CHINA PETROLEUM & CHEMICAL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data CHINA PETROLEUM & CHEMICAL CORP files with the SEC in its annual reports.

In CNY millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Revenue	2,020,375	1,930,911	2,360,193	2,882,077	2,957,868	2,104,724	2,740,884	3,318,168
Research and development	5,654	5,941	6,423	7,996	9,451	10,087	11,481	12,773
Selling, general and administrative	69,491	64,360	64,973	65,770	54,390	53,668	54,978	55,809
Operating income	56,822	77,193	71,470	82,564	86,516	13,669	94,628	75,835
Pre-tax income	56,411	80,151	86,697	99,339	90,161	48,615	109,169	94,400
Income tax	12,613	20,707	16,279	20,278	18,054	6,344	23,318	18,757
Net income to minority interests	11,286	12,772	19,174	17,353	14,590	8,828	13,876	9,490
Net income	32,512	46,672	51,244	61,708	57,517	33,443	71,975	66,153
EBITDA	153,282	185,618	186,780	192,908	196,159	121,130	210,308	185,741
EPS, basic	0.27	0.39	0.42	0.51	0.48	0.28	0.59	0.55
EPS, diluted	0.27	0.39	0.42	0.51	0.48	0.28	0.59	0.55

Balance sheet

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Cash and equivalents	68,933	124,468	113,389	111,927	60,438	87,559	108,590	93,438
Receivables			84,701	64,879	54,375	35,439	34,861	46,364
Inventory		156,511	186,693	184,584	194,142	152,191	207,433	244,241
Total current assets		412,261	529,049	504,120	447,310	455,660	558,024	523,140
Property, plant and equipment	733,449	690,594	650,774	620,998	630,320	593,615	598,925	630,700
Lease right-of-use assets				271,969	268,160	266,012	268,408	264,856
Goodwill		6,353	8,634	8,676	8,697	8,620	8,594	6,464
Total assets	1,447,268	1,498,609	1,595,504	1,597,401	1,765,702	1,738,896	1,889,255	1,948,640
Accounts payable			206,535	192,757	200,023	161,908	215,640	269,424
Total current liabilities		485,543	579,446	565,098	579,978	522,995	641,280	667,385
Lease liabilities					177,674	171,740	170,233	166,407
Total liabilities	659,107	667,374	742,614	739,403	883,624	851,194	974,181	1,012,402
Retained earnings			326,125
Shareholders' equity		710,994	726,120	717,284	738,946	746,325	774,182	784,706
Minority interests		120,241	126,770	139,251	138,358	141,377	140,892	151,532
Total equity	788,161	831,235	852,890	857,998	882,078	887,702	915,074	936,238
Total liabilities and equity	1,447,268	1,498,609	1,595,504	1,592,308	1,760,286	1,738,896	1,889,255	1,948,640

Cash flow statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Net income	43,798	59,444	70,418	79,061	72,107	42,271	85,851	75,643
Depreciation and amortization	96,460	108,425	115,310	110,344	109,643	107,461	115,680	109,906
Cash from operations	165,740	214,543	190,935	175,937	154,380	168,520	225,174	116,269
Cash from investing	-116,719	-66,217	-145,323	-66,648	-121,314	-102,650	-145,198	-95,010
Debt issued	1,090,241	506,097	524,843	749,155	602,576	558,680	356,459	564,417
Debt repaid	-1,152,837	-569,091	-536,380	-774,572	-614,215	-540,015	-338,232	-514,275
Share buybacks								-4,179
Dividends paid	-24,214	-16,876	-32,689	-67,799	-46,008	-31,479	-35,110	-56,903
Cash from financing	9,093	-93,047	-56,509	-111,269	-84,702	-37,510	-57,942	-39,699
Exchange rate effect	293	256	-353	518	147	-1,239	-1,003	3,288

Key metrics

Worked out from the statements above. Latest values use fiscal 2022. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Operating margin	2.3%	Operating income / revenue.
EBITDA margin	5.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.8%	Pre-tax income / revenue.
Net margin	2.0%	Net income / revenue.
Operating cash flow margin	3.5%	Cash from operations / revenue.
Effective tax rate	19.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.4%	Net income / average total assets.
Return on invested capital (ROIC)	9.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	0.4%	Research and development expense / revenue.
SG&A / revenue	1.7%	Selling, general and administrative expense / revenue.
D&A / revenue	3.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	21.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-19.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-4.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	1.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-11.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-1.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-0.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-8.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	4.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-6.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	5.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	5.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-48.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-9.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-9.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.78x	Current assets / current liabilities.
Quick ratio	0.21x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.14x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	52.0%	Total liabilities / total assets.
Working capital	-CN¥144.25B	Current assets - current liabilities.
Goodwill and intangibles / assets	0.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	CN¥778.24B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.73x	Revenue / average total assets.
Fixed asset turnover	5.40x	Revenue / average property, plant and equipment.
Receivables turnover	81.7x	Revenue / average receivables.
Days sales outstanding	4 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	CN¥0.55	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	CN¥0.55	Net income per basic share, as reported (split-adjusted).
Payout ratio	86.0%	Dividends paid / net income, when net income is positive.

What was CHINA PETROLEUM & CHEMICAL CORP's revenue in fiscal 2022?

CHINA PETROLEUM & CHEMICAL CORP reported revenue of CN¥3.32T for fiscal 2022, 21.1% higher than the year before.

Was CHINA PETROLEUM & CHEMICAL CORP profitable in fiscal 2022?

Yes. Net income was CN¥66.15B, a net margin of 2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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