COSCO SHIPPING Energy Transportation Co.

600026.SS

Marine Shipping · Industrials

Price

¥20.34

+0.01 (+0.05%)

Market Cap

¥84.80B

Exchange

Shanghai Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Sep 4, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Strong

Stability

Good

Valuation

Strong

Dividends

Good

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Share count rising — dilution

+2.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 4.76B (2021) → 4.89B (2025)

Winston Score History

The full picture

COSCO SHIPPING Energy Transportation is one of the world's largest oil and gas shipping companies. It operates a massive fleet of tankers that carry crude oil, refined petroleum products, and liquefied natural gas (LNG) across the oceans. Its main customers are major oil companies, energy traders, and national oil corporations that need to move fuel between continents.

The company earns money by charging fees to transport energy cargo, using a mix of long-term contracts and spot-market voyages. It is a subsidiary of China's state-owned COSCO SHIPPING Group and is listed on the Shanghai Stock Exchange, with a market cap around $85 billion. Its large, modern fleet and backing by a major state enterprise give it a strong competitive position in global energy logistics. Key growth depends on global oil trade volumes and LNG demand, while shipping rate volatility and the energy transition toward renewables remain significant long-term risks.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+33.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+79.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

¥0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

69.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

¥34.3B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

COSCO SHIPPING Energy Transportation Co. grew revenue 33% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

39.9%

Modest — 39.9% gross margin

Profit after running costs

Operating Margin

35.6%

Excellent — 35.6% operating margin

Return on the money invested

ROCE

9.1%

Below par — 9.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+17.9%

Fast-growing sales (+17.9% YoY)

Profit growth

EPS YoY

+87.0%

Earnings growing fast (+87.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

182%

Turns 182% of profit into real cash

Spare cash per sale

FCF Margin

9.5%

Modest free cash flow (9.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.79

Moderate — manageable debt (0.79)

Covers its interest

Interest Cover

6.20x

Adequate interest coverage (6.2x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

15.8x

Fair value — P/E 15.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+6.6

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.8 → 9.1)

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Dividends

Dividend

Dividend Yield

1.87%

Small dividend — 1.87% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+182.9%

Dividend growing fast (182.9% YoY)

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