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Employees: 2,104
Size Fujian Tianma Science & Technology (603668.SS) is a China Consumer Staples company (Agricultural Commodities/Milling) with a market value of $488M, the 3914th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.54 on 6 Nov 2026.
Performance Over six months the shares fell 51.6%, against -8.0% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 5.9% over the last twelve months (peer median -0.4%); the operating margin is -0.7% (peer median 1.6%).
Valuation It trades at 4.6× forward earnings against a peer median of 11.8× (cheapest of 9).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +19 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 6.0 points below its cost of capital (5.6% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.16B | CN¥6.00B | CN¥5.85B | CN¥7.00B | CN¥6.99B |
| Revenue growth | — | +3% | -16% | 0% | — |
| Gross profit | CN¥340M | CN¥400M | CN¥595M | CN¥477M | CN¥618M |
| EBITDA | CN¥299M | CN¥347M | CN¥510M | CN¥267M | CN¥458M |
| Net income | -CN¥227M | -CN¥179M | CN¥26.0M | -CN¥188M | CN¥130M |
| Free cash flow | CN¥88.0M | -CN¥148M | CN¥6.24M | -CN¥600M | -CN¥1.12B |
| Capital expenditure | CN¥186M | CN¥256M | CN¥478M | CN¥672M | CN¥1.16B |
| Total debt | CN¥5.53B | CN¥5.45B | CN¥4.83B | CN¥4.80B | CN¥3.93B |
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.
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 | 603668.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -41.5% | -2.0% | lowest of 21 |
| 6-month return | -51.6% | -8.0% | lowest of 21 |
| Distance from 52-week high | -66.7% | -27.4% | 2nd lowest of 21 |
| Revenue growth (TTM) | +5.9% | -0.4% | 8th highest of 21 |
| Operating margin | -0.7% | 1.6% | 8th lowest of 21 |
| Forward P/E | 4.6× | 11.8× | cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | 29.6% | 0.9% | most demanding of 10 |
| Growth delivered (Del g) | +10.5% | +4.9% | 3rd highest of 10 |
| Hurdle (Req g minus delivered) | +19.1 pp | +3.4 pp | 2nd most demanding of 10 |
| ROIC minus cost of capital | -6.0 pp | -2.4 pp | 8th lowest of 21 |
| Net debt / EBITDA | 17.0× | 0.5× | 2nd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fujian Tianma Science & Technology 603668.SS | China | $488M | -52% | +6% | -1% | 4.6× | 29.6% | +10.5% |
| Shandong Homey Aquatic Development 600467.SS | China | $486M | -9% | -21% | 14% | n/a | 5.0% | -3.1% |
| Zhanjiang Guolian Aquatic Products 300094.SZ | China | $490M | -8% | -9% | -28% | n/a | 0.7% | -6.6% |
| Solbar Ningbo Protein Technology 603231.SS | China | $493M | +1% | +20% | 8% | 14.8× | n/a | n/a |
| J-Oil Mills 2613.T | Japan | $474M | +15% | +1% | 2% | 16.1× | n/a | n/a |
| CNFC Overseas Fisheries 000798.SZ | China | $470M | -8% | -2% | -2% | n/a | n/a | n/a |
| Bajaj Hindusthan Sugar BAJAJHIND.NS | India | $470M | -8% | -2% | 1% | n/a | n/a | n/a |
| Royal 002329.SZ | China | $467M | -15% | -2% | -25% | n/a | n/a | n/a |
| ForFarmers FFARM.AS | Netherlands | $537M | -18% | +7% | 3% | 8.2× | -9.9% | +6.0% |
| Jiangsu Yike Food 301116.SZ | China | $538M | -28% | +6% | 0% | 42.0× | n/a | n/a |
| Wanxiang Doneed 600371.SS | China | $544M | +41% | -13% | -11% | n/a | n/a | n/a |
| Shiyue Daotian 9676.HK | Hong Kong | $545M | -35% | +26% | 7% | 8.4× | n/a | n/a |
| Ningxia Xiaoming Agriculture & Animal Husbandry 300967.SZ | China | $435M | -7% | -17% | -2% | n/a | 21.1% | +17.7% |
| Kadoya Sesame Mills 2612.T | Japan | $550M | +94% | -2% | 10% | n/a | 0.9% | +5.0% |
| Tilray Brands TLRY.TO | Canada | $433M | -47% | +17% | -6% | n/a | n/a | n/a |
| WELLNEO SUGAR 2117.T | Japan | $555M | +2% | +8% | 10% | n/a | -10.2% | +20.9% |
| Shenzhen Kingsino Technology 002548.SZ | China | $428M | -35% | -2% | -12% | 8.2× | 12.6% | +3.2% |
| Triveni Engineering and Industries TRIVENI.NS | India | $561M | -4% | +2% | 8% | 11.0× | n/a | n/a |
| Bannari Amman Sugars BANARISUG.NS | India | $423M | -13% | -8% | 6% | n/a | 26.7% | +4.9% |
| Inghams ING.AX | Australia | $563M | +13% | +2% | 4% | 12.7× | -1.2% | +3.9% |
| Baiyang Investment 002696.SZ | China | $569M | +62% | +25% | 0% | n/a | n/a | n/a |