Company Valuation: China Enterprise Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 20,483 18,199 18,622 19,045 16,990 16,385
Change - -11.15% 2.33% 2.27% -10.79% -3.56%
Enterprise Value (EV) 1 23,323 25,233 24,681 24,618 21,624 29,040
Change - 8.19% -2.19% -0.26% -12.16% 34.3%
P/E 14.6x 23.2x 770x 35x -56.2x 136x
PBR 1.3x 1.17x 1.22x 1.28x 1.19x 1.15x
PEG - -0.5x -7.9x 0x 0x -1x
Capitalization / Revenue 1.77x 1.9x 7.16x 1.44x 2.44x 1.55x
EV / Revenue 2.02x 2.63x 9.49x 1.87x 3.11x 2.75x
EV / EBITDA 7.89x 9.96x 144x 11.6x 15.1x 13.4x
EV / EBIT 8.67x 11.2x -153x 13.9x 21.4x 16.7x
EV / FCF -12.4x 4.86x -23.8x 74.5x 14.6x -3.68x
FCF Yield -8.08% 20.6% -4.2% 1.34% 6.84% -27.2%
Dividend per Share 2 0.138 0.053 0.002 0.028 - 0.0059
Rate of return 4.11% 1.76% 0.06% 0.89% - 0.22%
EPS 2 0.23 0.13 0.004 0.09 -0.05 0.02
Distribution rate 60% 40.8% 50% 31.1% - 29.5%
Net sales 1 11,552 9,597 2,601 13,187 6,959 10,557
EBITDA 1 2,958 2,534 171.8 2,122 1,428 2,162
EBIT 1 2,689 2,247 -161.7 1,773 1,010 1,741
Net income 1 1,378 805.3 23.05 555.2 -316.8 118.6
Net Debt 1 2,840 7,034 6,059 5,572 4,634 12,655
Reference price 2 3.360 3.010 3.080 3.150 2.810 2.710
Nbr of stocks (in thousands) 6,096,135 6,046,135 6,046,135 6,046,135 6,046,135 6,046,135
Announcement Date 3/24/21 A 3/24/22 A 4/19/23 A 4/17/24 A 4/16/25 A 3/25/26 A
1CNY in Million2CNY
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 1.98B
16.39x5.15x13.85x3.09% 46.7B
9x1.53x8x3.95% 31.14B
18.3x4.04x16.3x1.34% 28.1B
5.55x0.68x1.43x9.01% 26.71B
14x3.1x14.84x2.51% 25.6B
11.15x2.12x9.92x3.98% 21.13B
8.15x0.9x3.29x2.74% 20.84B
10.59x1.68x14.51x3.57% 19.32B
13.56x6.56x17.49x1.58% 19.66B
Average 11.85x 2.86x 11.07x 3.53% 24.12B
Weighted average by Cap. 12.30x 3.03x 11.18x 3.56%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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