Company Valuation: CITIC Telecom International Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,686 9,774 12,136 8,623 9,141 9,548 - -
Change - 0.9% 24.17% -28.95% 6.01% 4.45% - -
Enterprise Value (EV) 1 13,835 12,308 14,684 11,243 10,753 10,013 8,860 7,702
Change - -11.04% 19.31% -23.43% -4.36% -6.88% -11.51% -13.07%
P/E 9.01x 8.2x 9.85x 9.47x 9.92x 9.92x 9.56x 8.9x
PBR 0.96x 0.94x 1.13x 0.8x 0.83x 0.84x 0.82x 0.8x
PEG - 0.8x 3.18x -0.4x 8.13x 2.25x 2.49x 1.2x
Capitalization / Revenue 1.02x 0.97x 1.22x 0.9x 0.96x 0.96x 0.92x 0.88x
EV / Revenue 1.46x 1.22x 1.47x 1.17x 1.12x 1x 0.85x 0.71x
EV / EBITDA 5.51x 4.63x 5.71x 5.62x 5.59x 5.19x 4.46x 3.76x
EV / EBIT 8.52x 6.97x 8.29x 8.97x 8.77x 8.15x 6.88x 5.7x
EV / FCF 7.43x 5.13x 9.35x - - 5.06x 4.3x 3.66x
FCF Yield 13.5% 19.5% 10.7% - - 19.8% 23.3% 27.3%
Dividend per Share 2 0.225 0.245 0.253 0.188 0.19 0.2 0.21 0.22
Rate of return 8.56% 9.25% 7.71% 8.07% 7.69% 7.75% 8.14% 8.53%
EPS 2 0.292 0.323 0.333 0.246 0.249 0.26 0.27 0.29
Distribution rate 77.1% 75.9% 76% 76.4% 76.3% 76.9% 77.8% 75.9%
Net sales 1 9,486 10,111 9,987 9,573 9,567 9,969 10,418 10,878
EBITDA 1 2,509 2,657 2,571 2,001 1,925 1,928 1,986 2,051
EBIT 1 1,624 1,765 1,771 1,254 1,226 1,229 1,287 1,352
Net income 1 1,076 1,191 1,231 910 920 959.6 1,009 1,065
Net Debt 1 4,149 2,534 2,548 2,620 1,612 464.6 -688.2 -1,846
Reference price 2 2.630 2.650 3.280 2.330 2.470 2.580 2.580 2.580
Nbr of stocks (in thousands) 3,683,013 3,688,281 3,700,035 3,700,891 3,700,891 3,700,891 - -
Announcement Date 3/15/22 3/16/23 3/13/24 3/12/25 3/12/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.92x1x5.19x7.75% 1.22B
11.39x1.32x4.09x7.04% 224B
9.11x2.38x6.37x6.47% 182B
13.7x2.13x5.55x4.17% 149B
13.45x2.04x5.15x2.39% 79.13B
12.16x0.82x3.08x6.63% 77.03B
12.03x1.75x7.5x3.57% 75.8B
15.41x2.68x8.39x5.1% 57.37B
23.9x5.38x19.65x4.48% 56.14B
16.05x1.79x5.62x4.78% 50.1B
Average 13.71x 2.13x 7.06x 5.24% 95.21B
Weighted average by Cap. 12.82x 2.05x 6.29x 5.4%

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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