PCCYFOTCCrude Petroleum & Natural GasFiscal year ends December 31Also trades as PTCCY
PETROCHINA CO LTD
Financials through fiscal 2022, year ended Dec 31, 2022Last filing: 20-F on Apr 28, 2023
$1.22+0.01 (+0.83%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2014 to 2022
Operating margin
6.7%+3.2 pts over 5 years
Net margin
4.6%+3.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2022
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +23.9% | +8.8% | +9.8% | – | |
| Operating income | +34.4% | +21.2% | +25.1% | – | |
| Net income | +62.1% | +48.4% | +44.7% | – | |
| Free cash flow | +88.4% | +55.6% | +1.6% | – | |
| Dividend per share | +128.6% | +49.4% | +29.4% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2014 | FY2017 | FY2022 | Trend |
|---|---|---|---|---|
| Return on equity | – | 2.0% | 11.3% | |
| Return on assets | – | 1.0% | 5.8% | |
| Current ratio | – | 0.74 | 0.98 | |
| Debt to equity | – | 0.39 | 0.24 | |
| Interest coverage | – | 3.1× | 10.1× | |
| Capex to revenue | – | 11.3% | 7.5% | |
| Diluted shares | – | 183.02B | 183.02B |
Where the cash went
Fiscal 2018 to 2022, five years combined
Petrochina generated CN¥1.77T from operations and spent CN¥1.59T on capital expenditure, dividends and share buybacks. 84% of that went back into the business.
Generated
CN¥1.77T
Used
CN¥1.59T
Capital expenditureCN¥1.34T84%DividendsCN¥250.90B16%Share buybacksCN¥00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.6%
×Asset turnover1.25×
×Equity multiplier1.97×
=Return on equity, FY202211.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2022 | 4.6% | 1.25× | 1.97× | 11.3% |
| FY2021 | 3.5% | 1.05× | 2.01× | 7.4% |
| FY2020 | 1.0% | 0.74× | 2.14× | 1.6% |
| FY2019 | 1.8% | 0.97× | 2.12× | 3.7% |
| FY2018 | 2.2% | 0.98× | 2.02× | 4.4% |
| FY2017 | 1.2% | 0.85× | 2.02× | 2.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2022 against fiscal 2021
8of 8 tests passed in fiscal 2022. Some tests lack the figures they need.
- ProfitableNet income above zeroCN¥149.38B
- Cash generatingOperating cash flow above zeroCN¥393.77B
- Return on assets improvedROA up on the prior year3.7% → 6.0%
- Earnings backed by cashOperating cash flow above net incomeCN¥393.77B vs CN¥149.38B
- Less leverageLong-term debt to assets fell11.5% → 8.3%
- Better liquidityCurrent ratio rose0.93 → 0.98
- No dilutionShare count did not rise183.02B → 183.02B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.05 → 1.29