Company Valuation: PCCW Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 30,511 27,199 32,155 34,964 41,819 40,382 - -
Change - -10.86% 18.22% 8.74% 19.61% -3.43% - -
Enterprise Value (EV) 1 72,770 73,711 81,574 84,595 98,149 103,803 110,562 117,041
Change - 1.29% 10.67% 3.7% 16.02% 5.76% 6.51% 5.86%
P/E 29.4x 173x -68.2x -116x -165x 47.4x 37.3x 34.8x
PBR 3.6x 2.38x 3.84x 4.67x 11.5x -7.45x -4.62x -3.32x
PEG - -2x 0x 3.2x 10.5x -0x 1.4x 4.87x
Capitalization / Revenue 0.79x 0.75x 0.88x 0.93x 1.04x 0.98x 0.95x 0.93x
EV / Revenue 1.88x 2.04x 2.24x 2.25x 2.44x 2.51x 2.61x 2.71x
EV / EBITDA 5.91x 5.95x 6.36x 6.58x 7.39x 7.32x 7.41x 7.54x
EV / EBIT 15.5x 15.8x 16.4x 15.7x 17.7x 16.5x 16.1x 15.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.3705 0.3804 0.3825 0.3825 0.3825 0.4 0.41 0.42
Rate of return 9.38% 10.8% 9.19% 8.46% 7.08% 7.67% 7.86% 8.05%
EPS 2 0.1344 0.0204 -0.061 -0.0388 -0.0327 0.11 0.14 0.15
Distribution rate 276% 1,865% -627% -986% -1,170% 364% 293% 280%
Net sales 1 38,654 36,065 36,347 37,557 40,252 41,386 42,312 43,211
EBITDA 1 12,309 12,388 12,831 12,849 13,290 14,189 14,922 15,526
EBIT 1 4,683 4,655 4,968 5,378 5,560 6,272 6,877 7,396
Net income 1 1,039 158 -471 -300 -253 861.3 1,055 1,178
Net Debt 1 42,259 46,512 49,419 49,631 56,330 63,421 70,180 76,659
Reference price 2 3.950 3.520 4.160 4.520 5.400 5.215 5.215 5.215
Nbr of stocks (in thousands) 7,724,279 7,726,853 7,729,502 7,735,365 7,744,238 7,743,520 - -
Announcement Date 2/24/22 2/24/23 2/23/24 2/21/25 2/10/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
47.64x2.51x7.33x7.63% 5.17B
11.03x1.3x4.12x7.04% 222B
10.44x2.51x6.62x5.96% 197B
12.94x2.11x5.46x4.19% 147B
13.74x1.85x8.09x3.05% 89.58B
11.61x0.88x3.29x6.66% 79B
11.64x1.79x4.52x2.81% 66.61B
14.95x2.66x8.3x5.11% 57.48B
22.89x5.2x18.99x4.78% 54.16B
15.04x2.75x6.15x4.36% 51.43B
Average 17.19x 2.36x 7.29x 5.16% 96.89B
Weighted average by Cap. 12.84x 2.10x 6.36x 5.32%

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

  1. Stock Market
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  3. 8 Stock
  4. Valuation PCCW Limited