Company Valuation: China Communications Construction Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 116,054 109,222 103,981 146,733 117,703 84,625 - -
Change - -5.89% -4.8% 41.12% -19.78% -28.1% - -
Enterprise Value (EV) 1 448,387 466,342 505,403 598,082 665,355 482,258 507,232 533,478
Change - 4% 8.38% 18.34% 11.25% -27.52% 5.18% 5.17%
P/E 3.32x 2.91x 2.18x 3.68x 5.33x 3.36x 3.21x 3.13x
PBR 0.21x - 0.17x 0.27x 0.24x 0.16x 0.15x 0.15x
PEG - 0.3x 0.1x -1.07x -0.1x 0.35x 0.69x 1.22x
Capitalization / Revenue 0.17x 0.15x 0.14x 0.19x 0.16x 0.11x 0.11x 0.1x
EV / Revenue 0.66x 0.65x 0.67x 0.78x 0.91x 0.63x 0.64x 0.65x
EV / EBITDA 9.61x 9.9x 9.72x 11.3x 16.7x 10.4x 10.4x 10.5x
EV / EBIT 13x 13.8x 13x 15.2x 24.7x 16.9x 17.1x 17.3x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2037 - 0.2925 0.3017 0.1949 0.1986 0.206 0.2236
Rate of return 5.9% - 9.26% 5.85% 4.25% 6.27% 6.51% 7.07%
EPS 2 1.04 1.14 1.45 1.4 0.86 0.9415 0.9852 1.01
Distribution rate 19.6% - 20.2% 21.6% 22.7% 21.1% 20.9% 22.1%
Net sales 1 682,599 717,473 755,646 768,243 731,109 767,126 792,028 816,823
EBITDA 1 46,680 47,126 52,008 52,706 39,752 46,348 48,849 50,808
EBIT 1 34,539 33,716 38,955 39,307 26,931 28,520 29,590 30,770
Net income 1 18,348 20,065 24,734 23,854 14,751 15,478 15,902 16,156
Net Debt 1 332,333 357,120 401,422 451,349 547,652 397,633 422,607 448,853
Reference price 2 3.454 3.317 3.159 5.159 4.583 3.165 3.165 3.165
Nbr of stocks (in thousands) 16,165,711 16,165,711 16,263,661 16,278,611 16,245,298 16,152,778 - -
Announcement Date 3/30/22 3/30/23 3/28/24 3/27/25 3/30/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
3.36x0.63x10.41x6.27% 12.59B
53.83x2.46x23.54x0.07% 92.72B
13.14x1.11x6.08x4.45% 77.15B
27.07x2.07x20.35x1.12% 58.33B
33.26x4.18x22.68x0.2% 56.77B
53.03x4.25x27.03x1.68% 43.2B
29.52x0.73x12.04x2.1% 37.22B
24.31x0.5x7.85x2.43% 33.61B
23.31x1.59x14.68x0.2% 33.68B
4.56x0.3x6.01x6.17% 27.53B
Average 26.54x 1.78x 15.07x 2.47% 47.28B
Weighted average by Cap. 30.95x 2.05x 16.49x 1.93%

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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