Beijing Yanjing Brewery Co Ltd

Beijing Yanjing Brewery maintains a conservative capital structure with a debt-to-equity ratio of 0.04, indicating minimal leverage relative to shareholder equity. The company holds total equity of 15.48 billion CNY against total liabilities of 8.27 billion CNY, resulting in a current ratio of 1.62, which suggests adequate short-term liquidity coverage. However, the risk assessment flags medium liquidity risk and notes that net cash is negative after subtracting total debt, despite holding 334.57 million CNY in cash and equivalents. Long-term debt stands at 575.02 million CNY, a modest figure relative to the balance sheet size.

Profitability metrics show a return on equity (ROE) of 7.22% and a return on assets (ROA) of 4.71%, reflecting moderate efficiency in generating profits from its asset base. The company reported net income of 1.68 billion CNY on revenue of 15.33 billion CNY, yielding a net margin of approximately 10.95%. Operating income was 2.36 billion CNY, while gross profit stood at 5.71 billion CNY, indicating a gross margin of roughly 37.21%. These returns are supported by strong operating cash flow of 2.72 billion CNY, which exceeds net income, suggesting high earnings quality.

Revenue concentration and segment details are not explicitly provided in the available data, preventing a detailed analysis of product mix or geographic exposure. The company operates primarily in the Chinese market as a domestic brewer, but specific regional breakdowns are absent from the current snapshot. Without segment data, the analysis relies on aggregate financial performance to infer business stability.

Growth trajectory analysis is limited by the absence of historical period data in the input, preventing a year-over-year or quarter-over-quarter trend assessment. The current valuation multiples include a price-to-earnings (P/E) ratio of 27.47 and an EV/EBITDA of 17.99, suggesting the market prices in moderate growth expectations or premium brand positioning. The price-to-book ratio of 1.98 indicates investors are willing to pay nearly double the book value for the company's equity.

Risk factors include medium liquidity risk and a key flag noting negative net cash after debt subtraction, which may constrain financial flexibility despite low leverage. Dilution risk is assessed as low, with basic and diluted shares outstanding being identical at 2.82 billion shares, indicating no significant options or convertible securities currently impacting share count. The company’s free cash flow of 562.92 million CNY is positive but significantly lower than operating cash flow due to capital expenditures of 1.27 billion CNY, highlighting ongoing investment needs.

Recent analyst sentiment is positive, with a mean recommendation of 1.79 (where 1 is strong buy) and a mean price target of 15.31 CNY, implying upside potential from the current market price of 10.90 CNY. The median price target is higher at 16.70 CNY, with a high target of 17.75 CNY and a low target of 10.90 CNY, reflecting broad analyst confidence. There are 6 strong buy and 6 buy ratings, with only 1 hold rating, indicating strong institutional support.

Net income surged 59.1% year-over-year to CNY 1.68 billion in FY2026, demonstrating strong profitability growth.

Analysts project 24.8% upside to a mean price target of CNY 15.31, reflecting positive market sentiment.

The company maintains a conservative debt-to-equity ratio of 0.04, well below the cohort median of 0.40.

Revenue grew at a 6.4% CAGR over four years, indicating consistent top-line expansion through FY2026.

Long-term debt increased to CNY 575 million in FY2026, up from CNY 41 million in FY2022.

The company faces a medium level of liquidity risk according to internal risk flag assessments.

Revenue ¥15.33B, +4,5% YoY; Operating income +50,5% YoY.

• ▍Revenue ¥15.33B, +4,5% YoY
• ▍Operating income +50,5% YoY
• ▍Net income +59,1% YoY
• ▍Free cash flow −22,3% YoY
• ▍Net margin 11.0%

Revenue ¥14.67B, +3,2% YoY; Operating income +53,4% YoY.

• ▍Revenue ¥14.67B, +3,2% YoY
• ▍Operating income +53,4% YoY
• ▍Net income +63,7% YoY
• ▍Free cash flow −6,6% YoY
• ▍Net margin 7.2%

Revenue ¥14.21B, +7,7% YoY; Operating income +47,8% YoY.

• ▍Revenue ¥14.21B, +7,7% YoY
• ▍Operating income +47,8% YoY
• ▍Net income +83,0% YoY
• ▍Free cash flow +19,8% YoY
• ▍Net margin 4.5%

Revenue ¥13.20B, +10,4% YoY; Operating income +60,2% YoY.

• ▍Revenue ¥13.20B, +10,4% YoY
• ▍Operating income +60,2% YoY
• ▍Net income +54,5% YoY
• ▍Free cash flow +7,7% YoY
• ▍Net margin 2.7%

Revenue ¥11.96B; Operating income ¥431.3M.

• ▍Revenue ¥11.96B
• ▍Operating income ¥431.3M
• ▍Net margin 1.9%