There's No Escaping CNOOC Energy Technology & Services Limited's (SHSE:600968) Muted Earnings
Aug 20
Chinese (SSE) Energy Services Industry Analysis
UpdatedAug 24, 2024
DataAggregated Company Financials
Companies28
- 7D-3.9%
- 3M-12.6%
- 1Y-10.3%
- YTD-8.2%
Over the last 7 days, the Energy Services industry has dropped 4.5%, driven by Yantai Jereh Oilfield Services Group declining 3.8%. In contrast, Houpu Clean Energy Group has gained 7.9%. The industry has fallen 10% in the last year. Earnings are forecast to grow by 16% annually.
Industry Valuation and Performance
Has the Chinese Energy Services Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 24 Aug 2024 | CN¥194.4b | CN¥241.0b | CN¥11.5b | 19.5x | 16.9x | 0.8x |
| Mon, 22 Jul 2024 | CN¥201.9b | CN¥244.1b | CN¥11.5b | 19.8x | 17.6x | 0.8x |
| Wed, 19 Jun 2024 | CN¥214.5b | CN¥244.1b | CN¥11.5b | 22x | 18.7x | 0.9x |
| Fri, 17 May 2024 | CN¥225.2b | CN¥243.0b | CN¥11.4b | 24.7x | 19.7x | 0.9x |
| Sun, 14 Apr 2024 | CN¥225.1b | CN¥239.8b | CN¥10.7b | 24.9x | 21x | 0.9x |
| Tue, 12 Mar 2024 | CN¥213.0b | CN¥243.8b | CN¥11.2b | 22.8x | 19.1x | 0.9x |
| Thu, 08 Feb 2024 | CN¥185.8b | CN¥243.8b | CN¥11.2b | 18.5x | 16.6x | 0.8x |
| Sat, 06 Jan 2024 | CN¥210.8b | CN¥243.0b | CN¥10.0b | 26.5x | 21.1x | 0.9x |
| Mon, 04 Dec 2023 | CN¥215.9b | CN¥243.0b | CN¥10.0b | 27.8x | 21.6x | 0.9x |
| Wed, 01 Nov 2023 | CN¥216.5b | CN¥240.6b | CN¥9.8b | 27.5x | 22.1x | 0.9x |
| Fri, 29 Sep 2023 | CN¥232.7b | CN¥239.8b | CN¥9.7b | 28.4x | 24.1x | 1x |
| Sun, 27 Aug 2023 | CN¥215.5b | CN¥237.5b | CN¥9.9b | 29.2x | 21.8x | 0.9x |
| Tue, 25 Jul 2023 | CN¥223.8b | CN¥239.3b | CN¥9.6b | 29.6x | 23.4x | 0.9x |
| Thu, 22 Jun 2023 | CN¥209.8b | CN¥239.8b | CN¥9.7b | 29.3x | 21.7x | 0.9x |
| Sat, 20 May 2023 | CN¥220.6b | CN¥239.8b | CN¥10.7b | 30.7x | 20.7x | 0.9x |
| Mon, 17 Apr 2023 | CN¥235.2b | CN¥217.4b | CN¥8.1b | 49x | 28.9x | 1.1x |
| Wed, 15 Mar 2023 | CN¥222.7b | CN¥233.4b | CN¥6.7b | 52.7x | 33.2x | 1x |
| Fri, 10 Feb 2023 | CN¥231.7b | CN¥233.3b | CN¥6.8b | 51.5x | 34.3x | 1x |
| Sun, 08 Jan 2023 | CN¥213.0b | CN¥233.3b | CN¥6.8b | 42.2x | 31.5x | 0.9x |
| Tue, 06 Dec 2022 | CN¥232.2b | CN¥233.3b | CN¥6.8b | 44.4x | 34.3x | 1x |
| Thu, 03 Nov 2022 | CN¥210.1b | CN¥233.2b | CN¥6.8b | 42.4x | 31.1x | 0.9x |
| Sat, 01 Oct 2022 | CN¥206.6b | CN¥229.0b | CN¥6.3b | 41.5x | 33x | 0.9x |
| Mon, 29 Aug 2022 | CN¥229.4b | CN¥221.5b | CN¥5.9b | 46.3x | 39x | 1x |
| Wed, 27 Jul 2022 | CN¥207.9b | CN¥217.9b | CN¥5.4b | 44.6x | 38.4x | 1x |
| Fri, 24 Jun 2022 | CN¥208.1b | CN¥217.9b | CN¥5.4b | 47.6x | 38.4x | 1x |
| Sun, 22 May 2022 | CN¥196.3b | CN¥217.9b | CN¥5.4b | 43.7x | 36.2x | 0.9x |
| Tue, 19 Apr 2022 | CN¥207.0b | CN¥205.1b | CN¥5.5b | 36.2x | 37.8x | 1x |
| Thu, 17 Mar 2022 | CN¥213.0b | CN¥202.5b | CN¥6.1b | 33.4x | 34.6x | 1.1x |
| Sat, 12 Feb 2022 | CN¥232.8b | CN¥201.5b | CN¥6.2b | 35.3x | 37.3x | 1.2x |
| Mon, 10 Jan 2022 | CN¥234.1b | CN¥199.9b | CN¥6.2b | 31.7x | 37.8x | 1.2x |
| Wed, 08 Dec 2021 | CN¥219.2b | CN¥199.9b | CN¥6.2b | 31.1x | 35.4x | 1.1x |
| Fri, 05 Nov 2021 | CN¥213.6b | CN¥199.9b | CN¥6.2b | 32x | 34.5x | 1.1x |
| Sun, 03 Oct 2021 | CN¥230.8b | CN¥193.4b | CN¥5.9b | 29.8x | 38.9x | 1.2x |
| Tue, 31 Aug 2021 | CN¥211.9b | CN¥193.4b | CN¥5.9b | 28.1x | 35.7x | 1.1x |
Price to Earnings Ratio
35.7x
Current Industry PE
- Investors are pessimistic on the Chinese Energy Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 16.7x which is lower than its 3-year average PE of 29.1x.
- The industry is trading close to its 3-year average PS ratio of 0.97x.
Past Earnings Growth
- The earnings for companies in the Energy Services industry have grown 25% per year over the last three years.
- Revenues for these companies have grown 8.0% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Chinese Energy industry?
| CN Market | -2.33% | |
| Energy | -3.55% | |
| Energy Services | -3.90% | |
| Oil and Gas Services | -3.87% | |
| Oil and Gas Drilling | -7.50% | |
Industry PE
- Investors are most optimistic about the Oil and Gas Drilling industry which is trading above its 3-year average PE ratio of 13.2x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Oil and Gas Services industry, which is trading below its 3-year average of 28.5x.
Forecasted Growth
- Analysts are most optimistic on the Oil and Gas Services industry, expecting annual earnings growth of 16% over the next 5 years.
- This is better than its past earnings growth rate of 8.0% per year.
- In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 16% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 300471 Houpu Clean Energy Group | CN¥9.06 | 7.9% +CN¥266.7m | -29.3% | PS5.2x |
