Company Valuation: China Petroleum & Chemical Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 4,59,645 4,79,659 4,97,343 6,20,445 7,50,074 7,44,417 7,44,417 -
Change - 4.35% 3.69% 24.75% 20.89% -0.75% 0% -
Enterprise Value (EV) 1 5,63,299 6,68,544 5,26,581 8,79,603 10,77,576 10,89,140 10,78,115 10,65,531
Change - 18.68% -21.23% 67.04% 22.51% 1.07% -1.01% -1.17%
P/E ratio 10.7x 4.98x 6.1x 7.62x 10.4x 14.9x 12.2x 10.4x
PBR 0.48x 0.46x 0.51x 0.55x 0.62x 0.7x 0.69x 0.67x
PEG - 0x -0.77x -0.7x -0.6x -0.7x 0.5x 0.6x
Capitalization / Revenue 0.22x 0.18x 0.15x 0.19x 0.24x 0.25x 0.26x 0.25x
EV / Revenue 0.27x 0.24x 0.16x 0.27x 0.35x 0.37x 0.37x 0.35x
EV / EBITDA 4.69x 3.18x 2.84x 4.39x 5.63x 6.08x 5.6x 5.21x
EV / EBIT 42.7x 7.06x 6.94x 10.1x 15.2x 18.7x 15.6x 13.7x
EV / FCF 11.3x 6.88x -14.1x -87.8x 106x 43.1x 25.9x 25.8x
FCF Yield 8.81% 14.5% -7.12% -1.14% 0.94% 2.32% 3.86% 3.88%
Dividend per Share 2 0.2 0.47 0.355 0.345 0.286 0.2262 0.2751 0.3141
Rate of return 6.84% 15.9% 10.6% 9.29% 6.84% 4.76% 5.79% 6.61%
EPS 2 0.273 0.594 0.547 0.487 0.404 0.3187 0.3907 0.4574
Distribution rate 73.3% 79.1% 64.9% 70.8% 70.8% 71% 70.4% 68.7%
Net sales 1 21,10,000 27,40,884 33,18,168 32,12,215 30,74,562 29,25,448 29,11,402 30,37,130
EBITDA 1 1,20,158 2,10,308 1,85,741 2,00,578 1,91,400 1,79,143 1,92,649 2,04,344
EBIT 1 13,193 94,628 75,835 86,828 70,686 58,145 68,987 77,999
Net income 1 33,100 71,975 66,153 58,310 48,939 40,224 49,888 58,588
Net Debt 1 1,03,654 1,88,885 29,238 2,59,158 3,27,502 3,44,724 3,33,699 3,21,115
Reference price 2 2.922 2.957 3.335 3.713 4.182 4.751 4.751 4.751
Nbr of stocks (in thousands) 12,10,71,210 12,10,71,210 11,98,96,408 11,93,49,252 12,12,80,768 12,09,25,514 12,09,25,514 -
Announcement Date 28/03/21 27/03/22 26/03/23 24/03/24 23/03/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.91x0.38x6.19x4.76% 11TCr
21.65x1.98x9.31x2.68% 62TCr
23.49x2.16x11.84x0.42% 22TCr
14.26x0.71x3.63x5.05% 10TCr
15.91x1.92x6.04x3.15% 6.41TCr
26.66x0.63x10.33x3.01% 6.36TCr
29.03x0.56x9.27x2.23% 6.18TCr
18.51x0.67x7.83x1.83% 5.99TCr
19.79x1.57x10.27x1.84% 5.45TCr
8.24x0.72x4.16x4.4% 3.73TCr
Average 19.24x 1.13x 7.89x 2.94% 13.88TCr
Weighted average by Cap. 20.61x 1.56x 8.79x 2.65%
See all sector valuations

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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