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One of China's two largest dairy companies, making milk, yogurt, milk powder and ice cream under the Yili brand.
One of China's two largest dairy companies, making milk, yogurt, milk powder and ice cream under the Yili brand.
Sells through supermarkets, distributors and online, with shelf-stable liquid milk, which keeps without refrigeration, the largest line and yogurt and milk powder behind. It buys most raw milk from farms, so the price of milk is its main input cost. Its home region, Inner Mongolia, is the center of its supply base.
In one line: China's Dean Foods/Danone (dairy).
Moat: narrow (brand, scale, distribution). Leading national brand with wide cold-chain distribution, competing closely with Mengniu.
Headquarters: Hohhot, China · Founded: 1993 · Employees: 62,666
Size Inner Mongolia Yili Industrial (600887.SS) is a China Consumer Staples company (Agricultural Commodities/Milling) with a market value of $29.3B, the 62nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥31.45 on 6 Nov 2026.
Performance Over six months the shares gained 14.5%, against -10.5% for the median peer and -16.4% for the China market (cap-weighted) — highest of 9 in its peer set.
Growth Revenue grew 1.6% over the last twelve months (peer median +3.7%); the operating margin is 8.8% (peer median 2.8%).
Valuation It trades at 19.2× forward earnings against a peer median of 12.0× (3rd most expensive of 6).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.1 points above its cost of capital (5.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥119B | CN¥116B | CN¥115B | CN¥126B | CN¥122B |
| Revenue growth | — | 0% | -8% | +3% | — |
| Gross profit | CN¥44.4B | CN¥38.7B | CN¥37.9B | CN¥39.8B | CN¥38.3B |
| EBITDA | n/a | CN¥16.3B | CN¥14.3B | CN¥15.1B | CN¥13.6B |
| Net income | CN¥9.94B | CN¥11.6B | CN¥8.45B | CN¥10.4B | CN¥9.43B |
| Free cash flow | CN¥19.4B | CN¥12.4B | CN¥17.9B | CN¥11.5B | CN¥6.84B |
| Capital expenditure | CN¥2.93B | CN¥3.04B | CN¥3.98B | CN¥6.96B | CN¥6.65B |
| Total debt | CN¥68.6B | CN¥61.5B | CN¥61.5B | CN¥59.1B | CN¥42.6B |
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 |
|---|---|---|---|---|---|---|
| Inner Mongolia Yili Industrial 600887.SS | $29.3B | +15% | +2% | 9% | 19.2× | -0.1% |
| Mengniu Dairy 2319.HK | $10.5B | +28% | +3% | 5% | 14.7× | 6.7% |
| Bright Dairy & Food 600597.SS | $1.43B | -6% | -3% | 0% | 30.6× | 18.8% |
| Danone BN.PA | $48.3B | +8% | 0% | 15% | 17.0× | -0.8% |
| Nestle NESN.SW | $266B | +11% | -2% | 16% | 19.0× | 1.3% |
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 | 600887.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.1% | +4.4% | 2nd highest of 9 |
| 6-month return | +14.5% | -10.5% | highest of 9 |
| Distance from 52-week high | -0.6% | -22.3% | highest of 9 |
| Revenue growth (TTM) | +1.6% | +3.7% | 5th highest of 9 |
| Operating margin | 8.8% | 2.8% | 2nd highest of 9 |
| Forward P/E | 19.2× | 12.0× | 3rd most expensive of 6 |
| Growth the price implies (Req g, 7 yrs) | -0.1% | 3.5% | 2nd least demanding of 4 |
| Growth delivered (Del g) | +3.7% | +16.3% | lowest of 4 |
| Hurdle (Req g minus delivered) | -3.7 pp | -12.8 pp | 2nd most demanding of 4 |
| ROIC minus cost of capital | +4.1 pp | -0.9 pp | 2nd highest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Inner Mongolia Yili Industrial 600887.SS | China | $29.3B | +15% | +2% | 9% | 19.2× | -0.1% | +3.7% |
| Archer Daniels Midland ADM | United States | $33.3B | -9% | +1% | 3% | 12.0× | 8.0% | +4.5% |
| Muyuan Foods 2714.HK | Hong Kong | $33.4B | -12% | -14% | -4% | n/a | n/a | n/a |
| Bunge Global BG | United States | $19.0B | -20% | +55% | 4% | 9.2× | n/a | n/a |
| Wen's Foodstuff 300498.SZ | China | $16.7B | +2% | -5% | -4% | n/a | n/a | n/a |
| Wilmar International F34.SI | Singapore | $14.5B | -19% | +6% | 3% | 10.2× | n/a | n/a |
| Guangdong Haid 002311.SZ | China | $12.1B | -1% | +8% | 3% | 21.1× | -1.1% | +16.3% |
| SalMar SALM.OL | Norway | $8.35B | +5% | +14% | 19% | 22.2× | 3.5% | +16.3% |
| Tongwei 600438.SS | China | $8.27B | -29% | -12% | -15% | n/a | n/a | n/a |