1. China Stocks

  2. •

    Consumer non-durables

  3. •

    Beverages: alcoholic
Kweichow Moutai Co., Ltd. Class A

Kweichow Moutai Co., Ltd. Class A

1,335.00
CNY
+16.51
(+1.25%)
1.48TMarket Cap
Oct 31Next Earn
Kweichow Moutai Co., Ltd. Class A
SSE:600519
(Shanghai Stock Exchange)

Recent

price

1,335.00

P/E

ratio

- -

div

yld

1.80%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
9.27
14.65
21.06
24.73
25.65
26.62
31.97
48.62
61.45
70.73
78
87.14
101.55
119.85
138.62
137.23
- -
Revenue per Share
4.02
6.98
10.6
12.05
12.22
12.34
13.31
21.56
28.02
32.8
37.17
41.76
49.93
59.49
68.64
65.66
- -
Basic EPS, GAAP
3.56
6.34
6.14
5.77
6.53
12.24
29
16.74
31.66
33.48
39.46
48.26
24.99
50.92
69.88
46.58
- -
Free Cash Flow per Basic Share
1.03
2.12
3.27
5.38
3.62
4.01
6.22
6.79
11
14.54
17.02
19.29
43.59
45.02
54.76
51.58
23.97
Dividend per Share
14.65
19.89
27.18
33.93
42.53
50.89
58.03
72.8
90.01
108.27
128.42
150.88
157.2
171.68
185.56
195.36
200.99
Book Value per Share
14.29
19.25
26.5
31.09
39.68
48.04
55.22
70.05
87.22
104.51
124.59
145.94
151.41
164.69
178.44
188.33
194.02
Tangible Book Value per Share
1,255
1,256
1,256
1,257
1,256
1,256
1,256
1,256
1,256
1,256
1,256
1,256
1,256
1,256
1,256
1,254
1,252
Basic Weighted Avg Shares
11,633
18,402
26,455
31,071
32,217
33,447
40,155
61,063
77,199
88,854
97,993
109,464
127,554
150,560
174,144
172,054
- -
Sales/Revenue/Turnover
60.01
65.1
69.59
68.85
68.4
66.26
60.68
63.89
66.68
66.64
67.94
67.55
67.85
67.72
67.92
66.3
- -
Operating Margin (%)
283
343
431
552
753
841
923
1,116
1,165
1,233
1,306
1,571
1,677
1,921
2,065
2,239
- -
Depreciation Expense
5,051
8,763
13,308
15,137
15,350
15,503
16,718
27,079
35,204
41,206
46,697
52,460
62,717
74,734
86,228
82,320
- -
Net Income, GAAP
25.45
25.01
25.09
25.51
25.65
25.21
25.16
25.13
25.57
25.2
25.19
25.24
25.46
25.22
25.33
25.66
- -
Effective Tax Rate (%)
43.42
47.62
50.3
48.72
47.64
46.35
41.63
44.35
45.6
46.38
47.65
47.92
49.17
49.64
49.52
47.85
- -
Profit Margin (%)
13,272
18,349
26,699
30,624
37,027
44,953
53,160
73,674
95,425
117,931
139,857
162,851
167,546
176,475
195,211
202,908
214,080
Working Capital
- -
- -
- -
- -
- -
- -
- -
16
- -
- -
415
296
334
267
314
190
187
LT Debt
18,549
25,403
35,454
44,129
55,312
66,234
75,899
96,020
117,638
141,876
167,721
196,958
204,938
223,656
242,011
253,959
262,096
Total Equity
31.64
40.98
44.04
38.05
31.33
26.26
24.39
31.7
32.92
31.65
30.42
28.92
31.08
35
37.15
33.34
- -
Return on Invested Capital (%)
27.9
36.46
41.43
35.96
29.02
23.98
21.86
29.26
30.49
29.71
28.29
26.92
29.83
33.52
35.65
31.96
- -
Return on Capital (%)
30.74
40.39
45
39.43
31.96
26.42
24.44
32.95
34.43
33.09
31.41
29.9
32.41
36.18
38.43
34.46
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
44
53
57
LT Borrowings
- -
- -
- -
LT Finance Leases
190
189
187
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,252
1,252
1,250
Market Capitalization
1,724,601
1,815,792
1,481,959

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
252,519
271,525
260,725
Cash, Cash Equivalents & STI
51,691
48,787
53,519
Accounts Receivable, Net
3
32
1
Inventories
61,427
60,692
61,317
Total Current Liabilities
49,610
38,456
46,645
Payables & Accruals
- -
- -
- -
ST Debt
44
53
57
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.62%
8.75%
4.94%
Free Cash Flow
28.91%
16.32%
-33.48%
Net Income, GAAP
19.21%
12.38%
-4.53%
Sales/Revenue/Turnover
18.47%
12.15%
-1.2%
Total Cash Common Dividend
33.37%
31.64%
-5.98%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
46,485
36,966
39,671
51,022
174,144
2025
51,443
39,650
- -
41,150
172,054
2026
54,703
37,575
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
19.16
14.03
15.23
20.22
68.64
2025
21.38
14.8
- -
14.13
65.66
2026
21.76
13.81
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
23.88
54.76
2025
- -
- -
- -
23.97
51.58
2026
- -
- -
- -
- -
- -
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Business
Kweichow Moutai Co., Ltd. (600519.SS) produces and sells baijiu liquor, principally its flagship Feitian Moutai series including the 53-degree 500ml variant, alongside Moutai 1935, Moutai Wangzi, Moutai Yingbin, Lai Mao, Han Jiang, and other brands spanning low-alcohol (33°, 38°, 43°), aged (15-, 30-, 50-, 80-year), premium, and series products; it also manufactures beverages, food items, and packaging materials while developing anti-counterfeiting technologies, information industry products, and services in hotels, catering, entertainment, transportation, and telecommunications. Founded in 1999 and headquartered in Renhuai, Guizhou province, China, the company—a subsidiary of China Kweichow Moutai Distillery (Group) Co., Ltd.—operates primarily in the domestic market (over 97% of sales) with expanding international presence through duty-free partnerships and cultural promotions in Europe, Asia, and North America. Recent developments include a deepened strategic alliance with Luckin Coffee yielding baijiu-infused lattes and a co-branded Shenzhen store in 2025, alongside a new UK partnership with Joybuy for online retail and a planned Moutai Cultural Experience Centre; the company launched the Year of the Snake Zodiac Wine and Shengyue Feitian Kweichow Moutai in January 2025, introduced a 7,000-yuan commemorative five-star trademark bottle in 2024, completed a 6 billion yuan share buyback in 2024, acquired Guizhou Renshui in 2021, and reported record 2024 net profit growth of 15.38% to 86.228 billion yuan while advancing global capacity expansions and channel optimizations across self-operated, iMoutai, dealers, e-commerce, and hotel dining segments.