PETROCHINA COMPANY LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.72 HKD | +1.98% |
|
+1.31% | +49.61% |
| May. 15 | Benin provisionally reverses ban on oil exports from Niger | RE |
| May. 09 | European Natural Gas Prices Remain Subdued as End of Heating Season Cuts Gas Demand, ANZ Bank Says | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,017,460 | 714,287 | 854,827 | 870,020 | 1,243,631 | 1,754,120 | - | - |
| Enterprise Value (EV) 1 | 1,397,773 | 942,839 | 1,038,369 | 976,385 | 1,273,751 | 1,930,539 | 1,922,930 | 1,834,252 |
| P/E ratio | 14 x | 20.2 x | 5.65 x | 3.85 x | 5.33 x | 7.51 x | 7.61 x | 7.62 x |
| Yield | 4.11% | 8.66% | 8.02% | 13.4% | 9.38% | 6.7% | 6.28% | 6.29% |
| Capitalization / Revenue | 0.4 x | 0.37 x | 0.33 x | 0.27 x | 0.41 x | 0.57 x | 0.56 x | 0.55 x |
| EV / Revenue | 0.56 x | 0.49 x | 0.4 x | 0.3 x | 0.42 x | 0.62 x | 0.62 x | 0.58 x |
| EV / EBITDA | 3.74 x | 3.74 x | 2.76 x | 2.2 x | 2.73 x | 3.98 x | 3.94 x | 3.69 x |
| EV / FCF | 35 x | 14.9 x | 11.5 x | 6.48 x | 7.28 x | 11.1 x | 9.67 x | 10.2 x |
| FCF Yield | 2.86% | 6.69% | 8.7% | 15.4% | 13.7% | 9.05% | 10.3% | 9.81% |
| Price to Book | 0.52 x | 0.3 x | 0.41 x | 0.42 x | 0.59 x | 0.84 x | 0.79 x | 0.74 x |
| Nbr of stocks (in thousands) | 183,020,978 | 183,020,978 | 183,020,978 | 183,020,978 | 183,020,978 | 183,020,978 | - | - |
| Reference price 2 | 3.494 | 2.020 | 2.827 | 3.153 | 4.690 | 7.008 | 7.008 | 7.008 |
| Announcement Date | 3/26/20 | 3/25/21 | 3/31/22 | 3/29/23 | 3/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,516,810 | 1,933,836 | 2,614,349 | 3,239,167 | 3,011,012 | 3,103,778 | 3,120,282 | 3,163,968 |
| EBITDA 1 | 374,024 | 252,022 | 375,727 | 444,750 | 466,200 | 484,933 | 487,602 | 497,486 |
| EBIT 1 | 115,520 | 64,783 | 182,180 | 242,564 | 253,024 | 264,409 | 266,577 | 269,563 |
| Operating Margin | 4.59% | 3.35% | 6.97% | 7.49% | 8.4% | 8.52% | 8.54% | 8.52% |
| Earnings before Tax (EBT) 1 | 103,213 | 56,069 | 158,194 | 213,272 | 237,458 | 246,584 | 255,374 | 269,615 |
| Net income 1 | 45,677 | 19,002 | 92,170 | 149,375 | 161,144 | 171,320 | 171,923 | 177,189 |
| Net margin | 1.81% | 0.98% | 3.53% | 4.61% | 5.35% | 5.52% | 5.51% | 5.6% |
| EPS 2 | 0.2500 | 0.1000 | 0.5000 | 0.8200 | 0.8800 | 0.9331 | 0.9204 | 0.9193 |
| Free Cash Flow 1 | 39,924 | 63,117 | 90,291 | 150,745 | 175,030 | 174,704 | 198,887 | 179,993 |
| FCF margin | 1.59% | 3.26% | 3.45% | 4.65% | 5.81% | 5.63% | 6.37% | 5.69% |
| FCF Conversion (EBITDA) | 10.67% | 25.04% | 24.03% | 33.89% | 37.54% | 36.03% | 40.79% | 36.18% |
| FCF Conversion (Net income) | 87.41% | 332.16% | 97.96% | 100.92% | 108.62% | 101.97% | 115.68% | 101.58% |
| Dividend per Share 2 | 0.1437 | 0.1748 | 0.2266 | 0.4226 | 0.4400 | 0.4692 | 0.4403 | 0.4408 |
| Announcement Date | 3/26/20 | 3/25/21 | 3/31/22 | 3/29/23 | 3/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | 734,008 | 779,368 | 835,253 | 840,780 | 783,766 | 732,471 | 747,400 | - | 802,264 | 728,877 | 812,184 | 825,510 | 826,469 | 861,231 | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | -19,753 | 84,536 | 55,357 | 57,634 | 70,371 | 58,103 | 56,925 | 63,744 | 56,873 | 120,617 | 68,929 | 63,478 | 67,560 | 65,893 | 53,216 | 52,253 | - | - |
| Operating Margin | - | - | 7.54% | 7.39% | 8.43% | 6.91% | 7.26% | 8.7% | 7.61% | - | 8.59% | 8.71% | 8.32% | 7.98% | 6.44% | 6.07% | - | - |
| Earnings before Tax (EBT) | -18,523 | 74,592 | - | - | 61,563 | - | 39,924 | - | - | - | - | - | - | - | - | - | - | - |
| Net income | -29,986 | 48,988 | - | - | 43,328 | 37,878 | - | - | 41,648 | 85,276 | 46,379 | - | 45,683 | - | - | - | - | - |
| Net margin | - | - | - | - | 5.19% | 4.51% | - | - | 5.57% | - | 5.78% | - | 5.62% | - | - | - | - | - |
| EPS 2 | - | - | 0.0900 | 0.2100 | 0.2400 | 0.2100 | 0.1600 | 0.2400 | 0.2300 | - | 0.2500 | 0.1600 | 0.2500 | 0.2650 | 0.2250 | 0.1650 | 0.2300 | 0.2700 |
| Dividend per Share | 0.0874 | - | - | - | 0.2026 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/27/20 | 3/25/21 | 3/31/22 | 4/29/22 | 8/25/22 | 10/27/22 | 3/29/23 | 4/28/23 | 8/30/23 | 8/30/23 | 10/30/23 | 3/25/24 | 4/29/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 380,313 | 228,552 | 183,542 | 253,311 | 30,120 | 176,419 | 168,810 | 80,132 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.017 x | 0.9069 x | 0.4885 x | 0.5571 x | 0.0646 x | 0.3638 x | 0.3462 x | 0.1611 x |
| Free Cash Flow 1 | 39,924 | 63,117 | 90,291 | 119,461 | 175,030 | 174,704 | 198,887 | 179,993 |
| ROE (net income / shareholders' equity) | 3.74% | 1.6% | 7.44% | 11.3% | 11.4% | 11.1% | 10.6% | 10.3% |
| ROA (Net income/ Total Assets) | 1.77% | 0.73% | 3.69% | 5.77% | 5.94% | 6.15% | 6.07% | 5.69% |
| Assets 1 | 2,586,613 | 2,610,165 | 2,497,832 | 2,587,877 | 2,711,401 | 2,784,466 | 2,833,737 | 3,115,369 |
| Book Value Per Share 2 | 6.720 | 6.640 | 6.900 | 7.480 | 7.900 | 8.310 | 8.820 | 9.500 |
| Cash Flow per Share 2 | 1.960 | 1.740 | 1.870 | 2.160 | 2.490 | 1.340 | 2.200 | 2.040 |
| Capex 1 | 319,686 | 255,458 | 251,178 | 274,307 | 281,566 | 264,735 | 261,117 | 261,599 |
| Capex / Sales | 12.7% | 13.21% | 9.61% | 8.47% | 9.35% | 8.53% | 8.37% | 8.27% |
| Announcement Date | 3/26/20 | 3/25/21 | 3/31/22 | 3/29/23 | 3/25/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
7.008
CNY
Average target price
7.164
CNY
Spread / Average Target
+2.23%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +50.97% | 243B | |
| -9.39% | 1,930B | |
| +19.66% | 472B | |
| +9.06% | 228B | |
| +8.69% | 168B | |
| -1.48% | 95.37B | |
| -7.25% | 81.89B | |
| +28.55% | 51.57B | |
| -3.39% | 51.49B | |
| -.--% | 51.43B |
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