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Operator of the Port of Shanghai, the world's busiest container port, including the deep-water Yangshan terminal.
Operator of the Port of Shanghai, the world's busiest container port, including the deep-water Yangshan terminal.
Paid by shipping lines per container handled, so earnings follow volume through its terminals rather than the price of goods. It is controlled by the Shanghai municipal government and also operates terminals overseas, including the Haifa Bayport terminal in Israel.
In one line: China's Port of Los Angeles operator, but far larger.
Moat: wide (scale, regulatory licence, installed base). Operates the world's highest-throughput container port with deep-water berths hard to replicate.
Headquarters: Shanghai, China · Founded: 2003 · Employees: 13,046
Size Shanghai International Port (Group) (600018.SS) is a China Industrials company (Other Transportation) with a market value of $19.7B, the 114th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.68 on 6 Nov 2026.
Performance Over six months the shares gained 13.6%, against +3.4% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 8.9% over the last twelve months (peer median +6.6%); the operating margin is 23.3% (peer median 28.4%).
Valuation It trades at 8.6× forward earnings against a peer median of 17.1× (2nd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥42.5B | CN¥39.5B | CN¥38.0B | CN¥37.5B | CN¥37.2B |
| Revenue growth | — | +4% | +1% | +1% | — |
| Gross profit | CN¥18.4B | CN¥13.6B | CN¥12.8B | CN¥13.3B | CN¥13.4B |
| EBITDA | n/a | CN¥15.2B | CN¥13.6B | CN¥14.0B | CN¥12.7B |
| Net income | CN¥15.4B | CN¥13.6B | CN¥15.0B | CN¥13.2B | CN¥17.2B |
| Free cash flow | CN¥7.05B | CN¥8.36B | CN¥6.07B | CN¥9.93B | CN¥13.7B |
| Capital expenditure | CN¥8.57B | CN¥6.87B | CN¥6.25B | CN¥8.00B | CN¥5.75B |
| Total debt | CN¥59.2B | CN¥47.3B | CN¥49.3B | CN¥49.1B | CN¥42.5B |
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 |
|---|---|---|---|---|---|---|
| Shanghai International Port (Group) 600018.SS | $19.7B | +14% | +9% | 23% | 8.6× | -3.6% |
| COSCO SHIPPING Ports 1199.HK | $3.32B | +18% | +12% | 14% | 8.5× | 8.7% |
| Ningbo Zhoushan Port 601018.SS | $10.4B | -4% | +12% | 16% | n/a | -7.3% |
| China Merchants Port 001872.SZ | $9.20B | +14% | +8% | 32% | 12.9× | 2.1% |
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 | 600018.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.5% | +10.2% | 4th lowest of 21 |
| 6-month return | +13.6% | +3.4% | 3rd highest of 21 |
| Distance from 52-week high | -2.9% | -12.9% | 4th highest of 21 |
| Revenue growth (TTM) | +8.9% | +6.6% | 9th highest of 21 |
| Operating margin | 23.3% | 28.4% | 9th lowest of 21 |
| Forward P/E | 8.6× | 17.1× | 2nd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -3.6% | 6.5% | 3rd least demanding of 17 |
| Growth delivered (Del g) | +9.0% | +20.5% | 4th lowest of 17 |
| Hurdle (Req g minus delivered) | -12.6 pp | -15.9 pp | 7th most demanding of 17 |
| ROIC minus cost of capital | +0.3 pp | +0.1 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai International Port (Group) 600018.SS | China | $19.7B | +14% | +9% | 23% | 8.6× | -3.6% | +9.0% |
| Central Japan Railway 9022.T | Japan | $25.1B | +11% | +5% | 40% | 8.0× | -6.8% | +19.5% |
| Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR PAC | United States | $14.5B | +1% | +20% | 44% | 17.1× | 8.2% | +31.3% |
| Mtr 0066.HK | Hong Kong | $27.2B | +1% | -6% | 15% | 10.8× | n/a | n/a |
| Aeroports de Paris ADP.PA | France | $13.0B | +9% | +5% | 18% | 18.1× | 11.5% | +25.7% |
| Transurban TCL.AX | Australia | $31.6B | +1% | 0% | 30% | 84.3× | 27.8% | +5.9% |
| GMR Airports GMRAIRPORT.NS | India | $11.1B | -2% | +29% | 27% | 296.2× | n/a | n/a |
| China Merchants Expressway Network & Technology 001965.SZ | China | $10.6B | +10% | +26% | 15% | 14.6× | 6.7% | +13.7% |
| Jiangsu Expressway 600377.SS | China | $9.75B | +13% | +3% | 25% | 14.5× | n/a | n/a |
| Shanghai International Airport 600009.SS | China | $9.22B | -9% | +7% | 19% | 23.7× | -2.6% | +25.4% |
| China Merchants Port 001872.SZ | China | $9.20B | +14% | +8% | 32% | 12.9× | 2.1% | +6.2% |
| StandardAero SARO | United States | $9.14B | +10% | +13% | 10% | 16.4× | 10.9% | +13.5% |
| Qingdao Port International 601298.SS | China | $8.98B | +10% | +4% | 31% | 12.0× | -12.0% | +7.2% |
| Adani Ports & Special Economic Zone ADANIPORTS.NS | India | $47.2B | +12% | +23% | 44% | 29.4× | 34.5% | +25.3% |
| Aena SME AENA.MC | Spain | $47.6B | +21% | +11% | 46% | 18.1× | 7.0% | +23.6% |
| Shandong Hi-speed 600350.SS | China | $8.06B | +4% | -4% | 20% | 18.0× | 4.7% | +13.0% |
| Grupo Aeroportuario del Sureste SAB de CV Sponsored ADR ASR | United States | $7.95B | -15% | +26% | 41% | 12.2× | -2.3% | +27.0% |
| Flughafen Zurich FHZN.SW | Switzerland | $7.94B | -3% | +4% | 35% | 20.3× | 0.3% | +16.9% |
| Fraport FRA.DE | Germany | $7.09B | +1% | +3% | 19% | 21.2× | 6.3% | +21.5% |
| Hankyu Hanshin 9042.T | Japan | $7.03B | +3% | +6% | 10% | 13.2× | n/a | n/a |
| Kobenhavns Lufthavne A/S KBHL.CO | Denmark | $6.60B | -6% | +9% | 34% | n/a | 6.7% | +28.5% |