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 81,361 - -
Change - -5.89% -4.8% 41.12% -19.78% -30.88% - -
Enterprise Value (EV) 1 4,48,387 4,66,342 5,05,403 5,98,082 6,65,355 4,78,994 5,03,968 5,30,214
Change - 4% 8.38% 18.34% 11.25% -28.01% 5.21% 5.21%
P/E 3.32x 2.91x 2.18x 3.68x 5.33x 3.38x 3.23x 3.15x
PBR 0.21x - 0.17x 0.27x 0.24x 0.16x 0.15x 0.15x
PEG - 0.3x 0.1x -1.07x -0.1x 0.36x 0.7x 1.23x
Capitalization / Revenue 0.17x 0.15x 0.14x 0.19x 0.16x 0.11x 0.1x 0.1x
EV / Revenue 0.66x 0.65x 0.67x 0.78x 0.91x 0.63x 0.64x 0.65x
EV / EBITDA 9.61x 9.9x 9.72x 11.3x 16.7x 11x 10.7x 10.6x
EV / EBIT 13x 13.8x 13x 15.2x 24.7x 16.3x 16.4x 16.5x
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% 6.25% 6.48% 7.03%
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 6,82,599 7,17,473 7,55,646 7,68,243 7,31,109 7,66,064 7,91,318 8,17,147
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 3,32,333 3,57,120 4,01,422 4,51,349 5,47,652 3,97,633 4,22,607 4,48,853
Reference price 2 3.454 3.317 3.159 5.159 4.583 3.179 3.179 3.179
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 1,62,15,082 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
3.39x0.63x11.07x6.22% 1.22TCr
73.78x3.17x31.02x0.06% 11TCr
13.99x1.15x6.32x4.19% 7.98TCr
45.16x5.62x31.21x0.15% 6.85TCr
27.58x2.08x20.23x1.13% 6.06TCr
58.42x4.88x31.27x1.45% 4.92TCr
36.28x0.86x14.48x1.74% 4.27TCr
30.36x0.61x9.73x1.98% 3.82TCr
27.89x1.81x17.47x0.17% 3.62TCr
4.51x0.29x6.19x6.29% 2.67TCr
Average 32.14x 2.11x 17.90x 2.34% 5.21TCr
Weighted average by Cap. 39.41x 2.54x 20.44x 1.71%

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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