600897.SS
Unloved QualityAI neutralXiamen International Airport Co.,Ltd · Industrials · China · $867M cap · $6.8M/day traded
CNY 14.19 +0.3% · close 12 Nov · scored 13 Nov
Unloved Quality: Strong and cheap, but the market has not warmed to it.
As of 13 Nov 2026, the MoatMap Score for Xiamen International Airport Co.,Ltd (600897.SS) is 87/100, ranked against 25,000+ stocks in 38 markets (Quality 74, Value 70, Momentum 45, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
Xiamen International Airport operates a regional hub in Fujian with steady aeronautical and commercial income and a reasonable valuation. Airports have local monopoly traits, but fees are regulated, growth is tied to Chinese domestic travel and cross-strait traffic, and capital needs for expansion are heavy. There is no clear catalyst that the market has not already priced.
ABOUT XIAMEN INTERNATIONAL AIRPORT CO.,LTD
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Xiamen International Airport Co. operates Xiamen Gaoqi International Airport, a major aviation hub in Southeast China and a key gateway to Taiwan and Southeast Asia. The company enjoys a natural geographic monopoly over air traffic in the southern Fujian region, generating stable aeronautical and non-aeronautical revenues. It is characterized by high operating margins and efficient management, though capacity is constrained pending the completion of a new regional airport.
FINANCIAL SUMMARY (CNY)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.0B | 1.7B | 1.9B | 2.1B | 27.2% | 2.3B | 2.0B | — | -1.9% |
| EPS (CNY) | 0.07 | 0.85 | 1.03 | 1.24 | 160.7% | 1.16 | 1.30 | 1.36 | 4.9% |
| Shares | 416.9M | 416.9M | 416.9M | 416.9M | 0.0% | 416.9M | — | — | — |
| Debt | 119.9M | 181.9M | 127.5M | 64.2M | -18.8% | 213.2M | — | — | — |
| Equity | 3.8B | 4.1B | 4.5B | 4.9B | 8.3% | — | — | — | — |
| Op CF | 165.1M | 613.2M | 702.0M | 800.3M | 69.3% | 453.6M | — | — | — |
| Inv CF | -241.8M | -417.1M | -504.8M | -556.4M | — | — | — | — | — |
| Fin CF | -68.9M | -123.1M | -175.2M | -234.9M | — | — | — | — | — |
Made a new 52-week low 9 trading days ago, 35% below its 52-week high. The fall has not stopped yet.
Calmer than 63% of stocks we rank over the past year (volatility 35% 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 (this stock): 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: 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 600897.SS are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| 600897.SS | Xiamen International Airport Co.,Ltd(you) | $867M | 87 |
| 000089.SZ | Shenzhen Airport Co., Ltd. | $2.0B | 52 |
| 0694.HK | Beijing Capital International Airport Company Limited | $780M | 35 |
| 600004.SS | Guangzhou Baiyun International Airport Company Limited | $3.0B | 55 |
| 000099.SZ | CITIC Offshore Helicopter Co., Ltd. | $1.5B | 25 |
| 600009.SS | Shanghai International Airport Co., Ltd. | $8.5B | 38 |
| 603173.SS | Hangzhou Fortune Gas Cryogenic Group Co., Ltd. | $745M | 89 |
| 603111.SS | Nanjing Kangni Mechanical & Electrical Co.,Ltd | $790M | 84 |
| 1065.HK | Tianjin Capital Environmental Protection Group Company Limited | $701M | 86 |
| 000957.SZ | Zhongtong Bus Holding Co.,LTD | $804M | 83 |
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.