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Employees: 2,439
Size Ningxia Building Materials (600449.SS) is a China Materials company (Construction Materials) with a market value of $818M, the 2703rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.41 on 6 Nov 2026.
Performance Over six months the shares fell 11.6%, against -11.9% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 36.3% over the last twelve months (peer median -3.1%); the operating margin is 0.3% (peer median 7.2%).
Valuation It trades at 19.0× forward earnings against a peer median of 15.4× (4th most expensive of 14).
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 0%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.9 points below its cost of capital (7.6% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.77B | CN¥5.16B | CN¥8.64B | CN¥10.3B | CN¥8.53B |
| Revenue growth | — | -40% | -16% | +21% | — |
| Gross profit | CN¥768M | CN¥633M | CN¥565M | CN¥591M | CN¥976M |
| EBITDA | n/a | CN¥616M | CN¥568M | CN¥621M | CN¥1.09B |
| Net income | CN¥84.0M | CN¥182M | CN¥241M | CN¥297M | CN¥529M |
| Free cash flow | CN¥485M | CN¥897M | CN¥503M | CN¥517M | CN¥198M |
| Capital expenditure | CN¥106M | CN¥138M | CN¥175M | CN¥304M | CN¥607M |
| Total debt | CN¥56.0M | CN¥304M | CN¥722M | CN¥996M | CN¥406M |
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.
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 | 600449.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.4% | -3.8% | 8th lowest of 21 |
| 6-month return | -11.6% | -11.9% | 11th highest of 21 |
| Distance from 52-week high | -26.4% | -30.2% | 10th highest of 21 |
| Revenue growth (TTM) | -36.3% | -3.1% | lowest of 20 |
| Operating margin | 0.3% | 7.2% | 7th lowest of 21 |
| Forward P/E | 19.0× | 15.4× | 4th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | -3.6% | 2.0% | 8th least demanding of 18 |
| Growth delivered (Del g) | +0.3% | +3.6% | 7th lowest of 18 |
| Hurdle (Req g minus delivered) | -3.9 pp | -0.5 pp | 8th least demanding of 18 |
| ROIC minus cost of capital | -3.9 pp | -2.5 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ningxia Building Materials 600449.SS | China | $818M | -12% | -36% | 0% | 19.0× | -3.6% | +0.3% |
| Yang Guang 000608.SZ | China | $814M | +60% | +68% | 4% | n/a | n/a | n/a |
| Sinostone (Guangdong) 001212.SZ | China | $814M | -52% | -21% | -18% | n/a | n/a | n/a |
| Xinjiang Qingsong Building Materials & Chemicals (Group) 600425.SS | China | $833M | -16% | -8% | 9% | 17.3× | 2.0% | +5.1% |
| NWPX Infrastructure NWPX | United States | $841M | -22% | +16% | 12% | 17.5× | 6.2% | +12.9% |
| Pan-United P52.SI | Singapore | $784M | -9% | +26% | 7% | 15.4× | -5.3% | +17.3% |
| Guangdong Dongpeng 003012.SZ | China | $779M | -24% | -15% | 0% | 29.8× | -3.8% | -3.3% |
| Jilin Yatai (Group) 600881.SS | China | $776M | +3% | -15% | -21% | n/a | 5.0% | -20.1% |
| China Resources Building Materials Technology 1313.HK | Hong Kong | $873M | -31% | -12% | -3% | n/a | -8.1% | -10.6% |
| China West Construction 002302.SZ | China | $884M | -16% | -24% | -7% | n/a | 12.5% | -5.0% |
| Hanilcmt 300720.KS | South Korea | $905M | -4% | -10% | 11% | 11.9× | -3.2% | +7.9% |
| Maeda Kosen 7821.T | Japan | $944M | +21% | +11% | 17% | 14.8× | -4.7% | +10.6% |
| Sumitomo Osaka Cement 5232.T | Japan | $969M | +49% | +5% | 7% | 13.7× | 4.6% | -1.3% |
| Wagners WGN.AX | Australia | $650M | -4% | +17% | 12% | 20.7× | 10.2% | +9.5% |
| Suncrete RMIX | United States | $646M | -47% | n/a | 1% | 61.2× | n/a | n/a |
| Goldsun Building Materials 2504.TW | Taiwan | $1.06B | -14% | -3% | 22% | 8.4× | -7.1% | +3.6% |
| Nichiha 7943.T | Japan | $599M | -10% | -3% | 7% | 13.0× | -3.7% | +3.5% |
| Mitani Sekisan 5273.T | Japan | $1.12B | +33% | +9% | 18% | n/a | -8.4% | +7.7% |
| Loma Negra Compania Industrial Argentina SA Sponsored ADR LOMA | United States | $1.12B | -21% | -5% | 9% | 16.6× | 13.6% | +2.9% |
| Sinosteel Luonai Materials Technology 688119.SS | China | $597M | -32% | -2% | -13% | n/a | 3.7% | -0.3% |
| Marshalls MSLH.L | United Kingdom | $597M | +40% | 0% | 8% | 11.8× | 8.2% | +6.1% |