Company Valuation: Ceepower Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 3,259 3,468 3,150 3,474 3,279 5,247
Change - 6.43% -9.16% 10.27% -5.62% 60.05%
Enterprise Value (EV) 1 3,557 3,810 3,110 3,506 3,246 4,892
Change - 7.12% -18.38% 12.75% -7.42% 50.71%
P/E 265x 161x 76.1x 69.2x -42x -49x
PBR 4.09x 4.27x 2.54x 2.62x 2.64x 3.41x
PEG - 2.1x 1.1x 3.2x 0x -2.3x
Capitalization / Revenue 3.43x 3.37x 2.4x 2.09x 2.86x 4.53x
EV / Revenue 3.74x 3.7x 2.37x 2.11x 2.83x 4.23x
EV / EBITDA 34.9x 40.5x 32.4x 33.1x -91.8x -164x
EV / EBIT 57.1x 70.2x 54.9x 51x -44.7x -72x
EV / FCF -42x -45x -79x -150x 170x -203x
FCF Yield -2.38% -2.22% -1.27% -0.67% 0.59% -0.49%
Dividend per Share 2 0.0125 0.0063 0.01 0.02 - -
Rate of return 0.19% 0.09% 0.18% 0.32% - -
EPS 2 0.025 0.0438 0.0742 0.09 -0.14 -0.17
Distribution rate 50% 14.4% 13.5% 22.2% - -
Net sales 1 950 1,030 1,312 1,660 1,148 1,157
EBITDA 1 102 93.99 95.93 105.9 -35.37 -29.85
EBIT 1 62.26 54.26 56.6 68.75 -72.65 -67.96
Net income 1 13.68 22.63 41.11 52.2 -77.53 -93.46
Net Debt 1 298.3 342 -40.68 32.4 -32.51 -355.2
Reference price 2 6.612 7.038 5.650 6.230 5.880 8.330
Nbr of stocks (in thousands) 492,800 492,800 557,577 557,577 557,587 629,937
Announcement Date 4/27/21 4/22/22 4/4/23 4/25/24 4/28/25 4/24/26
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 505M
26.21x4.61x21.19x1.19% 178B
142.72x16.31x79.86x-.--% 61.14B
115.03x2.64x27.86x-.--% 30.02B
55.57x4.63x35.65x0.44% 19B
33.28x3.77x22.37x0.42% 17.46B
91.38x10.73x72.73x0.59% 16.53B
87.84x8.87x62.36x0.23% 14.8B
31.7x0.61x11.57x0.79% 13.04B
92.57x18.01x67.99x0.21% 11.67B
Average 75.15x 7.80x 44.62x 0.43% 36.24B
Weighted average by Cap. 62.98x 7.12x 37.67x 0.7%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Ceepower Co., Ltd.