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Aecc Aviation PowerLtd

XSSC:600893
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
600893
XSSC
CN¥52B
Market Cap
  1. Home
  2. CN
  3. Capital Goods
Company description

AECC Aviation Power Co., Ltd develops, produces, and sells large and medium-sized military and civil aviation engines in the People’s Republic of China. The last earnings update was 163 days ago. More info.


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600893 Share Price and Events
7 Day Returns
8.4%
XSSC:600893
9.3%
CN Aerospace & Defense
4.3%
CN Market
1 Year Returns
-11.9%
XSSC:600893
-6.1%
CN Aerospace & Defense
-7%
CN Market
600893 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aecc Aviation PowerLtd (600893) 8.4% -4% 2.5% -11.9% -37.5% -46.4%
CN Aerospace & Defense 9.3% -1.5% 0.3% -6.1% -28.6% -26.2%
CN Market 4.3% -4.8% -5.1% -7% -13.6% -24.6%
1 Year Return vs Industry and Market
  • 600893 underperformed the Aerospace & Defense industry which returned -6.1% over the past year.
  • 600893 underperformed the Market in China which returned -7% over the past year.
Price Volatility
600893
Industry
5yr Volatility vs Market

600893 Value

 Is Aecc Aviation PowerLtd undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Aecc Aviation PowerLtd to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Aecc Aviation PowerLtd.

XSSC:600893 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year CN Government Bond Rate 3.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for XSSC:600893
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.851 (1 + (1- 25%) (10.83%))
0.946
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (0.946 * 6.33%)
9.19%

Discounted Cash Flow Calculation for XSSC:600893 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aecc Aviation PowerLtd is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

XSSC:600893 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 9.19%)
2020 2,145.00 Analyst x1 1,964.47
2021 970.00 Analyst x1 813.59
2022 507.76 Est @ -47.65% 390.04
2023 343.26 Est @ -32.4% 241.49
2024 268.71 Est @ -21.72% 173.13
2025 230.44 Est @ -14.24% 135.98
2026 209.68 Est @ -9.01% 113.31
2027 198.47 Est @ -5.35% 98.23
2028 192.94 Est @ -2.78% 87.45
2029 191.04 Est @ -0.99% 79.30
Present value of next 10 years cash flows CN¥4,096.00
XSSC:600893 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥191.04 × (1 + 3.2%) ÷ (9.19% – 3.2%)
CN¥3,291.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥3,291.32 ÷ (1 + 9.19%)10
CN¥1,366.28
XSSC:600893 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥4,096.00 + CN¥1,366.28
CN¥5,462.28
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥5,462.28 / 2,249.84
CN¥2.43
XSSC:600893 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in XSSC:600893 represents 1.00301x of SHSE:600893
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00301x
Value per Share
(Listing Adjusted, CNY)
= Value per Share (CNY) x Listing Adjustment Factor
= CN¥ 2.43 x 1.00301
CN¥2.44
Value per share (CNY) From above. CN¥2.44
Current discount Discount to share price of CN¥23.32
= -1 x (CN¥23.32 - CN¥2.44) / CN¥2.44
-857.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Aecc Aviation PowerLtd is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Aecc Aviation PowerLtd's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aecc Aviation PowerLtd's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XSSC:600893 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥0.36
SHSE:600893 Share Price ** SHSE (2020-04-08) in CNY CN¥23.25
China Aerospace & Defense Industry PE Ratio Median Figure of 33 Publicly-Listed Aerospace & Defense Companies 52.52x
China Market PE Ratio Median Figure of 3,204 Publicly-Listed Companies 33.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Aecc Aviation PowerLtd.

XSSC:600893 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:600893 Share Price ÷ EPS (both in CNY)

= 23.25 ÷ 0.36

64.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aecc Aviation PowerLtd is overvalued based on earnings compared to the CN Aerospace & Defense industry average.
  • Aecc Aviation PowerLtd is overvalued based on earnings compared to the China market.
Price based on expected Growth
Does Aecc Aviation PowerLtd's expected growth come at a high price?
Raw Data
XSSC:600893 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 64.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
25%per year
China Aerospace & Defense Industry PEG Ratio Median Figure of 14 Publicly-Listed Aerospace & Defense Companies 2.48x
China Market PEG Ratio Median Figure of 1,266 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

XSSC:600893 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 64.78x ÷ 25%

2.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aecc Aviation PowerLtd is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Aecc Aviation PowerLtd's assets?
Raw Data
XSSC:600893 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥12.64
SHSE:600893 Share Price * SHSE (2020-04-08) in CNY CN¥23.25
China Aerospace & Defense Industry PB Ratio Median Figure of 36 Publicly-Listed Aerospace & Defense Companies 3.38x
China Market PB Ratio Median Figure of 3,693 Publicly-Listed Companies 2.35x
XSSC:600893 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:600893 Share Price ÷ Book Value per Share (both in CNY)

= 23.25 ÷ 12.64

1.84x

* Primary Listing of Aecc Aviation PowerLtd.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Aecc Aviation PowerLtd is good value based on assets compared to the CN Aerospace & Defense industry average.
X
Value checks
We assess Aecc Aviation PowerLtd's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Aecc Aviation PowerLtd has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

600893 Future Performance

 How is Aecc Aviation PowerLtd expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
25%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aecc Aviation PowerLtd expected to grow at an attractive rate?
  • Aecc Aviation PowerLtd's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • Aecc Aviation PowerLtd's earnings growth is expected to exceed the China market average.
  • Aecc Aviation PowerLtd's revenue growth is positive but not above the China market average.
Annual Growth Rates Comparison
Raw Data
XSSC:600893 Future Growth Rates Data Sources
Data Point Source Value (per year)
XSSC:600893 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 25%
XSSC:600893 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 9.7%
China Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 19.3%
China Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 12.2%
China Market Earnings Growth Rate Market Cap Weighted Average 20.7%
China Market Revenue Growth Rate Market Cap Weighted Average 15.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
XSSC:600893 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XSSC:600893 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 27,968 2,209 1,642 7
2020-12-31 25,756 2,370 1,382 7
2020-04-09
2019-12-31 23,291 2,176 1,056 6
XSSC:600893 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 22,048 -522 827
2019-06-30 23,613 1,016 1,027
2019-03-31 23,667 2,087 1,126
2018-12-31 23,102 1,210 1,064
2018-09-30 23,405 2,014 1,246
2018-06-30 23,013 1,615 1,161
2018-03-31 22,604 -227 992
2017-12-31 22,555 973 960
2017-09-30 22,616 433 955
2017-06-30 22,538 -81 964
2017-03-31 22,372 491 902
2016-12-31 22,217 -1,924 891

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aecc Aviation PowerLtd's earnings are expected to grow significantly at over 20% yearly.
  • Aecc Aviation PowerLtd's revenue is expected to grow by 9.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
XSSC:600893 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Aecc Aviation PowerLtd Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600893 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.73 1.06 0.51 7.00
2020-12-31 0.62 0.92 0.44 8.00
2020-04-09
2019-12-31 0.47 0.50 0.39 7.00
XSSC:600893 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 0.36
2019-06-30 0.45
2019-03-31 0.49
2018-12-31 0.47
2018-09-30 0.55
2018-06-30 0.53
2018-03-31 0.46
2017-12-31 0.47
2017-09-30 0.51
2017-06-30 0.52
2017-03-31 0.48
2016-12-31 0.46

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Aecc Aviation PowerLtd is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Aecc Aviation PowerLtd's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the China market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the China market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Aecc Aviation PowerLtd has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

600893 Past Performance

  How has Aecc Aviation PowerLtd performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Aecc Aviation PowerLtd's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Aecc Aviation PowerLtd's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Aecc Aviation PowerLtd's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Aecc Aviation PowerLtd's 1-year earnings growth is negative, it can't be compared to the CN Aerospace & Defense industry average.
Earnings and Revenue History
Aecc Aviation PowerLtd's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Aecc Aviation PowerLtd Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600893 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 22,047.91 826.68 2,085.01 395.93
2019-06-30 23,613.33 1,026.87 1,988.08 501.65
2019-03-31 23,667.11 1,125.52 1,931.90 463.99
2018-12-31 23,102.02 1,063.91 1,907.04 442.57
2018-09-30 23,405.07 1,245.56 1,957.84 447.54
2018-06-30 23,012.97 1,160.60 1,891.56 491.17
2018-03-31 22,604.06 992.49 1,961.08 445.88
2017-12-31 22,555.00 959.99 2,004.18 414.82
2017-09-30 22,615.99 955.36 2,127.74 165.34
2017-06-30 22,537.54 964.07 2,304.30
2017-03-31 22,371.83 902.07 2,287.96
2016-12-31 22,217.29 890.70 2,284.99
2016-09-30 22,175.02 817.87 2,310.80
2016-06-30 21,710.42 743.40 2,250.61
2016-03-31 22,064.54 973.03 2,211.15
2015-12-31 23,480.02 1,033.34 2,136.16
2015-09-30 24,755.32 986.91 2,166.80
2015-06-30 24,994.29 1,077.17 2,139.54
2015-03-31 26,882.99 998.50 2,121.47
2014-12-31 26,764.40 936.49 2,164.81
2014-09-30 27,427.44 1,036.18 2,072.61
2014-06-30 27,312.22 946.51 1,947.56
2014-03-31 28,489.62 666.12 2,253.60
2013-12-31 25,799.97 817.39 1,911.17
2013-09-30 16,582.24 346.62 1,393.79
2013-06-30 13,956.26 300.18 1,128.24

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Aecc Aviation PowerLtd has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Aecc Aviation PowerLtd used its assets less efficiently than the CN Aerospace & Defense industry average last year based on Return on Assets.
  • Aecc Aviation PowerLtd's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Aecc Aviation PowerLtd's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Aecc Aviation PowerLtd has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

600893 Health

 How is Aecc Aviation PowerLtd's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Aecc Aviation PowerLtd's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aecc Aviation PowerLtd is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aecc Aviation PowerLtd's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Aecc Aviation PowerLtd's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 6.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Aecc Aviation PowerLtd Company Filings, last reported 6 months ago.

XSSC:600893 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 36,042.69 5,665.34 2,046.54
2019-06-30 29,436.07 14,761.58 2,970.11
2019-03-31 30,531.56 6,294.02 3,861.25
2018-12-31 30,539.42 11,347.04 4,554.42
2018-09-30 29,969.53 9,465.21 4,042.07
2018-06-30 29,632.49 12,454.78 3,669.42
2018-03-31 29,808.49 7,646.23 4,589.95
2017-12-31 29,848.42 12,344.81 6,812.46
2017-09-30 29,207.62 20,872.63 13,461.05
2017-06-30 19,436.46 23,841.39 4,815.28
2017-03-31 19,279.33 17,134.15 4,639.83
2016-12-31 18,881.09 20,605.54 5,932.51
2016-09-30 18,263.01 24,663.36 4,818.95
2016-06-30 18,004.37 22,312.44 5,616.90
2016-03-31 18,101.63 16,776.48 5,638.53
2015-12-31 18,224.85 16,654.95 9,015.69
2015-09-30 17,378.65 23,062.45 5,537.02
2015-06-30 15,970.59 21,665.77 5,687.40
2015-03-31 15,637.29 17,790.83 5,247.85
2014-12-31 15,621.87 16,891.27 6,267.31
2014-09-30 15,109.02 16,665.84 4,693.10
2014-06-30 14,792.29 19,051.88 6,848.08
2014-03-31 4,652.06 2,411.46 1,063.29
2013-12-31 11,218.17 15,512.93 5,716.81
2013-09-30 4,459.32 2,491.29 738.74
2013-06-30 4,363.70 2,577.61 1,003.17
  • Aecc Aviation PowerLtd's level of debt (15.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (110% vs 15.7% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess Aecc Aviation PowerLtd's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Aecc Aviation PowerLtd has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

600893 Dividends

 What is Aecc Aviation PowerLtd's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.61%
Current annual income from Aecc Aviation PowerLtd dividends. Estimated to be 0.88% next year.
If you bought CN¥2,000 of Aecc Aviation PowerLtd shares you are expected to receive CN¥12 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Aecc Aviation PowerLtd's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.44%).
  • Aecc Aviation PowerLtd's dividend is below the markets top 25% of dividend payers in China (1.96%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
XSSC:600893 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
China Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 0.6%
China Market Average Dividend Yield Market Cap Weighted Average of 2584 Stocks 1.9%
China Minimum Threshold Dividend Yield 10th Percentile 0.2%
China Bottom 25% Dividend Yield 25th Percentile 0.4%
China Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

XSSC:600893 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.22 4.00
2020-12-31 0.19 4.00
2020-04-09
2019-12-31 0.14 3.00
XSSC:600893 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-05-23 0.142 0.642
2018-06-08 0.129 0.545
2017-04-21 0.138 0.498
2016-07-05 0.160 0.459
2015-07-08 0.145 0.356
2014-03-27 0.083 0.275
2013-06-18 0.081 0.438
2012-08-10 0.066 0.567
2012-03-27 0.066 0.481
2011-03-14 0.055 0.362
2010-03-26 0.040 0.266

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Aecc Aviation PowerLtd's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Aecc Aviation PowerLtd's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Aecc Aviation PowerLtd afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aecc Aviation PowerLtd has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

600893 Management

 What is the CEO of Aecc Aviation PowerLtd's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pang Wei
COMPENSATION CN¥82,800
AGE 57
TENURE AS CEO 3.5 years
CEO Bio

Mr. Pang Wei has been General Manager of AVIC Aviation Engine Corporation PLC since October 11, 2016. Mr. Wei serves as the President of Avic Engine Holdings Ltd. He served as Chairman, General Manager and Party Secretary of Liming Co., Ltd. from January 2009 to September 2010. He served as Chairman of AVIC Aviation Engine Corporation PLC until October 1, 2016 and previously served in the same role from July 13, 2012 to July 12, 2015.

CEO Compensation
  • Insufficient data for Pang to compare compensation growth.
  • Pang's remuneration is lower than average for companies of similar size in China.
Management Team

Yang Sen

TITLE
Chairman & Deputy GM
COMPENSATION
CN¥840K
AGE
53

Ya Shi Mu

TITLE
Chief Accountant
COMPENSATION
CN¥682K
AGE
51

Jian Peng

TITLE
Deputy General Manager
COMPENSATION
CN¥754K

Xin Mou

TITLE
Deputy General Manager
COMPENSATION
CN¥431K
AGE
47

Hong Lei Wang

TITLE
Deputy GM & Secretary of the Board

Li Xin Ren

TITLE
Deputy General Manager

Jiang Huang

TITLE
Deputy General Manager

Pang Wei

TITLE
General Manager
COMPENSATION
CN¥83K
AGE
57
TENURE
3.5 yrs

Yue Zhao

TITLE
Deputy General Manager
COMPENSATION
CN¥330K
AGE
54

Hai Ning Li

TITLE
Chief Engineer and Deputy General Manager
COMPENSATION
CN¥294K
Board of Directors

Yang Sen

TITLE
Chairman & Deputy GM
COMPENSATION
CN¥840K
AGE
53
TENURE
0.1 yrs

Xian Ni

TITLE
Chairman of the Supervisory Board
AGE
63

Rui Chen

TITLE
Director
COMPENSATION
CN¥83K
AGE
54

Yong Li

TITLE
Director
COMPENSATION
CN¥81K
AGE
59

Zi Zhang

TITLE
Director
COMPENSATION
CN¥79K
AGE
47

Gan Gao

TITLE
Director
AGE
52

Gong Qian Liang

TITLE
Independent Director
COMPENSATION
CN¥71K
AGE
60

Zhu Wang

TITLE
Independent Director
COMPENSATION
CN¥71K
AGE
54

Yun Yue

TITLE
Independent Director
COMPENSATION
CN¥71K
AGE
47

Hongwei Sun

TITLE
Director
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CN¥) Value (CN¥)
X
Management checks
We assess Aecc Aviation PowerLtd's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Aecc Aviation PowerLtd has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

600893 News

Simply Wall St News

600893 Company Info

Description

AECC Aviation Power Co., Ltd develops, produces, and sells large and medium-sized military and civil aviation engines in the People’s Republic of China. It also provides large-scale ship gas turbine power plant production and repair services. The company also offers non-aviation products, including solar power generation devices, industrial gas turbines, and energy saving and environmental protection devices. AECC Aviation Power Co., Ltd was formerly known as AVIC Aviation Engine Corporation PLC and changed its name to AECC Aviation Power Co., Ltd in March 2017. The company was founded in 1958 and is based in Xi'an, the People’s Republic of China.

Details
Name: Aecc Aviation Power Co.,Ltd
600893
Exchange: XSSC
Founded: 1958
CN¥52,308,883,462
2,249,844,450
Website: http://www.xaec.com
Address: Aecc Aviation Power Co.,Ltd
Fengcheng 10 Road,
Weiyang District,
Xi'an,
Shaanxi Province, 710021,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 600893 Domestic Shares Shanghai Stock Exchange CN CNY 21. Nov 2008
XSSC 600893 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 21. Nov 2008
Number of employees
Current staff
Staff numbers
37,046
Aecc Aviation PowerLtd employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 19:18
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/03/23
Last earnings filing: 2019/10/29
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.