Company Valuation: ZTE Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 146,171 114,433 118,615 180,020 170,846 123,675 - -
Change - -21.71% 3.65% 51.77% -5.1% -27.61% - -
Enterprise Value (EV) 1 134,901 103,175 93,210 193,818 191,562 151,810 151,519 148,641
Change - -23.52% -9.66% 107.94% -1.16% -20.75% -0.19% -1.9%
P/E 22.8x 15.1x 13.5x 23x 32.6x 23.5x 19.6x 16.7x
PBR 3.08x 2.09x 1.86x 2.65x 2.4x 1.68x 1.58x 1.48x
PEG - 0.9x 0.9x -2.3x -1x 13.42x 1x 1x
Capitalization / Revenue 1.28x 0.93x 0.95x 1.48x 1.28x 0.81x 0.73x 0.66x
EV / Revenue 1.18x 0.84x 0.75x 1.6x 1.43x 1x 0.9x 0.79x
EV / EBITDA 9.31x 7.92x 6.29x 14x 17.6x 14.1x 15.4x 12.2x
EV / EBIT 18.3x 11.9x 9.09x 20.7x 30.1x 18.1x 19.8x 16.8x
EV / FCF 13.4x 39.3x 6.9x 24.2x 7,437x 34.5x 24.4x 21.4x
FCF Yield 7.44% 2.54% 14.5% 4.13% 0.01% 2.9% 4.11% 4.68%
Dividend per Share 2 0.3 0.4 0.683 0.617 0.411 0.74 0.5242 0.6378
Rate of return 0.9% 1.55% 2.58% 1.53% 1.09% 2.67% 1.89% 2.3%
EPS 2 1.47 1.71 1.96 1.76 1.16 1.18 1.412 1.655
Distribution rate 20.4% 23.4% 34.8% 35.1% 35.4% 62.7% 37.1% 38.5%
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 10,744 9,808 12,149
EBIT 1 7,380 8,668 10,258 9,342 6,362 8,402 7,660 8,859
Net income 1 6,813 8,080 9,326 8,425 5,618 5,656 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 27.69 27.69 27.69
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.($)
23.74x1x14.26x2.64% 18.68B
28.04x6.28x16.26x1.48% 454B
53.63x19.13x38.35x-.--% 258B
17.21x0.69x12.59x2.63% 155B
23.78x7.47x18.04x0.52% 129B
45.94x13.85x30.57x-.--% 89.49B
32.49x6.34x18.38x1.08% 74.31B
69.04x8.92x39.46x-.--% 56.78B
40.53x2.2x14.19x1.74% 54.71B
27.6x6.23x20.79x1.5% 53.31B
Average 36.20x 7.21x 22.29x 1.16% 134.26B
Weighted average by Cap. 34.90x 8.59x 22.37x 1.08%

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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