Company Valuation: China National Building Material Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 66,194 65,692 47,826 25,572 28,059 40,567 40,567 -
Change - -0.76% -27.2% -46.53% 9.72% 44.58% 0% -
Enterprise Value (EV) 1 2,14,877 1,99,983 1,98,088 1,85,172 1,96,435 2,17,245 2,14,261 2,07,958
Change - -6.93% -0.95% -6.52% 6.08% 10.59% -1.37% -2.94%
P/E ratio 5.27x 4.05x 6.01x 6.74x 11.8x 11.9x 8.19x 7x
PBR 0.61x 0.55x 0.39x 0.21x 0.23x 0.39x 0.37x 0.36x
PEG - 0.1x -0.1x -0.1x -0.3x 0.2x 0.2x 0.4x
Capitalization / Revenue 0.26x 0.24x 0.21x 0.12x 0.15x 0.22x 0.22x 0.21x
EV / Revenue 0.84x 0.73x 0.86x 0.88x 1.08x 1.2x 1.15x 1.07x
EV / EBITDA 4.46x 3.88x 5.56x 5.77x 6.8x 6.83x 6.01x 5.75x
EV / EBIT 5.83x 5.2x 9.75x 14.7x 24.1x 15.9x 12.6x 11.7x
EV / FCF 4.78x 8.9x 274x 24.1x 83.4x 23.6x 16.5x 14.6x
FCF Yield 20.9% 11.2% 0.37% 4.16% 1.2% 4.23% 6.05% 6.83%
Dividend per Share 2 0.47 0.693 0.378 0.229 0.158 0.2256 0.3447 0.3827
Rate of return 5.99% 8.9% 6.67% 7.55% 4.75% 4.22% 6.45% 7.16%
EPS 2 1.488 1.923 0.944 0.45 0.283 0.4484 0.6523 0.7634
Distribution rate 31.6% 36% 40% 50.9% 55.8% 50.3% 52.8% 50.1%
Net sales 1 2,54,762 2,73,683 2,30,168 2,10,216 1,81,301 1,80,953 1,86,579 1,93,815
EBITDA 1 48,225 51,506 35,656 32,092 28,883 31,825 35,634 36,165
EBIT 1 36,858 38,452 20,326 12,630 8,166 13,690 17,044 17,771
Net income 1 12,553 16,218 7,962 3,863 2,387 3,507 5,149 6,289
Net Debt 1 1,48,682 1,34,291 1,50,263 1,59,600 1,68,377 1,76,678 1,73,694 1,67,391
Reference price 2 7.848 7.788 5.670 3.032 3.327 5.343 5.343 5.343
Nbr of stocks (in thousands) 84,34,771 84,34,771 84,34,771 84,34,771 84,34,771 75,93,021 75,93,021 -
Announcement Date 26/03/21 25/03/22 24/03/23 28/03/24 27/03/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.84x1.2x6.82x4.25% 584.79Cr
18.58x2.22x10.6x1.4% 7.42TCr
43.74x4.31x22.62x0.66% 3.94TCr
31.55x6x17.44x0.54% 3.82TCr
30.77x5.07x16.23x0.73% 3.75TCr
14.91x1.69x7.83x1.99% 3.67TCr
23.18x2.98x11.28x0.94% 3.38TCr
441.36x4.8x113.47x0.37% 2.01TCr
32.51x6.31x17.64x1.17% 1.59TCr
Average 72.05x 3.84x 24.88x 1.34% 3.35TCr
Weighted average by Cap. 53.89x 3.71x 20.63x 1.11%

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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