Company Valuation: China Three Gorges Renewables (Group) Co.,Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 214,568 161,700 125,082 125,068 116,923 105,488 - -
Change - -24.64% -22.65% -0.01% -6.51% -9.78% - -
Enterprise Value (EV) 1 214,568 275,859 125,082 302,573 312,253 298,638 296,989 291,533
Change - 28.56% -54.66% 141.9% 3.2% -4.36% -0.55% -1.84%
P/E 33.1x 22.6x 17.4x 20.5x 31.5x 26.5x 20.5x 19.7x
PBR 3.12x 2.1x 1.52x 1.44x 1.32x 1.15x 1.09x 1.07x
PEG - 2.2x 54.4x -1.4x -0.8x 3.55x 0.7x 4.89x
Capitalization / Revenue 13.8x 6.79x 4.72x 4.21x 4.12x 3.63x 3.16x 3.03x
EV / Revenue 13.8x 11.6x 4.72x 10.2x 11x 10.3x 8.89x 8.37x
EV / EBITDA 14.6x 16.1x 5.54x 15x 16.7x 12.2x 10.5x 9.37x
EV / EBIT 31.7x 29.9x 13.9x 35.5x 61.5x 49.1x 38.6x 42.6x
EV / FCF -10.2x -25.4x -4.78x -25.3x -28.1x 168x 136x 180x
FCF Yield -9.83% -3.93% -20.9% -3.96% -3.56% 0.6% 0.74% 0.55%
Dividend per Share 2 0.0212 0.076 0.078 0.067 0.041 0.0446 0.0538 0.065
Rate of return 0.28% 1.35% 1.78% 1.53% 1% 1.21% 1.46% 1.76%
EPS 2 0.2271 0.2501 0.2509 0.2135 0.1298 0.1395 0.1802 0.1875
Distribution rate 9.34% 30.4% 31.1% 31.4% 31.6% 32% 29.9% 34.7%
Net sales 1 15,500 23,812 26,485 29,717 28,399 29,087 33,410 34,833
EBITDA 1 14,689 17,094 22,575 20,148 18,720 24,410 28,366 31,109
EBIT 1 6,769 9,217 8,991 8,525 5,078 6,085 7,685 6,840
Net income 1 5,634 7,155 7,181 6,111 3,714 4,122 5,419 5,846
Net Debt 1 - 114,159 - 177,505 195,329 193,150 191,501 186,045
Reference price 2 7.510 5.650 4.370 4.370 4.090 3.690 3.690 3.690
Nbr of stocks (in thousands) 28,571,000 28,619,530 28,622,959 28,619,739 28,587,650 28,587,650 - -
Announcement Date 10/03/22 07/02/23 19/01/24 29/04/25 31/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.67x10.3x12.27x1.2% 15.81B
8.37x7.92x10.4x3.68% 14.01B
22.6x - - - 2.42B
13.11x4.85x9.27x - 1.07B
11.59x17.26x16.38x8.79% 994M
Average 16.47x 10.08x 12.08x 4.56% 6.86B
Weighted average by Cap. 18.05x 9.29x 11.48x 2.57%

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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