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Operator of China's iconic Wangfujing department-store chain, also licensed for duty-free retail operations.
Operator of China's iconic Wangfujing department-store chain, also licensed for duty-free retail operations.
In one line: A Chinese Macy's expanding into duty-free.
Moat: narrow (brand, regulatory licence). Long-established national retail brand plus a scarce domestic duty-free operating licence.
Headquarters: Beijing, China · Employees: 9,871
Size Wangfujing (600859.SS) is a China Consumer Discretionary company (Department Stores) with a market value of $1.65B, the 1502nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.78 on 6 Nov 2026.
Performance Over six months the shares fell 20.9%, against -11.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 9.7% over the last twelve months (peer median -1.9%); the operating margin is 5.4% (peer median 5.2%).
Valuation It trades at 244.5× forward earnings against a peer median of 14.7× (most expensive of 16).
Price implies For today's price to make sense, revenue must grow about -14% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.5 points above its cost of capital (5.5% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.55B | CN¥10.0B | CN¥11.2B | CN¥11.9B | CN¥10.5B |
| Revenue growth | — | -11% | -6% | +13% | — |
| Gross profit | CN¥5.03B | CN¥3.75B | CN¥4.35B | CN¥4.69B | CN¥3.78B |
| EBITDA | n/a | CN¥2.60B | CN¥2.88B | CN¥3.31B | CN¥2.44B |
| Net income | -CN¥129M | -CN¥39.9M | CN¥269M | CN¥709M | CN¥195M |
| Free cash flow | CN¥2.03B | CN¥1.45B | CN¥1.81B | CN¥2.70B | CN¥931M |
| Capital expenditure | CN¥445M | CN¥533M | CN¥802M | CN¥922M | CN¥733M |
| Total debt | CN¥10.2B | CN¥10.1B | CN¥11.2B | CN¥10.3B | CN¥9.17B |
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 |
|---|---|---|---|---|---|---|
| Wangfujing 600859.SS | $1.65B | -21% | -10% | 5% | 244.5× | -13.6% |
| China Tourism Group Duty Free 601888.SS | $15.9B | -17% | -1% | 10% | 24.7× | 8.6% |
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 | 600859.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.1% | -2.5% | 8th highest of 21 |
| 6-month return | -20.9% | -11.5% | 8th lowest of 21 |
| Distance from 52-week high | -42.4% | -34.5% | 9th lowest of 21 |
| Revenue growth (TTM) | -9.7% | -1.9% | 5th lowest of 21 |
| Operating margin | 5.4% | 5.2% | 11th highest of 21 |
| Forward P/E | 244.5× | 14.7× | most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | -13.6% | 0.3% | 4th least demanding of 19 |
| Growth delivered (Del g) | -2.4% | -0.5% | 6th lowest of 19 |
| Hurdle (Req g minus delivered) | -11.2 pp | -1.4 pp | 5th least demanding of 19 |
| ROIC minus cost of capital | +1.5 pp | -1.0 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wangfujing 600859.SS | China | $1.65B | -21% | -10% | 5% | 244.5× | -13.6% | -2.4% |
| Shinsegae 004170.KS | South Korea | $1.59B | -38% | +7% | 9% | 5.8× | -2.2% | +7.8% |
| Lotte Shopping 023530.KS | South Korea | $1.87B | -33% | +1% | 5% | 7.9× | 5.8% | -3.2% |
| Anhui Anfu Battery Technology 603031.SS | China | $1.43B | -39% | +4% | 23% | 23.0× | -0.2% | +21.9% |
| Seria 2782.T | Japan | $1.91B | +18% | +13% | 9% | 15.2× | -2.1% | +5.0% |
| Easyhome New Retail 000785.SZ | China | $1.97B | -18% | -23% | 3% | 19.3× | 1.0% | +4.4% |
| Beijing United Information Technology 603613.SS | China | $2.05B | -30% | -4% | 5% | n/a | n/a | n/a |
| H2O Retailing 8242.T | Japan | $2.10B | +17% | 0% | 5% | 12.3× | -9.7% | -1.6% |
| Hyundaideptst 069960.KS | South Korea | $1.29B | -23% | -3% | 9% | 7.0× | -17.1% | +13.2% |
| Izumi 8273.T | Japan | $1.28B | -1% | +1% | 5% | 11.2× | n/a | n/a |
| Hunan Friendship & Apollo Commercial 002277.SZ | China | $1.23B | -5% | -20% | -60% | n/a | 21.6% | -15.5% |
| Maoye Commercial 600828.SS | China | $1.13B | -13% | -22% | -3% | n/a | 12.9% | -8.4% |
| Fujian Dongbai (Group) 600693.SS | China | $1.11B | -23% | -1% | 32% | 62.6× | 4.1% | +0.9% |
| Ceconomy CEC.DE | Germany | $2.47B | +9% | +4% | 1% | 7.8× | 2.9% | +2.1% |
| Nanjing Xinjiekou Department Store 600682.SS | China | $1.07B | -22% | -11% | -16% | n/a | 5.7% | +2.4% |
| Kohl's KSS | United States | $2.61B | +59% | -3% | 4% | 15.3× | 0.0% | -0.5% |
| Far Eastern Department Stores 2903.TW | Taiwan | $910M | -5% | -1% | 13% | n/a | 0.5% | -1.8% |
| Matsuya 8237.T | Japan | $869M | +54% | -1% | 6% | 149.2× | 35.3% | -2.8% |
| Dashang 600694.SS | China | $827M | -10% | -4% | 12% | 12.2× | -18.9% | -5.1% |
| Rainbow Digital Commercial 002419.SZ | China | $793M | -15% | -4% | 0% | 52.1× | -5.8% | -0.4% |
| Hangzhou Jiebai 600814.SS | China | $776M | -9% | -3% | 25% | 14.7× | -21.8% | -1.6% |