Financials China Banking Corporation

Equities

CHIB

PHY138161229

Banks

End-of-day quote Philippines S.E. 18:00:00 2024-04-25 EDT 5-day change 1st Jan Change
38.75 PHP -0.13% Intraday chart for China Banking Corporation +1.97% +25.61%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 72,788 67,282 67,013 69,973 73,876 83,028
Enterprise Value (EV) 1 -31,509 -12,411 3,722 30,511 22,993 41,788
P/E ratio 8.97 x 6.68 x 5.56 x 4.63 x 3.87 x 3.77 x
Yield 3.25% 3.99% 4.01% 3.85% 3.64% -
Capitalization / Revenue 2.56 x 2.11 x 1.92 x 1.76 x 1.58 x 1.57 x
EV / Revenue -1.11 x -0.39 x 0.11 x 0.77 x 0.49 x 0.79 x
EV / EBITDA - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Price to Book 0.83 x 0.7 x 0.64 x 0.59 x 0.55 x 0.55 x
Nbr of stocks (in thousands) 2,685,900 2,685,900 2,685,900 2,691,288 2,691,288 2,691,340
Reference price 2 27.10 25.05 24.95 26.00 27.45 30.85
Announcement Date 19-03-15 20-03-26 21-03-19 22-03-23 23-03-06 24-02-28
1PHP in Million2PHP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 28,443 31,912 34,985 39,798 46,640 52,845
EBITDA - - - - - -
EBIT - - - - - -
Operating Margin - - - - - -
Earnings before Tax (EBT) 1 10,388 11,588 13,463 17,463 22,285 25,808
Net income 1 8,110 10,069 12,063 15,088 19,108 22,011
Net margin 28.51% 31.55% 34.48% 37.91% 40.97% 41.65%
EPS 2 3.020 3.749 4.491 5.614 7.100 8.178
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.8800 1.000 1.000 1.000 1.000 -
Announcement Date 19-03-15 20-03-26 21-03-19 22-03-23 23-03-06 24-02-28
1PHP in Million2PHP
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 104,297 79,693 63,292 39,462 50,883 41,240
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) 9.46% 10.9% 12% 13.5% 15.1% 15.5%
ROA (Net income/ Total Assets) 1% 1.1% 1.21% 1.41% 1.57% 1.57%
Assets 1 808,209 913,616 998,397 1,072,910 1,219,291 1,403,481
Book Value Per Share 2 32.70 35.80 39.10 44.20 50.00 55.80
Cash Flow per Share 2 47.30 46.20 44.10 46.90 49.70 47.80
Capex 1 1,058 874 541 632 2,064 1,566
Capex / Sales 3.72% 2.74% 1.55% 1.59% 4.43% 2.96%
Announcement Date 19-03-15 20-03-26 21-03-19 22-03-23 23-03-06 24-02-28
1PHP in Million2PHP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
38.75 PHP
Average target price
42.9 PHP
Spread / Average Target
+10.71%
Consensus

Annual profits - Rate of surprise

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