Company Valuation: China Three Gorges Renewables (Group) Co.,Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 214,568 161,700 125,082 125,068 116,923 108,061 - -
Change - -24.64% -22.65% -0.01% -6.51% -7.58% - -
Enterprise Value (EV) 1 214,568 275,859 125,082 302,573 312,253 301,211 299,562 294,106
Change - 28.56% -54.66% 141.9% 3.2% -3.54% -0.55% -1.82%
P/E 33.1x 22.6x 17.4x 20.5x 31.5x 27.1x 19.7x 20.1x
PBR 3.12x 2.1x 1.52x 1.44x 1.32x 1.18x 1.1x 1.1x
PEG - 2.2x 54.4x -1.4x -0.8x 3.62x 0.5x -10.52x
Capitalization / Revenue 13.8x 6.79x 4.72x 4.21x 4.12x 3.72x 3.19x 3.1x
EV / Revenue 13.8x 11.6x 4.72x 10.2x 11x 10.4x 8.84x 8.44x
EV / EBITDA 14.6x 16.1x 5.54x 15x 16.7x 12.3x 10.3x 9.45x
EV / EBIT 31.7x 29.9x 13.9x 35.5x 61.5x 49.5x 36.7x 43x
EV / FCF -10.2x -25.4x -4.78x -25.3x -28.1x 169x 137x 182x
FCF Yield -9.83% -3.93% -20.9% -3.96% -3.56% 0.59% 0.73% 0.55%
Dividend per Share 2 0.0212 0.076 0.078 0.067 0.041 0.0446 0.0538 0.065
Rate of return 0.28% 1.35% 1.78% 1.53% 1% 1.18% 1.42% 1.72%
EPS 2 0.2271 0.2501 0.2509 0.2135 0.1298 0.1395 0.192 0.1884
Distribution rate 9.34% 30.4% 31.1% 31.4% 31.6% 32% 28% 34.5%
Net sales 1 15,500 23,812 26,485 29,717 28,399 29,087 33,872 34,833
EBITDA 1 14,689 17,094 22,575 20,148 18,720 24,410 29,021 31,109
EBIT 1 6,769 9,217 8,991 8,525 5,078 6,085 8,165 6,840
Net income 1 5,634 7,155 7,181 6,111 3,714 4,061 5,825 5,846
Net Debt 1 - 114,159 - 177,505 195,329 193,150 191,501 186,045
Reference price 2 7.510 5.650 4.370 4.370 4.090 3.780 3.780 3.780
Nbr of stocks (in thousands) 28,571,000 28,619,530 28,622,959 28,619,739 28,587,650 28,587,650 - -
Announcement Date 3/10/22 2/7/23 1/19/24 4/29/25 3/31/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.09x10.36x12.34x1.18% 15.89B
8.09x8.13x10.7x3.83% 15.26B
64.5x7.66x9.95x1.78% 2.68B
21.26x - - - 2.25B
10.51x14.04x15.82x9.53% 896M
8.75x3.83x7.32x - 733M
Average 23.37x 8.80x 11.23x 4.08% 6.28B
Weighted average by Cap. 20.96x 9.15x 11.44x 2.61%

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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