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City-gas distributor piping natural gas to homes and industry across many Chinese cities, part of ENN Group.
City-gas distributor piping natural gas to homes and industry across many Chinese cities, part of ENN Group.
In one line: A Chinese regional gas utility, like a piece of National Grid's US gas business.
Moat: narrow (regulatory licence, installed base). Exclusive municipal gas-distribution concessions and existing pipeline networks are hard to replicate.
Headquarters: Langfang, Hebei, China · Founded: 1992 · Employees: 37,142
Size ENN Natural Gas (600803.SS) is a China Utilities company (Gas Distributors) with a market value of $9.83B, the 254th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥21.31 on 6 Nov 2026.
Performance Over six months the shares gained 5.2%, against +1.4% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 1.4% over the last twelve months (peer median +2.0%).
Valuation It trades at 11.8× forward earnings against a peer median of 16.6× (5th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -14 pp: the price already allows for a slowdown.
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥131B | CN¥131B | CN¥136B | CN¥144B | CN¥154B |
| Revenue growth | — | -3% | -5% | -7% | — |
| Gross profit | n/a | CN¥17.1B | CN¥17.9B | CN¥18.9B | CN¥22.2B |
| EBITDA | n/a | CN¥15.7B | CN¥16.0B | CN¥17.0B | CN¥19.6B |
| Net income | CN¥4.13B | CN¥4.68B | CN¥4.49B | CN¥7.09B | CN¥5.84B |
| Free cash flow | CN¥8.88B | CN¥7.01B | CN¥7.16B | CN¥6.71B | CN¥7.99B |
| Capital expenditure | CN¥6.73B | CN¥8.24B | CN¥8.37B | CN¥9.26B | CN¥8.72B |
| Total debt | CN¥35.5B | CN¥34.9B | CN¥32.4B | CN¥34.8B | CN¥37.5B |
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 |
|---|---|---|---|---|---|---|
| ENN Natural Gas 600803.SS | $9.83B | +5% | -1% | n/a | 11.8× | -6.1% |
| China Gas 0384.HK | $3.52B | -31% | -7% | 8% | 9.9× | 3.8% |
| KunLun Energy 0135.HK | $8.35B | +1% | +6% | 5% | 9.5× | -13.0% |
| Beijing Enterprises 0392.HK | $4.93B | -3% | +5% | 4% | 6.3× | 7.7% |
| China Resources Gas 1193.HK | $4.77B | -13% | +1% | 6% | 10.7× | 1.8% |
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 | 600803.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.3% | +4.9% | 6th highest of 21 |
| 6-month return | +5.2% | +1.4% | 6th highest of 21 |
| Distance from 52-week high | -13.2% | -10.8% | 10th lowest of 21 |
| Revenue growth (TTM) | -1.4% | +2.0% | 6th lowest of 21 |
| Forward P/E | 11.8× | 16.6× | 5th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -6.1% | 5.6% | 2nd least demanding of 13 |
| Growth delivered (Del g) | +8.4% | +7.5% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | -14.5 pp | -1.6 pp | 2nd least demanding of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ENN Natural Gas 600803.SS | China | $9.83B | +5% | -1% | n/a | 11.8× | -6.1% | +8.4% |
| Canadian Utilities CU.TO | Canada | $10.1B | +9% | +1% | 16% | 18.9× | 20.1% | +2.7% |
| APA APA.AX | Australia | $10.4B | +7% | -6% | 38% | 49.3× | 12.5% | +3.1% |
| Italgas IG.MI | Italy | $10.4B | -12% | +9% | 49% | 12.3× | 2.4% | +11.3% |
| Centrica CNA.L | United Kingdom | $9.23B | -25% | 0% | 23% | 13.1× | n/a | n/a |
| KunLun Energy 0135.HK | Hong Kong | $8.35B | +1% | +6% | 5% | 9.5× | -13.0% | +11.4% |
| AltaGas ALA.TO | Canada | $11.8B | +4% | +18% | 9% | 22.5× | n/a | n/a |
| DCC Energy DCC.L | United Kingdom | $7.41B | +13% | -14% | 3% | 12.7× | 7.1% | +2.9% |
| Tokyo Gas 9531.T | Japan | $13.1B | -7% | +4% | 7% | 16.3× | -1.8% | +9.9% |
| Osaka Gas 9532.T | Japan | $13.3B | -2% | +1% | 7% | 14.6× | 4.0% | +8.3% |
| Enn Energy 2688.HK | Hong Kong | $7.02B | -17% | +6% | 7% | 7.6× | -3.4% | +8.6% |
| Southwest Gas SWX | United States | $6.62B | +2% | -57% | 29% | 18.9× | n/a | n/a |
| Black Hills BKH | United States | $6.47B | +13% | +3% | 24% | 18.2× | n/a | n/a |
| New Jersey Resources NJR | United States | $5.51B | -2% | +7% | 24% | 16.6× | n/a | n/a |
| HK & China Gas 0003.HK | Hong Kong | $17.6B | +3% | +2% | 14% | 21.6× | 8.7% | +5.8% |
| Spire SR | United States | $5.25B | +4% | +4% | 20% | 17.9× | n/a | n/a |
| Enagas ENG.MC | Spain | $5.22B | +7% | -2% | 21% | 19.4× | 15.0% | -2.2% |
| ONE Gas OGS | United States | $5.09B | -5% | -2% | 21% | 16.6× | n/a | n/a |
| Beijing Enterprises 0392.HK | Hong Kong | $4.93B | -3% | +5% | 4% | 6.3× | 7.7% | +6.7% |
| Brookfield Infrastructure BIPC.TO | Canada | $4.91B | +5% | +6% | 60% | 22.0× | n/a | n/a |
| China Resources Gas 1193.HK | Hong Kong | $4.77B | -13% | +1% | 6% | 10.7× | 1.8% | +11.8% |