China State Construction Development Holdings Limited (0830.HK)

Industry: Engineering & Construction Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
000065.SZ	120	Norinco Internatio	2,111	15.01	14.80	12.01	11.89	13.18	13.96
SSK.JO	121	Stefanutti Stocks	2,091	3.01	3.38	0.39	0.40	0.47	0.50
600284.SS	122	Shanghai Pudong Co	2,070	26.10	26.63	21.23	19.53	51.33	20.65
DNYA.TA	123	Danya Cebus Ltd.	2,028	24.05	21.65	11.65	10.11	17.57	16.55
YIT.HE	124	YIT Oyj	2,021	-	-	49.53	66.61	56.61	-
000928.SZ	125	Sinosteel Engineer	2,018	11.87	11.03	4.07	3.70	6.99	4.62
013580.KS	126	Kyeryong Construct	1,979	3.19	3.36	4.35	4.37	3.69	6.16
0830.HK	127	China State Constr	1,978	2.79	1.78	2.52	2.52	2.35	2.79
B5A.DE	128	Bauer AG	1,903	8.96	6.14	2.13	1.86	3.58	3.01
003070.KS	129	Kolon Global Corpo	1,891	18.49	25.93	3.39	3.18	10.38	-
AMRC	130	Ameresco, Inc.	1,884	28.06	27.08	15.53	13.31	21.37	24.63
1459.HK	131	Jujiang Constructi	1,882	-	-	7.99	10.81	-	-
1627.HK	132	Able Engineering H	1,871	2.92	2.24	-0.23	-0.16	-0.46	-0.21
0385.HK	133	Chinney Alliance G	1,855	1.50	1.69	0.44	0.42	0.99	0.64
GSJ.MC	134	Grupo Empresarial	1,830	11.55	15.32	0.05	0.06	0.08	0.07
KALPATPOWR.NS	135	Kalpataru Power Tr	1,811	18.38	18.38	7.76	7.76	11.59	10.75

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	11.55	11.03	4.21	4.04	6.99	4.62
Full Range Median Multiple	11.87	14.80	6.05	6.06	10.38	6.16
Industry Multiple	13.31	13.66	10.04	11.00	15.22	9.23
Market Implied Multiple	2.26	1.44	2.15	2.15	2.01	2.39
Company (0830.HK) Multiple	2.79	1.78	2.52	2.52	2.35	2.79
(*) Net Income / EBITDA / Revenue	152	238	220	220	237	199
Winsorized Enterprise Value	N/A	N/A	929	890	1,655	919
Full Range Median Enterprise Value	N/A	N/A	1,335	1,337	2,456	1,225
(-) Net Debt	132	132	132	132	132	132
Winsorized Equity Value	1,752	2,621	796	758	1,522	786
Full Range Median Equity Value	1,800	3,517	1,202	1,204	2,323	1,093
(/) Shares Outstanding	290	290	290	290	290	290
Winsorized Fair Value	$6.04	$9.04	$2.75	$2.61	$5.25	$2.71
Full Range Median Fair Value	$6.21	$12.13	$4.15	$4.15	$8.01	$3.77
Current Price	$1.18	$1.18	$1.18	$1.18	$1.18	$1.18
Upside / Downside	412.17%	666.16%	132.72%	121.46%	344.99%	129.80%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$4.23	$6.33	$1.92	$1.83	$3.68	$1.90
Buy / Don't Buy	BUY	BUY	BUY	BUY	BUY	BUY