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Maker of a leading strong-aroma-style baijiu brand, one of China's oldest continuously operating liquor distilleries.
Maker of a leading strong-aroma-style baijiu brand, one of China's oldest continuously operating liquor distilleries.
The high-end Guojiao 1573 line carries profit, sold through distributors, with older Luzhou Laojiao lines below it, so earnings hinge on that single brand's standing in banquets and gifting. The city government of Luzhou ultimately controls it through the parent distillery group.
In one line: China's Diageo/Brown-Forman for premium spirits.
Moat: narrow (brand). Historic distillery heritage supports pricing power, though behind Moutai/Wuliangye nationally.
Headquarters: Luzhou, China · Employees: 3,912
Size Luzhou Laojiao (000568.SZ) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $17.9B, the 125th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥81.17 on 6 Nov 2026.
Performance Over six months the shares fell 18.9%, against -2.9% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 38.0% over the last twelve months (peer median -1.3%); the operating margin is 40.0% (peer median 15.4%).
Valuation It trades at 17.5× forward earnings against a peer median of 14.5× (8th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.9 points above its cost of capital (8.3% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥17.3B | CN¥21.9B | CN¥26.6B | CN¥26.2B | CN¥21.7B |
| Revenue growth | — | -17% | +1% | +21% | — |
| Gross profit | CN¥14.3B | CN¥18.4B | CN¥22.6B | CN¥22.6B | CN¥18.2B |
| EBITDA | CN¥7.69B | CN¥14.8B | CN¥18.4B | CN¥17.9B | CN¥14.1B |
| Net income | CN¥5.74B | CN¥10.8B | CN¥13.5B | CN¥13.2B | CN¥10.4B |
| Free cash flow | CN¥119M | CN¥5.27B | CN¥18.1B | CN¥9.20B | CN¥7.27B |
| Capital expenditure | CN¥1.74B | CN¥1.93B | CN¥1.19B | CN¥1.50B | CN¥1.04B |
| Total debt | CN¥5.97B | CN¥6.87B | CN¥9.88B | CN¥12.2B | CN¥6.88B |
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 |
|---|---|---|---|---|---|---|
| Luzhou Laojiao 000568.SZ | $17.9B | -19% | -38% | 40% | 17.5× | 9.9% |
| Kweichow Moutai 600519.SS | $272B | +5% | -4% | 65% | 21.7× | 0.7% |
| Wuliangye Yibin 000858.SZ | $43.9B | -22% | -6% | 32% | 22.1× | 7.1% |
| Shanxi Xinghuacun Fen Wine Factory 600809.SS | $24.1B | -8% | -9% | 36% | 17.1× | 3.0% |
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 | 000568.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.8% | +7.8% | 9th highest of 21 |
| 6-month return | -18.9% | -2.9% | 4th lowest of 21 |
| Distance from 52-week high | -44.4% | -18.9% | 2nd lowest of 21 |
| Revenue growth (TTM) | -38.0% | -1.3% | lowest of 20 |
| Operating margin | 40.0% | 15.4% | highest of 20 |
| Forward P/E | 17.5× | 14.5× | 8th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 9.9% | -1.3% | 2nd most demanding of 19 |
| Growth delivered (Del g) | +8.7% | +4.4% | 6th highest of 19 |
| Hurdle (Req g minus delivered) | +1.1 pp | -7.7 pp | 3rd most demanding of 19 |
| ROIC minus cost of capital | +8.9 pp | +4.8 pp | 6th highest of 20 |
| EV / EBITDA | 13.3× | 9.6× | 4th most expensive of 15 |
| Net debt / EBITDA | -2.2× | 2.7× | least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Luzhou Laojiao 000568.SZ | China | $17.9B | -19% | -38% | 40% | 17.5× | 9.9% | +8.7% |
| Asahi Group Hldgs 2502.T | Japan | $16.4B | +10% | +3% | 9% | 13.1× | 1.8% | +7.4% |
| Pernod Ricard RI.PA | France | $20.0B | +16% | -14% | 26% | 12.5× | 2.1% | +1.3% |
| Carlsberg AS CARL-A.CO | Denmark | $20.9B | +12% | +10% | 14% | 17.2× | -2.2% | +8.8% |
| Kirin 2503.T | Japan | $15.2B | +21% | +6% | 11% | 13.7× | -4.2% | +5.6% |
| Brown–Forman BF-B | United States | $14.2B | +11% | 0% | 29% | 17.9× | -5.1% | +2.7% |
| Constellation Brands STZ | United States | $24.0B | -4% | -4% | 30% | 11.9× | -4.5% | +1.2% |
| Shanxi Xinghuacun Fen Wine Factory 600809.SS | China | $24.1B | -8% | -9% | 36% | 17.1× | 3.0% | +22.7% |
| Heineken HEIO.AS | Netherlands | $24.7B | +32% | +1% | 12% | 14.5× | -1.1% | +7.8% |
| United Spirits UNITDSPR.NS | India | $10.9B | +11% | 0% | 15% | 53.0× | 44.2% | +8.9% |
| Bud Apac 1876.HK | Hong Kong | $10.7B | -16% | -3% | 15% | 20.1× | -0.9% | +0.7% |
| Tsingtao Brewery 0168.HK | Hong Kong | $9.12B | -21% | +1% | 16% | 10.8× | -5.0% | +2.6% |
| Davide Campari-Milano CPR.MI | Italy | $8.93B | +22% | -1% | 20% | 21.0× | 3.6% | +11.5% |
| China Res Beer 0291.HK | Hong Kong | $8.66B | -18% | +3% | 15% | 10.7× | -1.5% | +3.1% |
| Thai Beverage Public Y92.SI | Singapore | $8.56B | +2% | -8% | 13% | 10.6× | -4.7% | +3.2% |
| Jiangsu Yanghe Distillery 002304.SZ | China | $8.50B | -23% | -31% | 4% | 32.6× | n/a | n/a |
| Molson Coors Beverage TAP | United States | $7.54B | -4% | -2% | 12% | 9.2× | -4.7% | +2.9% |
| Ambev SA Sponsored ADR ABEV | United States | $43.2B | -15% | +4% | 23% | 14.5× | -5.5% | +6.9% |
| Molson Coors Canada TPX-B.TO | Canada | $7.38B | -12% | n/a | n/a | n/a | n/a | n/a |
| Wuliangye Yibin 000858.SZ | China | $43.9B | -22% | -6% | 32% | 22.1× | 7.1% | -9.6% |
| Anhui Gujing Distillery 000596.SZ | China | $7.29B | -2% | -28% | 17% | 21.5× | 4.3% | +12.7% |