Loading…
Operator of Shenzhen Bao'an International Airport, a major hub airport in the Pearl River Delta.
Operator of Shenzhen Bao'an International Airport, a major hub airport in the Pearl River Delta.
Earns airport charges, such as landing, parking and passenger fees, many set within a regulator's framework, plus rent from shops, advertising and ground services, so passenger traffic lifts both lines. Shenzhen Airport Group, a Shenzhen state-owned company, is the controlling shareholder.
Moat: narrow (regulatory licence, scale). Licensed sole operator of a top-tier Chinese hub airport.
Headquarters: Shenzhen, China · Employees: 5,698
Size Shenzhen Airport (000089.SZ) is a China Industrials company (Other Transportation) with a market value of $2.08B, the 1214th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.75 on 6 Nov 2026.
Performance Over six months the shares fell 5.3%, against -3.4% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 4.7% over the last twelve months (peer median +4.0%); the operating margin is 16.6% (peer median 16.0%).
Valuation It trades at 14.2× forward earnings against a peer median of 12.6× (8th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.33B | CN¥5.12B | CN¥4.73B | CN¥4.16B | CN¥2.66B |
| Revenue growth | — | +8% | +14% | +56% | — |
| Gross profit | CN¥1.97B | CN¥1.07B | CN¥991M | CN¥428M | -CN¥958M |
| EBITDA | n/a | CN¥1.91B | CN¥1.79B | CN¥1.40B | CN¥54.6M |
| Net income | CN¥955M | CN¥525M | CN¥443M | CN¥397M | -CN¥1.12B |
| Free cash flow | CN¥1.82B | CN¥1.48B | CN¥1.47B | CN¥692M | -CN¥373M |
| Capital expenditure | CN¥415M | CN¥482M | CN¥516M | CN¥590M | CN¥789M |
| Total debt | CN¥10.3B | CN¥10.6B | CN¥9.88B | CN¥10.5B | CN¥10.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shenzhen Airport 000089.SZ | $2.08B | -5% | +5% | 17% | 14.2× | -6.4% |
| Guangzhou Baiyun International Airport 600004.SS | $3.18B | -6% | +9% | 11% | 25.2× | -12.5% |
| Xiamen International Airport 600897.SS | $892M | -12% | +33% | 28% | 12.1× | -16.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000089.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.1% | -0.9% | 8th highest of 21 |
| 6-month return | -5.3% | -3.4% | 9th lowest of 21 |
| Distance from 52-week high | -10.1% | -17.6% | 7th highest of 21 |
| Revenue growth (TTM) | +4.7% | +4.0% | 8th highest of 21 |
| Operating margin | 16.6% | 16.0% | 11th highest of 21 |
| Forward P/E | 14.2× | 12.6× | 8th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -6.4% | -3.2% | 7th least demanding of 14 |
| Growth delivered (Del g) | +11.4% | +3.4% | 3rd highest of 14 |
| Hurdle (Req g minus delivered) | -17.8 pp | -12.2 pp | 3rd least demanding of 14 |
| ROIC minus cost of capital | +2.4 pp | +1.2 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Airport 000089.SZ | China | $2.08B | -5% | +5% | 17% | 14.2× | -6.4% | +11.4% |
| NANKAI 9044.T | Japan | $2.03B | 0% | +7% | 15% | 13.1× | n/a | n/a |
| Comfortdelgro C52.SI | Singapore | $2.19B | -10% | +9% | 9% | 15.0× | -8.2% | +9.3% |
| Hutchison Port Holdings Trust NS8U.SI | Singapore | $1.96B | +7% | +5% | 42% | 15.3× | -10.5% | +1.7% |
| Westshore Terminals Investment WTE.TO | Canada | $1.90B | +16% | -16% | 33% | 26.3× | 11.9% | -2.6% |
| Tianjin Port 600717.SS | China | $1.89B | -2% | -8% | 18% | n/a | -14.6% | -1.6% |
| Hainan Strait Shipping 002320.SZ | China | $1.88B | -34% | +4% | 23% | 70.1× | -0.5% | +36.7% |
| Nagoya Railroad 9048.T | Japan | $2.38B | +8% | -2% | 5% | 11.0× | n/a | n/a |
| Hamburger Hafen und Logistik HHFA.DE | Germany | $1.72B | -2% | +3% | 7% | n/a | n/a | n/a |
| SIA Engineering S59.SI | Singapore | $2.51B | -10% | -3% | 3% | 17.7× | 19.3% | +26.3% |
| Evergreen Aviation Technologies 2645.TW | Taiwan | $1.67B | -8% | +10% | 17% | 16.2× | -1.0% | +11.2% |
| Xiamen Xiangyu 600057.SS | China | $2.59B | -14% | +9% | 1% | 8.7× | n/a | n/a |
| Qinhuangdao Port 601326.SS | China | $2.70B | -5% | +2% | 23% | 10.3× | -10.9% | +2.7% |
| FirstGroup FGP.L | United Kingdom | $1.60B | +40% | -6% | 5% | 11.4× | -7.6% | +1.9% |
| Kamigumi 9364.T | Japan | $2.71B | -12% | +5% | 12% | 15.5× | -3.2% | +1.9% |
| Dongguan Development (Holdings) 000828.SZ | China | $1.57B | -3% | -4% | 39% | 10.7× | 0.7% | +4.4% |
| Sankyu 9065.T | Japan | $2.76B | -9% | 0% | 7% | 12.2× | -1.1% | +3.4% |
| Sotetsu 9003.T | Japan | $1.55B | -4% | +9% | 13% | 10.1× | n/a | n/a |
| Shreeji Shipping Global SHREEJISPG.NS | India | $1.53B | +111% | +21% | 24% | n/a | n/a | n/a |
| Sichuan Expressway 0107.HK | Hong Kong | $2.84B | -11% | +8% | 26% | 8.0× | n/a | n/a |
| Fujian Expressway Development 600033.SS | China | $1.51B | +1% | -3% | 47% | n/a | -16.1% | +5.6% |