Company Valuation: China Overseas Property Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 27,182 26,722 19,261 16,814 14,844 11,757 - -
Change - -1.69% -27.92% -12.71% -11.72% -20.8% - -
Enterprise Value (EV) 1 22,899 22,031 13,867 11,183 7,908 3,764 3,947 2,956
Change - -3.79% -37.06% -19.36% -29.28% -52.41% 4.88% -25.11%
P/E 27.6x 21x 13.2x 10.4x 9.59x 7.21x 6.91x 6.52x
PBR 9.06x 7.4x 4.31x 3.07x 2.24x 1.54x 1.36x 1.22x
PEG - 0.7x 0.9x 0.9x -2.24x 1.34x 1.61x 1.09x
Capitalization / Revenue 2.88x 2.11x 1.36x 1.12x 0.88x 0.66x 0.63x 0.59x
EV / Revenue 2.43x 1.74x 0.98x 0.74x 0.47x 0.21x 0.21x 0.15x
EV / EBITDA 17.9x 13.4x 7.25x 5.23x 3.6x 1.72x 1.71x 1.2x
EV / EBIT 18.9x 14.2x 7.6x 5.51x 3.82x 1.79x 1.8x 1.28x
EV / FCF 35.4x 20.2x 9.43x 8.92x 6.68x 3.05x 3.46x 2.6x
FCF Yield 2.83% 4.96% 10.6% 11.2% 15% 32.7% 28.9% 38.5%
Dividend per Share 2 0.09 0.12 0.14 0.18 0.19 0.2075 0.2172 0.2344
Rate of return 1.09% 1.48% 2.39% 3.52% 4.2% 5.8% 6.07% 6.55%
EPS 2 0.2993 0.3873 0.4427 0.4925 0.4714 0.4967 0.5181 0.549
Distribution rate 30.1% 31% 31.6% 36.5% 40.3% 41.8% 41.9% 42.7%
Net sales 1 9,442 12,689 14,146 15,014 16,946 17,895 18,755 19,851
EBITDA 1 1,280 1,640 1,914 2,138 2,197 2,192 2,303 2,453
EBIT 1 1,213 1,555 1,824 2,028 2,069 2,104 2,193 2,310
Net income 1 983.9 1,273 1,455 1,618 1,548 1,628 1,703 1,802
Net Debt 1 -4,283 -4,691 -5,394 -5,631 -6,935 -7,993 -7,809 -8,800
Reference price 2 8.270 8.130 5.860 5.120 4.520 3.580 3.580 3.580
Nbr of stocks (in thousands) 32,86,860 32,86,860 32,86,860 32,83,960 32,83,960 32,83,960 - -
Announcement Date 24/03/22 23/03/23 26/03/24 27/03/25 26/03/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.25x0.21x1.75x5.76% 149.92Cr
21.87x0.95x11.48x-.--% 4.05TCr
21.77x0.87x8.22x2.21% 1.9TCr
14.49x0.57x9.99x-.--% 1.51TCr
19.4x8.27x15.7x4.8% 962.79Cr
40.36x2.38x9.35x-.--% 728.49Cr
36.2x1.3x12.84x0.82% 660.1Cr
50.62x1.11x8.48x0.31% 500.62Cr
35.42x14.7x - 1.79% 448.08Cr
16.33x0.95x5.43x0.77% 279.43Cr
Average 26.37x 3.13x 9.25x 1.65% 1.12TCr
Weighted average by Cap. 24.19x 2.18x 10.58x 1.02%

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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