CNOOC Limited

600938 · SHG · Energy / Oil & Gas E&P

30.85CNY+0.62 (+2.05%)

Price History

Full chart

Market Stats

Previous Close30.23

Open30.50

Day Range30.40 – 30.97

52-Week Range25.35 – 42.76

Volume50.97M

Market Cap1.71T

P/E (TTM)12.32

Forward P/E12.80

EPS2.92

Dividend Yield3.59%

Beta0.38

50-Day Avg33.95

200-Day Avg34.82

About

CNOOC Limited, an investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas in worldwide. The company produces offshore crude oil and natural gas primarily in Bohai Sea, the Western South China Sea, the Eastern South China Sea, and the East China Sea in China. It also holds interests in various oil and gas assets in Asia, Africa, North America, South America, Oceania, and Europe. In addition, the company is involved in the sales and trading of petroleum and natural gas; oil sands exploration, development, and production; and exploration, development, and production of unconventional natural gas resources in onshore China, as well as in shale oil and gas activities. The company was incorporated in 1999 and is based in Hong Kong. CNOOC Limited operates as a subsidiary of CNOOC (BVI) LTD.

Company Details

SectorEnergy
IndustryOil & Gas E&P
CEOMr. Yongzhang Huang
Employees22.05K
HeadquartersBank of China Tower, Hong Kong, Hong Kong, 999077, China
Websitehttps://www.cnoocltd.com

Leadership

Ms. Xiuping MuSenior VP & CFO · b. 1974
Mr. Yugao XuGeneral Counsel, Compliance Officer & Joint Company Secretary · b. 1969
Mr. Changgui XuChief Geologist · b. 1971
Mr. Hongtao YanSenior Vice President · b. 1970
Mr. Fu Jie SunVice President · b. 1965
Mr. Yongzhang HuangCEO, President & Executive Vice Chairman · b. 1966
Ms. Jing LiuManager of Media & Public Relations
Mr. Jin YuSenior VP & Chief Safety Officer
Ms. Sik Yu Tsue CPAJoint Company Secretary · b. 1973
Mr. Lv Xiong KeVice President · b. 1964

Financials

Income Statement

Currency: CNY	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: CNY	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Revenue	9.31B	15.31B	24.19B	20.82B	26.37B	40.95B	55.22B	69.48B	88.87B	90.85B	125.98B	105.20B	183.56B	244.08B	248.66B	286.17B	273.14B	171.59B	146.05B	186.40B	227.71B	233.20B	155.37B	246.11B	422.23B	416.61B	420.51B	396.18B
Growth (%)	-	+64.41%	+58.01%	-13.94%	+26.68%	+55.27%	+34.85%	+25.81%	+27.92%	+2.23%	+38.66%	-16.50%	+74.49%	+32.97%	+1.88%	+15.08%	-4.55%	-37.18%	-14.89%	+27.63%	+22.17%	+2.41%	-33.37%	+58.40%	+71.56%	-1.33%	+0.94%	-5.79%
Cost of Revenue	1.43B	3.74B	7.21B	4.78B	6.10B	4.51B	5.07B	5.94B	22.26B	17.11B	53.79B	39.30B	80.22B	115.94B	110.76B	83.40B	79.09B	48.21B	42.23B	51.92B	57.95B	53.77B	35.91B	44.63B	88.95B	108.75B	88.26B	186.90B
Gross Profit	7.88B	11.57B	16.98B	16.04B	20.27B	36.44B	50.15B	63.54B	66.61B	73.75B	72.18B	65.89B	103.34B	128.13B	137.90B	202.77B	194.05B	123.38B	103.82B	134.47B	169.76B	179.42B	119.46B	201.49B	333.28B	307.86B	332.24B	209.28B
Gross Margin	84.62%	75.59%	70.19%	77.03%	76.86%	88.98%	90.82%	91.46%	74.95%	81.17%	57.30%	62.64%	56.30%	52.50%	55.46%	70.86%	71.04%	71.90%	71.09%	72.14%	74.55%	76.94%	76.89%	81.87%	78.93%	73.90%	79.01%	52.82%
Operating Expense	6.12B	6.18B	4.72B	5.11B	7.49B	20.75B	27.77B	27.36B	23.59B	32.49B	18.32B	25.57B	32.19B	37.53B	50.76B	124.26B	113.14B	105.93B	106.23B	97.42B	89.60B	95.23B	83.07B	105.51B	139.96B	140.09B	147.54B	34.05B
Operating Income	1.76B	5.39B	12.26B	10.93B	12.78B	15.68B	22.39B	36.18B	43.02B	41.26B	53.87B	40.32B	71.14B	90.61B	87.14B	78.50B	80.92B	17.46B	-2.41B	37.05B	80.17B	84.19B	36.39B	95.98B	193.32B	167.77B	184.71B	175.22B
Operating Margin	18.85%	35.20%	50.67%	52.51%	48.45%	38.30%	40.54%	52.08%	48.40%	45.41%	42.76%	38.33%	38.76%	37.12%	35.04%	27.43%	29.62%	10.17%	-1.65%	19.88%	35.21%	36.10%	23.42%	39.00%	45.79%	40.27%	43.92%	44.23%
EBITDA	3.71B	7.76B	14.83B	13.50B	16.80B	20.34B	28.01B	41.53B	54.67B	47.80B	68.35B	57.30B	99.61B	123.57B	123.57B	138.69B	147.30B	96.53B	80.62B	110.86B	136.62B	148.56B	97.42B	162.37B	259.71B	244.75B	267.18B	258.84B
EBITDA Margin	39.84%	50.70%	61.32%	64.84%	63.72%	49.66%	50.73%	59.78%	61.52%	52.61%	54.26%	54.47%	54.27%	50.63%	49.69%	48.47%	53.93%	56.26%	55.20%	59.48%	60.00%	63.71%	62.70%	65.98%	61.51%	58.75%	63.54%	65.33%
Net Income	1.55B	4.11B	10.28B	7.96B	9.23B	11.54B	16.19B	25.33B	30.90B	31.30B	44.38B	29.49B	54.41B	70.25B	63.69B	56.46B	60.20B	20.25B	637.00M	24.68B	52.67B	61.05B	24.96B	70.32B	141.70B	123.84B	137.94B	122.08B
Net Income Margin	16.64%	26.85%	42.51%	38.22%	35.01%	28.17%	29.31%	36.46%	34.77%	34.45%	35.22%	28.03%	29.64%	28.78%	25.61%	19.73%	22.04%	11.80%	0.44%	13.24%	23.13%	26.18%	16.06%	28.57%	33.56%	29.73%	32.80%	30.82%
R&D	584.07M	246.40M	-	1.04B	-	-	-	-	-	-	-	-	-	-	-	1.28B	1.82B	1.63B	1.42B	1.74B	2.35B	1.63B	2.70B	2.93B	3.47B	4.14B	3.44B	3.11B
R&D as % of Total Revenue	6.27%	1.61%	-	4.99%	-	-	-	-	-	-	-	-	-	-	-	0.45%	0.67%	0.95%	0.98%	0.93%	1.03%	0.70%	1.74%	1.19%	0.82%	0.99%	0.82%	0.79%
Interest Expense	-	-	474.38M	116.63M	294.79M	354.94M	441.82M	1.10B	1.83B	103.21M	36.04M	534.54M	459.63M	438.00M	282.00M	1.55B	2.39B	3.68B	4.06B	2.90B	2.60B	3.07B	3.55B	3.20B	3.13B	2.42B	2.81B	2.67B
Interest Expense % of Total Revenue	-	-	1.96%	0.56%	1.12%	0.87%	0.80%	1.58%	2.06%	0.11%	0.03%	0.51%	0.25%	0.18%	0.11%	0.54%	0.87%	2.15%	2.78%	1.56%	1.14%	1.32%	2.28%	1.30%	0.74%	0.58%	0.67%	0.67%

Balance Sheet

Currency: CNY	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: CNY	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Assets	21.32B	26.17B	32.56B	44.32B	61.10B	73.50B	94.08B	114.80B	155.14B	180.05B	206.67B	242.27B	327.93B	384.26B	456.07B	621.47B	662.86B	664.36B	637.68B	617.22B	686.38B	757.73B	721.27B	786.57B	929.03B	1.01T	1.06T	1.10T
Total Liabilities	14.97B	17.78B	16.45B	11.01B	20.53B	26.77B	37.36B	41.17B	47.41B	45.54B	46.43B	68.33B	112.16B	121.41B	146.29B	279.85B	283.25B	278.32B	255.31B	237.24B	266.47B	309.50B	287.35B	304.59B	330.65B	337.72B	306.85B	293.38B
Total Equity	6.36B	8.38B	16.10B	33.31B	40.57B	46.74B	56.72B	73.63B	107.68B	134.51B	160.24B	173.94B	215.77B	262.86B	309.78B	341.62B	379.61B	386.04B	382.37B	379.98B	419.90B	448.19B	433.71B	480.91B	597.18B	666.59B	747.55B	802.75B
Cash	425.78M	878.88M	2.79B	6.39B	7.84B	14.40B	14.09B	8.99B	14.35B	23.39B	19.76B	22.62B	39.57B	23.68B	55.02B	14.32B	14.92B	11.87B	13.73B	12.57B	14.99B	33.68B	24.02B	41.43B	121.39B	133.44B	154.20B	78.68B
Total Debt	10.03B	9.10B	5.74B	4.49B	5.31B	9.05B	17.20B	17.39B	20.32B	11.06B	13.88B	18.69B	33.35B	37.99B	57.89B	131.85B	136.56B	164.65B	150.48B	132.25B	139.52B	157.23B	143.55B	135.14B	134.40B	120.18B	91.89B	69.80B
Net Debt	9.60B	8.22B	2.95B	-1.91B	-2.53B	-5.35B	3.11B	8.39B	5.97B	-12.33B	-5.88B	-3.92B	-6.22B	14.32B	2.86B	117.53B	121.64B	152.78B	136.74B	119.68B	124.53B	123.55B	119.53B	93.71B	13.01B	-15.48B	-62.31B	-8.88B

Cash Flow

Currency: CNY	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: CNY	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Operating Cash Flow	3.94B	7.32B	9.15B	7.49B	14.60B	17.82B	22.33B	32.16B	39.19B	41.30B	55.74B	49.62B	70.88B	116.17B	92.57B	110.89B	110.51B	80.09B	72.86B	94.73B	124.40B	123.52B	82.34B	147.89B	205.57B	209.74B	220.89B	209.04B
Investing Cash Flow	-2.95B	-4.44B	-7.85B	-11.37B	-11.72B	-9.51B	-24.61B	-29.36B	-39.49B	-21.37B	-48.98B	-37.31B	-64.20B	-99.04B	-63.80B	-170.03B	-90.18B	-76.50B	-27.95B	-64.41B	-95.45B	-67.46B	-50.85B	-96.23B	-98.47B	-78.09B	-175.43B	-
Financing Cash Flow	-894.65M	-2.43B	619.31M	7.47B	-1.43B	-1.74B	1.97B	-7.79B	6.03B	-10.80B	-10.13B	-9.40B	-1.61B	-20.25B	2.58B	18.60B	-19.49B	-6.89B	-43.24B	-31.27B	-27.11B	-37.69B	-38.70B	-33.33B	-64.96B	-84.23B	-97.94B	-
Capital Expenditure	3.58B	4.07B	4.40B	4.34B	6.83B	8.27B	18.62B	17.47B	44.18B	26.94B	37.41B	40.39B	39.64B	52.77B	63.04B	86.72B	95.67B	67.67B	51.35B	47.73B	51.27B	72.01B	75.42B	82.44B	94.75B	120.95B	123.36B	111.56B
Free Cash Flow	365.98M	3.25B	4.75B	3.15B	7.76B	9.55B	3.71B	14.69B	-4.99B	14.36B	18.32B	9.23B	31.24B	63.40B	29.53B	24.17B	14.84B	12.42B	21.52B	47.00B	73.13B	51.51B	6.92B	65.46B	110.82B	92.38B	97.53B	97.49B
Dividends Paid	-	-	-	-	2.27B	5.40B	6.10B	7.77B	9.81B	11.52B	14.65B	14.18B	14.39B	20.88B	15.63B	20.23B	20.22B	20.42B	14.15B	16.45B	23.52B	28.97B	25.85B	20.47B	77.38B	58.29B	60.87B	60.43B
FCF to OCF	9.28%	44.43%	51.95%	42.03%	53.19%	53.58%	16.60%	45.67%	-12.72%	34.77%	32.88%	18.60%	44.08%	54.57%	31.90%	21.80%	13.42%	15.51%	29.53%	49.61%	58.79%	41.70%	8.40%	44.26%	53.91%	44.05%	44.15%	46.64%
Dividend Paid to FCF	-	-	-	-	29.17%	56.60%	164.64%	52.93%	-196.63%	80.26%	79.96%	153.56%	46.06%	32.93%	52.94%	83.67%	136.27%	164.39%	65.78%	35.00%	32.17%	56.25%	373.57%	31.28%	69.82%	63.09%	62.41%	61.99%

Earnings

Report Date	Apr 29, 2022	Aug 25, 2022	Oct 27, 2022	Apr 11, 2023	Oct 24, 2023	Mar 21, 2024
EPS Estimate	-	0.69	0.60	1.14	0.60	1.01
EPS Actual	0.77	0.82	0.76	0.69	0.71	0.55
Surprise	-	19.00%	26.67%	-39.47%	18.33%	-45.54%
Timing	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market	Pre-market

Key Statistics & Ratios

Market Cap1.71T

Enterprise Value784.16B

Trailing P/E12.32

Forward P/E12.80

Price / Sales3.87

Price / Book2.00

EPS2.92

Book Value17.83

Revenue (TTM)441.29B

Gross Profit (TTM)338.67B

EBITDA274.00B

Profit Margin31.55%

Operating Margin46.67%

Return on Equity17.01%

Return on Assets10.30%

Shares Outstanding2.99B

Shares Float17.18B

Beta0.38

Dividend Yield3.59%

Dividend Rate1.29

Payout Ratio43.53%

Dividends

20262×

0.81Oct 16, 20260.48Jul 10, 2026

20252×

0.67Oct 17, 20250.61Jul 11, 2025

20242×

0.68Oct 18, 20240.60Jul 12, 2024

20232×

0.54Oct 18, 20230.68Jul 14, 2023

20222×

0.61Oct 13, 20221.01Jul 15, 2022