China Communications Services Corporation Limited

DB:CMW Stock Report

Market Cap: €3.8b

China Communications Services Valuation

Is CMW undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CMW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CMW (€0.53) is trading below our estimate of fair value (€2.18)

Significantly Below Fair Value: CMW is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CMW?

Key metric: As CMW is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CMW. This is calculated by dividing CMW's market cap by their current earnings.
What is CMW's PE Ratio?
PE Ratio7.9x
EarningsCN¥3.67b
Market CapCN¥29.02b

Price to Earnings Ratio vs Peers

How does CMW's PE Ratio compare to its peers?

The above table shows the PE ratio for CMW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average46.8x
HOT HOCHTIEF
13.4x1.9%€9.7b
NCH2 thyssenkrupp nucera KGaA
119.1x35.2%€1.3b
B5A0 BAUER
32.3x38.2%€176.5m
GIL DMG MORI
22.3xn/a€3.6b
CMW China Communications Services
7.9x6.0%€30.9b

Price-To-Earnings vs Peers: CMW is good value based on its Price-To-Earnings Ratio (7.9x) compared to the peer average (46.8x).

Price to Earnings Ratio vs Industry

How does CMW's PE Ratio compare vs other companies in the European Construction Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CMW 7.9xIndustry Avg. 13.2xNo. of Companies22PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CMW is good value based on its Price-To-Earnings Ratio (7.9x) compared to the European Construction industry average (13.2x).

Price to Earnings Ratio vs Fair Ratio

What is CMW's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CMW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.9x
Fair PE Ratio14.3x

Price-To-Earnings vs Fair Ratio: CMW is good value based on its Price-To-Earnings Ratio (7.9x) compared to the estimated Fair Price-To-Earnings Ratio (14.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CMW forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.53
€0.59
+11.1%
15.6%€0.78€0.53n/a6
Dec ’25€0.48
€0.58
+21.0%
14.4%€0.78€0.52n/a7
Nov ’25€0.48
€0.55
+15.5%
17.8%€0.76€0.41n/a7
Oct ’25€0.47
€0.55
+16.9%
17.8%€0.76€0.41n/a7
Sep ’25€0.46
€0.55
+21.2%
17.6%€0.75€0.40n/a7
Aug ’25€0.47
€0.55
+17.1%
16.6%€0.74€0.41n/a7
Jul ’25€0.49
€0.55
+12.5%
16.0%€0.74€0.41n/a8
Jun ’25€0.44
€0.55
+24.9%
16.0%€0.74€0.41n/a8
May ’25€0.43
€0.54
+25.2%
16.3%€0.74€0.41n/a8
Apr ’25€0.42
€0.55
+31.2%
15.4%€0.75€0.41n/a9
Mar ’25€0.39
€0.53
+37.4%
11.2%€0.63€0.41n/a9
Feb ’25€0.37
€0.54
+47.2%
11.1%€0.63€0.41n/a10
Jan ’25€0.36
€0.54
+49.1%
12.6%€0.67€0.41n/a10
Dec ’24€0.37
€0.54
+44.8%
12.4%€0.67€0.41€0.4810
Nov ’24€0.37
€0.54
+44.0%
12.4%€0.67€0.41€0.4810
Oct ’24€0.39
€0.54
+39.5%
12.4%€0.67€0.41€0.4710
Sep ’24€0.40
€0.54
+33.4%
12.4%€0.67€0.41€0.4610
Aug ’24€0.41
€0.52
+27.4%
13.6%€0.67€0.41€0.479
Jul ’24€0.44
€0.53
+20.8%
16.4%€0.69€0.39€0.4910
Jun ’24€0.45
€0.54
+21.2%
16.0%€0.72€0.40€0.4411
May ’24€0.48
€0.54
+12.1%
16.0%€0.72€0.40€0.4311
Apr ’24€0.44
€0.55
+25.6%
15.9%€0.73€0.41€0.4211
Mar ’24€0.39
€0.54
+38.9%
16.0%€0.74€0.40€0.3912
Feb ’24€0.34
€0.55
+60.6%
16.2%€0.75€0.41€0.3712
Jan ’24€0.33
€0.54
+63.9%
15.3%€0.74€0.40€0.3612
Dec ’23€0.31
€0.53
+69.5%
14.2%€0.70€0.40€0.3712

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 05:32
End of Day Share Price 2024/12/23 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

China Communications Services Corporation Limited is covered by 34 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Pak Kin LaiABCI Securities Company Limited
Sung-yan ChanABCI Securities Company Limited
Jones KuBarclays