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Integrated local utility in Shihezi, Xinjiang, supplying electricity, heat, water and gas as a regional monopoly.
Integrated local utility in Shihezi, Xinjiang, supplying electricity, heat, water and gas as a regional monopoly.
Earns from tariffs for power, heat, water and gas supplied inside Shihezi, a city built up by the Xinjiang Production and Construction Corps, so volumes follow local population and industry while prices are set by the government rather than by the market.
Moat: narrow (regulatory licence, installed base). Sole regional utility franchise for power, heat, water and gas in its service area.
Headquarters: Shihezi, Xinjiang, China · Employees: 3,097
Size Xinjiang Tianfu Energy (600509.SS) is a China Utilities company (Electric Utilities) with a market value of $1.40B, the 1740th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.77 on 6 Nov 2026.
Performance Over six months the shares fell 16.4%, against -13.1% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 8.8% over the last twelve months (peer median +3.3%); the operating margin is 6.9% (peer median 12.0%).
Valuation It trades at 14.7× forward earnings against a peer median of 8.9× (6th most expensive of 15).
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 +12%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.9 points above its cost of capital (5.0% WACC).
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.17B | CN¥8.35B | CN¥9.24B | CN¥9.47B | CN¥8.13B |
| Revenue growth | — | -10% | -2% | +16% | — |
| Gross profit | CN¥3.13B | CN¥1.62B | CN¥1.41B | CN¥1.42B | CN¥603M |
| EBITDA | n/a | CN¥2.16B | CN¥1.98B | CN¥2.06B | CN¥1.42B |
| Net income | CN¥237M | CN¥230M | CN¥215M | CN¥431M | -CN¥199M |
| Free cash flow | CN¥1.95B | CN¥496M | -CN¥2.85B | CN¥327M | CN¥420M |
| Capital expenditure | CN¥886M | CN¥1.19B | CN¥4.73B | CN¥1.90B | CN¥501M |
| Total debt | CN¥11.9B | CN¥14.7B | CN¥16.3B | CN¥10.8B | CN¥11.4B |
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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 | 600509.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.8% | -3.8% | 7th lowest of 21 |
| 6-month return | -16.4% | -13.1% | 10th lowest of 20 |
| Distance from 52-week high | -40.4% | -28.8% | 6th lowest of 21 |
| Revenue growth (TTM) | +8.8% | +3.3% | 9th highest of 21 |
| Operating margin | 6.9% | 12.0% | 8th lowest of 21 |
| Forward P/E | 14.7× | 8.9× | 6th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | -4.3% | -0.9% | 7th least demanding of 17 |
| Growth delivered (Del g) | +11.5% | +7.7% | 4th highest of 17 |
| Hurdle (Req g minus delivered) | -15.8 pp | -12.2 pp | 6th least demanding of 17 |
| ROIC minus cost of capital | +0.9 pp | +0.6 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xinjiang Tianfu Energy 600509.SS | China | $1.40B | -16% | +9% | 7% | 14.7× | -4.3% | +11.5% |
| Jinneng Holding Shanxi Electric Power 000767.SZ | China | $1.40B | -20% | -6% | 6% | n/a | 2.5% | +5.6% |
| Hokkaido Electric Power Company,Incorporated 9509.T | Japan | $1.38B | +5% | -1% | 4% | 7.3× | n/a | n/a |
| Hokuriku Electric Power 9505.T | Japan | $1.34B | +16% | -5% | 7% | 7.6× | 8.4% | +3.7% |
| Hawaiian Electric Industries HE | United States | $1.45B | -43% | +2% | 11% | 5.2× | n/a | n/a |
| Vedanta Power VEDPOWER.NS | India | $1.46B | n/a | +5% | -13% | n/a | n/a | n/a |
| Electricite de Strasbourg ELEC.PA | France | $1.29B | -34% | -10% | 8% | n/a | -10.7% | +11.1% |
| Jiangxi Ganneng 000899.SZ | China | $1.26B | -31% | +24% | 13% | 7.4× | -4.4% | +22.6% |
| Harbin Hatou Investment 600864.SS | China | $1.56B | -18% | 0% | -17% | n/a | -17.2% | -3.8% |
| Jiangsu New Energy Development 603693.SS | China | $1.56B | -21% | -3% | 35% | 20.9× | 0.7% | +6.1% |
| Nava NAVA.NS | India | $1.59B | -26% | +9% | 29% | n/a | 19.8% | +11.0% |
| Dynagreen Environmental Protection 1330.HK | Hong Kong | $1.59B | +8% | +17% | 31% | 10.3× | -2.7% | +8.4% |
| Guizhou Qianyuan Power 002039.SZ | China | $1.19B | -8% | +14% | 45% | 19.5× | -10.1% | +4.4% |
| Central Puerto SA Sponsored ADR CEPU | United States | $1.64B | -29% | +51% | 29% | 5.0× | -5.0% | +10.3% |
| Hunan Energy Group Development 000722.SZ | China | $1.19B | -13% | +126% | 48% | n/a | 0.8% | +2.4% |
| naturenergie NEAG.SW | Switzerland | $1.17B | -12% | -16% | 13% | 12.1× | -15.5% | +5.6% |
| CGN New Energy 1811.HK | Hong Kong | $1.16B | -23% | -12% | 26% | 6.2× | 4.2% | +8.2% |
| Kasumigaseki Capital 3498.T | Japan | $1.16B | +15% | +70% | 17% | 7.6× | n/a | n/a |
| Romande Energie REHN.SW | Switzerland | $1.68B | -1% | +2% | 8% | 15.1× | 7.4% | +7.2% |
| SG Mart SGMART.NS | India | $1.15B | +55% | +9% | 3% | 50.0× | 30.1% | +298.2% |
| Chongqing Three Gorges Water Conservancy and Electric Power 600116.SS | China | $1.73B | -8% | +4% | 6% | 18.8× | -2.5% | +14.1% |