CATL IPO (Hong Kong) Valuation Analysis
Our valuation analysis suggests that CATL is undervalued. Our base case valuation suggests implied market cap of 1.5 trillion CNY, which represents 33% higher than current levels.
Our valuation sensitivity analysis suggests a market cap valuation range of 1.2 trillion CNY to 1.8 trillion CNY.
We estimate CATL to generate revenue of 431.7 billion RMB (up 16.8% YoY) and net profit of 61.4 billion RMB (up 10.5% YoY) in 2025.
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