Company Valuation: CNOOC Energy Technology & Services Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 24,295 29,784 29,276 28,971 43,405 43,913 43,913 -
Change - 22.59% -1.71% -1.04% 49.82% 1.17% 0% -
Enterprise Value (EV) 24,295 29,784 29,276 28,971 43,405 43,913 43,913 43,913
Change - 22.59% -1.71% -1.04% 49.82% 1.17% 0% 0%
P/E ratio 16x 23.2x 12.1x 9.4x 11.9x 10.5x 9.29x 8.31x
PBR 1.25x 1.47x 1.31x 1.18x 1.6x 1.47x 1.33x 1.2x
PEG - -1.5x 0.1x 0.3x 0.6x 0.8x 0.7x 0.7x
Capitalization / Revenue 0.73x 0.77x 0.61x 0.59x 0.83x 0.78x 0.72x 0.7x
EV / Revenue 0x 0x 0x 0x 0x 0.78x 0.72x 0.7x
EV / EBITDA 0x 0x 0x 0x 0x 6.18x 5.62x 5.06x
EV / EBIT 0x 0x 0x 0x 0x 8.17x 7.26x 6.47x
EV / FCF - - - - 0x 27.1x 11x 9.38x
FCF Yield - - - - 7.73% 3.69% 9.1% 10.7%
Dividend per Share 2 0.045 0.055 0.085 0.11 0.135 0.1533 0.1767 0.19
Rate of return 1.88% 1.88% 2.95% 3.86% 3.16% 3.55% 4.09% 4.4%
EPS 2 0.1497 0.1263 0.2377 0.3031 0.3597 0.41 0.465 0.52
Distribution rate 30.1% 43.5% 35.8% 36.3% 37.5% 37.4% 38% 36.5%
Net sales 1 33,208 38,739 47,784 49,308 52,517 56,550 60,735 62,944
EBITDA 1 3,892 4,003 4,957 5,457 7,384 7,111 7,809 8,671
EBIT 1 2,065 1,934 2,998 3,860 5,010 5,373 6,045 6,786
Net income 1 1,522 1,284 2,416 3,081 3,656 4,154 4,740 5,328
Net Debt - - - - - - - -
Reference price 2 2.390 2.930 2.880 2.850 4.270 4.320 4.320 4.320
Nbr of stocks (in thousands) 10,165,104 10,165,104 10,165,104 10,165,104 10,165,104 10,165,104 10,165,104 -
Announcement Date 19/04/21 18/04/22 10/04/23 15/04/24 09/04/25 - - -
1CNY in Million2CNY
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.54x - - 3.55% 6.36B
17.47x2.21x9.35x2.35% 75.35B
24.01x2.19x12.34x1.5% 60.48B
15.37x1.52x8.26x2.14% 28.44B
27.58x2.44x13.33x0.33% 24.82B
20.29x0.47x4.21x4.56% 7.86B
18.06x1.56x7.13x1.22% 7.27B
18.66x0.81x7.02x1.69% 6.92B
18.15x1.58x14.54x0.97% 6.42B
9.94x2.23x6.85x2.7% 6.07B
Average 18.01x 1.67x 9.23x 2.1% 23B
Weighted average by Cap. 19.80x 2.00x 10.22x 1.91%

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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