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World's largest construction company by revenue, building homes, infrastructure and engaged in real estate development.
World's largest construction company by revenue, building homes, infrastructure and engaged in real estate development.
Wins construction contracts through tenders and books revenue as work progresses, so its backlog of signed projects drives results; margins are thin and payments from developers and local governments can be slow. Its parent, the state-owned China State Construction Engineering Corporation, controls it, and it also builds overseas.
In one line: China's Bechtel/D.R. Horton combined, at vastly larger scale.
Moat: narrow (scale, regulatory licence). State-owned scale and qualification for the largest public infrastructure tenders; thin margins are the tradeoff.
Headquarters: Beijing, China · Founded: 1982 · Employees: 370,272
Size China State Construction Engineering (601668.SS) is a China Industrials company (Engineering & Construction) with a market value of $28.3B, the 65th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.71 on 6 Nov 2026.
Performance Over six months the shares fell 4.1%, against -14.9% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 9.3% over the last twelve months (peer median +6.7%).
Valuation It trades at 5.6× forward earnings against a peer median of 17.1× (cheapest of 20).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.95T | CN¥2.08T | CN¥2.19T | CN¥2.26T | CN¥2.05T |
| Revenue growth | — | -5% | -3% | +10% | — |
| Gross profit | n/a | CN¥202B | CN¥211B | CN¥218B | CN¥210B |
| EBITDA | n/a | CN¥101B | CN¥114B | CN¥122B | CN¥114B |
| Net income | CN¥29.2B | CN¥39.1B | CN¥46.2B | CN¥54.2B | CN¥50.7B |
| Free cash flow | n/a | -CN¥18.6B | CN¥32.3B | -CN¥14.2B | -CN¥13.6B |
| Capital expenditure | n/a | CN¥26.2B | CN¥19.8B | CN¥34.1B | CN¥25.9B |
| Total debt | n/a | CN¥957B | CN¥884B | CN¥820B | CN¥715B |
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 |
|---|---|---|---|---|---|---|
| China State Construction Engineering 601668.SS | $28.3B | -4% | -9% | n/a | 5.6× | n/a |
| China Railway 601390.SS | $15.1B | -13% | -7% | 4% | 6.0× | n/a |
| China Communications Construction 601800.SS | $12.8B | -12% | -4% | 3% | 6.8× | n/a |
| China Railway Construction 601186.SS | $11.4B | -11% | -9% | 4% | 4.9× | n/a |
| Power Construction Corporation of China 601669.SS | $11.5B | -20% | -2% | 4% | 8.4× | n/a |
| China Energy Engineering 601868.SS | $13.6B | -18% | -5% | 4% | 17.9× | n/a |
| Metallurgical Corporation of China 601618.SS | $7.54B | -10% | -21% | -4% | 11.4× | -0.5% |
| Shanghai Construction 600170.SS | $2.89B | -20% | -22% | 1% | 16.7× | -10.4% |
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 | 601668.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.3% | +2.6% | 8th highest of 21 |
| 6-month return | -4.1% | -14.9% | 5th highest of 21 |
| Distance from 52-week high | -18.8% | -31.6% | 8th highest of 21 |
| Revenue growth (TTM) | -9.3% | +6.7% | lowest of 21 |
| Forward P/E | 5.6× | 17.1× | cheapest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China State Construction Engineering 601668.SS | China | $28.3B | -4% | -9% | n/a | 5.6× | n/a | n/a |
| Emcor EME | United States | $26.6B | -34% | +22% | 10% | 15.5× | 6.2% | +14.1% |
| Otis Worldwide OTIS | United States | $30.1B | +6% | +6% | 15% | 18.1× | 2.3% | +2.5% |
| ACS, Actividades de Construccion y Servicios ACS.MC | Spain | $26.0B | -37% | +10% | 3% | 20.6× | -2.6% | +11.2% |
| HOCHTIEF Aktiengesellschaft HOT.DE | Germany | $30.9B | -31% | +8% | 4% | 25.1× | 2.6% | +10.7% |
| Samsung C&t 028260.KS | South Korea | $31.3B | -8% | +14% | 8% | 15.0× | 5.9% | +6.2% |
| Comfort Systems USA FIX | United States | $35.6B | -48% | +51% | 17% | 16.2× | 12.4% | +26.1% |
| Geberit GEBN.SW | Switzerland | $22.1B | +14% | +3% | 29% | 29.8× | 6.6% | +1.2% |
| Cellnex Telecom CLNX.MC | Spain | $19.6B | -7% | 0% | 13% | n/a | 29.7% | +22.5% |
| Ferrovial FER.MC | Spain | $42.3B | -10% | +5% | 10% | 55.5× | 21.9% | +8.1% |
| Bouygues EN.PA | France | $18.3B | -18% | -1% | 5% | 12.9× | -0.8% | +10.4% |
| APi APG | United States | $17.5B | -7% | +16% | 7% | 20.7× | 27.8% | +17.1% |
| WSP Global WSP.TO | Canada | $17.5B | -19% | +10% | 10% | 14.4× | 0.0% | +15.7% |
| China Railway 601390.SS | China | $15.1B | -13% | -7% | 4% | 6.0× | n/a | n/a |
| MasTec MTZ | United States | $14.0B | -58% | +26% | 5% | 15.0× | 21.6% | +17.7% |
| China Energy Engineering 601868.SS | China | $13.6B | -18% | -5% | 4% | 17.9× | n/a | n/a |
| Acciona ANA.MC | Spain | $13.4B | -16% | +8% | 6% | 19.8× | 8.2% | +25.6% |
| Larsen & Toubro LT.NS | India | $59.8B | +2% | +11% | 8% | 27.6× | 29.7% | +16.1% |
| China Communications Construction 601800.SS | China | $12.8B | -12% | -4% | 3% | 6.8× | n/a | n/a |
| Kajima 1812.T | Japan | $12.5B | -27% | +4% | 8% | 10.8× | -1.9% | +10.0% |
| Skanska SKA-B.ST | Sweden | $12.1B | +16% | -6% | 4% | 17.1× | 8.3% | +2.0% |