Employees: 599
Size Beijing Tianma Intelligent Control Technology (688570.SS) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $628M, the 3314th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥13.78 on 6 Nov 2026.
Performance Over six months the shares fell 21.6%, against -18.6% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 4.6% over the last twelve months (peer median +0.4%); the operating margin is -1.3% (peer median 4.5%).
Valuation It trades at 44.5× forward earnings against a peer median of 16.2× (most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 14% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +7 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 7.3 points below its cost of capital (6.7% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.61B | CN¥1.62B | CN¥1.85B | CN¥2.19B | CN¥1.96B |
| Revenue growth | — | -13% | -16% | +12% | — |
| Gross profit | CN¥413M | CN¥468M | CN¥802M | CN¥1.00B | CN¥910M |
| EBITDA | CN¥33.9M | CN¥95.1M | CN¥334M | CN¥457M | CN¥461M |
| Net income | CN¥35.0M | CN¥97.8M | CN¥340M | CN¥425M | CN¥397M |
| Free cash flow | CN¥62.6M | CN¥170M | CN¥321M | CN¥231M | CN¥272M |
| Capital expenditure | CN¥55.1M | CN¥41.5M | CN¥45.7M | CN¥34.8M | CN¥13.0M |
| Total debt | CN¥240M | CN¥360M | CN¥282M | CN¥326M | CN¥343M |
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| Measure | 688570.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.7% | -9.4% | 7th highest of 21 |
| 6-month return | -21.6% | -18.6% | 9th lowest of 21 |
| Distance from 52-week high | -30.9% | -32.1% | 10th highest of 21 |
| Revenue growth (TTM) | -4.6% | +0.4% | 5th lowest of 21 |
| Operating margin | -1.3% | 4.5% | 5th lowest of 21 |
| Forward P/E | 44.5× | 16.2× | most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 14.1% | 8.1% | 5th most demanding of 14 |
| Growth delivered (Del g) | +6.8% | +2.6% | 5th highest of 14 |
| Hurdle (Req g minus delivered) | +7.3 pp | +3.4 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | -7.3 pp | -1.9 pp | 3rd lowest of 21 |
| Net debt / EBITDA | -56.7× | 0.8× | least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Tianma Intelligent Control Technology 688570.SS | China | $628M | -22% | -5% | -1% | 44.5× | 14.1% | +6.8% |
| Balu Forge Industries BALUFORGE.NS | India | $624M | -10% | +31% | 26% | 15.9× | n/a | n/a |
| Chengdu Xinzhu Road & Bridge Machinery 002480.SZ | China | $620M | -18% | -21% | -4% | n/a | 12.5% | -8.7% |
| Weihai Guangtai Airport Equipment 002111.SZ | China | $620M | -29% | +11% | 6% | 14.7× | 5.8% | +2.4% |
| CSBC Corp. Taiwan 2208.TW | Taiwan | $642M | -18% | -15% | -5% | n/a | n/a | n/a |
| Shaanxi Construction Machinery 600984.SS | China | $611M | -24% | -4% | -61% | n/a | 6.9% | -8.6% |
| Beijing Tieke Shougang Railway-Tech 688569.SS | China | $606M | -5% | +24% | 22% | 16.1× | -2.0% | +0.8% |
| Songz Automobile Air Conditioning 002454.SZ | China | $596M | -36% | +7% | 4% | 16.1× | n/a | n/a |
| Ponsse PON1V.HE | Finland | $595M | -15% | -3% | 4% | 19.2× | n/a | n/a |
| Hangzhou Huning Elevator Parts 300669.SZ | China | $591M | -36% | -2% | 1% | n/a | 50.1% | -1.7% |
| Ajax Engineering AJAXENGG.NS | India | $676M | +1% | +1% | 12% | 24.3× | 25.4% | +23.2% |
| Endur ENDUR.OL | Norway | $696M | +7% | +88% | 5% | 19.2× | 8.8% | +88.7% |
| Jianglong Shipbuilding 300589.SZ | China | $699M | -25% | -9% | -12% | 42.5× | n/a | n/a |
| Eurocrane (China) 603966.SS | China | $557M | -32% | -3% | 9% | n/a | 1.2% | +14.0% |
| Tianjin Keyvia Electric 300407.SZ | China | $549M | -20% | +13% | 2% | n/a | -1.6% | +6.6% |
| Jinxi Axle 600495.SS | China | $728M | -6% | +19% | -1% | n/a | 22.1% | +2.6% |
| Nanjing Railway New Technology 301016.SZ | China | $542M | -28% | -1% | 18% | n/a | 19.2% | -3.9% |
| Wetown Electric 688226.SS | China | $729M | -55% | +54% | 3% | 29.9× | n/a | n/a |
| VBG VBG-B.ST | Sweden | $734M | -16% | +5% | 10% | 16.2× | 2.7% | +11.4% |
| Shanghai Chuangli 603012.SS | China | $738M | -12% | -17% | 5% | n/a | 8.1% | +2.8% |
| Japan Engine 6016.T | Japan | $532M | -19% | -2% | 20% | 15.5× | n/a | n/a |