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 82,558 - -
Change - -5.89% -4.8% 41.12% -19.78% -29.86% - -
Enterprise Value (EV) 1 448,387 466,342 505,403 598,082 665,355 480,190 505,165 531,411
Change - 4% 8.38% 18.34% 11.25% -27.83% 5.2% 5.2%
P/E 3.32x 2.91x 2.18x 3.68x 5.33x 3.2x 3.1x 3.04x
PBR 0.21x - 0.17x 0.27x 0.24x 0.15x 0.15x 0.14x
PEG - 0.3x 0.1x -1.07x -0.1x 0.3x 0.98x 1.49x
Capitalization / Revenue 0.17x 0.15x 0.14x 0.19x 0.16x 0.11x 0.1x 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 10.3x 10.5x
EV / EBIT 13x 13.8x 13x 15.2x 24.7x 14.6x 14.7x 14.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.2037 - 0.2925 0.3017 0.1949 0.1996 0.2015 0.2275
Rate of return 5.9% - 9.26% 5.85% 4.25% 6.56% 6.62% 7.48%
EPS 2 1.04 1.14 1.45 1.4 0.86 0.95 0.98 1
Distribution rate 19.6% - 20.2% 21.6% 22.7% 21% 20.6% 22.8%
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 46,356 48,878 50,843
EBIT 1 34,539 33,716 38,955 39,307 26,931 32,789 34,259 36,026
Net income 1 18,348 20,065 24,734 23,854 14,751 15,467 15,958 16,581
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 3.042 3.042 3.042
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.($)
3.2x0.63x10.36x6.56% 12.28B
53.31x2.44x23.32x0.07% 91.83B
12.27x1.05x5.77x4.76% 71.68B
26.81x2.06x20.21x1.14% 58.09B
32.12x4.03x21.86x0.21% 54.82B
51.32x4.14x26.28x1.73% 41.6B
28.38x0.7x11.56x2.18% 35.6B
23.02x0.47x7.41x2.56% 31.65B
22.42x1.53x14.09x0.21% 32.39B
4.99x0.32x5.8x5.89% 26.56B
Average 25.78x 1.74x 14.67x 2.53% 45.65B
Weighted average by Cap. 30.37x 2.01x 16.22x 1.97%

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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