Company Valuation: China Communications Construction Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 116,054 109,222 103,981 146,733 117,703 88,019 - -
Change - -5.89% -4.8% 41.12% -19.78% -25.22% - -
Enterprise Value (EV) 1 448,387 466,342 505,403 598,082 665,355 485,652 510,626 536,872
Change - 4% 8.38% 18.34% 11.25% -27.01% 5.14% 5.14%
P/E 3.32x 2.91x 2.18x 3.68x 5.33x 3.59x 3.43x 3.34x
PBR 0.21x - 0.17x 0.27x 0.24x 0.17x 0.16x 0.16x
PEG - 0.3x 0.1x -1.07x -0.1x 0.38x 0.74x 1.3x
Capitalization / Revenue 0.17x 0.15x 0.14x 0.19x 0.16x 0.11x 0.11x 0.11x
EV / Revenue 0.66x 0.65x 0.67x 0.78x 0.91x 0.63x 0.65x 0.66x
EV / EBITDA 9.61x 9.9x 9.72x 11.3x 16.7x 11.2x 10.8x 10.7x
EV / EBIT 13x 13.8x 13x 15.2x 24.7x 16.6x 16.7x 16.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2037 - 0.2925 0.3017 0.1949 0.1986 0.206 0.2236
Rate of return 5.9% - 9.26% 5.85% 4.25% 5.88% 6.1% 6.63%
EPS 2 1.04 1.14 1.45 1.4 0.86 0.9415 0.9852 1.01
Distribution rate 19.6% - 20.2% 21.6% 22.7% 21.1% 20.9% 22.1%
Net sales 1 682,599 717,473 755,646 768,243 731,109 766,064 791,318 817,147
EBITDA 1 46,680 47,126 52,008 52,706 39,752 43,388 47,097 50,046
EBIT 1 34,539 33,716 38,955 39,307 26,931 29,320 30,651 32,045
Net income 1 18,348 20,065 24,734 23,854 14,751 15,478 15,902 16,156
Net Debt 1 332,333 357,120 401,422 451,349 547,652 397,633 422,607 448,853
Reference price 2 3.454 3.317 3.159 5.159 4.583 3.375 3.375 3.375
Nbr of stocks (in thousands) 16,165,711 16,165,711 16,263,661 16,278,611 16,245,298 16,152,778 - -
Announcement Date 3/30/22 A 3/30/23 A 3/28/24 A 3/27/25 A 3/30/26 A - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
3.49x0.64x11.15x6.04% 12.76B
60.9x2.64x25.8x0.07% 88.29B
13.2x1.07x5.85x4.45% 71.51B
33.56x4.22x22.9x0.2% 57.14B
25.7x2.02x19.66x1.24% 55.19B
53.88x4.49x28.69x1.71% 44.52B
31x0.74x12.23x2.05% 37.04B
25.37x0.5x7.96x2.35% 32.48B
24.09x1.56x14.99x0.2% 31.37B
4.78x0.3x5.8x5.97% 28.33B
Average 27.60x 1.82x 15.50x 2.43% 45.86B
Weighted average by Cap. 32.62x 2.12x 17.13x 1.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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