Company Valuation: Bank of China Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 856,824 834,257 876,091 1,067,151 1,473,279 1,639,675 1,639,675 -
Change - -2.63% 5.01% 21.81% 38.06% 11.29% 0% -
Enterprise Value (EV) 856,824 834,257 876,091 1,067,151 1,473,279 1,639,675 1,639,675 1,639,675
Change - -2.63% 5.01% 21.81% 38.06% 11.29% 0% 0%
P/E ratio 3.66x 3.27x 3.44x 3.66x 4.97x 5.7x 5.66x 5.55x
PBR 0.37x 0.35x 0.36x 0.36x 0.46x 0.49x 0.46x 0.45x
PEG - 0.2x 0.8x 2.67x 3.68x -2.42x 8.14x 2.97x
Capitalization / Revenue 1.51x 1.38x 1.42x 1.71x 2.33x 2.55x 2.46x 2.34x
EV / Revenue 0x 0x 0x 0x 0x 2.55x 2.46x 2.34x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.11x 3.94x 3.68x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.197 0.221 0.232 0.2364 0.2424 0.2207 0.2293 0.2331
Rate of return 8.83% 9.65% 9.24% 8.74% 6.5% 5.29% 5.49% 5.59%
EPS 2 0.61 0.7 0.73 0.74 0.75 0.7323 0.7374 0.7512
Distribution rate 32.3% 31.6% 31.8% 31.9% 32.3% 30.1% 31.1% 31%
Net sales 1 567,647 605,717 619,139 624,138 632,771 642,117 667,045 701,489
EBITDA - - - - - - - -
EBIT 1 365,236 379,362 387,943 401,205 397,001 399,115 416,469 445,351
Net income 1 192,870 216,559 227,439 231,904 237,841 232,613 238,361 243,316
Net Debt - - - - - - - -
Reference price 2 2.231 2.289 2.512 2.705 3.731 4.172 4.172 4.172
Nbr of stocks (in thousands) 294,385,451 294,384,261 294,387,791 294,387,791 294,387,791 322,212,412 322,212,412 -
Announcement Date 30/03/21 29/03/22 30/03/23 28/03/24 26/03/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
5.7x - - 5.29% 237B
15.68x - - 1.82% 858B
14.55x - - 1.96% 399B
5.83x - - 5.34% 358B
15.1x - - 4.01% 306B
14.55x - - 1.85% 284B
5.57x - - 5.35% 277B
15.42x - - 2.84% 246B
15.67x - - 2.47% 223B
25.31x - - 3.14% 188B
Average 13.34x 3.41% 337.64B
Weighted average by Cap. 13.34x 3.13%

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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