Page: Company Financials
Li Ming Development Construction Co., Ltd.
$38.05
-0.20 (-0.52%)
As of: 2026-01-27
Master Data Export
Enterprise Value
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Stock Price | 48.18 | 68.25 | 49.63 |
| Market Capitalization | 4,944.24M | 6,915.12M | 5,179.86M |
| (-) Cash & Equivalents | 83.11M | 401.18M | 338.04M |
| (+) Total Debt | 6,393.49M | 6,675.41M | 9,076.89M |
| Enterprise Value | 11,254.61M | 13,189.34M | 13,918.71M |
Income Statement
| Metric | TTM | TTM-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,881M | 7,570M | 3,792M | 5,659M | 1,230M | 3,284M | 3,308M | 689M |
| Cost of Revenue | 1,731M | 6,152M | 2,765M | 4,515M | 866M | 2,543M | 2,655M | 557M |
| Gross Profit | 1,150M | 1,418M | 1,027M | 1,143M | 364M | 741M | 653M | 131M |
| Gross Profit Margin | 39.9% | 18.7% | 27.1% | 20.2% | 29.6% | 22.6% | 19.7% | 19.1% |
| R&D Expenses | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M |
| SG&A Expenses | 194M | 419M | 233M | 327M | 116M | 219M | 216M | 72M |
| Operating Expenses | 194M | 419M | 233M | 327M | 116M | 219M | 216M | 72M |
| Operating Income (EBIT) | 956M | 999M | 794M | 817M | 248M | 522M | 437M | 60M |
| Operating Income Margin | 33.2% | 13.2% | 20.9% | 14.4% | 20.2% | 15.9% | 13.2% | 8.7% |
| Interest Income | 3M | 2M | 3M | 2M | 1M | 1M | 1M | 1M |
| Interest Expense | 27M | 10M | 10M | 13M | 6M | 7M | 7M | 3M |
| Net Interest Income | -24M | -8M | -7M | -11M | -5M | -6M | -6M | -2M |
| Unusual Items | 13M | 1M | 4M | 3M | 4M | 5M | 6M | 2M |
| EBT Excluding Unusual Items | 932M | 991M | 786M | 806M | 243M | 517M | 431M | 58M |
| Pre-Tax Income | 945M | 992M | 790M | 809M | 247M | 521M | 437M | 59M |
| Pre-Tax Margin | 32.8% | 13.1% | 20.8% | 14.3% | 20.1% | 15.9% | 13.2% | 8.6% |
| Income Tax Expense | 199M | 209M | 169M | 170M | 68M | 105M | 88M | 39M |
| Net Income | 746M | 782M | 622M | 639M | 179M | 417M | 349M | 21M |
| Net Income Margin | 25.9% | 10.3% | 16.4% | 11.3% | 14.5% | 12.7% | 10.5% | 3.0% |
| Depreciation & Amortization | 3M | 2M | 2M | 2M | 2M | 2M | 2M | 0M |
| EBITDA | 959M | 1,001M | 796M | 818M | 251M | 525M | 439M | 60M |
| EBITDA Margin | 33.3% | 13.2% | 21.0% | 14.5% | 20.4% | 16.0% | 13.3% | 8.7% |
| NOPAT | 755M | 788M | 624M | 645M | 180M | 418M | 349M | 21M |
| NOPAT Margin | 26.2% | 10.4% | 16.5% | 11.4% | 14.6% | 12.7% | 10.5% | 3.0% |
| Owner's Earnings | 742M | 51M | 616M | 641M | 181M | 419M | 351M | 21M |
| Owner's Earnings Margin | 25.8% | 0.7% | 16.3% | 11.3% | 14.7% | 12.8% | 10.6% | 3.0% |
| EPS (Basic) | 7.31 | 7.50 | 6.09 | 6.26 | 1.75 | 4.09 | 3.42 | 0.20 |
| EPS (Diluted) | 7.28 | 7.66 | 6.09 | 6.26 | 1.75 | 4.09 | 3.42 | 0.20 |
| Shares (Basic) | 102M | 102M | 102M | 102M | 102M | 102M | 102M | 103M |
| Shares (Diluted) | 103M | 102M | 102M | 102M | 102M | 102M | 102M | 102M |
Balance Sheet
| Metric | MRQ | MRQ-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | 55.76M | 24.39M | 753.82M | 760.58M | 173.51M | 30.30M | 835.85M | 0.00M |
| Short-Term Investments | 130.44M | 133.18M | 128.47M | 139.60M | 210.07M | 224.20M | 171.46M | 0.00M |
| Cash & Short-Term Investments | 186.20M | 157.57M | 882.29M | 900.18M | 383.58M | 254.50M | 1,007.31M | 0.00M |
| Net Receivables | 14.96M | 0.05M | 0.04M | 0.50M | 1.36M | 74.75M | 0.05M | -314.86M |
| Inventory | 10,580.07M | 10,497.55M | 10,765.30M | 11,686.75M | 13,870.90M | 11,953.57M | 7,668.48M | 0.00M |
| Other Current Assets | 13.01M | 8.17M | 49.41M | 215.20M | 487.01M | 605.39M | 568.72M | 571.39M |
| Total Current Assets | 10,794.24M | 10,663.34M | 11,697.03M | 12,802.62M | 14,742.85M | 12,888.21M | 9,244.56M | 256.53M |
| Property, Plant & Equipment | 39.43M | 40.15M | 41.59M | 35.99M | 5.24M | 1.65M | 2.76M | 0.00M |
| Goodwill | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Intangible Assets | 0.00M | 0.00M | 0.04M | 0.50M | 0.00M | 0.00M | 0.00M | 0.00M |
| Long-Term Investments | 41.28M | 0.01M | -128.47M | -1.19M | -210.06M | -224.20M | -171.46M | 0.00M |
| Tax Assets | 3.47M | 1.11M | 42.99M | 58.97M | 23.81M | 30.96M | 15.53M | 0.00M |
| Other Non-Current Assets | 0.19M | 41.58M | 22.83M | 24.46M | 235.04M | 250.56M | 196.15M | 0.00M |
| Other Assets | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total Non-Current Assets | 84.37M | 82.84M | -21.02M | 118.73M | 54.03M | 58.97M | 42.99M | 0.00M |
| Total Assets | 10,878.61M | 10,746.18M | 11,676.01M | 12,921.34M | 14,796.88M | 12,947.17M | 9,287.55M | 256.53M |
| Accounts Payable | 490.10M | 522.54M | 817.79M | 901.64M | 703.08M | 553.27M | 429.06M | 401.73M |
| Short-Term Debt | 6,723.04M | 6,214.40M | 6,662.39M | 5,895.75M | 9,343.00M | 7,704.15M | 4,300.90M | 2,926.90M |
| Tax Payables | 0.00M | 44.97M | 54.16M | 183.32M | 1.35M | 70.55M | 90.09M | 0.00M |
| Deferred Revenue | 0.00M | 0.00M | 0.00M | 2,516.01M | 1,945.57M | 2,016.99M | 2,015.79M | 0.00M |
| Other Current Liabilities | 104.50M | 82.74M | 703.42M | 79.98M | 130.30M | 91.79M | 224.81M | 1,085.92M |
| Total Current Liabilities | 7,317.64M | 6,864.65M | 8,237.76M | 9,576.70M | 12,123.31M | 10,436.76M | 7,060.66M | 4,414.55M |
| Long-Term Debt | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Capital Lease Obligations | 1.16M | 1.15M | 1.72M | 3.64M | 6.38M | 4.44M | 2.22M | 0.00M |
| Deferred Tax Liabilities | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Non-Current Liabilities | 0.41M | 0.39M | 0.39M | 0.81M | 0.65M | 0.68M | 0.26M | 0.26M |
| Total Non-Current Liabilities | 1.57M | 1.54M | 2.11M | 4.46M | 7.04M | 5.11M | 2.47M | 0.26M |
| Total Liabilities | 7,319.20M | 6,866.19M | 8,239.87M | 9,581.16M | 12,130.34M | 10,441.87M | 7,063.13M | 4,414.80M |
| Preferred Stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock | 1,020.00M | 1,020.00M | 1,020.00M | 1,020.00M | 1,020.00M | 1,020.00M | 1,020.00M | 0.00M |
| Retained Earnings | 2,226.86M | 2,191.69M | 2,313.68M | 2,112.91M | 1,491.83M | 1,354.64M | 1,278.66M | 0.00M |
| Accumulated OCI | 408.33M | 408.33M | 346.17M | 282.27M | 0.00M | 0.00M | 0.00M | 0.00M |
| Minority Interest | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total Shareholders’ Equity | 3,655.19M | 3,620.02M | 3,679.85M | 3,415.17M | 2,511.83M | 2,374.64M | 2,298.66M | 0.00M |
| Total Equity | 3,655.19M | 3,620.02M | 3,679.85M | 3,415.17M | 2,511.83M | 2,374.64M | 2,298.66M | 0.00M |
| Total Liabilities & Equity | 10,974.40M | 10,486.21M | 11,919.72M | 12,996.33M | 14,642.17M | 12,816.52M | 9,361.79M | 4,414.80M |
| Tangible Assets | 10,878.61M | 10,746.18M | 11,675.98M | 12,920.85M | 14,796.88M | 12,947.17M | 9,287.55M | 256.53M |
| Tangible Equity | 3,655.19M | 3,620.02M | 3,679.81M | 3,414.68M | 2,511.83M | 2,374.64M | 2,298.66M | 0.00M |
| Tangible Book Value | 3,655.19M | 3,620.02M | 3,679.81M | 3,414.68M | 2,511.83M | 2,374.64M | 2,298.66M | 0.00M |
| Total Investments | 166.89M | 133.18M | 0.01M | 0.01M | 0.01M | 0.01M | 0.01M | 0.00M |
| Net Debt | 6,667.28M | 6,190.01M | 5,908.57M | 5,135.17M | 9,169.49M | 7,673.85M | 3,465.05M | 2,926.90M |
Capital Metrics
| Metric | MRQ | MRQ-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|
| Working Capital | 3,571.2M | 3,538.2M | 3,574.0M | 3,300.1M | 2,727.1M | 2,541.5M | 2,444.7M | 0.0M |
| Total Capital | 10,379.4M | 9,835.6M | 10,344.0M | 9,314.6M | 12,125.6M | 10,342.7M | 6,800.3M | 0.0M |
| Capital Employed | 3,655.6M | 3,621.0M | 3,681.4M | 3,418.3M | 2,781.1M | 2,600.5M | 2,487.7M | 0.0M |
| Invested Capital | 10,323.6M | 9,811.2M | 9,590.1M | 8,554.0M | 11,952.1M | 10,312.4M | 5,964.4M | 0.0M |
Cash Flow Statement
| Metric | TTM | TTM-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|
| Net Income | 944.86M | 983.10M | 790.30M | 808.66M | 247.03M | 521.37M | 436.88M | 59.45M |
| Depreciation & Amortization | 3.19M | 1.94M | 2.31M | 1.87M | 2.23M | 2.21M | 1.85M | 1.41M |
| Deferred Income Tax | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Stock-Based Compensation | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in Working Capital | 239.63M | 2,271.81M | -776.75M | 3,448.86M | -1,467.67M | -4,165.20M | -1,094.84M | -2,565.21M |
| Accounts Receivable | 107.66M | -15.57M | 165.26M | 272.51M | 0.00M | 0.00M | 0.00M | -131.57M |
| Inventory | 431.81M | 4,381.27M | 1,079.88M | 2,383.42M | -1,752.59M | -4,215.60M | -1,973.33M | -3,287.95M |
| Accounts Payable | 0.00M | -99.87M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Working Capital | -299.84M | -137.88M | -2,021.89M | 792.94M | 0.00M | 0.00M | 0.00M | 854.31M |
| Other Non-Cash Items | -277.68M | -347.67M | -440.95M | -259.68M | 5.22M | 5.84M | 6.48M | -98.36M |
| Net Cash from Operating Activities | 910.00M | 2,810.31M | -425.09M | 3,999.71M | -1,508.54M | -3,850.34M | -768.03M | -2,602.71M |
| Capital Expenditures (PPE) | -6.91M | -0.81M | -7.72M | -0.24M | 0.00M | -0.20M | 0.00M | 0.00M |
| Acquisitions (Net) | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Purchases of Investments | -7.22M | -0.63M | 0.00M | 0.00M | 14.18M | -52.19M | -44.63M | -0.66M |
| Sales / Maturities of Investments | 4.51M | -3.47M | 10.84M | 70.78M | 14.18M | 0.00M | 0.00M | 0.00M |
| Other Investing Activities | 5.61M | 7.03M | 3.69M | 4.32M | 1.15M | 0.39M | -1.00M | 1.07M |
| Net Cash from Investing Activities | -4.02M | 3.03M | 6.81M | 74.86M | 16.60M | -51.08M | -44.02M | 0.41M |
| Net Debt Issuance | -1,026.64M | -2,401.33M | 770.67M | -3,484.92M | 1,638.85M | 3,403.25M | 1,374.00M | 2,763.00M |
| Long-Term Debt Issuance | 0.00M | -0.91M | 0.00M | -2.74M | 0.00M | 0.00M | 0.00M | 0.00M |
| Short-Term Debt Issuance | -1,026.64M | -2,401.33M | 770.67M | -3,527.66M | 1,638.85M | 3,403.25M | 1,374.00M | 2,763.00M |
| Net Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock Repurchased | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Preferred Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Net Dividends Paid | -357.00M | -357.00M | -357.00M | 0.00M | 0.00M | -306.00M | 0.00M | -306.00M |
| Common Dividends Paid | -357.00M | -357.00M | -357.00M | 0.00M | 0.00M | -306.00M | 0.00M | -306.00M |
| Preferred Dividends Paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Financing Activities | -1.12M | -2.33M | -2.16M | -2.58M | -3.69M | -1.38M | -1.63M | -1.97M |
| Net Cash from Financing Activities | -1,384.76M | -2,760.66M | 411.52M | -3,487.50M | 1,635.16M | 3,095.87M | 1,372.37M | 2,455.03M |
| Effect of FX on Cash | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Net Change in Cash | -478.77M | 52.68M | -6.77M | 587.07M | 143.22M | -805.55M | 560.32M | -147.27M |
| Cash at Beginning of Period | 1,481.93M | 1,558.81M | 760.58M | 173.51M | 30.30M | 835.85M | 275.53M | 422.80M |
| Cash at End of Period | 1,003.16M | 1,611.49M | 753.82M | 760.58M | 173.51M | 30.30M | 835.85M | 275.53M |
| Operating Cash Flow | 910.00M | 2,810.31M | -425.09M | 3,999.71M | -1,508.54M | -3,850.34M | -768.03M | -2,602.71M |
| Capital Expenditure | -6.91M | 733.73M | -7.72M | -0.24M | 0.00M | -0.20M | 0.00M | 0.00M |
| Free Cash Flow | 903.09M | 3,544.05M | -432.82M | 3,999.48M | -1,508.54M | -3,850.54M | -768.03M | -2,602.71M |
Free Cash Flow
| Metric | TTM | TTM-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|---|---|---|
| EBITDA | 958.96M | 1,000.68M | 796.12M | 818.43M | 250.53M | 524.64M | 438.88M | 59.92M |
| (-) Tax Adjustment | 201.71M | 211.16M | 169.86M | 171.75M | 69.12M | 105.18M | 88.61M | 20.97M |
| (-) Change In Working Capital | 239.63M | 2,271.81M | -776.75M | 3,448.86M | -1,467.67M | -4,165.20M | -1,094.84M | -2,565.21M |
| (-) Capital Expenditure | -6.91M | 733.73M | -7.72M | -0.24M | 0.00M | -0.20M | 0.00M | 0.00M |
| Unlevered Free Cash Flow | 510.71M | -2,217.65M | 1,395.28M | -2,802.41M | 1,649.07M | 4,584.47M | 1,445.11M | 2,604.16M |
| (-) Net Interest Income After Taxes | -18.75M | -6.13M | -5.77M | -8.70M | -3.78M | -4.74M | -5.17M | -1.40M |
| Net Debt Issuance | -1,026.64M | -2,401.33M | 770.67M | -3,484.92M | 1,638.85M | 3,403.25M | 1,374.00M | 2,763.00M |
| Levered Free Cash Flow | -497.18M | -4,612.85M | 2,171.72M | -6,278.63M | 3,291.70M | 7,992.46M | 2,824.28M | 5,368.56M |