Company Valuation: Bank of China Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 856,824 834,257 876,091 1,067,151 1,473,279 1,609,800 1,609,800 -
Change - -2.63% 5.01% 21.81% 38.06% 9.27% 0% -
Enterprise Value (EV) 856,824 834,257 876,091 1,067,151 1,473,279 1,609,800 1,609,800 1,609,800
Change - -2.63% 5.01% 21.81% 38.06% 9.27% 0% 0%
P/E ratio 3.66x 3.27x 3.44x 3.66x 4.97x 5.4x 5.37x 5.27x
PBR 0.37x 0.35x 0.36x 0.36x 0.46x 0.48x 0.45x 0.43x
PEG - 0.2x 0.8x 2.67x 3.68x -2.29x 7.73x 2.82x
Capitalization / Revenue 1.51x 1.38x 1.42x 1.71x 2.33x 2.53x 2.43x 2.3x
EV / Revenue 0x 0x 0x 0x 0x 2.53x 2.43x 2.3x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.03x 3.87x 3.62x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.197 0.221 0.232 0.2364 0.2424 0.2224 0.2293 0.2331
Rate of return 8.83% 9.65% 9.24% 8.74% 6.5% 5.62% 5.79% 5.89%
EPS 2 0.61 0.7 0.73 0.74 0.75 0.7323 0.7374 0.7512
Distribution rate 32.3% 31.6% 31.8% 31.9% 32.3% 30.4% 31.1% 31%
Net sales 1 567,647 605,717 619,139 624,138 632,771 636,795 663,091 699,463
EBITDA - - - - - - - -
EBIT 1 365,236 379,362 387,943 401,205 397,001 399,505 415,484 444,740
Net income 1 192,870 216,559 227,439 231,904 237,841 232,613 238,361 243,316
Net Debt - - - - - - - -
Reference price 2 2.231 2.289 2.512 2.705 3.731 3.958 3.958 3.958
Nbr of stocks (in thousands) 294,385,451 294,384,261 294,387,791 294,387,791 294,387,791 322,212,412 322,212,412 -
Announcement Date 3/30/21 3/29/22 3/30/23 3/28/24 3/26/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
5.39x - - 5.64% 233B
13.27x - - 2.21% 779B
5.53x - - 5.62% 346B
11.2x - - 2.48% 348B
11.1x - - 4.75% 295B
5.4x - - 5.53% 271B
11.2x - - 2.4% 242B
14.37x - - 2.99% 231B
26.39x - - 2.95% 205B
13.92x - - 2.77% 195B
Average 11.78x 3.73% 314.44B
Weighted average by Cap. 11.54x 3.55%

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

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