COSCO Shipping Energy Transportation Co Ltd

(a) Capital structure and liquidity are defined by a balance sheet with total assets of 92.08 billion CNY and total liabilities of 45.67 billion CNY, resulting in total equity of 46.41 billion CNY. Long-term debt stands at 35.43 billion CNY, yielding a debt-to-equity ratio of 0.76. The current ratio is 1.22, indicating adequate short-term liquidity coverage. Operating cash flow is robust at 7.39 billion CNY, but free cash flow is compressed to 1.70 billion CNY due to significant capital expenditures of 5.64 billion CNY. The risk assessment flags medium liquidity risk and notes that net cash is negative after subtracting total debt.

(b) Profitability metrics show a net income of 4.04 billion CNY on revenue of 23.70 billion CNY, resulting in a net margin of approximately 17%. Return on equity is 8.7%, and return on assets is 4.38%. The company trades at a price-to-earnings ratio of 4.58 and a price-to-book ratio of 0.4, suggesting a valuation discount relative to book value. The EV/EBITDA multiple is 9.92. While specific cohort medians are not provided in the input data for direct comparison, the low P/B and P/E multiples indicate a conservative market valuation relative to earnings and equity.

Analysts project 32.8% upside to a mean price target of 23.66, reflecting strong buy consensus among 11 analysts.

Revenue grew at a 17.0% CAGR over four years, demonstrating consistent top-line expansion.

Free cash flow is projected to surge 165% year-over-year to 1.7 billion CNY in FY2026.

The company faces high credit risk, signaling potential challenges in debt servicing or financial stability.

Long-term debt increased to 36.4 billion CNY in FY2025, rising significantly from 30.1 billion in FY2024.

Debt-to-equity ratio of 0.76 is higher than the 0.49 cohort median, indicating elevated leverage.

Net income growth stalled with a -0.2% year-over-year decline from FY2025 to FY2026.

Capex intensity is in the bottom quartile, suggesting potentially insufficient investment for future growth.

Revenue ¥23.70B, +2,3% YoY; Operating income −1,0% YoY.

• ▍Revenue ¥23.70B, +2,3% YoY
• ▍Operating income −1,0% YoY
• ▍Net income −0,1% YoY
• ▍Free cash flow +164,9% YoY
• ▍Net margin 17.0%

Revenue ¥23.16B, +2,7% YoY; Operating income +8,3% YoY.

• ▍Revenue ¥23.16B, +2,7% YoY
• ▍Operating income +8,3% YoY
• ▍Net income +19,6% YoY
• ▍Free cash flow −617,1% YoY
• ▍Net margin 17.5%

Revenue ¥22.55B, +21,5% YoY; Operating income +87,6% YoY.

• ▍Revenue ¥22.55B, +21,5% YoY
• ▍Operating income +87,6% YoY
• ▍Net income +131,3% YoY
• ▍Free cash flow +171,8% YoY
• ▍Net margin 15.0%

Revenue ¥18.57B, +46,8% YoY; Operating income +157,9% YoY.

• ▍Revenue ¥18.57B, +46,8% YoY
• ▍Operating income +157,9% YoY
• ▍Net income +129,3% YoY
• ▍Free cash flow +89,3% YoY
• ▍Net margin 7.9%

Revenue ¥12.64B; Operating income -¥4.67B.

• ▍Revenue ¥12.64B
• ▍Operating income -¥4.67B
• ▍Net margin -39.4%