Company Valuation: PICC Property and Casualty Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,15,428 1,45,793 1,87,363 2,56,252 3,27,002 3,31,907 - -
Change - 26.31% 28.51% 36.77% 27.61% 1.5% - -
Enterprise Value (EV) 1 1,06,072 1,32,640 1,79,202 2,57,315 3,15,805 3,42,686 3,43,483 3,44,049
Change - 25.05% 35.1% 43.59% 22.73% 8.51% 0.23% 0.16%
P/E 5.16x 5.46x 7.62x 7.97x 8.1x 8.55x 7.88x 7.28x
PBR 0.57x 0.69x 0.81x 0.99x 1.14x 1.09x 1.04x 0.98x
PEG - 0.3x -0.95x 0.3x 0.3x -2.22x 0.93x 0.88x
Capitalization / Revenue 0.29x 0.34x - 0.48x 0.64x 0.61x 0.59x 0.56x
EV / Revenue 0.27x 0.31x - 0.48x 0.62x 0.63x 0.61x 0.58x
EV / EBITDA - - - - - - - -
EV / EBIT - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.461 0.478 0.489 0.54 0.68 0.6928 0.7351 0.7966
Rate of return 8.88% 7.29% 5.81% 4.69% 4.63% 4.64% 4.93% 5.34%
EPS 2 1.005 1.201 1.105 1.446 1.815 1.745 1.893 2.051
Distribution rate 45.9% 39.8% 44.3% 37.3% 37.5% 39.7% 38.8% 38.8%
Net sales 1 3,96,997 4,25,480 - 5,38,055 5,11,594 5,41,114 5,64,607 5,90,054
EBITDA - - - - - - - -
EBIT 27,561 31,924 29,186 39,208 48,677 - - -
Net income 1 22,360 26,708 24,585 32,173 40,370 37,498 41,859 45,215
Net Debt 1 -9,356 -13,153 -8,161 1,063 -11,197 10,778 11,576 12,141
Reference price 2 5.19 6.55 8.42 11.52 14.70 14.92 14.92 14.92
Nbr of stocks (in thousands) 2,22,42,765 2,22,42,765 2,22,42,765 2,22,42,765 2,22,42,765 2,22,42,765 - -
Announcement Date 25/03/22 24/03/23 26/03/24 27/03/25 26/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
8.53x0.63x - 4.65% 4.96TCr
12.23x - - 4.25% 13TCr
16.72x2.06x - 2.82% 11TCr
10.91x - - 1.23% 8.1TCr
6.68x - - 1.71% 6.28TCr
11.93x1.17x - 3.36% 4.66TCr
4.5x0.57x - 5.22% 4.48TCr
10.3x - - 0.82% 4.28TCr
12.02x - - 2.44% 4.13TCr
11.56x0.83x - 2.84% 3.99TCr
Average 10.54x 1.05x 2.94% 6TCr
Weighted average by Cap. 11.23x 1.26x 3%

Y-o-Y evolution of P/E

Valuation ratios - P/E - PICC Property and Casualty Company Limited

Historical PBR trend

Valuation ratios - PBR - PICC Property and Casualty Company Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - PICC Property and Casualty Company Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - PICC Property and Casualty Company Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - PICC Property and Casualty Company Limited
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