First Tractor Company Limited

0038.HK

0038.HKFirst Tractor Company Limited HK flag

Hong Kong Stock Exchange

7.12

HKD

+0.20

(+2.89%)

0.90EPS

7.91P/E

13.54BMarket Cap

Aug 26Next Earn

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ISIN

CNE100000320

Return %

Stock

S&P500

4.40

12.04

99.44

62.27

185.94

98.03

Use logarithmic scale

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	TTM
Revenue per Share	12.84	11.1	9.06	9.7	8.92	7.31	5.62	5.82	7.59	8.37	11.08	10.26	10.59	10.76
Basic EPS, GAAP	0.36	0.23	0.17	0.14	0.22	0.06	-1.32	0.06	0.28	0.39	0.61	0.89	0.82	1.02
Free Cash Flow per Basic Share	-0.06	-0.62	-0.58	0.23	1.88	-0.86	-0.66	0.08	1.18	0.47	3.12	0.86	0.98	-0.11
Dividend per Share	0.12	0.3	0.17	0.18	0.16	0.21	0.2	0.14	0.15	0.1	0.18	0.24	0.34	0.34
Book Value per Share	2.11	2.02	2.08	2.15	2.3	2.29	1.5	1.54	1.81	2.01	2.37	2.97	3.4	3.46
Tangible Book Value per Share	4.57	4.32	4.39	4.5	4.63	4.63	3.87	4.05	4.27	4.76	5.13	5.79	6.3	6.3
Basic Weighted Avg Shares	896	996	996	996	995	988	986	985	986	1,100	1,124	1,124	1,124	1,124
Sales/Revenue/Turnover	11,508	11,058	9,027	9,655	8,871	7,219	5,541	5,737	7,481	9,209	12,455	11,528	11,904	12,086
Operating Margin (%)	3.86	4.26	1.6	3.94	3.68	-1.64	-21.25	-2.27	5.26	5.75	6.51	6.87	7.02	8.69
Depreciation Expense	190	256	298	314	333	328	334	346	345	339	326	316	310	- -
Net Income, GAAP	325	227	168	135	223	57	-1,300	61	280	433	681	997	922	1,148
Effective Tax Rate (%)	15.41	21.3	22.5	37.27	19.35	32.73	- -	30.72	8.58	5.85	- -	1.4	11.49	9.41
Profit Margin (%)	2.82	2.05	1.86	1.4	2.52	0.78	-23.46	1.07	3.74	4.71	5.47	8.65	7.75	9.5
Working Capital	1,204	1,973	921	328	1,621	669	349	108	568	1,805	1,754	443	927	611
LT Debt	618	1,574	1,539	1,521	1,506	689	868	139	115	112	74	210	87	201
Total Equity	4,943	5,258	5,321	5,399	5,504	5,439	4,656	4,784	4,976	5,982	6,497	7,219	7,778	7,767
Return on Invested Capital (%)	6.85	5.63	1.46	2.89	3.14	-0.93	- -	-1.15	5.03	6.66	- -	8.8	7.48	11.19
Return on Capital (%)	8.38	5.48	4.53	3.22	4.86	2.79	- -	2	7.44	9.68	- -	17.7	13.65	21.45
Return on Common Equity (%)	18.01	11.63	8.21	6.42	10.1	2.49	-69.56	4.11	17	21.72	27.95	33.2	25.75	32.38

Capital Structure

•

in mil. unless spec.

Working Capital

•

in mil. unless spec.

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)	10 years	5 years	1 year
Sales/Revenue/Turnover	4.51%	16.91%	3.26%
Net Income, GAAP	-202.78%	101.28%	-7.52%
Free Cash Flow	210.43%	359.65%	14.16%
Total Cash Common Dividend	12.47%	27.1%	38.7%
Total Equity	4.23%	10.34%	7.74%

Growth Rates

•

in mil. unless spec.

Quarterly Revenue

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in mil. unless spec.

Quarterly Earnings Per Share

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in mil. unless spec.

Quarterly Dividends Per Share

•

in mil. unless spec.

Company Description

CEO: Bin Liu
Full Time Employees: 6,920
Sector: Industrials
Industry: Agricultural - Machinery
Address: No. 154 Jianshe Road Luoyang People's Republic of China 471004
IPO Date: Jun 23, 1997
Website: first-tractor.com.cn
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Business: First Tractor Company Limited engages in the research and development, manufacture, and sale of agricultural and power machinery, and related spare parts worldwide. The company operates through three divisions: Agricultural Machinery, Power Machinery, and Finance. It offers wheeled and crawler tractors, and its components, such as castings, forgings gears, gear boxes, and covers; and off-road diesel engines, as well as accessory parts, including fuel injection pumps and fuel injectors. The company also engages in the fund settlement; provision of financial services; and processing and sale of rough and semi-finished, and finished products of castings and forging products. In addition, it provides loans, finance lease, bill acceptance and discounting, entrusting loans, and investments to member companies, as well as equity and portfolio investment in financial institutions as approved; and consumer credit service, buyer's credit, and finance lease for products of member companies and inter-bank borrowing and lending. The company was formerly known as First Tractor Works of China. First Tractor Company Limited was founded in 1955 and is based in Luoyang, China.

	Dec'23	Mar'24	Jun'24
ST Debt	2,184	1,682	2,028
LT Borrowings	208	200	200
LT Finance Leases	2	2	1
Preferred Equity and Hybrid Capital	- -	- -	- -
Shares Outstanding	1,124	1,124	1,124
Market Capitalization	4,862	6,071	7,729

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	TTM
Revenue per Share	12.84	11.1	9.06	9.7	8.92	7.31	5.62	5.82	7.59	8.37	11.08	10.26	10.59	10.76
Basic EPS, GAAP	0.36	0.23	0.17	0.14	0.22	0.06	-1.32	0.06	0.28	0.39	0.61	0.89	0.82	1.02
Free Cash Flow per Basic Share	-0.06	-0.62	-0.58	0.23	1.88	-0.86	-0.66	0.08	1.18	0.47	3.12	0.86	0.98	-0.11
Dividend per Share	0.12	0.3	0.17	0.18	0.16	0.21	0.2	0.14	0.15	0.1	0.18	0.24	0.34	0.34
Book Value per Share	2.11	2.02	2.08	2.15	2.3	2.29	1.5	1.54	1.81	2.01	2.37	2.97	3.4	3.46
Tangible Book Value per Share	4.57	4.32	4.39	4.5	4.63	4.63	3.87	4.05	4.27	4.76	5.13	5.79	6.3	6.3
Basic Weighted Avg Shares	896	996	996	996	995	988	986	985	986	1,100	1,124	1,124	1,124	1,124
Sales/Revenue/Turnover	11,508	11,058	9,027	9,655	8,871	7,219	5,541	5,737	7,481	9,209	12,455	11,528	11,904	12,086
Operating Margin (%)	3.86	4.26	1.6	3.94	3.68	-1.64	-21.25	-2.27	5.26	5.75	6.51	6.87	7.02	8.69
Depreciation Expense	190	256	298	314	333	328	334	346	345	339	326	316	310	- -
Net Income, GAAP	325	227	168	135	223	57	-1,300	61	280	433	681	997	922	1,148
Effective Tax Rate (%)	15.41	21.3	22.5	37.27	19.35	32.73	- -	30.72	8.58	5.85	- -	1.4	11.49	9.41
Profit Margin (%)	2.82	2.05	1.86	1.4	2.52	0.78	-23.46	1.07	3.74	4.71	5.47	8.65	7.75	9.5
Working Capital	1,204	1,973	921	328	1,621	669	349	108	568	1,805	1,754	443	927	611
LT Debt	618	1,574	1,539	1,521	1,506	689	868	139	115	112	74	210	87	201
Total Equity	4,943	5,258	5,321	5,399	5,504	5,439	4,656	4,784	4,976	5,982	6,497	7,219	7,778	7,767
Return on Invested Capital (%)	6.85	5.63	1.46	2.89	3.14	-0.93	- -	-1.15	5.03	6.66	- -	8.8	7.48	11.19
Return on Capital (%)	8.38	5.48	4.53	3.22	4.86	2.79	- -	2	7.44	9.68	- -	17.7	13.65	21.45
Return on Common Equity (%)	18.01	11.63	8.21	6.42	10.1	2.49	-69.56	4.11	17	21.72	27.95	33.2	25.75	32.38

	Dec'23	Mar'24	Jun'24
Total Current Assets	6,488	7,775	7,105
Accounts Receivable, Net	331	1,690	1,460
Cash, Cash Equivalents & STI	3,849	3,527	3,458
Inventories	1,514	1,427	1,108
Total Current Liabilities	6,045	6,976	6,495
Payables & Accruals	- -	- -	- -
ST Debt	2,184	1,682	2,028
Deferred Revenue	- -	- -	- -

Year	Q1	Q2	Q3	Q4	FY
2022	4,249	2,382	3,690	2,135	12,455
2023	4,190	3,054	3,003	1,276	11,528
2024	4,656	3,151	- -	- -	11,904

Year	Q1	Q2	Q3	Q4	FY
2022	0.43	- -	- -	- -	0.61
2023	0.43	- -	- -	- -	0.89
2024	0.53	- -	- -	- -	0.82

First Tractor Company Limited

Growth Rates

(avg. rate of change)

Company Description

Growth Rates

(avg. rate of change)

Capital Structure

Working Capital

Quarterly Revenue

Year

Quarterly Dividends Per Share

Year

Quarterly Earnings Per Share

Year