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Kweichow Moutai Co Ltd Class A 600519

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Stock XSHG Rating as of
CN¥1,290.88 −18.42 (1.41%)
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As of Delayed Price Closed

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Kweichow Moutai's Competitive Strength in the Premium Baijiu Market Secures Robust Profit Outlook

Jennifer Song

As China's most distinguished spirit brand, Kweichow Moutai has remarkable pricing power, premium product quality, a long history, and unparalleled brand strength. Its premium position is reflected in its 69% operating margin and 80% return on invested capital over the past five years between 2021 and 2025, despite China's macroeconomy and consumption headwinds. Moutai remains a leading brand in China's culinary and consumption culture, and we believe it will continue its premium position over the long term.

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Price vs Fair Value

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600519 is trading at a LOCK|pHsW^SP premium.
Price
CN¥1,309.30
Fair Value
LOCK|<S@
Uncertainty
QV!
1-Star Price
LOCK|!?b
5-Star Price
LOCK|#tF
Economic Moat
LOCK|Vy$
Capital Allocation
LOCK|$?

Bulls Say, Bears Say

Bulls

Kweichow Moutai’s iconic status in Chinese drinking culture is extremely difficult for its competitors to duplicate, giving it strong pricing power, the benefits of which are reflected in its industry-leading profitability.

Bears

China's anticorruption campaign could add pressure to Moutai’s revenue growth.

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Trading Information

Previous Close Price
CN¥1,309.30
Day Range
CN¥1,286.68–1,309.30
52-Week Range
CN¥1,151.01–1,565.00
Bid/Ask
CN¥1,290.86 / CN¥1,290.88
Shares Outstanding
1.25B
Market Cap
CN¥1.61T
Volume/Avg
3M / 4M

Key Statistics

Price/Earnings (Normalized)
20.13
Price/Sales
9.46
Dividend Yield (Trailing)
3.97%
Dividend Yield (Forward)
3.97%
Dividend Payment Schedule
Jun, Dec
Total Yield
3.97%

Company Profile

Kweichow Moutai is China’s largest baijiu producer, with sales revenue of over CNY 170 billion in 2024. Established in 1951, Moutai is headquartered in Moutai Town, Renhuai City, Guizhou province, in southwest China. Its core product, 53-degree Feitian Moutai, is known as China’s national drink and has been consumed during many high-profile historical and political events. Moutai’s unparalleled brand strength and premium product quality have led to remarkable pricing power, allowing it to achieve the industry's highest retail prices and profit margins. The State-owned Assets Supervision and Administration Commission of Guizhou province, through Moutai Group, controls a 49% stake in Kweichow Moutai.
Sector
Consumer Defensive
Industry
Beverages - Wineries & Distilleries
Stock Style Box
Large Core
Total Number of Employees
34,992
Website
https://www.moutaichina.com

Competitors

Valuation

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Metric
600519
002304
000858
Price/Earnings (Normalized)
 20.13169.1221.64
Price/Book Value
 6.511.272.35
Price/Sales
 9.464.006.12
Price/Cash Flow
 18.9346.2219.01
Price/Earnings
600519
002304
000858

Financial Strength

Metric
600519
002304
000858
Quick Ratio
 4.232.301.99
Current Ratio
 5.594.882.47
Interest Coverage
 2,485.58210.78449.39
Quick Ratio
600519
002304
000858

Profitability

Metric
600519
002304
000858
Return on Assets (Normalized)
 26.97%0.60%−1.13%
Return on Equity (Normalized)
 33.23%0.74%−1.80%
Return on Invested Capital (Normalized)
 31.70%0.42%−3.23%
Return on Assets
600519
002304
000858

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