Company Valuation: China State Construction Development Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 3,449 3,947 5,188 4,060 2,684 1,443 -
Change - 14.45% 31.43% -21.74% -33.9% -46.23% -
Enterprise Value (EV) 1 3,795 4,298 5,663 4,658 3,279 2,035 2,067
Change - 13.27% 31.75% -17.74% -29.62% -37.93% 1.57%
P/E 11.8x 9.16x 8.94x 6.24x 11.3x 3.56x 3.2x
PBR 2.06x 1.89x 2.16x 1.52x 0.95x 0.5x 0.47x
PEG - 0.2x 0.3x 0.5x -0.2x 0.1x 0.3x
Capitalization / Revenue 0.55x 0.51x 0.6x 0.5x 0.45x 0.21x 0.21x
EV / Revenue 0.6x 0.56x 0.65x 0.57x 0.55x 0.3x 0.29x
EV / EBITDA 8.98x 7.68x 7.58x 4.75x 6.86x 3.73x 3.09x
EV / EBIT 9.42x 8.05x 7.73x 5.83x 9.95x 5.33x 4.11x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 0.047 0.065 0.087 0.098 0.06 0.06 0.09
Rate of return 2.94% 3.71% 3.78% 5.44% 5.04% 9.38% 14.1%
EPS 2 0.1355 0.1911 0.2573 0.2883 0.1052 0.18 0.2
Distribution rate 34.7% 34% 33.8% 34% 57% 33.3% 45%
Net sales 1 6,295 7,669 8,666 8,102 5,975 6,767 7,034
EBITDA 1 422.5 559.9 747.4 980 478.2 545 668
EBIT 1 402.9 533.9 732.2 799 329.5 382 503
Net income 1 292 421.9 580.4 650.3 237.3 262 370
Net Debt 1 345.6 351 475 598.4 595.3 592 624
Reference price 2 1.6000 1.7500 2.3000 1.8000 1.1900 0.6400 0.6400
Nbr of stocks (in thousands) 2,155,545 2,255,545 2,255,545 2,255,545 2,255,045 2,254,641 -
Announcement Date 23/03/22 20/03/23 18/03/24 17/03/25 20/03/26 - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
3.56x0.3x3.73x9.38% 184M
65.05x2.81x27.51x0.07% 94.32B
13.09x1.06x5.81x4.48% 71.3B
38.8x4.75x26.33x0.17% 58.83B
25.27x1.93x18.78x1.23% 54.5B
55.39x4.6x29.44x1.64% 45.98B
33.09x0.78x13.13x1.92% 39.23B
27.88x0.54x8.68x2.14% 35.71B
25.4x1.65x15.86x0.19% 33.07B
4.66x0.29x6.25x6.11% 27.62B
Average 29.22x 1.87x 15.55x 2.73% 46.07B
Weighted average by Cap. 35.90x 2.28x 18.36x 1.75%

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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