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Supplies materials and logistics to the railway sector, with rail operations and maintenance and hazardous-goods transport.
Supplies materials and logistics to the railway sector, with rail operations and maintenance and hazardous-goods transport.
Is paid for managing and supplying materials for railway projects, plus rail logistics, hazardous-goods transport and railway operation and maintenance services. It took its current shape in a 2020-21 restructuring, when the former FAW Xiali car maker sold its vehicle business and took in the China Railway Materials group's assets; the state ultimately controls it.
Moat: narrow (distribution, customer qualification). State-controlled supplier with long-standing ties to the railway industry.
Headquarters: Beijing, China · Employees: 4,155
Size China Railway Materials (000927.SZ) is a China Consumer Discretionary company (Motor Vehicles) with a market value of $2.20B, the 1160th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.42 on 6 Nov 2026.
Performance Over six months the shares fell 13.9%, against -14.0% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +10.2%); the operating margin is 1.9% (peer median 4.5%).
Valuation It trades at 0.6× enterprise value to sales against a peer median of 1.1× (6th cheapest of 20).
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 -5%, so the hurdle is +11 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 0.5 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥34.7B | CN¥34.3B | CN¥38.1B | CN¥45.0B | CN¥55.2B |
| Revenue growth | — | -10% | -15% | -18% | — |
| Gross profit | CN¥2.26B | CN¥1.93B | CN¥1.80B | CN¥2.07B | CN¥2.44B |
| EBITDA | n/a | CN¥1.00B | CN¥828M | CN¥1.02B | CN¥1.41B |
| Net income | CN¥450M | CN¥576M | CN¥456M | CN¥571M | CN¥709M |
| Free cash flow | CN¥168M | CN¥277M | CN¥753M | CN¥475M | -CN¥698M |
| Capital expenditure | CN¥163M | CN¥138M | CN¥349M | CN¥502M | CN¥181M |
| Total debt | CN¥7.47B | CN¥5.82B | CN¥6.68B | CN¥9.94B | CN¥11.3B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| China Railway Materials 000927.SZ | $2.20B | -14% | +1% | 2% | 0.6× | 6.3% |
| Sinotrans 601598.SS | $6.74B | +18% | -1% | 0% | 0.5× | 4.3% |
| Wuchan Zhongda 600704.SS | $3.86B | 0% | +3% | 1% | 0.2× | -2.5% |
| Xiamen International Trade 600755.SS | $1.77B | -10% | +28% | 0% | 0.2× | n/a |
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 | 000927.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.4% | -1.7% | 10th lowest of 21 |
| 6-month return | -13.9% | -14.0% | 11th highest of 21 |
| Distance from 52-week high | -29.4% | -34.3% | 9th highest of 21 |
| Revenue growth (TTM) | +1.1% | +10.2% | 7th lowest of 21 |
| Operating margin | 1.9% | 4.5% | 9th lowest of 21 |
| EV / Sales | 0.6× | 1.1× | 6th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 6.3% | 1.7% | 4th most demanding of 13 |
| Growth delivered (Del g) | -5.0% | +9.9% | lowest of 13 |
| Hurdle (Req g minus delivered) | +11.3 pp | -7.5 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | -0.5 pp | +0.8 pp | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Railway Materials 000927.SZ | China | $2.20B | -14% | +1% | 2% | 0.6× | 6.3% | -5.0% |
| Thule THULE.ST | Sweden | $2.39B | -6% | +2% | 17% | 2.6× | 9.3% | +5.9% |
| Zhejiang Taotao Vehicles 301345.SZ | China | $1.91B | -54% | +53% | 25% | 2.3× | 2.2% | +23.3% |
| Force Motors FORCEMOT.NS | India | $2.64B | -8% | +16% | 12% | 2.4× | 25.2% | +35.4% |
| Blue Bird BLBD | United States | $1.82B | -18% | +13% | 12% | 1.1× | 3.7% | +11.0% |
| Ola Electric Mobility OLAELEC.NS | India | $1.81B | -3% | -49% | -83% | 9.1× | n/a | n/a |
| Aima Technology 603529.SS | China | $2.67B | -11% | -11% | 5% | 0.8× | n/a | n/a |
| Jiangling Motors 000550.SZ | China | $1.70B | -12% | +7% | 1% | n/a | n/a | n/a |
| Beiqi Foton Motor 600166.SS | China | $2.88B | -31% | +13% | 1% | 0.4× | -1.2% | +1.3% |
| Trigano TRI.PA | France | $2.93B | -16% | +2% | 9% | 0.6× | -6.0% | +10.9% |
| Xuzhou Handler Special Vehicle 300201.SZ | China | $1.64B | -9% | +18% | 22% | 5.4× | 22.0% | -3.3% |
| Dongfeng Automobile 600006.SS | China | $1.53B | -24% | -5% | -13% | 1.3× | n/a | n/a |
| Mitsubishi Motor 7211.T | Japan | $3.21B | +13% | +5% | 3% | 0.2× | n/a | n/a |
| Yadea 1585.HK | Hong Kong | $3.36B | -28% | +13% | 7% | 0.5× | -11.2% | +13.0% |
| Sanyang Motor 2206.TW | Taiwan | $1.43B | +8% | -3% | 8% | 1.4× | 1.2% | +9.0% |
| Harley-Davidson HOG | United States | $3.40B | +28% | -15% | -4% | 0.9× | 0.4% | +2.0% |
| Minth 0425.HK | Hong Kong | $3.45B | -37% | +14% | 11% | 1.1× | 2.7% | +14.8% |
| Sinotruk Jinan Truck 000951.SZ | China | $3.46B | -10% | +36% | 4% | 0.4× | -5.8% | -0.8% |
| Volvo Car VOLCAR-B.ST | Sweden | $3.63B | -45% | -17% | 0% | 0.1× | n/a | n/a |
| Lucid LCID | United States | $1.30B | -48% | +67% | -259% | 4.6× | n/a | n/a |
| BAIC BluePark New Energy Technology 600733.SS | China | $4.02B | -41% | +54% | -19% | 1.3× | n/a | n/a |