Company Valuation: ZTE Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 146,171 114,433 118,615 180,020 170,846 136,320 - -
Change - -21.71% 3.65% 51.77% -5.1% -20.21% - -
Enterprise Value (EV) 1 134,901 103,175 93,210 193,818 191,562 164,455 164,164 161,286
Change - -23.52% -9.66% 107.94% -1.16% -14.15% -0.18% -1.75%
P/E 22.8x 15.1x 13.5x 23x 32.6x 25.9x 21.7x 18.5x
PBR 3.08x 2.09x 1.86x 2.65x 2.4x 1.85x 1.74x 1.63x
PEG - 0.9x 0.9x -2.3x -1x 14.79x 1.1x 1.1x
Capitalization / Revenue 1.28x 0.93x 0.95x 1.48x 1.28x 0.89x 0.81x 0.73x
EV / Revenue 1.18x 0.84x 0.75x 1.6x 1.43x 1.08x 0.97x 0.86x
EV / EBITDA 9.31x 7.92x 6.29x 14x 17.6x 18.8x 16.7x 13.3x
EV / EBIT 18.3x 11.9x 9.09x 20.7x 30.1x 26x 21.4x 18.2x
EV / FCF 13.4x 39.3x 6.9x 24.2x 7,437x 37.4x 26.4x 23.2x
FCF Yield 7.44% 2.54% 14.5% 4.13% 0.01% 2.68% 3.79% 4.32%
Dividend per Share 2 0.3 0.4 0.683 0.617 0.411 0.4423 0.5242 0.6378
Rate of return 0.9% 1.55% 2.58% 1.53% 1.09% 1.45% 1.71% 2.09%
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% 37.5% 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 8,727 9,808 12,149
EBIT 1 7,380 8,668 10,258 9,342 6,362 6,337 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 30.58 30.58 30.58
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.74x6.43x16.66x1.44% 465B
56.47x20.23x40.59x-.--% 272B
19.23x0.78x14.05x2.36% 172B
26.15x8.3x20.03x0.47% 142B
52.7x15.78x34.84x-.--% 102B
33.02x6.43x18.65x1.06% 75.51B
76.49x9.88x43.68x-.--% 62.91B
44.77x2.43x15.73x1.58% 60.56B
27.88x6.3x21.01x1.48% 53.85B
Average 40.61x 8.51x 25.03x 0.93% 156.15B
Weighted average by Cap. 37.43x 9.25x 24.06x 1%

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