China Telecom Corporation Limited

SEHK-728

Basic

Market Cap
HK$592.03B
EV
HK$569.63B
Shares Out
91.51B
Revenue
CN¥512.75B
Employees
278,539

Margins

Gross
28.76%
EBITDA
22.17%
Operating
7.19%
Pre-Tax
7.8%
Net
6.06%
FCF
7.87%

Returns (5Yr Avg)

ROA
3.42%
ROTA
6.79%
ROE
6.36%
ROCE
7.13%
ROIC
3.57%

Valuation (TTM)

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

Valuation (NTM)

Price Target
HK$5.56
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
CN¥87.93B
Net Debt
-CN¥24.94B
Debt/Equity
0.14
EBIT/Interest
15.39

Growth (CAGR)

Rev 3Yr
8.17%
Rev 5Yr
6.36%
Rev 10Yr
4.6%
Dil EPS 3Yr
7.37%
Dil EPS 5Yr
4.72%
Dil EPS 10Yr
4.29%
Rev Fwd 2Yr
6.3%
EBITDA Fwd 2Yr
2.6%
EPS Fwd 2Yr
8.87%
EPS LT Growth Est
13%

Dividends

Yield
—
Payout
68.71%
DPS
CN¥0.23
DPS Growth 3Yr
30.77%
DPS Growth 5Yr
16.26%
DPS Growth 10Yr
11.78%
DPS Growth Fwd 2Yr
11.37%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Total Revenues						375,734	393,561	439,553	474,967.2	507,842.7	512,747.7
Total Revenues % Chg.						-0.4%	4.7%	11.7%	8.1%	6.9%	5.5%
Cost of Goods Sold, Total						173,366	185,506	209,397	339,879	361,428.8	365,301.8
Gross Profit						202,368	208,055	230,156	135,088.3	146,413.9	147,445.9
Selling General & Admin Expenses, Total						57,361	55,059	61,154	87,381.2	91,832.1	92,345.1
Provision for Bad Debts	—	—	—	—	—	—	—	—	2,105.2	3,345.2	3,345.2
R&D Expenses	—	—	—	—	—	—	—	—	10,560	13,051.6	13,051.6
Depreciation & Amortization						88,145	90,240	92,966	—	—	676
Other Operating Expenses						27,792	29,074	45,088	-2,901.4	1,861.8	1,154.8
Other Operating Expenses, Total						173,298	174,373	199,208	97,145	110,090.7	110,572.7
Operating Income						29,070	33,682	30,948	37,943.2	36,323.3	36,873.3
Interest Expense, Total						-4,090	-3,433	-2,404	-1,881.1	-2,545.3	-2,395.3
Interest And Investment Income						522	642	3,348	4,072.9	4,742.1	4,724.1
Net Interest Expenses						-3,568	-2,791	944	2,191.8	2,196.8	2,328.8
Income (Loss) On Equity Invest.						1,573	1,701	1,966	—	—	122
Currency Exchange Gains (Loss)						-41	-163	7	85.2	-26.9	-26.9
Other Non Operating Income (Expenses)	—	—	—	—	—	—	—	—	1,773	-201.9	-201.9
EBT, Excl. Unusual Items						27,034	32,429	33,865	41,993.2	38,291.3	39,095.3
Gain (Loss) On Sale Of Investments	—	—	—	—	—	—	—	—	-90.7	-883.3	-883.3
Gain (Loss) On Sale Of Assets	—		—	—	—	—	—	—	-6,082.5	-4,060.3	-4,060.3
Asset Writedown	—	—	—	—	—	—	-5,042	—	-105.8	-81.5	-81.5
Other Unusual Items	—	—	—	—	—	—	—	—	—	5,938.4	5,938.4
EBT, Incl. Unusual Items						27,034	27,387	33,865	35,714.2	39,204.5	40,008.5
Income Tax Expense						6,322	6,307	7,716	8,037.7	8,776.1	8,924.1
Earnings From Continuing Operations						20,712	21,080	26,149	27,676.4	30,428.4	31,084.4
Minority Interest						-195	-230	-200	-83	17.3	-25.7
Net Income						20,517	20,850	25,949	27,593.4	30,445.7	31,058.7
Net Income to Common Incl Extra Items						20,517	20,850	25,949	27,593.4	30,445.7	31,058.7
Net Income to Common Excl. Extra Items						20,517	20,850	25,949	27,593.4	30,445.7	31,058.7
Total Shares Outstanding						80,932.4	80,932.4	91,507.1	91,507.1	91,507.1	91,507.1
Weighted Avg. Shares Outstanding						80,932.4	80,932.4	84,442.4	91,507.1	91,507.1	91,507.1
Weighted Avg. Shares Outstanding Dil						80,932.4	80,932.4	84,442.4	91,507.1	91,507.1	91,507.1
EPS						0.3	0.3	0.3	0.3	0.3	0.3
EPS Diluted						0.3	0.3	0.3	0.3	0.3	0.3
EBITDA						100,028	104,124	102,454	118,106.7	112,428	113,654
Effective Tax Rate						23.4%	23%	22.8%	22.5%	22.4%	22.3%