First Tractor Future Growth

Future criteria checks 4/6

First Tractor is forecast to grow earnings and revenue by 24.8% and 12.2% per annum respectively.

Key information

24.8%

Earnings growth rate

n/a

EPS growth rate

Machinery earnings growth	16.4%
Revenue growth rate	12.2%
Future return on equity	n/a
Analyst coverage	Low
Last updated	30 Oct 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

SZSC:38 - Analysts future estimates and past financials data (CNY Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	15,818	1,700	N/A	2,216	1
12/31/2025	14,098	1,438	N/A	1,839	1
12/31/2024	12,565	1,036	N/A	1,430	1
9/30/2024	12,018	1,013	1,186	1,300	N/A
6/30/2024	12,092	1,148	892	1,017	N/A
3/31/2024	11,995	1,111	1,040	1,149	N/A
12/31/2023	11,534	997	967	1,056	N/A
9/30/2023	12,495	970	1,289	1,372	N/A
6/30/2023	13,182	854	1,197	1,281	N/A
3/31/2023	12,510	686	3,634	3,711	N/A
12/31/2022	12,564	681	3,508	3,602	N/A
9/30/2022	11,424	565	2,750	2,850	N/A
6/30/2022	10,332	508	3,100	3,184	N/A
3/31/2022	10,334	531	379	434	N/A
12/31/2021	9,334	438	514	582	N/A
9/30/2021	9,350	472	1,880	1,941	N/A
6/30/2021	9,098	468	1,402	1,470	N/A
3/30/2021	8,734	470	1,398	1,519	N/A
12/31/2020	7,582	280	1,168	1,249	N/A
9/30/2020	7,097	469	765	979	N/A
6/30/2020	6,521	365	115	345	N/A
3/31/2020	5,786	215	-162	57	N/A
12/31/2019	5,830	61	82	331	N/A
9/30/2019	5,932	-833	-52	126	N/A
6/30/2019	5,526	-1,136	334	537	N/A
3/31/2019	5,464	-1,303	222	440	N/A
12/31/2018	5,682	-1,300	-653	-384	N/A
9/30/2018	6,171	-414	-507	-302	N/A
6/30/2018	6,675	-121	N/A	-89	N/A
3/31/2018	7,027	40	N/A	-868	N/A
12/31/2017	7,358	57	N/A	-556	N/A
9/30/2017	7,520	51	N/A	187	N/A
6/30/2017	7,975	104	N/A	657	N/A
3/31/2017	8,484	201	N/A	1,525	N/A
12/31/2016	8,869	230	N/A	2,093	N/A
9/30/2016	8,774	174	N/A	1,451	N/A
6/30/2016	9,106	145	N/A	869	N/A
3/31/2016	9,663	137	N/A	1,291	N/A
12/31/2015	9,655	135	N/A	638	N/A
9/30/2015	9,505	249	N/A	971	N/A
6/30/2015	9,262	204	N/A	697	N/A
3/31/2015	8,990	159	N/A	52	N/A
12/31/2014	9,027	168	N/A	75	N/A
9/30/2014	9,687	106	N/A	-283	N/A
6/30/2014	9,897	153	N/A	284	N/A
3/31/2014	11,053	218	N/A	-219	N/A
12/31/2013	11,058	227	N/A	-142	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 38's forecast earnings growth (24.8% per year) is above the savings rate (2.3%).

Earnings vs Market: 38's earnings (24.8% per year) are forecast to grow faster than the Hong Kong market (11.5% per year).

High Growth Earnings: 38's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 38's revenue (12.2% per year) is forecast to grow faster than the Hong Kong market (7.8% per year).

High Growth Revenue: 38's revenue (12.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if 38's Return on Equity is forecast to be high in 3 years time

First Tractor Future Growth

Future criteria checks 4/6

Key information

Recent future growth updates

First Tractor Company Limited Provides Earnings Guidance for the Year Ended 31 December 2023

First Tractor Company Limited Provides Earnings Outlook for the Year 2021

Recent updates

Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.29 in 3Q 2023)

Now 22% undervalued

Investor sentiment improves as stock rises 16%

First Tractor Company Limited to Report Q3, 2024 Results on Oct 30, 2024

Second quarter 2024 earnings released: EPS: CN¥0.27 (vs CN¥0.24 in 2Q 2023)

Now 20% overvalued

First Tractor Company Limited Approves Board Appointments

First Tractor Company Limited to Report First Half, 2024 Results on Aug 29, 2024

First Tractor Company Limited Approves Final Ordinary for the Financial Year End 31 December 2023, Payable on July 5, 2024

Upcoming dividend of CN¥0.32 per share

First quarter 2024 earnings released

Dividend of CN¥0.32 announced

First Tractor Company Limited, Annual General Meeting, May 29, 2024

Investor sentiment improves as stock rises 16%

First Tractor Company Limited to Report Q1, 2024 Results on Apr 26, 2024

First Tractor Company Limited Proposes Final Dividend for the Financial Year End 31 December 2023, Payable on 31 July 2024

Full year 2023 earnings released: EPS: CN¥0.89 (vs CN¥0.61 in FY 2022)

Investor sentiment improves as stock rises 18%

Investor sentiment improves as stock rises 16%

First Tractor Company Limited Provides Earnings Guidance for the Year Ended 31 December 2023

Investor sentiment deteriorates as stock falls 15%

First Tractor Company Limited to Report Fiscal Year 2023 Results on Mar 28, 2024

Third quarter 2023 earnings released: EPS: CN¥0.29 (vs CN¥0.29 in 3Q 2022)

First Tractor Company Limited Announces Changes of directorate

First Tractor Company Limited to Report Q3, 2023 Results on Oct 28, 2023

Second quarter 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.09 in 2Q 2022)

First Tractor Company Limited to Report First Half, 2023 Results on Aug 29, 2023

First Tractor Company Limited Approves Dividend for the Financial Year Ended 31 December 2022, Payable on 06 July 2023

Upcoming dividend of CN¥0.23 per share at 6.5% yield

Full year 2022 earnings released: EPS: CN¥0.61 (vs CN¥0.39 in FY 2021)

High number of new and inexperienced directors

Third quarter 2022 earnings released

First Tractor Company Limited Announces Resignation of Mr. Ma Zhihui as A Non-Executive Director and A Member of the Remuneration Committee of the Board of Directors

First Tractor Company Limited to Report Q3, 2022 Results on Oct 27, 2022

Second quarter 2022 earnings released: EPS: CN¥0.09 (vs CN¥0.11 in 2Q 2021)

First Tractor Company Limited to Report First Half, 2022 Results on Aug 25, 2022

First Tractor Company Limited Announces Resignation of Su Ye as Financial Controller

High number of new and inexperienced directors

First Tractor Company Limited Declares Final Dividend for the Year Ended 31 December 2021, Payable on June 29, 2022

Upcoming dividend of CN¥0.12 per share

High number of new and inexperienced directors

First quarter 2022 earnings released: EPS: CN¥0.43 (vs CN¥0.36 in 1Q 2021)

First Tractor Company Limited to Report Q1, 2022 Results on Apr 27, 2022

First Tractor Company Limited Announces Board Changes

First Tractor Company Limited, Annual General Meeting, May 13, 2022

Full year 2021 earnings released: EPS: CN¥0.39 (vs CN¥0.28 in FY 2020)

First Tractor Company Limited Announces Final Dividend for the Year Ended 31 December 2021, Payable on July 31, 2022

Investor sentiment improved over the past week

First Tractor Company Limited Announces Management Retirement

First Tractor Company Limited Provides Earnings Outlook for the Year 2021

Third quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.16 in 3Q 2020)

Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.13 in 2Q 2020)

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Vice Chairman Jibo Cai has left the company

Upcoming dividend of HK$0.089 per share

First Tractor Company Limited Proposes Dividend for the Year Ended December 31, 2020

Investor sentiment improved over the past week

First quarter 2021 earnings released

Investor sentiment improved over the past week

Full year 2020 earnings released: EPS CN¥0.28 (vs CN¥0.062 in FY 2019)

First Tractor Company Limited to Report Fiscal Year 2020 Results on Mar 30, 2021

New 90-day high: HK$4.78

Investor sentiment improved over the past week

Investor sentiment deteriorated over the past week

New 90-day high: HK$4.01

Investor sentiment improved over the past week

New 90-day high: HK$3.22

First Tractor Company Limited Announces Resignation of Zhang Hongsheng as Chairman of the Board of Supervisors and Supervisor

First Tractor Company Limited Announces Executive Changes

First Tractor Company Limited to Report Q3, 2020 Results on Oct 29, 2020

First Tractor Company Limited to Report First Half, 2020 Results on Aug 28, 2020

Earnings and Revenue Growth Forecasts