Company Valuation: ZTE Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 146,171 114,433 118,615 180,020 170,846 125,803 - -
Change - -21.71% 3.65% 51.77% -5.1% -26.36% - -
Enterprise Value (EV) 1 134,901 103,175 93,210 193,818 191,562 153,938 153,647 150,769
Change - -23.52% -9.66% 107.94% -1.16% -19.64% -0.19% -1.87%
P/E 22.8x 15.1x 13.5x 23x 32.6x 25.1x 19.7x 17x
PBR 3.08x 2.09x 1.86x 2.65x 2.4x 1.71x 1.6x 1.5x
PEG - 0.9x 0.9x -2.3x -1x -8.28x 0.7x 1x
Capitalization / Revenue 1.28x 0.93x 0.95x 1.48x 1.28x 0.8x 0.74x 0.67x
EV / Revenue 1.18x 0.84x 0.75x 1.6x 1.43x 0.98x 0.91x 0.8x
EV / EBITDA 9.31x 7.92x 6.29x 14x 17.6x 27.8x 12.5x 11.6x
EV / EBIT 18.3x 11.9x 9.09x 20.7x 30.1x 17x 19.6x 16.8x
EV / FCF 13.4x 39.3x 6.9x 24.2x 7,437x 88.8x 17.2x 14.7x
FCF Yield 7.44% 2.54% 14.5% 4.13% 0.01% 1.13% 5.82% 6.79%
Dividend per Share 2 0.3 0.4 0.683 0.617 0.411 0.74 0.5322 0.6412
Rate of return 0.9% 1.55% 2.58% 1.53% 1.09% 2.62% 1.89% 2.27%
EPS 2 1.47 1.71 1.96 1.76 1.16 1.125 1.429 1.663
Distribution rate 20.4% 23.4% 34.8% 35.1% 35.4% 65.8% 37.2% 38.6%
Net sales 1 114,522 122,954 124,251 121,299 133,895 156,374 169,387 188,234
EBITDA 1 14,494 13,019 14,827 13,880 10,893 5,533 12,283 12,998
EBIT 1 7,380 8,668 10,258 9,342 6,362 9,081 7,825 8,969
Net income 1 6,813 8,080 9,326 8,425 5,618 6,491 6,856 7,993
Net Debt 1 -11,270 -11,258 -25,405 13,798 20,715 28,135 27,844 24,966
Reference price 2 33.50 25.86 26.48 40.40 37.84 28.20 28.20 28.20
Nbr of stocks (in thousands) 4,726,548 4,736,113 4,783,252 4,783,535 4,783,535 4,754,875 - -
Announcement Date 08/03/22 10/03/23 08/03/24 28/02/25 06/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.12x0.98x16.73x2.61% 18.91B
27.13x6.08x15.74x1.53% 439B
49.02x17.38x34.84x-.--% 236B
15.12x0.61x10.97x2.99% 137B
18.67x5.8x14x0.66% 102B
34.99x6.78x19.66x1% 80.03B
40.08x12.02x26.82x-.--% 78.46B
28.62x6.54x21.57x1.43% 55.8B
45.67x2.05x12.94x1.89% 50.69B
16.9x2.69x11.22x4.21% 47.07B
Average 30.03x 6.09x 18.45x 1.63% 124.41B
Weighted average by Cap. 30.98x 7.67x 19.64x 1.33%

Y-o-Y evolution of P/E

Valuation ratios - P/E - ZTE Corporation

Historical PBR trend

Valuation ratios - PBR - ZTE Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - ZTE Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - ZTE Corporation


Year-on-year evolution of the Yield

Valuation ratios - Yield - ZTE Corporation
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