SHA/600938 (SHA/600938)

Shanghai Stock Exchange: SHA/600938 · CNY

CN¥33.9

-0.51 (-1.5%)· Recorded snapshot

Market cap	1T
Revenue (ttm)	433.3B
Net income (ttm)	138.4B
EPS (ttm)	CN¥2.91
P/E (trailing)	7.4x
P/E (forward)	6.7x
Dividend	CN¥1.14 (3.38%)
Volume	99,287,952
Beta	0.32

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 433.3B
Net income (ttm): 138.4B
EPS (ttm): CN¥2.91
P/E (trailing): 7.4x
P/E (forward): 6.7x
Market cap: 1T

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-09-13 02:00 UTC

Forward P/E6.7

P25 11.2P50 13.6P75 18.7

Trailing P/E7.4

P25 15.1P50 25.2P75 47.4

ROE16.8

P25 0.7P50 6.1P75 10.8

ROIC21.9

P25 1.2P50 4.4P75 9.7

Benchmarks · 1M

S&P 500-0.9%

Nasdaq Composite-0.4%

Dow Jones Industrial Average-2.3%

Russell 2000-4.1%

All SHA/600938 indicators

Market & fundamental data

Available fields

232

Groups with data

Currency

CNY

Showing 232 of 232 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Country	Hong Kong
Country code	CN
Employees	22,045
Employees Change	-136%
Employees Change Percent	-0.61
Enterprise value	CNY 777.8B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
First seen	2026-05-10
Industry	Oil & Gas Exploration & Production
Industry PE	111.6
Isin	CNE100005980
Last refreshed	2026-09-13
Market cap	CNY 1T
Price	CNY 33.91
Price currency	CNY
Rev Per Employee	19,653,980.49x
Sector	Energy
Sector PE	21.34
Sector PE Fwd	14.93
Sic	1311
Symbol	sha/600938
Website	https://www.cnoocltd.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Earnings Yield	13.43%
EV Earnings	5.62x
EV/EBIT	4.26x
EV/EBITDA	2.93x
EV/FCF	6.04x
EV/Sales	1.82x
FCF yield	12.5%
Forward P/E	6.71x
P/B ratio	1.2x
P/E ratio	7.45x
P/S ratio	2.38x
PE Ratio10 Y	23.93x
PE Ratio3 Y	6.59x
PE Ratio5 Y	5.55x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT Margin	42.78%
EBITDA Margin	61.51%
FCF margin	29.73%
Gross margin	75.94%
Gross Profit	CNY 329B
Gross Profit Growth	2.36%
Gross Profit Growth Q	33.69%
Gross Profit Growth3 Y	0.89%
Gross Profit Growth5 Y	23%
Net Income	CNY 138.4B
Net Income Growth	8.32%
Net Income Growth Q	41.57%
Net Income Growth Qo Q	19.24%
Net Income Growth Quarters	1%
Net Income Growth Years	0%
Net Income Growth3 Y	1.18%
Net Income Growth5 Y	23.63%
Pretax Margin	43.5%
Profit Margin	31.94%
Profit Per Employee	CNY 6.3M
Profitable Quarters	CNY 20
Profitable Years	28
ROA	9.98
Roa5y	10.66
ROCE	17.46
ROE	16.81
Roe5y	19.27
ROIC	21.9
Roic5y	21.11

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
Cagr1y	35.5%
Cagr3y	25.97%
Div CAGR3	-3.77%
EPS Growth	8.63
EPS Growth Q	42.92
EPS Growth Qo Q	20.28
EPS Growth Quarters	1
EPS Growth Years	0
EPS Growth3 Y	1.28
EPS Growth5 Y	22.1
FCF Growth	42.35%
FCF Growth Q	145.95%
FCF Growth Qo Q	128.95%
FCF Growth3 Y	12.37%
FCF Growth5 Y	86.83%
OCF Growth	14.17%
OCF Growth Q	66.61%
OCF Growth Qo Q	56.82%
OCF Growth10 Y	11.68%
OCF Growth3 Y	5.96%
OCF Growth5 Y	16.55%
Revenue Growth	7.96x
Revenue Growth Q	25.63x
Revenue Growth Qo Q	9.05x
Revenue Growth Quarters	1x
Revenue Growth Years	0x
Revenue Growth3 Y	1.7x
Revenue Growth5 Y	17.79x

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Asset Turnover	CNY 0.37
Assets	CNY 1.2T
Cash	CNY 326.3B
Current Assets	CNY 393.8B
Current Liabilities	CNY 140.7B
Debt	CNY 68.1B
Debt EBITDA	CNY 0.25
Debt Equity	CNY 0.08
Debt FCF	CNY 0.53
Equity	CNY 858.6B
Interest Coverage	74.05
Liabilities	CNY 343.9B
Long Term Assets	CNY 808.7B
Long Term Liabilities	CNY 203.3B
Net Cash	CNY 258.2B
Net Cash By Market Cap	CNY 25.06
Net Cash Growth	40.11%
Net Debt EBITDA	CNY -0.97
Net Debt Equity	CNY -0.3
Net Debt FCF	CNY -2
Tangible Book Value	CNY 838.2B
Tangible Book Value Per Share	CNY 17.63
WACC	5.83

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Current ratio	2.8
Inventory Turnover	16.08
Net Working Capital	CNY -69.1B
Quick ratio	2.68
Working Capital	CNY 253.1B
Working Capital Turnover	CNY 1.98

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback Yield	0.01%
Dividend Growth	-10.66%
Dividend Growth Years	0%
Dividend per share	CNY 1.14
Dividend Years	5
Dividend Yield	3.38%
Ex Div Date	2026-07-10
Last Dividend	CNY 0.48
Payout Frequency	Semi-Annual
Payout Ratio	43.37%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
1Y total return	35.47%
200-day SMA	33.56
3Y total return	99.91%
50-day SMA	32.06
50-day SMA vs 200-day SMA	50under200
All Time High	44.54
All Time High Change	-23.87%
All Time High Date	2026-03-09
All Time Low	12.96
All Time Low Change	161.65%
All Time Low Date	2022-04-21
ATR	1
Beta	0.32
Ch YTD	12.36
High	35.5
High52	44.54
High52 Date	2026-03-09
High52ch	-23.87%
Low	33.8
Low52	25.5
Low52 Date	2025-10-20
Low52ch	32.98%
Ma50ch	5.78%
Price vs 200-day SMA	1.03%
RSI	54.91
RSI Monthly	56.51
RSI Weekly	53.24
Sharpe ratio	0.91x
Sharpe Ratio3y	0.77x
Sortino ratio	1.68
Sortino Ratio3y	1.38
Total Return	3.39%
Tr YTD	14.29
Tr1m	5.97%
Tr1w	1.5%
Tr3m	1.3%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	17,178,673,766%
Net Borrowing	-4,267,000,000
Shares Insiders	0.01%
Shares Institutions	3.95%
Shares Qo Q	-0.87%
Shares Yo Y	-0.01%

Other indicators

Additional ticker metrics that do not fit the primary research groupings yet.

Metric	Value
Average Volume	44,929,052.9x
Bv Per Share	18.01
CAPEX	CNY -112.7B
Ch1m	5.97
Ch1w	1.5
Ch1y	29.82
Ch3m	-0.41
Ch3y	75.07
Ch6m	-17.25
Change	-1.48%
Change From Open	-3.03
Close	34.42
Days Gap	1.6
Depreciation Amortization	81,152,000,000
Dollar Volume	3,366,854,452.3
Earnings Date	2026-08-26
EBIT	CNY 185.3B
EBITDA	CNY 266.5B
EPS	CNY 2.91
F Score	7
FCF	CNY 128.8B
FCF EV Yield	16.56x
Financing CF	-66,874,000,000
Fiscal Year End	December
Founded	1,999
Goodwill	14,483,000,000
Graham Number	53.81211
Graham Upside	58.69
Income Tax	CNY 50.1B
Investing CF	-106,214,000,000
Is Primary Listing	0
Last Earnings Date	2026-08-26
Last Report Date	2026-06-30
Lynch Fair Value	CNY 108
Lynch Upside	217.4
Ma150	34.97
Ma150ch	-3.04%
Ma20	33.77
Ma20ch	0.41%
Net CF	67,563,000,000
Next Earnings Date	2026-10-23
Open	34.97
P FCF Ratio	8
P OCF Ratio	4.27
Payment Date	2026-07-10
Position In Range	6.47
Ppne	684,989,000,000
Price Date	2026-09-11
Price EBITDA	CNY 3.87
Ptbv Ratio	1.23
Relative Volume	2.32x
Revenue	433,272,000,000x
Tax By Revenue	11.56x
Tax Rate	26.56%
Tr6m	-15.83%
Volume	99,287,952
Z Score	3.77

Deeper analysis on SHA/600938

14 sections in the full report · jump straight to what you need

Forecast

Bull, base, and bear cases with expected-return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Six-factor overlay and 9-category weighted scorecard.

→

Recommendation

Final action, action steps, opportunity, and biggest risk.

→

Perspectives

Growth, value, and income investor reads.

→

Frequently asked questions

About this SHA/600938 report

Is a complete SHA/600938 research report available?

No complete published report is available for sha/600938 (SHA/600938) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

SHA/600938 (SHA/600938)

Shanghai Stock Exchange: SHA/600938 · CNY

CN¥33.9

-0.51 (-1.5%)· Recorded snapshot

Market cap	1T
Revenue (ttm)	433.3B
Net income (ttm)	138.4B
EPS (ttm)	CN¥2.91
P/E (trailing)	7.4x
P/E (forward)	6.7x
Dividend	CN¥1.14 (3.38%)
Volume	99,287,952
Beta	0.32

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 433.3B
Net income (ttm): 138.4B
EPS (ttm): CN¥2.91
P/E (trailing): 7.4x
P/E (forward): 6.7x
Market cap: 1T

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-09-13 02:00 UTC

Forward P/E6.7

P25 11.2P50 13.6P75 18.7

Trailing P/E7.4

P25 15.1P50 25.2P75 47.4

ROE16.8

P25 0.7P50 6.1P75 10.8

ROIC21.9

P25 1.2P50 4.4P75 9.7

Benchmarks · 1M

S&P 500-0.9%

Nasdaq Composite-0.4%

Dow Jones Industrial Average-2.3%

Russell 2000-4.1%

All SHA/600938 indicators

Market & fundamental data

Available fields

232

Groups with data

Currency

CNY

Showing 232 of 232 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Country	Hong Kong
Country code	CN
Employees	22,045
Employees Change	-136%
Employees Change Percent	-0.61
Enterprise value	CNY 777.8B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
First seen	2026-05-10
Industry	Oil & Gas Exploration & Production
Industry PE	111.6
Isin	CNE100005980
Last refreshed	2026-09-13
Market cap	CNY 1T
Price	CNY 33.91
Price currency	CNY
Rev Per Employee	19,653,980.49x
Sector	Energy
Sector PE	21.34
Sector PE Fwd	14.93
Sic	1311
Symbol	sha/600938
Website	https://www.cnoocltd.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Earnings Yield	13.43%
EV Earnings	5.62x
EV/EBIT	4.26x
EV/EBITDA	2.93x
EV/FCF	6.04x
EV/Sales	1.82x
FCF yield	12.5%
Forward P/E	6.71x
P/B ratio	1.2x
P/E ratio	7.45x
P/S ratio	2.38x
PE Ratio10 Y	23.93x
PE Ratio3 Y	6.59x
PE Ratio5 Y	5.55x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT Margin	42.78%
EBITDA Margin	61.51%
FCF margin	29.73%
Gross margin	75.94%
Gross Profit	CNY 329B
Gross Profit Growth	2.36%
Gross Profit Growth Q	33.69%
Gross Profit Growth3 Y	0.89%
Gross Profit Growth5 Y	23%
Net Income	CNY 138.4B
Net Income Growth	8.32%
Net Income Growth Q	41.57%
Net Income Growth Qo Q	19.24%
Net Income Growth Quarters	1%
Net Income Growth Years	0%
Net Income Growth3 Y	1.18%
Net Income Growth5 Y	23.63%
Pretax Margin	43.5%
Profit Margin	31.94%
Profit Per Employee	CNY 6.3M
Profitable Quarters	CNY 20
Profitable Years	28
ROA	9.98
Roa5y	10.66
ROCE	17.46
ROE	16.81
Roe5y	19.27
ROIC	21.9
Roic5y	21.11

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
Cagr1y	35.5%
Cagr3y	25.97%
Div CAGR3	-3.77%
EPS Growth	8.63
EPS Growth Q	42.92
EPS Growth Qo Q	20.28
EPS Growth Quarters	1
EPS Growth Years	0
EPS Growth3 Y	1.28
EPS Growth5 Y	22.1
FCF Growth	42.35%
FCF Growth Q	145.95%
FCF Growth Qo Q	128.95%
FCF Growth3 Y	12.37%
FCF Growth5 Y	86.83%
OCF Growth	14.17%
OCF Growth Q	66.61%
OCF Growth Qo Q	56.82%
OCF Growth10 Y	11.68%
OCF Growth3 Y	5.96%
OCF Growth5 Y	16.55%
Revenue Growth	7.96x
Revenue Growth Q	25.63x
Revenue Growth Qo Q	9.05x
Revenue Growth Quarters	1x
Revenue Growth Years	0x
Revenue Growth3 Y	1.7x
Revenue Growth5 Y	17.79x

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Asset Turnover	CNY 0.37
Assets	CNY 1.2T
Cash	CNY 326.3B
Current Assets	CNY 393.8B
Current Liabilities	CNY 140.7B
Debt	CNY 68.1B
Debt EBITDA	CNY 0.25
Debt Equity	CNY 0.08
Debt FCF	CNY 0.53
Equity	CNY 858.6B
Interest Coverage	74.05
Liabilities	CNY 343.9B
Long Term Assets	CNY 808.7B
Long Term Liabilities	CNY 203.3B
Net Cash	CNY 258.2B
Net Cash By Market Cap	CNY 25.06
Net Cash Growth	40.11%
Net Debt EBITDA	CNY -0.97
Net Debt Equity	CNY -0.3
Net Debt FCF	CNY -2
Tangible Book Value	CNY 838.2B
Tangible Book Value Per Share	CNY 17.63
WACC	5.83

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Current ratio	2.8
Inventory Turnover	16.08
Net Working Capital	CNY -69.1B
Quick ratio	2.68
Working Capital	CNY 253.1B
Working Capital Turnover	CNY 1.98

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback Yield	0.01%
Dividend Growth	-10.66%
Dividend Growth Years	0%
Dividend per share	CNY 1.14
Dividend Years	5
Dividend Yield	3.38%
Ex Div Date	2026-07-10
Last Dividend	CNY 0.48
Payout Frequency	Semi-Annual
Payout Ratio	43.37%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
1Y total return	35.47%
200-day SMA	33.56
3Y total return	99.91%
50-day SMA	32.06
50-day SMA vs 200-day SMA	50under200
All Time High	44.54
All Time High Change	-23.87%
All Time High Date	2026-03-09
All Time Low	12.96
All Time Low Change	161.65%
All Time Low Date	2022-04-21
ATR	1
Beta	0.32
Ch YTD	12.36
High	35.5
High52	44.54
High52 Date	2026-03-09
High52ch	-23.87%
Low	33.8
Low52	25.5
Low52 Date	2025-10-20
Low52ch	32.98%
Ma50ch	5.78%
Price vs 200-day SMA	1.03%
RSI	54.91
RSI Monthly	56.51
RSI Weekly	53.24
Sharpe ratio	0.91x
Sharpe Ratio3y	0.77x
Sortino ratio	1.68
Sortino Ratio3y	1.38
Total Return	3.39%
Tr YTD	14.29
Tr1m	5.97%
Tr1w	1.5%
Tr3m	1.3%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	17,178,673,766%
Net Borrowing	-4,267,000,000
Shares Insiders	0.01%
Shares Institutions	3.95%
Shares Qo Q	-0.87%
Shares Yo Y	-0.01%

Other indicators

Additional ticker metrics that do not fit the primary research groupings yet.

Metric	Value
Average Volume	44,929,052.9x
Bv Per Share	18.01
CAPEX	CNY -112.7B
Ch1m	5.97
Ch1w	1.5
Ch1y	29.82
Ch3m	-0.41
Ch3y	75.07
Ch6m	-17.25
Change	-1.48%
Change From Open	-3.03
Close	34.42
Days Gap	1.6
Depreciation Amortization	81,152,000,000
Dollar Volume	3,366,854,452.3
Earnings Date	2026-08-26
EBIT	CNY 185.3B
EBITDA	CNY 266.5B
EPS	CNY 2.91
F Score	7
FCF	CNY 128.8B
FCF EV Yield	16.56x
Financing CF	-66,874,000,000
Fiscal Year End	December
Founded	1,999
Goodwill	14,483,000,000
Graham Number	53.81211
Graham Upside	58.69
Income Tax	CNY 50.1B
Investing CF	-106,214,000,000
Is Primary Listing	0
Last Earnings Date	2026-08-26
Last Report Date	2026-06-30
Lynch Fair Value	CNY 108
Lynch Upside	217.4
Ma150	34.97
Ma150ch	-3.04%
Ma20	33.77
Ma20ch	0.41%
Net CF	67,563,000,000
Next Earnings Date	2026-10-23
Open	34.97
P FCF Ratio	8
P OCF Ratio	4.27
Payment Date	2026-07-10
Position In Range	6.47
Ppne	684,989,000,000
Price Date	2026-09-11
Price EBITDA	CNY 3.87
Ptbv Ratio	1.23
Relative Volume	2.32x
Revenue	433,272,000,000x
Tax By Revenue	11.56x
Tax Rate	26.56%
Tr6m	-15.83%
Volume	99,287,952
Z Score	3.77

Deeper analysis on SHA/600938

14 sections in the full report · jump straight to what you need

Forecast

Bull, base, and bear cases with expected-return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Six-factor overlay and 9-category weighted scorecard.

→

Recommendation

Final action, action steps, opportunity, and biggest risk.

→

Perspectives

Growth, value, and income investor reads.

→

Frequently asked questions

About this SHA/600938 report

Is a complete SHA/600938 research report available?

No complete published report is available for sha/600938 (SHA/600938) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

SHA/600938 (SHA/600938)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600938

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600938 indicators

Profile and market data

Valuation

Profitability

Growth

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on SHA/600938

Frequently asked questions

SHA/600938 (SHA/600938)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600938

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600938 indicators

Profile and market data

Valuation

Profitability

Growth

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on SHA/600938

Frequently asked questions