Company Valuation: Power Construction Corporation of China, Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 122,380 107,234 84,236 94,055 89,576 78,207 - -
Change - -12.38% -21.45% 11.66% -4.76% -12.69% - -
Enterprise Value (EV) 1 374,841 351,998 381,218 443,626 467,610 472,383 471,787 472,694
Change - -6.09% 8.3% 16.37% 5.41% 1.02% -0.13% 0.19%
P/E 16.2x 10.4x 7.16x 8.6x 9.86x 9.27x 8.28x 7.44x
PBR 1.25x 0.92x 0.65x 0.57x 0.53x 0.45x 0.43x 0.41x
PEG - 0.3x -162.96x -1.23x -0.6x -1.29x 0.7x 0.7x
Capitalization / Revenue 272,971x 187,587x 138,446x 148,425x 138,748x - - -
EV / Revenue - - - - - - - -
EV / EBITDA 12.8x 10.1x 9.83x 11.5x 12.1x 10.3x 9.24x 8.55x
EV / EBIT 22.6x 18.5x 18.3x 22.9x 27.1x 16.8x 15.3x 14.4x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.0996 0.1201 0.1365 0.127 0.1055 0.0979 0.1096 0.122
Rate of return 1.23% 1.7% 2.79% 2.33% 2.03% 2.16% 2.41% 2.69%
EPS 2 0.4979 0.6828 0.6825 0.6347 0.5276 0.4896 0.548 0.6102
Distribution rate 20% 17.6% 20% 20% 20% 20% 20% 20%
Net sales 448,325 571,649 608,439 633,685 645,604 - - -
EBITDA 1 29,243 34,815 38,794 38,692 38,497 45,798 51,083 55,283
EBIT 1 16,592 19,055 20,800 19,414 17,267 28,059 30,887 32,895
Net income 1 8,632 11,435 12,988 12,015 10,007 8,435 9,440 10,511
Net Debt 1 252,461 244,764 296,982 349,571 378,034 394,176 393,580 394,487
Reference price 2 8.080 7.080 4.890 5.460 5.200 4.540 4.540 4.540
Nbr of stocks (in thousands) 15,146,035 15,146,035 17,226,159 17,226,159 17,226,159 17,226,159 - -
Announcement Date 4/27/22 4/26/23 4/25/24 4/27/25 4/23/26 - - -
1CNY in Million2CNY
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.27x - 10.31x2.16% 11.65B
56.12x2.59x24.69x0.07% 97.59B
12.25x1.05x5.75x4.77% 70.29B
34.15x4.3x23.32x0.2% 58.29B
26.07x2.01x19.74x1.13% 55.68B
50.74x4.04x25.56x1.91% 39.91B
27.22x0.68x11.26x2.27% 34.06B
23.27x1.59x14.65x0.2% 33.62B
21.79x0.43x6.88x2.79% 29.56B
4.92x0.31x5.78x5.98% 26.22B
Average 26.58x 1.89x 14.79x 2.15% 45.69B
Weighted average by Cap. 31.51x 2.13x 16.73x 1.84%

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

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