China Tourism Group Duty Free (SHSE:601888) FCF Margin %: 21.27% (As of Mar. 2026) — 136% Above Median

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SHSE:601888 China Tourism Group Duty Free Corp Ltd SHSE:601888
81 GF Score
Price ¥54.06
GF Value ¥68.42
Valuation Modestly Undervalued
! 5 Warning Signs
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What is China Tourism Group Duty Free FCF Margin %?

China Tourism Group Duty Free SHSE:601888 -1.66% 81 FCF Margin % is 21.27% as of Mar. 2026, which is 136% above its 10-year median of 9.02. GuruFocus rates SHSE:601888 with a GF Score™ of 81/100 and a GF Value™ of ¥68.42 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,129 Retail - Cyclical companies, China Tourism Group Duty Free ranks better than 66.52% on this metric.

FCF Margin % is calculated as Free Cash Flow divided by its Revenue. China Tourism Group Duty Free's Free Cash Flow for the three months ended in Mar. 2026 was ¥3,597 Mil. China Tourism Group Duty Free's Revenue for the three months ended in Mar. 2026 was ¥16,906 Mil. Therefore, China Tourism Group Duty Free's FCF Margin % for the quarter that ended in Mar. 2026 was 21.27%.

As of today, China Tourism Group Duty Free's current FCF Yield % is 3.45%.

The historical rank and industry rank for China Tourism Group Duty Free's FCF Margin % or its related term are showing as below:

SHSE:601888' s FCF Margin % Range Over the Past 10 Years
Min: -11.78   Med: 9.02   Max: 19.73
Current: 7.11


During the past 13 years, the highest FCF Margin % of China Tourism Group Duty Free was 19.73%. The lowest was -11.78%. And the median was 9.02%.

SHSE:601888's FCF Margin % is ranked better than
66.52% of 1129 companies
in the Retail - Cyclical industry
Industry Median: 3.13 vs SHSE:601888: 7.11


China Tourism Group Duty Free FCF Margin % Related Terms


China Tourism Group Duty Free FCF Margin % Historical Data

* Premium members only.

The historical data trend for China Tourism Group Duty Free's FCF Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

China Tourism Group Duty Free FCF Margin % Chart

China Tourism Group Duty Free Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
FCF Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.12 -11.78 19.73 12.08 8.91

China Tourism Group Duty Free Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
FCF Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 27.18 -21.36 3.52 16.32 21.27

SHSE:601888 vs CASY, WSM, ULTA: FCF Margin % Comparison

For the Specialty Retail subindustry, China Tourism Group Duty Free's FCF Margin %, along with its competitors' market caps and FCF Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


China Tourism Group Duty Free FCF Margin % vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, China Tourism Group Duty Free's FCF Margin % distribution charts can be found below:

* The bar in red indicates where China Tourism Group Duty Free's FCF Margin % falls into.


SHSE:601888
81GF Score
China Tourism Group Duty Free Corp Ltd SHSE:601888
FCF Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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China Tourism Group Duty Free FCF Margin % Calculation

FCF margin is the ratio of Free Cash Flow divided by net sales or Revenue, usually presented in percent.

China Tourism Group Duty Free's FCF Margin for the fiscal year that ended in Dec. 2025 is calculated as

FCF Margin=Free Cash Flow (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=4785.498/53693.579
=8.91 %

China Tourism Group Duty Free's FCF Margin for the quarter that ended in Mar. 2026 is calculated as

FCF Margin=Free Cash Flow (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=3596.713/16906.022
=21.27 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about FCF Margin % →
What does a FCF Margin % of 21.27% mean?
China Tourism Group Duty Free (SHSE:601888) has a FCF Margin % of 21.27% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on China Tourism Group Duty Free and its competitors. This is 136% above median its historical median of 9.02. According to the industry distribution chart, China Tourism Group Duty Free ranks #378 out of 1129 companies in the Retail - Cyclical industry, placing it in the top 33.5%.
Is China Tourism Group Duty Free's FCF Margin % too high?
China Tourism Group Duty Free's current FCF Margin % of 21.27% is 136% above median its 10-year median of 9.02. The Retail - Cyclical industry median FCF Margin % is 3.13. China Tourism Group Duty Free's value of 21.27% is 579.6% above this industry median. Based on the distribution chart, China Tourism Group Duty Free ranks #378 out of 1129 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, China Tourism Group Duty Free has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Tourism Group Duty Free's FCF Margin % compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, China Tourism Group Duty Free ranks #378 out of 1129 companies for FCF Margin %. This puts China Tourism Group Duty Free in the upper half of its industry. The industry median FCF Margin % is 3.13. China Tourism Group Duty Free's value of 21.27% is 579.6% above this benchmark. While the company's 10-year median is 9.02 vs. the industry median of 3.13, China Tourism Group Duty Free has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Retail - Cyclical company?
The median FCF Margin % among Retail - Cyclical companies is 3.13, based on 1,129 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. China Tourism Group Duty Free's current FCF Margin % of 21.27% is 579.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on China Tourism Group Duty Free and its competitors. For the Retail - Cyclical industry, the median FCF Margin % is 3.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Tourism Group Duty Free's current FCF Margin % is 21.27%, which is 136% above median its own 10-year median of 9.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Tourism Group Duty Free stock overvalued right now?
Based on GuruFocus' analysis, China Tourism Group Duty Free (SHSE:601888) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥68.42, compared to a current price of ¥54.06 — trading 21% below its estimated fair value. The current FCF Margin % is 21.27%, which is 136% above median its 10-year median of 9.02 and 579.6% above the Retail - Cyclical industry median of 3.13. China Tourism Group Duty Free's overall GF Score™ is 81/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For China Tourism Group Duty Free (SHSE:601888), the current FCF Margin % is 21.27% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is China Tourism Group Duty Free (SHSE:601888) Overvalued in 2026?

Based on GuruFocus' analysis, China Tourism Group Duty Free stock appears to be undervalued. The current stock price of ¥54.06 is trading 21% below its estimated GF Value™ of ¥68.42. GuruFocus considers China Tourism Group Duty Free to be Modestly Undervalued.

Key valuation signals for SHSE:601888:

  • FCF Margin %: 21.27% (136% above median its 10-year median of 9.02)
  • GF Value™: ¥68.42 vs. price of ¥54.06 (21% below fair value)
  • GF Score™: 81/100 with 5 warning signs
  • Industry Position: 579.6% above the Retail - Cyclical median (#378 of 1129)

No single metric tells the full story. See the SHSE:601888 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


China Tourism Group Duty Free Business Description

Other Exchanges 01880:Hong Kong
Address No. 2A, Dongzhimenwai Street, 8th Floor, Building A, Dongcheng District, Beijing, CHN, 100027
Established in 1984, China Tourism Group Duty Free is China's largest and the world's second-largest travel retailer in 2025 with revenue of CNY 54 billion. The company primarily operates duty-free stores at airports, border crossings, offshore, downtown, and on flights, cruises and ships, with about 200 stores spanning over 33 provinces in China, as well as overseas. The company also operates a duty-paid business. Its 2025 revenue mix was 73% duty-free sales and 27% duty-paid sales and others. CTG Duty Free is 50% owned by China Tourism Group, a state-owned enterprise that falls directly under the State-owned Assets Supervision and Administration Commission of the State Council.
81GF Score

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FCF Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

¥54.06
Price
¥68.42
GF Value