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Sinopec's oilfield services arm, providing drilling, well logging and engineering services to China's oil and gas industry.
Sinopec's oilfield services arm, providing drilling, well logging and engineering services to China's oil and gas industry.
Is paid by contract for drilling, logging and engineering work, and much of that work comes from Sinopec group's own oil and gas fields, so volume follows the parent's upstream spending more than an open market. Sinopec Group controls the company, which also takes some contracts from other Chinese oil firms.
In one line: China's Halliburton/Schlumberger unit.
Moat: narrow (installed base, scale, customer qualification). Captive, large-scale supplier to state-owned Sinopec's upstream operations.
Headquarters: Beijing, China · Founded: 2011 · Employees: 57,076
Size Sinopec Oilfield Service (1033.HK) is a Hong Kong Energy company (Contract Drilling) with a market value of $4.72B, the 264th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$0.65 on 6 Nov 2026.
Performance Over six months the shares fell 14.5%, against -15.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th highest of 8 in its peer set.
Growth Revenue grew 3.3% over the last twelve months (peer median +4.0%); the operating margin is 2.3% (peer median 11.3%).
Valuation It trades at 13.8× forward earnings against a peer median of 15.8× (3rd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 12% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +9 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 2.6 points below its cost of capital (6.2% WACC).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$90.7B | HK$87.5B | HK$87.9B | HK$88.4B | HK$85.8B |
| Revenue growth | — | 0% | -1% | +3% | — |
| Gross profit | HK$7.01B | HK$6.74B | HK$6.42B | HK$5.81B | HK$6.28B |
| EBITDA | HK$9.86B | HK$9.44B | HK$9.73B | HK$8.58B | HK$8.61B |
| Net income | HK$794M | HK$754M | HK$673M | HK$637M | HK$679M |
| Free cash flow | HK$4.84B | HK$3.58B | -HK$1.24B | HK$795M | -HK$339M |
| Capital expenditure | HK$2.88B | HK$3.00B | HK$3.99B | HK$4.59B | HK$4.53B |
| Total debt | n/a | HK$38.0B | HK$33.3B | HK$32.8B | HK$31.9B |
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 Oilfield Service 1033.HK | $4.72B | -14% | +3% | 2% | 13.8× | 12.0% |
| Halliburton HAL | $26.3B | -20% | +2% | 13% | 11.7× | -0.3% |
| Schlumberger SLB | $73.7B | -6% | +5% | 14% | 17.2× | 7.3% |
| China Oilfield Services 2883.HK | $7.31B | -18% | +7% | 12% | 6.7× | -10.3% |
| Baker Hughes BKR | $47.5B | -25% | +4% | 12% | 17.4× | 10.0% |
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 | 1033.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.6% | -5.0% | highest of 8 |
| 6-month return | -14.5% | -15.6% | 4th highest of 8 |
| Distance from 52-week high | -65.4% | -26.9% | lowest of 8 |
| Revenue growth (TTM) | +3.3% | +4.0% | 3rd lowest of 8 |
| Operating margin | 2.3% | 11.3% | lowest of 8 |
| Forward P/E | 13.8× | 15.8× | 3rd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 12.0% | 16.0% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +2.7% | +11.7% | lowest of 6 |
| Hurdle (Req g minus delivered) | +9.3 pp | -0.9 pp | 2nd most demanding of 6 |
| ROIC minus cost of capital | -2.6 pp | -4.5 pp | 3rd highest of 8 |
| EV / EBITDA | 7.5× | 7.0× | 3rd most expensive of 7 |
| Net debt / EBITDA | 3.7× | 1.7× | most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sinopec Oilfield Service 1033.HK | Hong Kong | $4.72B | -14% | +3% | 2% | 13.8× | 12.0% | +2.7% |
| Valaris VAL | United States | $5.54B | -16% | -12% | 11% | 11.1× | n/a | n/a |
| Transocean RIG | United States | $5.85B | -18% | +4% | 21% | 19.4× | 3.8% | +4.7% |
| Helmerich & Payne HP | United States | $3.52B | -7% | +17% | 3% | 26.3× | 19.9% | +16.1% |
| Noble NE | United States | $6.53B | -18% | -13% | 11% | 36.8× | 19.0% | +27.8% |
| China Oilfield Services 601808.SS | China | $7.30B | -16% | +3% | 12% | 14.1× | -16.5% | +11.7% |
| Seadrill SDRL | United States | $2.63B | -13% | +17% | 10% | 15.8× | 16.0% | +6.3% |
| Odfjell Drilling ODL.OL | Norway | $2.57B | +4% | +11% | 23% | 10.0× | n/a | n/a |