Company Valuation: Great Wall Motor Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 299,173 365,511 204,264 176,142 192,821 155,656 155,656 -
Change - 22.17% -44.12% -13.77% 9.47% -19.27% 0% -
Enterprise Value (EV) 1 303,263 353,468 198,234 167,145 182,589 129,858 132,183 106,417
Change - 16.55% -43.92% -15.68% 9.24% -28.88% 1.79% -19.49%
P/E ratio 38.6x 29.9x 9.88x 11.2x 8.61x 11.9x 8.31x 6.18x
PBR 3.58x 3.25x 1.12x 1.14x 1.4x 1.12x 1.04x 0.88x
PEG - 1.2x 0.4x -1.13x 0.1x -0.5x -1.66x 0.2x
Capitalization / Revenue 2.9x 2.68x 1.49x 1.02x 0.95x 0.78x 0.61x 0.53x
EV / Revenue 2.94x 2.59x 1.44x 0.96x 0.9x 0.57x 0.51x 0.36x
EV / EBITDA 28.9x 30.1x 14x 11.5x 8.99x 6.16x 5.94x 3.99x
EV / EBIT 54.2x 55.5x 24.9x 23.2x 13.1x 9.74x 9.54x 5.73x
EV / FCF -117x 15.5x -49.7x 110x 10.9x 9.75x 16x 5.76x
FCF Yield -0.86% 6.46% -2.01% 0.91% 9.15% 10.3% 6.25% 17.4%
Dividend per Share 2 0.28 0.37 0.3 0.3 0.45 0.4687 0.4088 0.5819
Rate of return 1.25% 1.69% 3.34% 3.26% 3.51% 4.07% 3.55% 5.06%
EPS 2 0.58 0.73 0.91 0.82 1.49 1.16 1.385 1.861
Distribution rate 48.3% 50.7% 33% 36.6% 30.2% 32.1% 29.5% 31.3%
Net sales 1 103,283 136,300 137,351 173,212 202,195 222,790 256,725 292,626
EBITDA 1 10,503 11,727 14,128 14,518 20,321 21,095 22,240 26,689
EBIT 1 5,595 6,369 7,967 7,201 13,921 11,459 13,857 18,558
Net income 1 5,362 6,781 8,279 7,022 12,692 9,912 12,374 17,100
Net Debt 1 4,090 -12,043 -6,030 -8,997 -10,232 -25,798 -23,473 -49,239
Reference price 2 22.40 21.83 8.99 9.20 12.84 11.51 11.51 11.51
Nbr of stocks (in thousands) 9,175,953 9,235,467 8,645,413 8,456,737 8,511,594 8,558,529 8,558,529 -
Announcement Date 1/25/21 2/8/22 2/2/23 1/24/24 3/28/25 1/30/26 - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.89x0.57x6.16x4.07% 22.53B
13.27x1.55x13.17x2.56% 322B
11.04x1.3x13.93x2.36% 80.45B
6.75x0.33x2.73x0.9% 73.29B
11.08x0.17x1.86x3.96% 65.15B
8.24x0.07x0.47x4.4% 64.95B
9.54x0.06x0.53x4.24% 61.27B
54.1x0.3x4.37x4.28% 56.33B
27.42x2.58x17.7x0.82% 43.55B
14.19x0.57x9.13x4.46% 40.77B
Average 16.35x 0.75x 7.01x 3.21% 83B
Weighted average by Cap. 15.05x 0.98x 8.76x 2.93%

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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