PerpEquities

Contemporary Amperex Technology Co., Limited (H shares) (CATLHK) financials

HKSE · Industrials · Electrical Equipment & Parts · 185,839 employees · CEO Yuqun Zeng

Price
HK$338.80 0.00%
Market cap
HK$1.44T
Enterprise value
CN¥1T
Last report
Q3 '26 filed 2026-09-30
Next report
2027-04-28
Revenue (TTM)CN¥582B+50.8% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)16.4%-2.4 pp vs a year agoOperating income CN¥95.2B
Net income (TTM)CN¥87.6B+37.4% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)CN¥63.9B-12.4% vs a year agoCapex CN¥54.9B
Diluted EPS (TTM)CN¥19.27+34.8% vs a year agoSum of the last 4 quarters
Net cashCN¥89.7B-42.4% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
HK$1.44T
EV CN¥1T
Revenue
CN¥582B
Trailing 12 months
Revenue growth
+47%
FY2026 consensus
Profit margin
15.0%
Net income / revenue, TTM
P/E
12.1×
P/S
1.8×
Price / sales, TTM
EV / EBITDA
9.5×
TTM
Free cash flow
CN¥63.9B
Trailing 12 months
Net income
CN¥87.6B
Trailing 12 months
Revenue estimate
CN¥623B
FY2026 consensus
Earnings
2027-04-28
Dividend
HK$10.62
Per share, last 12 months

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

  • Revenue growth accelerating: 58.6% year on yearQ3 '26 revenue CN¥165B, against an average of 39.5% over the four quarters before.
  • Operating margin 16.4% (TTM), -2.4 pp on a year agoOperating income grew 31.2% while revenue grew 50.8%.
  • 13.2% of pre-tax profit is non-operatingPre-tax income CN¥110B vs operating income CN¥95.2B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 9.4% of revenue (a year ago 10.4%)CN¥54.9B invested in the last 4 quarters (+36.5% on a year earlier). Free cash flow CN¥63.9B = 72.9% of net income.
  • Returned CN¥776M to shareholders = 1.2% of free cash flowBuybacks CN¥0 (a year earlier CN¥1.22B), dividends CN¥776M, stock-based pay CN¥0 (TTM).
  • Diluted share count up 1.1% in a year4.59B diluted shares in Q3 '26, 4.54B a year earlier.
  • Net cash CN¥89.7BCash + short-term investments CN¥432B, debt incl. leases CN¥343B; a year ago net cash CN¥156B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

Q3 '26Year agoChange
RevenueCN¥165BCN¥104B+58.6%
Gross margin20.7%25.8%-5.1 pp
Operating incomeCN¥18.4BCN¥15.8B+16.6%
Operating margin11.2%15.2%-4.0 pp
Net incomeCN¥21.2BCN¥18.5B+14.6%
Diluted EPSCN¥4.63CN¥4.00+15.7%
Operating cash flowCN¥3.12BCN¥22.9B-86.3%
CapexCN¥17.4BCN¥10.1B+71.4%
Free cash flow-CN¥14.2BCN¥12.7B-211.7%
R&DCN¥7.14BCN¥4.97B+43.6%
Stock-based compensationCN¥0CN¥0–

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement
Operating cash flow
CN¥119B
Capex
-CN¥54.9B
Buybacks
CN¥0
Dividends
-CN¥776M
Acquisitions
CN¥3.36B
Net debt issued
CN¥37.3B
Stock-based compensation
CN¥0
Free cash flow
CN¥63.9B
Returned to shareholders / FCF
1.2%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years
Now5y averageWhere today sits in the 5-year range
P/E (TTM)12.1×36.7×24.8× – 65.3×
EV / EBITDA9.5×19.6×11.6× – 36.9×
EV / Sales1.7×4.2×2.7× – 7.7×
Price / FCF16.3×35.8× 4 of 5 years18.3× – 82.6×
Price / Book2.8×7.3×5.1× – 12.3×
FCF yield6.1%3.2%-0.1% – 5.5%
Return on invested capital9.0%11.1%10.5% – 13.1%
Return on equity24.0%20.4%18.7% – 22.3%

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal yearRevenueGrowthEPSGrowthP/E at today's priceAnalysts (EPS)
FY2026CN¥623B+47.1%CN¥19.73+22.3%–3
FY2027CN¥751B+20.6%CN¥23.50+19.1%–9
FY2028CN¥876B+16.6%CN¥28.01+19.2%–4
FY2029CN¥1.16T+33.0%CN¥27.47-1.9%–3
FY2030CN¥1.35T+15.8%CN¥0.00-100.0%–3

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpenBalance sheetCash, investments, assets, debt, liabilities and equityOpenCash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates: Financial Modeling Prep.

Data as of 2026-11-01 · Amounts in CNY as reported; price and market cap in HKD.