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Guangdong regional natural-gas distribution utility serving residential, commercial and industrial customers around Foshan.
Guangdong regional natural-gas distribution utility serving residential, commercial and industrial customers around Foshan.
In one line: A regional Chinese city-gas utility.
Moat: narrow (regulatory licence). Regional gas-distribution concession granting exclusive service territory rights.
Headquarters: Foshan, China · Employees: 2,366
Size Foran Energy (002911.SZ) is a China Utilities company (Gas Distributors) with a market value of $2.27B, the 1122nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.65 on 6 Nov 2026.
Performance Over six months the shares fell 4.7%, against -14.0% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 9.6% over the last twelve months (peer median +2.6%); the operating margin is 4.4% (peer median 7.7%).
Valuation It trades at 12.3× forward earnings against a peer median of 11.8× (10th cheapest of 19).
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 +35%, so the hurdle is -42 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.9 points above its cost of capital (5.0% WACC).
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥29.6B | CN¥33.6B | CN¥31.6B | CN¥25.5B | CN¥18.9B |
| Revenue growth | — | +6% | +24% | +35% | — |
| Gross profit | CN¥2.56B | CN¥1.92B | CN¥1.79B | CN¥1.83B | CN¥1.78B |
| EBITDA | n/a | CN¥1.63B | CN¥1.58B | CN¥1.58B | CN¥1.54B |
| Net income | CN¥1.07B | CN¥1.03B | CN¥853M | CN¥844M | CN¥655M |
| Free cash flow | CN¥2.21B | CN¥1.43B | CN¥1.12B | CN¥880M | CN¥355M |
| Capital expenditure | CN¥635M | CN¥552M | CN¥721M | CN¥822M | CN¥1.02B |
| Total debt | CN¥7.28B | CN¥7.67B | CN¥7.12B | CN¥6.51B | CN¥5.90B |
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 |
|---|---|---|---|---|---|---|
| Foran Energy 002911.SZ | $2.27B | -5% | -10% | 4% | 12.3× | -6.9% |
| Shenzhen Gas 601139.SS | $2.79B | -7% | -1% | 7% | 10.7× | -9.2% |
| China Suntien Green Energy 600956.SS | $3.40B | -18% | -12% | 13% | 15.9× | n/a |
| China Resources Gas 1193.HK | $4.77B | -13% | +1% | 6% | 10.7× | 1.8% |
| Enn Energy 2688.HK | $7.02B | -17% | +6% | 7% | 7.6× | -3.4% |
| China Gas 0384.HK | $3.52B | -31% | -7% | 8% | 9.9× | 3.8% |
| Towngas Smart Energy 1083.HK | $1.46B | -15% | +3% | 6% | 7.5× | 6.3% |
| Chongqing Gas 600917.SS | $1.07B | -12% | -4% | 0% | n/a | 15.0% |
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 | 002911.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.7% | -1.0% | 9th highest of 21 |
| 6-month return | -4.7% | -14.0% | 6th highest of 21 |
| Distance from 52-week high | -34.5% | -22.9% | 6th lowest of 21 |
| Revenue growth (TTM) | -9.6% | +2.6% | 3rd lowest of 21 |
| Operating margin | 4.4% | 7.7% | 5th lowest of 21 |
| Forward P/E | 12.3× | 11.8× | 10th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -6.9% | -1.5% | 6th least demanding of 16 |
| Growth delivered (Del g) | +34.8% | +10.3% | highest of 16 |
| Hurdle (Req g minus delivered) | -41.7 pp | -10.1 pp | least demanding of 16 |
| ROIC minus cost of capital | +7.9 pp | -0.8 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Foran Energy 002911.SZ | China | $2.27B | -5% | -10% | 4% | 12.3× | -6.9% | +34.8% |
| Kogas 036460.KS | South Korea | $2.31B | -7% | -10% | 7% | 2.9× | -1.5% | +11.4% |
| Keppel Infrastructure Trust A7RU.SI | Singapore | $2.34B | -8% | +4% | 10% | 23.5× | 8.7% | +8.7% |
| Northwest Natural NWN | United States | $2.18B | +3% | +4% | 36% | 16.6× | n/a | n/a |
| Centuri CTRI | United States | $2.06B | -41% | +25% | 3% | 27.4× | n/a | n/a |
| Shenzhen Gas 601139.SS | China | $2.79B | -7% | -1% | 7% | 10.7× | -9.2% | +14.7% |
| TOHO GAS 9533.T | Japan | $2.83B | +3% | -2% | 1% | 21.3× | 24.6% | +8.4% |
| NIPPON GAS 8174.T | Japan | $1.69B | +1% | +8% | 9% | 17.7× | -2.9% | +7.8% |
| Shanghai Dazhong Public Utilities (Group) 600635.SS | China | $1.59B | -23% | +3% | 4% | n/a | 10.6% | +4.5% |
| Xinjiang Xintai Natural Gas 603393.SS | China | $1.55B | -22% | +4% | 22% | 11.1× | -8.4% | +12.3% |
| SK Gas 018670.KS | South Korea | $1.55B | -19% | +27% | 4% | 7.1× | -17.3% | +11.7% |
| China Suntien Green Energy 0956.HK | Hong Kong | $3.37B | -15% | -8% | 13% | 6.6× | n/a | n/a |
| Chesapeake Utilities CPK | United States | $3.38B | +11% | +15% | 27% | 20.4× | n/a | n/a |
| China Gas 0384.HK | Hong Kong | $3.52B | -31% | -7% | 8% | 9.9× | 3.8% | +1.0% |
| Towngas Smart Energy 1083.HK | Hong Kong | $1.46B | -15% | +3% | 6% | 7.5× | 6.3% | +10.3% |
| Transportadora de Gas del Sur SA Sponsored ADR Class B RegS TGS | United States | $3.80B | -27% | +11% | 44% | 8.2× | -14.6% | +11.8% |
| MDU Resources MDU | United States | $3.92B | -17% | -30% | 17% | 18.9× | n/a | n/a |
| Excelerate Energy EE | United States | $4.17B | +9% | +49% | 22% | 18.6× | 18.1% | +23.3% |
| Shaanxi Provincial Natural Gas 002267.SZ | China | $1.17B | -11% | +2% | 8% | 12.5× | -5.1% | +1.0% |
| Chengdu Gas 603053.SS | China | $1.09B | -16% | -1% | 6% | n/a | -10.0% | +5.1% |
| China Resources Gas 1193.HK | Hong Kong | $4.77B | -13% | +1% | 6% | 10.7× | 1.8% | +11.8% |