Company Valuation: China State Construction International Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 48,815 44,180 45,490 61,761 48,121 38,138 - -
Change - -9.49% 2.96% 35.77% -22.09% -20.75% - -
Enterprise Value (EV) 1 97,432 44,180 97,179 118,586 110,080 94,908 97,853 104,441
Change - -54.66% 119.96% 22.03% -7.17% -13.78% 3.1% 6.73%
P/E 7.18x 5.55x 4.96x 6.59x 4.9x 3.75x 3.45x 3.5x
PBR 0.87x 0.76x 0.61x 0.81x 0.53x 0.43x 0.4x 0.37x
PEG - 0.3x 0.3x 3x -39.97x 1.04x 0.4x -2.66x
Capitalization / Revenue 0.63x 0.43x 0.4x 0.54x 0.42x 0.32x 0.3x 0.3x
EV / Revenue 1.26x 0.43x 0.85x 1.03x 0.97x 0.8x 0.76x 0.81x
EV / EBITDA 9.61x 3.6x 6.67x 7.42x 6.84x 5.59x 5.42x 5.64x
EV / EBIT 10x 3.81x 7.09x 7.89x 7.29x 6x 5.81x 6.25x
EV / FCF -78.7x -293x -467x 126x - 14.9x 16.4x 12.1x
FCF Yield -1.27% -0.34% -0.21% 0.79% - 6.73% 6.09% 8.29%
Dividend per Share 2 0.405 0.48 0.56 0.615 0.625 0.7247 0.7278 0.781
Rate of return 4.18% 5.47% 6.2% 5.02% 6.86% 10% 10.1% 10.8%
EPS 2 1.349 1.58 1.82 1.86 1.858 1.925 2.092 2.064
Distribution rate 30% 30.4% 30.8% 33.1% 33.6% 37.6% 34.8% 37.8%
Net sales 1 77,310 101,975 113,734 115,107 113,784 119,208 127,956 128,681
EBITDA 1 10,136 12,271 14,570 15,982 16,096 16,990 18,050 18,524
EBIT 1 9,704 11,584 13,716 15,025 15,100 15,808 16,854 16,709
Net income 1 6,801 7,957 9,164 9,361 9,729 10,258 11,049 10,847
Net Debt 1 48,618 - 51,689 56,825 61,959 56,771 59,716 66,303
Reference price 2 9.690 8.770 9.030 12.260 9.110 7.220 7.220 7.220
Nbr of stocks (in thousands) 5,037,617 5,037,617 5,037,617 5,037,617 5,282,217 5,282,217 - -
Announcement Date 3/25/22 3/21/23 3/21/24 3/21/25 3/26/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
3.75x0.8x5.59x10.04% 4.86B
69.02x2.98x29.09x0.07% 100B
14.12x1.12x6.17x4.15% 77.54B
40.36x5.01x27.82x0.17% 61.2B
26.67x2.03x19.67x1.17% 58.18B
59.33x4.91x31.48x1.46% 49.62B
36.53x0.86x14.53x1.74% 43.03B
30.01x0.58x9.15x2.02% 37.77B
26.53x1.72x16.57x0.18% 34.43B
4.59x0.29x6.23x6.18% 27.27B
Average 31.09x 2.03x 16.63x 2.72% 49.42B
Weighted average by Cap. 37.93x 2.39x 19.31x 1.73%

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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