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China's largest container-shipping operator, owning COSCO Shipping Lines and a majority stake in OOCL.
China's largest container-shipping operator, owning COSCO Shipping Lines and a majority stake in OOCL.
Earns freight per container moved, some on annual contracts and some at spot rates, so rate changes matter more than shipping volumes. These are the Hong Kong-listed shares of the same company as the Shanghai A-shares, controlled by state-owned China COSCO Shipping, which sails in the Ocean Alliance with CMA CGM and Evergreen.
In one line: China's Maersk, one of the world's largest container carriers.
Moat: narrow (scale, installed base). Among the world's largest container fleets, but shipping is a cyclical commodity business.
Headquarters: Shanghai, China · Founded: 2016 · Employees: 32,768
Size COSCO SHIPPING (1919.HK) is a Hong Kong Industrials company (Marine Shipping) with a market value of $38.5B, the 44th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$17.68 on 6 Nov 2026.
Performance Over six months the shares gained 19.8%, against +11.0% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 5th highest of 14 in its peer set.
Growth Revenue fell 4.8% over the last twelve months (peer median +1.1%); the operating margin is 13.3% (peer median 10.0%).
Valuation It trades at 6.0× forward earnings against a peer median of 8.1× (4th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -9% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.9 points above its cost of capital (6.1% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$248B | HK$238B | HK$254B | HK$194B | HK$455B |
| Revenue growth | — | -6% | +31% | -57% | — |
| Gross profit | HK$44.9B | HK$45.5B | HK$72.6B | HK$29.8B | HK$197B |
| EBITDA | HK$57.7B | HK$57.9B | HK$82.0B | HK$43.1B | HK$208B |
| Net income | HK$29.9B | HK$33.5B | HK$53.3B | HK$26.4B | HK$128B |
| Free cash flow | HK$17.8B | HK$24.0B | HK$48.4B | HK$8.25B | HK$217B |
| Capital expenditure | HK$33.0B | HK$27.1B | HK$28.2B | HK$16.9B | HK$12.2B |
| Total debt | n/a | HK$85.3B | HK$81.1B | HK$92.9B | HK$105B |
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 |
|---|---|---|---|---|---|---|
| COSCO SHIPPING 1919.HK | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% |
| A.P. Moller - Maersk A/S MAERSK-A.CO | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% |
| OOIL 0316.HK | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% |
| Evergreen Marine Corp(taiwan) 2603.TW | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% |
| Hapag-Lloyd HLAG.DE | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% |
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 | 1919.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.1% | -6.5% | highest of 14 |
| 6-month return | +19.8% | +11.0% | 5th highest of 14 |
| Distance from 52-week high | -3.5% | -15.4% | highest of 14 |
| Revenue growth (TTM) | -4.8% | +1.1% | 6th lowest of 14 |
| Operating margin | 13.3% | 10.0% | 6th highest of 14 |
| Forward P/E | 6.0× | 8.1× | 4th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -8.7% | -1.5% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +4.3% | +7.8% | 3rd lowest of 13 |
| Hurdle (Req g minus delivered) | -13.0 pp | -10.4 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | +2.9 pp | +0.8 pp | 5th highest of 14 |
| EV / EBITDA | 4.9× | 10.7× | 2nd cheapest of 11 |
| Net debt / EBITDA | -1.4× | 0.4× | 3rd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| COSCO SHIPPING 1919.HK | Hong Kong | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% | +4.3% |
| Kuehne & Nagel International KNIN.SW | Switzerland | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% | +3.7% |
| A.P. Moller - Maersk A/S MAERSK-A.CO | Denmark | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% | +6.6% |
| Hapag-Lloyd HLAG.DE | Germany | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% | +7.8% |
| China Merchants Energy Shipping 601872.SS | China | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% | +5.4% |
| Nippon Yusen Kabushiki Kaisha 9101.T | Japan | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% | +8.5% |
| Evergreen Marine Corp(taiwan) 2603.TW | Taiwan | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% | +12.9% |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 34% | 10.7× | -0.4% | +15.3% |
| HMM 011200.KS | South Korea | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% | +11.2% |
| Mitsui O.s.k. Lines 9104.T | Japan | $15.0B | +10% | +20% | 6% | 7.3× | n/a | n/a |
| COSCO SHIPPING Energy Transportation 600026.SS | China | $13.2B | -21% | +38% | 33% | 6.1× | -8.2% | +7.8% |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% | +3.6% |
| Kawasaki Kisen Kaisha 9107.T | Japan | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% | +10.2% |
| Ningbo Zhoushan Port 601018.SS | China | $10.4B | -4% | +12% | 16% | n/a | -7.3% | +7.6% |