COSCO Shipping Holdings Co Ltd CICOY

IndustrialsFreight & Logistics ServicesChina

Last close 10.82 USD on Nov 1, 2026, +37.1% year to date

Quant rating

Quant rating A Rank 7 of 418 in Industrials

Growth C 256 of 418
Valuation A 13 of 418
Quality A 37 of 418
Revisions B 92 of 418
Momentum A 5 of 418

Wall Street consensus Hold (2.64)Average target 2.63 USD −75.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 39.7B
Enterprise value: 35.5B
52-week range: 8.26 – 11.55
3-year range: 4.43 – 11.55
Dividend yield: 5.57%
Beta (5 years): 0.59
Shares outstanding: 15,218M
Next earnings: Mar 20, 2027

About the company

COSCO Shipping Holdings Co Ltd, formerly China COSCO Holdings Co Ltd, is a China-based company mainly engaged in container shipping business. The Company operates three segments. The Container Shipping Business segment mainly operates international and domestic container transportation services and related businesses. The Terminal Business segment is mainly engaged in the loading, unloading, and storage of containers and bulk cargo terminals. The Company also operates the Other Business segment. The Company's businesses cover the Americas, Europe, Asia Pacific, Chinese Mainland and other mainland regions.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	31,389	32,039	24,719	56,698	52,533	–
Revenue growth	−2.0%	29.6%	−56.4%	7.9%	100.2%	3.6%
EPS (basic, normalized)	0.29	0.42	0.20	0.99	0.88	–
EPS growth	−32.1%	107.3%	−79.2%	12.0%	–	–
Gross margin	20.0%	29.5%	16.4%	44.3%	42.3%	30.5%
Net margin	14.1%	21.0%	13.6%	28.1%	26.8%	20.7%
ROE	13.2%	22.8%	12.0%	65.6%	100.6%	42.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	22,762
Current ratio	1.44x
Long-term debt (mil)	8,021
Net debt (mil)	−4,080
Total equity (mil)	36,154
Net debt / equity	−0.11x
Net debt / EBITDA	−0.45x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	31,389	−2.0%	1.1x	9,103	−14.3%	3.9x	0.29	−32.1%	37.5x
2026	36,488	+16.2%	1.0x	9,610	+5.6%	3.7x	0.35	+20.0%	31.3x
2027	34,742	−4.8%	1.0x	7,078	−26.3%	5.0x	0.22	−35.5%	48.4x
2028	34,942	+0.6%	1.0x	6,626	−6.4%	5.4x	0.19	−16.0%	57.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	36,488	+2.8%	+9.1%	+9.9%	0.35	+8.9%	+62.7%	+48.1%
2027	34,742	+2.2%	+6.2%	+6.4%	0.22	+0.5%	+70.5%	+36.4%
2028	34,942	+0.4%	+3.7%	+3.3%	0.19	−7.9%	+45.4%	−2.7%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	48,270	52,931	73,536	59,122	57,960	51,139	58,499	51,600	51,503	60,419
Sales mean (mil)	48,241	59,613	74,388	59,109	49,992	46,795	52,767	53,814	53,263	56,795
Surprise	+0.1%	−11.2%	−1.1%	0.0%	+15.9%	+9.3%	+10.9%	−4.1%	−3.3%	+6.4%
EPS reported	0.42	0.63	1.33	0.69	0.74	0.38	0.62	0.25	0.38	0.49
EPS mean	0.32	0.69	1.18	0.68	0.32	0.24	0.43	0.51	0.45	0.43
Surprise	+31.2%	−8.7%	+12.7%	+1.5%	+130.5%	+55.3%	+43.4%	−51.6%	−15.6%	+15.5%

Peer comparison Freight & Logistics Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CICOY COSCO Shipping Holdings Co Ltd	39.7B	−0.45x	14.1%	1.12x	31.3x	48.4x	3.7x	5.0x
DSDVY DSV A/S	50.6B	2.77x	3.4%	2.60x	26.7x	18.1x	11.9x	10.8x
AMKBY AP Moeller - Maersk A/S	49.9B	1.24x	5.0%	0.90x	0.0x	0.1x	4.5x	6.6x
ODFL Old Dominion Freight Line, Inc.	35.8B	−0.26x	18.6%	7.66x	29.1x	25.6x	17.7x	16.0x
KHNGY Kuehne + Nagel International AG	34.8B	1.40x	3.6%	10.71x	5.0x	4.7x	12.9x	12.3x
HPGLY Hapag-Lloyd AG	26.2B	0.56x	4.9%	1.32x	12.7x	−2,166.1x	7.3x	9.2x
Mean		0.88x	8.3%	4.05x	17.5x	−344.9x	9.7x	10.0x
Median		0.90x	5.0%	1.96x	19.7x	11.4x	9.6x	10.0x

Technical analysis

1M+7.4%
3M+19.0%
1Y+44.2%
3Y+234.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, COSCO Shipping Holdings Co Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	31,389	32,039	24,719	56,698	52,533	26,247
Cost of revenue	25,096	22,574	20,676	31,606	30,311	22,517
Gross profit	6,293	9,464	4,042	25,092	22,222	3,729
Selling, general & administrative expenses	1,481	1,505	1,132	1,890	1,993	1,524
Research & development	157	139	125	171	98.4	29.3
Depreciation/amortization	0.6	1.2	27.2	29.7	40.3	10.6
Interest expense (income), operating	−1,159	−1,186	−1,488	−1,010	54.9	266
Unusual expense (income)	−5.4	−20.2	−13.2	−71.3	−68.4	−104
Other operating expenses	−192	−151	−404	−165	−89.3	−132
Operating income	6,011	9,177	4,664	24,247	20,192	2,135
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	−5.7
Other non-operating income (expense)	−4.9	−13.0	−3.4	−20.6	−40.6	8.2
Net income before taxes	6,006	9,164	4,660	24,227	20,152	2,138
Provision for taxes	968	1,575	660	5,167	3,794	117
Minority interest	−623	−862	−639	−3,154	−2,292	−500
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	4,414	6,727	3,362	15,905	14,066	1,521
Extraordinary items	–	–	–	–	–	–
Net income	4,414	6,727	3,362	15,905	14,066	1,521
EBIT, normalized	4,846	7,970	3,163	23,166	20,179	2,297
EBITDA, normalized	7,805	10,491	5,877	26,104	22,223	4,154
Basic EPS, normalized	0.29	0.42	0.20	0.99	0.88	–

Balance sheet in millions of USD, fiscal years

Balance sheet, COSCO Shipping Holdings Co Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	21,619	25,249	25,531	34,357	28,163	8,200
Receivables	1,848	1,777	1,591	2,038	2,522	2,027
Total inventory	902	868	924	1,017	852	495
Prepaid expenses	280	225	310	256	322	225
Other current assets	135	120	170	195	120	81.9
Total current assets	24,784	28,238	28,527	37,864	31,979	11,029
Property, plant & equipment	29,597	26,290	24,094	24,815	25,031	22,844
Goodwill	909	877	896	885	888	893
Intangibles	1,089	1,011	1,063	1,114	1,222	1,070
Long-term investments	12,315	11,182	10,258	9,195	5,795	5,532
Note receivable	130	168	48.8	96.4	128	135
Other long-term assets	352	388	264	255	176	171
Total assets	69,176	68,153	65,151	74,223	65,219	41,674
Liabilities
Accounts payable	11,030	11,787	11.5	3.5	–	2.1
Payable/accrued	–	–	12,726	15,363	10,878	5,140
Accrued expenses	757	804	915	1,674	1,704	677
Short-term debt	296	233	340	325	260	940
Current portion of long-term debt	2,392	1,639	2,449	2,710	3,681	3,322
Other current liabilities	1,976	2,358	1,499	3,032	2,577	1,261
Total current liabilities	16,451	16,822	17,942	23,108	19,101	11,342
Long-term debt	8,260	8,570	9,099	10,487	15,700	17,258
Minority interest	7,313	6,903	6,636	7,714	7,205	5,331
Other liabilities	3,939	3,709	3,843	3,832	2,166	1,014
Total liabilities	35,963	36,004	37,521	45,140	44,171	34,944
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	2,215	2,187	2,264	2,334	2,521	1,879
Additional paid-in capital	3,808	4,388	4,449	4,435	5,056	5,286
Retained earnings (accumulated deficit)	27,139	25,138	20,625	22,215	14,108	−3.9
Treasury stock	−339	−219	−52.7	–	–	–
Other equity	391	656	344	99.2	−639	−431
Total equity	33,213	32,149	27,630	29,083	21,047	6,730
Total liabilities & shareholders' equity	69,176	68,153	65,151	74,223	65,219	41,674

Cash flow statement in millions of USD, fiscal years

Cash flow statement, COSCO Shipping Holdings Co Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	−1,729	−1,539	−1,310	−1,890	−1,996	−1,484
Cash from operations	6,513	9,496	3,186	28,533	26,922	6,901
Investing activities
Capital expenditures	−3,577	−3,562	−2,159	−1,521	−1,503	−1,022
Other investing cash flows	−51.9	−133	−427	−3,260	166	518
Cash from investing	−3,629	−3,695	−2,585	−4,781	−1,338	−504
Financing activities
Financing cash flow items	−3,459	−2,444	−3,749	−4,777	−1,912	−1,915
Cash dividends paid	−3,754	−1,919	−4,662	−6,946	−326	−518
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−186	−1,203	−45.8	−5,006	−3,239	−3,120
Cash from financing	−7,398	−5,565	−8,456	−16,728	−5,477	−5,554
Foreign exchange effects	−248	178	177	1,267	−308	−405
Net change in cash	−4,763	414	−7,679	8,291	19,799	439
Free cash flow	2,936	5,934	1,027	27,012	25,418	5,879

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.