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 29,905 - -
Change - 78.03% -18.83% 11.11% -21.93% 6.97% - -
Enterprise Value (EV) 1 61,337 73,426 71,468 90,725 90,801 83,548 78,162 62,507
Change - 19.71% -2.67% 26.95% 0.08% -7.99% -6.45% -20.03%
P/E 5.92x 9.58x 7.76x 10x 6.12x 6.06x 5.67x 5.29x
PBR 0.44x 0.8x 0.32x 0.34x 0.48x 0.47x 0.43x 0.37x
PEG - 1x 44.15x -0.7x 0.2x 0.75x 0.82x 0.74x
Capitalization / Revenue 0.09x 0.16x 0.12x 0.13x 0.09x 0.09x 0.09x 0.08x
EV / Revenue 0.26x 0.29x 0.27x 0.33x 0.3x 0.26x 0.23x 0.17x
EV / EBITDA 4.83x 4.38x 4.65x 5.47x 4.73x 4.05x 3.66x 3.01x
EV / EBIT 6.22x 5.39x 5.98x 6.98x 6.23x 5.04x 4.42x 3.35x
EV / FCF 5.88x 7.47x 5.49x 5.73x 4.37x 47.1x 12.9x 7.47x
FCF Yield 17% 13.4% 18.2% 17.5% 22.9% 2.12% 7.72% 13.4%
Dividend per Share 2 0.15 0.16 0.1669 0.1445 0.2203 0.2061 0.225 0.2821
Rate of return 4.23% 2.53% 3.25% 2.54% 4.95% 4.33% 4.73% 5.93%
EPS 2 0.6 0.66 0.6612 0.5677 0.7268 0.7856 0.8398 0.8998
Distribution rate 25% 24.2% 25.2% 25.5% 30.3% 26.2% 26.8% 31.4%
Net sales 1 236,806 254,106 265,229 275,999 306,131 325,358 342,036 359,370
EBITDA 1 12,690 16,775 15,382 16,601 19,202 20,652 21,344 20,736
EBIT 1 9,868 13,623 11,952 13,005 14,567 16,584 17,694 18,651
Net income 1 3,769 4,147 4,178 3,589 4,594 4,835 5,232 5,645
Net Debt 1 39,035 33,720 39,238 54,915 62,844 53,643 48,258 32,603
Reference price 2 3.550 6.320 5.130 5.700 4.450 4.760 4.760 4.760
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.($)
6.19x0.26x4.08x4.24% 3.89B
35.39x12.58x26.43x0.57% 1,057B
27.79x6.35x17.58x2.07% 624B
33.47x7.59x15.59x2.68% 454B
20.98x4.63x11.4x2.86% 341B
21.62x5.7x13.97x2.82% 297B
21.08x4.45x12.3x1.98% 262B
14.13x5.26x10.83x3.54% 215B
24.37x6.41x11.32x2.71% 201B
-47.14x5.65x31.2x2.52% 162B
Average 15.79x 5.89x 15.47x 2.6% 361.78B
Weighted average by Cap. 24.70x 7.88x 18.51x 1.98%

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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