Company Valuation: China Resources Pharmaceutical Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,303 39,705 32,229 35,810 27,957 26,638 - -
Change - 78.03% -18.83% 11.11% -21.93% -4.72% - -
Enterprise Value (EV) 1 61,337 73,426 71,468 90,725 90,801 79,990 74,597 59,240
Change - 19.71% -2.67% 26.95% 0.08% -11.91% -6.74% -20.59%
P/E 5.92x 9.58x 7.76x 10x 6.12x 5.41x 5.06x 4.71x
PBR 0.44x 0.8x 0.32x 0.34x 0.48x 0.42x 0.39x 0.33x
PEG - 1x 44.15x -0.7x 0.2x 0.69x 0.73x 0.64x
Capitalization / Revenue 0.09x 0.16x 0.12x 0.13x 0.09x 0.08x 0.08x 0.07x
EV / Revenue 0.26x 0.29x 0.27x 0.33x 0.3x 0.25x 0.22x 0.16x
EV / EBITDA 4.83x 4.38x 4.65x 5.47x 4.73x 3.88x 3.5x 2.86x
EV / EBIT 6.22x 5.39x 5.98x 6.98x 6.23x 4.84x 4.23x 3.18x
EV / FCF 5.88x 7.47x 5.49x 5.73x 4.37x 45.1x 12.4x 7.08x
FCF Yield 17% 13.4% 18.2% 17.5% 22.9% 2.22% 8.09% 14.1%
Dividend per Share 2 0.15 0.16 0.1669 0.1445 0.2203 0.2054 0.2241 0.2821
Rate of return 4.23% 2.53% 3.25% 2.54% 4.95% 4.84% 5.29% 6.65%
EPS 2 0.6 0.66 0.6612 0.5677 0.7268 0.7839 0.8381 0.8998
Distribution rate 25% 24.2% 25.2% 25.5% 30.3% 26.2% 26.7% 31.4%
Net sales 1 236,806 254,106 265,229 275,999 306,131 324,714 341,354 359,370
EBITDA 1 12,690 16,775 15,382 16,601 19,202 20,599 21,289 20,736
EBIT 1 9,868 13,623 11,952 13,005 14,567 16,541 17,648 18,651
Net income 1 3,769 4,147 4,178 3,589 4,594 4,826 5,222 5,645
Net Debt 1 39,035 33,720 39,238 54,915 62,844 53,352 47,959 32,603
Reference price 2 3.550 6.320 5.130 5.700 4.450 4.240 4.240 4.240
Nbr of stocks (in thousands) 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 - -
Announcement Date 3/29/22 3/30/23 3/26/24 3/26/25 3/24/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
5.41x0.25x3.88x4.84% 3.4B
34.84x12.66x25.79x0.57% 1,063B
27.14x6.24x16.98x2.1% 611B
30.97x7.43x15.19x2.76% 444B
17.52x4.36x10.71x3.05% 324B
22.92x4.81x13.47x1.81% 285B
21.57x5.54x13.39x2.85% 283B
14.31x5.31x10.9x3.5% 219B
23.55x6.27x11.03x2.79% 195B
-44.98x5.45x30.27x2.58% 156B
Average 15.32x 5.83x 15.16x 2.68% 358.41B
Weighted average by Cap. 24.10x 7.86x 18.11x 2%

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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