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 1,16,054 1,09,222 1,03,981 1,46,733 1,17,703 81,617 - -
Change - -5.89% -4.8% 41.12% -19.78% -30.66% - -
Enterprise Value (EV) 4,48,387 4,66,342 5,05,403 5,98,082 6,65,355 81,617 81,617 81,617
Change - 4% 8.38% 18.34% 11.25% -87.73% 0% 0%
P/E 3.32x 2.91x 2.18x 3.68x 5.33x 3.06x 2.97x 2.91x
PBR 0.21x - 0.17x 0.27x 0.24x 0.15x 0.14x 0.13x
PEG - 0.3x 0.1x -1.07x -0.1x 0.3x 0.94x 1.43x
Capitalization / Revenue 0.17x 0.15x 0.14x 0.19x 0.16x 0.11x 0.1x 0.1x
EV / Revenue 0x 0x 0x 0x 0x 0.11x 0.1x 0.1x
EV / EBITDA 0x 0x 0x 0x 0x 1.76x 1.67x 1.61x
EV / EBIT 0x 0x 0x 0x 0x 2.86x 2.76x 2.65x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2037 - 0.2925 0.3017 0.1949 0.1996 0.2015 0.2275
Rate of return 5.9% - 9.26% 5.85% 4.25% 6.86% 6.93% 7.82%
EPS 2 1.04 1.14 1.45 1.4 0.86 0.95 0.98 1
Distribution rate 19.6% - 20.2% 21.6% 22.7% 21% 20.6% 22.8%
Net sales 1 6,82,599 7,17,473 7,55,646 7,68,243 7,31,109 7,62,667 7,81,340 7,99,968
EBITDA 1 46,680 47,126 52,008 52,706 39,752 46,356 48,878 50,843
EBIT 1 34,539 33,716 38,955 39,307 26,931 28,520 29,590 30,770
Net income 1 18,348 20,065 24,734 23,854 14,751 15,467 15,958 16,581
Net Debt 3,32,333 3,57,120 4,01,422 4,51,349 5,47,652 - - -
Reference price 2 3.454 3.317 3.159 5.159 4.583 2.909 2.909 2.909
Nbr of stocks (in thousands) 1,61,65,711 1,61,65,711 1,62,63,661 1,62,78,611 1,62,45,298 1,61,52,778 - -
Announcement Date 30/03/22 30/03/23 28/03/24 27/03/25 30/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
3.06x - - 6.87% 1.22TCr
55.55x2.56x24.44x0.07% 9.66TCr
12.36x1.06x5.79x4.73% 7.12TCr
33.46x4.2x22.82x0.2% 5.71TCr
26.01x2x19.7x1.14% 5.57TCr
51.4x4.07x25.79x1.9% 4.04TCr
27.66x0.7x11.44x2.23% 3.47TCr
23.1x1.58x14.53x0.2% 3.34TCr
22.33x0.45x7.09x2.71% 3.04TCr
4.96x0.31x5.79x5.92% 2.65TCr
Average 25.99x 1.88x 15.27x 2.6% 4.58TCr
Weighted average by Cap. 31.12x 2.10x 16.74x 1.97%

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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