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Chongqing's municipal water supply and wastewater-treatment utility.
Chongqing's municipal water supply and wastewater-treatment utility.
Charges residents and businesses for water supply and wastewater treatment at prices set with the local government, so income follows volumes billed and tariff decisions rather than competition. The Chongqing city government controls it.
Moat: narrow (regulatory licence, scale). Regulated municipal monopoly over water supply and treatment in Chongqing.
Headquarters: Chongqing, China · Employees: 6,265
Size Chongqing Water (601158.SS) is a China Utilities company (Water Utilities) with a market value of $3.01B, the 854th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.18 on 6 Nov 2026.
Performance Over six months the shares fell 5.6%, against -4.1% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 15 in its peer set.
Growth Revenue grew 1.0% over the last twelve months (peer median +5.3%); the operating margin is 14.1% (peer median 24.2%).
Valuation It trades at 22.6× forward earnings against a peer median of 10.8× (2nd most expensive of 12).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.9 points above its cost of capital (5.0% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.52B | CN¥7.51B | CN¥7.09B | CN¥7.14B | CN¥7.67B |
| Revenue growth | — | +6% | -1% | -7% | — |
| Gross profit | CN¥4.01B | CN¥2.01B | CN¥1.85B | CN¥1.61B | CN¥2.60B |
| EBITDA | n/a | CN¥3.20B | CN¥2.90B | CN¥2.60B | CN¥3.37B |
| Net income | CN¥862M | CN¥809M | CN¥782M | CN¥1.09B | CN¥1.91B |
| Free cash flow | CN¥650M | CN¥753M | -CN¥403M | -CN¥1.36B | -CN¥375M |
| Capital expenditure | CN¥1.56B | CN¥1.27B | CN¥2.88B | CN¥3.96B | CN¥3.23B |
| Total debt | CN¥11.4B | CN¥11.7B | CN¥10.4B | CN¥10.1B | CN¥7.26B |
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 |
|---|---|---|---|---|---|---|
| Chongqing Water 601158.SS | $3.01B | -6% | +1% | 14% | 22.6× | -5.0% |
| Beijing Capital Eco-Environment Protection 600008.SS | $3.09B | -8% | -8% | 21% | 10.8× | 0.3% |
| Chengdu Xingrong Environment 000598.SZ | $3.27B | +7% | +1% | 29% | 10.3× | -8.2% |
| Jiangxi Hongcheng Environment 600461.SS | $1.69B | -17% | -11% | 24% | 9.1× | -10.2% |
| Guangdong Investment 0270.HK | $6.81B | 0% | +25% | 38% | 10.8× | -1.8% |
| Beijing Enterprises Water 0371.HK | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% |
| Zhongshan Public Utilities 000685.SZ | $2.36B | -8% | -11% | 11% | 6.2× | 9.9% |
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 | 601158.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | -1.3% | 6th highest of 15 |
| 6-month return | -5.6% | -4.1% | 8th highest of 15 |
| Distance from 52-week high | -14.9% | -18.2% | 7th highest of 15 |
| Revenue growth (TTM) | +1.0% | +5.3% | 7th lowest of 15 |
| Operating margin | 14.1% | 24.2% | 4th lowest of 15 |
| Forward P/E | 22.6× | 10.8× | 2nd most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | -5.0% | -0.6% | 3rd least demanding of 10 |
| Growth delivered (Del g) | +3.5% | +6.2% | 5th lowest of 10 |
| Hurdle (Req g minus delivered) | -8.5 pp | -6.3 pp | 4th least demanding of 10 |
| ROIC minus cost of capital | +2.9 pp | -0.9 pp | 3rd highest of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chongqing Water 601158.SS | China | $3.01B | -6% | +1% | 14% | 22.6× | -5.0% | +3.5% |
| H2O America HTO | United States | $3.04B | +9% | +4% | 21% | 22.5× | n/a | n/a |
| Beijing Capital Eco-Environment Protection 600008.SS | China | $3.09B | -8% | -8% | 21% | 10.8× | 0.3% | -0.4% |
| Pennon PNN.L | United Kingdom | $3.18B | -35% | +23% | 25% | 13.3× | n/a | n/a |
| California Water Service CWT | United States | $3.21B | +17% | +7% | 21% | 19.0× | n/a | n/a |
| Chengdu Xingrong Environment 000598.SZ | China | $3.27B | +7% | +1% | 29% | 10.3× | -8.2% | +10.8% |
| American States Water AWR | United States | $3.57B | +17% | +13% | 32% | 23.9× | 9.3% | +6.2% |
| Zhongshan Public Utilities 000685.SZ | China | $2.36B | -8% | -11% | 11% | 6.2× | 9.9% | +16.2% |
| Jiangxi Hongcheng Environment 600461.SS | China | $1.69B | -17% | -11% | 24% | 9.1× | -10.2% | +2.6% |
| Indium Target Advanced Materials (Harbin) 000711.SZ | China | $1.54B | -27% | +46% | -4% | n/a | n/a | n/a |
| Guangdong Investment 0270.HK | Hong Kong | $6.81B | 0% | +25% | 38% | 10.8× | -1.8% | -4.1% |
| Middlesex Water MSEX | United States | $1.15B | +16% | +9% | 31% | 21.7× | n/a | n/a |
| Guangdong Shunkong Development 003039.SZ | China | $1.12B | -16% | +6% | 25% | n/a | 4.3% | +12.5% |
| China Water Affairs 0855.HK | Hong Kong | $823M | -22% | -11% | 25% | 5.8× | -0.6% | 0.0% |
| Jiangsu Jiangnan Water 601199.SS | China | $763M | +2% | -4% | 12% | n/a | -1.5% | +8.9% |