Company Valuation: China Aviation Oil (Singapore) Corporation Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 599.8 570.9 570.2 576.7 1,110 965.5 - -
Change - -4.8% -0.13% 1.14% 92.5% -13.03% - -
Enterprise Value (EV) 1 198.9 570.9 570.2 576.7 423.1 254.1 170.1 965.5
Change - 187.03% -0.13% 1.14% -26.63% -39.95% -33.06% 467.64%
P/E 14.9x 17x 9.69x 7.36x 10x 10.4x 8.87x 7.71x
PBR 0.67x 0.63x 0.6x 0.58x 1.03x 0.89x 0.85x 0.73x
PEG - -1x 0.1x 0.2x 0.2x -0.6x 0.5x 0.5x
Capitalization / Revenue 0.03x 0.03x 0.04x 0.04x 0.07x 0.06x 0.06x 0.06x
EV / Revenue 0.01x 0.03x 0.04x 0.04x 0.03x 0.02x 0.01x 0.06x
EV / EBITDA 8.47x 19.1x 21.8x 17.9x 7.83x 4.8x 2.2x 14.5x
EV / EBIT 8.81x 28.6x 32.3x 24.7x 8.52x 5.95x 2.48x 15.7x
EV / FCF - -5.04x 7.06x 4.79x 1.99x -1.88x 1.76x 10.7x
FCF Yield - -19.8% 14.2% 20.9% 50.4% -53.2% 57% 9.36%
Dividend per Share 2 0.014 0.0119 0.0201 0.0276 0.0392 0.0287 0.0333 0.043
Rate of return 2.01% 1.79% 3.04% 4.12% 3.04% 2.55% 2.97% 3.83%
EPS 2 0.0469 0.039 0.0684 0.0911 0.1285 0.1078 0.1265 0.1455
Distribution rate 29.9% 30.5% 29.4% 30.3% 30.5% 26.6% 26.3% 29.6%
Net sales 1 17,637 16,464 14,430 15,519 16,440 16,782 16,475 16,366
EBITDA 1 23.48 29.82 26.2 32.24 54.02 52.97 77.2 66.74
EBIT 1 22.57 19.95 17.63 23.36 49.68 42.68 68.58 61.37
Net income 1 40.35 33.53 58.86 78.36 110.5 98.08 114.6 126.8
Net Debt 1 -400.8 - - - -687 -711.4 -795.4 -
Reference price 2 0.697 0.664 0.663 0.670 1.291 1.122 1.122 1.122
Nbr of stocks (in thousands) 860,184 860,184 860,184 860,184 860,184 860,184 - -
Announcement Date 2/25/22 2/28/23 2/29/24 2/27/25 2/26/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.42x0.02x4.8x2.55% 965M
26.75x5.18x10.29x - 206M
Average 18.58x 2.60x 7.54x 2.55% 585.86M
Weighted average by Cap. 13.29x 0.92x 5.76x 2.55%

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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