Kweichow Moutai Co., Ltd.

¥1,453As of Sun 8 Nov 2026, 12:00 UTC

SSE:600519Consumer Staples

Country China

PE (Fwd) •••

TSR 10Y CAGR 18.85%

Div yield 3.58%

ROE 31.18%

Beverages (Wineries & Distilleries)

Beta (5Y) 0.29

PE TTM 22.13

TSR TTM 5.78%

Mkt cap ¥1.816T

ROIC 37.71%

SE Grade™

Value

Quality

Moat

Consensus

Reference

¥1,494

2.80%

123.05%

Buy 1|0|10|12|4

TTM

FYE 31 Dec CNY

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

722.0

Revenue¥B

411.4

437.7

476.4

506.8

542.1

589.0

627.4

678.3

715.4

762.5

808.1

7.06%

6.82%

13.01

Revenue growth%

1.09

1.70

0.55

0.40

2.77

4.76

7.74

6.37

4.50

5.10

10.24

5.10

3.64

23.11

Gross margin%

11.23

9.88

11.96

13.74

14.24

11.62

10.84

13.10

12.80

9.87

9.86

11.62

11.79

5.77

Operating margin%

0.40

3.23

4.82

2.54

0.40

1.65

0.40

9.73

0.40

16.72

Net margin%

23.03

20.89

22.35

21.76

24.60

24.00

25.83

28.16

28.33

25.90

11.62

25.90

24.30

6.795

P/E ratio (avg)x

21.73

18.80

19.29

16.66

16.24

14.84

15.20

13.10

12.93

12.79

29.42

13.10

15.72

16.68

EV/EBITx

8.962

10.03

9.818

9.198

10.39

9.737

11.21

10.25

10.56

9.688

34.19

10.25

9.922

21.81

FCF yield (avg)%

16.36

15.92

17.95

16.95

14.35

13.72

11.67

13.84

12.10

10.43

27.00

12.10

14.10

23.66

FCF margin%

11.41

11.52

13.52

14.05

15.20

13.47

14.43

16.61

15.77

13.05

17.83

14.43

13.79

1.751

FCF / Net incomex

0.823

0.730

0.709

0.724

0.745

0.639

0.566

0.529

0.525

0.540

1.572

0.540

0.674

7.37

ROIC%

12.66

14.90

17.47

14.70

15.74

15.57

13.67

16.41

16.54

19.32

4.61

16.41

15.65

22.29

Return on equity%

4.23

6.43

5.95

5.16

3.99

5.67

7.05

6.47

6.44

7.39

22.85

6.47

6.19

29.59

Return on assets%

11.71

14.30

13.13

10.93

12.49

10.47

12.92

13.45

15.95

15.97

18.94

13.45

13.02

112.86

EPS¥

50.08

49.65

51.21

50.59

53.74

59.43

65.07

57.53

60.31

59.17

120.53

1.94%

1.20%

—

27.12

EPS growth%

10.83

11.06

9.86

7.79

7.49

5.93

7.51

8.43

11.16

12.80

29.68

8.43

9.14

72.86

Bookvalue per sh¥

88.76

78.22

83.12

87.61

80.30

80.56

81.68

82.12

74.79

70.79

103.43

(2.49%)

(2.61%)

—

91.12

FCF per share¥

179.89

181.67

174.15

173.89

159.65

175.34

166.39

171.53

152.57

138.97

201.18

(2.74%)

(3.37%)

—

147.34

Dividend per sh¥

211.45

225.66

239.95

246.93

261.15

237.82

241.67

269.71

257.84

263.48

142.27

0.18%

2.57%

—

10.82

Div yield (avg)%

28.10

29.99

27.43

25.34

24.60

24.97

27.50

25.54

23.85

24.39

7.94

24.97

25.44

27.84

Payout ratio%

24.71

26.25

28.31

28.36

27.82

26.24

24.58

26.70

25.00

24.96

15.81

25.00

26.25

1.282

Shares (diluted)B

1.475

1.448

1.431

1.336

1.376

1.387

1.317

1.313

1.355

1.411

1.229

0.50%

(0.62%)

2.38

Buyback yield%

23.57

24.26

23.26

20.81

18.99

19.10

20.38

18.10

18.75

20.06

12.24

19.10

20.22

1.323

D/E ratiox

0.793

0.875

1.027

1.233

1.329

1.298

1.262

1.263

1.264

1.329

1.493

1.264

1.262

113.8

Enterprise value¥B

226.4

194.5

201.5

199.1

188.1

182.1

160.2

168.7

157.3

157.7

137.6

(3.46%)

(3.94%)

442.9

LT debt¥B

277.5

268.3

312.2

324.5

327.3

332.8

357.4

397.6

400.2

466.3

44.86

7.34%

5.76%

Peers (US$272.3B)

Cap (US$)

Wuliangye Yibin Co.…

43.84B

23.97x

Shanxi Xinghuacun Fen…

24.14B

17.55x

Luzhou Laojiao Co.,Ltd

17.91B

20.82x

Nestlé S.A.

270.8B

29.69x

Capital

TTM

10Y

Leveragex

0.693

0.409

0.348

EBIT/Intx

0.683

0.114

0.117

Own earn%

33.65

23.51

20.78

Sh yield%

13.20

44.07

45.30

Owners

Insiders/Inst%

14.32

89.22

Short interest%

2.16

SBC / revenue%

2.71

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

0–5

$1 testx

—

Incr. ROIC%

Kweichow Moutai Co., Ltd., a subsidiary of China Kweichow Moutai Distillery (Group) Co., Ltd., produces and sells liquor and soy sauce products in China and internationally under brands including Kweichow Moutai, Moutai Wangzi, Moutai 1935, Han Jiang and Lai Mao. It also produces beverages, food and packaging materials, develops anti-counterfeiting technology, and operates hotel, catering and vehicle transportation services.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

¥762.5B

6.82%

1.00×

Cost of revenue

¥496.1B

6.84%

1.00×

Operating expenses

¥119.2B

6.66%

0.99×