Which companies are Puyang Refractories's closest peers?

The cockpit's peer set: IsoEnergy (ISO.TO), Changzhou Zhongying Science & Technology (300936.SZ), Lumina Metals (LMCU.TO), Hootech (301026.SZ), Straits Trading (S20.SI), Gloria Material Technology (5009.TWO), Bannerman Energy (BMN.AX), OSAKA Titanium Technologies (5726.T).

How has Puyang Refractories stock performed?

Over six months to 6 Nov 2026 the shares returned -28.4% against -29.6% for the median peer; over one year -42.8%.

← CockpitCompetitor Analysis › 002225.SZ Puyang Refractories Group Co., Ltd. Class AOpen in the cockpit ↗

Puyang Refractories Group Co., Ltd. Class A002225.SZCompetitor analysis, valuation and peers

China · CNY·Materials›Other Metals/Minerals

Momentum weak 31

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$550M

US dollars, full cap

Free float

97%

of shares outstanding

$/day

$8.60M

20-day average traded

Fwd P/E

14.6×

forward earnings

ROIC−WACC

-4.7 pp

WACC 5.9%

Hurdle

+19 pp

Req g minus delivered

Next earnings

161 days

16 Apr 2027

Close · CNYCN¥3.22

1D-1.2%

1W+5.9%

1M-6.4%

3M-13.7%

6M-28.4%

YTD-43.5%

1Y-42.8%

ATR %3.2%

52w lowhigh54.0% off high

What Puyang Refractories does

Employees: 3,995

Puyang Refractories at a glance

Size Puyang Refractories (002225.SZ) is a China Materials company (Other Metals/Minerals) with a market value of $550M, the 3630th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.22 on 6 Nov 2026.

Performance Over six months the shares fell 28.4%, against -29.6% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 20 in its peer set.

Growth Revenue grew 1.6% over the last twelve months (peer median +4.6%); the operating margin is 2.0% (peer median 9.1%).

Valuation It trades at 14.6× forward earnings against a peer median of 21.1× (4th cheapest of 7).

Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +19 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 4.7 points below its cost of capital (5.9% WACC).

Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Puyang Refractories against the median of its 20 peers (local-currency closes).

Puyang Refractories financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥5.37B	CN¥5.47B	CN¥5.18B	CN¥5.43B	CN¥4.91B
Revenue growth	—	+6%	-5%	+11%	—
Gross profit	CN¥902M	CN¥904M	CN¥923M	CN¥1.01B	CN¥921M
EBITDA	CN¥286M	CN¥290M	CN¥314M	CN¥425M	CN¥329M
Net income	CN¥32.9M	CN¥86.6M	CN¥135M	CN¥248M	CN¥230M
Free cash flow	CN¥117M	CN¥178M	CN¥332M	CN¥252M	-CN¥396M
Capital expenditure	CN¥54.6M	CN¥101M	CN¥102M	CN¥132M	CN¥140M
Total debt	CN¥3.21B	CN¥3.02B	CN¥3.03B	CN¥2.98B	CN¥2.63B

Quarterly statements and history in the cockpit →

Puyang Refractories competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Puyang Refractories is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Puyang Refractories is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Puyang Refractories is the large dot.

Puyang Refractories competitors and peer comparison

How Puyang Refractories compares with its peers

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.

Puyang Refractories against its 20 peers (data as of 6 Nov 2026)
Measure	002225.SZ	Peer median	Rank in peer set
1-month return	-6.4%	-14.6%	4th highest of 20
6-month return	-28.4%	-29.6%	10th highest of 20
Distance from 52-week high	-54.0%	-45.6%	6th lowest of 20
Revenue growth (TTM)	+1.6%	+4.6%	5th lowest of 12
Operating margin	2.0%	9.1%	4th lowest of 13
Forward P/E	14.6×	21.1×	4th cheapest of 7
Growth the price implies (Req g, 7 yrs)	24.5%	0.6%	3rd most demanding of 6
Growth delivered (Del g)	+5.7%	+15.1%	3rd lowest of 6
Hurdle (Req g minus delivered)	+18.8 pp	+5.1 pp	3rd most demanding of 6
ROIC minus cost of capital	-4.7 pp	-2.6 pp	9th lowest of 18
EV / EBITDA	21.1×	15.4×	2nd most expensive of 5
Net debt / EBITDA	7.9×	0.7×	most indebted of 6

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Puyang Refractories 002225.SZ	China	$550M	-28%	+2%	2%	14.6×	24.5%	+5.7%
IsoEnergy ISO.TO	Canada	$549M	-30%	n/a	n/a	n/a	n/a	n/a
Changzhou Zhongying Science & Technology 300936.SZ	China	$556M	-32%	+15%	-4%	n/a	n/a	n/a
Lumina Metals LMCU.TO	Canada	$544M	-33%	n/a	n/a	n/a	n/a	n/a
Hootech 301026.SZ	China	$541M	-27%	+121%	3%	n/a	n/a	n/a
Straits Trading S20.SI	Singapore	$541M	-14%	+30%	13%	n/a	0.6%	+15.1%
Gloria Material Technology 5009.TWO	Taiwan	$527M	-15%	+3%	10%	11.3×	n/a	n/a
Bannerman Energy BMN.AX	Australia	$578M	-15%	n/a	n/a	n/a	n/a	n/a
OSAKA Titanium Technologies 5726.T	Japan	$584M	-18%	-8%	13%	30.9×	n/a	n/a
Core Lithium CXO.AX	Australia	$516M	-35%	n/a	-160%	7.8×	n/a	n/a
Guangdong Mingzhu 600382.SS	China	$512M	-36%	-6%	18%	n/a	-4.3%	-9.4%
Qinghai Jinrui Mineral Development 600714.SS	China	$593M	-38%	-6%	5%	n/a	53.0%	+15.3%
Deep Yellow DYL.AX	Australia	$510M	-57%	n/a	n/a	n/a	n/a	n/a
Meridian Mining MNO.TO	Canada	$598M	-8%	n/a	n/a	n/a	n/a	n/a
Shivalik Bimetal Controls SBCL.NS	India	$609M	+61%	+19%	21%	42.3×	45.7%	+22.8%
Arafura Rare Earths ARU.AX	Australia	$610M	-56%	n/a	n/a	n/a	n/a	n/a
Ruitai Materials Technology 002066.SZ	China	$489M	-40%	-1%	-4%	40.9×	n/a	n/a
Abenojar Tungsten ABT.L	United Kingdom	$619M	n/a	n/a	n/a	n/a	n/a	n/a
Xiamen Sunrise 002593.SZ	China	$485M	-25%	+5%	8%	n/a	-7.2%	+4.1%
Lindian Resources LIN.AX	Australia	$481M	-50%	n/a	n/a	n/a	n/a	n/a
Indian Metals & Ferro Alloys IMFA.NS	India	$633M	-25%	+32%	23%	10.2×	n/a	n/a

Questions

Which companies are Puyang Refractories's closest peers?: The cockpit's peer set: IsoEnergy (ISO.TO), Changzhou Zhongying Science & Technology (300936.SZ), Lumina Metals (LMCU.TO), Hootech (301026.SZ), Straits Trading (S20.SI), Gloria Material Technology (5009.TWO), Bannerman Energy (BMN.AX), OSAKA Titanium Technologies (5726.T).
Is Puyang Refractories expensive compared with its peers?: On forward p/e it trades at 14.6× against a peer median of 21.1×, 4th cheapest of 7 in its peer set. For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +19 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.
How has Puyang Refractories stock performed?: Over six months to 6 Nov 2026 the shares returned -28.4% against -29.6% for the median peer; over one year -42.8%.