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Midea Group Co Ltd Class A 000333

Morningstar Rating
¥63.60 −0.30 (0.47%)
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Company Report

Midea Is Well-Positioned to Benefit From Operating Leverage and Margin Upticks in the Long Run

Midea is one of the largest household appliance manufacturers in China, with key products being air conditioners, refrigerators, washing machines and small household appliances. It is consistently ranked as one of the top three players in China by retail sales in most home appliance product categories. We think the firm’s leadership position is underpinned by its reputable brand, extensive distribution network and strong focus in research and development.

Price vs Fair Value

000333 is trading at a 335% premium.
Price
¥63.60
Fair Value
¥91.00
Uncertainty
Medium
1-Star Price
¥734.80
5-Star Price
¥47.20
Economic Moat
Cvyjljc
Capital Allocation
Bbyzhzgkb

Bulls Say, Bears Say

Bulls

Upgrade and replacement demand will continue to support sales of home appliances; and Midea should benefit more than its peers, given its leading position in the industry.

Bears

China’s worsening real estate sector would further weigh on demand for domestic home appliances.

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News

Trading Information

Previous Close Price
¥63.90
Day Range
¥62.8963.78
52-Week Range
¥48.7572.99
Bid/Ask
¥63.60 / ¥63.61
Market Cap
¥443.94 Bil
Volume/Avg
21.8 Mil / 28.6 Mil

Key Statistics

Price/Earnings (Normalized)
12.23
Price/Sales
1.14
Dividend Yield (Trailing)
4.72%
Dividend Yield (Forward)
4.72%
Total Yield
4.72%

Company Profile

Midea Group Co., Ltd. is one of the largest household appliance manufacturers in China, with key products such as air conditioners, refrigerators, washing machines and small household appliances. It is consistently ranked as one of the top three players in China by retail sales in most home appliance categories. The firm also engages in industrial automation and robotics systems through wholly owned Kuka, a global market leader based in Germany. Heating, ventilation, and air conditioning, or HVAC, products generally contribute the most to Midea’s revenue, followed by other consumer appliances, and robotics and automation systems. In addition, Midea generates around 40% of sales outside China.
Sector
Consumer Cyclical
Industry
Furnishings, Fixtures & Appliances
Stock Style Box
Large Core
Total Number of Employees
198,613

Competitors

Valuation

Metric
000333
JCI
TT
Price/Earnings (Normalized)
12.2320.2234.48
Price/Book Value
2.572.9710.86
Price/Sales
1.141.764.17
Price/Cash Flow
6.9821.9428.65
Price/Earnings
000333
JCI
TT

Financial Strength

Metric
000333
JCI
TT
Quick Ratio
0.660.550.62
Current Ratio
1.150.871.13
Interest Coverage
13.544.7412.55
Quick Ratio
000333
JCI
TT

Profitability

Metric
000333
JCI
TT
Return on Assets (Normalized)
7.34%5.35%11.89%
Return on Equity (Normalized)
21.85%14.23%34.17%
Return on Invested Capital (Normalized)
12.74%9.47%21.14%
Return on Assets
000333
JCI
TT
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