Company Valuation: Midea Real Estate Holding Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,188 14,435 6,997 4,047 5,289 2,672 - -
Change - 18.44% -51.53% -42.17% 30.69% -49.47% - -
Enterprise Value (EV) 1 42,449 41,184 27,507 3,648 4,279 1,644 1,517 1,369
Change - -2.98% -33.21% -86.74% 17.3% -61.57% -7.72% -9.75%
P/E 3.25x 7.95x 7.39x -1.96x 9.45x 5.29x 5.56x 5.33x
PBR 0.52x 0.58x 0.28x 0.83x 1.08x 0.53x 0.52x 0.5x
PEG - -0.1x -0.1x 0x -0x -0.54x -1.15x 1.28x
Capitalization / Revenue 0.17x 0.2x 0.1x 1.09x 1.27x 0.73x 0.76x 0.75x
EV / Revenue 0.58x 0.56x 0.37x 0.98x 1.03x 0.45x 0.43x 0.38x
EV / EBITDA 5.09x 5.65x 5.63x - 4.37x 2.21x 2.14x 1.74x
EV / EBIT 5.2x 5.77x 5.78x 4.25x 4.79x 2.04x 1.91x 1.66x
EV / FCF 13.9x 13.8x 8.01x -1.57x 4.52x 2.97x 3.24x 2.82x
FCF Yield 7.18% 7.22% 12.5% -63.7% 22.1% 33.6% 30.9% 35.5%
Dividend per Share 2 1.301 0.6999 0.3326 0.2521 0.2991 0.2777 0.2724 0.2816
Rate of return 13.2% 6.57% 6.82% 8.94% 8.12% 14.9% 14.6% 15.1%
EPS 2 3.04 1.34 0.66 -1.44 0.39 0.352 0.335 0.349
Distribution rate 42.8% 52.2% 50.4% -17.5% 76.7% 78.9% 81.3% 80.7%
Net sales 1 73,703 73,631 73,564 3,726 4,149 3,684 3,538 3,582
EBITDA 1 8,338 7,293 4,889 - 980.2 743 710 788
EBIT 1 8,158 7,140 4,757 857.4 894.2 804.6 796.5 823.4
Net income 1 3,744 1,726 913.6 -2,027 559.3 506 481 500
Net Debt 1 30,261 26,749 20,510 -398.6 -1,009 -1,028 -1,155 -1,303
Reference price 2 9.874 10.650 4.874 2.819 3.684 1.862 1.862 1.862
Nbr of stocks (in thousands) 1,234,362 1,355,412 1,435,411 1,435,411 1,435,411 1,435,411 - -
Announcement Date 3/25/22 3/24/23 3/27/24 3/28/25 3/31/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
4.98x0.4x2x15.86% 377M
64.94x - - - 69.72B
12.56x4.4x11.29x3.83% 39.78B
18.68x4.05x16.29x1.31% 28.81B
14.58x3.16x15.14x2.4% 26.9B
8.07x1.47x8.25x4.39% 26.87B
5.7x0.76x1.57x8.68% 27.72B
8.52x3.02x7.05x-.--% 20.19B
10.26x2.01x7.76x4.09% 20.62B
13.34x6.46x16.98x1.63% 19.11B
Average 16.16x 2.86x 9.59x 4.69% 28.01B
Weighted average by Cap. 24.89x 3.15x 10.54x 3.49%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Midea Real Estate Holding Limited

Historical PBR trend

Valuation ratios - PBR - Midea Real Estate Holding Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Midea Real Estate Holding Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Midea Real Estate Holding Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - Midea Real Estate Holding Limited
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