Company Valuation: Anhui Expressway Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,783 11,264 16,291 25,539 23,657 27,507 - -
Change - 4.46% 44.63% 56.77% -7.37% 16.28% - -
Enterprise Value (EV) 1 11,485 13,230 18,855 28,934 34,730 36,687 36,866 27,507
Change - 15.19% 42.51% 53.45% 20.03% 5.63% 0.49% -25.39%
P/E 7.76x 8.39x 11x 17.5x 13.3x 13.9x 14.6x 15.1x
PBR 1.03x 1.02x 1.44x 2.2x 1.98x 2.01x 1.91x 1.95x
PEG - -1.84x 0.7x 31.84x 1.2x 1.2x -2.79x -4.93x
Capitalization / Revenue 2.68x 2.16x 2.46x 3.6x 3.52x 3.9x 3.48x 3.6x
EV / Revenue 2.85x 2.54x 2.84x 4.08x 5.17x 5.2x 4.67x 3.6x
EV / EBITDA 3.5x 4.56x 5.56x 9.39x 8.75x 8.02x 8.23x 6.36x
EV / EBIT 4.84x 6.7x 8.29x 13x 12x 11.5x 11.9x 9.39x
EV / FCF - - - - - 135x -47x -38.5x
FCF Yield - - - - - 0.74% -2.13% -2.6%
Dividend per Share 2 0.55 0.55 0.601 0.604 0.66 0.7533 0.7463 -
Rate of return 7.77% 7.52% 5.45% 3.42% 4.45% 4.37% 4.33% -
EPS 2 0.9129 0.8712 1.001 1.006 1.115 1.241 1.176 1.14
Distribution rate 60.2% 63.1% 60.1% 60% 59.2% 60.7% 63.5% -
Net sales 1 4,029 5,206 6,631 7,092 6,722 7,058 7,897 7,644
EBITDA 1 3,281 2,900 3,393 3,081 3,971 4,576 4,477 4,328
EBIT 1 2,371 1,976 2,274 2,221 2,904 3,193 3,109 2,928
Net income 1 1,512 1,445 1,660 1,669 1,877 2,087 1,965 1,949
Net Debt 1 702.7 1,967 2,564 3,395 11,074 9,180 9,359 -
Reference price 2 7.08 7.31 11.02 17.65 14.82 17.22 17.22 17.22
Nbr of stocks (in thousands) 1,658,610 1,658,610 1,658,610 1,658,610 1,708,592 1,708,592 - -
Announcement Date 3/28/22 3/30/23 3/28/24 3/30/25 3/27/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.04x5.24x8.08x4.32% 4.16B
17.87x6.08x10.63x3.04% 37.82B
90x17.09x25.95x5.12% 30.67B
34.23x8.2x16.16x4.39% 11.88B
14.15x6.26x8.67x4.04% 10.5B
25.83x14.25x20.9x3.9% 10.49B
10x4.61x10.38x5.18% 9.42B
14.71x4.67x7.01x2.75% 7.98B
17.48x - - 3.9% 7.81B
14.76x4.52x7.7x2.48% 6.75B
Average 25.31x 7.88x 12.83x 3.91% 13.75B
Weighted average by Cap. 34.69x 9.25x 14.96x 3.95%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Anhui Expressway Company Limited

Historical PBR trend

Valuation ratios - PBR - Anhui Expressway Company Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Anhui Expressway Company Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Anhui Expressway Company Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Anhui Expressway Company Limited
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