Company Valuation: Bank of China Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,34,257 8,76,091 10,67,151 14,73,279 17,02,268 17,77,738 - -
Change - 5.01% 21.81% 38.06% 15.54% 4.43% - -
Enterprise Value (EV) 8,34,257 8,76,091 10,67,151 14,73,279 17,02,268 17,77,738 17,77,738 17,77,738
Change - 5.01% 21.81% 38.06% 15.54% 4.43% 0% 0%
P/E 3.27x 3.44x 3.66x 4.97x 5.42x 5.93x 5.76x 5.39x
PBR 0.35x 0.36x 0.36x 0.46x 0.48x 0.5x 0.47x 0.44x
PEG - 0.8x 2.67x 3.68x -4.07x 2.74x 1.99x 0.78x
Capitalization / Revenue 1.38x 1.42x 1.71x 2.33x 2.58x 2.54x 2.41x 2.25x
EV / Revenue 0x 0x 0x 0x 0x 2.54x 2.41x 2.25x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.14x 3.91x 3.64x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.221 0.232 0.2364 0.2424 0.2263 0.2366 0.2462 0.2632
Rate of return 9.65% 9.24% 8.74% 6.5% 5.65% 5.28% 5.49% 5.87%
EPS 2 0.7 0.73 0.74 0.75 0.74 0.756 0.7778 0.8314
Distribution rate 31.6% 31.8% 31.9% 32.3% 30.6% 31.3% 31.6% 31.7%
Net sales 1 6,05,717 6,19,139 6,24,138 6,32,771 6,59,866 7,00,613 7,36,916 7,90,487
EBITDA - - - - - - - -
EBIT 1 3,79,362 3,87,943 4,01,205 3,97,001 4,03,243 4,28,971 4,54,689 4,88,407
Net income 1 2,16,559 2,27,439 2,31,904 2,37,841 2,43,021 2,47,582 2,57,014 2,73,036
Net Debt - - - - - - - -
Reference price 2 2.289 2.512 2.705 3.731 4.008 4.482 4.482 4.482
Nbr of stocks (in thousands) 29,43,84,261 29,43,87,791 29,43,87,791 29,43,87,791 32,22,12,412 32,22,12,412 - -
Announcement Date 29/03/22 30/03/23 28/03/24 26/03/25 30/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.01x - - 5.21% 27TCr
13.42x - - 1.86% 90TCr
12.94x - - 1.96% 42TCr
5.96x - - 5.2% 39TCr
12.26x - - 4.21% 34TCr
18.62x - - 2.29% 29TCr
5.67x - - 5.38% 30TCr
11.89x - - 2.21% 26TCr
14.14x - - 2.8% 24TCr
18.09x - - 2.6% 20TCr
Average 11.90x 3.37% 36.14TCr
Weighted average by Cap. 11.88x 3.16%

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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