China Datang Corporation Renewable Power Co., Limited (1798.HK)

Industry: Renewable Utilities 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
0QOH.L	27	naturenergie holdi	4,407	6.70	6.32	4.29	3.92	7.46	5.93
EDHN.SW	28	Energiedienst Hold	4,407	6.70	6.32	4.29	3.92	7.46	5.93
600905.SS	29	China Three Gorges	4,150	22.79	21.09	15.89	13.56	44.43	34.65
GULF-R.BK	30	Gulf Energy Develo	4,037	7.31	3.91	8.61	5.42	3.48	6.50
BEPC	31	Brookfield Renewab	3,777	-	-	9.44	9.44	27.84	29.29
600025.SS	32	Huaneng Lancang Ri	3,705	20.45	18.36	15.85	15.37	17.30	22.29
IFT.AX	33	Infratil Limited	3,473	18.76	16.52	11.48	10.20	-	105.90
1798.HK	34	China Datang Corpo	3,229	4.02	1.73	5.06	4.48	6.93	7.13
ENBR3.SA	35	EDP - Energias do	3,168	12.09	11.13	3.87	3.27	4.38	5.46
EDPR.LS	36	EDP Renováveis, S	2,854	-	-	9.92	9.12	10.69	41.92
LIGT3.SA	37	Light S.A.	2,583	0.94	0.94	3.29	2.54	10.85	5.69
000883.SZ	38	Hubei Energy Group	2,575	17.46	18.83	10.58	10.12	13.99	41.32
0EIB.L	39	Audax Renovables,	2,308	18.42	15.84	7.05	5.92	14.75	9.14
AURE3.SA	40	Auren Energia S.A.	2,271	-	-	9.93	9.93	39.37	24.43
FLNC	41	Fluence Energy, In	2,263	-	-	-	-	4.74	-
GXP	42	Great Plains Energ	2,166	-	-	10.75	10.70	-	20.22

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	12.09	11.13	9.03	7.52	10.69	14.68
Full Range Median Multiple	14.77	13.48	9.68	9.28	10.85	21.26
Industry Multiple	13.16	11.92	8.95	8.10	15.90	25.62
Market Implied Multiple	3.65	1.57	4.96	4.39	6.80	6.99
Company (1798.HK) Multiple	4.02	1.73	5.06	4.48	6.93	7.13
(*) Net Income / EBITDA / Revenue	648	1,508	2,394	2,704	1,748	1,700
Winsorized Enterprise Value	N/A	N/A	21,614	20,337	18,683	24,947
Full Range Median Enterprise Value	N/A	N/A	23,181	25,101	18,969	36,126
(-) Net Debt	9,514	9,514	9,514	9,514	9,514	9,514
Winsorized Equity Value	7,832	16,775	12,100	10,823	9,169	15,433
Full Range Median Equity Value	9,571	20,330	13,667	15,587	9,455	26,612
(/) Shares Outstanding	1,171	1,171	1,171	1,171	1,171	1,171
Winsorized Fair Value	$6.69	$14.32	$10.33	$9.24	$7.83	$13.18
Full Range Median Fair Value	$8.17	$17.36	$11.67	$13.31	$8.07	$22.72
Current Price	$2.02	$2.02	$2.02	$2.02	$2.02	$2.02
Upside / Downside	231.05%	609.10%	411.51%	357.52%	287.61%	552.39%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$4.68	$10.03	$7.23	$6.47	$5.48	$9.22
Buy / Don't Buy	BUY	BUY	BUY	BUY	BUY	BUY