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 1 214,568 161,700 125,082 125,068 116,923 107,204 - -
Change - -24.64% -22.65% -0.01% -6.51% -8.31% - -
Enterprise Value (EV) 1 214,568 275,859 125,082 302,573 312,253 300,354 298,705 293,249
Change - 28.56% -54.66% 141.9% 3.2% -3.81% -0.55% -1.83%
P/E 33.1x 22.6x 17.4x 20.5x 31.5x 26.9x 19.5x 19.9x
PBR 3.12x 2.1x 1.52x 1.44x 1.32x 1.17x 1.09x 1.09x
PEG - 2.2x 54.4x -1.4x -0.8x 3.59x 0.5x -10.41x
Capitalization / Revenue 13.8x 6.79x 4.72x 4.21x 4.12x 3.69x 3.17x 3.08x
EV / Revenue 13.8x 11.6x 4.72x 10.2x 11x 10.3x 8.82x 8.42x
EV / EBITDA 14.6x 16.1x 5.54x 15x 16.7x 12.3x 10.3x 9.43x
EV / EBIT 31.7x 29.9x 13.9x 35.5x 61.5x 49.4x 36.6x 42.9x
EV / FCF -10.2x -25.4x -4.78x -25.3x -28.1x 169x 137x 181x
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% 1.19% 1.44% 1.73%
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 3.750 3.750 3.750
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.($)
26.88x10.33x12.3x1.19% 15.77B
7.9x7.87x10.36x3.92% 14.08B
64.4x7.65x9.94x1.79% 2.67B
21.83x - - - 2.31B
10.66x14.12x15.92x9.4% 907M
9.19x3.94x7.52x - 771M
Average 23.47x 8.78x 11.21x 4.07% 6.09B
Weighted average by Cap. 21.21x 9.06x 11.31x 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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