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Chinese maker of decorative building panels, laminate flooring and wood-based boards for home renovation and furniture makers.
Chinese maker of decorative building panels, laminate flooring and wood-based boards for home renovation and furniture makers.
In one line: A Chinese decorative-panel/flooring materials producer.
Moat: narrow (brand, distribution). Established brand and dealer network in decorative panel and flooring products.
Headquarters: Deqing, Zhejiang, China · Employees: 2,965
Size Dehua TB New Decoration Material (002043.SZ) is a China Materials company (Forest Products) with a market value of $1.60B, the 1544th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.38 on 6 Nov 2026.
Performance Over six months the shares fell 9.8%, against -0.4% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 3.7% over the last twelve months (peer median +1.9%); the operating margin is 8.7% (peer median 4.6%).
Valuation It trades at 15.2× forward earnings against a peer median of 28.1× (2nd cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 60.2 points above its cost of capital (8.7% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.38B | CN¥8.86B | CN¥9.17B | CN¥9.03B | CN¥8.88B |
| Revenue growth | — | -3% | +1% | +2% | — |
| Gross profit | CN¥1.63B | CN¥1.52B | CN¥1.62B | CN¥1.61B | CN¥1.56B |
| EBITDA | n/a | CN¥761M | CN¥863M | CN¥872M | CN¥718M |
| Net income | CN¥547M | CN¥702M | CN¥585M | CN¥689M | CN¥446M |
| Free cash flow | CN¥811M | CN¥767M | CN¥863M | CN¥1.81B | CN¥808M |
| Capital expenditure | CN¥89.0M | CN¥103M | CN¥295M | CN¥109M | CN¥160M |
| Total debt | CN¥66.0M | CN¥131M | CN¥322M | CN¥351M | CN¥788M |
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 |
|---|---|---|---|---|---|---|
| Dehua TB New Decoration Material 002043.SZ | $1.60B | -10% | +4% | 9% | 15.2× | -1.3% |
| Der Future Science & Technology 002631.SZ | $1.04B | +10% | -26% | -23% | n/a | n/a |
| Suofeiya Home Collection 002572.SZ | $1.12B | -35% | -22% | 8% | 20.7× | -2.8% |
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 | 002043.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.4% | +0.4% | 4th highest of 21 |
| 6-month return | -9.8% | -0.4% | 8th lowest of 21 |
| Distance from 52-week high | -26.4% | -25.9% | 11th highest of 21 |
| Revenue growth (TTM) | +3.7% | +1.9% | 8th highest of 21 |
| Operating margin | 8.7% | 4.6% | 7th highest of 21 |
| Forward P/E | 15.2× | 28.1× | 2nd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -1.3% | 20.6% | 3rd least demanding of 14 |
| Growth delivered (Del g) | +6.6% | +5.9% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | -7.8 pp | +13.1 pp | 4th least demanding of 14 |
| ROIC minus cost of capital | +60.2 pp | -3.3 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dehua TB New Decoration Material 002043.SZ | China | $1.60B | -10% | +4% | 9% | 15.2× | -1.3% | +6.6% |
| Zhongfu Straits (Pingtan) Development 000592.SZ | China | $1.93B | -38% | -29% | -37% | n/a | 25.3% | +1.5% |
| Vohringer Home Technology 603226.SS | China | $1.30B | -38% | -3% | -40% | n/a | n/a | n/a |
| Canfor CFP.TO | Canada | $1.22B | +17% | +2% | -1% | n/a | n/a | n/a |
| Inwido INWI.ST | Sweden | $1.16B | +39% | +11% | 10% | 16.9× | 2.5% | +6.1% |
| Sakata Seed 1377.T | Japan | $1.13B | +2% | +12% | 11% | 16.2× | 0.2% | +8.5% |
| Der Future Science & Technology 002631.SZ | China | $1.04B | +10% | -26% | -23% | n/a | n/a | n/a |
| XIAMEN WANLI STONE STOCK 002785.SZ | China | $1.03B | -40% | -33% | -7% | 47.6× | n/a | n/a |
| Stella-Jones SJ.TO | Canada | $2.56B | -12% | +2% | 13% | 11.8× | -9.1% | +6.5% |
| Jilin Quanyangquan 600189.SS | China | $897M | +1% | +9% | 11% | 109.0× | 16.6% | -1.7% |
| Bunka Shutter 5930.T | Japan | $779M | -1% | +3% | 6% | n/a | -12.9% | +6.4% |
| Zhejiang Tianzhen Technology 301356.SZ | China | $713M | -7% | +2% | 4% | 26.0× | 27.5% | -7.1% |
| Interfor IFP.TO | Canada | $634M | +42% | -7% | 1% | 59.2× | n/a | n/a |
| Mengtian Home 603216.SS | China | $607M | -39% | -5% | 3% | 62.7× | 39.4% | -2.6% |
| UFP Industries UFPI | United States | $4.41B | -5% | -1% | 5% | 17.7× | 9.9% | +4.2% |
| Stylam Industries STYLAMIND.NS | India | $563M | +19% | +10% | 18% | 28.1× | n/a | n/a |
| Greenlam Industries GREENLAM.NS | India | $550M | -11% | +20% | 7% | 34.9× | 28.3% | +20.7% |
| Dongguan HuaLi Industries 603038.SS | China | $498M | -27% | +15% | 6% | n/a | 20.6% | +7.5% |
| Louisiana-Pacific LPX | United States | $5.27B | 0% | -12% | 5% | 34.9× | 39.1% | -0.6% |
| West Fraser Timber WFG.TO | Canada | $5.35B | +12% | -8% | -11% | n/a | n/a | n/a |
| Trex TREX | United States | $5.58B | +36% | +9% | 19% | 26.9× | 21.1% | +5.9% |