Market Closed -
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5-day change | 1st Jan Change | |
4.460 HKD | -1.33% | -2.19% | -8.79% |
Nov. 30 | BoCom Recognized as Global Systemically Important Bank | MT |
Nov. 27 | Indices: Focus on tech, Brazil and China | ![]() |
Valuation
Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
---|---|---|---|---|---|---|---|---|
Capitalization 1 | 1 424 850 | 1 515 310 | 1 252 050 | 1 114 060 | 1 092 231 | 1 040 718 | - | - |
Enterprise Value (EV) 1 | 1 424 850 | 1 515 310 | 1 252 050 | 1 114 060 | 1 092 231 | 1 040 718 | 1 040 718 | 1 040 718 |
P/E ratio | 5,67x | 5,73x | 4,68x | 3,70x | 3,37x | 3,09x | 2,97x | 2,82x |
Yield | 5,39% | 5,32% | 6,58% | 8,27% | 9,01% | 9,73% | 10,2% | 10,7% |
Capitalization / Revenue | 2,16x | 2,15x | 1,66x | 1,46x | 1,44x | 1,31x | 1,24x | 1,16x |
EV / Revenue | 2,16x | 2,15x | 1,66x | 1,46x | 1,44x | 1,31x | 1,24x | 1,16x |
EV / EBITDA | - | - | - | - | - | - | - | - |
EV / FCF | - | - | - | - | - | - | - | - |
FCF Yield | - | - | - | - | - | - | - | - |
Price to Book | 0,72x | 0,68x | 0,55x | 0,44x | 0,40x | 0,34x | 0,31x | 0,29x |
Nbr of stocks (in thousands) | 250 010 977 | 250 010 977 | 250 010 977 | 250 010 977 | 250 010 977 | 250 010 977 | - | - |
Reference price 2 | 5,67 | 6,01 | 4,96 | 4,40 | 4,32 | 4,07 | 4,07 | 4,07 |
Announcement Date | 27/03/19 | 29/03/20 | 26/03/21 | 29/03/22 | 29/03/23 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
---|---|---|---|---|---|---|---|---|
Net sales 1 | 658 891 | 705 629 | 755 858 | 764 706 | 758 155 | 794 090 | 839 172 | 900 450 |
EBITDA | - | - | - | - | - | - | - | - |
EBIT 1 | 308 514 | 326 954 | 337 246 | 545 524 | 537 035 | 533 117 | 572 232 | 618 918 |
Operating Margin | 46,8% | 46,3% | 44,6% | 71,3% | 70,8% | 67,1% | 68,2% | 68,7% |
Earnings before Tax (EBT) 1 | 308 160 | 326 597 | 336 616 | 378 412 | 382 017 | 392 665 | 411 522 | 434 095 |
Net income 1 | 254 655 | 266 733 | 271 050 | 302 513 | 319 323 | 331 086 | 347 284 | 367 055 |
Net margin | 38,6% | 37,8% | 35,9% | 39,6% | 42,1% | 41,7% | 41,4% | 40,8% |
EPS 2 | 1,00 | 1,05 | 1,06 | 1,19 | 1,28 | 1,32 | 1,37 | 1,44 |
Free Cash Flow | - | - | - | - | - | - | - | - |
FCF margin | - | - | - | - | - | - | - | - |
FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
Dividend per Share 2 | 0,31 | 0,32 | 0,33 | 0,36 | 0,39 | 0,40 | 0,42 | 0,43 |
Announcement Date | 03/27/19 | 03/29/20 | 03/26/21 | 03/29/22 | 03/29/23 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
Fiscal Period : December | 2019 S1 | 2019 S2 | 2020 S1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q2 | 2022 S1 | 2022 Q4 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales 1 | 344 387 | 333 614 | 359 924 | 185 557 | 191 632 | 192 167 | 192 495 | 394 434 | 181 190 | 187 207 | 388 155 | 182 471 | 182 933 | 211 125 | 196 552 | 193 626 |
EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBIT | 265 838 | 224 031 | 280 339 | 84 052 | 142 308 | - | 145 751 | 303 454 | 101 931 | 136 761 | 292 632 | 132 087 | - | - | - | - |
Operating Margin | 77,2% | 67,2% | 77,9% | 45,3% | 74,3% | - | 75,7% | 76,9% | 56,3% | 73,1% | 75,4% | 72,4% | - | - | - | - |
Earnings before Tax (EBT) | 191 180 | 135 417 | 168 773 | - | - | - | - | - | 88 909 | 92 559 | 197 264 | - | - | - | - | - |
Net income | 154 190 | 112 543 | 137 626 | - | - | - | - | - | 72 041 | 78 148 | 167 295 | 88 110 | - | - | - | - |
Net margin | 44,8% | 33,7% | 38,2% | - | - | - | - | - | 39,8% | 41,7% | 43,1% | 48,3% | - | - | - | - |
EPS | - | - | - | - | - | - | - | - | 0,29 | 0,32 | 0,67 | - | - | - | - | - |
Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Announcement Date | 08/28/19 | 03/29/20 | 08/30/20 | 08/27/21 | 10/29/21 | 03/29/22 | 08/30/22 | 08/30/22 | 03/29/23 | 08/23/23 | 08/23/23 | 10/26/23 | - | - | - | - |
1CNY in Million
Estimates
Balance Sheet Analysis
Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
---|---|---|---|---|---|---|---|---|
Net Debt | - | - | - | - | - | - | - | - |
Net Cash position | - | - | - | - | - | - | - | - |
Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | - | - | - |
ROE (net income / shareholders' equity) | 14,0% | 13,2% | 12,1% | 12,2% | 12,3% | 11,6% | 11,2% | 10,8% |
Shareholders' equity 1 | 1 813 782 | 2 023 771 | 2 236 386 | 2 475 556 | 2 602 469 | 2 851 092 | 3 106 389 | 3 397 095 |
ROA (Net income/ Total Assets) | 1,12% | 1,10% | 1,01% | 1,04% | 1,00% | 0,91% | 0,86% | 0,84% |
Assets 1 | 22 676 313 | 24 336 953 | 26 783 597 | 29 087 788 | 31 932 300 | 36 577 244 | 40 240 982 | 43 937 125 |
Book Value Per Share 2 | 7,91 | 8,86 | 9,06 | 9,95 | 10,9 | 12,1 | 13,0 | 14,1 |
Cash Flow per Share | - | - | - | - | - | - | - | - |
Capex | - | - | - | - | - | - | - | - |
Capex / Sales | - | - | - | - | - | - | - | - |
Announcement Date | 03/27/19 | 03/29/20 | 03/26/21 | 03/29/22 | 03/29/23 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating :
Investor Rating :
ESG Refinitiv :
B-
Sell
Buy

Mean consensus
BUY
Number of Analysts
22
Last Close Price
4.074CNY
Average target price
5.682CNY
Spread / Average Target
+39.46%
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
-8.79% | 146 B $ | |
+16.96% | 453 B $ | |
-6.52% | 245 B $ | |
-8.21% | 223 B $ | |
+9.03% | 163 B $ | |
-0.35% | 150 B $ | |
+17.14% | 147 B $ | |
-4.47% | 142 B $ | |
-3.42% | 128 B $ | |
+1.55% | 116 B $ |
- Stock
- Equities
- Stock China Construction Bank Corporation - Hong Kong Stock Exchange
- Financials China Construction Bank Corporation