Company Valuation: ZTE Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 146,171 114,433 118,615 180,020 170,846 154,830 - -
Change - -21.71% 3.65% 51.77% -5.1% -9.37% - -
Enterprise Value (EV) 1 134,901 103,175 93,210 193,818 191,562 181,832 182,101 180,798
Change - -23.52% -9.66% 107.94% -1.16% -5.08% 0.15% -0.72%
P/E 22.8x 15.1x 13.5x 23x 32.6x 25.7x 21.5x 20.7x
PBR 3.08x 2.09x 1.86x 2.65x 2.4x 2.1x 1.97x 1.87x
PEG - 0.9x 0.9x -2.3x -1x 1.6x 1.1x 5.4x
Capitalization / Revenue 1.28x 0.93x 0.95x 1.48x 1.28x 1.03x 0.94x 0.85x
EV / Revenue 1.18x 0.84x 0.75x 1.6x 1.43x 1.21x 1.1x 1x
EV / EBITDA 9.31x 7.92x 6.29x 14x 17.6x 15.2x 16.1x 14.2x
EV / EBIT 18.3x 11.9x 9.09x 20.7x 30.1x 21x 21.8x 19.4x
EV / FCF 13.4x 39.3x 6.9x 24.2x 7,437x 41.3x 29.3x 26x
FCF Yield 7.44% 2.54% 14.5% 4.13% 0.01% 2.42% 3.42% 3.85%
Dividend per Share 2 0.3 0.4 0.683 0.617 0.411 0.74 0.6774 0.72
Rate of return 0.9% 1.55% 2.58% 1.53% 1.09% 2.13% 1.95% 2.07%
EPS 2 1.47 1.71 1.96 1.76 1.16 1.352 1.616 1.678
Distribution rate 20.4% 23.4% 34.8% 35.1% 35.4% 54.7% 41.9% 42.9%
Net sales 1 114,522 122,954 124,251 121,299 133,895 150,743 165,232 181,238
EBITDA 1 14,494 13,019 14,827 13,880 10,893 11,989 11,342 12,693
EBIT 1 7,380 8,668 10,258 9,342 6,362 8,674 8,366 9,320
Net income 1 6,813 8,080 9,326 8,425 5,618 6,765 8,374 9,298
Net Debt 1 -11,270 -11,258 -25,405 13,798 20,715 27,002 27,271 25,967
Reference price 2 33.50 25.86 26.48 40.40 37.84 34.70 34.70 34.70
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.($)
37.36x7.8x20.16x1.36% 479B
49.72x17.54x35.18x-.--% 238B
22.23x0.92x16.15x2.02% 200B
32.49x10.27x25.3x0.32% 160B
33.91x6.56x18.74x0.99% 77.38B
180.22x23.19x68x-.--% 69.26B
31.06x7.05x23.59x1.33% 59.96B
79.23x9.23x42.6x-.--% 58.38B
38.99x2.05x13.33x1.84% 52.79B
Average 56.13x 9.40x 29.23x 0.87% 154.95B
Weighted average by Cap. 45.18x 9.26x 25.86x 0.98%

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