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AVIC's large-aircraft manufacturer, building Chinese military transport and bomber airframes.
AVIC's large-aircraft manufacturer, building Chinese military transport and bomber airframes.
Sells aircraft to the Chinese military under state-approved contracts rather than on an open market, so output and pricing follow defence procurement plans. It is the large-aircraft maker within the state-owned AVIC group, which controls it. Civil structural work for foreign aircraft builders is a smaller sideline.
In one line: China's Boeing Defense/Lockheed for large military aircraft.
Moat: wide (regulatory licence, scale). State-designated sole producer of China's large military transport and bomber airframes.
Headquarters: Xi'an, China · Founded: 1958 · Employees: 24,751
Size AVIC Xi'an Aircraft Industry (000768.SZ) is a China Industrials company (Aerospace & Defense) with a market value of $9.92B, the 251st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.78 on 6 Nov 2026.
Performance Over six months the shares gained 1.2%, against -9.8% for the median peer and -16.4% for the China market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 34.2% over the last twelve months (peer median +17.9%); the operating margin is 2.5% (peer median 9.1%).
Valuation It trades at 55.7× forward earnings against a peer median of 27.8× (4th most expensive of 20).
Capital Return on invested capital runs 2.1 points below its cost of capital (7.6% WACC).
Next results Next results expected around 6 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥29.4B | CN¥40.9B | CN¥43.0B | CN¥40.1B | CN¥37.3B |
| Revenue growth | — | -5% | +7% | +8% | — |
| Gross profit | CN¥2.97B | CN¥2.56B | CN¥2.20B | CN¥2.46B | CN¥2.12B |
| EBITDA | n/a | CN¥2.16B | CN¥2.08B | CN¥1.82B | CN¥1.75B |
| Net income | CN¥804M | CN¥1.15B | CN¥1.02B | CN¥861M | CN¥524M |
| Free cash flow | -CN¥3.83B | -CN¥9.21B | -CN¥1.41B | -CN¥6.64B | CN¥28.5B |
| Capital expenditure | CN¥1.05B | CN¥909M | CN¥1.40B | CN¥1.17B | CN¥875M |
| Total debt | CN¥5.86B | CN¥9.51B | CN¥9.78B | CN¥13.3B | CN¥10.1B |
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 |
|---|---|---|---|---|---|---|
| AVIC Xi'an Aircraft Industry 000768.SZ | $9.92B | +1% | -34% | 3% | 55.7× | n/a |
| Lockheed Martin LMT | $131B | +12% | +8% | 12% | 17.6× | -6.9% |
| Boeing BA | $137B | -27% | +18% | 0% | 179,875.5× | n/a |
| Airbus AIR.PA | $174B | +14% | +6% | 8% | 26.8× | 22.6% |
| Embraer S.A. Sponsored ADR EMBJ | $14.1B | +23% | +20% | 8% | 23.6× | 16.9% |
| Northrop Grumman NOC | $74.6B | -4% | +7% | 11% | 17.8× | 0.2% |
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 | 000768.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | +1.0% | 6th highest of 21 |
| 6-month return | +1.2% | -9.8% | 7th highest of 21 |
| Distance from 52-week high | -25.6% | -32.4% | 6th highest of 21 |
| Revenue growth (TTM) | -34.2% | +17.9% | lowest of 21 |
| Operating margin | 2.5% | 9.1% | 5th lowest of 21 |
| Forward P/E | 55.7× | 27.8× | 4th most expensive of 20 |
| ROIC minus cost of capital | -2.1 pp | +0.8 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AVIC Xi'an Aircraft Industry 000768.SZ | China | $9.92B | +1% | -34% | 3% | 55.7× | n/a | n/a |
| Hensoldt HAG.DE | Germany | $10.0B | +2% | +15% | 10% | 41.3× | 12.2% | +15.3% |
| Moog MOG-A | United States | $10.3B | +3% | +16% | 12% | 27.8× | 15.1% | +6.0% |
| Jonhon Optronic Technology 002179.SZ | China | $10.7B | -7% | +6% | 11% | 30.4× | n/a | n/a |
| Leonardo DRS DRS | United States | $9.08B | -18% | +9% | 11% | 23.1× | 4.6% | +5.6% |
| BWX Technologies BWXT | United States | $11.0B | -42% | +18% | 10% | 23.8× | 19.6% | +8.5% |
| Huntington Ingalls Industries HII | United States | $11.4B | -8% | +13% | 5% | 14.4× | 5.3% | +5.9% |
| Raytron Technology 688002.SS | China | $8.64B | -15% | +84% | 29% | 26.4× | 20.1% | +32.1% |
| Crane CR | United States | $11.6B | +11% | +22% | 18% | 25.8× | 17.5% | -3.5% |
| AVIC Airborne Systems 600372.SS | China | $8.36B | -11% | -2% | 5% | 48.1× | n/a | n/a |
| Melrose Industries MRO.L | United Kingdom | $7.80B | -4% | +9% | 11% | 13.4× | 15.3% | -12.8% |
| Korea Aerospace 047810.KS | South Korea | $7.37B | -39% | +44% | 6% | 45.4× | n/a | n/a |
| Loar LOAR | United States | $7.05B | +26% | +30% | 25% | 52.2× | 29.1% | +27.5% |
| Embraer S.A. Sponsored ADR EMBJ | United States | $14.1B | +23% | +20% | 8% | 23.6× | 16.9% | +14.5% |
| Textron TXT | United States | $14.2B | -8% | +9% | 7% | 11.9× | 8.3% | +4.9% |
| Hanwha Systems 272210.KS | South Korea | $6.93B | -57% | +30% | 6% | 82.5× | n/a | n/a |
| Csg CSG.AS | Netherlands | $14.6B | -20% | +72% | 25% | 11.7× | n/a | n/a |
| Kratos Defense & Security Solutions KTOS | United States | $6.59B | -39% | +26% | 2% | 36.4× | n/a | n/a |
| China Aerospace Times Electronics 600879.SS | China | $6.43B | -46% | -13% | 1% | 130.0× | n/a | n/a |
| BETA Technologies BETA | United States | $6.37B | +45% | +136% | -1,033% | n/a | n/a | n/a |
| AECC Aviation Power 600893.SS | China | $15.8B | -15% | +18% | 2% | 173.7× | n/a | n/a |