Company Valuation: China United Network Communications Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 121,796 142,484 139,301 168,861 159,761 129,122 - -
Change - 16.99% -2.23% 21.22% -5.39% -19.18% - -
Enterprise Value (EV) 1 93,305 87,641 96,295 131,134 130,872 71,393 53,492 30,806
Change - -6.07% 9.87% 36.18% -0.2% -45.45% -25.07% -42.41%
P/E 19.1x 19.1x 16.8x 18.2x 17.5x 15.1x 14.2x 14.1x
PBR 0.82x 0.92x 0.88x 1.02x 0.95x 0.75x 0.73x 0.72x
PEG - 1.4x 1.5x 1.5x 511x -2.4x 2.34x 22.62x
Capitalization / Revenue 0.37x 0.4x 0.37x 0.43x 0.41x 0.33x 0.32x 0.32x
EV / Revenue 0.28x 0.25x 0.26x 0.34x 0.33x 0.18x 0.13x 0.08x
EV / EBITDA 1.05x 0.96x 1.07x 1.36x 1.5x 0.78x 0.57x 0.33x
EV / EBIT 5.27x 4.3x 4.22x 5.78x 5.23x 3.18x 2.35x 1.31x
EV / FCF 2.21x 2.83x 3.65x 7.5x 5.13x 1.59x 1.4x 0.82x
FCF Yield 45.2% 35.3% 27.4% 13.3% 19.5% 62.8% 71.4% 122%
Dividend per Share 2 0.096 0.0427 0.0524 0.0621 0.0523 0.1664 0.177 0.1829
Rate of return 2.44% 0.95% 1.2% 1.17% 1.02% 4.03% 4.29% 4.43%
EPS 2 0.206 0.234 0.261 0.292 0.2921 0.2737 0.2903 0.2921
Distribution rate 46.6% 18.2% 20.1% 21.3% 17.9% 60.8% 61% 62.6%
Net sales 1 327,854 354,944 372,600 389,589 392,223 390,655 401,893 403,173
EBITDA 1 89,038 91,127 90,154 96,422 87,011 91,601 93,846 92,066
EBIT 1 17,696 20,401 22,800 22,700 25,036 22,452 22,781 23,445
Net income 1 6,305 7,299 8,200 9,030 9,127 8,355 8,813 8,805
Net Debt 1 -28,492 -54,843 -43,006 -37,727 -28,889 -57,729 -75,630 -98,316
Reference price 2 3.930 4.480 4.380 5.310 5.110 4.130 4.130 4.130
Nbr of stocks (in thousands) 30,991,393 31,804,436 31,803,992 31,800,581 31,264,425 31,264,425 - -
Announcement Date 11/03/22 08/03/23 04/03/24 18/03/25 19/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.09x0.18x0.78x4.03% 19B
11.09x1.28x3.97x7.23% 217B
9.55x2.44x6.53x6.13% 192B
13.07x2.1x5.52x4.31% 144B
13.01x2.04x5.14x2.39% 78.85B
11.42x1.71x7.29x3.77% 72.46B
11.32x0.72x2.7x7.12% 68.84B
15.66x2.73x8.55x5.03% 58.3B
16.75x5.39x19.54x4.29% 55.73B
17.32x1.87x5.83x4.63% 51.48B
Average 13.43x 2.05x 6.58x 4.89% 95.81B
Weighted average by Cap. 12.30x 2.03x 6.19x 5.39%

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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