Loading…
Chinese maker of passive electronic components (inductors, MLCC, RF components) for smartphones, consumer electronics and autos.
Chinese maker of passive electronic components (inductors, MLCC, RF components) for smartphones, consumer electronics and autos.
Sells passive components in very large volumes, at low prices per piece, to phone, consumer-electronics and car-electronics makers, so income follows utilisation and price cycles in those markets. It has expanded from inductors into capacitors and RF parts, competing with Japanese incumbents such as Murata and TDK.
In one line: China's Murata/TDK for inductors and RF components.
Moat: narrow (scale, customer qualification). Broad component range and smartphone-brand qualification, in a competitive commodity-component market.
Headquarters: Shenzhen, China · Founded: 1984 · Employees: 9,182
Size Shenzhen Sunlord Electronics (002138.SZ) is a China Information Technology company (Electronic Production Equipment) with a market value of $4.55B, the 559th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥37.59 on 6 Nov 2026.
Performance Over six months the shares gained 10.7%, against -19.7% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 19.5% over the last twelve months (peer median +21.1%); the operating margin is 16.3% (peer median 7.3%).
Valuation It trades at 24.4× forward earnings against a peer median of 20.8× (8th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +0 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 2.3 points above its cost of capital (9.1% WACC).
Next results Next results expected around 26 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.05B | CN¥6.71B | CN¥5.86B | CN¥5.00B | CN¥4.21B |
| Revenue growth | — | +15% | +17% | +19% | — |
| Gross profit | CN¥3.18B | CN¥2.31B | CN¥1.99B | CN¥1.65B | CN¥1.30B |
| EBITDA | n/a | CN¥1.89B | CN¥1.72B | CN¥1.41B | CN¥1.06B |
| Net income | CN¥1.05B | CN¥1.02B | CN¥832M | CN¥641M | CN¥433M |
| Free cash flow | CN¥946M | CN¥997M | CN¥612M | CN¥46.7M | -CN¥304M |
| Capital expenditure | CN¥796M | CN¥729M | CN¥819M | CN¥1.10B | CN¥1.37B |
| Total debt | CN¥4.28B | CN¥3.71B | CN¥3.61B | CN¥3.99B | CN¥3.24B |
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 |
|---|---|---|---|---|---|---|
| Shenzhen Sunlord Electronics 002138.SZ | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% |
| Murata Manufacturing 6981.T | $57.1B | -5% | +15% | 20% | 23.0× | 29.8% |
| Tdk 6762.T | $25.4B | -27% | +25% | 10% | 15.0× | 18.2% |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% |
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 | 002138.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.8% | -15.4% | 10th lowest of 21 |
| 6-month return | +10.7% | -19.7% | 4th highest of 21 |
| Distance from 52-week high | -52.9% | -44.6% | 9th lowest of 21 |
| Revenue growth (TTM) | +19.5% | +21.1% | 9th lowest of 21 |
| Operating margin | 16.3% | 7.3% | 4th highest of 21 |
| Forward P/E | 24.4× | 20.8× | 8th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 14.5% | 16.8% | 6th least demanding of 13 |
| Growth delivered (Del g) | +14.2% | +11.1% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | +0.3 pp | +9.5 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | +2.3 pp | +0.6 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Sunlord Electronics 002138.SZ | China | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% | +14.2% |
| LG Innotek 011070.KS | South Korea | $4.62B | -54% | +20% | 4% | 9.6× | -0.3% | +18.1% |
| MDA Space MDA.TO | Canada | $4.65B | -14% | +38% | 5% | 28.1× | n/a | n/a |
| JoulWatt Technology 688141.SS | China | $4.44B | -30% | +50% | -28% | n/a | n/a | n/a |
| Quectel Wireless Solutions 603236.SS | China | $4.71B | +50% | +30% | 5% | 21.1× | n/a | n/a |
| Lagercrantz LAGR-B.ST | Sweden | $4.72B | -6% | +17% | 15% | 30.8× | 20.6% | +21.0% |
| Asmpt 0522.HK | Hong Kong | $5.02B | -47% | +21% | 9% | 20.4× | 12.1% | -1.3% |
| Plexus PLXS | United States | $5.12B | -28% | +23% | 5% | 17.9× | n/a | n/a |
| Universal Display OLED | United States | $3.98B | -4% | -2% | 35% | 19.6× | 14.3% | +8.7% |
| 3Peak 688536.SS | China | $5.26B | -5% | +74% | 16% | 50.7× | 46.0% | +30.6% |
| Jones Tech 300684.SZ | China | $3.83B | +20% | +15% | 20% | 45.3× | 42.9% | +9.8% |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | China | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% | +5.9% |
| AAC Technologies 2018.HK | Hong Kong | $5.60B | -4% | +16% | 8% | 13.8× | 1.2% | +12.4% |
| Guobo Electronics 688375.SS | China | $5.61B | -49% | -12% | 13% | 83.0× | 39.7% | +1.4% |
| Changsha Jingjia Microelectronics 300474.SZ | China | $3.59B | -30% | +50% | -77% | n/a | n/a | n/a |
| Vishay Intertechnology VSH | United States | $3.57B | -32% | +18% | 5% | 13.2× | 18.8% | +4.2% |
| Fositek 6805.TW | Taiwan | $3.50B | -15% | +46% | 27% | 20.0× | 14.7% | +41.1% |
| BYD Electronic 0285.HK | Hong Kong | $6.15B | -24% | +4% | 1% | 19.5× | -0.8% | +18.8% |
| Olympic Circuit Technology 603920.SS | China | $3.29B | -42% | +21% | 6% | 30.1× | n/a | n/a |
| Universal Scientific Industrial (Shanghai) 601231.SS | China | $6.50B | -52% | +4% | 3% | 19.6× | n/a | n/a |
| Guangdong Create Century Intelligent Equipment 300083.SZ | China | $3.13B | +7% | +35% | 11% | 24.4× | n/a | n/a |