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CNOOCSHSE:600938 -0.58%77 5-Year Yield-on-Cost % is 8.80 as of Sep. 01, 2026, which is 50% below its 10-year median of 17.55. GuruFocus rates SHSE:600938 with a GF Score™ of 77/100 and a GF Value™ of ¥28.03 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 501 Oil & Gas companies, CNOOC ranks better than 85.83% on this metric.
CNOOC's yield on cost for the quarter that ended in Mar. 2026 was 8.80.
The historical rank and industry rank for CNOOC's 5-Year Yield-on-Cost % or its related term are showing as below:
SHSE:600938'
s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 7.39 Med: 17.55 Max: 34.4
Current: 8.8
During the past 13 years, CNOOC's highest Yield on Cost was 34.40. The lowest was 7.39. And the median was 17.55.
SHSE:600938's 5-Year Yield-on-Cost % is ranked better than 85.83% of 501
companies
in the Oil & Gas industry
Industry Median: 4.84
vs SHSE:600938: 8.80
Of course the risk here is that the company may not raise its dividends as it did before. The key is to select the companies that can consistently raise its dividends. Usually companies with long history of raising dividends tend to do so.
CNOOC 5-Year Yield-on-Cost % Related Terms
SHSE:600938 vs COP, EOG, OXY: 5-Year Yield-on-Cost % Comparison
For the Oil & Gas E&P subindustry, CNOOC's 5-Year Yield-on-Cost %, along with its competitors' market caps and 5-Year Yield-on-Cost % 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.
CNOOC 5-Year Yield-on-Cost % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, CNOOC's 5-Year Yield-on-Cost % distribution charts can be found below:
* The bar in red indicates where CNOOC's 5-Year Yield-on-Cost % falls into.
Dividend Yield % and dividend growth of a stock is an important factor for income investors. But if company A raises its dividend constantly faster than company B, company A's future dividend yield might be much higher than Company B's even if their yields are the same now and their stock prices do not change.
Yield on Cost assumes that you buy and the stock today, and hold it for 5 years. If the company raises it dividends at the same rate as it did over the past 5 years, the dividends investors receive annually in 5 years relative to the stock price today.
Therefore, Yield-on-Cost of CNOOC is calculated as
CNOOC (SHSE:600938) has a 5-Year Yield-on-Cost % of 8.80 as of Sep. 01, 2026. 5-Year Yield on Cost measures the expected yield based on a company's current yield and 5-year dividend growth. View historical data on CNOOC and its competitors. This is 50% below median its historical median of 17.55. Over the past decade, CNOOC's 5-Year Yield-on-Cost % has ranged from 7.39 to 34.40. According to the industry distribution chart, CNOOC ranks #71 out of 501 companies in the Oil & Gas industry, placing it in the top 14.2%.
Is CNOOC's 5-Year Yield-on-Cost % too high?
CNOOC's current 5-Year Yield-on-Cost % of 8.80 is 50% below median its 10-year median of 17.55. Over the past 10 years, this metric has ranged from a low of 7.39 to a high of 34.40. The Oil & Gas industry median 5-Year Yield-on-Cost % is 4.84. CNOOC's value of 8.80 is 81.8% above this industry median. Based on the distribution chart, CNOOC ranks #71 out of 501 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, CNOOC has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CNOOC's 5-Year Yield-on-Cost % compare to COP and EOG?
According to the Oil & Gas industry distribution chart, CNOOC ranks #71 out of 501 companies for 5-Year Yield-on-Cost %. This places CNOOC in the top 14% of its industry — outperforming the majority of peers. The industry median 5-Year Yield-on-Cost % is 4.84. CNOOC's value of 8.80 is 81.8% above this benchmark. Historically, CNOOC's own 5-Year Yield-on-Cost % has ranged from 7.39 to 34.40 over the past decade. While the company's 10-year median is 17.55 vs. the industry median of 4.84, CNOOC 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 5-Year Yield-on-Cost % for an Oil & Gas company?
The median 5-Year Yield-on-Cost % among Oil & Gas companies is 4.84, based on 501 companies in the industry. Companies in the top quartile (top 25%) have a 5-Year Yield-on-Cost % significantly above this median, while those in the bottom quartile fall well below. However, 5-Year Yield-on-Cost % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. CNOOC's current 5-Year Yield-on-Cost % of 8.80 is 81.8% 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 5-Year Yield-on-Cost % mean?
A high 5-Year Yield-on-Cost % can signal that a stock is expensive relative to its fundamentals. 5-Year Yield on Cost measures the expected yield based on a company's current yield and 5-year dividend growth. View historical data on CNOOC and its competitors. For the Oil & Gas industry, the median 5-Year Yield-on-Cost % is 4.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CNOOC's current 5-Year Yield-on-Cost % is 8.80, which is 50% below median its own 10-year median of 17.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CNOOC stock overvalued right now?
Based on GuruFocus' analysis, CNOOC (SHSE:600938) is currently considered Modestly Overvalued. The stock's GF Value™ is ¥28.03, compared to a current price of ¥34.51 — trading 23.1% above its estimated fair value. The current 5-Year Yield-on-Cost % is 8.80, which is 50% below median its 10-year median of 17.55 and 81.8% above the Oil & Gas industry median of 4.84. CNOOC's overall GF Score™ is 77/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 5-Year Yield-on-Cost % calculated?
5-Year Yield-on-Cost % is calculated from a company's financial statements. For CNOOC (SHSE:600938), the current 5-Year Yield-on-Cost % is 8.80 as of Sep. 01, 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 CNOOC (SHSE:600938) Overvalued in 2026?
Based on GuruFocus' analysis, CNOOC stock appears to be overvalued.
The current stock price of ¥34.51 is trading 23.1% above its estimated GF Value™ of ¥28.03.
GuruFocus considers CNOOC to be Modestly Overvalued.
Key valuation signals for SHSE:600938:
5-Year Yield-on-Cost %: 8.80 (50% below median its 10-year median of 17.55)
GF Value™: ¥28.03 vs. price of ¥34.51 (23.1% above fair value)
Industry Position: 81.8% above the Oil & Gas median (#71 of 501)
No single metric tells the full story. See the SHSE:600938 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Net production for 2025 reached 777.3 million barrels of oil equivalent (77.2% oil), and year-end proven reserves were 7.77 billion barrels of oil equivalent. Assets outside China make up around 30.9% of production.
77GF Score
Get the complete analysis for SHSE:600938
5-Year Yield-on-Cost % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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