Company Valuation: China State Construction Development Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 3,449 3,947 5,188 4,060 2,684 1,691 -
Change - 14.45% 31.43% -21.74% -33.9% -36.99% -
Enterprise Value (EV) 1 3,795 4,298 5,663 4,658 3,279 2,283 2,315
Change - 13.27% 31.75% -17.74% -29.62% -30.37% 1.4%
P/E 11.8x 9.16x 8.94x 6.24x 11.3x 6.25x 4.69x
PBR 2.06x 1.89x 2.16x 1.52x 0.95x 0.58x 0.55x
PEG - 0.2x 0.3x 0.5x -0.2x 0.4x 0.1x
Capitalization / Revenue 0.55x 0.51x 0.6x 0.5x 0.45x 0.25x 0.24x
EV / Revenue 0.6x 0.56x 0.65x 0.57x 0.55x 0.34x 0.33x
EV / EBITDA 8.98x 7.68x 7.58x 4.75x 6.86x 4.19x 3.47x
EV / EBIT 9.42x 8.05x 7.73x 5.83x 9.95x 5.98x 4.6x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 0.047 0.065 0.087 0.098 0.06 0.06 0.09
Rate of return 2.94% 3.71% 3.78% 5.44% 5.04% 8% 12%
EPS 2 0.1355 0.1911 0.2573 0.2883 0.1052 0.12 0.16
Distribution rate 34.7% 34% 33.8% 34% 57% 50% 56.3%
Net sales 1 6,295 7,669 8,666 8,102 5,975 6,767 7,034
EBITDA 1 422.5 559.9 747.4 980 478.2 545 668
EBIT 1 402.9 533.9 732.2 799 329.5 382 503
Net income 1 292 421.9 580.4 650.3 237.3 262 370
Net Debt 1 345.6 351 475 598.4 595.3 592 624
Reference price 2 1.6000 1.7500 2.3000 1.8000 1.1900 0.7500 0.7500
Nbr of stocks (in thousands) 2,155,545 2,255,545 2,255,545 2,255,545 2,255,045 2,254,641 -
Announcement Date 3/23/22 3/20/23 3/18/24 3/17/25 3/20/26 - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.08x0.33x4.11x8.22% 210M
72.49x3.12x30.49x0.06% 105B
14.25x1.17x6.41x4.11% 80.81B
45.3x5.64x31.31x0.15% 68.69B
27.7x2.09x20.31x1.1% 61.04B
60.38x5.03x32.19x1.4% 50.62B
37.22x0.88x14.86x1.7% 43.54B
31.23x0.63x10.02x1.93% 39.13B
29.01x1.89x18.21x0.17% 37.65B
4.59x0.29x6.23x6.18% 27.2B
Average 32.82x 2.11x 17.41x 2.5% 51.42B
Weighted average by Cap. 40.27x 2.60x 20.70x 1.58%

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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