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First Tractor SEHK:38 Stock Report

Last Price

HK$5.65

Market Cap

HK$12.5b

7D

-8.9%

1Y

-24.2%

Updated

17 Apr, 2025

Data

Company Financials +

First Tractor Company Limited

SEHK:38 Stock Report

Market Cap: HK$12.5b

38 Stock Overview

Engages in the research and development, manufacture, and sale of agricultural and power machinery, and related products worldwide. More details

38 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance2/6
Financial Health6/6
Dividends4/6

Rewards

Price-To-Earnings ratio (6.5x) is below the Hong Kong market (10.4x)

Earnings are forecast to grow 13.94% per year

Trading at good value compared to peers and industry

Risk Analysis

Unstable dividend track record


First Tractor Company Limited Competitors

CIMC Enric Holdings

SEHK:3899

HK$12.0b

Sany Heavy Equipment International Holdings

SEHK:631

HK$16.9b

Lonking Holdings

SEHK:3339

HK$8.0b

Haitian International Holdings

SEHK:1882

HK$27.4b

Price History & Performance

Summary of share price highs, lows and changes for First Tractor
Historical stock prices
Current Share PriceHK$5.65
52 Week HighHK$10.40
52 Week LowHK$5.47
Beta1.1
1 Month Change-19.86%
3 Month Change-21.09%
1 Year Change-24.16%
3 Year Change43.40%
5 Year Change279.19%
Change since IPO11.88%

Recent News & Updates

Should You Think About Buying First Tractor Company Limited (HKG:38) Now?

Mar 19
Should You Think About Buying First Tractor Company Limited (HKG:38) Now?

Recent updates

Should You Think About Buying First Tractor Company Limited (HKG:38) Now?

Mar 19
Should You Think About Buying First Tractor Company Limited (HKG:38) Now?

First Tractor's (HKG:38) Profits Appear To Have Quality Issues

Nov 05
First Tractor's (HKG:38) Profits Appear To Have Quality Issues

Sentiment Still Eluding First Tractor Company Limited (HKG:38)

Oct 25
Sentiment Still Eluding First Tractor Company Limited (HKG:38)

Returns On Capital Are Showing Encouraging Signs At First Tractor (HKG:38)

Oct 03
Returns On Capital Are Showing Encouraging Signs At First Tractor (HKG:38)

Potential Upside For First Tractor Company Limited (HKG:38) Not Without Risk

Jul 27
Potential Upside For First Tractor Company Limited (HKG:38) Not Without Risk

First Tractor (HKG:38) Shareholders Will Want The ROCE Trajectory To Continue

May 13
First Tractor (HKG:38) Shareholders Will Want The ROCE Trajectory To Continue

Investors Still Aren't Entirely Convinced By First Tractor Company Limited's (HKG:38) Earnings Despite 34% Price Jump

Apr 28
Investors Still Aren't Entirely Convinced By First Tractor Company Limited's (HKG:38) Earnings Despite 34% Price Jump

Is First Tractor (HKG:38) Using Too Much Debt?

Apr 17
Is First Tractor (HKG:38) Using Too Much Debt?

We Think You Should Be Aware Of Some Concerning Factors In First Tractor's (HKG:38) Earnings

Apr 03
We Think You Should Be Aware Of Some Concerning Factors In First Tractor's (HKG:38) Earnings

Here's Why We Think First Tractor (HKG:38) Might Deserve Your Attention Today

Mar 20
Here's Why We Think First Tractor (HKG:38) Might Deserve Your Attention Today

First Tractor Company Limited's (HKG:38) Shares Leap 25% Yet They're Still Not Telling The Full Story

Feb 19
First Tractor Company Limited's (HKG:38) Shares Leap 25% Yet They're Still Not Telling The Full Story

Is There Now An Opportunity In First Tractor Company Limited (HKG:38)?

Jan 31
Is There Now An Opportunity In First Tractor Company Limited (HKG:38)?

First Tractor (HKG:38) Has A Rock Solid Balance Sheet

Jan 16
First Tractor (HKG:38) Has A Rock Solid Balance Sheet

We Ran A Stock Scan For Earnings Growth And First Tractor (HKG:38) Passed With Ease

Nov 28
We Ran A Stock Scan For Earnings Growth And First Tractor (HKG:38) Passed With Ease

First Tractor (HKG:38) Is Experiencing Growth In Returns On Capital

Aug 30
First Tractor (HKG:38) Is Experiencing Growth In Returns On Capital

We Like These Underlying Return On Capital Trends At First Tractor (HKG:38)

May 04
We Like These Underlying Return On Capital Trends At First Tractor (HKG:38)

There's Been No Shortage Of Growth Recently For First Tractor's (HKG:38) Returns On Capital

Sep 30
There's Been No Shortage Of Growth Recently For First Tractor's (HKG:38) Returns On Capital

Is First Tractor (HKG:38) Using Too Much Debt?

Apr 28
Is First Tractor (HKG:38) Using Too Much Debt?

The Return Trends At First Tractor (HKG:38) Look Promising

Jan 05
The Return Trends At First Tractor (HKG:38) Look Promising

First Tractor (HKG:38) Seems To Use Debt Rather Sparingly

Dec 13
First Tractor (HKG:38) Seems To Use Debt Rather Sparingly

Investors Will Want First Tractor's (HKG:38) Growth In ROCE To Persist

Aug 13
Investors Will Want First Tractor's (HKG:38) Growth In ROCE To Persist

With EPS Growth And More, First Tractor (HKG:38) Is Interesting

Jul 26
With EPS Growth And More, First Tractor (HKG:38) Is Interesting

First Tractor (HKG:38) Could Easily Take On More Debt

May 30
First Tractor (HKG:38) Could Easily Take On More Debt

Investors Will Want First Tractor's (HKG:38) Growth In ROCE To Persist

May 11
Investors Will Want First Tractor's (HKG:38) Growth In ROCE To Persist

The Case For First Tractor Company Limited (HKG:38): Could It Be A Nice Addition To Your Dividend Portfolio?

Apr 26
The Case For First Tractor Company Limited (HKG:38): Could It Be A Nice Addition To Your Dividend Portfolio?

Shareholder Returns

38HK MachineryHK Market
7D-8.9%1.5%4.0%
1Y-24.2%-21.2%18.4%

Return vs Industry: 38 underperformed the Hong Kong Machinery industry which returned -21.2% over the past year.

Return vs Market: 38 underperformed the Hong Kong Market which returned 18.4% over the past year.

Price Volatility

Is 38's price volatile compared to industry and market?
38 volatility
38 Average Weekly Movement6.2%
Machinery Industry Average Movement8.0%
Market Average Movement7.9%
10% most volatile stocks in HK Market15.1%
10% least volatile stocks in HK Market4.2%

Stable Share Price: 38 has not had significant price volatility in the past 3 months compared to the Hong Kong market.

Volatility Over Time: 38's weekly volatility (6%) has been stable over the past year.

Community vs My Fair Value

Select a narrative for quick price alerts from the community, or create your own.

About the Company

FoundedEmployeesCEOWebsite
19556,891Tao Weiwww.first-tractor.com.cn

First Tractor Company Limited engages in the research and development, manufacture, and sale of agricultural and power machinery, and related products worldwide. It offers wheeled and crawler tractors; and off-road diesel engines, its components, such as castings, forgings, gears, gear boxes, and covers, and cylinder blocks, crankshafts, oil injection pumps, and oil injection nozzles, as well as fuel injection pumps and fuel engines. The company was formerly known as First Tractor Works of China.

First Tractor Company Limited Fundamentals Summary

How do First Tractor's earnings and revenue compare to its market cap?
38 fundamental statistics
Market capHK$12.47b
Earnings (TTM)HK$980.52m
Revenue (TTM)HK$12.66b

6.5x

P/E Ratio

0.5x

P/S Ratio

Is 38 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
38 income statement (TTM)
RevenueCN¥11.90b
Cost of RevenueCN¥10.15b
Gross ProfitCN¥1.76b
Other ExpensesCN¥837.13m
EarningsCN¥922.02m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

Apr 28, 2025

Earnings per share (EPS)0.82
Gross Margin14.78%
Net Profit Margin7.75%
Debt/Equity Ratio3.7%

How did 38 perform over the long term?

See historical performance and comparison

Dividends

6.0%

Current Dividend Yield

35%

Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/17 00:36
End of Day Share Price 2025/04/17 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Tractor Company Limited is covered by 13 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tingting LiBNP Paribas Securities (Asia)
Qianyu NingBohai Securities Co., Ltd.
Wei LuoChina International Capital Corporation Limited