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Overseas trading arm of state-owned China National Tobacco Corporation, exporting Chinese tobacco leaf and cigarette products.
Overseas trading arm of state-owned China National Tobacco Corporation, exporting Chinese tobacco leaf and cigarette products.
As the export channel of China's state tobacco monopoly, it buys cigarettes and leaf from the monopoly's own manufacturers and sells them abroad, which makes it a trader rather than a manufacturer. Supply, brand range and export volumes are all set within the parent system.
In one line: The export/trading arm of China's tobacco monopoly, akin to Philip Morris International.
Moat: narrow (regulatory licence, distribution). Exclusive export-trading rights granted by China's state tobacco monopoly (CNTC).
Headquarters: Hong Kong · Founded: 2003 · Employees: 73
Size China Tobacco International (HK) (6055.HK) is a Hong Kong Consumer Staples company (Tobacco) with a market value of $2.31B, the 391st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$26.14 on 6 Nov 2026.
Performance Over six months the shares fell 12.3%, against -1.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 14 in its peer set.
Growth Revenue fell 19.6% over the last twelve months (peer median +2.4%); the operating margin is 10.2% (peer median 21.4%).
Valuation It trades at 19.8× forward earnings against a peer median of 15.6× (5th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is -29 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 27.8 points above its cost of capital (9.4% WACC).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$11.8B | HK$14.6B | HK$13.1B | HK$11.8B | HK$8.32B |
| Revenue growth | — | +12% | +10% | +42% | — |
| Gross profit | HK$1.32B | HK$1.42B | HK$1.32B | HK$1.04B | HK$794M |
| EBITDA | HK$1.27B | HK$1.36B | HK$1.28B | HK$986M | HK$707M |
| Net income | HK$901M | HK$980M | HK$854M | HK$599M | HK$375M |
| Free cash flow | HK$1.01B | HK$1.20B | HK$748M | HK$580M | -HK$390M |
| Capital expenditure | HK$5.22M | HK$7.13M | HK$19.0M | HK$16.1M | HK$6.27M |
| Total debt | n/a | HK$2.82B | HK$2.98B | HK$2.49B | HK$2.11B |
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 |
|---|---|---|---|---|---|---|
| China Tobacco International (HK) 6055.HK | $2.31B | -12% | -20% | 10% | 19.8× | 4.1% |
| Philip Morris International PM | $308B | +17% | +8% | 38% | 22.6× | -0.8% |
| British American Tobacco p.l.c BATS.L | $132B | -1% | +1% | 38% | 12.6× | 3.8% |
| Japan Tobacco 2914.T | $70.6B | +9% | +13% | 25% | 16.8× | -5.3% |
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 | 6055.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.8% | +3.6% | highest of 14 |
| 6-month return | -12.3% | -1.4% | 6th lowest of 14 |
| Distance from 52-week high | -43.8% | -26.0% | 3rd lowest of 14 |
| Revenue growth (TTM) | -19.6% | +2.4% | lowest of 14 |
| Operating margin | 10.2% | 21.4% | 2nd lowest of 14 |
| Forward P/E | 19.8× | 15.6× | 5th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 4.1% | -0.8% | 6th most demanding of 14 |
| Growth delivered (Del g) | +33.1% | +5.4% | highest of 14 |
| Hurdle (Req g minus delivered) | -29.1 pp | -7.9 pp | least demanding of 14 |
| ROIC minus cost of capital | +27.8 pp | +5.4 pp | 3rd highest of 14 |
| EV / EBITDA | 13.1× | 10.5× | 6th most expensive of 14 |
| Net debt / EBITDA | -1.3× | 0.5× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Tobacco International (HK) 6055.HK | Hong Kong | $2.31B | -12% | -20% | 10% | 19.8× | 4.1% | +33.1% |
| Godfrey Phillips India GODFRYPHLP.NS | India | $2.96B | -24% | +1% | 21% | 16.0× | 27.1% | +20.6% |
| Turning Point Brands TPB | United States | $1.32B | -29% | +20% | 17% | 71.8× | 11.0% | +2.7% |
| Scandinavian Tobacco Group A/S STG.CO | Denmark | $890M | +10% | -4% | 14% | 7.6× | -9.1% | +2.4% |
| Smoore International 6969.HK | Hong Kong | $6.61B | -19% | +25% | 7% | 32.3× | 28.7% | +6.6% |
| Miquel y Costas & Miquel MCM.MC | Spain | $434M | -29% | -4% | 15% | n/a | -7.7% | +2.7% |
| KT&G 033780.KS | South Korea | $14.5B | +7% | +11% | 21% | 15.2× | -4.2% | +5.4% |
| VST Industries VSTIND.NS | India | $349M | -25% | -2% | 22% | 8.7× | 9.5% | +5.7% |
| Imperial Brands IMB.L | United Kingdom | $29.9B | +5% | +5% | 19% | 8.9× | -9.3% | +2.7% |
| ITC ITC.NS | India | $37.5B | -8% | -2% | 30% | 20.2× | 13.2% | +9.8% |
| Japan Tobacco 2914.T | Japan | $70.6B | +9% | +13% | 25% | 16.8× | -5.3% | +10.6% |
| Altria MO | United States | $127B | +13% | +2% | 75% | 12.9× | -10.9% | -0.7% |
| British American Tobacco p.l.c BATS.L | United Kingdom | $132B | -1% | +1% | 38% | 12.6× | 3.8% | -0.1% |
| Philip Morris International PM | United States | $308B | +17% | +8% | 38% | 22.6× | -0.8% | +7.2% |