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Operator of Xiamen Gaoqi International Airport in Fujian province.
Operator of Xiamen Gaoqi International Airport in Fujian province.
Earns from airlines through charges on landing, parking and passengers, partly regulated by the aviation authority, and from shops, advertising and ground services at the terminal. Passenger traffic drives both, and everything depends on a single airport serving Xiamen.
Moat: narrow (regulatory licence, scale). Licensed sole operator of Fujian's principal international airport.
Headquarters: Xiamen, China · Employees: 3,601
Size Xiamen International Airport (600897.SS) is a China Industrials company (Other Transportation) with a market value of $892M, the 2537th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.26 on 6 Nov 2026.
Performance Over six months the shares fell 11.5%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 33.0% over the last twelve months (peer median +4.3%); the operating margin is 27.5% (peer median 10.6%).
Valuation It trades at 12.1× forward earnings against a peer median of 15.1× (3rd cheapest of 9).
Price implies For today's price to make sense, revenue must grow about -17% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -28 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 21.6 points above its cost of capital (6.2% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.64B | CN¥2.06B | CN¥1.87B | CN¥1.69B | CN¥1.00B |
| Revenue growth | — | +10% | +11% | +68% | — |
| Gross profit | CN¥1.14B | CN¥806M | CN¥595M | CN¥537M | CN¥4.05M |
| EBITDA | n/a | CN¥920M | CN¥650M | CN¥685M | CN¥185M |
| Net income | CN¥535M | CN¥518M | CN¥431M | CN¥354M | CN¥28.1M |
| Free cash flow | CN¥470M | CN¥760M | CN¥708M | CN¥653M | CN¥118M |
| Capital expenditure | CN¥71.5M | CN¥74.8M | CN¥70.9M | CN¥52.4M | CN¥86.5M |
| Total debt | CN¥267M | CN¥146M | CN¥193M | CN¥256M | CN¥173M |
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 |
|---|---|---|---|---|---|---|
| Xiamen International Airport 600897.SS | $892M | -12% | +33% | 28% | 12.1× | -16.5% |
| Shenzhen Airport 000089.SZ | $2.08B | -5% | +5% | 17% | 14.2× | -6.4% |
| Guangzhou Baiyun International Airport 600004.SS | $3.18B | -6% | +9% | 11% | 25.2× | -12.5% |
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 | 600897.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.0% | -0.4% | 10th lowest of 21 |
| 6-month return | -11.5% | -10.8% | 11th highest of 21 |
| Distance from 52-week high | -36.5% | -23.9% | 5th lowest of 21 |
| Revenue growth (TTM) | +33.0% | +4.3% | highest of 21 |
| Operating margin | 27.5% | 10.6% | 5th highest of 21 |
| Forward P/E | 12.1× | 15.1× | 3rd cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | -16.5% | 0.2% | 2nd least demanding of 18 |
| Growth delivered (Del g) | +11.4% | +7.4% | 3rd highest of 18 |
| Hurdle (Req g minus delivered) | -28.0 pp | -7.3 pp | 2nd least demanding of 18 |
| ROIC minus cost of capital | +21.6 pp | -1.3 pp | highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xiamen International Airport 600897.SS | China | $892M | -12% | +33% | 28% | 12.1× | -16.5% | +11.4% |
| Beijing Capital International Airport 0694.HK | Hong Kong | $914M | -21% | +6% | 0% | 183.1× | 40.5% | +8.7% |
| SBS Transit S61.SI | Singapore | $866M | -2% | +2% | 4% | 19.0× | -10.6% | +4.3% |
| Jiangsu Tongxingbao Intelligent Transportation Tech 301339.SZ | China | $948M | -17% | +9% | 20% | 13.8× | -4.9% | +17.9% |
| Sichuan Haite High-Tech 002023.SZ | China | $948M | -31% | +14% | -28% | n/a | 31.4% | +10.4% |
| Jilin Expressway 601518.SS | China | $822M | -1% | -13% | 48% | n/a | -20.5% | +10.0% |
| Xiandai Investment 000900.SZ | China | $822M | -14% | -6% | 20% | n/a | 2.8% | -14.7% |
| Ningxia Western Venture Industrial 000557.SZ | China | $807M | -21% | +7% | 9% | n/a | 0.2% | +8.3% |
| Guangxi Wuzhou Communications 600368.SS | China | $1.01B | +8% | -40% | 48% | n/a | n/a | n/a |
| CTS International Logistics 603128.SS | China | $1.02B | -5% | +15% | 3% | 15.0× | -5.1% | +5.0% |
| Dazhong Transportation (Group) 600611.SS | China | $1.02B | -12% | -12% | -9% | n/a | 5.8% | -3.3% |
| Jiangsu Lianyungang Port 601008.SS | China | $765M | -13% | +5% | 15% | n/a | 1.9% | +9.7% |
| AZ-COM Maruwa 9090.T | Japan | $760M | -1% | +9% | 5% | 15.2× | n/a | n/a |
| Heilongjiang Transport Development 601188.SS | China | $746M | +13% | -4% | 27% | n/a | 0.4% | +7.0% |
| Shanxi Hi-speed 000755.SZ | China | $1.07B | -3% | +3% | 47% | n/a | -7.2% | +8.4% |
| StorageVault Canada SVI.TO | Canada | $1.09B | -4% | +9% | 23% | n/a | 21.9% | +16.6% |
| Yuexiu Transport Infrastructure 1052.HK | Hong Kong | $699M | -19% | +9% | 36% | 6.2× | 0.1% | +7.4% |
| Xizang Tianlu 600326.SS | China | $1.24B | -35% | -8% | 0% | 26.3× | 24.9% | -13.0% |
| Zhuhai Port 000507.SZ | China | $638M | -9% | 0% | 12% | n/a | -2.0% | +4.5% |
| Transport International 0062.HK | Hong Kong | $592M | -16% | +1% | 6% | n/a | -8.6% | +6.4% |
| Nishi-Nippon Railroad 9031.T | Japan | $1.37B | 0% | +10% | 7% | 9.0× | n/a | n/a |