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Meituan Class B 03690 Stock Quote

| Rating as of

XHKG: 03690

Market Closed

| Currency in HKD

  • Last Close 120.80
  • Sector Consumer Cyclical
  • Industry Internet Retail
  • Investment Style Large Growth
  • Day Range 114.80  –  121.50
  • Year Range 109.20  –  195.70
  • Market Cap 754.1365 Bil
  • Volume / Avg 24.6 Mil /  21.6 Mil
  • Price / Sales 2.68
  • Price / Book 4.91
  • Forward Div Yield
  • Trailing Div Yield

Morningstar‘s Stock Analysis 03690

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

1-Star Price


5-Star Price


Economic Moat


Capital Allocation


Meituan Earnings: Recovery Remains Strong but Lower Margin Looming Due to Revival of Heavy Subsidies

Kai Wang Senior Equity Analyst

Analyst Note

| Kai Wang |

We maintain our fair value estimate for Meituan at HKD 145 after the company reported second-quarter revenue of CNY 68 billion that was 3% worse and operating margin of 4.9% that was 10 basis points better than our estimates. Meituan also reported CNY 5.40 billion in transactions for its delivery business, a 32% year-on-year increase due to a strong recovery, and in line with its guidance and our estimate of CNY 5.37 billion. The company reported new initiatives revenue of CNY 16.8 billion, reflecting growth of 18% year on year—but operating losses of CNY 5.2 billion widened by CNY 170 million sequentially and still didn't see improvement in narrowing losses, which remains the main reason for our unenthusiastic outlook for Meituan. Despite the strong revenue recovery, we do not believe Meituan has turned a corner toward greater profitability, as the revenue growth was accompanied by a 62% year-on-year increase in sales and marketing expenses. We believe that heavy use of subsidies to generate greater users and order growth is likely to be unfeasible over the long term, looking at the growth reversals seen before when e-commerce companies reduce their subsidies to refocus on profitability. We caution investors not to overvalue Meituan based on revenue growth but rather cash flow, given the long-standing profitability concerns over heavy cash burn and margin pressure.

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Key Statistics 03690

Company Profile 03690

Business Description

Meituan is the largest food delivery service in China, with a 70.7% share of the market in 2020 per the Chinese government. For the quarter-ended Sept. 30, 2021, the firm generated 54.2% of revenue from food delivery services, 17.7% from hotel booking, coupon sales, advertising, and 28.1% from new initiatives. In the long term, its new initiatives business may transform the company into an all-encompassing grocer and logistics business involving community group buying, nonfood delivery, and online grocery, overtaking food delivery as its main business.

No. 4 Wang Jing East Road, Block B and C, Hengjiweiye Building, Chaoyang District
Beijing, 100102, CHN
Industry Internet Retail
Employees 91,932

Related Articles 03690

Competitors & Peers 03690

Morningstar analysts hand-select direct competitors or comparable companies to provide context on the strength and durability of 03690’s competitive advantage.

Meituan Class B

XHKG: 03690

PDD Holdings Inc ADR


Alibaba Group Holding Ltd Ordinary Shares

XHKG: 09988 Group Ltd

XHKG: 09961
+$4.50 (3.87%) +$3.76 (4.08%) +$3.25 (3.93%) +$7.00 (2.50%)
Market Cap
754.14 Bil127.45 Bil1.75 Tril185.70 Bil
Internet Retail Internet Retail Internet Retail Travel Services
Consumer Cyclical
Consumer Cyclical
Consumer Cyclical
Consumer Cyclical

* Trading data in this section is delayed by at least 15 minutes.

FAQs for Meituan Class B Stock

No. 03690 does not currently have a forward dividend yield.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

Learn more about dividend yield.

03690’s market cap is 754.14 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

Learn more about market capitalization.

03690’s stock style is Large Growth.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

Learn more about style.

03690’s price/sales is 2.68.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

03690’s price/forward earnings is 87.15.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

03690’s price/book is 4.91.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

See 03690’s valuation ratios compared to the Market Index.

03690’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare 03690’s historical performance against its industry peers and the overall market.