Company Valuation: China State Construction International Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 48,815 44,180 45,490 61,761 48,121 43,314 - -
Change - -9.49% 2.96% 35.77% -22.09% -9.99% - -
Enterprise Value (EV) 1 97,432 44,180 97,179 118,586 110,080 100,085 103,030 109,617
Change - -54.66% 119.96% 22.03% -7.17% -9.08% 2.94% 6.39%
P/E 7.18x 5.55x 4.96x 6.59x 4.9x 4.26x 3.92x 3.97x
PBR 0.87x 0.76x 0.61x 0.81x 0.53x 0.49x 0.45x 0.42x
PEG - 0.3x 0.3x 3x -39.97x 1.18x 0.45x -3.01x
Capitalization / Revenue 0.63x 0.43x 0.4x 0.54x 0.42x 0.36x 0.34x 0.34x
EV / Revenue 1.26x 0.43x 0.85x 1.03x 0.97x 0.84x 0.8x 0.85x
EV / EBITDA 9.61x 3.6x 6.67x 7.42x 6.84x 5.88x 5.69x 5.89x
EV / EBIT 10x 3.81x 7.09x 7.89x 7.29x 6.31x 6.1x 6.51x
EV / FCF -78.7x -293x -467x 126x - 15.7x 17.3x 12.7x
FCF Yield -1.27% -0.34% -0.21% 0.79% - 6.38% 5.78% 7.9%
Dividend per Share 2 0.405 0.48 0.56 0.615 0.625 0.7275 0.7302 0.787
Rate of return 4.18% 5.47% 6.2% 5.02% 6.86% 8.87% 8.9% 9.6%
EPS 2 1.349 1.58 1.82 1.86 1.858 1.925 2.092 2.064
Distribution rate 30% 30.4% 30.8% 33.1% 33.6% 37.8% 34.9% 38.1%
Net sales 1 77,310 101,975 113,734 115,107 113,784 119,491 128,245 129,227
EBITDA 1 10,136 12,271 14,570 15,982 16,096 17,030 18,092 18,606
EBIT 1 9,704 11,584 13,716 15,025 15,100 15,855 16,903 16,831
Net income 1 6,801 7,957 9,164 9,361 9,729 10,258 11,049 10,847
Net Debt 1 48,618 - 51,689 56,825 61,959 56,771 59,716 66,303
Reference price 2 9.690 8.770 9.030 12.260 9.110 8.200 8.200 8.200
Nbr of stocks (in thousands) 5,037,617 5,037,617 5,037,617 5,037,617 5,282,217 5,282,217 - -
Announcement Date 25/03/22 21/03/23 21/03/24 21/03/25 26/03/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
4.25x0.84x5.87x8.88% 5.52B
64.77x2.8x27.37x0.07% 93.91B
13.15x1.06x5.84x4.46% 71.19B
35.72x4.45x24.08x0.18% 60.91B
25.13x1.93x18.7x1.24% 54.07B
55.22x4.6x29.38x1.67% 45.7B
32.28x0.77x12.79x1.95% 38.33B
27.07x0.53x8.47x2.2% 34.63B
25.42x1.65x15.87x0.19% 33.1B
4.84x0.3x5.82x5.89% 28.68B
Average 28.78x 1.89x 15.42x 2.67% 46.6B
Weighted average by Cap. 34.88x 2.23x 17.84x 1.83%

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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