Financials China Construction Bank Corporation

Equities

939

CNE1000002H1

Banks

Market Closed - Hong Kong S.E. 04:08:07 2024-05-09 am EDT 5-day change 1st Jan Change
5.28 HKD +1.54% Intraday chart for China Construction Bank Corporation +2.92% +13.55%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,515,310 1,252,050 1,114,060 1,092,231 1,078,642 1,224,177 - -
Enterprise Value (EV) 1 1,515,310 1,252,050 1,114,060 1,092,231 1,078,642 1,224,177 1,224,177 1,224,177
P/E ratio 5.73 x 4.68 x 3.7 x 3.37 x 3.23 x 3.66 x 3.53 x 3.36 x
Yield 5.32% 6.58% 8.27% 9.01% 9.46% 8.46% 8.68% 9.09%
Capitalization / Revenue 2.15 x 1.66 x 1.46 x 1.44 x 1.45 x 1.66 x 1.54 x 1.49 x
EV / Revenue 2.15 x 1.66 x 1.46 x 1.44 x 1.45 x 1.66 x 1.54 x 1.49 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.68 x 0.55 x 0.44 x 0.4 x 0.36 x 0.37 x 0.34 x 0.32 x
Nbr of stocks (in thousands) 250,010,977 250,010,977 250,010,977 250,010,977 250,010,977 250,010,977 - -
Reference price 2 6.014 4.957 4.400 4.319 4.226 4.807 4.807 4.807
Announcement Date 3/29/20 3/26/21 3/29/22 3/29/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 705,629 755,858 764,706 758,155 745,615 737,261 797,421 823,298
EBITDA - - - - - - - -
EBIT 1 326,954 337,246 545,524 537,035 525,463 519,294 532,245 573,304
Operating Margin 46.34% 44.62% 71.34% 70.83% 70.47% 70.44% 66.75% 69.64%
Earnings before Tax (EBT) 1 326,597 336,616 378,412 382,017 389,377 391,818 408,068 427,583
Net income 1 266,733 271,050 302,513 319,323 327,543 332,435 346,761 364,311
Net margin 37.8% 35.86% 39.56% 42.12% 43.93% 45.09% 43.49% 44.25%
EPS 2 1.050 1.060 1.190 1.280 1.310 1.312 1.362 1.430
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.3200 0.3260 0.3640 0.3890 0.4000 0.4066 0.4171 0.4370
Announcement Date 3/29/20 3/26/21 3/29/22 3/29/23 3/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 Q4 2022 Q2 2022 S1 2022 Q4 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 1 333,614 359,924 192,167 192,495 394,434 181,190 187,207 388,155 182,471 174,989 - 195,284 182,703 - 179,751 172,454 - - -
EBITDA - - - - - - - - - - - - - - - - - - -
EBIT 224,031 280,339 - 145,751 303,454 101,931 136,761 292,632 132,087 101,208 - 150,499 - - - - - - -
Operating Margin 67.15% 77.89% - 75.72% 76.93% 56.26% 73.05% 75.39% 72.39% 57.84% - 77.07% - - - - - - -
Earnings before Tax (EBT) 135,417 168,773 - - - 88,909 92,559 197,264 - - - 102,307 - - - - - - -
Net income 112,543 137,626 - - - 72,041 78,148 167,295 88,110 - - 86,817 - - - - - - -
Net margin 33.73% 38.24% - - - 39.76% 41.74% 43.1% 48.29% - - 44.46% - - - - - - -
EPS - - - - - 0.2900 0.3200 0.6700 - - 0.6400 0.3500 - 0.6700 - - 0.6700 0.6800 0.6900
Dividend per Share - - - - - - - - - - - - - - - - - - -
Announcement Date 3/29/20 8/30/20 3/29/22 8/30/22 8/30/22 3/29/23 8/23/23 8/23/23 10/26/23 3/28/24 3/28/24 4/29/24 - - - - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 13.2% 12.1% 12.2% 12.3% 11.6% 10.7% 10.3% 9.76%
ROA (Net income/ Total Assets) 1.1% 1.01% 1.04% 1% 0.91% 0.82% 0.81% 0.76%
Assets 1 24,336,953 26,783,597 29,087,788 31,932,300 35,993,736 40,590,364 42,815,845 48,117,944
Book Value Per Share 2 8.860 9.060 9.950 10.90 11.80 13.10 14.10 15.20
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/29/20 3/26/21 3/29/22 3/29/23 3/28/24 - - -
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
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
20
Last Close Price
4.807 CNY
Average target price
5.873 CNY
Spread / Average Target
+22.19%
Consensus
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