Company Valuation: Bank of China Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 834,257 876,091 1,067,151 1,473,279 1,702,268 1,726,387 - -
Change - 5.01% 21.81% 38.06% 15.54% 1.42% - -
Enterprise Value (EV) 834,257 876,091 1,067,151 1,473,279 1,702,268 1,726,387 1,726,387 1,726,387
Change - 5.01% 21.81% 38.06% 15.54% 1.42% 0% 0%
P/E ratio 3.27x 3.44x 3.66x 4.97x 5.42x 5.89x 5.74x 5.37x
PBR 0.35x 0.36x 0.36x 0.46x 0.48x 0.49x 0.47x 0.42x
PEG - 0.8x 2.67x 3.68x -4.07x 3.06x 2.24x 0.77x
Capitalization / Revenue 1.38x 1.42x 1.71x 2.33x 2.58x 2.54x 2.39x 2.22x
EV / Revenue 0x 0x 0x 0x 0x 2.54x 2.39x 2.22x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.07x 3.87x 3.56x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.221 0.232 0.2364 0.2424 0.2263 0.2359 0.2419 0.2586
Rate of return 9.65% 9.24% 8.74% 6.5% 5.65% 5.32% 5.45% 5.83%
EPS 2 0.7 0.73 0.74 0.75 0.74 0.7542 0.7736 0.8272
Distribution rate 31.6% 31.8% 31.9% 32.3% 30.6% 31.3% 31.3% 31.3%
Net sales 1 605,717 619,139 624,138 632,771 659,866 679,514 722,236 777,178
EBITDA - - - - - - - -
EBIT 1 379,362 387,943 401,205 397,001 403,243 424,217 446,198 484,934
Net income 1 216,559 227,439 231,904 237,841 243,021 247,581 252,684 273,040
Net Debt - - - - - - - -
Reference price 2 2.289 2.512 2.705 3.731 4.008 4.439 4.439 4.439
Nbr of stocks (in thousands) 294,384,261 294,387,791 294,387,791 294,387,791 322,212,412 322,212,412 - -
Announcement Date 29/03/22 30/03/23 28/03/24 26/03/25 30/03/26 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
5.89x - - 5.32% 254B
13.53x - - 2.08% 809B
11.47x - - 2.3% 364B
5.84x - - 5.31% 372B
11.18x - - 4.63% 308B
5.79x - - 5.27% 299B
15.93x - - 2.7% 254B
10.85x - - 2.48% 231B
27.32x - - 2.87% 213B
14.34x - - 2.69% 202B
Average 12.21x 3.56% 330.81B
Weighted average by Cap. 11.87x 3.41%

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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