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Employees: 572
Size Kente Catalysts (603120.SS) is a China Materials company (Chemicals: Specialty) with a market value of $465M, the 4039th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥41.54 on 6 Nov 2026.
Performance Over six months the shares gained 6.2%, against -20.0% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 8.8% over the last twelve months (peer median +11.3%); the operating margin is 12.2% (peer median 1.4%).
Valuation It trades at 3.9× enterprise value to sales against a peer median of 1.2× (most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is -9%, so the hurdle is +27 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.1 points above its cost of capital (9.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥669M | CN¥609M | CN¥614M | CN¥663M | CN¥806M |
| Revenue growth | — | -1% | -7% | -18% | — |
| Gross profit | CN¥200M | CN¥153M | CN¥163M | CN¥162M | CN¥203M |
| EBITDA | n/a | CN¥130M | CN¥145M | CN¥143M | CN¥168M |
| Net income | CN¥80.3M | CN¥82.4M | CN¥93.5M | CN¥85.2M | CN¥110M |
| Free cash flow | CN¥34.1M | CN¥62.0M | CN¥78.8M | CN¥105M | CN¥50.3M |
| Capital expenditure | CN¥90.7M | CN¥47.7M | CN¥16.8M | CN¥21.7M | CN¥72.0M |
| Total debt | CN¥21.9M | CN¥65.9M | CN¥77.3M | CN¥86.5M | CN¥155M |
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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 | 603120.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.6% | -9.8% | 3rd lowest of 21 |
| 6-month return | +6.2% | -20.0% | 5th highest of 21 |
| Distance from 52-week high | -36.2% | -40.3% | 8th highest of 21 |
| Revenue growth (TTM) | +8.8% | +11.3% | 11th highest of 21 |
| Operating margin | 12.2% | 1.4% | 2nd highest of 21 |
| EV / Sales | 3.9× | 1.2× | most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 18.3% | 3.1% | 4th most demanding of 14 |
| Growth delivered (Del g) | -8.9% | +7.2% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | +27.2 pp | -10.1 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | +4.1 pp | -6.0 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kente Catalysts 603120.SS | China | $465M | +6% | +9% | 12% | 3.9× | 18.3% | -8.9% |
| Dymatic Chemicals 002054.SZ | China | $465M | -25% | +21% | 8% | 1.7× | -0.8% | +12.9% |
| Lee & Man Chemical 0746.HK | Hong Kong | $465M | -9% | +3% | 18% | 1.1× | -8.5% | +3.9% |
| Nantong Jiangtian Chemical 300927.SZ | China | $463M | -29% | +51% | 5% | 1.7× | 18.0% | +29.0% |
| JSP 7942.T | Japan | $462M | +29% | +14% | 8% | 0.5× | -4.0% | +7.2% |
| FuJian Nox Bellcow 300132.SZ | China | $459M | -37% | +18% | 7% | 1.0× | 3.1% | -10.5% |
| Ho Tung Chemical 1714.TW | Taiwan | $459M | +67% | +36% | 10% | 0.5× | -17.3% | -1.5% |
| Shaanxi Xinghua Chemistry 002109.SZ | China | $473M | -39% | +20% | -1% | 1.6× | 2.0% | +13.0% |
| Braskem S.A. Sponsored ADR Pfd BAK | United States | $457M | -70% | -1% | 1% | 0.9× | n/a | n/a |
| Zhejiang Hisun Biomaterials 688203.SS | China | $473M | +16% | +47% | 4% | 2.5× | 16.5% | +26.6% |
| Valhi VHI | United States | $456M | +11% | +3% | 1% | 0.6× | 32.2% | +2.3% |
| Gujarat Alkalies & Chemicals GUJALKALI.NS | India | $476M | -23% | +7% | 2% | 1.0× | 39.8% | +12.5% |
| Shanghai Huide Science & Technology 603192.SS | China | $476M | -15% | +2% | 3% | 1.0× | 15.5% | +10.5% |
| Advansix ASIX | United States | $454M | -17% | +8% | -1% | 0.5× | 55.3% | +5.6% |
| Changhua Chemical Technology 301518.SZ | China | $452M | -45% | +17% | -2% | 1.2× | n/a | n/a |
| Tian Jin Bohai Chemical 600800.SS | China | $479M | -37% | -24% | -20% | 1.7× | n/a | n/a |
| Soulbrain 036830.KS | South Korea | $480M | -55% | +16% | -3% | 1.5× | n/a | n/a |
| Laxmi Organic Industries LXCHEM.NS | India | $480M | 0% | +5% | 6% | 1.4× | n/a | n/a |
| Jiangxi Chenguang New Materials 605399.SS | China | $482M | -30% | +15% | -9% | 2.8× | n/a | n/a |
| Renxin New Material 301395.SZ | China | $445M | -10% | +1% | -6% | 1.4× | n/a | n/a |
| UPC Technology 1313.TW | Taiwan | $445M | +4% | -1% | -23% | 0.2× | -2.6% | +2.5% |