Fuyao Glass Industry Group (SHSE:600660) - Share price, News & Analysis

600660 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	2/6
Past Performance	3/6
Financial Health	5/6
Dividends	5/6

600660 Stock Overview

Fuyao Glass Industry Group Co., Ltd., together with its subsidiaries, provides solutions of safety glass and automotive accessories for various transportation vehicles in China and internationally.

Rewards

Trading at 12.9% below our estimate of its fair value

Earnings are forecast to grow 21.85% per year

Earnings grew by 5.5% over the past year

Risk Analysis

Unstable dividend track record

Fuyao Glass Industry Group Competitors

NYSE:MMM

US$85.0b

Sika

SWX:SIKA

CHF40.6b

Compagnie de Saint-Gobain

ENXTPA:SGO

€28.0b

Cardinal Health

NYSE:CAH

US$15.1b

Price History & Performance

Summary of all time highs, changes and price drops for Fuyao Glass Industry Group
Historical stock prices
Current Share Price	CN¥37.60
52 Week High	CN¥60.54
52 Week Low	CN¥30.23
Beta	0.97
1 Month Change	7.18%
3 Month Change	-18.47%
1 Year Change	-26.13%
3 Year Change	65.35%
5 Year Change	62.35%
Change since IPO	5,770.96%

Shareholder Returns

	600660	CN Auto Components	CN Market
7D	7.4%	7.8%	3.6%
1Y	-26.1%	-5.1%	-14.6%

Return vs Industry: 600660 underperformed the CN Auto Components industry which returned -5.1% over the past year.

Return vs Market: 600660 underperformed the CN Market which returned -14.6% over the past year.

Price Volatility

Is 600660's price volatile compared to industry and market?
600660 volatility
600660 Average Weekly Movement	6.9%
Auto Components Industry Average Movement	7.1%
Market Average Movement	7.3%
10% most volatile stocks in CN Market	10.2%
10% least volatile stocks in CN Market	5.3%

Stable Share Price: 600660 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 600660's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1987	26,532	Shu Ye	https://www.fuyaogroup.com

Fuyao Glass Industry Group Co., Ltd., together with its subsidiaries, provides solutions of safety glass and automotive accessories for various transportation vehicles in China and internationally. It designs, manufactures, sells, and services automotive grade float glass, automotive glass, locomotive glass, luggage racks, and vehicle window trims, as well as offers relevant services. The company provides head-up display, semi- tempered laminated, acoustic, heating, hydrophobic, dimming, antenna, heat insulation, lightweight, and ambient glasses.

Fuyao Glass Industry Group Fundamentals Summary

How do Fuyao Glass Industry Group's earnings and revenue compare to its market cap?
600660 fundamental statistics
Market Cap	CN¥93.23b
Earnings (TTM)	CN¥3.16b
Revenue (TTM)	CN¥24.44b

31.0x

P/E Ratio

4.0x

P/S Ratio

Is 600660 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
600660 income statement (TTM)
Revenue	CN¥24.44b
Cost of Revenue	CN¥15.82b
Gross Profit	CN¥8.63b
Other Expenses	CN¥5.46b
Earnings	CN¥3.16b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.21
Gross Margin	35.29%
Net Profit Margin	12.94%
Debt/Equity Ratio	43.9%

How did 600660 perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

82%

Payout Ratio

Does 600660 pay a reliable dividends?

See 600660 dividend history and benchmarks

When do you need to buy 600660 by to receive an upcoming dividend?
Fuyao Glass Industry Group dividend dates
Ex Dividend Date	May 19 2022
Dividend Pay Date	May 19 2022
Days until Ex dividend	2 days
Days until Dividend pay date	2 days

Does 600660 pay a reliable dividends?

See 600660 dividend history and benchmarks

Valuation

Is Fuyao Glass Industry Group undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

12.9%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 600660 (CN¥37.6) is trading below our estimate of fair value (CN¥43.15)

Significantly Below Fair Value: 600660 is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: 600660 is good value based on its PE Ratio (31x) compared to the CN Auto Components industry average (36.9x).

PE vs Market: 600660 is poor value based on its PE Ratio (31x) compared to the CN market (30.4x).

Price to Earnings Growth Ratio

PEG Ratio: 600660 is poor value based on its PEG Ratio (1.4x)

Price to Book Ratio

PB vs Industry: 600660 is overvalued based on its PB Ratio (3.6x) compared to the CN Auto Components industry average (2.1x).

Future Growth

How is Fuyao Glass Industry Group forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

21.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 600660's forecast earnings growth (21.9% per year) is above the savings rate (3.3%).

Earnings vs Market: 600660's earnings (21.9% per year) are forecast to grow slower than the CN market (23.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 600660's revenue (15.5% per year) is forecast to grow slower than the CN market (17.2% per year).

High Growth Revenue: 600660's revenue (15.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 600660's Return on Equity is forecast to be low in 3 years time (17.9%).

Past Performance

How has Fuyao Glass Industry Group performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-2.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 600660 has high quality earnings.

Growing Profit Margin: 600660's current net profit margins (12.9%) are lower than last year (14%).

Past Earnings Growth Analysis

Earnings Trend: 600660's earnings have declined by 2.9% per year over the past 5 years.

Accelerating Growth: 600660's earnings growth over the past year (5.5%) exceeds its 5-year average (-2.9% per year).

Earnings vs Industry: 600660 earnings growth over the past year (5.5%) exceeded the Auto Components industry -19%.

Return on Equity

High ROE: 600660's Return on Equity (11.6%) is considered low.

Financial Health

How is Fuyao Glass Industry Group's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 600660's short term assets (CN¥26.9B) exceed its short term liabilities (CN¥16.5B).

Long Term Liabilities: 600660's short term assets (CN¥26.9B) exceed its long term liabilities (CN¥3.2B).

Debt to Equity History and Analysis

Debt Level: 600660 has more cash than its total debt.

Reducing Debt: 600660's debt to equity ratio has increased from 39.2% to 43.9% over the past 5 years.

Debt Coverage: 600660's debt is well covered by operating cash flow (44.1%).

Interest Coverage: 600660's interest payments on its debt are well covered by EBIT (55.8x coverage).

Balance Sheet

Dividend

What is Fuyao Glass Industry Group current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.66%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: 600660's dividend (2.66%) is higher than the bottom 25% of dividend payers in the CN market (0.55%).

High Dividend: 600660's dividend (2.66%) is in the top 25% of dividend payers in the CN market (2.12%)

Stability and Growth of Payments

Stable Dividend: 600660's dividend payments have been volatile in the past 10 years.

Growing Dividend: 600660's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (81.9%), 600660's payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (89.4%), 600660's dividend payments are covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Automobiles industry.

Management

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

7.6yrs

Average management tenure

CEO

Shu Ye (49 yo)

5.17yrs

Tenure

CN¥2,274,000

Compensation

Mr. Shu Ye has been President of Fuyao Glass Industry Group Co., Ltd. since March 25, 2017 and serves as its Executive Director since October 30, 2019. He is General Manager of Fuyao Glass Industry Group C...

CEO Compensation Analysis

Compensation vs Market: Shu's total compensation ($USD335.00K) is about average for companies of similar size in the CN market ($USD346.20K).

Compensation vs Earnings: Shu's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: 600660's management team is seasoned and experienced (7.6 years average tenure).

Board Members

Experienced Board: 600660's board of directors are considered experienced (7.2 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.

Recent Insider Transactions

Ownership Breakdown

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

Data	Last Updated (UTC time)
Company Analysis	2022/05/16 00:00
End of Day Share Price	2022/05/16 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31