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TBEA Co., Ltd.

TBEA Co., Ltd.

600089.SS
TBEA Co., Ltd.CN flagShanghai Stock Exchange
20.65
CNY
-0.70
- -
103.67BMarket Cap
TBEA Co., Ltd.
600089.SS
(Shanghai Stock Exchange)

Recent

price

20.65

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
6.63
4.82
5.39
8.22
8.51
8.57
9.58
8.2
7.31
6.63
8.14
13.77
25.02
21.92
18.85
18.98
14.8
Revenue per Share
0.6
0.33
0.26
0.37
0.39
0.43
0.52
0.47
0.38
0.36
0.45
1.45
4.13
2.39
0.8
1.16
0.77
Basic EPS, GAAP
-0.08
-0.64
-0.89
-0.24
-0.71
-0.17
-0.52
-0.44
-0.3
-0.73
-0.38
0.03
0.6
1.54
-0.83
-2.49
-4.43
Free Cash Flow per Basic Share
0.11
0.1
0.21
0.29
0.3
0.31
0.36
0.33
0.37
0.38
0.41
0.52
1.02
1.31
0.46
0.51
0.22
Dividend per Share
2.29
2.02
2.2
2.61
2.6
2.81
3.28
3.33
3.03
3.11
3.42
4.96
9.9
10.07
9.19
10.15
10.73
Book Value per Share
4.28
3.19
3.37
3.78
4.09
4.87
5.73
6.56
6.4
7.09
7.76
11.16
19.55
18.43
16.28
18.29
17.88
Tangible Book Value per Share
2,682
3,772
3,772
3,550
4,238
4,371
4,187
4,667
5,428
5,589
5,484
5,013
3,857
4,480
5,193
5,129
5,021
Basic Weighted Avg Shares
17,770
18,165
20,325
29,175
36,075
37,452
40,117
38,281
39,656
37,030
44,669
69,032
96,510
98,206
97,906
97,318
74,309
Sales/Revenue/Turnover
10.43
7.08
5.62
6.83
7.78
7.89
7.93
10.34
9.14
8.38
9.09
19.19
30.53
19.42
9.36
8.81
9.29
Operating Margin (%)
375
447
576
787
1,174
1,226
1,330
1,464
1,790
2,010
2,560
3,660
4,300
4,901
5,825
6,506
- -
Depreciation Expense
1,611
1,229
981
1,328
1,649
1,888
2,190
2,196
2,048
2,018
2,448
7,255
15,914
10,703
4,144
5,954
3,868
Net Income, GAAP
10.1
11.05
11.52
11.28
11.68
14.51
16.19
13.66
9.08
14.96
12.71
14.66
13.9
16.61
28.35
25.47
25.48
Effective Tax Rate (%)
9.07
6.77
4.82
4.55
4.57
5.04
5.46
5.74
5.16
5.45
5.48
10.51
16.49
10.9
4.23
6.12
5.21
Profit Margin (%)
5,569
6,320
5,727
3,313
6,580
8,146
6,912
11,310
12,351
16,598
12,074
18,814
11,801
13,383
10,726
11,177
17,009
Working Capital
1,092
4,557
8,601
9,038
7,977
7,947
9,677
11,705
14,193
22,430
21,463
26,115
25,206
33,359
34,655
39,050
46,702
LT Debt
12,656
14,053
14,896
15,952
21,020
24,669
27,417
34,020
39,049
43,016
46,540
60,522
80,420
87,732
90,307
100,854
104,825
Total Equity
13.22
6.52
4.29
6.3
7.57
6.49
5.95
6.69
5.57
3.9
4.78
13.22
24.31
13.03
4.98
4.5
3.42
Return on Invested Capital (%)
19.68
11.93
7.18
7.53
8.52
8.18
6.78
5.77
5.52
4.98
5.11
8.3
12.06
8.26
5.13
5.77
3.47
Return on Capital (%)
30.03
17.88
12.31
15.13
16.28
16.22
16.85
15.01
12.81
11.93
13.53
33.25
50.5
25.71
8.93
11.93
7.5
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
10,855
9,770
LT Borrowings
- -
38,618
46,225
LT Finance Leases
- -
433
477
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
5,053
5,053
Market Capitalization
89,373
111,566
133,052

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
87,937
96,883
Cash, Cash Equivalents & STI
- -
25,959
28,044
Accounts Receivable, Net
- -
19,515
23,031
Inventories
- -
21,388
22,836
Total Current Liabilities
- -
76,761
79,874
Payables & Accruals
- -
- -
- -
ST Debt
- -
10,855
9,770
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
15.5%
17.33%
11.68%
Free Cash Flow
166.54%
277.88%
197.26%
Net Income, GAAP
29.48%
53.07%
43.69%
Sales/Revenue/Turnover
11.53%
19.04%
-0.6%
Total Cash Common Dividend
12.08%
13.06%
7.82%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
23,563
24,279
24,499
25,526
97,906
2025
23,383
25,018
- -
24,330
97,318
2026
24,961
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.4
- -
- -
- -
0.8
2025
0.32
- -
- -
- -
1.16
2026
0.36
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.1
- -
- -
- -
0.46
2025
0.06
- -
- -
- -
0.51
2026
0.08
- -
- -
- -
- -
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Business
TBEA Co., Ltd. (600089.SS) manufactures and supplies power transmission and transformation equipment, renewable energy solutions, new materials, and comprehensive energy services globally. The company produces transformers, switches, electric wires and cables, cable accessories, integrated substation automation products, smart distribution grids, charging facilities, power control systems, photovoltaic products, polycrystalline silicon, inverters, alloy materials including alloy rods and aluminum alloy products, electronic aluminum foils, heat-insulated aluminum profiles, and high-purity aluminum materials; it also engages in coal mining, UHV DC and AC engineering construction, electricity generation from nuclear, thermal, hydro, wind, and solar resources, and supplies DC converter transformers, HV contact changers, dry flat wave reactors, and other core transmission equipment. Founded in 1993 and headquartered in Changji, Xinjiang Uyghur Autonomous Region, China, TBEA operates in over 100 countries with manufacturing bases including in India, and maintains offices across China and international markets serving power utilities, industrial customers, and renewable energy developers. Recent developments include the acquisition of a 74.1942% stake in Shuguang Cable for RMB 946 million to bolster cable production capabilities, plans to raise up to RMB 8 billion for project funding announced in August 2025, a 2023 joint venture with a leading solar energy provider targeting RMB 1 billion in revenue by 2025 through solar technology advancements, and market expansions into three new Southeast Asian countries to drive 15% market share growth.