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Municipal natural-gas distribution utility supplying piped gas to residential and industrial customers in Chengdu.
Municipal natural-gas distribution utility supplying piped gas to residential and industrial customers in Chengdu.
Buys pipeline gas from upstream suppliers such as PetroChina and resells it at regulated prices, earning the gap, and also earns one-off fees for connecting new homes and businesses to the network. Earnings depend on how well upstream cost increases are passed on to customers.
In one line: A Chinese city-gas utility.
Moat: narrow (regulatory licence). Exclusive municipal gas-distribution concession in Chengdu.
Headquarters: Chengdu, China · Employees: 2,525
Size Chengdu Gas (603053.SS) is a China Utilities company (Gas Distributors) with a market value of $1.09B, the 2146th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.15 on 6 Nov 2026.
Performance Over six months the shares fell 15.9%, against -13.7% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 1.4% over the last twelve months (peer median +0.3%); the operating margin is 5.8% (peer median 6.0%).
Valuation It trades at 0.8× enterprise value to sales against a peer median of 1.4× (4th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.9 points above its cost of capital (5.6% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.17B | CN¥5.34B | CN¥5.26B | CN¥5.15B | CN¥4.81B |
| Revenue growth | — | +1% | +2% | +7% | — |
| Gross profit | CN¥1.00B | CN¥906M | CN¥868M | CN¥910M | CN¥855M |
| EBITDA | n/a | CN¥743M | CN¥682M | CN¥744M | CN¥666M |
| Net income | CN¥305M | CN¥481M | CN¥489M | CN¥526M | CN¥492M |
| Free cash flow | CN¥436M | CN¥595M | CN¥579M | CN¥1.11B | CN¥625M |
| Capital expenditure | CN¥55.1M | CN¥95.4M | CN¥131M | CN¥259M | CN¥171M |
| Total debt | CN¥21.7M | CN¥27.7M | CN¥103M | CN¥317M | CN¥157M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Chengdu Gas 603053.SS | $1.09B | -16% | -1% | 6% | 0.8× | -10.0% |
| Shenzhen Gas 601139.SS | $2.79B | -7% | -1% | 7% | 0.9× | -9.2% |
| China Suntien Green Energy 600956.SS | $3.40B | -18% | -12% | 13% | 4.3× | n/a |
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 | 603053.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.7% | -4.2% | 7th lowest of 21 |
| 6-month return | -15.9% | -13.7% | 10th lowest of 21 |
| Distance from 52-week high | -28.1% | -32.3% | 9th highest of 21 |
| Revenue growth (TTM) | -1.4% | +0.3% | 10th lowest of 21 |
| Operating margin | 5.8% | 6.0% | 10th lowest of 21 |
| EV / Sales | 0.8× | 1.4× | 4th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -10.0% | 0.0% | 2nd least demanding of 16 |
| Growth delivered (Del g) | +5.1% | +8.6% | 6th lowest of 16 |
| Hurdle (Req g minus delivered) | -15.1 pp | -4.0 pp | 5th least demanding of 16 |
| ROIC minus cost of capital | +14.9 pp | -1.7 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chengdu Gas 603053.SS | China | $1.09B | -16% | -1% | 6% | 0.8× | -10.0% | +5.1% |
| Chongqing Gas 600917.SS | China | $1.07B | -12% | -4% | 0% | 0.8× | 15.0% | +8.6% |
| Guizhou Gas (Group) 600903.SS | China | $1.02B | -9% | -6% | 4% | 2.1× | 8.0% | +9.4% |
| Tokai 3167.T | Japan | $1.02B | +9% | +1% | 8% | 0.8× | -5.6% | +4.5% |
| Shaanxi Provincial Natural Gas 002267.SZ | China | $1.17B | -11% | +2% | 8% | 1.4× | -5.1% | +1.0% |
| Delong Composite Energy 000593.SZ | China | $896M | -34% | -24% | 6% | 4.8× | 31.8% | +3.7% |
| Zhongyu Energy 3633.HK | Hong Kong | $896M | -7% | -7% | 6% | 1.8× | n/a | n/a |
| Towngas Smart Energy 1083.HK | Hong Kong | $1.46B | -15% | +3% | 6% | 1.3× | 6.3% | +10.3% |
| SK Gas 018670.KS | South Korea | $1.55B | -19% | +27% | 4% | 0.2× | -17.3% | +11.7% |
| Xinjiang Xintai Natural Gas 603393.SS | China | $1.55B | -22% | +4% | 22% | 4.2× | -8.4% | +12.3% |
| Shanghai Dazhong Public Utilities (Group) 1635.HK | Hong Kong | $1.59B | -41% | +6% | 1% | 2.2× | n/a | n/a |
| Ascopiave ASC.MI | Italy | $699M | -8% | +34% | 26% | 4.5× | 4.4% | +8.3% |
| NIPPON GAS 8174.T | Japan | $1.69B | +1% | +8% | 9% | 1.4× | -2.9% | +7.8% |
| Henan Lantian Gas 605368.SS | China | $687M | -18% | -9% | 8% | 1.3× | 0.0% | +2.7% |
| Shenzhen Guangju Energy 000096.SZ | China | $634M | -18% | +4% | 4% | 2.8× | n/a | n/a |
| Shizuoka Gas 9543.T | Japan | $631M | -5% | 0% | 6% | 0.5× | -9.0% | +10.6% |
| Saibu Gas 9536.T | Japan | $630M | +23% | -6% | 5% | 1.4× | n/a | n/a |
| Anhui Province Natural Gas Development 603689.SS | China | $601M | -10% | -9% | 9% | 1.3× | 0.6% | +1.4% |
| K&O Energy 1663.T | Japan | $585M | -28% | -1% | 12% | 0.6× | -8.6% | +9.3% |
| Centuri CTRI | United States | $2.06B | -41% | +25% | 3% | 0.9× | n/a | n/a |
| Top Resource Energy 300332.SZ | China | $556M | -20% | -3% | 0% | 2.0× | 12.9% | +8.8% |