China Petroleum & Chemical Corporation

SEHK-386

Basic

Market Cap
HK$817.12B
EV
HK$1,326.71B
Shares Out
121.7B
Revenue
CN¥3,209.5B
Employees
368,009

Margins

Gross
20.12%
EBITDA
5.61%
Operating
2.55%
Pre-Tax
2.54%
Net
1.75%
FCF
-0.15%

Returns (5Yr Avg)

ROA
3.05%
ROTA
6.45%
ROE
6.34%
ROCE
5.86%
ROIC
3.41%

Valuation (TTM)

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

Valuation (NTM)

Price Target
HK$5.47
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
CN¥167.37B
Net Debt
CN¥312.75B
Debt/Equity
0.49
EBIT/Interest
4.78

Growth (CAGR)

Rev 3Yr
14.7%
Rev 5Yr
1.45%
Rev 10Yr
1.28%
Dil EPS 3Yr
-7.14%
Dil EPS 5Yr
-0.34%
Dil EPS 10Yr
-0.84%
Rev Fwd 2Yr
2.6%
EBITDA Fwd 2Yr
5.27%
EPS Fwd 2Yr
8.65%
EPS LT Growth Est
2.12%

Dividends

Yield
—
Payout
73.45%
DPS
CN¥0.35
DPS Growth 3Yr
38.45%
DPS Growth 5Yr
-3.86%
DPS Growth 10Yr
3.7%
DPS Growth Fwd 2Yr
5.37%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Operating Revenues						2,899,682	2,049,456	2,679,500	3,257,356	3,146,873	3,147,554
Impairment of Oil, Gas & Mineral Properties	—					—	4,739	—	2,754	775	775
Other Revenues, Total						58,886	55,441	59,990	59,590	63,990	61,945
Total Revenues						2,958,568	2,104,897	2,739,490	3,316,946	3,210,863	3,209,499
Total Revenues % Chg.						2.4%	-28.9%	30.1%	21.1%	-3.2%	-3.8%
Cost of Goods Sold, Total						2,370,699	1,594,130	2,076,665	2,684,756	2,569,412	2,563,613
Gross Profit						587,869	510,767	662,825	632,190	641,451	645,886
Selling General & Admin Expenses, Total						138,181	141,321	158,470	159,394	167,592	168,526
Exploration / Drilling Costs, Total						10,510	9,716	12,382	10,591	11,055	10,439
Provision for Bad Debts	—	—	—	—	—	—	—	2,311	-1,084	-243	-257
Depreciation & Amortization						109,172	106,965	115,680	109,906	113,750	115,963
Impairment of Oil, Gas & Mineral Properties	—					—	4,739	—	2,754	775	775
Other Operating Expenses						248,106	233,714	266,257	271,157	262,828	268,516
Other Operating Expenses, Total						505,969	496,455	555,100	552,718	555,757	563,962
Operating Income						81,900	14,312	107,725	79,472	85,694	81,924
Interest Expense, Total						-17,088	-15,194	-15,018	-16,769	-18,069	-17,125
Interest And Investment Income						8,129	42,547	6,030	20,326	7,657	6,648
Net Interest Expenses						-8,959	27,353	-8,988	3,557	-10,412	-10,477
Income (Loss) On Equity Invest.						12,777	6,712	23,253	14,479	6,199	7,774
Currency Exchange Gains (Loss)						-170	885	276	529	1,319	1,251
Other Non Operating Income (Expenses)			—	—	—	—	—	—	—	—	—
EBT, Excl. Unusual Items						85,548	49,262	122,266	98,037	82,800	80,472
Impairment of Goodwill	—	—		—	—	—	—	—	—	—	—
Gain (Loss) On Sale Of Investments					—	—	-1,955	—	—	—	—
Gain (Loss) On Sale Of Assets						-1,829	398	-3,062	-722	2,995	2,995
Asset Writedown						-345	-7,866	-10,035	-2,915	-1,861	-1,861
Other Unusual Items	—	—	—			6,648	8,304	—	—	—	—
EBT, Incl. Unusual Items						90,022	48,143	109,169	94,400	83,934	81,606
Income Tax Expense						17,939	6,219	23,318	17,901	16,070	15,463
Earnings From Continuing Operations						72,083	41,924	85,851	76,499	67,864	66,143
Minority Interest						-14,590	-8,828	-13,876	-9,566	-9,554	-9,852
Net Income						57,493	33,096	71,975	66,933	58,310	56,291
Net Income to Common Incl Extra Items						57,493	33,096	71,975	66,933	58,310	56,291
Net Income to Common Excl. Extra Items						57,493	33,096	71,975	66,933	58,310	56,291
Total Shares Outstanding						121,071.2	121,071.2	121,111.8	119,896.4	119,349.3	121,699.8
Weighted Avg. Shares Outstanding						121,071.2	121,071.2	121,071.2	120,889.2	119,810.6	119,841.1
Weighted Avg. Shares Outstanding Dil						121,071.2	121,071.2	121,071.2	120,889.2	119,810.6	119,841.1
EPS						0.5	0.3	0.6	0.6	0.5	0.5
EPS Diluted						0.5	0.3	0.6	0.6	0.5	0.5
EBITDA						176,098	110,415	206,576	174,568	181,666	180,109
Effective Tax Rate						19.9%	12.9%	21.4%	19%	19.1%	18.9%