Company Valuation: China Northern Rare Earth (Group) High-Tech Co.,Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 165,570 90,557 69,915 76,712 166,727 127,612 - -
Change - -45.31% -22.79% 9.72% 117.34% -23.46% - -
Enterprise Value (EV) 1 165,570 92,208 71,555 76,712 166,727 133,334 134,021 134,424
Change - -44.31% -22.4% 7.21% 117.34% -20.03% 0.52% 0.3%
P/E 32.3x 15.1x 29.5x 76.4x 74.1x 30.1x 24.3x 19.4x
PBR 10.8x 4.57x 3.23x 3.42x 6.76x 4.48x 3.84x 3.28x
PEG - 0.9x -0.5x -1.3x 1x 0.3x 1x 0.8x
Capitalization / Revenue 5.44x 2.43x 2.09x 2.33x 3.92x 2.4x 2.07x 1.84x
EV / Revenue 5.44x 2.47x 2.14x 2.33x 3.92x 2.5x 2.18x 1.93x
EV / EBITDA 23x 11.6x 19.4x 29.1x 37.4x 20.2x 16.8x 13.7x
EV / EBIT 24.7x 12.4x 23x 41.7x 48.8x 21.2x 16.5x 13.9x
EV / FCF 47.2x - - -116x - -171x 219x 122x
FCF Yield 2.12% - - -0.86% - -0.58% 0.46% 0.82%
Dividend per Share 2 0.445 0.17 0.07 0.035 0.13 0.2254 0.2919 0.3641
Rate of return 0.97% 0.68% 0.36% 0.16% 0.28% 0.64% 0.83% 1.03%
EPS 2 1.419 1.655 0.6558 0.2778 0.6227 1.172 1.453 1.822
Distribution rate 31.4% 10.3% 10.7% 12.6% 20.9% 19.2% 20.1% 20%
Net sales 1 30,408 37,260 33,497 32,966 42,563 53,281 61,500 69,498
EBITDA 1 7,208 7,937 3,697 2,641 4,458 6,606 7,971 9,836
EBIT 1 6,707 7,452 3,114 1,840 3,417 6,283 8,112 9,694
Net income 1 5,130 5,984 2,371 1,004 2,251 4,230 5,416 6,589
Net Debt 1 - 1,650 1,640 - - 5,722 6,409 6,812
Reference price 2 45.80 25.05 19.34 21.22 46.12 35.30 35.30 35.30
Nbr of stocks (in thousands) 3,615,066 3,615,066 3,615,066 3,615,066 3,615,066 3,615,066 - -
Announcement Date 14/4/22 21/4/23 18/4/24 8/4/25 14/4/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.4x2.16x5.62x6.95% 20.42B
30.21x2.51x20.24x0.64% 19.08B
23.74x7.62x14.26x0.12% 11.52B
6.06x1.14x4.83x10.3% 10.69B
24.17x7.68x14.27x0.6% 9.58B
22.02x - - 0.33% 8.9B
-165.23x17.09x55.35x-.--% 8.09B
4.91x0.85x2.54x8.45% 7.13B
8.1x1.72x5.58x4.47% 6.24B
Average -4.07x 5.10x 15.34x 3.54% 11.29B
Weighted average by Cap. 2.78x 4.53x 14.60x 3.57%

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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