Breaking Down Xinjiang Xintai Natural Gas Co., Ltd. Financial Health: Key Insights for Investors

Dive into a data-driven snapshot of Xinjiang Xintai Natural Gas Co., Ltd. where 2024 revenue reached ¥3.78 billion (up 7.40% year-over-year) and Q1 2025 revenue accelerated to ¥1.06 billion (+30.93% QoQ); the company posts a TTM gross profit of ¥1.86 billion with a gross profit margin of 48.73%, TTM net income of ¥1.12 billion (net margin 29.6%) and TTM EBITDA of ¥2.89 billion (EBITDA margin 76.40%), while market metrics show a market capitalization of ¥12.18 billion as of July 31, 2025 (down 21.82% YoY), a trailing P/E near 9.87 and forward P/E 7.58, EPS 2.64, ROE 13.39%, solid liquidity with current ratio 1.68, quick ratio 1.47 and cash of ¥2.91 billion, and a balanced leverage profile (debt-to-equity 0.70 and EV/EBITDA 6.40) - read on to explore how these concrete figures map to valuation, risks (including a 7.53% decline in net profit for the first three quarters of 2025), and growth vectors such as a 30.15% Urban Gas revenue jump in 2023 and strategic investments.

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) - Revenue Analysis

Xinjiang Xintai reported steady top-line growth in 2024 with notable margin improvement and mixed short-term momentum by quarter. Key numeric takeaways and segment contributions are summarized below.

• 2024 revenue: 3.78 billion yuan (+7.40% vs. 2023: 3.52 billion yuan)
• Revenue per share (TTM): 8.77 yuan
• Quarterly revenue growth (most recent quarter): -6.00% (TTM quarterly comparison)
• Gross profit (TTM): 1.86 billion yuan; gross profit margin: 48.73% (+10.32% YoY)
• Q1 2025 revenue: 1.06 billion yuan (+30.93% vs. prior quarter 812.48 million yuan)
• Urban Gas segment 2023 revenue: 1.12 billion yuan (+30.15% YoY)
• Market capitalization (as of 2025-07-31): 12.18 billion yuan (down 21.82% YoY)

For context on corporate background, ownership and business model, see Xinjiang Xintai Natural Gas Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money.

Implied 2023 gross profit and margin are estimated by reversing the stated YoY margin improvement (for reference and trend visualization).

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) - Profitability Metrics

Key profitability indicators for Xinjiang Xintai Natural Gas Co., Ltd. (TTM unless noted) show robust margins and solid shareholder returns, offset by recent softness in operating income and quarterly net profit declines.

• Net income (TTM): 1.12 billion yuan; net profit margin: 29.6%.
• Operating income (TTM): 1.68 billion yuan; operating margin: 44.57% (down 8.38% YoY).
• EBITDA (TTM): 2.89 billion yuan; EBITDA margin: 76.40% (up 7.40% YoY).
• Return on equity (ROE): 13.39%.
• Earnings per share (EPS, TTM): 2.64 yuan; price-to-earnings (P/E): 10.15.
• Net profit (first three quarters of 2025): 815 million yuan (down 7.53% YoY).

Investor-focused observations:

• High EBITDA margin (76.40%) suggests strong cash-generation capacity relative to revenue.
• Double-digit ROE (13.39%) indicates effective use of equity, supporting dividend capacity or reinvestment.
• Operating margin decline (-8.38% YoY) and a 7.53% drop in YTD net profit through Q3 2025 signal near-term operational pressure despite strong EBITDA.
• P/E of 10.15 with EPS of 2.64 yuan positions the stock as relatively attractively valued versus growth/profitability profile.

For context on corporate direction that may affect future profitability, see: Mission Statement, Vision, & Core Values (2026) of Xinjiang Xintai Natural Gas Co., Ltd.

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) - Debt vs. Equity Structure

• Debt-to-Equity: 0.70 - moderate leverage, manageable interest exposure relative to equity base.
• Enterprise Value: 18.37 billion yuan - market + net debt valuation shows scale of business.
• EV/EBITDA: 6.40 - valuation multiple indicating a moderate premium relative to earnings.
• Current Ratio: 1.68 - adequate short-term solvency; current assets comfortably exceed current liabilities.
• Quick Ratio: 1.47 - strong near-term liquidity excluding inventories.
• Cash on Hand: 2.91 billion yuan - provides a buffer for liquidity needs and potential investments.

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) - Liquidity and Solvency

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) presents a liquidity and solvency profile that supports short-term operational needs and maintains prudent leverage for growth and capital expenditures. Key metrics point to solid cash reserves, reliable operating cash flows, and an ability to service debt comfortably from operating earnings.

• Current ratio: 1.68 - adequate coverage of short-term liabilities by short-term assets.
• Quick ratio: 1.47 - sufficient immediate liquidity excluding inventories.
• Interest coverage ratio: 10.70 - strong capacity to meet interest expenses from operating income.
• Debt-to-equity ratio: 0.70 - balanced financing mix between debt and equity.
• Total cash (most recent quarter): ¥2.91 billion - robust cash buffer for operations and near-term commitments.
• Operating cash flow (TTM): ¥2.05 billion - healthy cash generation from core activities.

Operational earnings generate sufficient cash to cover interest and contribute to the company's cash pile, reducing refinancing risk and supporting investment in infrastructure and distribution. For strategic context on corporate purpose and long-term orientation, see: Mission Statement, Vision, & Core Values (2026) of Xinjiang Xintai Natural Gas Co., Ltd.

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) Valuation Analysis

• Trailing P/E: 9.87 - implies the market is paying ¥9.87 for each yuan of trailing earnings.
• Forward P/E: 7.58 - suggests the market expects earnings growth or improved profitability ahead.
• Price-to-Sales (P/S): 3.28 - market values the company at 3.28× annual revenue.
• Price-to-Book (P/B): 1.03 - stock is trading very close to its book value, near 1×.
• EV/EBITDA: 6.40 - enterprise value equals 6.40 times EBITDA, a relatively conservative valuation.
• Market Capitalization (31 Jul 2025): ¥12.18 billion - down 21.82% year-over-year, reflecting share-price pressure or changes in outstanding shares.

• Relative positioning: Low-mid single-digit P/E multiples and EV/EBITDA ~6.4 typically signal either cyclical softness or a value opportunity depending on balance sheet strength and EBITDA stability.
• Balance-sheet cross-check: P/B ≈1.03 reduces downside from asset-value support but also implies limited market premium for growth or intangible assets.
• Investor action: For context on shareholder composition and recent trading drivers see: Exploring Xinjiang Xintai Natural Gas Co., Ltd. Investor Profile: Who's Buying and Why?

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) - Risk Factors

• Profitability pressure: Net profit for the first three quarters of 2025 was RMB 815 million, down 7.53% year-over-year, signaling weakening bottom-line performance.
• Revenue decline: Operating income fell 8.38% year-over-year, which can compress margins and limit reinvestment capacity.
• Market sentiment: Market capitalization has dropped 21.82% over the past year, reflecting investor concern or repositioning.
• Valuation skepticism: A trailing P/E ratio of 10.15 suggests the market prices the stock with limited expectation of robust near-term earnings growth.
• Leverage: Debt-to-equity of 0.70 indicates moderate leverage that could constrain flexibility if cash flows deteriorate.
• Liquidity constraints: Quick ratio at 1.47, while above 1, points to limited immediate liquidity cushion against short-term obligations.

• Worsening revenue trends or margin compression that further erode net profit and cash generation.
• Rising interest rates or refinancing needs that could stress the current debt profile (D/E = 0.70).
• Continuation of negative market sentiment-further declines in market cap may increase volatility and reduce access to capital.
• Operational disruptions (supply, regulatory, or commodity price swings) that could quickly tighten liquidity given a quick ratio near 1.5.

Xinjiang Xintai Natural Gas Co., Ltd. (603393.SS) - Growth Opportunities

• Urban Gas momentum: Revenue in the Urban Gas segment rose 30.15% in 2023, demonstrating robust end-market demand and room for network and customer-base expansion.
• Investor validation: Market capitalization has increased 98.28% since September 12, 2016, signaling sustained investor confidence and value creation over the medium term.
• Upstream strategic push: The formation of Xinjiang Mingxin Aggregate Oil and Gas Exploration and Development Co., Ltd. with 800 million yuan registered capital positions the company to capture higher-margin upstream hydrocarbon opportunities and secure supply.
• Profitability efficiency: Return on equity (ROE) stands at 13.39%, showing efficient use of shareholders' equity in generating earnings.
• Valuation context: A price-to-book (P/B) ratio of 1.03 indicates the stock is trading near book value, which can be interpreted as modest valuation with potential upside if growth persists.
• Liquidity for growth: Total cash of 2.91 billion yuan (most recent quarter) provides a strong buffer to finance capex, M&A, and exploration/development initiatives without immediate reliance on external financing.

• Near-term growth catalysts: accelerated urban pipeline rollouts, customer additions in existing city-gas concessions, and monetization of upstream assets through the new exploration JV.
• Capital allocation levers: deploy 2.91 billion yuan cash toward strategic capex, opportunistic acquisitions, or guided dividends/share buybacks depending on board priorities.
• Risk mitigants: strong ROE and near-book valuation reduce downside risk vs. peers; upstream push diversifies revenue but raises exploration risk and capex intensity.