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Ship and container leasing and financial-services arm of the COSCO Shipping group.
Ship and container leasing and financial-services arm of the COSCO Shipping group.
In one line: China's marine-leasing answer to a Textainer/Triton.
Moat: narrow (scale, customer relationships). Backed by the world's largest shipping group (COSCO), giving scale and captive leasing demand.
Headquarters: Shanghai, China · Employees: 16,581
Size COSCO SHIPPING Development (2866.HK) is a Hong Kong Industrials company (Marine Shipping) with a market value of $3.84B, the 299th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$0.89 on 6 Nov 2026.
Performance Over six months the shares fell 21.9%, against +11.9% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 2.3% over the last twelve months (peer median +8.5%); the operating margin is 13.0% (peer median 21.5%).
Valuation It trades at 3.6× forward earnings against a peer median of 9.0× (cheapest of 21).
Capital Return on invested capital runs 2.8 points below its cost of capital (5.2% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$29.4B | HK$27.1B | HK$29.7B | HK$17.2B | HK$29.6B |
| Revenue growth | — | -9% | +73% | -42% | — |
| Gross profit | HK$4.61B | HK$4.87B | HK$5.04B | HK$4.75B | HK$7.53B |
| EBITDA | HK$7.21B | HK$7.03B | HK$6.67B | HK$5.99B | HK$8.60B |
| Net income | HK$1.84B | HK$1.75B | HK$1.60B | HK$1.56B | HK$4.56B |
| Free cash flow | -HK$8.54B | -HK$7.52B | -HK$5.06B | -HK$2.23B | HK$2.72B |
| Capital expenditure | HK$11.5B | HK$9.88B | HK$8.34B | HK$4.12B | HK$8.00B |
| Total debt | n/a | HK$104B | HK$93.7B | HK$99.2B | HK$104B |
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 Development 2866.HK | $3.84B | -22% | -2% | 13% | 3.6× | n/a |
| Pacific Basin Shipping 2343.HK | $2.22B | +6% | -6% | 6% | 9.0× | 7.9% |
| Bohai Leasing 000415.SZ | $4.44B | +2% | -7% | 26% | 5.6× | n/a |
| Global Ship Lease GSL | $1.41B | -8% | +6% | 48% | 4.1× | -15.2% |
| Danaos DAC | $2.70B | +10% | +2% | 48% | 5.3× | -8.7% |
| Costamare CMRE | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% |
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 | 2866.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | -8.2% | 2nd highest of 21 |
| 6-month return | -21.9% | +11.9% | lowest of 21 |
| Distance from 52-week high | -48.0% | -15.7% | lowest of 21 |
| Revenue growth (TTM) | -2.3% | +8.5% | 7th lowest of 20 |
| Operating margin | 13.0% | 21.5% | 6th lowest of 21 |
| Forward P/E | 3.6× | 9.0× | cheapest of 21 |
| ROIC minus cost of capital | -2.8 pp | +1.8 pp | 5th lowest of 21 |
| EV / EBITDA | 17.4× | 6.2× | most expensive of 15 |
| Net debt / EBITDA | 13.2× | 0.9× | most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| COSCO SHIPPING Development 2866.HK | Hong Kong | $3.84B | -22% | -2% | 13% | 3.6× | n/a | n/a |
| Hoegh Autoliners HAUTO.OL | Norway | $3.64B | +20% | -4% | 30% | 9.6× | -0.1% | +16.4% |
| ZIM Integrated Shipping Services ZIM | United States | $3.37B | +5% | -25% | 6% | 3.7× | 2.7% | +11.6% |
| COSCO Shipping Specialized Carriers 600428.SS | China | $4.40B | +25% | +37% | 19% | 8.9× | -17.9% | +27.0% |
| Star Bulk Carriers SBLK | United States | $2.99B | 0% | +6% | 28% | 5.7× | -0.1% | +8.5% |
| Shenzhen Yan Tian Port 000088.SZ | China | $2.97B | +2% | +19% | 12% | 16.5× | 21.8% | +10.1% |
| Shanghai Jinjiang Shipping (Group) 601083.SS | China | $2.75B | +17% | +11% | 24% | 11.3× | -18.7% | +15.2% |
| Danaos DAC | United States | $2.70B | +10% | +2% | 48% | 5.3× | -8.7% | +17.7% |
| Capital Tankers CAPT.OL | Norway | $2.57B | +45% | n/a | 37% | 7.3× | n/a | n/a |
| Nanjing Tanker 601975.SS | China | $2.50B | -21% | +12% | 26% | 9.0× | -8.4% | +7.6% |
| T.S. Lines 2510.HK | Hong Kong | $2.48B | +38% | -4% | 19% | 5.8× | -6.9% | +9.8% |
| Yang Ming Marine Transport 2609.TW | Taiwan | $6.03B | +14% | -22% | 6% | 6.5× | n/a | n/a |
| Navios Maritime Partners LP NMM | United States | $2.42B | +14% | +19% | 39% | 3.9× | n/a | n/a |
| Matson MATX | United States | $6.34B | +16% | 0% | 14% | 10.9× | 11.8% | +7.0% |
| Kirby KEX | United States | $6.39B | -15% | +8% | 14% | 14.6× | 6.2% | +9.2% |
| Pacific Basin Shipping 2343.HK | Hong Kong | $2.22B | +6% | -6% | 6% | 9.0× | 7.9% | +7.3% |
| Great Eastern Shipping GESHIP.NS | India | $2.16B | -8% | +24% | 42% | 5.1× | 8.2% | +10.1% |
| Wisdom Marine Lines 2637.TW | Taiwan | $2.13B | +28% | +10% | 33% | 9.1× | -1.8% | +7.2% |
| Wallenius Wilhelmsen WAWI.OL | Norway | $7.58B | +29% | -11% | 25% | 10.4× | -6.6% | +21.0% |
| PanOcean 028670.KS | South Korea | $1.91B | -12% | +24% | 9% | 5.0× | n/a | n/a |
| Clarkson CKN.L | United Kingdom | $1.90B | -5% | +15% | 14% | 13.9× | 5.2% | +12.0% |