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One of China's leading domestic cosmetics brands, selling skincare and beauty products mainly through e-commerce channels.
One of China's leading domestic cosmetics brands, selling skincare and beauty products mainly through e-commerce channels.
Sells mostly online, through Tmall and Douyin, supported by heavy marketing spending on those platforms, so results depend on how efficiently advertising and live-stream promotion turn into repeat buyers. It is building a group of brands, with Proya the main one.
In one line: China's top domestic skincare/beauty brand, akin to a fast-growing e-commerce-led challeng.
Moat: narrow (brand, distribution). Strong domestic e-commerce brand momentum versus multinational skincare incumbents.
Headquarters: Hangzhou, China · Employees: 3,252
Size Proya Cosmetics (603605.SS) is a China Consumer Staples company (Household/Personal Care) with a market value of $2.97B, the 869th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥50.05 on 6 Nov 2026.
Performance Over six months the shares fell 19.1%, against +2.6% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 2.0% over the last twelve months (peer median +3.9%); the operating margin is 12.7% (peer median 10.4%).
Valuation It trades at 11.1× forward earnings against a peer median of 20.9× (3rd cheapest of 20).
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 +23%, so the hurdle is -28 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 26.5 points above its cost of capital (5.9% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥11.1B | CN¥10.5B | CN¥10.7B | CN¥8.81B | CN¥6.34B |
| Revenue growth | — | -2% | +22% | +39% | — |
| Gross profit | CN¥8.18B | CN¥7.62B | CN¥7.56B | CN¥6.07B | CN¥4.35B |
| EBITDA | n/a | CN¥1.92B | CN¥1.92B | CN¥1.51B | CN¥1.14B |
| Net income | CN¥1.73B | CN¥1.50B | CN¥1.55B | CN¥1.19B | CN¥817M |
| Free cash flow | CN¥1.32B | CN¥2.05B | CN¥807M | CN¥1.29B | CN¥940M |
| Capital expenditure | CN¥213M | CN¥169M | CN¥300M | CN¥180M | CN¥171M |
| Total debt | CN¥856M | CN¥912M | CN¥841M | CN¥1.11B | CN¥1.17B |
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 |
|---|---|---|---|---|---|---|
| Proya Cosmetics 603605.SS | $2.97B | -19% | +2% | 13% | 11.1× | -4.8% |
| Shanghai Jahwa United 600315.SS | $1.74B | -13% | +9% | 2% | 18.1× | 17.1% |
| Yunnan Botanee Bio-Technology 300957.SZ | $1.84B | -28% | +7% | 9% | 21.2× | 4.5% |
| Guangdong Marubi Biotechnology 603983.SS | $1.45B | -4% | -6% | 2% | 37.0× | n/a |
| Shanghai Chicmax Cosmetics 2145.HK | $1.22B | -52% | +23% | 8% | 15.0× | -5.9% |
| Giant Biogene 2367.HK | $2.76B | -34% | -10% | 32% | 9.7× | -8.0% |
| Yatsen Holding Ltd. Sponsored ADR YSG | n/a | -35% | n/a | n/a | n/a | n/a |
| Estée Lauder Companies (The) EL | $39.9B | +28% | +6% | 13% | 31.1× | 16.8% |
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 | 603605.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.2% | +1.7% | 6th lowest of 21 |
| 6-month return | -19.1% | +2.6% | 5th lowest of 21 |
| Distance from 52-week high | -35.1% | -23.5% | 4th lowest of 21 |
| Revenue growth (TTM) | +2.0% | +3.9% | 8th lowest of 21 |
| Operating margin | 12.7% | 10.4% | 8th highest of 21 |
| Forward P/E | 11.1× | 20.9× | 3rd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -4.8% | 2.2% | 3rd least demanding of 17 |
| Growth delivered (Del g) | +23.1% | +6.0% | 2nd highest of 17 |
| Hurdle (Req g minus delivered) | -27.8 pp | -3.1 pp | 2nd least demanding of 17 |
| ROIC minus cost of capital | +26.5 pp | +5.1 pp | 5th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Proya Cosmetics 603605.SS | China | $2.97B | -19% | +2% | 13% | 11.1× | -4.8% | +23.1% |
| Lion 4912.T | Japan | $3.19B | +21% | +6% | 8% | 19.9× | -2.4% | +3.5% |
| Giant Biogene 2367.HK | Hong Kong | $2.76B | -34% | -10% | 32% | 9.7× | -8.0% | +34.9% |
| Winner Medical 300888.SZ | China | $2.69B | -2% | +4% | 11% | 20.9× | -4.3% | -2.6% |
| Hengan Int'l 1044.HK | Hong Kong | $3.28B | -16% | +2% | 11% | 9.1× | -8.8% | -0.1% |
| Kobayashi Pharmaceutical 4967.T | Japan | $3.29B | +20% | +4% | 6% | 50.2× | 17.6% | +1.9% |
| Gillette India GILLETTE.NS | India | $2.56B | -7% | +8% | 28% | 33.0× | 16.0% | +13.0% |
| LG H&h 051900.KS | South Korea | $2.56B | -8% | -3% | 3% | 18.5× | -0.1% | -4.1% |
| Coty COTY | United States | $3.57B | +64% | -1% | 5% | 13.3× | 11.3% | +4.6% |
| Interparfums ITP.PA | France | $3.65B | +72% | -4% | 18% | 27.5× | 15.9% | +19.6% |
| Procter & Gamble Hygiene & Health Care PGHH.NS | India | $2.40B | -29% | -2% | 24% | 27.3× | 15.4% | +7.4% |
| Rohto Pharmaceutical 4527.T | Japan | $3.97B | +17% | +10% | 12% | 16.7× | -2.1% | +13.7% |
| Softcare 2698.HK | Hong Kong | $2.20B | -5% | +25% | 25% | 14.4× | 8.7% | +20.9% |
| KOSE 4922.T | Japan | $2.16B | +7% | +3% | 4% | 27.2× | n/a | n/a |
| Cosmax 192820.KS | South Korea | $2.13B | +21% | +16% | 8% | 16.6× | n/a | n/a |
| Pola Orbis 4927.T | Japan | $1.96B | +8% | +1% | 10% | 28.8× | -3.1% | -0.7% |
| Kolmar Korea 161890.KS | South Korea | $1.89B | +23% | +13% | 10% | 13.0× | -0.9% | +15.5% |
| Blue Moon 6993.HK | Hong Kong | $1.88B | -15% | -2% | -2% | 93.6× | n/a | n/a |
| Yunnan Botanee Bio-Technology 300957.SZ | China | $1.84B | -28% | +7% | 9% | 21.2× | 4.5% | +15.3% |
| Colgate-Palmolive (India) COLPAL.NS | India | $4.83B | -23% | +9% | 28% | 32.2× | 30.8% | +4.5% |
| Cupid CUPID.NS | India | $4.83B | +158% | +122% | 34% | n/a | n/a | n/a |