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Shanxi coking company producing coke and coal-chemical byproducts for the steel industry.
Shanxi coking company producing coke and coal-chemical byproducts for the steel industry.
Earns the spread between the price of coke and the coking coal it buys, with by-products such as coal tar and methanol adding a second source of revenue, so profit is squeezed when coal prices rise faster than coke prices. Steel-mill output decides how much it sells.
Moat: none (scale). Coking is a commodity, cyclical business tied to steel-industry demand.
Headquarters: Shanxi, China · Employees: 5,585
Size Shanxi Coking (600740.SS) is a China Energy company (Coal) with a market value of $1.34B, the 1801st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.50 on 6 Nov 2026.
Performance Over six months the shares fell 18.6%, against -9.4% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 0.4% over the last twelve months (peer median +4.2%); the operating margin is -14.9% (peer median 2.1%).
Valuation It trades at 14.6× forward earnings against a peer median of 15.2× (6th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.2 points below its cost of capital (5.0% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.64B | CN¥6.14B | CN¥7.48B | CN¥8.72B | CN¥12.0B |
| Revenue growth | — | -18% | -14% | -28% | — |
| Gross profit | -CN¥245M | -CN¥706M | -CN¥1.30B | -CN¥1.01B | -CN¥242M |
| EBITDA | n/a | -CN¥711M | -CN¥1.40B | -CN¥1.10B | -CN¥313M |
| Net income | CN¥204M | CN¥83.1M | CN¥263M | CN¥1.28B | CN¥2.58B |
| Free cash flow | CN¥378M | -CN¥425M | -CN¥1.76B | -CN¥1.68B | -CN¥655M |
| Capital expenditure | CN¥6.31M | CN¥74.5M | CN¥191M | CN¥285M | CN¥275M |
| Total debt | CN¥9.27B | CN¥9.52B | CN¥10.5B | CN¥7.92B | CN¥7.56B |
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 |
|---|---|---|---|---|---|---|
| Shanxi Coking 600740.SS | $1.34B | -19% | 0% | -15% | 14.6× | 13.3% |
| China Shenhua Energy 601088.SS | $151B | +1% | -13% | 24% | 16.9× | n/a |
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 | 600740.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.7% | -14.7% | 6th highest of 21 |
| 6-month return | -18.6% | -9.4% | 6th lowest of 21 |
| Distance from 52-week high | -35.9% | -29.4% | 8th lowest of 21 |
| Revenue growth (TTM) | +0.4% | +4.2% | 9th lowest of 21 |
| Operating margin | -14.9% | 2.1% | 3rd lowest of 21 |
| Forward P/E | 14.6× | 15.2× | 6th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 13.3% | -8.1% | 2nd most demanding of 12 |
| Growth delivered (Del g) | -2.7% | +9.4% | 2nd lowest of 12 |
| Hurdle (Req g minus delivered) | +16.0 pp | -17.5 pp | 2nd most demanding of 12 |
| ROIC minus cost of capital | -7.2 pp | -0.6 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanxi Coking 600740.SS | China | $1.34B | -19% | 0% | -15% | 14.6× | 13.3% | -2.7% |
| Shanxi Lanhua Sci-Tech Venture 600123.SS | China | $1.34B | -14% | +8% | 1% | 31.1× | n/a | n/a |
| Macmahon MAH.AX | Australia | $1.35B | +6% | +8% | 7% | 15.1× | 4.3% | +14.1% |
| Shanghai Datun Energy Resources 600508.SS | China | $1.32B | +14% | +15% | 4% | 12.0× | -9.3% | +0.1% |
| Anhui Hengyuan Coal Industry and Electricity Power 600971.SS | China | $1.30B | -13% | +34% | 3% | 22.2× | -10.2% | +1.6% |
| Kailuan Energy Chemical 600997.SS | China | $1.28B | -9% | +5% | -2% | 26.9× | n/a | n/a |
| Stanmore Resources SMR.AX | Australia | $1.54B | +5% | -6% | 0% | 21.5× | -9.9% | +60.7% |
| Natural Resource Partners L.P NRP | United States | $1.56B | +6% | -10% | 63% | n/a | -8.1% | +9.4% |
| Guizhou Panjiang Refined Coal 600395.SS | China | $1.60B | -10% | +6% | 15% | 21.9× | n/a | n/a |
| Shougang Fushan Resources 0639.HK | Hong Kong | $1.66B | -4% | +33% | 20% | 10.4× | -17.3% | +4.8% |
| Kinetic Development 1277.HK | Hong Kong | $1.84B | -15% | -3% | 31% | 6.2× | -6.4% | +11.5% |
| Alpha Metallurgical Resources AMR | United States | $1.87B | -20% | -13% | -2% | 22.5× | n/a | n/a |
| Shaanxi Heimao Coking 601015.SS | China | $965M | -22% | -13% | -11% | n/a | n/a | n/a |
| Peabody Energy BTU | United States | $1.95B | -32% | +3% | -4% | 6.3× | n/a | n/a |
| Mongolian Mining 0975.HK | Hong Kong | $899M | -27% | +26% | 13% | n/a | -5.8% | +14.7% |
| Henan Dayou Energy 600403.SS | China | $2.04B | -2% | +6% | -29% | n/a | n/a | n/a |
| Shanxi Meijin Energy 000723.SZ | China | $2.15B | -27% | -2% | -8% | n/a | n/a | n/a |
| Jastrzebska Spolka Weglowa JSW.WA | Poland | $788M | -6% | -8% | -28% | n/a | n/a | n/a |
| Zhengzhou Coal Industry & Electric Power 600121.SS | China | $786M | +1% | -5% | -8% | n/a | 36.0% | +5.7% |
| Beijing Haohua Energy Resource 601101.SS | China | $2.39B | -5% | +3% | 24% | 9.3× | -9.6% | +14.4% |
| Jizhong Energy Resources 000937.SZ | China | $2.48B | -17% | +7% | 8% | 15.2× | -4.2% | -6.0% |