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Oil and LNG storage terminal and pipeline investment company affiliated with Sinopec.
Oil and LNG storage terminal and pipeline investment company affiliated with Sinopec.
In one line: China's answer to a midstream terminal/pipeline operator like a smaller Kinder Morgan.
Moat: narrow (regulatory licence, scale, installed base). Strategic storage/pipeline assets tied to Sinopec's import and refining supply chain.
Headquarters: Hong Kong · Employees: 216
Size Sinopec Kantons (0934.HK) is a Hong Kong Energy company (Oil & Gas Pipelines) with a market value of $1.31B, the 529th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$4.12 on 6 Nov 2026.
Performance Over six months the shares gained 3.1%, against -12.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd highest of 11 in its peer set.
Growth Revenue grew 9.5% over the last twelve months (peer median +11.8%); the operating margin is 26.6% (peer median 15.4%).
Valuation It trades at 9.2× forward earnings against a peer median of 11.9× (2nd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +6 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 5.2 points below its cost of capital (6.2% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$705M | HK$659M | HK$667M | HK$610M | HK$616M |
| Revenue growth | — | -1% | +9% | -1% | — |
| Gross profit | HK$331M | HK$319M | HK$324M | HK$258M | HK$288M |
| EBITDA | HK$362M | HK$338M | HK$327M | HK$256M | HK$263M |
| Net income | HK$851M | HK$1.03B | HK$1.18B | HK$1.30B | HK$435M |
| Free cash flow | HK$1.29B | HK$1.24B | HK$1.67B | HK$1.25B | HK$1.72B |
| Capital expenditure | HK$48.4M | HK$47.8M | HK$122M | HK$80.2M | HK$5.49M |
| Total debt | n/a | HK$31.7M | HK$37.1M | HK$44.1M | HK$35.0M |
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 |
|---|---|---|---|---|---|---|
| Sinopec Kantons 0934.HK | $1.31B | +3% | +10% | 27% | 9.2× | 7.7% |
| Kinder Morgan KMI | $66.7B | -5% | +12% | 29% | 19.6× | 7.7% |
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 | 0934.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.8% | -9.3% | highest of 12 |
| 6-month return | +3.1% | -12.3% | 2nd highest of 11 |
| Distance from 52-week high | -8.7% | -25.6% | highest of 12 |
| Revenue growth (TTM) | +9.5% | +11.8% | 6th highest of 11 |
| Operating margin | 26.6% | 15.4% | 4th highest of 12 |
| Forward P/E | 9.2× | 11.9× | 2nd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 7.7% | 2.6% | 3rd most demanding of 10 |
| Growth delivered (Del g) | +1.8% | +11.4% | 3rd lowest of 9 |
| Hurdle (Req g minus delivered) | +5.9 pp | -5.0 pp | 3rd most demanding of 9 |
| ROIC minus cost of capital | -5.2 pp | +0.1 pp | 3rd lowest of 12 |
| EV / EBITDA | 22.3× | 9.3× | most expensive of 8 |
| Net debt / EBITDA | -6.1× | 4.2× | least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sinopec Kantons 0934.HK | Hong Kong | $1.31B | +3% | +10% | 27% | 9.2× | 7.7% | +1.8% |
| Friedrich Vorwerk VH2.DE | Germany | $1.50B | -5% | +22% | 19% | 11.1× | -8.0% | +19.3% |
| NGL Energy Partners LP NGL | United States | $1.87B | -8% | -22% | 12% | 11.9× | 1.2% | -9.6% |
| Rockpoint Gas Storage RGSI.TO | Canada | $2.26B | -16% | +15% | 75% | 8.7× | -3.8% | +21.7% |
| Sichuan Shudao Equipment and Technology 300540.SZ | China | $742M | -41% | -14% | 8% | 48.0× | n/a | n/a |
| Delek Logistics Partners LP DKL | United States | $2.99B | +1% | +30% | 15% | 11.8× | 13.0% | +12.2% |
| Summit Midstream SMC | United States | $551M | -9% | +21% | 16% | 147.3× | 10.9% | +7.9% |
| Golar LNG GLNG | United States | $4.40B | -23% | +95% | 46% | n/a | n/a | n/a |
| GSPL Transmission GSPLTRANS.NS | India | $351M | n/a | n/a | 38% | n/a | 7.4% | n/a |
| Jinhong 000669.SZ | China | $340M | -21% | 0% | 3% | n/a | 6.4% | -11.5% |
| Plains GP Holdings LP PAGP | United States | $5.10B | +11% | +9% | 3% | 14.7× | 2.6% | +13.4% |
| Xinjiang Wanjing Energy 002700.SZ | China | $328M | -22% | -3% | 11% | n/a | -6.8% | +10.6% |