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Yingli Green Energy Holding Co Ltd
YGE : NYSE : Technology
$3.86 -0.29 | -6.99%
Today's Range: 3.83 - 4.17
Avg. Daily Volume: 129,200
02/09/16 - 4:02 PM ET

Financial Analysis


YINGLI GREEN ENERGY HLDGS CO's gross profit margin for the fourth quarter of its fiscal year 2014 has significantly increased when compared to the same period a year ago. Even though sales decreased, the net income has increased. YINGLI GREEN ENERGY HLDGS CO has very weak liquidity. Currently, the Quick Ratio is 0.42 which clearly shows a lack of ability to cover short-term cash needs. The liquidity decreased from the same period a year ago, despite already having weak liquidity to begin with. This would indicate deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has significantly decreased by 141.74% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q4 FY14 Q4 FY13
Net Sales ($mil)550.29630.4
EBITDA ($mil)0.00.0
EBIT ($mil)-32.62-19.77
Net Income ($mil)-88.53-130.31


Balance Sheet Q4 FY14 Q4 FY13
Cash & Equiv. ($mil)387.05462.17
Total Assets ($mil)4369.094534.34
Total Debt ($mil)2414.42481.28
Equity ($mil)-35.0383.92


Profitability Q4 FY14 Q4 FY13
Gross Profit Margin16.7512.12
EBITDA Margin0.00.0
Operating Margin-5.93-3.14
Sales Turnover0.480.49
Return on Assets-4.79-7.08
Return on Equity0.0-382.74
Debt Q4 FY14 Q4 FY13
Current Ratio0.630.79
Debt/Capital1.010.97
Interest Expense42.8743.65
Interest Coverage-0.76-0.45


Share Data Q4 FY14 Q4 FY13
Shares outstanding (mil)181.76156.76
Div / share0.00.0
EPS-0.49-0.83
Book value / share-0.190.54
Institutional Own % n/a n/a
Avg Daily Volume2789477.01555625.0

Valuation


SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. Along with this, the price-to-book ratio is also meaningless due to a negative book value for the company, making any comparisons useless. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
YGE NM Peers 31.29   YGE 3.35 Peers 15.97

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

YGE's P/E is negative making this valuation measure meaningless.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

YGE is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
YGE NM Peers 19.15   YGE NA Peers 1.24

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

YGE's ratio is negative making this valuation measure meaningless.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
YGE NM Peers 6.42   YGE 40.98 Peers 46.83

Neutral. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

YGE's P/B is negative making this valuation measure meaningless.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, YGE is expected to trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
YGE 0.11 Peers 4.49   YGE -6.01 Peers 18.07

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

YGE is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

YGE significantly trails its peers on the basis of sales growth

 

 

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