Company Valuation: China Vanke Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,20,246 2,02,298 1,15,413 81,037 51,721 35,337 - -
Change - -8.15% -42.95% -29.79% -36.18% -31.68% - -
Enterprise Value (EV) 1 3,40,581 3,82,735 3,39,323 3,57,892 3,19,938 2,81,275 2,88,683 2,63,374
Change - 12.38% -11.34% 5.47% -10.6% -12.08% 2.63% -8.77%
P/E Ratio 10.2x 9.33x 10.2x -1.74x -0.62x -2.19x -2.78x -2.66x
PBR 0.97x 0.87x 0.49x 0.43x 0.47x 0.42x 0.38x 0.68x
PEG - 18.1x -0.2x 0x -0x 0x 0.1x -0.59x
Capitalization / Revenue 0.49x 0.4x 0.25x 0.24x 0.22x 0.2x 0.23x 0.25x
EV / Revenue 0.75x 0.76x 0.73x 1.04x 1.37x 1.59x 1.89x 1.88x
EV / EBITDA 5.87x 6.49x 5.68x -9.17x -7.66x 70.1x 31.3x 20x
EV / EBIT 6.48x 7.36x 6.7x -7.84x -6.14x -43.3x -46.2x -79.5x
EV / FCF -63.1x -38.3x -76,738x 120x -76.5x 29.6x -21.3x -
FCF Yield -1.59% -2.61% -0% 0.83% -1.31% 3.38% -4.7% -
Dividend per Share 2 0.97 0.68 - - - - - -
Rate of return 4.91% 3.74% - - - - - -
EPS 2 1.94 1.95 1.03 -4.173 -7.445 -1.427 -1.124 -1.175
Distribution rate 50% 34.9% - - - - - -
Net sales 1 4,52,798 5,03,838 4,65,739 3,43,176 2,33,433 1,76,432 1,52,431 1,40,250
EBITDA 1 58,013 58,951 59,730 -39,047 -41,784 4,011 9,227 13,196
EBIT 1 52,531 52,007 50,649 -45,644 -52,137 -6,491 -6,246 -3,311
Net income 1 22,524 22,618 12,163 -49,478 -88,556 -17,737 -10,991 -7,177
Net Debt 1 1,20,335 1,80,437 2,23,910 2,76,855 2,68,217 2,45,937 2,53,346 2,28,037
Reference price 2 19.760 18.200 10.460 7.260 4.650 3.120 3.120 3.120
Nbr of stocks (in thousands) 1,16,25,383 1,15,57,753 1,18,57,753 1,18,57,753 1,19,30,709 1,19,30,709 - -
Announcement Date 30/03/22 30/03/23 28/03/24 31/03/25 31/03/26 - - -
1CNY in Million2CNY
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-2.21x1.78x78.29x-.--% 525.32Cr
133.15x - - - 5.59TCr
11.16x3.46x9.98x-.--% 2.3TCr
7.1x16.04x19.1x6.44% 1.96TCr
4.2x0.03x0.06x8.1% 1.48TCr
8.33x16.85x - 6.76% 827.35Cr
8.26x0.84x6.91x2.37% 613.26Cr
5.87x13.74x20.75x5.95% 447.05Cr
9.95x0.5x6.63x4.66% 377.35Cr
Average 20.65x 6.66x 20.25x 4.28% 1.57TCr
Weighted average by Cap. 57.23x 7.17x 15.28x 4.23%

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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