SHA/600132 (SHA/600132)

Shanghai Stock Exchange: SHA/600132 · CNY

CN¥37.1

-0.48 (-1.3%)· Recorded snapshot

Market cap	17.9B
Revenue (ttm)	14.5B
Net income (ttm)	1.2B
EPS (ttm)	CN¥2.39
Shares out	484M
P/E (trailing)	15.5x
P/E (forward)	15.4x
Dividend	CN¥2.50 (6.75%)
Volume	2,129,400
Beta	0.22

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 14.5B
Net income (ttm): 1.2B
EPS (ttm): CN¥2.39
P/E (trailing): 15.5x
P/E (forward): 15.4x
Market cap: 17.9B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E15.4

P25 n/aP50 n/aP75 n/a

Trailing P/E15.5

P25 n/aP50 n/aP75 n/a

ROE68.4

P25 n/aP50 n/aP75 n/a

ROIC241.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All SHA/600132 indicators

Market & fundamental data

Available fields

260

Groups with data

Currency

CNY

Showing 260 of 260 available metrics for this ticker.

Profile and market data

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

Metric	Value
Amount currency	CNY
Country	China
Country code	CN
Earnings date	2026-10-30
Employees	6,649
Employees change	-212
Employees growth	-3.09%
Enterprise value	CNY 17B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-06-30
First seen	2026-05-10
Fiscal year end	December
Founded	1993
Industry	Beverages - Brewers
Is primary listing	Yes
ISIN number	CNE000000TL3
Last earnings date	2026-08-20
Last refreshed	2026-10-28
Last stock split date	2008-05-19
Last stock split type	Forward
Market cap	CNY 17.9B
Next earnings date	2026-10-30
Price	CNY 37.05
Price currency	CNY
Sector	Consumer Staples
SIC code	2082
Stock price date	2026-10-28
Symbol	sha/600132
Website	https://www.carlsbergchina.com.cn

Valuation

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

Metric	Value
Average P/E ratio (10Y)	44.61x
Average P/E ratio (3Y)	23.78x
Average P/E ratio (5Y)	33.77x
Earnings yield	6.46%
EV/Earnings	14.63x
EV/EBIT	5.74x
EV/EBITDA	4.86x
EV/FCF	7.66x
EV/Sales	1.18x
FCF / EV yield	13.05%
FCF yield	12.37%
Forward P/E	15.42x
Graham number	13.2729
Graham upside	-64.18%
Industry forward P/E	14.77x
Industry P/E	15.74x
Lynch fair value	CNY 11.96
Lynch upside	-67.71%
P/B ratio	5.32x
P/E ratio	15.49x
P/FCF ratio	8.08x
P/OCF ratio	6.97x
P/S ratio	1.24x
Price / tangible book value	86.46x
Price/EBITDA ratio	5.2x
Sector forward P/E	19.11x
Sector P/E	30.51x

Profitability

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

Metric	Value
EBIT margin	20.49%
EBITDA margin	23.87%
Effective tax rate	24.63%
FCF margin	15.34%
Gross margin	50.51%
Operating margin	20.49%
Pretax margin	21.44%
Profit margin	8.04%
Profit per employee	CNY 174,739
Profitable quarters	2
Profitable years	10
Revenue per employee	CNY 2.2M
ROA	15.12%
ROA (5Y)	16.68%
ROCE	75.87%
ROE	68.35%
ROE (5Y)	84.08%
ROIC	241.58%
ROIC (5Y)	409.43%
Tax / revenue	5.28%

Growth

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

Metric	Value
EPS growth	7.37%
EPS growth (Q)	-8.72%
EPS growth (QoQ)	-17.82%
EPS growth 3Y	-6.21%
EPS growth 5Y	1.79%
EPS growth years	1
FCF growth	6.8%
FCF growth (Q)	-27.12%
FCF growth (QoQ)	-31.4%
FCF growth 3Y	-4.61%
FCF growth 5Y	-4.76%
Gross profit growth	3.04%
Gross profit growth (Q)	-6.99%
Gross profit growth 3Y	0.15%
Gross profit growth 5Y	4.62%
Net income growth	7.75%
Net income growth (Q)	-8.69%
Net income growth (QoQ)	-18.17%
Net income growth 3Y	-6.05%
Net income growth 5Y	1.94%
Net income growth years	1
OCF growth	-11.11%
OCF growth (Q)	-22.61%
OCF growth (QoQ)	-27.03%
OCF growth 10Y	17.42%
OCF growth 3Y	-10.58%
OCF growth 5Y	-6.39%
Operating income growth	-3.55%
Operating income growth (Q)	-19.84%
Operating income growth 3Y	-3.53%
Operating income growth 5Y	7.15%
Revenue growth	-1.13%
Revenue growth (Q)	-5.75%
Revenue growth (QoQ)	-2.85%
Revenue growth 10Y	16%
Revenue growth 3Y	-0.34%
Revenue growth 5Y	2.98%
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	CNY -354.3M
Depreciation and amortization	CNY 488.5M
EBIT	CNY 3B
EBITDA	CNY 3.5B
EPS	CNY 2.39
FCF per share	CNY 4.58
Financing cash flow	CNY -2.5B
Free cash flow	CNY 2.2B
Gross profit	CNY 7.3B
Income taxes	CNY 763.6M
Investing cash flow	CNY -250.4M
Net borrowing	CNY -61.5M
Net cash flow	CNY -180.6M
Net income	CNY 1.2B
Operating income	CNY 3B
Revenue	CNY 14.5B

Financial strength

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

Metric	Value
Altman Z-Score	3.65
Book value per share	CNY 3.27
Debt / EBITDA	0.03
Debt / equity	0.04
Debt / FCF	0.05
Goodwill	CNY 699.2M
Interest coverage	739.16
Long-term assets	CNY 6.9B
Long-term liabilities	CNY 531.7M
Net cash (debt)	CNY 2.7B
Net cash / market cap	15.16%
Net cash growth	-4.26%
Net debt / EBITDA	-0.79
Net debt / equity	-0.81
Net debt / FCF	-1.23
Piotroski F-Score	6
Property, plant and equipment	CNY 4.5B
Shareholders' equity	CNY 3.4B
Tangible book value	CNY 207.4M
Tangible book value per share	CNY 0.43
Total assets	CNY 12B
Total cash	CNY 2.8B
Total debt	CNY 120M
Total liabilities	CNY 8.6B
WACC	5.47%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	1.18
Current assets	CNY 5.1B
Current liabilities	CNY 8.1B
Current ratio	0.63
Inventory turnover	4.12
Net working capital	CNY -5.8B
Quick ratio	0.41
Working capital	CNY -3B
Working capital turnover	-4.75

Dividends and buybacks

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

Metric	Value
Buyback yield / dilution	-0.35%
Dividend growth	4.17%
Dividend growth (10Y)	28.73%
Dividend growth (3Y)	-1.3%
Dividend growth (5Y)	4.56%
Dividend growth years	0
Dividend payment date	2026-06-18
Dividend payment years	5
Dividend payout frequency	Semi-Annual
Dividend per share	CNY 2.50
Dividend yield	6.75%
Ex-dividend date	2026-06-18
FCF payout ratio	54.54%
Last dividend	CNY 1.20
Payout ratio	104.14%
Shareholder yield	6.39%

Performance and technicals

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

Metric	Value
10Y price change	96.66%
10Y return CAGR	10.01%
10Y total return	159.56%
150-day SMA	CNY 46.28
15Y price change	-42.5%
15Y return CAGR	-1.48%
15Y total return	-20%
1D price change	-1.28%
1M price change	-1.36%
1M total return	-1.36%
1W price change	-0.27%
1W total return	-0.27%
1Y price change	-30.41%
1Y return CAGR	-26.86%
1Y total return	-26.84%
20-day SMA	CNY 38.02
200-day SMA	CNY 48.27
20Y price change	133.55%
20Y return CAGR	6.2%
20Y total return	232.75%
3M price change	-15.18%
3M total return	-15.18%
3Y price change	-55.24%
3Y return CAGR	-20.05%
3Y total return	-48.91%
50-day SMA	CNY 39.24
50-day SMA vs 200-day SMA	50under200
52-week high	CNY 59.85
52-week high date	2026-03-18
52-week low	CNY 36.68
52-week low date	2026-10-22
5Y price change	-72.72%
5Y return CAGR	-20.15%
5Y total return	-67.53%
6M price change	-32.3%
6M total return	-30.53%
All-time high	CNY 209.99
All-time high date	2021-07-22
All-time low	CNY 2.75
All-time low date	2005-06-06
Average true range (ATR)	CNY 0.80
Average volume	2.9M
Beta (1Y)	-0.21
Beta (2Y)	-0.02
Beta (5Y)	0.22
Change from 52-week high	-38.1%
Change from 52-week low	1.01%
Change from all-time high	-82.36%
Change from all-time low	1,248.25%
Change from open	-1.25%
Day's gap	-0.03%
Dollar volume	CNY 78.9M
High price	CNY 37.71
Low price	CNY 37.02
Monthly RSI	31.91
Open price	CNY 37.52
Position in 52-week range	4.35%
Previous close	CNY 37.53
Price vs 150-day SMA	-19.94%
Price vs 20-day SMA	-2.55%
Price vs 200-day SMA	-23.25%
Price vs 50-day SMA	-5.58%
Relative volume	0.74
RSI	39.59
Sharpe ratio	-1.49
Sharpe ratio (3Y)	-0.89
Sharpe ratio (5Y)	-0.71
Sortino ratio	-1.79
Sortino ratio (3Y)	-1.08
Sortino ratio (5Y)	-0.87
Volume	2.1M
Weekly RSI	27.75
YTD price change	-29.08%
YTD total return	-27.22%

Ownership and float

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

Metric	Value
Float	193.6M
Shares change (QoQ)	-0.43%
Shares change (YoY)	0.35%
Shares held by institutions	12.53%
Shares outstanding	484M

Deeper analysis on SHA/600132

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

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

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

→

Sensitivity

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

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Risks

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

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Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

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

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Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Frequently asked questions

About this SHA/600132 report

Is a complete SHA/600132 research report available?

No complete published report is available for sha/600132 (SHA/600132) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

SHA/600132 (SHA/600132)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600132

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600132 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on SHA/600132

Frequently asked questions