Projected Income Statement: PICC Property and Casualty Company Limited

Forecast Balance Sheet: PICC Property and Casualty Company Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -9,356 -13,153 -8,161 1,063 -11,197 13,202 13,680 14,674
Change - -40.58% 37.95% 113.03% -1,153.34% 217.91% 3.62% 7.27%
Announcement Date 3/25/22 3/24/23 3/26/24 3/27/25 3/26/26 - - -
1CNY in Million
Estimates

Cash Flow Forecast: PICC Property and Casualty Company Limited

Fiscal Period: December 2020 2021 2022 2023 2024 2025
CAPEX 1 9,780 2,417 5,563 2,734 3,182 3,442
Change - -75.29% 130.16% -50.85% 16.39% 8.17%
Free Cash Flow (FCF) 1 18,232 24,766 15,642 -118,802 41,606 -303
Change - 35.84% -36.84% -859.5% 135.02% -100.73%
Announcement Date 3/23/21 3/25/22 3/24/23 3/26/24 3/27/25 3/26/26
1CNY in Million
Estimates

Forecast Financial Ratios: PICC Property and Casualty Company Limited

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) - - - - - - - -
EBIT Margin (%) 6.94% 7.5% - 7.29% 9.51% - - -
EBT Margin (%) 6.56% 7.27% - 7.07% 9.32% 8.6% 8.91% 8.88%
Net margin (%) 5.63% 6.28% - 5.98% 7.89% 7.36% 7.67% 7.74%
FCF margin (%) - - - - - - - -
FCF / Net Income (%) - - - - - - - -

Profitability

        
ROA 3.36% 3.72% 3.57% 4.34% 4.93% 4.63% 4.66% 4.56%
ROE 11.45% 12.94% 10.92% 13.15% 14.84% 13.38% 13.33% 12.95%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) - 1.31% - - - - - -
CAPEX / EBITDA (%) - - - - - - - -
CAPEX / FCF (%) - - - - - - - -

Items per share

        
Cash flow per share 1 0.7345 1.92 - - - - - -
Change - 161.43% - - - - - -
Dividend per Share 1 0.461 0.478 0.489 0.54 0.68 0.6949 0.7383 0.7843
Change - 3.69% 2.3% 10.43% 25.93% 2.2% 6.24% 6.23%
Book Value Per Share 1 9.122 9.435 10.4 11.6 12.86 14 14.99 16.2
Change - 3.43% 10.28% 11.45% 10.88% 8.88% 7.05% 8.07%
EPS 1 1.005 1.201 1.105 1.446 1.815 1.801 1.953 2.077
Change - 19.5% -7.99% 30.86% 25.52% -0.76% 8.43% 6.35%
Nbr of stocks (in thousands) 22,242,765 22,242,765 22,242,765 22,242,765 22,242,765 22,242,765 22,242,765 22,242,765
Announcement Date 3/25/22 3/24/23 3/26/24 3/27/25 3/26/26 - - -
1CNY
Estimates
2026 *2027 *
P/E 6.89x 6.35x
PBR 0.89x 0.83x
EV / Sales 0.53x 0.51x
Yield 5.6% 5.95%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
-
Global
-
Quality
-
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
12.40CNY
Average target price
16.46CNY
Spread / Average Target
+32.66%

Quarterly revenue - Rate of surprise

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  4. Financials PICC Property and Casualty Company Limited