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China's largest integrated oil and gas producer, spanning upstream exploration, refining, chemicals and a nationwide pipeline/retail network.
China's largest integrated oil and gas producer, spanning upstream exploration, refining, chemicals and a nationwide pipeline/retail network.
Earns from crude and gas it produces, fuels and chemicals from its refineries, and gas moved through its pipelines to cities and industry, where some prices are set or guided by the state. Its parent, CNPC, holds most of the shares. These Hong Kong shares and the Shanghai ones are the same company.
In one line: China's ExxonMobil.
Moat: wide (regulatory licence, scale, installed base). State-controlled dominant position across China's upstream, pipeline and refining/retail infrastructure.
Headquarters: Beijing, China · Founded: 1999 · Employees: 367,173
Size Petrochina (0857.HK) is a Hong Kong Energy company (Integrated Oil) with a market value of $345B, the 5th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$10.38 on 6 Nov 2026.
Performance Over six months the shares gained 0.1%, against +12.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 10 in its peer set.
Growth Revenue grew 13.8% over the last twelve months (peer median +17.6%); the operating margin is 8.2% (peer median 16.7%).
Valuation It trades at 8.4× forward earnings against a peer median of 7.2× (4th most expensive of 10).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.0 points above its cost of capital (6.4% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$3.43T | HK$2.88T | HK$2.99T | HK$3.13T | HK$3.58T |
| Revenue growth | — | -4% | -4% | -13% | — |
| Gross profit | HK$642B | HK$335B | HK$418B | HK$476B | HK$510B |
| EBITDA | HK$569B | HK$493B | HK$513B | HK$536B | HK$578B |
| Net income | HK$213B | HK$171B | HK$179B | HK$178B | HK$173B |
| Free cash flow | HK$195B | HK$141B | HK$123B | HK$195B | HK$176B |
| Capital expenditure | HK$309B | HK$318B | HK$328B | HK$315B | HK$285B |
| Total debt | HK$475B | HK$409B | HK$394B | HK$478B | HK$522B |
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 |
|---|---|---|---|---|---|---|
| Petrochina 0857.HK | $345B | 0% | +14% | 8% | 8.4× | -4.6% |
| Sinopec 0386.HK | $97.3B | +7% | +7% | 0% | 11.1× | 31.5% |
| Cnooc 0883.HK | $148B | -9% | +11% | 46% | 5.8× | n/a |
| ExxonMobil XOM | $677B | +16% | +21% | 14% | 11.8× | -5.9% |
| Shell SHEL.L | $284B | +18% | +15% | 16% | 7.7× | -10.9% |
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 | 0857.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.3% | -1.5% | highest of 10 |
| 6-month return | +0.1% | +12.4% | 3rd lowest of 10 |
| Distance from 52-week high | -12.5% | -12.4% | 5th lowest of 10 |
| Revenue growth (TTM) | +13.8% | +17.6% | 4th lowest of 10 |
| Operating margin | 8.2% | 16.7% | lowest of 10 |
| Forward P/E | 8.4× | 7.2× | 4th most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | -4.6% | -13.1% | 3rd most demanding of 9 |
| Growth delivered (Del g) | +7.5% | +12.2% | lowest of 9 |
| Hurdle (Req g minus delivered) | -12.1 pp | -21.8 pp | most demanding of 9 |
| ROIC minus cost of capital | +3.0 pp | +9.6 pp | lowest of 10 |
| EV / EBITDA | 5.4× | 4.4× | 4th most expensive of 10 |
| Net debt / EBITDA | 0.2× | 0.5× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Petrochina 0857.HK | Hong Kong | $345B | 0% | +14% | 8% | 8.4× | -4.6% | +7.5% |
| Chevron CVX | United States | $415B | +18% | +22% | 15% | 11.4× | -3.0% | +14.3% |
| Shell SHEL.L | United Kingdom | $284B | +18% | +15% | 16% | 7.7× | -10.9% | +8.1% |
| TotalEnergies TTE.PA | France | $200B | +2% | +11% | 17% | 7.0× | -15.6% | +9.0% |
| ExxonMobil XOM | United States | $677B | +16% | +21% | 14% | 11.8× | -5.9% | +12.7% |
| Cnooc 0883.HK | Hong Kong | $148B | -9% | +11% | 46% | 5.8× | n/a | n/a |
| Petroleo Brasileiro SA Sponsored ADR PBR | United States | $118B | -9% | +21% | 35% | 3.7× | -19.8% | +11.0% |
| Bp PLC BP..L | United Kingdom | $116B | +2% | +23% | 13% | 5.4× | -16.3% | +11.7% |
| Equinor EQNR.OL | Norway | $102B | +12% | +2% | 33% | 7.2× | -15.4% | +20.7% |
| Canadian Natural Resources CNQ.TO | Canada | $101B | +12% | +18% | 27% | 10.3× | 2.8% | +18.1% |