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Estun Automation Co Ltd Class A 002747

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Stock XSHE Rating as of
CNY 13.51 −0.19 (1.39%)
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As of Delayed Price Closed
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Company Report

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Estun Automation Earnings: Cut Fair Value Estimate on Disappointing Growth and Margins

Cheng Wang

As of December 2023, Estun Automation is the largest domestic industrial robot manufacturer and ranks second by shipment in China, a market that used to be dominated by foreign companies. As a late mover, Estun benefited from the exponential growth of emerging industries such as the photovoltaic and lithium-ion battery industries. It is one of the largest industrial robot suppliers to the photovoltaic industry, with a leading market share in photovoltaic typesetting. In addition, its robots have landed in the factories of top lithium-ion battery companies such as BYD and CATL. However, both industries are currently facing heavy overcapacity. This will weigh on Estun's shipment growth in the near term.

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Price vs Fair Value

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002747 is trading within a range we consider fairly valued.
Price
CNY 13.51
Fair Value
CNY 98.00
Uncertainty
Very High
1-Star Price
CNY 17.44
5-Star Price
CNY 2.20
Economic Moat
Vfmf
Capital Allocation
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Bulls Say, Bears Say

Bulls

Estun is set to seize more market share from foreign players as China continues with import substitution.

Bears

Estun's shipment will be under pressure as customers from solar and lithium-ion battery industries scale back capacity expansion.

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Trading Information

Previous Close Price
CNY 13.70
Day Range
CNY 13.30–13.66
52-Week Range
CNY 11.32–27.56
Bid/Ask
CNY 13.50 / CNY 13.51
Market Cap
CNY 11.75 Bil
Volume/Avg
11.7 Mil / 14.7 Mil

Key Statistics

Price/Earnings (Normalized)
136.84
Price/Sales
2.29
Dividend Yield (Trailing)
0.44%
Dividend Yield (Forward)
0.44%
Total Yield
0.44%

Company Profile

Estun is a leading industrial automation company and the largest domestic industrial robot manufacturer in China.Estun's industrial robots include six-axis general-purpose robots, four-axis palletizing robots, SCARA robots and industry-specific customized robots. Most of its shipments are six-axis general-purpose robots. The main application areas include welding, sheet metal bending, photovoltaic typesetting, among others.
Sector
Industrials
Industry
Specialty Industrial Machinery
Stock Style Box
Mid Growth
Total Number of Employees
3,851
Website
http://www.estun.com

Competitors

Valuation

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Metric
002747
6954
300124
Price/Earnings (Normalized)
 136.8431.9530.66
Price/Book Value
 4.362.505.35
Price/Sales
 2.295.414.21
Price/Cash Flow
 —26.4043.35
Price/Earnings
002747
6954
300124

Financial Strength

Metric
002747
6954
300124
Quick Ratio
 0.834.431.20
Current Ratio
 1.166.861.62
Interest Coverage
 2.07—29.49
Quick Ratio
002747
6954
300124

Profitability

Metric
002747
6954
300124
Return on Assets (Normalized)
 0.41%9.61%9.50%
Return on Equity (Normalized)
 1.46%10.99%18.56%
Return on Invested Capital (Normalized)
 1.76%10.61%15.22%
Return on Assets
002747
6954
300124
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