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 83,991 - -
Change - -5.89% -4.8% 41.12% -19.78% -28.64% - -
Enterprise Value (EV) 1 4,48,387 4,66,342 5,05,403 5,98,082 6,65,355 4,81,624 5,06,598 5,32,845
Change - 4% 8.38% 18.34% 11.25% -27.61% 5.19% 5.18%
P/E 3.32x 2.91x 2.18x 3.68x 5.33x 3.35x 3.2x 3.12x
PBR 0.21x - 0.17x 0.27x 0.24x 0.16x 0.15x 0.15x
PEG - 0.3x 0.1x -1.07x -0.1x 0.35x 0.69x 1.22x
Capitalization / Revenue 0.17x 0.15x 0.14x 0.19x 0.16x 0.11x 0.11x 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 10.4x 10.4x 10.5x
EV / EBIT 13x 13.8x 13x 15.2x 24.7x 16.9x 17.1x 17.3x
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% 6.29% 6.53% 7.09%
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 7,67,126 7,92,028 8,16,823
EBITDA 1 46,680 47,126 52,008 52,706 39,752 46,348 48,849 50,808
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 15,478 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 3.154 3.154 3.154
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.($)
3.39x0.63x10.41x6.23% 1.25TCr
59.18x2.7x25.79x0.06% 10TCr
13.57x1.14x6.24x4.31% 7.8TCr
35.88x4.52x24.55x0.19% 6.07TCr
26.73x2.05x20.14x1.13% 5.87TCr
59.01x4.67x29.52x1.52% 4.68TCr
30.95x0.76x12.63x2% 3.85TCr
25.44x1.74x16.07x0.18% 3.67TCr
25.85x0.53x8.37x2.28% 3.51TCr
4.41x0.29x5.46x6.34% 2.72TCr
Average 28.44x 1.90x 15.92x 2.42% 4.95TCr
Weighted average by Cap. 33.82x 2.23x 17.76x 1.83%

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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