Company Valuation: CNOOC Energy Technology & Services Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 24,295 29,784 29,276 28,971 43,405 48,793 48,793 -
Change - 22.59% -1.71% -1.04% 49.82% 12.41% 0% -
Enterprise Value (EV) 24,295 29,784 29,276 28,971 43,405 48,793 48,793 48,793
Change - 22.59% -1.71% -1.04% 49.82% 12.41% 0% 0%
P/E ratio 16x 23.2x 12.1x 9.4x 11.9x 11.7x 10.3x 9.23x
PBR 1.25x 1.47x 1.31x 1.18x 1.6x 1.63x 1.47x 1.33x
PEG - -1.5x 0.1x 0.3x 0.6x 0.8x 0.8x 0.8x
Capitalization / Revenue 0.73x 0.77x 0.61x 0.59x 0.83x 0.86x 0.8x 0.78x
EV / Revenue 0x 0x 0x 0x 0x 0.86x 0.8x 0.78x
EV / EBITDA 0x 0x 0x 0x 0x 6.86x 6.25x 5.63x
EV / EBIT 0x 0x 0x 0x 0x 9.08x 8.07x 7.19x
EV / FCF - - - - 0x 30.1x 12.2x 10.4x
FCF Yield - - - - 7.73% 3.32% 8.19% 9.6%
Dividend per Share 2 0.045 0.055 0.085 0.11 0.135 0.1533 0.1767 0.19
Rate of return 1.88% 1.88% 2.95% 3.86% 3.16% 3.19% 3.68% 3.96%
EPS 2 0.1497 0.1263 0.2377 0.3031 0.3597 0.41 0.465 0.52
Distribution rate 30.1% 43.5% 35.8% 36.3% 37.5% 37.4% 38% 36.5%
Net sales 1 33,208 38,739 47,784 49,308 52,517 56,550 60,735 62,944
EBITDA 1 3,892 4,003 4,957 5,457 7,384 7,111 7,809 8,671
EBIT 1 2,065 1,934 2,998 3,860 5,010 5,373 6,045 6,786
Net income 1 1,522 1,284 2,416 3,081 3,656 4,154 4,740 5,328
Net Debt - - - - - - - -
Reference price 2 2.390 2.930 2.880 2.850 4.270 4.800 4.800 4.800
Nbr of stocks (in thousands) 10,165,104 10,165,104 10,165,104 10,165,104 10,165,104 10,165,104 10,165,104 -
Announcement Date 4/19/21 4/18/22 4/10/23 4/15/24 4/9/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.66x - - 3.21% 7.07B
16.68x2.12x8.98x2.46% 72.22B
23.18x2.12x11.96x1.62% 58.64B
16.01x1.58x8.6x1.96% 29.6B
22.3x2.34x11.77x0.31% 25.96B
20.31x0.47x4.21x4.56% 7.73B
18.73x0.79x6.91x2.14% 6.79B
16.72x1.43x6.54x1.3% 6.63B
8.27x1.43x5.35x2.97% 6.58B
19.21x5.51x9.56x2.53% 6.32B
Average 17.31x 1.98x 8.21x 2.3% 22.75B
Weighted average by Cap. 18.76x 2.03x 9.65x 2%

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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