CITIC Telecom International Holdings Limited

1883.HK · Communication Services · Telecom Services · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

2.75B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

1.83B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

1.82B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

2.13B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.12B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.90×

the ratio the screener ranks by

Margin of Safety

+47.3%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 2.75B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)2.96B USD
−②Net Debt Today207.39M USD
+③Growth Value0 USD
=Value2.75B USD

EPV of the Operations (NOPAT over WACC)

2.96B USD

Net debt today

-207.39M USD

Growth Value

0 USD

Value

2.75B USD

①EPV (earnings power value)

2.96B USD

②Net Debt Today

207.39M USD

③Growth Value

0 USD

Market value

Market Cap1.12B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+59.1%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 1.83B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE974.64M USD
+②Equity at Year 15, Today852.77M USD
=Value1.83B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

974.64M USD

②Equity at Year 15, Today

852.77M USD

Market value

Market Cap1.12B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+38.5%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 1.82B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF1.19B USD
+②Invested Capital at Year 15, Today836.88M USD
−③Net Debt Today207.39M USD
=Value1.82B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

1.19B USD

②Invested Capital at Year 15, Today

836.88M USD

③Net Debt Today

207.39M USD

Market value

Market Cap1.12B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+38.1%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 5.16%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.22×Market Risk Premium 6.00%= 5.83%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 24.83M USDPretax Income 145.12M USD= 17.11%

The tax the interest saves.

Interest Expense =EBIT 164.55M USD−Pretax Income 145.12M USD= 19.43M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 19.43M USDTotal Debt 457.62M USD×(1 − Tax Rate for WACC 17.11%)= 3.52%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 457.62M USDMarket Cap + Total Debt 1.12B USD + 457.62M USD= 28.93%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 71.07%×Cost of Equity 5.83%+Debt Weight 28.93%×Cost of Debt 3.52%= 5.16%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2025-12-31.

Total Assets 2.19B USD − Total Liabilities 752.10M USD = Book Value Today 1.43B USD

Total Debt 457.62M USD − Cash and Short-Term Investments 250.23M USD = Net Debt Today 207.39M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.0%at most 5%passes3,700,891,382 / 3,700,035,382
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets7.9%at least -10.0%passes(291.53M USD − 118.36M USD) ÷ 2.19B USD
Price to bookMarket Cap ÷ Book Value Today0.78×at most 3×passes1.12B USD ÷ 1.43B USD
Operating marginOperating Income ÷ Revenue12.8%above 10.0%passes157.73M USD ÷ 1.23B USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-0.3%above 10.0%does not pass1.23B USD / 1.23B USD
Net cash(Cash − Total Debt) ÷ Market Cap-18.4%above -30%passes(250.23M USD − 457.62M USD) ÷ 1.12B USD
Operating efficiencyOperating Income ÷ Gross Profit34.1%above 25.0%passes157.73M USD ÷ 463.02M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

2.38 HKD

Enterprise value

10.36B HKD

the provider's own figure

EV / EBITDA

5.85×

Price / book

0.80×

the provider's book

Price / earnings

9.52×

Return on equity

8.5%

the provider's figure, not this page's

Profit margin

9.7%

Revenue growth

-1.2%

Analyst target, mean

3.30 HKD

Analysts

1

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

1.30B1.28B1.23B1.23B

Gross profit

556.85M538.44M457.85M463.02M

Operating income

219.86M212.84M161.69M157.73M

EBITDA

operating income before depreciation and amortisation

343.67M338.03M264.96M252.42M

Pretax income

192.12M192.85M139.51M145.12M

Net income

152.95M157.74M117.33M118.36M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

152.95M157.74M117.33M118.36M

R&D

————
Balance sheet, year end

Total assets

2.33B2.22B2.25B2.19B

Total liabilities

990.16M832.78M854.59M752.10M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.33B1.38B1.38B1.42B

Total debt

638.79M547.67M536.63M457.62M

Cash and equivalents

255.05M221.17M207.72M250.23M

Net PP&E

fixed assets after depreciation

375.26M313.04M308.42M290.88M

Working capital

current assets less current liabilities

108.39M106.48M-276.83M3.99M
Cash flow

Operating cash flow

349.70M241.03M201.14M291.53M

Capital expenditure

paid out, so below zero

-41.48M-39.85M-52.09M-47.09M

Depreciation and amortisation

117.38M111.48M93.74M87.87M

Free cash flow

operating cash flow plus capital expenditure

308.22M201.18M149.05M244.44M