1. People's Republic of China Stocks

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    Consumer Cyclical

  3. •

    Auto - Parts
Fuyao Glass Industry Group Co., Ltd.

Fuyao Glass Industry Group Co., Ltd.

600660.SS
Fuyao Glass Industry Group Co., Ltd.CN flagShanghai Stock Exchange
53.78
CNY
+2.85
- -
140.35BMarket Cap
Fuyao Glass Industry Group Co., Ltd.
600660.SS
(Shanghai Stock Exchange)

Recent

price

53.78

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
4.24
4.87
5.11
5.76
6.46
5.73
6.61
7.49
8.05
8.45
7.96
9.23
10.75
12.72
15.02
17.55
13.28
Revenue per Share
0.89
0.76
0.76
0.96
1.11
1.1
1.25
1.26
1.64
1.16
1.04
1.23
1.82
2.16
2.87
3.57
2.6
Basic EPS, GAAP
0.52
0.18
0.47
0.48
0.18
-0.1
0.03
0.53
0.88
0.94
1.4
1.31
1.06
1.21
1.18
2.26
-1.69
Free Cash Flow per Basic Share
0.24
0.65
0.5
0.61
0.62
0.72
0.81
0.84
1.31
0.92
0.89
0.89
1.11
1.38
1.42
2.8
2.77
Dividend per Share
2.51
2.67
2.96
3.36
3.87
3.85
4.01
4.35
4.64
4.94
5.12
5.42
5.97
6.76
8.13
8.78
9.49
Book Value per Share
2.63
2.87
3.14
3.47
3.87
6.4
6.69
7.05
7.49
8
8.11
9.78
10.6
11.53
13.02
13.68
14.32
Tangible Book Value per Share
2,009
1,990
2,006
1,997
2,000
2,369
2,515
2,499
2,512
2,499
2,501
2,558
2,613
2,606
2,613
2,608
2,593
Basic Weighted Avg Shares
8,508
9,689
10,247
11,501
12,928
13,573
16,621
18,713
20,225
21,104
19,907
23,603
28,099
33,161
39,252
45,787
34,436
Sales/Revenue/Turnover
25.26
20.02
20.18
21.78
22.06
20.28
20.5
21.99
20.51
16.16
18.35
18.72
17.12
19.09
21.88
22.69
22.73
Operating Margin (%)
597
667
753
796
794
912
1,107
1,215
1,447
1,842
1,987
2,010
2,086
2,223
2,392
2,723
- -
Depreciation Expense
1,788
1,513
1,525
1,918
2,220
2,605
3,144
3,149
4,120
2,898
2,601
3,146
4,756
5,629
7,498
9,312
6,735
Net Income, GAAP
11.14
14.65
18.14
19.42
15.98
14.3
19.82
14.44
17.23
10.3
16.44
17.7
14.81
16.18
16.54
16.53
14.93
Effective Tax Rate (%)
21.01
15.61
14.88
16.67
17.17
19.19
18.92
16.83
20.37
13.73
13.06
13.33
16.92
16.98
19.1
20.34
19.56
Profit Margin (%)
-5
176
-77
458
208
5,448
5,259
4,930
3,162
2,988
6,428
9,964
12,318
18,434
18,414
13,779
18,650
Working Capital
832
1,122
880
918
1,213
848
1,574
2,510
1,456
1,764
3,694
2,845
3,484
8,920
7,557
4,048
7,591
LT Debt
5,842
6,232
6,975
7,846
8,803
16,415
18,039
18,798
20,190
21,369
21,591
26,294
28,988
31,411
35,686
37,552
39,138
Total Equity
26.65
18.36
17.42
20.18
19.88
13.54
11.7
13.48
12.26
9.86
9.38
10.54
10.5
12.12
14.67
16.28
11.6
Return on Invested Capital (%)
29.93
20.71
19.83
23.92
22.79
21.43
21.42
18.63
22.94
15.04
12.43
14.46
19.42
19.76
22.62
25.2
16.55
Return on Capital (%)
40.77
29.21
27.11
30.32
30.71
30.93
32.77
30.07
36.59
24.16
20.68
23.59
32.29
33.89
38.6
42.2
28.13
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
12,842
12,834
LT Borrowings
- -
3,669
7,293
LT Finance Leases
- -
379
297
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
2,610
2,610
Market Capitalization
191,030
168,547
147,815

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
39,345
42,235
Cash, Cash Equivalents & STI
- -
19,285
21,928
Accounts Receivable, Net
- -
8,478
6,360
Inventories
- -
6,799
6,746
Total Current Liabilities
- -
25,566
23,585
Payables & Accruals
- -
- -
- -
ST Debt
- -
12,842
12,834
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.76%
11.85%
5.23%
Free Cash Flow
189.57%
16.21%
91.18%
Net Income, GAAP
15.96%
29.58%
24.2%
Sales/Revenue/Turnover
13.24%
18.13%
16.65%
Total Cash Common Dividend
19.91%
30.84%
96.97%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,836
9,504
9,974
10,938
39,252
2025
9,910
11,537
- -
12,486
45,787
2026
10,413
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.53
- -
- -
- -
2.87
2025
0.78
- -
- -
- -
3.57
2026
0.66
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
- -
- -
- -
1.42
2025
0.03
- -
- -
- -
2.8
2026
0.06
- -
- -
- -
- -
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Business
Fuyao Glass Industry Group Co., Ltd. (600660.SS) manufactures and distributes automotive safety glass and integrated trim solutions for passenger vehicles, commercial transport, and rail applications worldwide. The company produces automotive-grade float glass; advanced automotive glass products including head-up display (HUD) glass, semi-tempered laminated glass, acoustic glass, heating glass, hydrophobic glass, dimming glass, antenna glass, heat insulation glass, lightweight glass, photovoltaic sunroofs, panoramic sunroofs, ambient glass, flush styling windows, encapsulated glass assemblies, and sliding window assemblies; rail transit glass; automotive glass replacement services; and accessory components such as exterior decorations, window trims, luggage racks, molds, plastic products, and refined aluminum automotive decorations. Fuyao serves major original equipment manufacturers (OEMs) including Volkswagen, Ford, BMW, Toyota, Honda, Mercedes-Benz, Bentley, Audi, GM, Chrysler, Nissan, Hyundai, Fiat, Volvo, and Land Rover, with a focus on high-value smart glass and electric vehicle (EV) technologies. In recent developments, Fuyao opened a new $300 million manufacturing facility in Moraine, Ohio, USA, in July 2025, adding approximately 500 jobs and capacity for 2 million sets of coated automotive glass annually, targeting EVs, heads-up displays, and advanced driver assistance systems (ADAS). The company announced a $400 million investment in March 2025 to expand float glass production at its Decatur, Illinois plant and continues multi-billion yuan investments in smart manufacturing bases across Fujian, Anhui, and Shanghai provinces in China. Fuyao has enhanced its capabilities through the 2021 acquisition of PPG Industries' automotive glass business, bolstering R&D for next-generation vehicle solutions, while high-end products now exceed half of output, driving revenue growth with international sales up 18% in 2024 and first-quarter 2025 sales rising 12% year-over-year. Founded in 1987 and headquartered in Fuqing, Fujian Province, China, Fuyao operates production facilities globally, including major sites in the United States (Moraine, Ohio; Decatur, Illinois; Greenville, South Carolina), Germany, and multiple locations in China, employing over 27,000 staff and ranking as the world's largest automotive glass supplier. The company maintains a vertically integrated model from raw materials to finished products, with subsidiaries like Fuyao Glass America supporting North American OEM and aftermarket demand. In October 2025, founder Cao Dewang transitioned the chairman role to his son Cao Hui, signaling continued focus on innovation amid leadership continuity.