Company Valuation: ZTE Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 146,171 114,433 118,615 180,020 170,846 122,860 - -
Change - -21.71% 3.65% 51.77% -5.1% -28.09% - -
Enterprise Value (EV) 1 134,901 103,175 93,210 193,818 191,562 150,995 150,704 147,826
Change - -23.52% -9.66% 107.94% -1.16% -21.18% -0.19% -1.91%
P/E 22.8x 15.1x 13.5x 23x 32.6x 9.44x 19.2x 16.5x
PBR 3.08x 2.09x 1.86x 2.65x 2.4x 1.65x 1.55x 1.45x
PEG - 0.9x 0.9x -2.3x -1x 0x -0.4x 1x
Capitalization / Revenue 1.28x 0.93x 0.95x 1.48x 1.28x 0.81x 0.73x 0.65x
EV / Revenue 1.18x 0.84x 0.75x 1.6x 1.43x 0.99x 0.89x 0.79x
EV / EBITDA 9.31x 7.92x 6.29x 14x 17.6x 17.3x 15.4x 12.2x
EV / EBIT 18.3x 11.9x 9.09x 20.7x 30.1x 18x 19.5x 16.7x
EV / FCF 13.4x 39.3x 6.9x 24.2x 7,437x 34.3x 24.2x 21.2x
FCF Yield 7.44% 2.54% 14.5% 4.13% 0.01% 2.91% 4.13% 4.71%
Dividend per Share 2 0.3 0.4 0.683 0.617 0.411 0.74 0.5353 0.6667
Rate of return 0.9% 1.55% 2.58% 1.53% 1.09% 2.71% 1.96% 2.44%
EPS 2 1.47 1.71 1.96 1.76 1.16 2.89 1.418 1.658
Distribution rate 20.4% 23.4% 34.8% 35.1% 35.4% 25.6% 37.8% 40.2%
Net sales 1 114,522 122,954 124,251 121,299 133,895 152,562 169,103 187,714
EBITDA 1 14,494 13,019 14,827 13,880 10,893 8,727 9,808 12,149
EBIT 1 7,380 8,668 10,258 9,342 6,362 8,402 7,709 8,856
Net income 1 6,813 8,080 9,326 8,425 5,618 5,643 6,496 7,839
Net Debt 1 -11,270 -11,258 -25,405 13,798 20,715 28,135 27,844 24,966
Reference price 2 33.50 25.86 26.48 40.40 37.84 27.27 27.27 27.27
Nbr of stocks (in thousands) 4,726,548 4,736,113 4,783,252 4,783,535 4,783,535 4,754,875 - -
Announcement Date 3/8/22 3/10/23 3/8/24 2/28/25 3/6/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.95x5.82x15.06x1.6% 420B
47.96x16.98x34.04x-.--% 231B
15.71x0.63x11.41x2.88% 142B
21.37x6.68x16.13x0.57% 116B
33.21x6.47x18.75x1.05% 75.95B
38.75x11.64x25.68x-.--% 75.59B
28.3x6.46x21.32x1.45% 55.19B
39.84x2.09x13.33x1.82% 52.31B
59.35x7.68x33.97x-.--% 48.81B
Average 34.49x 7.16x 21.08x 1.04% 135.09B
Weighted average by Cap. 31.79x 7.76x 20.20x 1.15%

Y-o-Y evolution of P/E

Valuation ratios - P/E - ZTE Corporation

Historical PBR trend

Valuation ratios - PBR - ZTE Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - ZTE Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - ZTE Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - ZTE Corporation