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World's largest automotive-glass maker, supplying windshields and windows to carmakers globally, including its own US plant.
World's largest automotive-glass maker, supplying windshields and windows to carmakers globally, including its own US plant.
Sells windshields and windows to carmakers on supply contracts tied to specific vehicle models, so it is paid per piece shipped in step with auto production, with a smaller aftermarket line for replacement glass. It makes its own float glass, the raw sheet, and runs plants in the US, Europe and Asia, including a former General Motors factory in Ohio. Founder Cho Tak Wong still controls it.
Moat: wide (scale, cost advantage, customer qualification). Largest global scale in auto glass with deep OEM qualification and integrated float-glass supply.
Headquarters: Fuqing, Fujian, China · Founded: 1987 · Employees: 42,541
Size Fuyao Glass Industry (600660.SS) is a China Consumer Discretionary company (Home Furnishings) with a market value of $21.0B, the 102nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥55.92 on 6 Nov 2026.
Performance Over six months the shares fell 5.0%, against -3.7% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 5 in its peer set.
Growth Revenue grew 5.3% over the last twelve months (peer median +24.6%); the operating margin is 22.1% (peer median 15.8%).
Valuation It trades at 16.2× forward earnings against a peer median of 18.2× (2nd cheapest of 5).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -21 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 19.0 points above its cost of capital (5.7% WACC).
Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥46.6B | CN¥45.6B | CN¥39.1B | CN¥33.0B | CN¥28.0B |
| Revenue growth | — | +17% | +18% | +18% | — |
| Gross profit | CN¥19.9B | CN¥16.4B | CN¥13.6B | CN¥11.2B | CN¥9.09B |
| EBITDA | n/a | CN¥13.3B | CN¥11.0B | CN¥8.62B | CN¥6.92B |
| Net income | CN¥8.25B | CN¥9.31B | CN¥7.50B | CN¥5.63B | CN¥4.76B |
| Free cash flow | CN¥4.92B | CN¥5.89B | CN¥3.50B | CN¥3.35B | CN¥2.77B |
| Capital expenditure | CN¥5.51B | CN¥6.16B | CN¥5.48B | CN¥4.47B | CN¥3.13B |
| Total debt | CN¥23.7B | CN¥21.7B | CN¥18.1B | CN¥17.4B | CN¥15.1B |
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 |
|---|---|---|---|---|---|---|
| Fuyao Glass Industry 600660.SS | $21.0B | -5% | +5% | 22% | 16.2× | -3.2% |
| Compagnie de Saint-Gobain SGO.PA | $40.7B | -3% | -2% | 10% | 12.1× | 5.1% |
| Agc 5201.T | $6.33B | -15% | +6% | 6% | 12.6× | 4.8% |
| Nippon Sheet Glass 5202.T | n/a | +4% | n/a | n/a | n/a | n/a |
| Xinyi Glass 0868.HK | $4.79B | -19% | -12% | 13% | 11.4× | 6.8% |
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 | 600660.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.3% | -29.1% | highest of 5 |
| 6-month return | -5.0% | -3.7% | 3rd highest of 5 |
| Distance from 52-week high | -19.0% | -46.5% | highest of 5 |
| Revenue growth (TTM) | +5.3% | +24.6% | 2nd lowest of 5 |
| Operating margin | 22.1% | 15.8% | highest of 5 |
| Forward P/E | 16.2× | 18.2× | 2nd cheapest of 5 |
| Growth the price implies (Req g, 7 yrs) | -3.2% | n/a | — |
| Growth delivered (Del g) | +18.2% | n/a | — |
| Hurdle (Req g minus delivered) | -21.5 pp | n/a | — |
| ROIC minus cost of capital | +19.0 pp | +2.1 pp | highest of 5 |
| Net debt / EBITDA | 0.2× | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fuyao Glass Industry 600660.SS | China | $21.0B | -5% | +5% | 22% | 16.2× | -3.2% | +18.2% |
| Lens Technology 6613.HK | Hong Kong | $20.7B | -29% | -7% | 5% | 18.1× | -0.7% | +14.2% |
| Guangdong Songfa Ceramics 603268.SS | China | $22.8B | 0% | +302% | 21% | 16.1× | n/a | n/a |
| Somnigroup International SGI | United States | $14.8B | -7% | +27% | 14% | 18.3× | 15.0% | +15.3% |
| Chongqing Polycomp International 301526.SZ | China | $11.0B | +21% | +22% | 18% | 36.8× | n/a | n/a |