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One of China's largest water and wastewater-treatment operators, building and running municipal water plants and pipe networks.
One of China's largest water and wastewater-treatment operators, building and running municipal water plants and pipe networks.
Earns mostly a fee for every tonne of water treated under long concession contracts with Chinese city governments (build-operate-transfer deals: it builds a plant, runs it for years, then hands it back), plus construction income while plants are built. Beijing Enterprises Holdings, an arm of the Beijing city government, is its controlling shareholder.
In one line: China's American Water.
Moat: narrow (regulatory licence, scale, installed base). Long-dated municipal water concessions and one of China's largest treatment capacities create utility-like cash flow.
Headquarters: Beijing / Hong Kong · Founded: 1993 · Employees: 81,250
Size Beijing Enterprises Water (0371.HK) is a Hong Kong Industrials company (Engineering & Construction) with a market value of $1.86B, the 436th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.46 on 6 Nov 2026.
Performance Over six months the shares fell 47.9%, against -10.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 5.3% over the last twelve months (peer median +5.3%); the operating margin is 24.4% (peer median 7.0%).
Valuation It trades at 9.5× forward earnings against a peer median of 13.6× (2nd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +5 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 1.8 points below its cost of capital (5.0% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$24.0B | HK$23.9B | HK$26.3B | HK$24.5B | HK$21.5B |
| Revenue growth | — | -9% | +7% | +14% | — |
| Gross profit | HK$9.03B | HK$9.06B | HK$9.62B | HK$8.91B | HK$8.41B |
| EBITDA | HK$7.69B | HK$7.74B | HK$8.28B | HK$7.33B | HK$6.72B |
| Net income | HK$1.41B | HK$1.58B | HK$1.70B | HK$1.83B | HK$1.14B |
| Free cash flow | HK$2.27B | HK$3.14B | -HK$1.79B | -HK$1.81B | -HK$617M |
| Capital expenditure | HK$1.28B | HK$1.23B | HK$1.13B | HK$2.17B | HK$886M |
| Total debt | n/a | HK$93.2B | HK$88.8B | HK$80.0B | HK$76.0B |
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 |
|---|---|---|---|---|---|---|
| Beijing Enterprises Water 0371.HK | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% |
| China Everbright Environment 0257.HK | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% |
| China Water Affairs 0855.HK | $823M | -22% | -11% | 25% | 5.8× | -0.6% |
| China Everbright Water U9E.SI | $462M | -13% | -33% | 34% | n/a | -1.4% |
| Guangdong Investment 0270.HK | $6.81B | 0% | +25% | 38% | 10.8× | -1.8% |
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 | 0371.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.9% | -4.8% | 11th highest of 21 |
| 6-month return | -47.9% | -10.4% | 2nd lowest of 21 |
| Distance from 52-week high | -51.2% | -26.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | -5.3% | +5.3% | 6th lowest of 21 |
| Operating margin | 24.4% | 7.0% | 2nd highest of 21 |
| Forward P/E | 9.5× | 13.6× | 2nd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 4.2% | -2.6% | 8th most demanding of 17 |
| Growth delivered (Del g) | -1.2% | +6.0% | 2nd lowest of 17 |
| Hurdle (Req g minus delivered) | +5.4 pp | -12.3 pp | 4th most demanding of 17 |
| ROIC minus cost of capital | -1.8 pp | +7.1 pp | 6th lowest of 20 |
| EV / EBITDA | 16.2× | 11.5× | 4th most expensive of 13 |
| Net debt / EBITDA | 11.2× | -0.6× | most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Enterprises Water 0371.HK | Hong Kong | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% | -1.2% |
| Jinko Power Technology 601778.SS | China | $1.86B | -49% | -25% | 16% | n/a | n/a | n/a |
| Mega Union Technology 6944.TW | Taiwan | $1.82B | -17% | +60% | 21% | 14.1× | -4.0% | +30.2% |
| China Next-Gen Commerce and Supply Chain 3928.HK | Hong Kong | $1.81B | +47% | -26% | -17% | n/a | n/a | n/a |
| Badger Infrastructure Solutions BDGI.TO | Canada | $1.80B | -10% | +16% | 8% | 19.2× | 21.0% | +15.8% |
| Guangdong Construction Engineering 002060.SZ | China | $1.79B | -15% | -11% | 3% | 8.0× | n/a | n/a |
| HAZAMA ANDO 1719.T | Japan | $1.94B | -11% | +4% | 8% | 9.8× | -11.7% | +4.5% |
| NRW NWH.AX | Australia | $1.95B | -17% | +31% | 6% | 13.6× | 8.5% | +14.1% |
| Kier KIE.L | United Kingdom | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% | +5.9% |
| Monadelphous MND.AX | Australia | $1.98B | -4% | +29% | 5% | 22.7× | 5.3% | +9.7% |
| Sanki Engineering 1961.T | Japan | $1.98B | -12% | +2% | 12% | 11.5× | -6.5% | +6.0% |
| Engineers India ENGINERSIN.NS | India | $1.74B | +12% | +6% | 20% | 25.2× | 29.6% | +4.6% |
| Suzhou Gold Mantis Construction and Decoration 002081.SZ | China | $1.74B | -25% | -8% | 3% | 29.6× | 12.2% | -11.1% |
| CSSC Science & Technology 600072.SS | China | $1.99B | -35% | +8% | -37% | n/a | n/a | n/a |
| Tasmea TEA.AX | Australia | $1.73B | +49% | +136% | 8% | 18.9× | 4.6% | +59.3% |
| Chongqing Sanfeng Environment 601827.SS | China | $2.00B | -3% | +5% | 27% | 10.4× | -11.4% | +2.4% |
| SHO BOND 1414.T | Japan | $1.71B | -6% | -2% | 23% | 16.3× | -7.5% | +2.2% |
| Burkhalter BRKN.SW | Switzerland | $1.71B | -27% | -2% | 6% | 21.5× | -1.3% | +19.0% |
| Per Aarsleff Holding A/S PAAL-B.CO | Denmark | $2.02B | -6% | +14% | 5% | 13.4× | -7.6% | +11.2% |
| Chudenko 1941.T | Japan | $1.71B | +3% | +9% | 12% | 11.0× | -8.6% | +4.3% |
| China Aluminum International Engineering 2068.HK | Hong Kong | $1.71B | -39% | -6% | 4% | 13.3× | 11.9% | -0.6% |