Narrative Update • Jun 16
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- 7D0.7%
- 3M-5.5%
- 1Y28.5%
- YTD17.4%
Over the last 7 days, the Oil and Gas industry has remained flat, although notably China Merchants Energy Shipping gained 28%. The past year has been better, since the industry has gained 28% in that time. As for the next few years, earnings are expected to grow by 17% per annum.
Industry Valuation and Performance
Has the Chinese Oil and Gas Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 24 Jun 2026 | CN¥1.1t | CN¥667.4b | CN¥44.9b | 26.5x | 23.5x | 1.6x |
| Fri, 22 May 2026 | CN¥1.0t | CN¥667.4b | CN¥44.9b | 27.2x | 23.3x | 1.6x |
| Sun, 19 Apr 2026 | CN¥1.1t | CN¥690.4b | CN¥47.5b | 25x | 22.5x | 1.5x |
| Tue, 17 Mar 2026 | CN¥1.1t | CN¥686.6b | CN¥46.3b | 28.1x | 24.3x | 1.6x |
| Thu, 12 Feb 2026 | CN¥986.9b | CN¥695.2b | CN¥47.4b | 24.6x | 20.8x | 1.4x |
| Sat, 10 Jan 2026 | CN¥925.6b | CN¥695.3b | CN¥47.4b | 23.4x | 19.5x | 1.3x |
| Mon, 08 Dec 2025 | CN¥890.9b | CN¥695.2b | CN¥47.3b | 22.8x | 18.8x | 1.3x |
| Wed, 05 Nov 2025 | CN¥922.7b | CN¥695.9b | CN¥47.5b | 24.3x | 19.4x | 1.3x |
| Fri, 03 Oct 2025 | CN¥834.1b | CN¥714.6b | CN¥52.5b | 18.8x | 15.9x | 1.2x |
| Sun, 31 Aug 2025 | CN¥813.6b | CN¥717.6b | CN¥52.5b | 19.4x | 15.5x | 1.1x |
| Tue, 29 Jul 2025 | CN¥823.6b | CN¥742.2b | CN¥61.3b | 14.9x | 13.4x | 1.1x |
| Thu, 26 Jun 2025 | CN¥775.8b | CN¥745.2b | CN¥61.0b | 14.3x | 12.7x | 1x |
| Sat, 24 May 2025 | CN¥790.6b | CN¥745.1b | CN¥61.0b | 13.3x | 13x | 1.1x |
| Mon, 21 Apr 2025 | CN¥775.6b | CN¥750.7b | CN¥69.3b | 10.6x | 11.2x | 1x |
| Wed, 19 Mar 2025 | CN¥804.8b | CN¥758.0b | CN¥68.9b | 11.7x | 11.7x | 1.1x |
| Fri, 14 Feb 2025 | CN¥811.2b | CN¥758.1b | CN¥68.7b | 12.1x | 11.8x | 1.1x |
| Sun, 12 Jan 2025 | CN¥811.9b | CN¥757.6b | CN¥68.3b | 11.6x | 11.9x | 1.1x |
| Tue, 10 Dec 2024 | CN¥906.4b | CN¥757.7b | CN¥68.3b | 13.1x | 13.3x | 1.2x |
| Thu, 07 Nov 2024 | CN¥897.0b | CN¥756.0b | CN¥68.4b | 12.9x | 13.1x | 1.2x |
| Sat, 05 Oct 2024 | CN¥967.7b | CN¥762.3b | CN¥72.8b | 13.7x | 13.3x | 1.3x |
| Mon, 02 Sep 2024 | CN¥846.6b | CN¥762.4b | CN¥71.7b | 12.4x | 11.8x | 1.1x |
| Wed, 31 Jul 2024 | CN¥833.8b | CN¥776.7b | CN¥76.8b | 12.5x | 10.9x | 1.1x |
| Fri, 28 Jun 2024 | CN¥950.1b | CN¥776.7b | CN¥76.8b | 13.2x | 12.4x | 1.2x |
| Sun, 26 May 2024 | CN¥1.0t | CN¥776.7b | CN¥76.8b | 14.1x | 13.2x | 1.3x |
| Tue, 23 Apr 2024 | CN¥1.0t | CN¥812.1b | CN¥86.8b | 12.3x | 12x | 1.3x |
| Thu, 21 Mar 2024 | CN¥970.7b | CN¥838.4b | CN¥99.7b | 12.7x | 9.7x | 1.2x |
| Sat, 17 Feb 2024 | CN¥923.3b | CN¥836.7b | CN¥100.0b | 11.4x | 9.2x | 1.1x |
| Mon, 15 Jan 2024 | CN¥921.5b | CN¥837.3b | CN¥100.0b | 11.5x | 9.2x | 1.1x |
| Wed, 13 Dec 2023 | CN¥881.8b | CN¥837.2b | CN¥100.0b | 11.6x | 8.8x | 1.1x |
| Fri, 10 Nov 2023 | CN¥826.6b | CN¥836.8b | CN¥99.9b | 11.1x | 8.3x | 1x |
| Sun, 08 Oct 2023 | CN¥844.9b | CN¥875.7b | CN¥108.5b | 9.7x | 7.8x | 1x |
| Tue, 05 Sep 2023 | CN¥830.3b | CN¥875.4b | CN¥110.1b | 9.7x | 7.5x | 0.9x |
| Thu, 03 Aug 2023 | CN¥792.8b | CN¥908.0b | CN¥136.3b | 9.1x | 5.8x | 0.9x |
| Sat, 01 Jul 2023 | CN¥798.6b | CN¥907.6b | CN¥135.3b | 8.2x | 5.9x | 0.9x |
Price to Earnings Ratio
5.9x
Current Industry PE
- Investors are optimistic on the Chinese Oil and Gas industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 23.5x which is higher than its 3-year average PE of 13.4x.
- The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
- The earnings for companies in the Oil and Gas industry have declined 31% per year over the last three years,
- Revenues have also declined 9.7% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Chinese Energy industry?
| CN Market | 0.70% | |
| Energy | 1.30% | |
| Oil and Gas | 0.66% | |
| Oil and Gas Storage and Transportation | 13.19% | |
| Oil and Gas Exploration and Production | 3.55% | |
| Oil and Gas Refining and Marketing | -2.31% | |
| Coal and Fuels | -3.01% | |
| Integrated Oil and Gas | -7.64% | |
Industry PE
- Investors are most optimistic about the Integrated Oil and Gas industry which is trading above its 3-year average PE ratio of 19.0x.
- 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 Storage and Transportation industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 15.6x.
Forecasted Growth
- Analysts are most optimistic on the Oil and Gas Refining and Marketing industry, expecting annual earnings growth of 52% over the next 5 years.
- This is better than its past earnings decline of 12% per year.
- In contrast, the Oil and Gas Storage and Transportation industry is expected to see its earnings grow by 14% 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 | |
|---|---|---|---|---|---|
| 601872 China Merchants Energy Shipping | CN¥21.91 | 28.1% +CN¥38.8b | 253.4% | PE22.4x | |
| 600397 Jiangxi Tungsten Rare And Precious Equipment | CN¥25.51 | 38.9% +CN¥7.1b | 316.8% | PS14.4x | |
| 600777 Shandong Xinchao Energy | CN¥5.46 | 15.2% +CN¥4.9b | n/a | PE48.9x | |
| 900948 Inner Mongolia Yitai CoalLtd | US$2.72 | 5.9% +US$442.3m | 36.0% | PE10.5x | |
| 002128 Inner Mongolia Dian Tou Energy | CN¥25.30 | 3.9% +CN¥2.8b | 29.5% | PE12.7x |