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 77,176 - -
Change - -0.87% -1.26% 21.19% -15.78% -21.45% - -
Enterprise Value (EV) 200,871 197,480 262,269 116,665 538,024 77,176 77,176 77,176
Change - -1.69% 32.81% -55.52% 361.17% -85.66% 0% 0%
P/E 4.88x 4.39x 4.4x 6.28x 6.5x 4.06x 3.92x 4.52x
PBR 0.39x 0.46x 0.33x 0.38x 0.31x 0.23x 0.22x 0.21x
PEG - 0.44x -2.58x -0.4x -0.3x 0.2x 1.14x -0.3x
Capitalization / Revenue 0.1x 0.09x 0.08x 0.11x 0.1x 0.07x 0.07x 0.07x
EV / Revenue 0x 0x 0x 0x 0x 0.07x 0.07x 0.07x
EV / EBITDA 0x 0x 0x 0x 0x 1.21x 1.12x 1.1x
EV / EBIT 0x 0x 0x 0x 0x 3.07x 3.06x 2.93x
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% 6.52% 7.01% -
EPS 2 1.6 1.76 1.73 1.46 1.18 1.481 1.532 1.33
Distribution rate 15.4% 15.9% 20.2% 20.5% 25.4% 26.5% 27.5% -
Net sales 1 1,020,010 1,096,313 1,137,993 1,067,171 1,029,784 1,075,532 1,102,050 1,071,381
EBITDA 1 51,230 55,779 75,649 74,324 72,961 63,910 68,980 70,473
EBIT 1 34,814 37,402 38,594 32,283 26,779 25,128 25,232 26,350
Net income 1 24,691 26,642 26,097 22,215 18,363 17,404 17,488 18,211
Net Debt 102,519 99,983 166,003 - 439,775 - - -
Reference price 2 7.800 7.730 7.610 9.170 7.670 6.010 6.010 6.010
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.($)
4.06x - - 6.52% 11.44B
60.76x2.76x26.42x0.06% 105B
13.14x1.11x6.09x4.45% 76.61B
35.88x4.52x24.55x0.19% 61.1B
27.33x2.09x20.51x1.11% 58.61B
56.43x4.49x28.4x1.59% 45.7B
30.13x0.74x12.29x2.06% 37.76B
25.17x1.72x15.9x0.18% 36.37B
25.2x0.52x8.15x2.34% 34.62B
4.44x0.3x5.96x6.34% 26.72B
Average 28.26x 2.03x 16.47x 2.48% 49.36B
Weighted average by Cap. 34.10x 2.27x 18.08x 1.84%

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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