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 3,19,448 - -
Change - 26.31% 28.51% 36.77% 27.61% -2.31% - -
Enterprise Value (EV) 1 1,06,072 1,32,640 1,79,202 2,57,315 3,15,805 3,30,226 3,31,024 3,31,589
Change - 25.05% 35.1% 43.59% 22.73% 4.57% 0.24% 0.17%
P/E 5.16x 5.46x 7.62x 7.97x 8.1x 8.42x 7.67x 7.1x
PBR 0.57x 0.69x 0.81x 0.99x 1.14x 1.06x 1x 0.95x
PEG - 0.3x -0.95x 0.3x 0.3x -1.39x 0.79x 0.88x
Capitalization / Revenue 0.29x 0.34x - 0.48x 0.64x 0.59x 0.57x 0.54x
EV / Revenue 0.27x 0.31x - 0.48x 0.62x 0.61x 0.59x 0.56x
EV / EBITDA - - - - - - - -
EV / EBIT - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.461 0.478 0.489 0.54 0.68 0.6925 0.7362 0.7969
Rate of return 8.88% 7.29% 5.81% 4.69% 4.63% 4.82% 5.13% 5.55%
EPS 2 1.005 1.201 1.105 1.446 1.815 1.705 1.871 2.023
Distribution rate 45.9% 39.8% 44.3% 37.3% 37.5% 40.6% 39.3% 39.4%
Net sales 1 3,96,997 4,25,480 - 5,38,055 5,11,594 5,41,072 5,64,750 5,90,431
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 36,620 41,373 44,556
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 14.36 14.36 14.36
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.($)
8.42x0.61x - 4.82% 4.79TCr
12.67x - - 4.11% 14TCr
17.09x2.1x - 2.76% 11TCr
11.13x - - 1.2% 8.26TCr
6.95x - - 1.62% 6.62TCr
11.96x1.22x - 3.23% 4.79TCr
4.52x0.55x - 5.37% 4.36TCr
10.44x - - 0.81% 4.34TCr
12.57x - - 2.35% 4.3TCr
11.89x0.85x - 2.76% 4.05TCr
Average 10.77x 1.07x 2.9% 7TCr
Weighted average by Cap. 11.52x 1.29x 2.93%

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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