Company Valuation: China Resources Beverage (Holdings) Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2024 2025 2026 2027 2028
Market Cap 1 26,457 21,680 15,530 - -
Change - -18.06% -28.37% - -
Enterprise Value (EV) 1 20,799 15,433 11,097 9,911 10,570
Change - -25.8% -28.1% -10.69% 6.66%
P/E 14x 22x 14.1x 12x 10.9x
PBR 2.02x 2.02x 1.38x 1.3x 1.27x
PEG 0.7x -0.5x 1.2x 0.7x 1.1x
Capitalization / Revenue 1.96x 1.97x 1.33x 1.25x 1.17x
EV / Revenue 1.54x 1.4x 0.95x 0.8x 0.8x
EV / EBITDA 7.42x 7.56x 5.31x 4.1x 4.11x
EV / EBIT 9.34x 12.7x 9.4x 7.02x 6.87x
EV / FCF -35.4x 975x 8.98x 9.02x 8.02x
FCF Yield -2.83% 0.1% 11.1% 11.1% 12.5%
Dividend per Share 2 0.307 0.253 0.3214 0.3583 0.354
Rate of return 2.78% 2.8% 4.96% 5.53% 5.47%
EPS 2 0.79 0.41 0.4591 0.5396 0.5947
Distribution rate 38.9% 61.7% 70% 66.4% 59.5%
Net sales 1 13,521 11,002 11,637 12,438 13,249
EBITDA 1 2,802 2,041 2,092 2,420 2,572
EBIT 1 2,226 1,218 1,180 1,411 1,539
Net income 1 1,637 985.3 1,102 1,310 1,452
Net Debt 1 -5,658 -6,247 -4,433 -5,619 -4,959
Reference price 2 11.032 9.040 6.476 6.476 6.476
Nbr of stocks (in thousands) 23,98,197 23,98,197 23,98,197 - -
Announcement Date 21/03/25 26/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.11x0.95x5.31x4.96% 229.11Cr
24.79x7.72x21.89x2.61% 35TCr
15.39x2.67x11.2x3.02% 4.21TCr
20.14x1.77x11.15x2.23% 2.42TCr
16.2x1.48x7.25x4.58% 1.94TCr
45.03x6.06x26.26x0.42% 1.63TCr
10.48x1.78x10.24x4.6% 1.36TCr
27.73x2.01x9.24x1.94% 900.64Cr
16.14x0.68x5.11x2.59% 888.01Cr
Average 21.11x 2.79x 11.96x 3% 5.41TCr
Weighted average by Cap. 23.53x 6.25x 19.05x 2.69%

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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