Meituan (3690) 📈: отчетность и дивиденды за 2025

Reports

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023
Финансовый отчет	link	link	link	link	link	link

	2018Q2	2019Q2	2020Q2	2021Q2	2022Q2	2023Q2	2024Q2
Финансовый отчет	link	link	link	link	link	link	link

Capitalization

IFRS

Reporting Annual Quarterly

	2015	2016	2017	2018	2019	2020	2021	2022	2023	LTM	5 year average	CAGR 5
Капитализация, млрд ¥				243.08	403.52	1 089.76	1 684.47	1 072.65	800.02	810.85	1010.08	14.67
Выручка, млрд ¥	4.02	12.99	33.93	65.23	97.53	114.79	179.13	219.95	276.74	276.74	177.63	23.19
Чистая прибыль, млрд ¥	-10.52	-5.79	-18.92	-115.48	2.24	4.71	-23.54	-6.69	13.86	13.86	-1.8840	43.98
EV, млрд ¥				228.3	394.68	1 095.07	1 707.88	1 044.29	458.17	458.81	940.02	3.03
EBIT, млрд ¥	-8.55	-6.62	-4.96	-117.64	2.68	-0.5218	-21.99	-5.13			-28.5204	-46.55
EBITDA, млрд ¥	-8.37	-6.03	-4.12	-112.27	7.34	4.67	-11.68	4.6		4.56	-21.4680	-152.78
Баланс стоимость, млрд ¥	-17.67	-25.62	-40.56	86.5	92.11	97.69	125.61	128.76	152.01	152.01	119.24	10.54
FCF, млрд ¥	-4.36	-2.27	-1.06	-11.46	2.57	-7.35	-13.02	5.68	33.64	33.64	4.30	67.26
Операционный денежный поток, млрд ¥	-4	-1.92	-0.3102	-9.18	5.57	8.48	-4.01	11.41	40.52	40.52	12.39	48.72
Операционная прибыль, млрд ¥	-8.47	-6.26	-3.83	-11.09	2.68	-0.5218	-21.99	-5.13	10.03	10.03	-2.9864	30.21
Операционные расходы, млрд ¥	11.24	12.35	16.68	28.58	30.97	35.98	64.47	68.22	266.72	266.72	93.27	53.82
CAPEX, млрд ¥	0.3583	0.3556	0.7459	2.28	3	15.82	9.01	5.73	6.88	6.88	8.09	18.06

	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	5 quarters average	CAGR 5
Капитализация, млрд ¥			1 499.65	1 524.67	1 163.47	1 067.1	1 106.22	969.13	945.43	810.68	808.4	634.6	833.65	-8.12
Выручка, млрд ¥			48.83	49.52	46.27	50.94	62.62	60.13	58.62	67.96	76.47	73.7	67.38	4.15
Чистая прибыль, млрд ¥			-9.99	-5.34	-5.7	-1.12	1.22	-1.08	3.36	4.69	3.59	2.22	2.56	-215.50
EV, млрд ¥			1 505.37	1 548.08	1 187.27	1 104.13	1 041.15	1 003.85	973.17	757.95	706.98	458.17	780.02	-14.52
EBIT, млрд ¥		-3.25	-7.46	-5.7	-5.58	-0.4928	0.9882	-0.7316	3.59	4.71	3.36		2.38	27.73
EBITDA, млрд ¥		-3.74	-9.38	-5.69	-4.47	-1.08	2.07	-1.65	3.81	3.1	4.24		2.31	15.42
Баланс стоимость, млрд ¥			129.3	125.61	121.14	123.62	127.69	128.76	134.2	142.09	147.88	152.01	140.99	3.38
FCF, млрд ¥			-4.04	1.58	-11.28	9.23	9.39	1.56	8.05	8.92	11.21	5.46	7.04	28.47
Операционный денежный поток, млрд ¥			-4.04	1.58	-11.28	9.23	9.39	4.06	8.05	10.87	11.21	10.39	8.92	20.68
Операционная прибыль, млрд ¥			-10.1	-5.01	-5.58	-0.4928	0.9882	-0.7316	3.59	4.71	3.36	1.33	2.45	-212.70
Операционные расходы, млрд ¥			18.49	18.26	16.3	15.94	18.81	17.18	17.48	21.27	24.76	72.36	30.61	33.32
CAPEX, млрд ¥	3.36	3.36	5.65	5.65	3.22	3.22	1.94	2.51	1.94	1.94			2.31	-9.64

	5 quarters average	CAGR 5

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2015	2016	2017	2018	2019	2020	2021	2022	2023	LTM	5 year average	CAGR 5
Наличность, млрд ¥	16.8	9.38	19.41	17.04	13.4	17.09	32.51	20.16	33.34	33.34	23.30	20.00
Short Term Investments ¥	0.7844	12.61	25.86	41.83	49.44	44	84.28	91.87	111.82	111.82	76.28	17.73
Long term investments ¥	2.67	7.33	7.87	8.35							6.55	32.98
Total Receivables ¥	4	1.35	8.53	13.05	18.31	25.79	28.97	28.5	2.74	2.74	20.86	-31.61
Total Current Assets ¥	21.87	23.63	54.44	73.15	82.14	88.31	147.83	143.15	183.12	183.12	128.91	17.39
Чистые активы, млрд ¥	0.4465	0.5112	0.9157	3.98	5.38	13.92	22.81	22.2	16.72	22.94	16.21	25.46
Активы, млрд ¥	42.89	51.72	83.63	120.66	132.01	166.57	240.65	244.48	293.03	293.03	215.35	17.29
Short Term Debt ¥	0.7844	0.001	0.162	1.8	4.09	7.48	13.32	19.73	19.32	19.32	12.79	36.41
Long Term Debt ¥	49.87	62.41	101.42	0.4701	0.4667	14.92	42.6	38.36	35.22	35.22	26.31	137.44
Задолженность, млрд ¥	60.56	77.29	124.14	34.15	39.96	68.94	115.1	115.78	141.07	141.07	96.17	28.70
Чистый долг, млрд ¥	-16.8	-9.38	-19.25	-14.77	-7.85	6.96	26.41	37.93	21.2	21.2	16.93	-221.98
Долг, млрд ¥	50.66	62.41	101.58	2.27	4.55	22.41	55.92	58.09	54.54	57.67	39.10	64.34
Interest income ¥	0.7122	4.32	15.09	104.38	0.0973	0.6005	0.4393	0.8894	0.819		0.5691	53.12
Расходы на обслуживание долга ¥		0.193	0.3837	0.0246	0.1762	0.3455	1.08	1.58	1.42	1.42	0.9203	51.79
Чист. проц. доходы, млрд ¥		-0.0343	0.0587	0.4754	0.8516	0.2304	-0.4522	-0.9709	-0.6062	0.8976	-0.1895	-193.43
Goodwill ¥	13.78	14.95	14.87	27.71	27.71	27.65	27.73	27.77	27.77		27.73	0.04
Амортизация, млрд ¥	0.1814	0.5858	0.8443	5.37	4.66	5.19	10.31	9.73			7.05	12.62
Себестоимость, млрд ¥	1.24	7.05	21.71	50.12	65.21	80.74	136.65	158.2	179.55	179.55	124.07	22.45
Товарно материальные запасы ¥	0.0079	0.0366	0.0884	0.4002	0.2752	0.4665	0.6817	1.16	1.3	1.3	0.7767	36.41

	2018Q2	2018Q4	2019Q2	2019Q4	2020Q2	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	5 quarters average	CAGR 5
Наличность, млрд ¥									50.94	32.51	35.41	25.54	23.26	20.16	26.86	27	25.15	33.34	26.50	10.58
Short Term Investments ¥									69.96	84.28	68.04	82	88.26	91.87	84.54	93.19	108.47	111.82	97.98	4.01
Long term investments ¥	7.14	8.35	8.99																8.16	7.98
Total Receivables ¥									1.66	28.97	1.87	30.97	2.01	28.5	15.54	30.65	21.13	2.74	19.71	-37.40
Total Current Assets ¥									153.17	147.83	134.55	140.38	138.85	143.15	140.62	153.09	170.44	183.12	158.08	5.05
Чистые активы, млрд ¥							13.7	14.61	22.49	22.81	23.08	23.19	22.82	22.2	21.72	21.92			22.37	-1.12
Активы, млрд ¥									242.61	240.65	230.88	243.03	246.93	244.48	250.01	266.01	285.51	293.03	267.81	3.69
Short Term Debt ¥								12.99	15.21	13.32	13.52	12.91		19.73	19.72	20.69	24.07	19.32	20.71	-0.42
Long Term Debt ¥									41.45	42.6	45.68	49.66	44.59	35.16	34.89	38.29	35.39	35.22	35.79	0.03
Задолженность, млрд ¥									113.37	115.1	109.79	119.46	119.3	115.78	115.87	123.97	137.69	141.07	126.88	4.03
Чистый долг, млрд ¥									7.92	26.41	26.57	39.85	-23.26	37.93	30.81	31.98	37.73	21.2	31.93	-10.98
Долг, млрд ¥								51.17	56.66	55.92	59.2	62.57		54.88	54.6	58.98	62.87	54.54	57.17	-0.12
Interest income ¥									0.1022	0.3384	0.1735	0.6283	0.2204	0.3537	0.2188	0.0144	0.2012	0.2162	0.2009	-9.38
Расходы на обслуживание долга ¥									0.3699	0.3317	0.3303	0.3863	0.4747	0.3918	0.3535	0.354	0.351	0.3654	0.3631	-1.39
Чист. проц. доходы, млрд ¥									-0.1711	-0.0964	-0.22	-0.2282	-0.265	-0.2578	-0.1691	-0.1368	-0.1497	-0.1506	-0.1728	-10.19
Goodwill ¥			27.71	27.71	27.71	27.65		27.65		27.73		27.77		27.77		27.77		27.77	27.76	0.03
Амортизация, млрд ¥								-0.4876	-1.92	0.011	1.11	-0.59	1.09	-0.9203	0.226	-1.61	0.884		-0.0661	-4.10
Себестоимость, млрд ¥									38.05	37.54	35.53	35.36	44.11	43.2	38.8	42.57	49.48	48.7	44.55	2.43
Товарно материальные запасы ¥									0.6581	0.6817	0.7332	0.8857	1.02	1.16	1.03	1.23	1.36	1.3	1.22	2.31

Share

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	-3.44	-46.83	0.6	0.52	-2.62	-1.09	2.22			2.22	-0.0740	29.91
Цена акции ао		43.9	101.9	294.6	225.4	174.7	81.9	152.5	169.5	169.5	160.80	-5.54
Число акций ао, млн		4281.63	5808.4	5885.65	5885.65	6156.6	6244.38			6244.38	5996.14	1.46
FCF/акцию	-0.1923	-2.68	0.4429	-1.25	-2.21	0.9226	5.39			5.39	0.6591	64.84

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	5 quarters average	CAGR 5
EPS	-0.93	-0.65	-0.58	0.34	0.57	0.13	0.89	0.7511	0.5755	0.355	0.5403	22.25
Цена акции ао	244.56	259.05	188.21	172.54	178.75	157.41	151.48	129.89	129.49	101.63	133.98	-8.38
Число акций ао, млн	6132.13	5885.65	6181.73	6184.69	6188.78	6156.6	6241.4	6241.4	6242.85	6244.38	6225.33	0.28
FCF/акцию	-0.6592	0.2686	-1.82	1.49	1.52	0.2527	1.29	1.43	1.8	0.8738	1.13	28.16

	5 quarters average	CAGR 5

Efficiency

IFRS

Reporting Annual Quarterly

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %	59.53	22.6	46.64	-133.49	2.43	4.82	-18.74	-5.26	9.87			9.87	3.92	-1.3760	32.36
ROA, %	-24.53	-11.2	-22.62	-95.7	1.7	2.83	-9.78	-2.76	5.16			5.16	5.81	-0.5700	24.86
ROIC, %			11.78	-130.07										-59.1450	-432.29
ROS, %			-55.76	-177.04	2.3	4.1	-13.14	-3.04	5.01	5.01	5.01	5.01	6.61	-0.2300	-182.46
ROCE, %	48.38	25.88	12.25	-135.98	2.91	-0.5344	-17.52	-3.05			0	0	2.10	-30.8349	-53.21
Ebit margin, %					2.75	-0.4545	-12.28	-2.33			0	0		-3.0786	-195.94
Рентаб EBITDA, %	-208.2	-46.45	-12.14	-172.12	7.52	4.07	-6.52	2.09			1.65	1.65	11.68	1.76	-26.17
Чистая рентаб, %	-261.74	-44.58	-55.76	-177.04	2.3	4.1	-13.14	-3.04	5.01			5.01	6.61	-0.9540	16.85
Operation Margin, %			-11.28	-17	2.75	-0.4545	-12.28	-2.33	3.62	3.62	3.62	3.62	7.97	-0.7500	-178.33
Доходность FCF, %				-4.71	0.6375	-0.6744	-0.7731	0.5295	4.21					0.7859	45.87

	2018Q2	2018Q4	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	Industry average	5 quarters average	CAGR 5
ROE, %				-7.73	-4.25	-4.71	-0.9028	0.9527	-0.8415	2.5	3.58	2.65	1.57	3.92	1.89	-213.28
ROA, %				-4.12	-2.22	-2.47	-0.4592	0.4926	-0.4432	1.34	1.82	1.3	0.7663	5.81	0.9566	-211.57
ROIC, %	-22.51	-3.85													-13.1800	-58.64
ROS, %				-20.47	-10.78	-12.32	-2.19	1.94	-1.8	5.73	6.9	4.7	3.01	6.61	3.71	-210.83
ROCE, %			-2.41	-5.77	-4.54	-4.61	-0.3988	0.7743	-0.5684	2.67	2.7	1.89		2.10	1.49	19.54
Ebit margin, %									-1.22	6.12	6.93	4.39			4.05	-237.73
Рентаб EBITDA, %			-8.55	-19.2	-11.48	-9.66	-2.13	3.31	-2.75	6.5	4.56	5.55		11.68	3.43	10.89
Чистая рентаб, %				-20.47	-10.78	-12.32	-2.19	1.94	-1.8	5.73	6.9	4.7	3.01	6.61	3.71	-210.83
Operation Margin, %				-20.69	-10.11	-12.07	-0.9675	1.58	-1.22	6.12	6.93	4.39	1.81	7.97	3.61	-208.21
Доходность FCF, %				-0.2696	0.1037	-0.9693	0.8652	0.849	0.1605	0.8515	1.1	1.39	0.8598		0.8724	39.89

	Industry average	5 quarters average	CAGR 5

Coefficients

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E		-2.1	180.24	231.45	-71.57	-160.45	31.54			31.58	17.00	42.24	-29.43
P/BV		2.81	4.38	11.15	13.41	7.82	2.88			2.88	-213.30	7.93	-8.04
P/S		3.73	4.14	9.49	9.4	4.58	1.58			1.58	1.88	5.84	-17.52
P/FCF		-21.21	156.86	-148.28	-129.36	188.84	23.78	24.1	24.1	24.1	293.81	26.29	-171.46
E/P		-0.4751	0.0055	0.0043	-0.014	-0.0062	0.0173	0.0171	0.0171	0.0171	0.05	0.0063	-204.08
EV/EBITDA	4.47	-2.03	53.79	234.37	-146.18	227.14				256.06	8.30	73.42	-356.90
EV/EBIT			1148.56	-3409.43	-51.74	-203.46		0	0	0		-629.0175	-164.88
EV/S		3.5	4.05	9.54	9.53	4.75	1.66	1.66	1.66	1.66	4.05	3.85	-29.50
EV/FCF		-19.92	153.42	-149	-131.15	183.85	13.62	13.64	13.64	13.64	235.67	18.72	-163.59
Debt/EBITDA	-24.67	-0.0202	0.6207	4.8	-4.79	12.63	12.65	12.65	12.65	12.65	1.78	9.16	-221.44
Netdebt/Ebitda	4.67	0.1316	-1.07	1.49	-2.26	8.25	7.14	4.65	4.65	4.65	0.88	4.49	-215.52
Debt/Ratio	1.21	0.0188	0.0345	0.1345	0.2324	0.2376	0.1861	0.1968	0.1968	0.1968	0.23	0.2099	-3.27
Debt/Equity	-2.5	0.0262	0.0494	0.2294	0.4452	0.4511	0.3588	2.51	2.51	2.51	1.14	1.26	41.33
Debt/Net Income	-5.37	-0.0197	2.03	4.76	-2.38	-8.69	3.94	4.16	4.16	4.16	3.23	0.2380	-211.82
Бета						0.81	4.68	2.92	-0.2222	-0.2222	0.24	2.05	-172.37
Индекс Альтмана		-1.61	4.2	9.87	9.37	6.54	5.15	5.05	5.05	5.05	6.28	6.23	-11.63

	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2025Q1	Industry average	5 quarters average	CAGR 5
P/E			-150.05	-285.57	-204.03	-956.16	909.39	-894.41	281.53	88.81	63.48	31.53		17.00	-85.8120	-151.22
P/BV			11.6	12.14	9.6	8.63	8.66	7.53	7.04	5.11	4.53	2.88		-213.30	5.42	-17.49
P/S			30.71	30.79	25.15	20.95	17.67	16.12	16.13	2.9	2.53	1.58		1.88	7.85	-37.16
P/FCF			-370.97	964.55	-103.16	115.57	117.78	623.02	117.44	90.84	72.1	116.3		293.81	203.94	-28.51
E/P			-0.0067	-0.0035	-0.0049	-0.001	0.0011	-0.0011	0.0036	0.0058	0.0044	0.0035		0.05	0.0032	-226.05
EV/EBITDA		-473.15	-160.56	-272.21	-265.53	-1019.63	-104.99	-607.7	255.31	103.34	74.39			8.30	-55.9300	-193.34
EV/EBIT								-1427.42	213.79	160.82	210.5				-210.5775	-161.97
EV/S		40.43	30.83	31.26	25.66	21.68		16.7	16.6	11.15	9.25	6.22		4.05	11.98	-17.92
EV/FCF		614.23	-372.39	979.36	-105.27	119.58		645.34	120.89	84.93	63.06	83.97		235.67	199.64	-33.49
Debt/EBITDA	-4.91	-13.69	-6.04	-9.83	-13.24	-57.78		-33.23	14.33	19.02	14.82			1.78	-8.5680	-176.18
Netdebt/Ebitda		4.88	-0.8447	-4.64	-5.94	-36.8	-11.22	-22.96	8.08	10.31	8.89			0.88	-1.3800	-195.45
Debt/Ratio		0.2158	0.2335	0.2324	0.2564	0.2574		0.2245	0.2184	0.2217	0.2202	0.1861		0.23	0.2142	-3.68
Debt/Equity		0.3794	0.4382	0.4452	0.4887	0.5061		0.4262	0.4069	0.4151	0.4252	0.3588		1.14	0.4064	-3.38
Debt/Net Income		-15.24	-5.67	-10.47	-10.38	-56.06		-50.65	16.26	12.58	17.5	24.61		3.23	4.06	-186.56
Бета													-0.2222	0.24	-0.2222	0.00
Индекс Альтмана		8.69	9.14	8.22	6.67	5.81	5.08	5.33	5.26	4.39			5.05	6.28	5.02	-0.12

	Industry average	5 quarters average	CAGR 5

Dividends

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд	26.1	0.004								13.05	-98.76
Дивиденд								0
Див доход, ао, %		0	0	0	0	0	0	0	3.72
Дивиденды / прибыль, %	-138	-0.0035				0		0	34.40	-69.0018	-99.50

	2017Q4	2018Q1	2018Q2	2018Q4	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд	0.001	0.001	0.001	0.004		0.0018	41.42
Дивиденды / прибыль, %	-0.0035	-0.0035	-0.007	-0.1168	34.40	-0.0327	140.35

	Industry average	5 quarters average	CAGR 5

Other

IFRS

Reporting Annual

	2018	2019	2020	2022	2023	CAGR 5
Всего задолженность	31.83	36.59	51.15			17.13
Персонал, чел				100033	91932	-4.13

	CAGR 5

	CAGR 5

Investing Port

HKEX: 3690 - Meituan

Reporting Meituan

Reports

Capitalization

Balance sheet

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Efficiency

Coefficients

Dividends

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