SHA/600938 (SHA/600938)

Shanghai Stock Exchange: SHA/600938 · CNY

CN¥34.9

-0.41 (-1.2%)· Recorded snapshot

Market cap	1T
Revenue (ttm)	433.3B
Net income (ttm)	138.4B
EPS (ttm)	CN¥2.86
P/E (trailing)	12.2x
P/E (forward)	6.6x
Dividend	CN¥1.29 (3.71%)
Volume	46,201,802
Beta	0.38

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 433.3B
Net income (ttm): 138.4B
EPS (ttm): CN¥2.86
P/E (trailing): 12.2x
P/E (forward): 6.6x
Market cap: 1T

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E6.6

P25 n/aP50 n/aP75 n/a

Trailing P/E12.2

P25 n/aP50 n/aP75 n/a

ROE16.8

P25 n/aP50 n/aP75 n/a

ROIC21.9

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All SHA/600938 indicators

Market & fundamental data

Available fields

239

Groups with data

Currency

CNY

Showing 239 of 239 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	22,045
Employees change	-136
Employees growth	-0.61%
Enterprise value	CNY 762.7B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-06-30
First seen	2026-05-10
Fiscal year end	December
Founded	1999
Industry	Oil & Gas Exploration & Production
Is primary listing	No
ISIN number	CNE100005980
Last earnings date	2026-08-26
Last refreshed	2026-10-28
Market cap	CNY 1T
Next earnings date	2026-10-30
Price	CNY 34.85
Price currency	CNY
Sector	Energy
SIC code	1311
Stock price date	2026-10-28
Symbol	sha/600938

Valuation

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

Metric	Value
Average P/E ratio (10Y)	23.93x
Average P/E ratio (3Y)	6.59x
Average P/E ratio (5Y)	5.55x
Earnings yield	8.19%
EV/Earnings	5.51x
EV/EBIT	4.2x
EV/EBITDA	2.89x
EV/FCF	5.92x
EV/Sales	1.79x
FCF / EV yield	16.89%
FCF yield	12.71%
Forward P/E	6.63x
Graham number	56.20797
Graham upside	61.29%
Industry P/E	69.27x
Lynch fair value	CNY 112.43
Lynch upside	222.6%
P/B ratio	1.18x
P/E ratio	12.2x
P/FCF ratio	7.87x
P/OCF ratio	4.2x
P/S ratio	2.34x
Price / tangible book value	1.21x
Price/EBITDA ratio	3.8x
Sector forward P/E	13.62x
Sector P/E	19.48x

Profitability

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

Metric	Value
EBIT margin	42.78%
EBITDA margin	61.51%
Effective tax rate	26.56%
FCF margin	29.73%
Gross margin	75.94%
Operating margin	42.78%
Pretax margin	43.5%
Profit margin	31.94%
Profit per employee	CNY 6.3M
Profitable quarters	20
Profitable years	28
Revenue per employee	CNY 19.7M
ROA	9.98%
ROA (5Y)	10.66%
ROCE	17.46%
ROE	16.81%
ROE (5Y)	19.27%
ROIC	21.9%
ROIC (5Y)	21.11%
Tax / revenue	11.56%

Growth

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

Metric	Value
EPS growth	8.63%
EPS growth (Q)	42.92%
EPS growth (QoQ)	20.28%
EPS growth 3Y	1.28%
EPS growth 5Y	22.1%
EPS growth quarters	1
EPS growth years	0
FCF growth	42.35%
FCF growth (Q)	145.95%
FCF growth (QoQ)	128.95%
FCF growth 3Y	12.37%
FCF growth 5Y	86.83%
Gross profit growth	2.36%
Gross profit growth (Q)	33.69%
Gross profit growth 3Y	0.89%
Gross profit growth 5Y	23%
Net income growth	8.32%
Net income growth (Q)	41.57%
Net income growth (QoQ)	19.24%
Net income growth 3Y	1.18%
Net income growth 5Y	23.63%
Net income growth quarters	1
Net income growth years	0
OCF growth	14.17%
OCF growth (Q)	66.61%
OCF growth (QoQ)	56.82%
OCF growth 10Y	11.68%
OCF growth 3Y	5.96%
OCF growth 5Y	16.55%
Operating income growth	5.27%
Operating income growth (Q)	36.19%
Operating income growth 3Y	1.63%
Operating income growth 5Y	24.58%
Revenue growth	7.96%
Revenue growth (Q)	25.63%
Revenue growth (QoQ)	9.05%
Revenue growth 10Y	11.28%
Revenue growth 3Y	1.7%
Revenue growth 5Y	17.79%
Revenue growth quarters	1
Revenue growth years	0

Financial statements

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

Metric	Value
Capital expenditures	CNY -112.7B
Depreciation and amortization	CNY 81.2B
EBIT	CNY 185.3B
EBITDA	CNY 266.5B
EPS	CNY 2.86
Financing cash flow	CNY -66.9B
Free cash flow	CNY 128.8B
Gross profit	CNY 329B
Income taxes	CNY 50.1B
Investing cash flow	CNY -106.2B
Net borrowing	CNY -4.3B
Net cash flow	CNY 67.6B
Net income	CNY 138.4B
Operating income	CNY 185.3B
Revenue	CNY 433.3B

Financial strength

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

Metric	Value
Altman Z-Score	3.77
Book value per share	CNY 18.01
Debt / EBITDA	0.25
Debt / equity	0.08
Debt / FCF	0.53
Goodwill	CNY 14.5B
Interest coverage	74.05
Long-term assets	CNY 808.7B
Long-term liabilities	CNY 203.3B
Net cash (debt)	CNY 258.2B
Net cash / market cap	25.47%
Net cash growth	40.11%
Net debt / EBITDA	-0.97
Net debt / equity	-0.3
Net debt / FCF	-2
Piotroski F-Score	7
Property, plant and equipment	CNY 685B
Shareholders' equity	CNY 858.6B
Tangible book value	CNY 838.2B
Tangible book value per share	CNY 17.63
Total assets	CNY 1.2T
Total cash	CNY 326.3B
Total debt	CNY 68.1B
Total liabilities	CNY 343.9B
WACC	6.11%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.37
Current assets	CNY 393.8B
Current liabilities	CNY 140.7B
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	1.98

Dividends and buybacks

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

Metric	Value
Buyback yield / dilution	0.01%
Dividend growth	1.64%
Dividend growth (3Y)	2%
Dividend growth years	0
Dividend payment date	2026-10-16
Dividend payment years	5
Dividend payout frequency	Semi-Annual
Dividend per share	CNY 1.29
Dividend yield	3.71%
Ex-dividend date	2026-10-16
Last dividend	CNY 0.81
Payout ratio	43.37%
Shareholder yield	3.72%

Performance and technicals

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

Metric	Value
150-day SMA	CNY 34.27
1D price change	-1.16%
1M price change	6.25%
1M total return	8.79%
1W price change	-0.43%
1W total return	-0.43%
1Y price change	25.68%
1Y return CAGR	30.92%
1Y total return	30.9%
20-day SMA	CNY 34.28
200-day SMA	CNY 34.32
3M price change	10.46%
3M total return	13.1%
3Y price change	75.13%
3Y return CAGR	25.88%
3Y total return	99.52%
50-day SMA	CNY 33.82
50-day SMA vs 200-day SMA	50under200
52-week high	CNY 44.54
52-week high date	2026-03-09
52-week low	CNY 26.40
52-week low date	2026-07-02
6M price change	-10.23%
6M total return	-6.5%
All-time high	CNY 44.54
All-time high date	2026-03-09
All-time low	CNY 12.96
All-time low date	2022-04-21
Average true range (ATR)	CNY 1.06
Average volume	43.3M
Beta (5Y)	0.38
Change from 52-week high	-21.76%
Change from 52-week low	32.01%
Change from all-time high	-21.76%
Change from all-time low	168.9%
Change from open	-0.29%
Day's gap	-0.88%
Dollar volume	CNY 1.6B
High price	CNY 35.09
Low price	CNY 34.36
Monthly RSI	57.65
Open price	CNY 34.95
Position in 52-week range	67.12%
Previous close	CNY 35.26
Price vs 150-day SMA	1.7%
Price vs 20-day SMA	1.65%
Price vs 200-day SMA	1.54%
Price vs 50-day SMA	3.04%
Relative volume	1.07
RSI	54.41
Sharpe ratio	0.95
Sharpe ratio (3Y)	0.78
Sortino ratio	1.76
Sortino ratio (3Y)	1.39
Volume	46.2M
Weekly RSI	55.23
YTD price change	15.47%
YTD total return	20.27%

Ownership and float

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

Metric	Value
Float	17.2B
Shares change (QoQ)	-0.87%
Shares change (YoY)	-0.01%
Shares held by insiders	0%
Shares held by institutions	4.06%

Deeper analysis on SHA/600938

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

Forecast

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

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Valuation

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

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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.

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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.

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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 statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on SHA/600938

Frequently asked questions