Company Valuation: China Resources Pharmaceutical Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,303 39,705 32,229 35,810 27,957 27,926 - -
Change - 78.03% -18.83% 11.11% -21.93% -0.11% - -
Enterprise Value (EV) 1 61,337 73,426 71,468 90,725 90,801 76,615 70,454 58,147
Change - 19.71% -2.67% 26.95% 0.08% -15.62% -8.04% -17.47%
P/E 5.92x 9.58x 7.76x 10x 6.12x 5.72x 5.36x 5.15x
PBR 0.44x 0.8x 0.32x 0.34x 0.48x 0.43x 0.4x 0.36x
PEG - 1x 44.15x -0.7x 0.2x 0.82x 0.81x 1.22x
Capitalization / Revenue 0.09x 0.16x 0.12x 0.13x 0.09x 0.09x 0.08x 0.08x
EV / Revenue 0.26x 0.29x 0.27x 0.33x 0.3x 0.23x 0.21x 0.17x
EV / EBITDA 4.83x 4.38x 4.65x 5.47x 4.73x 3.81x 3.28x 2.81x
EV / EBIT 6.22x 5.39x 5.98x 6.98x 6.23x 4.87x 4.12x 3.45x
EV / FCF 5.88x 7.47x 5.49x 5.73x 4.37x -28.2x 9.6x 6.45x
FCF Yield 17% 13.4% 18.2% 17.5% 22.9% -3.55% 10.4% 15.5%
Dividend per Share 2 0.15 0.16 0.1669 0.1445 0.2203 0.2008 0.2169 0.182
Rate of return 4.23% 2.53% 3.25% 2.54% 4.95% 4.52% 4.88% 4.09%
EPS 2 0.6 0.66 0.6612 0.5677 0.7268 0.7775 0.829 0.8639
Distribution rate 25% 24.2% 25.2% 25.5% 30.3% 25.8% 26.2% 21.1%
Net sales 1 236,806 254,106 265,229 275,999 306,131 328,114 340,766 352,363
EBITDA 1 12,690 16,775 15,382 16,601 19,202 20,083 21,457 20,701
EBIT 1 9,868 13,623 11,952 13,005 14,567 15,738 17,112 16,864
Net income 1 3,769 4,147 4,178 3,589 4,594 4,797 5,157 5,309
Net Debt 1 39,035 33,720 39,238 54,915 62,844 48,689 42,528 30,221
Reference price 2 3.550 6.320 5.130 5.700 4.450 4.445 4.445 4.445
Nbr of stocks (in thousands) 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 6,282,510 - -
Announcement Date 29/03/22 30/03/23 26/03/24 26/03/25 24/03/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
5.72x0.23x3.81x4.52% 3.56B
33.02x11.99x24.3x0.6% 1,034B
29.7x - - 1.98% 654B
33.18x7.69x15.99x2.64% 459B
19.36x4.61x11.42x2.88% 343B
22.91x5.89x14.6x2.71% 307B
20.82x4.27x12.21x2.06% 251B
27.71x7.15x12.7x2.3% 237B
13.18x4.74x9.88x3.82% 202B
-45.81x6.6x25.78x2.2% 186B
Average 15.98x 5.91x 14.52x 2.57% 367.52B
Weighted average by Cap. 24.06x 8.03x 17.78x 1.96%

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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  4. Valuation China Resources Pharmaceutical Group Limited