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Chinese maker of industrial valves for oil & gas, petrochemical and power industries, sold globally.
Chinese maker of industrial valves for oil & gas, petrochemical and power industries, sold globally.
Sells valves mostly on project orders placed through engineering contractors and plant owners, so sales follow oil, gas and petrochemical investment rather than steady replacement cycles, and each customer must approve its valves before ordering.
In one line: A Chinese industrial-valve maker, akin to a smaller Flowserve/Emerson valve unit.
Moat: narrow (process know-how, customer qualification). Engineering/qualification track record with oil & gas/petrochemical customers globally.
Headquarters: Suzhou, China · Employees: 4,459
Size Neway Valve (Suzhou) (603699.SS) is a China Industrials company (Industrial Machinery) with a market value of $4.66B, the 548th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥40.24 on 6 Nov 2026.
Performance Over six months the shares fell 35.9%, against -17.4% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 11.2% over the last twelve months (peer median +10.5%); the operating margin is 25.8% (peer median 11.6%).
Valuation It trades at 17.9× forward earnings against a peer median of 17.8× (8th most expensive of 16).
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 +16%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 25.1 points above its cost of capital (9.7% WACC).
Next results Next results expected around 12 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.22B | CN¥7.73B | CN¥6.21B | CN¥5.52B | CN¥4.04B |
| Revenue growth | — | +24% | +13% | +37% | — |
| Gross profit | CN¥3.34B | CN¥2.99B | CN¥2.33B | CN¥1.68B | CN¥1.20B |
| EBITDA | n/a | CN¥2.11B | CN¥1.61B | CN¥1.01B | CN¥644M |
| Net income | CN¥1.60B | CN¥1.60B | CN¥1.16B | CN¥722M | CN¥466M |
| Free cash flow | CN¥922M | CN¥1.99B | CN¥971M | CN¥513M | CN¥300M |
| Capital expenditure | CN¥289M | CN¥204M | CN¥148M | CN¥126M | CN¥267M |
| Total debt | CN¥2.63B | CN¥2.56B | CN¥1.91B | CN¥2.08B | CN¥1.69B |
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 |
|---|---|---|---|---|---|---|
| Neway Valve (Suzhou) 603699.SS | $4.66B | -36% | +11% | 26% | 17.9× | 10.0% |
| Flowserve FLS | $10.2B | +13% | 0% | 14% | 17.8× | 15.0% |
| Kitz 6498.T | $915M | -21% | +8% | 8% | 10.1× | 4.3% |
| Emerson Electric EMR | $90.6B | +15% | +5% | 21% | 22.3× | 19.9% |
| Velan VLN.TO | n/a | +16% | n/a | n/a | n/a | n/a |
| IMI IMI.L | $8.81B | +3% | +8% | 21% | 19.9× | 14.3% |
| Jiangsu Shentong Valve 002438.SZ | $1.01B | -23% | -5% | 17% | 17.5× | 5.9% |
| Crane CR | $11.6B | +11% | +22% | 18% | 25.8× | 17.5% |
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 | 603699.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.6% | -15.0% | 10th highest of 21 |
| 6-month return | -35.9% | -17.4% | 5th lowest of 19 |
| Distance from 52-week high | -40.1% | -39.9% | 11th highest of 21 |
| Revenue growth (TTM) | +11.2% | +10.5% | 10th highest of 21 |
| Operating margin | 25.8% | 11.6% | 2nd highest of 21 |
| Forward P/E | 17.9× | 17.8× | 8th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 10.0% | 11.2% | 6th least demanding of 13 |
| Growth delivered (Del g) | +16.5% | +10.6% | 2nd highest of 13 |
| Hurdle (Req g minus delivered) | -6.5 pp | +0.8 pp | 3rd least demanding of 13 |
| ROIC minus cost of capital | +25.1 pp | -2.4 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Neway Valve (Suzhou) 603699.SS | China | $4.66B | -36% | +11% | 26% | 17.9× | 10.0% | +16.5% |
| Circuit Fabology Microelectronics Equipment 9630.HK | Hong Kong | $4.68B | n/a | +103% | 27% | 36.1× | 8.5% | +34.4% |
| Wuhan DR Laser Technology 300776.SZ | China | $4.69B | -24% | -23% | 19% | 37.9× | 51.8% | +13.6% |
| Hangcha 603298.SS | China | $4.71B | -12% | +7% | 12% | 13.3× | 2.9% | +9.1% |
| Renishaw RSW.L | United Kingdom | $4.61B | -7% | +14% | 16% | 18.5× | 24.8% | +7.5% |
| AAON AAON | United States | $4.72B | -59% | +54% | 11% | 20.7× | n/a | n/a |
| UBTECH ROBOTICS 9880.HK | Hong Kong | $4.73B | -41% | +90% | -21% | n/a | n/a | n/a |
| Rainbow Robotics 277810.KS | South Korea | $4.59B | -52% | +92% | -16% | 653.8× | n/a | n/a |
| Interpump IP.MI | Italy | $4.57B | +3% | +1% | 14% | 16.8× | 12.6% | +9.9% |
| Horiba 6856.T | Japan | $4.79B | -17% | +12% | 17% | 14.4× | 11.2% | +12.2% |
| Alliance Laundry ALH | United States | $4.49B | -11% | +10% | 19% | 16.4× | 15.2% | +7.5% |
| HOSHIZAKI 6465.T | Japan | $4.93B | +5% | +12% | 10% | 17.8× | -4.5% | +15.3% |
| Jusung Engineering 036930.KS | South Korea | $4.39B | +5% | -33% | 0% | 145.3× | n/a | n/a |
| Leo 002131.SZ | China | $4.33B | -34% | +10% | -1% | n/a | n/a | n/a |
| Kion KGX.DE | Germany | $5.05B | -25% | +3% | 6% | 10.4× | n/a | n/a |
| X-Energy XE | United States | $4.24B | -65% | -9% | -156% | n/a | n/a | n/a |
| ESAB ESAB | United States | $5.15B | -18% | +11% | 13% | 14.0× | 12.7% | +7.8% |
| DMG MORI Aktiengesellschaft GIL.DE | Germany | $4.17B | 0% | +3% | 5% | n/a | 11.3% | +2.7% |
| Franklin Electric FELE | United States | $4.16B | -5% | +7% | 13% | 18.0× | 9.2% | +11.3% |
| Jiangsu Gao Kai Precision Fluid 688835.SS | China | $4.15B | n/a | +21% | 24% | n/a | n/a | n/a |
| Amada 6113.T | Japan | $4.10B | -20% | +18% | 10% | 15.9× | 8.7% | +11.8% |