Company Valuation: China Railway Construction Corporation Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 98,352 97,497 96,266 116,665 98,249 82,524 - -
Change - -0.87% -1.26% 21.19% -15.78% -16.01% - -
Enterprise Value (EV) 200,871 197,480 262,269 116,665 538,024 82,524 82,524 82,524
Change - -1.69% 32.81% -55.52% 361.17% -84.66% 0% 0%
P/E 4.88x 4.39x 4.4x 6.28x 6.5x 4.31x 4.13x 4.42x
PBR 0.39x 0.46x 0.33x 0.38x 0.31x 0.24x 0.23x 0.22x
PEG - 0.44x -2.58x -0.4x -0.3x 0.2x 0.97x -0.67x
Capitalization / Revenue 0.1x 0.09x 0.08x 0.11x 0.1x 0.08x 0.07x 0.08x
EV / Revenue 0x 0x 0x 0x 0x 0.08x 0.07x 0.08x
EV / EBITDA 0x 0x 0x 0x 0x 1.23x 1.13x 1.05x
EV / EBIT 0x 0x 0x 0x 0x 3.1x 3.01x 2.88x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.246 0.28 0.35 0.3 0.3 0.3918 0.4214 -
Rate of return 3.15% 3.62% 4.6% 3.27% 3.91% 6.12% 6.58% -
EPS 2 1.6 1.76 1.73 1.46 1.18 1.486 1.549 1.447
Distribution rate 15.4% 15.9% 20.2% 20.5% 25.4% 26.4% 27.2% -
Net sales 1 1,020,010 1,096,313 1,137,993 1,067,171 1,029,784 1,076,886 1,107,408 1,096,188
EBITDA 1 51,230 55,779 75,649 74,324 72,961 66,881 72,738 78,878
EBIT 1 34,814 37,402 38,594 32,283 26,779 26,659 27,395 28,667
Net income 1 24,691 26,642 26,097 22,215 18,363 18,135 18,554 19,359
Net Debt 102,519 99,983 166,003 - 439,775 - - -
Reference price 2 7.800 7.730 7.610 9.170 7.670 6.400 6.400 6.400
Nbr of stocks (in thousands) 13,579,542 13,579,542 13,579,542 13,579,542 13,579,542 13,579,542 - -
Announcement Date 3/30/22 3/30/23 3/28/24 3/28/25 3/30/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
65.05x2.81x27.51x0.07% 94.32B
13.08x1.06x5.8x4.48% 71.3B
38.8x4.75x26.33x0.17% 58.83B
25.27x1.93x18.78x1.23% 54.5B
55.39x4.6x29.44x1.64% 45.98B
33.09x0.78x13.13x1.92% 39.23B
27.88x0.54x8.68x2.14% 35.71B
25.4x1.65x15.86x0.19% 33.07B
4.66x0.29x5.75x6.11% 27.62B
Average 32.07x 2.05x 16.81x 2% 51.17B
Weighted average by Cap. 35.91x 2.28x 18.33x 1.75%

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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