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China Resources Beer, or CR Beer, was originally a conglomerate enterprise with operations across retail, beer, food and beverage sectors. In September 2015, the company disposed of all its non-beer businesses and became a pure beer producer. Through a series of mergers and acquisitions, the company achieved its leadership position in China’s beer industry. Amid the premiumization trend in the domestic beer market, CR beer acquired Heineken China in 2019, which allows CR Beer access to a premium international brand and also leverages its sophisticated distribution network to grow Heineken’s sales and market share. CR Beer is now China’s largest brewer, with a volume share of about 26%, versus 15% of Tsingtao and 19% of Budweiser APAC, based on Euromonitor data.
1965
27K+
LTM Revenue $5.8B
LTM EBITDA $1.3B
$11.3B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
China Resources Beer has a last 12-month revenue of $5.8B and a last 12-month EBITDA of $1.3B.
In the most recent fiscal year, China Resources Beer achieved revenue of $5.0B and an EBITDA of $1.2B.
China Resources Beer expects next 12-month revenue of XXX and NTM EBITDA of XXX
See China Resources Beer valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $4.5B | $5.0B | XXX | XXX | XXX |
| Gross Profit | $1.7B | $1.7B | XXX | XXX | XXX |
| Gross Margin | 37% | 35% | XXX | XXX | XXX |
| EBITDA | $917M | $1.2B | XXX | XXX | XXX |
| EBITDA Margin | 20% | 24% | XXX | XXX | XXX |
| Net Profit | $590M | $559M | XXX | XXX | XXX |
| Net Margin | 13% | 11% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, China Resources Beer's stock price is HKD 28 (or $4).
China Resources Beer has current market cap of HKD 89.7B (or $11.5B), and EV of HKD 88.1B (or $11.3B).
See China Resources Beer trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $11.3B | $11.5B | XXX | XXX | XXX | XXX | $0.21 |
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Sign UpAs of April 15, 2025, China Resources Beer has market cap of $11.5B and EV of $11.3B.
China Resources Beer's trades at 2.1x LTM EV/Revenue multiple, and 9.1x LTM EBITDA.
Analysts estimate China Resources Beer's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for China Resources Beer and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $11.3B | XXX | XXX | XXX |
| EV/Revenue | 2.3x | XXX | XXX | XXX |
| EV/EBITDA | 9.2x | XXX | XXX | XXX |
| P/E | 17.4x | XXX | XXX | XXX |
| P/E/Growth | 1.7x | XXX | XXX | XXX |
| EV/FCF | 54.1x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpChina Resources Beer's NTM/LTM revenue growth is 3%
China Resources Beer's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, China Resources Beer's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate China Resources Beer's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for China Resources Beer and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 10% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 24% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 34% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 27% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 21% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 9% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 27% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Heineken | XXX | XXX | XXX | XXX | XXX | XXX |
| Endeavour Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Treasury Wine Estates | XXX | XXX | XXX | XXX | XXX | XXX |
| United Spirits | XXX | XXX | XXX | XXX | XXX | XXX |
| United Breweries | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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China Resources Beer acquired XXX companies to date.
Last acquisition by China Resources Beer was XXXXXXXX, XXXXX XXXXX XXXXXX . China Resources Beer acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was China Resources Beer founded? | China Resources Beer was founded in 1965. |
| Where is China Resources Beer headquartered? | China Resources Beer is headquartered in Hong Kong. |
| How many employees does China Resources Beer have? | As of today, China Resources Beer has 27K+ employees. |
| Who is the CEO of China Resources Beer? | China Resources Beer's CEO is Mr. Xiaohai Hou. |
| Is China Resources Beer publicy listed? | Yes, China Resources Beer is a public company listed on HKG. |
| What is the stock symbol of China Resources Beer? | China Resources Beer trades under 00291 ticker. |
| When did China Resources Beer go public? | China Resources Beer went public in 1996. |
| Who are competitors of China Resources Beer? | Similar companies to China Resources Beer include e.g. Heineken, Endeavour Group, Treasury Wine Estates, United Spirits. |
| What is the current market cap of China Resources Beer? | China Resources Beer's current market cap is $11.5B |
| What is the current revenue of China Resources Beer? | China Resources Beer's last 12-month revenue is $5.8B. |
| What is the current EBITDA of China Resources Beer? | China Resources Beer's last 12-month EBITDA is $1.3B. |
| What is the current EV/Revenue multiple of China Resources Beer? | Current revenue multiple of China Resources Beer is 2.1x. |
| What is the current EV/EBITDA multiple of China Resources Beer? | Current EBITDA multiple of China Resources Beer is 9.1x. |
| What is the current revenue growth of China Resources Beer? | China Resources Beer revenue growth between 2023 and 2024 was 10%. |
| Is China Resources Beer profitable? | Yes, China Resources Beer is EBITDA-positive (as of the last 12 months). |
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