Company Valuation: Quectel Wireless Solutions Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,641 19,053 14,197 17,908 27,461 29,287 - -
Change - -35.72% -25.49% 26.14% 53.35% 6.65% - -
Enterprise Value (EV) 1 30,439 19,926 14,570 18,239 27,299 28,293 29,287 26,344
Change - -34.54% -26.88% 25.18% 49.67% 3.64% 3.51% -10.05%
P/E 73.9x 30.6x 158x 30.7x 29.8x 24.3x 22.7x 19.8x
PBR 9.26x 5.12x 3.92x 4.48x 3.64x 3.79x 3.29x 2.87x
PEG - 0.6x -1.8x 0x 0.7x 0.8x 3.12x 1.4x
Capitalization / Revenue 2.63x 1.34x 1.02x 0.96x 1.13x 0.96x 0.82x 0.71x
EV / Revenue 2.7x 1.4x 1.05x 0.98x 1.12x 0.92x 0.82x 0.64x
EV / EBITDA 53.7x 22.5x 34.3x 19.9x 23.2x 16.7x 15.6x 12.6x
EV / EBIT 84.5x 32.6x 177x 31.1x 33.5x 23.9x 22x 17.5x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2904 0.5102 0.0786 0.1857 0.2714 0.3428 0.4143 -
Rate of return 0.36% 0.99% 0.2% 0.38% 0.4% 0.47% 0.57% -
EPS 2 1.083 1.684 0.2429 1.593 2.286 2.99 3.208 3.67
Distribution rate 26.8% 30.3% 32.4% 11.7% 11.9% 11.5% 12.9% -
Net sales 1 11,262 14,230 13,861 18,594 24,326 30,643 35,572 41,209
EBITDA 1 566.4 884 425.2 916.7 1,176 1,697 1,880 2,094
EBIT 1 360.2 611.4 82.44 586.6 815.8 1,184 1,330 1,506
Net income 1 358.1 623.8 90.71 588.2 837.1 1,206 1,291 1,479
Net Debt 1 797.7 873.1 372.9 331.1 -162.7 -993.7 - -2,943
Reference price 2 80.02 51.44 38.39 48.89 68.15 72.68 72.68 72.68
Nbr of stocks (in thousands) 370,405 370,405 369,787 366,321 402,953 402,953 - -
Announcement Date 3/7/22 A 4/12/23 A 4/22/24 A 4/23/25 A 4/23/26 A - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.31x0.92x16.67x0.47% 4.36B
2258.2x44.03x90.19x - 2,018B
32.81x6.56x27.19x0.18% 223B
15.11x2.76x6.97x2.51% 177B
10.82x2.47x6.63x4.37% 174B
15.31x2.45x8.09x2.77% 73.53B
14.76x1.44x4.89x3.31% 38.35B
19.18x5.31x9.68x4.93% 30.71B
8.19x0.27x1.1x7.98% 21.77B
11.39x3.07x6.89x7.61% 18.46B
Average 241.01x 6.93x 17.83x 3.79% 277.91B
Weighted average by Cap. 1,644.90x 32.99x 69.00x 2.68%

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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