Company Valuation: CSPC Pharmaceutical Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 100,932 97,707 86,022 55,169 96,380 97,066 - -
Change - -3.19% -11.96% -35.87% 74.7% 0.71% - -
Enterprise Value (EV) 1 89,633 86,241 72,284 46,931 86,710 86,352 83,230 79,648
Change - -3.79% -16.18% -35.07% 84.76% -0.41% -3.62% -4.3%
P/E 14.7x 14.1x 13.5x 12.1x 21.8x 11.8x 13.7x 12.6x
PBR 3.17x 2.86x 2.39x 1.62x 2.56x 2.26x 2.06x 1.88x
PEG - 14.13x -1.73x -0.5x -9.88x 0.1x -1x 1.43x
Capitalization / Revenue 2.94x 2.77x 2.52x 1.78x 3.26x 2.72x 2.76x 2.59x
EV / Revenue 2.61x 2.44x 2.12x 1.51x 2.94x 2.42x 2.37x 2.12x
EV / EBITDA 9.5x 9.43x 8.39x 6.22x 12.1x 6.76x 8.38x 7.56x
EV / EBIT 10.7x 10.8x 9.77x 7.68x 15.6x 9.36x 10.8x 9.73x
EV / FCF 23.7x 14.1x 26.2x 17.5x 19.5x 11.7x 11.9x 8.5x
FCF Yield 4.22% 7.11% 3.82% 5.71% 5.12% 8.53% 8.39% 11.8%
Dividend per Share 2 0.18 0.21 0.28 0.26 0.29 0.3699 0.3697 0.3846
Rate of return 2.13% 2.56% 3.86% 5.44% 3.44% 4.36% 4.35% 4.53%
EPS 2 0.5773 0.5831 0.5376 0.3946 0.3859 0.7189 0.6181 0.6728
Distribution rate 31.2% 36% 52.1% 65.9% 75.2% 51.5% 59.8% 57.2%
Net sales 1 34,309 35,292 34,175 31,046 29,533 35,695 35,174 37,539
EBITDA 1 9,431 9,148 8,615 7,547 7,168 12,781 9,929 10,529
EBIT 1 8,366 7,952 7,400 6,113 5,564 9,230 7,705 8,187
Net income 1 6,901 6,949 6,382 4,632 4,409 7,935 6,932 7,547
Net Debt 1 -11,298 -11,467 -13,738 -8,238 -9,670 -10,714 -13,837 -17,419
Reference price 2 8.470 8.200 7.260 4.780 8.430 8.490 8.490 8.490
Nbr of stocks (in thousands) 11,916,370 11,915,520 11,848,756 11,541,665 11,433,025 11,433,025 - -
Announcement Date 3/22/22 3/22/23 3/20/24 3/28/25 3/25/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.65x2.37x6.69x4.38% 12.1B
35.56x12.7x26.67x0.56% 1,068B
28.51x6.52x18.04x2.02% 641B
32.33x7.59x15.6x2.68% 454B
19.49x4.75x11.79x2.78% 351B
22.29x5.76x14.37x2.78% 299B
21.47x4.5x12.72x1.93% 266B
14.4x5.35x11.02x3.48% 220B
24.71x6.49x11.44x2.68% 203B
-47.03x5.64x31.15x2.53% 162B
Average 16.34x 6.17x 15.95x 2.58% 367.54B
Weighted average by Cap. 24.72x 7.95x 18.72x 1.96%

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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