Stock 601668 CHINA STATE CONSTRUCTION ENGINEERING CORPORATION LIMITED
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Financials China State Construction Engineering Corporation Limited

Equities

601668

CNE100000F46

Construction & Engineering

End-of-day quote Shanghai S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
5.35 CNY +1.13% Intraday chart for China State Construction Engineering Corporation Limited -0.19% +11.23%
Apr. 19 China State Construction Engineering Appoints CFO MT
Apr. 19 China State Construction Engineering's 2023 Profit Rises 6.5%; EPS Beats Estimates MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 235,903 208,566 209,741 227,704 201,633 222,667 - -
Enterprise Value (EV) 1 408,374 411,852 457,781 591,556 645,553 592,175 630,651 222,667
P/E ratio 5.85 x 4.64 x 4 x 4.41 x 3.67 x 3.85 x 3.53 x 3.4 x
Yield 3.29% 4.32% 5% 4.65% 5.64% 5.31% 5.87% 6.23%
Capitalization / Revenue 0.17 x 0.13 x 0.11 x 0.11 x 0.09 x 0.09 x 0.09 x 0.08 x
EV / Revenue 0.29 x 0.26 x 0.24 x 0.29 x 0.28 x 0.24 x 0.24 x 0.08 x
EV / EBITDA 4.48 x 4.06 x 4.24 x 6.25 x 6.35 x 4.34 x 4.3 x 1.48 x
EV / FCF - - - -30.1 x -31.5 x 2.44 x 6.57 x 2.22 x
FCF Yield - - - -3.32% -3.17% 41% 15.2% 45%
Price to Book 0.92 x 0.72 x 0.63 x 0.61 x 0.48 x 0.47 x 0.43 x 0.38 x
Nbr of stocks (in thousands) 41,975,630 41,965,072 41,948,168 41,934,433 41,919,514 41,619,952 - -
Reference price 2 5.620 4.970 5.000 5.430 4.810 5.350 5.350 5.350
Announcement Date 4/25/20 4/16/21 4/15/22 4/17/23 4/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,419,837 1,615,023 1,891,339 2,055,052 2,265,529 2,423,224 2,609,987 2,776,226
EBITDA 1 91,124 101,327 107,982 94,620 101,642 136,363 146,810 150,930
EBIT 1 83,795 94,482 100,601 86,733 93,132 100,175 113,982 113,042
Operating Margin 5.9% 5.85% 5.32% 4.22% 4.11% 4.13% 4.37% 4.07%
Earnings before Tax (EBT) 1 81,468 94,291 100,886 88,835 92,995 100,215 108,238 113,310
Net income 1 41,881 44,944 51,408 50,950 54,264 57,567 61,876 65,665
Net margin 2.95% 2.78% 2.72% 2.48% 2.4% 2.38% 2.37% 2.37%
EPS 2 0.9600 1.070 1.250 1.230 1.310 1.389 1.517 1.575
Free Cash Flow 1 - - - -19,637 -20,473 242,841 96,024 100,089
FCF margin - - - -0.96% -0.9% 10.02% 3.68% 3.61%
FCF Conversion (EBITDA) - - - - - 178.08% 65.41% 66.31%
FCF Conversion (Net income) - - - - - 421.84% 155.19% 152.42%
Dividend per Share 2 0.1850 0.2147 0.2500 0.2527 0.2714 0.2839 0.3141 0.3333
Announcement Date 4/25/20 4/16/21 4/15/22 4/17/23 4/18/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 400,332 554,291 485,439 575,332 474,503 519,778 524,828 588,485 557,929 594,287 579,200 686,500 566,200 620,200
EBITDA - - - - - - - - - - - - - -
EBIT 20,651 28,334 21,368 29,029 20,611 15,725 22,489 26,317 - - - - - -
Operating Margin 5.16% 5.11% 4.4% 5.05% 4.34% 3.03% 4.29% 4.47% - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - -
EPS 0.3000 0.3400 0.3100 0.3700 0.3700 0.1800 0.3500 0.3500 - - - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 10/26/21 4/15/22 4/29/22 8/29/22 10/29/22 4/17/23 4/27/23 8/29/23 10/26/23 4/18/24 - - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 172,471 203,286 248,040 363,852 443,920 369,508 407,984 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.893 x 2.006 x 2.297 x 3.845 x 4.368 x 2.71 x 2.779 x -
Free Cash Flow 1 - - - -19,637 -20,473 242,841 96,024 100,089
ROE (net income / shareholders' equity) 15.6% 15.5% 15.9% 13.9% 13.4% 12% 12.3% 11%
ROA (Net income/ Total Assets) 2.15% 2.13% 2.24% 2.02% - 2% 2.14% 2.03%
Assets 1 1,947,972 2,113,035 2,290,282 2,524,167 - 2,878,351 2,891,424 3,229,447
Book Value Per Share 2 6.100 6.920 7.960 8.930 9.980 11.40 12.50 14.00
Cash Flow per Share 2 -0.8200 0.4800 0.3400 0.0900 0.2600 1.430 1.530 1.650
Capex 1 18,250 46,220 28,321 23,466 31,503 27,685 34,319 13,466
Capex / Sales 1.29% 2.86% 1.5% 1.14% 1.39% 1.14% 1.31% 0.49%
Announcement Date 4/25/20 4/16/21 4/15/22 4/17/23 4/18/24 - - -
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

Ratings for China State Construction Engineering Corporation Limited

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
5.35 CNY
Average target price
7.451 CNY
Spread / Average Target
+39.27%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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