G 
Guangdong TCL Smart Home Appliances Co 002668.SZ · CNY
Consumer Discretionary · Shenzhen · 🇨🇳 China
8.52
+1.31%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥18.49bn
FY2016FY2025
Net income
CN¥1.12bn
FY2016FY2025
Free cash flow
CN¥1.82bn
FY2016FY2025
Shareholders' equity
CN¥3.54bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥18.49bn | CN¥18.36bn | CN¥15.18bn | CN¥11.66bn | CN¥10.12bn | CN¥8.35bn | CN¥7.39bn | CN¥7.80bn | CN¥6.96bn | CN¥5.04bn |
| Gross profit | CN¥4.55bn | CN¥4.15bn | CN¥3.48bn | CN¥2.26bn | CN¥2.10bn | CN¥1.88bn | CN¥1.83bn | CN¥2.37bn | CN¥1.92bn | CN¥1.58bn |
| Research and development | CN¥624.0m | CN¥642.7m | CN¥542.1m | CN¥471.0m | CN¥357.1m | CN¥303.6m | CN¥251.2m | CN¥336.9m | CN¥248.1m | CN¥209.5m |
| Operating income | CN¥2.44bn | CN¥2.25bn | CN¥1.79bn | CN¥1.11bn | CN¥508.4m | −CN¥321.3m | CN¥380.2m | −CN¥1.56bn | CN¥457.5m | CN¥476.9m |
| Net income | CN¥1.12bn | CN¥1.02bn | CN¥786.6m | CN¥464.4m | −CN¥79.9m | −CN¥987.5m | CN¥53.3m | −CN¥1.90bn | CN¥381.5m | CN¥304.8m |
| Diluted earnings per share | 1.04 | 0.94 | 0.74 | 0.44 | -0.06 | -0.98 | 0.05 | -1.79 | 0.36 | 0.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥15.64bn | CN¥14.89bn | CN¥12.57bn | CN¥6.59bn | CN¥7.14bn | CN¥8.83bn | CN¥8.78bn | CN¥9.55bn | CN¥10.41bn | CN¥5.33bn |
| Cash and short-term investments | CN¥5.99bn | CN¥3.30bn | CN¥3.54bn | CN¥2.65bn | CN¥3.29bn | CN¥4.78bn | CN¥3.07bn | CN¥2.72bn | CN¥1.40bn | CN¥1.59bn |
| Total liabilities | CN¥10.77bn | CN¥11.35bn | CN¥10.19bn | CN¥4.81bn | CN¥5.63bn | CN¥7.01bn | CN¥6.22bn | CN¥7.19bn | CN¥6.95bn | CN¥3.11bn |
| Debt | CN¥4.64bn | CN¥842.2m | CN¥893.2m | CN¥759.4m | CN¥656.6m | CN¥1.46bn | CN¥2.58bn | CN¥3.28bn | CN¥3.50bn | CN¥892.6m |
| Shareholders' equity | CN¥3.54bn | CN¥2.42bn | CN¥1.41bn | CN¥841.8m | CN¥436.4m | CN¥695.7m | CN¥2.55bn | CN¥2.35bn | CN¥3.44bn | CN¥2.06bn |
| Shares outstanding | 1,084m | 1,085m | 1,058m | 1,067m | 1,314m | 1,003m | 1,060m | 1,060m | 1,064m | 775m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥2.61bn | CN¥2.25bn | CN¥2.80bn | CN¥300.2m | CN¥922.0m | CN¥2.38bn | CN¥1.19bn | −CN¥124.7m | −CN¥833.4m | CN¥652.6m |
| Capital spending | −CN¥789.0m | −CN¥698.1m | −CN¥486.6m | −CN¥296.1m | −CN¥202.9m | −CN¥80.2m | −CN¥135.0m | −CN¥172.2m | −CN¥432.2m | −CN¥116.1m |
| Free cash flow | CN¥1.82bn | CN¥1.55bn | CN¥2.31bn | CN¥4.1m | CN¥719.1m | CN¥2.30bn | CN¥1.05bn | −CN¥296.9m | −CN¥1.27bn | CN¥536.5m |
| Dividends paid | −CN¥17.4m | −CN¥18.2m | −CN¥29.7m | −CN¥33.4m | −CN¥86.1m | −CN¥374.0m | −CN¥289.4m | −CN¥233.6m | −CN¥149.9m | −CN¥52.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.05bn | CN¥4.89bn | CN¥4.19bn | CN¥4.87bn | CN¥4.88bn | CN¥4.60bn | CN¥4.42bn | CN¥4.98bn |
| Gross profit | CN¥1.08bn | CN¥1.23bn | CN¥1.12bn | CN¥1.32bn | CN¥1.18bn | CN¥1.04bn | CN¥895.0m | CN¥1.19bn |
| Operating income | CN¥519.3m | CN¥753.6m | CN¥467.8m | CN¥785.1m | CN¥678.2m | CN¥644.4m | CN¥473.5m | CN¥563.3m |
| Net income | CN¥204.9m | CN¥306.7m | CN¥145.9m | CN¥339.0m | CN¥336.5m | CN¥301.9m | CN¥194.1m | CN¥265.9m |
| Diluted earnings per share | 0.19 | 0.28 | 0.13 | 0.31 | 0.31 | 0.28 | 0.18 | 0.25 |
| Cash from operations | — | — | CN¥634.0m | CN¥580.0m | CN¥793.0m | CN¥578.0m | — | CN¥589.0m |
| Capital spending | −CN¥242.0m | −CN¥204.0m | −CN¥411.0m | −CN¥93.0m | −CN¥162.0m | −CN¥121.0m | −CN¥244.0m | −CN¥144.0m |
| Free cash flow | — | — | CN¥223.0m | CN¥487.0m | CN¥631.0m | CN¥457.0m | — | CN¥445.0m |
| Total assets | CN¥17.30bn | CN¥16.05bn | CN¥15.64bn | CN¥15.64bn | CN¥15.56bn | CN¥15.06bn | CN¥14.89bn | CN¥14.37bn |
| Cash and short-term investments | — | — | CN¥5.99bn | CN¥5.38bn | CN¥5.11bn | CN¥4.10bn | CN¥3.30bn | CN¥3.98bn |
| Debt | CN¥101.4m | CN¥125.2m | CN¥4.52bn | CN¥4.25bn | CN¥728.4m | CN¥776.1m | CN¥710.0m | CN¥932.4m |
| Shareholders' equity | CN¥3.83bn | CN¥3.85bn | CN¥3.54bn | CN¥3.40bn | CN¥3.07bn | CN¥2.72bn | CN¥2.42bn | CN¥2.23bn |
Financial ratios
Data as of 4 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 24.6% | 22.6% | 22.9% | 19.4% | 20.7% | 22.5% |
| Operating margin | 13.2% | 12.2% | 11.8% | 9.5% | 5.0% | -3.8% |
| Net margin | 6.1% | 5.6% | 5.2% | 4.0% | -0.8% | -11.8% |
| Return on equity | 31.7% | 42.2% | 55.6% | 55.2% | -18.3% | -141.9% |
| Return on assets | 7.2% | 6.8% | 6.3% | 7.0% | -1.1% | -11.2% |
| Free cash flow yield | 36.2% | 31.3% | 35.9% | 6.4% | 9.9% | 28.3% |
| Revenue growth | 0.7% | 21.0% | 30.1% | 15.2% | 21.3% | 12.9% |
| Earnings growth | 10.2% | 29.6% | 69.4% | -681.2% | -91.9% | -1953.0% |
| Current ratio | 1.15x | 1.05x | 0.98x | 1.05x | 1.11x | 1.13x |
| Debt to equity | 1.27x | 0.29x | 0.60x | 0.86x | 0.94x | 1.46x |
| Equity ratio | 22.7% | 16.2% | 11.2% | 12.8% | 6.1% | 7.9% |
| Interest coverage | 43.61x | 32.78x | 23.37x | 9.27x | 4.89x | -1.82x |
| R&D as a share of sales | 3.4% | 3.5% | 3.6% | 4.0% | 3.5% | 3.6% |
| Buybacks as a share of market value | 0.1% | -2.5% | 0.9% | 18.8% | -31.0% | 5.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.6% | 17.2% | 14.7% |
| Operating income | 30.1% | — | 23.8% |
| Net income | 34.2% | — | 15.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 23.6% | 22.7% | 22.4% | 23.9% |
| Operating margin | 12.7% | 11.9% | 9.5% | 6.9% |
| Net margin | 5.8% | 5.3% | 2.8% | 1.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.0 | 14.0 | 8.9 | 12.2 | -90.8 | -4.0 | 112.4 | -2.7 | 31.4 | 37.9 |
| Price to sales | 0.6 | 0.8 | 0.5 | 0.5 | 0.7 | 0.5 | 0.8 | 0.7 | 1.7 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 Jul 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.036 | 0.053 | 0.034 | 0.059 | 0.048 | 0.021 |
- 17-for-10 split · 6 Jul 2018
- 14-for-5 split · 11 May 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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