Financials Power Construction Corporation of China, Ltd

Equities

601669

CNE1000017G1

Construction & Engineering

End-of-day quote Shanghai S.E. 23:00:00 25/04/2024 BST 5-day change 1st Jan Change
5.16 CNY +0.78% Intraday chart for Power Construction Corporation of China, Ltd -1.53% +5.52%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 66,398 58,767 122,380 107,234 84,236 88,887 -
Enterprise Value (EV) 1 281,848 274,551 374,841 351,998 381,218 367,919 371,495
P/E ratio 9.5 x 8.38 x 16.2 x 10.4 x 7.16 x 5.78 x 4.91 x
Yield 0.92% 2.39% 1.23% 1.7% 2.79% 2.74% 3.32%
Capitalization / Revenue 0.19 x 0.15 x 0.27 x 0.19 x 0.14 x 0.12 x 0.11 x
EV / Revenue 0.81 x 0.68 x 0.84 x 0.62 x 0.63 x 0.49 x 0.45 x
EV / EBITDA 11.9 x 10.3 x 12.8 x 10.1 x 9.83 x 6.07 x 5.39 x
EV / FCF - - -20.7 x -15.9 x -7.79 x -4.48 x -4.91 x
FCF Yield - - -4.82% -6.3% -12.8% -22.3% -20.4%
Price to Book 0.62 x 0.65 x 1.25 x 0.92 x 0.65 x 0.5 x 0.46 x
Nbr of stocks (in thousands) 15,299,035 15,146,035 15,146,035 15,146,035 17,226,159 17,226,159 -
Reference price 2 4.340 3.880 8.080 7.080 4.890 5.160 5.160
Announcement Date 23/04/20 26/04/21 27/04/22 26/04/23 25/04/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 347,713 401,181 448,325 571,649 608,439 744,099 832,136
EBITDA 1 23,663 26,565 29,243 34,815 38,794 60,598 68,985
EBIT 1 13,644 16,228 16,592 19,055 20,800 26,813 31,872
Operating Margin 3.92% 4.05% 3.7% 3.33% 3.42% 3.6% 3.83%
Earnings before Tax (EBT) 1 13,686 16,207 16,749 19,247 20,916 26,438 31,434
Net income 1 7,239 7,987 8,632 11,435 12,988 15,390 18,090
Net margin 2.08% 1.99% 1.93% 2% 2.13% 2.07% 2.17%
EPS 2 0.4567 0.4632 0.4979 0.6828 0.6825 0.8933 1.050
Free Cash Flow 1 - - -18,068 -22,188 -48,911 -82,139 -75,672
FCF margin - - -4.03% -3.88% -8.04% -11.04% -9.09%
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.0398 0.0926 0.0996 0.1201 0.1365 0.1414 0.1716
Announcement Date 23/04/20 26/04/21 27/04/22 26/04/23 25/04/24 - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q1 2023 Q2
Net sales - -
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 1 3,021 3,758
Net margin - -
EPS 2 0.1705 0.2100
Dividend per Share - -
Announcement Date 27/04/23 24/08/23
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 215,450 215,784 252,461 244,764 296,982 279,032 282,608
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 9.105 x 8.123 x 8.633 x 7.03 x 7.655 x 4.605 x 4.097 x
Free Cash Flow 1 - - -18,068 -22,188 -48,911 -82,139 -75,672
ROE (net income / shareholders' equity) 8.45% 7.85% 7.89% 9.95% 9.54% 8.46% 9.17%
ROA (Net income/ Total Assets) 0.95% 0.94% 0.93% 0.98% - 1.2% 1.3%
Assets 1 762,841 851,510 925,297 1,168,551 - 1,282,525 1,391,523
Book Value Per Share 2 7.030 6.020 6.470 7.720 7.520 10.30 11.20
Cash Flow per Share 2 0.6000 2.810 1.020 2.040 1.290 2.900 3.140
Capex 1 66,769 58,376 33,692 53,020 71,176 56,919 56,008
Capex / Sales 19.2% 14.55% 7.51% 9.27% 11.7% 7.65% 6.73%
Announcement Date 23/04/20 26/04/21 27/04/22 26/04/23 25/04/24 - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
5.16 CNY
Average target price
7.74 CNY
Spread / Average Target
+50.00%
Consensus
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