Company Valuation: Beijing Capital International Airport Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,795 23,129 9,519 12,049 11,357 6,596 - -
Change - 29.98% -58.85% 26.58% -5.74% -41.92% - -
Enterprise Value (EV) 1 23,520 31,314 19,070 22,295 20,993 14,778 13,457 12,499
Change - 33.13% -39.1% 16.91% -5.84% -29.61% -8.94% -7.12%
P/E -8.45x -6.56x -5.62x -8.77x -17.7x 103x 17.4x 16.7x
PBR 0.88x 1.39x 0.64x 0.9x 0.88x 0.51x 0.49x 0.49x
PEG - -0.1x 0.1x 0.5x 0.3x -1x 0x 3.97x
Capitalization / Revenue 5.32x 10.4x 2.09x 2.19x 2.02x 1.09x 1x 0.95x
EV / Revenue 7.03x 14x 4.18x 4.06x 3.73x 2.45x 2.04x 1.8x
EV / EBITDA -20x -15.6x 97.8x 19.5x 15x 7.92x 5.89x 5x
EV / EBIT -8.56x -8.56x -13.5x -64.2x -89.1x 47.9x 18.1x 13.1x
EV / FCF -16.8x -15.8x -22.5x -71.6x 19.9x 32x 9.03x 9.2x
FCF Yield -5.96% -6.33% -4.44% -1.4% 5.02% 3.13% 11.1% 10.9%
Dividend per Share 2 - - - - - - 0.0135 -
Rate of return - - - - - - 0.94% -
EPS 2 -0.46 -0.77 -0.37 -0.3 -0.14 0.014 0.0828 0.0863
Distribution rate - - - - - - 16.3% -
Net sales 1 3,345 2,231 4,559 5,492 5,632 6,042 6,610 6,962
EBITDA 1 -1,174 -2,004 195.1 1,145 1,401 1,867 2,283 2,500
EBIT 1 -2,747 -3,658 -1,413 -347.1 -235.7 308.8 742.3 956.8
Net income 1 -2,117 -3,527 -1,697 -1,390 -630 75.74 441.6 410.4
Net Debt 1 5,726 8,185 9,551 10,247 9,635 8,181 6,860 5,903
Reference price 2 3.886 5.051 2.079 2.631 2.480 1.441 1.441 1.441
Nbr of stocks (in thousands) 4,579,179 4,579,179 4,579,179 4,579,179 4,579,179 4,579,179 - -
Announcement Date 3/24/22 3/30/23 3/27/24 3/27/25 3/26/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
100.8x2.42x7.83x-.--% 958M
49.14x14.42x25.38x1.15% 29.31B
19.85x3.15x9.84x1.59% 6.8B
22.53x4.36x11.02x3.18% 5.15B
13.28x5.52x8.5x5.81% 4.94B
140.5x - - 0.36% 4.78B
16.29x6.03x9.98x6.14% 3.94B
25.89x2.51x9.92x6% 3.17B
25.45x1.41x4.89x1.96% 2.83B
Average 45.97x 4.98x 10.92x 2.91% 6.88B
Weighted average by Cap. 44.33x 9.31x 17.54x 2.27%

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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