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SAIC Motor SHSE:600104 Stock Report

Last Price

CN¥16.38

Market Cap

CN¥188.5b

7D

1.4%

1Y

-12.5%

Updated

16 Aug, 2022

Data

Company Financials +
600104 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance1/6
Financial Health4/6
Dividends4/6

600104 Stock Overview

SAIC Motor Corporation Limited researches and develops, produces, and sells passenger and commercial vehicles in the People’s Republic of China and internationally.

SAIC Motor Competitors

Price History & Performance

Summary of all time highs, changes and price drops for SAIC Motor
Historical stock prices
Current Share PriceCN¥16.38
52 Week HighCN¥23.45
52 Week LowCN¥14.63
Beta0.52
1 Month Change1.55%
3 Month Change-0.61%
1 Year Change-12.45%
3 Year Change-32.48%
5 Year Change-45.16%
Change since IPO300.46%

Recent News & Updates

Shareholder Returns

600104CN AutoCN Market
7D1.4%0.8%1.3%
1Y-12.5%-4.1%-7.2%

Return vs Industry: 600104 underperformed the CN Auto industry which returned -7.4% over the past year.

Return vs Market: 600104 underperformed the CN Market which returned -9.7% over the past year.

Price Volatility

Is 600104's price volatile compared to industry and market?
600104 volatility
600104 Average Weekly Movement4.5%
Auto Industry Average Movement7.5%
Market Average Movement6.0%
10% most volatile stocks in CN Market9.2%
10% least volatile stocks in CN Market3.8%

Stable Share Price: 600104 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 600104's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a15,059Xiaoqiu Wanghttps://www.saicmotor.com

SAIC Motor Corporation Limited researches and develops, produces, and sells passenger and commercial vehicles in the People’s Republic of China and internationally. Its auto parts and components include power drive systems; chassis; interior and exterior trims; and components and smart product systems for new energy vehicles, such as batteries, electric drives, and electronic controls. The company also provides logistics and transportation services, mobility services, automobile life-support services, energy-saving and charging service, etc.; chargers, photovoltaic power generators, hazardous waste disposal services, and power battery recycling solutions; and engages in the auto finance, corporate finance, insurance sales, and investment businesses.

SAIC Motor Fundamentals Summary

How do SAIC Motor's earnings and revenue compare to its market cap?
600104 fundamental statistics
Market CapCN¥188.47b
Earnings (TTM)CN¥23.20b
Revenue (TTM)CN¥773.22b

8.1x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
600104 income statement (TTM)
RevenueCN¥773.22b
Cost of RevenueCN¥680.20b
Gross ProfitCN¥96.38b
Other ExpensesCN¥73.18b
EarningsCN¥23.20b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.02
Gross Margin12.46%
Net Profit Margin3.00%
Debt/Equity Ratio47.4%

How did 600104 perform over the long term?

See historical performance and comparison

Dividends

4.2%

Current Dividend Yield

34%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 600104 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600104?

Other financial metrics that can be useful for relative valuation.

600104 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.3x
Enterprise Value/EBITDA7x
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

How does 600104's PE Ratio compare to its peers?

600104 PE Ratio vs Peers
The above table shows the PE ratio for 600104 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average25.4x
200625 Chongqing Changan Automobile
5.9x4.1%HK$173.4b
000800 FAW Jiefang Group
15.5x12.7%CN¥39.8b
000927 China Railway Materials
17.4xn/aCN¥17.2b
600006 DongFeng Automobile
63xn/aCN¥13.7b
600104 SAIC Motor
8.1x12.7%CN¥188.5b

Price-To-Earnings vs Peers: 600104 is good value based on its Price-To-Earnings Ratio (8.1x) compared to the peer average (25.4x).


Price to Earnings Ratio vs Industry

How does 600104's PE Ratio compare vs other companies in the Asian Auto Industry?

Price-To-Earnings vs Industry: 600104 is good value based on its Price-To-Earnings Ratio (8.1x) compared to the CN Auto industry average (41.1x)


Price to Earnings Ratio vs Fair Ratio

What is 600104's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600104 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.1x
Fair PE Ratio22.5x

Price-To-Earnings vs Fair Ratio: 600104 is good value based on its Price-To-Earnings Ratio (8.1x) compared to the estimated Fair Price-To-Earnings Ratio (22.5x).


Share Price vs Fair Value

What is the Fair Price of 600104 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600104 (CN¥16.38) is trading below our estimate of fair value (CN¥18.43)

Significantly Below Fair Value: 600104 is trading below fair value, but not by a significant amount.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is SAIC Motor forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


12.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 600104's forecast earnings growth (12.7% per year) is above the savings rate (3.2%).

Earnings vs Market: 600104's earnings (12.7% per year) are forecast to grow slower than the CN market (24.6% per year).

High Growth Earnings: 600104's earnings are forecast to grow, but not significantly.

Revenue vs Market: 600104's revenue (8% per year) is forecast to grow slower than the CN market (17.8% per year).

High Growth Revenue: 600104's revenue (8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 600104's Return on Equity is forecast to be low in 3 years time (9.9%).


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Past Performance

How has SAIC Motor performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-10.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 600104 has high quality earnings.

Growing Profit Margin: 600104's current net profit margins (3%) are lower than last year (3.2%).


Past Earnings Growth Analysis

Earnings Trend: 600104's earnings have declined by 10.8% per year over the past 5 years.

Accelerating Growth: 600104's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 600104 had negative earnings growth (-11.3%) over the past year, making it difficult to compare to the Auto industry average (-5%).


Return on Equity

High ROE: 600104's Return on Equity (9.5%) is considered low.


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Financial Health

How is SAIC Motor's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 600104's short term assets (CN¥552.0B) exceed its short term liabilities (CN¥466.2B).

Long Term Liabilities: 600104's short term assets (CN¥552.0B) exceed its long term liabilities (CN¥116.0B).


Debt to Equity History and Analysis

Debt Level: 600104 has more cash than its total debt.

Reducing Debt: 600104's debt to equity ratio has increased from 25.7% to 47.4% over the past 5 years.

Debt Coverage: 600104's debt is not well covered by operating cash flow (6.6%).

Interest Coverage: 600104 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is SAIC Motor current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.16%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 600104's dividend (4.16%) is higher than the bottom 25% of dividend payers in the CN market (0.45%).

High Dividend: 600104's dividend (4.16%) is in the top 25% of dividend payers in the CN market (1.88%)


Stability and Growth of Payments

Stable Dividend: 600104's dividend payments have been volatile in the past 10 years.

Growing Dividend: 600104's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (34%), 600104's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 600104 is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Xiaoqiu Wang (58 yo)

3.58yrs

Tenure

CN¥2,951,800

Compensation

Mr. Xiaoqiu Wang serves as General Manager of passenger vehicle branch and Vice President at Shanghai Automotive Industry Corporation (Group) Corp. He served as a Vice Chairman of the Board at HUAYU Automo...


Leadership Team

Experienced Management: 600104's management team is considered experienced (3.6 years average tenure).


Board Members

Experienced Board: 600104's board of directors are considered experienced (4.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

SAIC Motor Corporation Limited's employee growth, exchange listings and data sources


Key Information

  • Name: SAIC Motor Corporation Limited
  • Ticker: 600104
  • Exchange: SHSE
  • Founded: NaN
  • Industry: Automobile Manufacturers
  • Sector: Automobiles
  • Implied Market Cap: CN¥188.466b
  • Shares outstanding: 11.51b
  • Website: https://www.saicmotor.com

Number of Employees


Location

  • SAIC Motor Corporation Limited
  • No. 489 Weihai Road
  • Jing'an District
  • Shanghai
  • 200041
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/16 00:00
End of Day Share Price2022/08/16 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.