Company Valuation: Beijing Capital International Airport Company Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,795 23,129 9,519 12,049 11,357 5,985 - -
Change - 29.98% -58.85% 26.58% -5.74% -47.31% - -
Enterprise Value (EV) 1 23,520 31,314 19,070 22,295 20,993 14,128 12,825 11,904
Change - 33.13% -39.1% 16.91% -5.84% -32.7% -9.22% -7.18%
P/E -8.45x -6.56x -5.62x -8.77x -17.7x 163x 17.1x 16.9x
PBR 0.88x 1.39x 0.64x 0.9x 0.88x 0.46x 0.45x 0.44x
PEG - -0.1x 0.1x 0.5x 0.3x -2x 0x 13.48x
Capitalization / Revenue 5.32x 10.4x 2.09x 2.19x 2.02x 1x 0.92x 0.87x
EV / Revenue 7.03x 14x 4.18x 4.06x 3.73x 2.37x 1.97x 1.73x
EV / EBITDA -20x -15.6x 97.8x 19.5x 15x 7.78x 5.78x 4.9x
EV / EBIT -8.56x -8.56x -13.5x -64.2x -89.1x 48.2x 18.1x 12.8x
EV / FCF -16.8x -15.8x -22.5x -71.6x 19.9x 25.2x 8.79x 9.38x
FCF Yield -5.96% -6.33% -4.44% -1.4% 5.02% 3.97% 11.4% 10.7%
Dividend per Share 2 - - - - - - 0.0135 -
Rate of return - - - - - - 1.03% -
EPS 2 -0.46 -0.77 -0.37 -0.3 -0.14 0.00804 0.0766 0.0775
Distribution rate - - - - - - 17.6% -
Net sales 1 3,345 2,231 4,559 5,492 5,632 5,959 6,511 6,864
EBITDA 1 -1,174 -2,004 195.1 1,145 1,401 1,815 2,217 2,430
EBIT 1 -2,747 -3,658 -1,413 -347.1 -235.7 292.9 708 929.8
Net income 1 -2,117 -3,527 -1,697 -1,390 -630 36.14 399.7 350.4
Net Debt 1 5,726 8,185 9,551 10,247 9,635 8,143 6,840 5,919
Reference price 2 3.886 5.051 2.079 2.631 2.480 1.307 1.307 1.307
Nbr of stocks (in thousands) 4,579,179 4,579,179 4,579,179 4,579,179 4,579,179 4,579,179 - -
Announcement Date 24/03/22 30/03/23 27/03/24 27/03/25 26/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
162.55x2.37x7.78x-.--% 890M
45.31x13.24x23.33x1.27% 26.6B
19.6x3.13x9.79x1.61% 6.67B
22.49x4.37x10.97x3.14% 5.15B
137x - - 0.36% 4.66B
13.3x5.42x8.36x5.9% 4.84B
15.97x5.93x9.81x6.27% 3.84B
25.27x2.45x9.68x6.15% 3.07B
25.07x1.54x5.01x1.95% 2.97B
Average 51.84x 4.81x 10.59x 2.96% 6.52B
Weighted average by Cap. 42.81x 8.49x 16.14x 2.38%

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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