Company Valuation: CITIC Telecom International Holdings Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,686 9,774 12,136 8,623 9,141 9,826 - -
Change - 0.9% 24.17% -28.95% 6.01% 7.49% - -
Enterprise Value (EV) 1 13,835 12,308 14,684 11,243 10,753 10,290 9,138 7,980
Change - -11.04% 19.31% -23.43% -4.36% -4.3% -11.2% -12.67%
P/E 9.01x 8.2x 9.85x 9.47x 9.92x 10.2x 9.83x 9.16x
PBR 0.96x 0.94x 1.13x 0.8x 0.83x 0.87x 0.85x 0.83x
PEG - 0.8x 3.18x -0.4x 8.13x 2.31x 2.56x 1.24x
Capitalization / Revenue 1.02x 0.97x 1.22x 0.9x 0.96x 0.99x 0.94x 0.9x
EV / Revenue 1.46x 1.22x 1.47x 1.17x 1.12x 1.03x 0.88x 0.73x
EV / EBITDA 5.51x 4.63x 5.71x 5.62x 5.59x 5.34x 4.6x 3.89x
EV / EBIT 8.52x 6.97x 8.29x 8.97x 8.77x 8.37x 7.1x 5.9x
EV / FCF 7.43x 5.13x 9.35x - - 5.2x 4.43x 3.79x
FCF Yield 13.5% 19.5% 10.7% - - 19.2% 22.6% 26.4%
Dividend per Share 2 0.225 0.245 0.253 0.188 0.19 0.2 0.21 0.22
Rate of return 8.56% 9.25% 7.71% 8.07% 7.69% 7.53% 7.91% 8.29%
EPS 2 0.292 0.323 0.333 0.246 0.249 0.26 0.27 0.29
Distribution rate 77.1% 75.9% 76% 76.4% 76.3% 76.9% 77.8% 75.9%
Net sales 1 9,486 10,111 9,987 9,573 9,567 9,969 10,418 10,878
EBITDA 1 2,509 2,657 2,571 2,001 1,925 1,928 1,986 2,051
EBIT 1 1,624 1,765 1,771 1,254 1,226 1,229 1,287 1,352
Net income 1 1,076 1,191 1,231 910 920 959.6 1,009 1,065
Net Debt 1 4,149 2,534 2,548 2,620 1,612 464.6 -688.2 -1,846
Reference price 2 2.630 2.650 3.280 2.330 2.470 2.655 2.655 2.655
Nbr of stocks (in thousands) 3,683,013 3,688,281 3,700,035 3,700,891 3,700,891 3,700,891 - -
Announcement Date 15/03/22 16/03/23 13/03/24 12/03/25 12/03/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.21x1.03x5.34x7.53% 1.25B
11.44x1.35x4.34x6.76% 230B
10.36x2.5x6.61x6% 196B
14.01x2.18x5.65x3.88% 161B
12.66x1.83x7.95x3.4% 81.84B
11.6x0.87x3.24x6.77% 79.05B
11.76x1.89x4.78x2.7% 71.51B
15.4x2.73x8.58x5.06% 57.95B
23.14x5.21x18.5x4.65% 54.9B
12.64x1.78x5.46x4.79% 50.56B
Average 13.32x 2.14x 7.04x 5.15% 98.32B
Weighted average by Cap. 12.73x 2.07x 6.35x 5.25%

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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