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VIOT - Viomi Technology Co....

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Viomi Technology Co., Ltd

VIOT

NASDAQ

Viomi Technology Co., Ltd, through its subsidiaries, develops and sells Internet-of-things-enabled (IoT-enabled) smart home products in the People's Republic of China. The company offers IoT-enabled smart home products, including smart water purification systems; smart kitchen products, such as refrigerators, oven steamers, dishwashers, range hoods, and gas stoves; and other smart products comprising air conditioning systems, washing machines, water heaters, smart water kettles, sweeper robots, smart locks, smart TV, and other smart devices. It also provides a suite of complementary consumable products and small appliances, such as blenders, portable fans, rice cookers, water quality meters, water filter pitchers, stainless-steel insulated water bottles, smart toilet, and food waste disposals; and value-added services. The company sells its products directly to consumers through its online platform, Viomi mobile app, and e-commerce channels, including Youpin, JD.com, Tmall, Pinduoduo, and Suning, as well as offline experience stores. Viomi Technology Co., Ltd has a strategic partnership with Xiaomi Corporation. The company was founded in 2014 and is headquartered in Guangzhou, China.

1.47 USD

-0.03 (-2.04%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

3.26B

3.56B

3.82B

3.76B

3.62B

3.72B

3.82B

3.93B

4.03B

4.15B

Revenue %

-

8.98

7.34

-1.6

-3.67

2.76

2.76

2.76

2.76

Ebitda

685M

587M

531M

636M

707M

653.5M

671.55M

690.1M

709.16M

728.74M

Ebitda %

20.99

16.51

13.91

16.93

19.54

17.58

17.58

17.58

17.58

Ebit

586M

478M

414M

512M

578M

534.3M

549.05M

564.22M

579.8M

595.81M

Ebit %

17.96

13.44

10.85

13.63

15.98

14.37

14.37

14.37

14.37

Depreciation

99M

109M

117M

124M

129M

119.21M

122.5M

125.88M

129.36M

132.93M

Depreciation %

3.03

3.07

3.07

3.3

3.57

3.21

3.21

3.21

3.21

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

312M

164M

38M

115M

137M

163.72M

168.24M

172.89M

177.66M

182.57M

Total Cash %

9.56

4.61

1

3.06

3.79

4.4

4.4

4.4

4.4

Receivables

309M

338M

370M

361M

350M

356.57M

366.42M

376.54M

386.94M

397.63M

Receivables %

9.47

9.51

9.69

9.61

9.67

9.59

9.59

9.59

9.59

Inventories

419M

583M

722M

524M

567M

578.31M

594.28M

610.7M

627.56M

644.9M

Inventories %

12.84

16.39

18.92

13.95

15.67

15.55

15.55

15.55

15.55

Payable

226M

261M

298M

253M

319M

279.78M

287.51M

295.45M

303.61M

311.99M

Payable %

6.93

7.34

7.81

6.74

8.82

7.53

7.53

7.53

7.53

Cap Ex

-143M

-141M

-128M

-104M

-

-107.6M

-110.57M

-113.62M

-116.76M

-119.98M

Cap Ex %

-4.38

-3.97

-3.35

-2.77

-

-2.89

-2.89

-2.89

-2.89

Weighted Average Cost Of Capital

Price

23.9

Beta

Diluted Shares Outstanding

210.4M

Costof Debt

7.53

Tax Rate

After Tax Cost Of Debt

5.88

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

1.69B

Total Equity

5.03B

Total Capital

6.71B

Debt Weighting

25.11

Equity Weighting

74.89

Wacc

6.76

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

3.26B

3.56B

3.82B

3.76B

3.62B

3.72B

3.82B

3.93B

4.03B

4.15B

Ebitda

685M

587M

531M

636M

707M

653.5M

671.55M

690.1M

709.16M

728.74M

Ebit

586M

478M

414M

512M

578M

534.3M

549.05M

564.22M

579.8M

595.81M

Tax Rate

21.95

21.95

21.95

21.95

21.95

21.95

21.95

21.95

21.95

21.95

Ebiat

412.24M

360.17M

316.01M

388.23M

451.12M

401.69M

412.78M

424.18M

435.9M

447.94M

Depreciation

99M

109M

117M

124M

129M

119.21M

122.5M

125.88M

129.36M

132.93M

Receivables

309M

338M

370M

361M

350M

356.57M

366.42M

376.54M

386.94M

397.63M

Inventories

419M

583M

722M

524M

567M

578.31M

594.28M

610.7M

627.56M

644.9M

Payable

226M

261M

298M

253M

319M

279.78M

287.51M

295.45M

303.61M

311.99M

Cap Ex

-143M

-141M

-128M

-104M

-

-107.6M

-110.57M

-113.62M

-116.76M

-119.98M

Ufcf

-133.76M

170.17M

171.01M

570.23M

614.12M

356.19M

406.62M

417.85M

429.39M

441.25M

Wacc

6.76

6.76

6.76

6.76

6.76

Pv Ufcf

333.64M

356.76M

343.4M

330.54M

318.16M

Sum Pv Ufcf

1.68B

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

6.76

Free Cash Flow T1

450.08M

Terminal Value

9.45B

Present Terminal Value

6.81B

Intrinsic Value

Enterprise Value

8.49B

Net Debt

1.69B

Equity Value

6.81B

Diluted Shares Outstanding

210.4M

Equity Value Per Share

32.35

Projected DCF

32.35 0.261%

DCF Levered

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