Company Valuation: PetroChina Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 854,682 871,381 1,241,993 1,568,723 1,844,493 2,434,680 - -
Change - 1.95% 42.53% 26.31% 17.58% 32% - -
Enterprise Value (EV) 1 1,157,469 1,124,692 1,377,104 1,633,101 1,865,894 2,451,898 2,397,363 2,320,613
Change - -2.83% 22.44% 18.59% 14.25% 31.41% -2.22% -3.2%
P/E 5.65x 3.85x 5.32x 6.38x 8.76x 8.85x 9.35x 9.38x
PBR 0.41x 0.42x 0.59x 0.67x 0.87x 1.02x 0.98x 0.94x
PEG - 0.1x 0.73x 2.81x -1.97x 0.4x -1.75x -34.35x
Capitalization / Revenue 0.33x 0.27x 0.41x 0.53x 0.64x 0.75x 0.8x 0.81x
EV / Revenue 0.44x 0.35x 0.46x 0.56x 0.65x 0.75x 0.79x 0.77x
EV / EBITDA 3.1x 2.47x 2.85x 3.42x 3.99x 4.74x 4.76x 4.58x
EV / EBIT 6.35x 5.19x 5.85x 6.98x 8.51x 9.07x 9.54x 9.26x
EV / FCF 12.8x 9.41x 7.6x 12.5x 13x 14.4x 15x 13.3x
FCF Yield 7.8% 10.6% 13.2% 8% 7.69% 6.96% 6.66% 7.53%
Dividend per Share 2 0.2266 0.4226 0.44 0.47 0.47 0.5473 0.5137 0.5122
Rate of return 8.02% 13.4% 9.39% 8.19% 6.24% 5.96% 5.6% 5.58%
EPS 2 0.5 0.82 0.88 0.9 0.86 1.037 0.9816 0.9789
Distribution rate 45.3% 51.5% 50% 52.2% 54.7% 52.8% 52.3% 52.3%
Net sales 1 2,614,349 3,239,167 3,011,012 2,937,981 2,864,469 3,256,103 3,032,892 3,004,044
EBITDA 1 373,400 454,696 482,918 477,163 467,366 516,830 503,137 507,177
EBIT 1 182,180 216,660 235,466 233,954 219,241 270,278 251,273 250,584
Net income 1 92,170 149,380 161,146 164,684 157,318 190,293 179,242 179,453
Net Debt 1 302,787 253,311 135,111 64,378 21,401 17,218 -37,317 -114,067
Reference price 2 2.827 3.158 4.684 5.742 7.530 9.180 9.180 9.180
Nbr of stocks (in thousands) 183,020,978 183,020,978 183,020,978 183,020,978 183,020,978 183,020,978 - -
Announcement Date 3/31/22 3/29/23 3/25/24 3/28/25 3/29/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.48x3.45x6.75x5.3% 1,671B
13.29x1.98x6.38x3.03% 462B
8.85x0.75x4.74x5.96% 366B
7.4x0.99x4.18x2.91% 309B
7.68x1.08x4.01x4.35% 212B
6.23x1.89x3.03x7.32% 156B
3.93x1.67x3.12x8.68% 135B
8.29x0.91x2.06x3.24% 116B
8.78x0.89x4.45x4.75% 88.3B
Average 8.66x 1.51x 4.30x 5.06% 390.5B
Weighted average by Cap. 11.11x 2.33x 5.59x 4.94%

Y-o-Y evolution of P/E

Valuation ratios - P/E - PetroChina Company Limited

Historical PBR trend

Valuation ratios - PBR - PetroChina Company Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - PetroChina Company Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - PetroChina Company Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - PetroChina Company Limited
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