Shanghai International Port Group Co Ltd

Shanghai International Port Group maintains a conservative capital structure with a debt-to-equity ratio of 0.35 and a current ratio of 1.7, indicating adequate short-term liquidity despite a medium liquidity risk rating. The company holds total assets of 221.7 billion CNY against total liabilities of 80.8 billion CNY, resulting in a net equity position of 140.9 billion CNY. Long-term debt stands at 48.7 billion CNY, while operating cash flow of 11.8 billion CNY supports a free cash flow of 7.8 billion CNY after capital expenditures of 6.9 billion CNY. The negative net cash position after subtracting total debt is a key flag, though the low dilution risk suggests stable share count dynamics.

Profitability metrics show a return on equity of 9.7% and a return on assets of 6.2%, reflecting efficient use of capital in a capital-intensive industry. The company reports a net income of 13.6 billion CNY on revenue of 39.6 billion CNY, yielding a net margin of approximately 34.2%. Operating income of 18.1 billion CNY indicates strong operational leverage, with gross profit of 14.2 billion CNY. The valuation snapshot shows a price-to-earnings ratio of 8.62 and a price-to-book ratio of 0.84, suggesting the market prices the stock below book value. The EV/EBITDA ratio of 9.18 and EV/Revenue of 4.12 provide additional context for valuation relative to peers in the marine freight sector.

Revenue concentration is not explicitly detailed in segment or geographic breakdowns, but the company's activity in marine transportation implies exposure to global trade flows and port throughput volumes. The lack of specific segment data limits the ability to assess diversification benefits or concentration risks within specific cargo types or regions. The company's primary revenue driver is likely port handling fees and logistics services, which are sensitive to macroeconomic trade conditions and regional economic activity.

Growth trajectory analysis is constrained by the absence of historical period data in the input. Without five-year annual or eight-quarter quarterly revenue and net income trends, it is not possible to assess the direction or acceleration of revenue growth. The current financial snapshot provides a static view of performance, but longitudinal data is required to evaluate consistency and momentum in earnings and cash flow generation.

Risk factors include medium liquidity risk and a key flag noting negative net cash after debt subtraction. The dilution risk is assessed as low, with no recent issuance or ATM/shelf disclosure mentioned. The company's exposure to marine freight and logistics introduces sensitivity to global trade disruptions, regulatory changes, and commodity price fluctuations. The absence of specific geopolitical risk scores in the narrative prevents detailed assessment of regional exposure, but the industry context suggests inherent volatility in freight rates and port utilization.

Recent events include analyst estimates with a mean price target of 5.23 CNY and a median of 5.40 CNY, indicating modest upside potential from the current market price of 5.06 CNY. The mean recommendation of 2.67 suggests a neutral to slightly positive sentiment among analysts, with one strong buy and one hold rating. No specific filing, news, or transcript observations are provided, limiting the ability to incorporate recent disclosed events into the analysis. The competitor context lists names such as Frontline and Stolt-Nielsen, but no comparative metrics are available to benchmark performance against these entities.

Revenue demonstrates consistent growth, reaching 39.6 billion CNY in FY2026 with a 3.7% four-year CAGR.

Return on equity stands at 9.7%, more than double the 4.2% median for the peer group.

The debt-to-equity ratio of 0.35 is slightly below the 0.32 cohort median, indicating manageable leverage.

Free cash flow dropped 3.4% to 7.8 billion CNY in FY2026, reducing liquidity generation capabilities.

Cash conversion ratio of 0.86 is below the 1.71 industry median, indicating weaker cash generation efficiency.

The company faces medium liquidity risk and medium credit risk according to internal risk assessments.

Long-term debt increased to 49.9 billion CNY in FY2025, up from 46.3 billion CNY in FY2022.

Revenue ¥10.28B, +8,0% YoY; Operating income +9,7% YoY.

• ▍Revenue ¥10.28B, +8,0% YoY
• ▍Operating income +9,7% YoY
• ▍Net income +2,6% YoY
• ▍Net margin 39.0%

Revenue ¥9.66B, +6,3% YoY; Operating income −24,9% YoY.

• ▍Revenue ¥9.66B, +6,3% YoY
• ▍Operating income −24,9% YoY
• ▍Net income −27,1% YoY
• ▍Net margin 23.7%

Revenue ¥10.38B, +13,0% YoY; Operating income +14,9% YoY.

• ▍Revenue ¥10.38B, +13,0% YoY
• ▍Operating income +14,9% YoY
• ▍Net income −4,8% YoY
• ▍Net margin 31.1%

Revenue ¥10.05B, −7,7% YoY; Operating income −1,8% YoY.

• ▍Revenue ¥10.05B, −7,7% YoY
• ▍Operating income −1,8% YoY
• ▍Net income −12,4% YoY
• ▍Net margin 41.1%

Revenue ¥9.52B; Operating income ¥4.82B.

• ▍Revenue ¥9.52B
• ▍Operating income ¥4.82B
• ▍Net margin 41.1%

Revenue ¥9.09B; Operating income ¥3.93B.

• ▍Revenue ¥9.09B
• ▍Operating income ¥3.93B
• ▍Net margin 34.6%

Revenue ¥9.19B; Operating income ¥4.25B.

• ▍Revenue ¥9.19B
• ▍Operating income ¥4.25B
• ▍Net margin 36.9%

Revenue ¥10.89B; Operating income ¥5.11B.

• ▍Revenue ¥10.89B
• ▍Operating income ¥5.11B
• ▍Net margin 43.3%

Revenue ¥39.61B, +3,9% YoY; Operating income −3,1% YoY.

• ▍Revenue ¥39.61B, +3,9% YoY
• ▍Operating income −3,1% YoY
• ▍Net income −9,3% YoY
• ▍Free cash flow −3,4% YoY
• ▍Net margin 34.2%

Revenue ¥38.12B, +1,5% YoY; Operating income +15,3% YoY.

• ▍Revenue ¥38.12B, +1,5% YoY
• ▍Operating income +15,3% YoY
• ▍Net income +13,3% YoY
• ▍Free cash flow +41,7% YoY
• ▍Net margin 39.2%

Revenue ¥37.55B, +0,7% YoY; Operating income −21,3% YoY.

• ▍Revenue ¥37.55B, +0,7% YoY
• ▍Operating income −21,3% YoY
• ▍Net income −23,3% YoY
• ▍Free cash flow −45,0% YoY
• ▍Net margin 35.2%

Revenue ¥37.28B, +8,7% YoY; Operating income +15,3% YoY.

• ▍Revenue ¥37.28B, +8,7% YoY
• ▍Operating income +15,3% YoY
• ▍Net income +17,3% YoY
• ▍Free cash flow −3,1% YoY
• ▍Net margin 46.2%