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China's second-largest baijiu (Chinese liquor) maker, producing the premium Wuliangye brand and other liquor lines.
China's second-largest baijiu (Chinese liquor) maker, producing the premium Wuliangye brand and other liquor lines.
Sells to distributors, many of whom pay in advance, with its flagship Pu Wu bottling carrying most of the profit and cheaper brands adding volume. The Yibin city government controls it. Aged liquor takes years to mature, so supply for the premium product is planned long before it is sold.
In one line: China's Diageo/Brown-Forman for premium spirits.
Moat: wide (brand, scale). Centuries-old brand heritage and aged-liquor inventory create strong pricing power and loyalty.
Headquarters: Yibin, China · Founded: 1959 · Employees: 25,216
Size Wuliangye Yibin (000858.SZ) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $43.9B, the 39th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥75.34 on 6 Nov 2026.
Performance Over six months the shares fell 22.4%, against +11.4% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 14 in its peer set.
Growth Revenue fell 6.0% over the last twelve months (peer median +0.8%); the operating margin is 32.1% (peer median 25.8%).
Valuation It trades at 22.1× forward earnings against a peer median of 15.2× (most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +17 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 79.4 points above its cost of capital (8.5% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥42.7B | CN¥29.7B | CN¥76.3B | CN¥83.3B | CN¥74.0B |
| Revenue growth | — | -61% | -8% | +13% | — |
| Gross profit | CN¥35.4B | CN¥20.6B | CN¥55.9B | CN¥63.1B | CN¥55.8B |
| EBITDA | n/a | CN¥10.5B | CN¥42.3B | CN¥40.2B | CN¥35.9B |
| Net income | CN¥12.2B | CN¥8.95B | CN¥31.9B | CN¥30.2B | CN¥26.7B |
| Free cash flow | CN¥400M | CN¥27.7B | CN¥31.3B | CN¥38.8B | CN¥22.7B |
| Capital expenditure | CN¥1.14B | CN¥1.97B | CN¥2.67B | CN¥2.96B | CN¥1.78B |
| Total debt | CN¥778M | CN¥1.76B | CN¥1.22B | CN¥863M | CN¥1.28B |
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 |
|---|---|---|---|---|---|---|
| Wuliangye Yibin 000858.SZ | $43.9B | -22% | -6% | 32% | 22.1× | 7.1% |
| Kweichow Moutai 600519.SS | $272B | +5% | -4% | 65% | 21.7× | 0.7% |
| Luzhou Laojiao 000568.SZ | $17.9B | -19% | -38% | 40% | 17.5× | 9.9% |
| 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 | 000858.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.4% | +14.7% | 4th lowest of 14 |
| 6-month return | -22.4% | +11.4% | lowest of 14 |
| Distance from 52-week high | -38.5% | -6.0% | 2nd lowest of 14 |
| Revenue growth (TTM) | -6.0% | +0.8% | 5th lowest of 14 |
| Operating margin | 32.1% | 25.8% | 3rd highest of 14 |
| Forward P/E | 22.1× | 15.2× | most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 7.1% | -0.9% | 2nd most demanding of 14 |
| Growth delivered (Del g) | -9.6% | +6.9% | lowest of 14 |
| Hurdle (Req g minus delivered) | +16.7 pp | -5.7 pp | most demanding of 14 |
| ROIC minus cost of capital | +79.4 pp | +4.8 pp | highest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wuliangye Yibin 000858.SZ | China | $43.9B | -22% | -6% | 32% | 22.1× | 7.1% | -9.6% |
| Ambev SA Sponsored ADR ABEV | United States | $43.2B | -15% | +4% | 23% | 14.5× | -5.5% | +6.9% |
| Heineken HEIA.AS | Netherlands | $51.8B | +29% | +1% | 12% | 15.9× | 4.2% | +7.8% |
| Diageo DGE.L | United Kingdom | $56.3B | +25% | -6% | 29% | 15.2× | -0.9% | +2.8% |
| Heineken HEIO.AS | Netherlands | $24.7B | +32% | +1% | 12% | 14.5× | -1.1% | +7.8% |
| Shanxi Xinghuacun Fen Wine Factory 600809.SS | China | $24.1B | -8% | -9% | 36% | 17.1× | 3.0% | +22.7% |
| Constellation Brands STZ | United States | $24.0B | -4% | -4% | 30% | 11.9× | -4.5% | +1.2% |
| Carlsberg AS CARL-A.CO | Denmark | $20.9B | +12% | +10% | 14% | 17.2× | -2.2% | +8.8% |
| Pernod Ricard RI.PA | France | $20.0B | +16% | -14% | 26% | 12.5× | 2.1% | +1.3% |
| 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% |
| 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% |
| Anheuser-Busch InBev SA/NV Sponsored ADR BUD | United States | $168B | +5% | +7% | 26% | 18.9× | 2.7% | +4.7% |