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China Tourism Group Duty Free Corporation Limited 601888.SS

CN · Shanghai Stock Exchange · XSHG · stock · Consumer Cyclical · website

China Tourism Group Duty Free Corporation Limited statistics & valuation

Market capCN¥112.3B
P / E31.3×
P / S2.1×
P / B2.0×
P / FCF23.5×
Net margin6.7%
FCF margin8.9%
Net cashCN¥28.8B
Enterprise value USD$11.4B
Earnings yield EBIT/EV6.5%
Return on capital8.3%
Graham number -38.4%CN¥33.29

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (CN¥33.29); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
9.20% 9.90% 7.60% 6.70% 2022202320242025
Gross margin (%)
28.40% 31.80% 32.00% 32.80% 2022202320242025
Operating margin (%)
15.20% 12.30% 10.50% 10.10% 2022202320242025
Return on equity (%)
10.40% 12.50% 7.70% 6.50% 2022202320242025
Shares outstanding
1.95B 1.95B 1.95B 1.95B 2022202320242025
Net debt (CN¥)
-CN¥20.04B -CN¥26.46B -CN¥29.66B -CN¥28.75B 2022202320242025
Share buybacks (CN¥)
2022202320242025
Return on assets (%)
6.60% 8.50% 5.60% 4.80% 2022202320242025
Free cash flow margin (%)
-11.80% 19.70% 12.10% 8.90% 2022202320242025
Debt / equity (×)
0.14× 0.10× 0.09× 0.09× 2022202320242025
EPS (CN¥)
CN¥2.53 CN¥3.25 CN¥2.06 CN¥1.73 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

China Tourism Group Duty Free Corporation Limited trades at about 31.2× earnings — below its 10-year norm (10-year range 24.6×–84×, median 51.6×).

24.6× 84×

Shaded band = 10-year range (24.6×–84×); dot = today's 31.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin32.8%32.0%31.8%28.4%
Operating margin10.1%10.5%12.3%15.2%
Net margin6.7%7.6%9.9%9.2%
FCF margin8.9%12.1%19.7%-11.8%
Return on assets4.8%5.6%8.5%6.6%
Return on equity6.5%7.7%12.5%10.4%
Debt / equity0.05×0.05×0.05×0.05×
Current ratio5.835.103.813.27

Computed from company filings · CN · as of 2025-12-31. Figures in CNY. Facts plus Stocktoria's own computed scores — not investment advice.