Company Valuation: ZTE Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 146,171 114,433 118,615 180,020 170,846 128,638 - -
Change - -21.71% 3.65% 51.77% -5.1% -24.71% - -
Enterprise Value (EV) 1 134,901 103,175 93,210 193,818 191,562 152,181 156,482 153,604
Change - -23.52% -9.66% 107.94% -1.16% -20.56% 2.83% -1.84%
P/E 22.8x 15.1x 13.5x 23x 32.6x 25.3x 20.5x 17.3x
PBR 3.08x 2.09x 1.86x 2.65x 2.4x 1.75x 1.64x 1.54x
PEG - 0.9x 0.9x -2.3x -1x -15.55x 0.9x 0.9x
Capitalization / Revenue 1.28x 0.93x 0.95x 1.48x 1.28x 0.83x 0.76x 0.67x
EV / Revenue 1.18x 0.84x 0.75x 1.6x 1.43x 0.98x 0.92x 0.79x
EV / EBITDA 9.31x 7.92x 6.29x 14x 17.6x 18.8x 12.7x 12.8x
EV / EBIT 18.3x 11.9x 9.09x 20.7x 30.1x 24.2x 20x 17.1x
EV / FCF 13.4x 39.3x 6.9x 24.2x 7,437x 87.8x 17.5x 15x
FCF Yield 7.44% 2.54% 14.5% 4.13% 0.01% 1.14% 5.71% 6.67%
Dividend per Share 2 0.3 0.4 0.683 0.617 0.411 0.74 0.5262 0.6412
Rate of return 0.9% 1.55% 2.58% 1.53% 1.09% 2.56% 1.82% 2.22%
EPS 2 1.47 1.71 1.96 1.76 1.16 1.141 1.406 1.663
Distribution rate 20.4% 23.4% 34.8% 35.1% 35.4% 64.8% 37.4% 38.6%
Net sales 1 114,522 122,954 124,251 121,299 133,895 155,064 169,387 193,373
EBITDA 1 14,494 13,019 14,827 13,880 10,893 8,092 12,283 12,034
EBIT 1 7,380 8,668 10,258 9,342 6,362 6,285 7,824 8,981
Net income 1 6,813 8,080 9,326 8,425 5,618 6,491 6,486 7,993
Net Debt 1 -11,270 -11,258 -25,405 13,798 20,715 23,543 27,844 24,966
Reference price 2 33.50 25.86 26.48 40.40 37.84 28.85 28.85 28.85
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.($)
25.03x1x19.2x1.45% 19.06B
25.24x5.65x14.64x1.64% 408B
42x16.35x32.48x-.--% 225B
14.84x0.6x10.26x3.09% 134B
18.16x5.58x13.38x0.73% 94.43B
35.96x6.95x20.17x0.97% 82.25B
30.19x8.32x19.46x-.--% 56.84B
26.81x6.59x21.01x1.43% 55.72B
17.35x2.77x11.56x4.1% 48.28B
40.51x1.87x11.82x2.04% 47.01B
Average 27.61x 5.57x 17.40x 1.54% 117.15B
Weighted average by Cap. 28.05x 7.04x 18.23x 1.4%

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
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