Company Valuation: CSPC Pharmaceutical Group Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 100,932 97,707 86,022 55,169 96,380 91,785 - -
Change - -3.19% -11.96% -35.87% 74.7% -4.77% - -
Enterprise Value (EV) 1 89,633 86,241 72,284 46,931 86,710 80,564 77,493 74,350
Change - -3.79% -16.18% -35.07% 84.76% -7.09% -3.81% -4.06%
P/E 14.7x 14.1x 13.5x 12.1x 21.8x 9.05x 13.3x 12.5x
PBR 3.17x 2.86x 2.39x 1.62x 2.56x 2.05x 1.91x 1.77x
PEG - 14.13x -1.73x -0.5x -9.88x 0x -0.4x 1.89x
Capitalization / Revenue 2.94x 2.77x 2.52x 1.78x 3.26x 2.38x 2.57x 2.43x
EV / Revenue 2.61x 2.44x 2.12x 1.51x 2.94x 2.09x 2.17x 1.97x
EV / EBITDA 9.5x 9.43x 8.39x 6.22x 12.1x 5.87x 8.09x 6.96x
EV / EBIT 10.7x 10.8x 9.77x 7.68x 15.6x 6.61x 9.63x 8.78x
EV / FCF 23.7x 14.1x 26.2x 17.5x 19.5x 10.5x 11.7x 10.8x
FCF Yield 4.22% 7.11% 3.82% 5.71% 5.12% 9.48% 8.57% 9.29%
Dividend per Share 2 0.18 0.21 0.28 0.26 0.29 0.4601 0.3685 0.3917
Rate of return 2.13% 2.56% 3.86% 5.44% 3.44% 5.72% 4.58% 4.87%
EPS 2 0.5773 0.5831 0.5376 0.3946 0.3859 0.8886 0.6025 0.6425
Distribution rate 31.2% 36% 52.1% 65.9% 75.2% 51.8% 61.2% 61%
Net sales 1 34,309 35,292 34,175 31,046 29,533 38,487 35,696 37,829
EBITDA 1 9,431 9,148 8,615 7,547 7,168 13,729 9,585 10,681
EBIT 1 8,366 7,952 7,400 6,113 5,564 12,184 8,044 8,472
Net income 1 6,901 6,949 6,382 4,632 4,409 10,145 7,019 7,511
Net Debt 1 -11,298 -11,467 -13,738 -8,238 -9,670 -11,221 -14,292 -17,435
Reference price 2 8.470 8.200 7.260 4.780 8.430 8.040 8.040 8.040
Nbr of stocks (in thousands) 11,916,370 11,915,520 11,848,756 11,541,665 11,433,025 11,416,025 - -
Announcement Date 22/3/22 22/3/23 20/3/24 28/3/25 25/3/26 - - -
1HKD in Million2HKD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.97x2.07x5.81x5.77% 11.6B
37.84x13.27x28.43x0.53% 1,148B
39.67x6.67x18.75x1.97% 652B
37.4x8.39x17.35x2.4% 505B
21.45x5.21x12.93x2.51% 384B
102.73x5.76x24.72x2.42% 348B
21.89x5.76x13.88x2.85% 294B
22.21x4.49x12.82x1.97% 264B
28.66x7.33x13.12x2.23% 244B
-45.79x7.11x27.55x2.07% 197B
Average 27.50x 6.61x 17.54x 2.47% 404.88B
Weighted average by Cap. 35.21x 8.38x 20.60x 1.8%

Y-o-Y evolution of P/E

Valuation ratios - P/E - CSPC Pharmaceutical Group Limited

Historical PBR trend

Valuation ratios - PBR - CSPC Pharmaceutical Group Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - CSPC Pharmaceutical Group Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - CSPC Pharmaceutical Group Limited


Year-on-year evolution of the Yield

Valuation ratios - Yield - CSPC Pharmaceutical Group Limited
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