572B
210.12x46.05x93.81x-.--% 283B
Average 44.88x 15.44x 32.07x 0.31% 1,411B
Weighted average by Cap. 28.40x 12.60x 22.27x 0.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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