Company Valuation: Perennial Energy Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 13,459 2,125 1,005 1,234 1,413 1,653
Change - -84.21% -52.7% 22.85% 14.49% 16.99%
Enterprise Value (EV) 1 13,698 2,470 1,591 2,020 2,423 2,605
Change - -81.97% -35.56% 26.92% 19.98% 7.52%
P/E 39x 7.04x 1.35x 2.45x 3.21x -8.36x
PBR 8.86x 1.2x 0.41x 0.44x 0.45x 0.56x
PEG - -0.6x 0x -0.1x -0.3x 0x
Capitalization / Revenue 9.6x 1.38x 0.56x 0.72x 0.83x 1.37x
EV / Revenue 9.77x 1.6x 0.89x 1.18x 1.42x 2.16x
EV / EBITDA 22.8x 2.92x 1.49x 2.32x 3.25x 9.73x
EV / EBIT 28.1x 3.39x 1.71x 2.85x 4.29x 34.5x
EV / FCF -67.6x -15.4x -6.84x -6.24x -146x 33.6x
FCF Yield -1.48% -6.48% -14.6% -16% -0.68% 2.98%
Dividend per Share 2 0.0316 0.0306 0.1106 0.0454 - -
Rate of return 0.38% 2.3% 17.6% 5.88% - -
EPS 2 0.2159 0.1886 0.465 0.3151 0.2751 -0.1236
Distribution rate 14.6% 16.2% 23.8% 14.4% - -
Net sales 1 1,403 1,541 1,784 1,716 1,706 1,206
EBITDA 1 601.8 845.2 1,067 869.9 746 267.8
EBIT 1 487 728.5 932.2 709.4 564.4 75.55
Net income 1 345.5 301.8 744 504.2 440.2 -197.8
Net Debt 1 239.1 345 586.5 785.2 1,010 951.8
Reference price 2 8.4120 1.3279 0.6280 0.7716 0.8833 1.0334
Nbr of stocks (in thousands) 1,600,000 1,600,000 1,600,000 1,600,000 1,600,000 1,600,000
Announcement Date 4/23/21 4/21/22 4/25/23 4/25/24 4/23/25 4/23/26
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.33x2.6x7.71x5.8% 142B
11.97x1.24x4.47x4.54% 35.63B
8.89x1.66x5.78x5.75% 27.36B
6.84x0.83x3.33x4.79% 25.09B
7.4x1.56x4.79x7.04% 25.59B
14.47x - - - 7.01B
Average 10.48x 1.58x 5.22x 5.58% 43.77B
Weighted average by Cap. 11.51x 2.03x 6.33x 5.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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