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Leading Chinese bulldozer manufacturer, also making road rollers and other earthmoving machinery.
Leading Chinese bulldozer manufacturer, also making road rollers and other earthmoving machinery.
Sells through dealers to construction and mining contractors, so demand follows infrastructure and mining activity and dealers' stock levels. Bulldozers are the flagship, and exports to developing markets are a growing outlet beside China's cyclical home market.
In one line: China's Caterpillar for bulldozers.
Moat: narrow (scale, brand, installed base). China's top bulldozer brand by volume with a long track record and export presence.
Headquarters: Jining, Shandong, China · Founded: 1952 · Employees: 7,247
Size Shantui Construction Machinery (000680.SZ) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $2.06B, the 1225th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.31 on 6 Nov 2026.
Performance Over six months the shares fell 21.8%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 14.1% over the last twelve months (peer median +11.7%); the operating margin is 9.7% (peer median 6.3%).
Valuation It trades at 9.8× forward earnings against a peer median of 11.5× (3rd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.6 points above its cost of capital (5.7% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥16.5B | CN¥14.6B | CN¥14.2B | CN¥11.3B | CN¥9.97B |
| Revenue growth | — | +3% | +25% | +14% | — |
| Gross profit | CN¥3.91B | CN¥3.03B | CN¥2.75B | CN¥2.08B | CN¥1.38B |
| EBITDA | n/a | CN¥1.61B | CN¥1.35B | CN¥993M | CN¥398M |
| Net income | CN¥1.38B | CN¥1.21B | CN¥1.10B | CN¥783M | CN¥632M |
| Free cash flow | CN¥1.00B | CN¥732M | CN¥494M | CN¥329M | CN¥300M |
| Capital expenditure | CN¥48.1M | CN¥66.8M | CN¥49.5M | CN¥68.1M | CN¥100M |
| Total debt | CN¥8.12B | CN¥7.90B | CN¥8.49B | CN¥5.42B | CN¥3.62B |
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 |
|---|---|---|---|---|---|---|
| Shantui Construction Machinery 000680.SZ | $2.06B | -22% | +14% | 10% | 9.8× | -4.4% |
| Caterpillar CAT | $257B | -38% | +20% | 19% | 18.8× | 18.0% |
| Komatsu 6301.T | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% |
| Guangxi Liugong Machinery 000528.SZ | $2.58B | -13% | +10% | 6% | 10.5× | -3.5% |
| Sany Heavy Industry 600031.SS | $24.6B | -4% | +18% | 11% | 17.4× | -2.6% |
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 | 000680.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.5% | 0.0% | 8th highest of 21 |
| 6-month return | -21.8% | -10.8% | 5th lowest of 21 |
| Distance from 52-week high | -32.3% | -31.0% | 10th lowest of 21 |
| Revenue growth (TTM) | +14.1% | +11.7% | 5th highest of 21 |
| Operating margin | 9.7% | 6.3% | 8th highest of 21 |
| Forward P/E | 9.8× | 11.5× | 3rd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -4.4% | 2.2% | 3rd least demanding of 16 |
| Growth delivered (Del g) | +15.6% | +6.1% | highest of 16 |
| Hurdle (Req g minus delivered) | -19.9 pp | -5.1 pp | 2nd least demanding of 16 |
| ROIC minus cost of capital | +5.6 pp | -0.7 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shantui Construction Machinery 000680.SZ | China | $2.06B | -22% | +14% | 10% | 9.8× | -4.4% | +15.6% |
| Anhui Heli 600761.SS | China | $2.06B | -14% | +13% | 7% | 10.9× | -6.7% | +9.2% |
| NFI NFI.TO | Canada | $2.06B | +13% | +15% | 2% | 11.0× | 12.0% | +9.3% |
| CIMC Vehicles (Group) 301039.SZ | China | $2.07B | -18% | +6% | 4% | 16.6× | -4.3% | -5.2% |
| Mitsui ES 7003.T | Japan | $1.98B | -45% | +12% | 11% | 8.7× | 16.0% | -11.3% |
| Sumec 600710.SS | China | $2.18B | -9% | +14% | 4% | 9.8× | -17.2% | +3.6% |
| First Tractor 601038.SS | China | $1.95B | +2% | +12% | 6% | 17.5× | -1.6% | +7.5% |
| Takeuchi Mfg.Co 6432.T | Japan | $2.21B | +4% | +12% | 16% | 10.6× | 4.0% | +14.9% |
| Beijing Jiuzhouyigui Environmental Technology 688485.SS | China | $1.91B | +29% | +9% | 2% | n/a | n/a | n/a |
| ZHEJIANG ZHONGJIAN TECHNOLOGY 002779.SZ | China | $2.26B | +2% | +28% | -17% | 150.7× | n/a | n/a |
| Nisshinbo 3105.T | Japan | $1.87B | -9% | +2% | 7% | 11.5× | 3.6% | +1.9% |
| Trinity Industries TRN | United States | $2.30B | -20% | -2% | 13% | 15.8× | n/a | n/a |
| China Railway Hi-tech Industry 600528.SS | China | $2.37B | -9% | -8% | 5% | n/a | -4.0% | +2.6% |
| Cadeler A/S CADLR.OL | Norway | $2.41B | -14% | +53% | 36% | 9.4× | n/a | n/a |
| Deutz DEZ.DE | Germany | $1.74B | -13% | +11% | 5% | 11.4× | 19.8% | +9.5% |
| BEML BEML.NS | India | $1.72B | -2% | +13% | 6% | 39.1× | n/a | n/a |
| Xiangyang Changyuandonggu Industry 603950.SS | China | $1.72B | -36% | -8% | 17% | 22.8× | 22.1% | +6.1% |
| JiangSu Changling Hydraulic 605389.SS | China | $1.72B | -32% | +19% | 12% | n/a | 36.1% | +4.4% |
| CoCreation Grass 605099.SS | China | $1.72B | -41% | +10% | 21% | 15.4× | 2.2% | +12.3% |
| Wacker Neuson WAC.DE | Germany | $1.71B | +20% | +14% | 7% | 13.4× | 1.5% | +6.6% |
| Guangxi Liugong Machinery 000528.SZ | China | $2.58B | -13% | +10% | 6% | 10.5× | -3.5% | +5.0% |