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PetroChina

DB:PC6
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PC6
DB
HK$872B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

PetroChina Company Limited, together with its subsidiaries, engages in a range of petroleum related products, services, and activities in Mainland China and internationally. The last earnings update was 4 days ago. More info.


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  • PetroChina has significant price volatility in the past 3 months.
PC6 Share Price and Events
7 Day Returns
4.9%
DB:PC6
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-47.5%
DB:PC6
21.9%
DE Oil and Gas
-17.7%
DE Market
PC6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PetroChina (PC6) 4.9% -14.3% -32.3% -47.5% -55.8% -71%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • PC6 underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • PC6 underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
PC6
Industry
5yr Volatility vs Market

PC6 Value

 Is PetroChina undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PetroChina to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PetroChina.

DB:PC6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:PC6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 25%) (79.91%))
1.196
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.196 * 6.33%)
7.18%

Discounted Cash Flow Calculation for DB:PC6 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PetroChina is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:PC6 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 7.18%)
2020 1,309.14 Analyst x7 1,221.45
2021 13,288.86 Analyst x7 11,568.09
2022 36,744.00 Analyst x3 29,843.33
2023 31,830.12 Est @ -13.37% 24,120.49
2024 28,813.16 Est @ -9.48% 20,371.63
2025 26,867.75 Est @ -6.75% 17,723.65
2026 25,566.47 Est @ -4.84% 15,735.47
2027 24,669.78 Est @ -3.51% 14,166.45
2028 24,035.25 Est @ -2.57% 12,877.49
2029 23,574.38 Est @ -1.92% 11,784.47
Present value of next 10 years cash flows CN¥159,412.00
DB:PC6 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥23,574.38 × (1 + -0.39%) ÷ (7.18% – -0.39%)
CN¥310,211.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥310,211.27 ÷ (1 + 7.18%)10
CN¥155,069.80
DB:PC6 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥159,412.00 + CN¥155,069.80
CN¥314,481.80
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥314,481.80 / 183,020.98
CN¥1.72
DB:PC6 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:857)
1.092
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥1.72 x 1.092
HK$1.88
Non-primary Listing Adjustment Factor 1 share in DB:PC6 represents 0.1145x of SEHK:857
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.1145x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 1.88 x 0.1145
€0.21
Value per share (EUR) From above. €0.21
Current discount Discount to share price of €0.30
= -1 x (€0.30 - €0.21) / €0.21
-39.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of PetroChina is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PetroChina's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PetroChina's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PC6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥0.25
SEHK:857 Share Price ** SEHK (2020-03-30) in HKD HK$2.62
SEHK:857 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥2.4
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PetroChina.

DB:PC6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:857 Share Price ÷ EPS (both in CNY)

= 2.4 ÷ 0.25

9.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PetroChina is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • PetroChina is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does PetroChina's expected growth come at a high price?
Raw Data
DB:PC6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
3.5%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:PC6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.61x ÷ 3.5%

2.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PetroChina is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on PetroChina's assets?
Raw Data
DB:PC6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥6.72
SEHK:857 Share Price * SEHK (2020-03-30) in HKD HK$2.62
SEHK:857 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥2.4
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:PC6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:857 Share Price ÷ Book Value per Share (both in CNY)

= 2.4 ÷ 6.72

0.36x

* Primary Listing of PetroChina.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PetroChina is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess PetroChina's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. PetroChina has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PC6 Future Performance

 How is PetroChina expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PetroChina expected to grow at an attractive rate?
  • PetroChina's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • PetroChina's earnings growth is positive but not above the Germany market average.
  • PetroChina's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PC6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PC6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 3.5%
DB:PC6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 0%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:PC6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PC6 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 2,702,200 336,793 63,838 1
2023-12-31 2,646,199 318,847 58,153 1
2022-12-31 2,447,870 308,928 47,929 6
2021-12-31 2,233,024 291,992 25,467 13
2020-12-31 2,080,983 249,557 11,298 12
2020-03-30
DB:PC6 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 2,516,810 359,610 45,682
2019-09-30 2,441,273 331,907 41,183
2019-06-30 2,430,210 338,123 53,573
2019-03-31 2,401,975 351,785 52,693
2018-12-31 2,374,934 353,256 53,036
2018-09-30 2,284,903 381,414 54,093
2018-06-30 2,159,618 369,689 37,563
2018-03-31 2,064,985 355,469 27,250
2017-12-31 2,015,890 366,655 22,798
2017-09-30 1,924,170 318,557 23,492
2017-06-30 1,853,745 298,170 20,002
2017-03-31 1,757,632 277,135 27,343

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PetroChina's earnings are expected to grow by 3.5% yearly, however this is not considered high growth (20% yearly).
  • PetroChina's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:PC6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from PetroChina Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PC6 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.35 0.35 0.35 1.00
2023-12-31 0.32 0.32 0.32 1.00
2022-12-31 0.23 0.36 0.05 7.00
2021-12-31 0.12 0.26 -0.09 12.00
2020-12-31 0.02 0.17 -0.33 13.00
2020-03-30
DB:PC6 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 0.25
2019-09-30 0.23
2019-06-30 0.29
2019-03-31 0.29
2018-12-31 0.29
2018-09-30 0.30
2018-06-30 0.21
2018-03-31 0.15
2017-12-31 0.12
2017-09-30 0.12
2017-06-30 0.11
2017-03-31 0.15

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PetroChina is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PetroChina's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PetroChina has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PC6 Past Performance

  How has PetroChina performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PetroChina's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PetroChina's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • PetroChina's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PetroChina's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
PetroChina's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PetroChina Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PC6 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,516,810.00 45,682.00 234,789.00
2019-09-30 2,441,273.00 41,183.00 232,065.00
2019-06-30 2,430,210.00 53,573.00 231,877.00
2019-03-31 2,401,975.00 52,693.00 228,701.00
2018-12-31 2,374,934.00 53,036.00 229,015.00
2018-09-30 2,284,903.00 54,093.00 229,861.00
2018-06-30 2,159,618.00 37,563.00 226,143.00
2018-03-31 2,064,985.00 27,250.00 218,928.00
2017-12-31 2,015,890.00 22,798.00 216,855.00
2017-09-30 1,924,170.00 23,492.00 198,762.00
2017-06-30 1,853,745.00 20,002.00 201,390.00
2017-03-31 1,757,632.00 27,343.00 200,694.00
2016-12-31 1,616,903.00 7,857.00 200,804.00
2016-09-30 1,570,760.00 6,647.00 196,166.00
2016-06-30 1,586,871.00 10,642.00 187,342.00
2016-03-31 1,667,922.00 15,582.00 198,331.00
2015-12-31 1,725,428.00 35,517.00 198,124.00
2015-09-30 1,833,519.00 41,726.00 200,996.00
2015-06-30 2,006,618.00 64,454.00 203,551.00
2015-03-31 2,164,351.00 79,074.00 204,569.00
2014-12-31 2,282,962.00 107,172.00 204,236.00
2014-09-30 2,329,888.00 130,358.00 197,463.00
2014-06-30 2,310,996.00 132,201.00 210,905.00
2014-03-31 2,246,808.00 127,830.00 219,828.00
2013-12-31 2,258,124.00 129,599.00 208,708.00
2013-09-30 2,279,811.00 123,658.00 219,013.00
2013-06-30 2,249,731.00 118,822.00 213,360.00
2013-03-31 2,209,912.00 112,190.00 208,292.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PetroChina has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PetroChina used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • PetroChina has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PetroChina's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PetroChina has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PC6 Health

 How is PetroChina's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PetroChina's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PetroChina's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • PetroChina's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PetroChina's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PetroChina Company Filings, last reported 2 months ago.

DB:PC6 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,444,305.00 466,722.00 110,665.00
2019-09-30 1,432,617.00 463,363.00 147,692.00
2019-06-30 1,425,835.00 444,694.00 112,845.00
2019-03-31 1,426,419.00 446,535.00 124,081.00
2018-12-31 1,408,891.00 414,572.00 95,489.00
2018-09-30 1,414,963.00 432,699.00 166,887.00
2018-06-30 1,399,997.00 432,892.00 128,549.00
2018-03-31 1,391,603.00 459,020.00 126,419.00
2017-12-31 1,381,319.00 465,275.00 136,121.00
2017-09-30 1,379,607.00 497,861.00 169,469.00
2017-06-30 1,383,890.00 493,049.00 121,052.00
2017-03-31 1,386,091.00 492,961.00 101,037.00
2016-12-31 1,372,735.00 517,703.00 98,617.00
2016-09-30 1,364,321.00 524,957.00 120,822.00
2016-06-30 1,361,851.00 559,777.00 102,154.00
2016-03-31 1,336,026.00 563,368.00 100,450.00
2015-12-31 1,344,034.00 551,756.00 73,692.00
2015-09-30 1,311,108.00 558,350.00 96,773.00
2015-06-30 1,323,039.00 538,421.00 67,444.00
2015-03-31 1,322,157.00 560,993.00 81,896.00
2014-12-31 1,317,781.00 555,094.00 76,021.00
2014-09-30 1,313,317.00 521,217.00 74,274.00
2014-06-30 1,313,124.00 536,011.00 92,213.00
2014-03-31 1,306,241.00 551,994.00 52,841.00
2013-12-31 1,269,935.00 495,629.00 57,250.00
2013-09-30 1,238,922.00 553,975.00 160,045.00
2013-06-30 1,233,512.00 550,595.00 152,790.00
2013-03-31 1,221,630.00 570,014.00 115,390.00
  • PetroChina's level of debt (32.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (42.1% vs 32.3% today).
  • Debt is well covered by operating cash flow (77.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5x coverage).
X
Financial health checks
We assess PetroChina's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PetroChina has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PC6 Dividends

 What is PetroChina's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.99%
Current annual income from PetroChina dividends. Estimated to be 3.26% next year.
If you bought €2,000 of PetroChina shares you are expected to receive €120 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PetroChina's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • PetroChina's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Upcoming dividend payment

Purchase PetroChina before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:PC6 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:PC6 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.17 1.00
2023-12-31 0.16 1.00
2022-12-31 0.12 6.00
2021-12-31 0.08 13.00
2020-12-31 0.05 13.00
2020-03-30
DB:PC6 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2020-03-26 0.144 6.090
2019-10-30 0.168 5.443
2019-08-29 0.168 4.552
2019-03-21 0.179 4.605
2018-10-30 0.150 3.284
2018-09-13 0.150 2.818
2018-03-22 0.130 2.664
2017-10-30 0.087 1.914
2017-08-24 0.087 2.073
2017-03-30 0.036 0.804
2016-10-28 0.043 0.834
2016-08-24 0.043 0.944
2016-05-25 0.087 1.916
2016-03-23 0.050 1.121
2016-02-29 0.050 1.116
2015-06-23 0.264 5.468
2014-07-21 0.319 4.302
2013-09-24 0.292 4.241
2013-04-22 0.284 3.975
2012-09-11 0.317 3.761
2012-03-29 0.327 3.963
2011-08-25 0.346 4.130
2011-03-22 0.367 4.041
2010-03-29 0.254 3.131
2010-03-26 0.254 3.303

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of PetroChina's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess PetroChina's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PetroChina afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PetroChina has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PC6 Management

 What is the CEO of PetroChina's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Liangwei Duan
COMPENSATION CN¥0
AGE 51
TENURE AS CEO 0 years
CEO Bio

Mr. Liangwei Duan has been President and Executive Director of PetroChina Company Limited since March 9, 2020 served as its Non-Executive Director since June 8, 2017 until March 9, 2020. Mr. Duan has been Vice President of China National Petroleum Corporation since May 25, 2017 and serves as its Chief HSE Supervisor. Mr. Duan has been Deputy General Manager of CNPC since March 2017 and its Chief Safety Officer since March 2017. Mr. Duan is a professor-level senior engineer and holds a doctorate degree. He has working experience in China’s petrochemical industry. Since February 2006, Mr. Duan served as Deputy General Manager and Chief Safety Officer of Jilin Petrochemical Company. He is a Vice President and Safety Director of CNPC. Since March 2010, he served as the General Manager of Jilin Fuel Ethanol Company Limited. He served as Vice President of CNPC from March 2017, and concurrently as Safety Director of CNPC from April 2017. Since September 2011, he served as the General Manager of Dagang Petrochemical Company. Since July 2013, he served as the General Manager of PetroChina Dalian Petrochemical Company, a manager of Dalian PetroChemical Corporation and Director of Dalian Regional Companies Coordination Group.

CEO Compensation
  • Insufficient data for Liangwei to compare compensation growth.
  • Insufficient data for Liangwei to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the PetroChina management team in years:

2.6
Average Tenure
57
Average Age
  • The tenure for the PetroChina management team is about average.
Management Team

Liangwei Duan

TITLE
Executive Director & President
AGE
51

Shouping Chai

TITLE
Chief Financial Officer
COMPENSATION
CN¥835K
AGE
57
TENURE
3.2 yrs

Xia Wei

TITLE
Chairman of Singapore Petroleum Company and Managing Director of PetroChina - Singapore

Enlai Wu

TITLE
Secretary to the Board of Directors
COMPENSATION
CN¥860K
AGE
59
TENURE
3 yrs

Longde Sun

TITLE
Vice President
COMPENSATION
CN¥950K
AGE
56
TENURE
12.8 yrs

Luguang Li

TITLE
Vice President
COMPENSATION
CN¥529K
AGE
57
TENURE
1.8 yrs

Jinghui Tian

TITLE
Vice President
COMPENSATION
CN¥824K
AGE
57
TENURE
4.3 yrs

Xiao Ling

TITLE
Vice President
COMPENSATION
CN¥44K
AGE
55
TENURE
2.3 yrs

Jigang Yang

TITLE
Vice President
COMPENSATION
CN¥44K
AGE
56
TENURE
2.3 yrs

Zhongcai Wang

TITLE
Vice President
COMPENSATION
CN¥41K
AGE
59
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the PetroChina board of directors in years:

2.8
Average Tenure
58
Average Age
  • The average tenure for the PetroChina board of directors is less than 3 years, this suggests a new board.
Board of Directors

Houliang Dai

TITLE
Chairman of the Board
AGE
55

Liangwei Duan

TITLE
Executive Director & President
AGE
51
TENURE
2.8 yrs

Fanrong Li

TITLE
Non-Executive Vice Chairman
AGE
56

Xia Wei

TITLE
Chairman of Singapore Petroleum Company and Managing Director of PetroChina - Singapore

Boqiang Lin

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥365K
AGE
61
TENURE
5.8 yrs

Wenrong Xu

TITLE
Chairman of Supervisory Committee
AGE
58
TENURE
2.8 yrs

Elsie Leung

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥334K
AGE
80
TENURE
2.8 yrs

Yuezhen Liu

TITLE
Non-Executive Director
AGE
57
TENURE
5.8 yrs

Biyi Zhang

TITLE
Independent Non Executive Director
COMPENSATION
CN¥399K
AGE
65
TENURE
5.4 yrs

Ted Tatsuhito

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥334K
AGE
66
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
28. Jan 20 Buy BlackRock, Inc. Company 23. Jan 20 23. Jan 20 7,470,000 €0.43 €3,247,715
24. Sep 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 19. Sep 19 19. Sep 19 -4,200,036 €0.48 €-2,021,572
13. Sep 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 10. Sep 19 10. Sep 19 80,986,272 €0.48 €39,214,542
28. Jun 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 25. Jun 19 25. Jun 19 -41,128,053 €0.48 €-19,942,219
21. Jun 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 18. Jun 19 18. Jun 19 -198,148,320 €0.49 €-96,786,732
21. Jun 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 18. Jun 19 18. Jun 19 207,278 €0.49 €101,246
20. Jun 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 17. Jun 19 17. Jun 19 80,393,093 €0.49 €39,129,818
13. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 08. May 19 08. May 19 -36,156,047 €0.53 €-19,340,486
10. May 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 07. May 19 07. May 19 103,358,773 €0.54 €56,299,526
26. Apr 19 Buy BlackRock, Inc. Company 23. Apr 19 23. Apr 19 2,241,700 €0.58 €1,304,760
09. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 04. Apr 19 04. Apr 19 -30,053,074 €0.59 €-17,756,096
09. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 04. Apr 19 04. Apr 19 932,500 €0.59 €550,944
09. Apr 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 04. Apr 19 04. Apr 19 -21,884,000 €0.59 €-12,929,606
09. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 04. Apr 19 04. Apr 19 37 €0.59 €22
09. Apr 19 Sell J.P. Morgan Asset Management, Inc. Company 04. Apr 19 04. Apr 19 -108,000 €0.59 €-63,809
09. Apr 19 Buy J.P. Morgan Asset Management, Inc. Company 04. Apr 19 04. Apr 19 5,966,000 €0.59 €3,524,860
08. Apr 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. Apr 19 03. Apr 19 -4,959,600 €0.59 €-2,921,013
08. Apr 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 03. Apr 19 03. Apr 19 15,052,189 €0.59 €8,865,158
08. Apr 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 03. Apr 19 03. Apr 19 -7,566,500 €0.59 €-4,456,376
08. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 03. Apr 19 03. Apr 19 112,000 €0.59 €65,964
05. Apr 19 Sell J.P. Morgan Asset Management, Inc. Company 02. Apr 19 02. Apr 19 -51,659,671 €0.59 €-30,534,478
X
Management checks
We assess PetroChina's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PetroChina has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PC6 News

Simply Wall St News

PC6 Company Info

Description

PetroChina Company Limited, together with its subsidiaries, engages in a range of petroleum related products, services, and activities in Mainland China and internationally. It operates through Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline segments. The Exploration and Production segment engages in the exploration, development, production, and marketing of crude oil and natural gas. The Refining and Chemicals segment refines crude oil and petroleum products; and produces and markets primary petrochemical products, derivative petrochemical products, and other chemical products. The Marketing segment is involved in marketing of refined products and trading business. The Natural Gas and Pipeline segment engages in the transmission of natural gas, crude oil, and refined products; and sale of natural gas. As of December 31, 2018, the company had a total length of 83,527 km, including 51,751 km of natural gas pipelines, 20,048 km of crude oil pipelines, and 11,728 km of refined product pipelines. It is also involved in the exploration, development, and production of oil sands and coalbed methane; trading of crude oil and petrochemical products; storage, chemical engineering, storage facilities, service station, and transportation facilities and related businesses; import and export of goods and technology; and import and export agency business, as well as provision of technology promotion, professional contractor, and main contractor services. The company was founded in 1988 and is headquartered in Beijing, the People’s Republic of China. PetroChina Company Limited is a subsidiary of China National Petroleum Corporation.

Details
Name: PetroChina Company Limited
PC6
Exchange: DB
Founded:
HK$101,979,310,098
183,020,977,818
Website: http://www.petrochina.com.cn
Address: PetroChina Company Limited
No. 9 Dongzhimen North Street,
Dongcheng District,
Beijing,
100007,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 857 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 07. Apr 2000
OTCPK PCCY.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 07. Apr 2000
DB PC6 Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 07. Apr 2000
SHSC 857 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 07. Apr 2000
SZSC 857 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 07. Apr 2000
NYSE PTR ADS EACH REPR 100 H SHS HKD0.10LVLIII New York Stock Exchange US USD 06. Apr 2000
SHSE 601857 Domestic Shares Shanghai Stock Exchange CN CNY 08. Nov 2007
DB PC6A ADS EACH REPR 100 H SHS HKD0.10LVLIII Deutsche Boerse AG DE EUR 06. Apr 2000
LSE 0A2R ADS EACH REPR 100 H SHS HKD0.10LVLIII London Stock Exchange GB USD 06. Apr 2000
XSSC 601857 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 08. Nov 2007
BMV PTR N ADS EACH REPR 100 H SHS HKD0.10LVLIII Bolsa Mexicana de Valores MX MXN 06. Apr 2000
SGX K3OD ADS EACH REPR 100 H SHS HKD0.10LVLIII Singapore Exchange SG USD 06. Apr 2000
Number of employees
Current staff
Staff numbers
460,724
PetroChina employees.
Industry
Integrated Oil and Gas
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 22:02
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/03/26
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.