CITIC Limited

SEHK-267

Basic

Market Cap
HK$206.54B
EV
HK$1,901.68B
Shares Out
29.09B
Revenue
CN¥882.68B
Employees
188,862

Margins

Gross
56.08%
EBITDA
37.43%
Operating
34.82%
Pre-Tax
13.97%
Net
6.52%
FCF
-5.34%

Returns (5Yr Avg)

ROA
0.63%
ROTA
5.87%
ROE
5.78%
ROCE
5.85%
ROIC
2.79%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
HK$9.41
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
CN¥1,764.51B
Net Debt
CN¥905.1B
Debt/Equity
2
EBIT/Interest
1.52

Growth (CAGR)

Rev 3Yr
10.48%
Rev 5Yr
7.09%
Rev 10Yr
6.73%
Dil EPS 3Yr
3.81%
Dil EPS 5Yr
4.75%
Dil EPS 10Yr
1.14%
Rev Fwd 2Yr
8.23%
EBITDA Fwd 2Yr
13.5%
EPS Fwd 2Yr
9.39%
EPS LT Growth Est
39.9%

Dividends

Yield
—
Payout
26.01%
DPS
CN¥0.52
DPS Growth 3Yr
5.15%
DPS Growth 5Yr
6.71%
DPS Growth 10Yr
4.95%
DPS Growth Fwd 2Yr
8.68%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23
Operating Revenues						345,666.7	310,389.8	414,163.7	475,752	490,626
Finance Div. Revenues	—	—	—	—	—	—	—	20,476.2	20,434	-8,109
Impairment of Oil, Gas & Mineral Properties						—	—	—	—	—
Gain (Loss) on Sale of Investment, Total						11,946.8	13,366.3	—	17,320	58,018
Interest And Invest. Income						295,110.5	283,750.6	303,061.8	330,378	338,914
Other Revenues, Total						369.9	-234.9	-33.4	1,019	3,234
Total Revenues						653,093.9	607,271.8	737,668.3	844,903	882,683
Total Revenues % Chg.						7.7%	-7%	21.5%	14.5%	4.5%
Cost of Goods Sold, Total						331,173.3	304,339	329,100.3	364,937	387,666
Finance Div. Operating Exp.	—	—	—	—	—	—	—	82,412.6	—	—
Gross Profit						321,920.6	302,932.8	326,155.3	479,966	495,017
Selling General & Admin Expenses, Total	—	—	—	—	—	544.2	116.2	10.6	—	—
Provision for Bad Debts						1,290.3	2,314.7	1,719.9	79,005	65,615
Impairment of Oil, Gas & Mineral Properties						—	0.8	—	—	—
Other Operating Expenses						92,290.4	74,527	84,205.9	113,471	122,071
Other Operating Expenses, Total						94,124.9	76,958.8	85,936.3	192,476	187,686
Operating Income						227,795.7	225,974	240,219	287,490	307,331
Interest Expense, Total						-154,095.6	-148,040.2	-162,190	-181,062	-202,249
Interest And Investment Income						2,023	1,066	1,659.5	1,407	1,832
Net Interest Expenses						-152,072.6	-146,974.2	-160,530.5	-179,655	-200,417
Income (Loss) On Equity Invest.						12,113.9	12,203.5	14,315.7	11,166	9,403
Currency Exchange Gains (Loss)						2,366.1	1,251.3	636.6	444	535
Other Non Operating Income (Expenses)						-498.6	-2,340.8	2,677.6	4,885	4,758
EBT, Excl. Unusual Items						89,704.5	90,113.8	97,318.4	124,330	121,610
Impairment of Goodwill	—	—	—	—		-180.5	-544.8	—	-4,363	-26
Gain (Loss) On Sale Of Investments						-4,848.4	-9,261.5	1,631	-2,790	2,314
Gain (Loss) On Sale Of Assets						1,820.2	2,968.1	1,135.4	10,977	74
Asset Writedown						-718.4	-994.4	-1,342.5	-862	-685
Other Unusual Items	—	—				17	—	—	—	—
EBT, Incl. Unusual Items						85,794.3	82,281.2	98,742.4	127,292	123,287
Income Tax Expense						15,929.3	14,137.6	17,005.5	21,469	18,013
Earnings From Continuing Operations						69,865	68,143.6	81,736.9	105,823	105,274
Earnings Of Discontinued Operations	—			—	—	—	—	—	—	—
Minority Interest						-21,699.9	-20,461.3	-24,498.7	-40,892	-47,680
Net Income						48,165.1	47,682.3	57,238.2	64,931	57,594
Preferred Dividend and Other Adjustments						—	—	—	—	—
Net Income to Common Incl Extra Items						48,165.1	47,682.3	57,238.2	64,931	57,594
Net Income to Common Excl. Extra Items						48,165.1	47,682.3	57,238.2	64,931	57,594
Total Shares Outstanding						29,090.3	29,090.3	29,090.3	29,090.3	29,090.3
Weighted Avg. Shares Outstanding						29,090	29,090	29,090	29,090	29,090
Weighted Avg. Shares Outstanding Dil						29,090	29,090	29,090	29,090	29,090
EPS						1.7	1.6	2	2.2	2
EPS Diluted						1.7	1.6	2	2.2	2
EBITDA						240,830.8	237,051.7	251,411.2	307,730	330,390
Effective Tax Rate						18.6%	17.2%	17.2%	16.9%	14.6%