600004.SS
Unloved QualityGuangzhou Baiyun International Airport Company Limited · Industrials · China · $3.0B cap · $15.0M/day traded
CNY 8.12 +1.4% · close 12 Nov · scored 13 Nov
Score up 1.5 since 12 Nov.
Unloved Quality: Strong and cheap, but the market has not warmed to it.
As of 13 Nov 2026, the MoatMap Score for Guangzhou Baiyun International Airport Company Limited (600004.SS) is 55/100, ranked against 25,000+ stocks in 38 markets (Quality 51, Value 52, Momentum 47, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT GUANGZHOU BAIYUN INTERNATIONAL AIRPORT COMPANY LIMITED
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Guangzhou Baiyun International Airport Company Limited operates one of China's three major aviation hubs, serving as a primary gateway to the Pearl River Delta. The company generates aeronautical revenue from aircraft movements and passenger handling, alongside high-margin non-aeronautical revenue from retail and advertising. Its competitive moat is a natural geographic monopoly supported by state-backed infrastructure investment and robust regional economic activity.
FINANCIAL SUMMARY (CNY)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4.0B | 6.4B | 7.4B | 8.0B | 26.1% | 8.5B | 8.5B | 9.1B | 7.0% |
| EPS (CNY) | -0.45 | 0.19 | 0.39 | 0.62 | 80.6% | 0.43 | 0.51 | 0.64 | 1.2% |
| Shares | 2.4B | 2.4B | 2.4B | 2.6B | +8.9% | 2.6B | — | — | — |
| Debt | 2.3B | 2.3B | 2.0B | 1.7B | -10.4% | 1.6B | — | — | — |
| Equity | 17.2B | 17.6B | 18.3B | 21.0B | 6.9% | — | — | — | — |
| Op CF | 868.5M | 2.4B | 3.4B | 3.1B | 52.4% | 2.5B | — | — | — |
| Inv CF | -808.4M | -551.7M | -352.7M | -1.5B | — | — | — | — | — |
| Fin CF | 597.6M | -1.5B | -860.5M | 740.4M | — | — | — | — | — |
17% above its 52-week low and back above a rising 50-day average since 13 Oct 2026.
The Momentum score still reads 47: it weighs six months of price and earnings revisions, so it trails a turn like this.
Calmer than 95% of stocks we rank over the past year (volatility 17% a year).
How this is worked out
The Price check reads only the chart, the price side of the Momentum score in words; it is not the MoatMap Score.
- Still falling: It set a new 52-week low in the last two weeks, after a deep fall.
- Finding a floor: It fell hard, but has set no new low for more than two weeks.
- Turning up (this stock): It has climbed off its low and is back above a rising 50-day average.
- In an uptrend: It is near its 52-week high and above its 200-day average.
- No clear trend: None of the above: no recent deep fall and no steady climb.
- No read yet: Not enough price history yet: it needs a year of trading.
In past US falls, waiting for Turning up cut the chance of another 20% drop from 42% to 33%. Returns were no better, and 33% of turns failed.
The exact rules
Still falling is a new 52-week low in the last two weeks, at least 25% below the high, with the low set after the high. Finding a floor is the same fall with no new low in the last two weeks. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average, with the 50-day average above the 200-day, and within 15% of the high. No clear trend is everything else. No read yet is under 252 trading days of history, or missing data. A new state shows once it has held for three trading days.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Industrials, ranked by industry match, size, and score similarity. Cross-listings of 600004.SS are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| 600004.SS | Guangzhou Baiyun International Airport Company Limited(you) | $3.0B | 55 |
| 000089.SZ | Shenzhen Airport Co., Ltd. | $2.0B | 52 |
| 600009.SS | Shanghai International Airport Co., Ltd. | $8.5B | 38 |
| 000099.SZ | CITIC Offshore Helicopter Co., Ltd. | $1.5B | 25 |
| 0694.HK | Beijing Capital International Airport Company Limited | $780M | 35 |
| 600897.SS | Xiamen International Airport Co.,Ltd | $867M | 87 |
| 0357.HK | Hainan Meilan International Airport Company Limited | $219M | 8 |
| 600499.SS | Keda Industrial Group Co., Ltd. | $3.0B | 57 |
| 600582.SS | Tiandi Science & Technology Co.Ltd | $3.1B | 56 |
| 002611.SZ | Guangdong Dongfang Precision Science & Technology Co., Ltd. | $2.6B | 55 |
Peer medians: ROE 5.3% · P/E 28.6x · Gross margin 21.9%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.