Jiangsu Yanghe Distillery (002304.SZ)

Consumer · Shenzhen · China

CN¥40.47-3.83% today

Fundamentals

Market capCN¥58.22B

P/E ratio57.7

Dividend yield3.80%

Revenue growth (YoY)-26.0%

Profit margin6.2%

Return on equity2.0%

52-week rangeCN¥37.29 to CN¥75.50

Valuation and ratings

DCF fair valueCN¥32.69

Upside to fair value-19.2%

Analyst target (mean)CN¥52.21

Analyst rangeCN¥24.00 to CN¥89.50

Analysts covering13

Consensus viewbuy

Moat score53/100

Overall rating41/100, Reduce

Jiangsu Yanghe Distillery trades at CN¥40.47, which is 19% above the CN¥32.69 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.

Our moat model scores it 53 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.

It changes hands at 57.7 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.

About Jiangsu Yanghe Distillery

Jiangsu Yanghe Distillery Co., Ltd. engages in the production and sale of Chinese liquor. It offers liquor and wine, including dream blue, sujiu, sky blue, zhenbaofang, ocean blue, yanghe daqu, shuanggou daqu, guijiu, and sidus wine under the Yanghe, Shuang Gou, Noble Wine, and Pear Blossom Village brands. The company was formerly known as Jiangsu Yanghe Brewery Joint-Stock Co., Ltd. and changed its name to Jiangsu Yanghe Distillery Co., Ltd. in June 2024. Jiangsu Yanghe Distillery Co., Ltd. was founded in 2002 and is headquartered in Suqian, China.

Industry: Beverages - Wineries & DistilleriesEmployees: 22,392HQ: China

002304.SZ passes 5 of our 30 screens today

Each screen prints the exact criteria it used, and the circumstances in which it is wrong.

Dividend powerhouses

Yields above 3%, filtered for the one thing yield screens never check: whether the company can actually afford it.

Low volatility defensives

Companies that move less than the market and pay you to wait. The holdings that let you sleep, and let you hold everything else.

Consumer staples

The companies that sell what people buy regardless of the economy. Dull, and dull is the entire point.

China and Hong Kong

Enormous growth, and a structure in which you may not legally own the company you think you bought. Both are true at once.

Dividend aristocrats

Companies with long, unbroken records of raising their dividend. The record is the point: it is evidence, not a promise.

Common questions

Is Jiangsu Yanghe Distillery (002304.SZ) undervalued?

Against our discounted cash flow estimate of CN¥32.69, 002304.SZ at CN¥40.47 is 19% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.

What is 002304.SZ's P/E ratio?

002304.SZ trades at 57.7 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.

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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.