🚀 VC round data is live in beta, check it out!
Tongwei Valuation Multiples
Discover revenue and EBITDA valuation multiples for Tongwei and similar public comparables like Mowi, Jinko Solar, Yara International, SalMar and more.
Tongwei Overview
About Tongwei
Tongwei is the world's largest polysilicon producer and a leading solar cell and module supplier. The solar business contributed more than 60% of revenue in 2024. In addition, Tongwei runs a feed and food business, which made up 35% of revenue in 2024.
Founded
1995
HQ
Employees
5.3K
Website
Financials (LTM)
EV
$19B
Tongwei Financials
Tongwei reported last 12-month revenue of $15B and EBITDA of $1B.
In the same LTM period, Tongwei generated $1B in EBITDA and had net loss of ($672M).
Revenue (LTM)
Tongwei P&L
In the most recent fiscal year, Tongwei reported revenue of $13B and EBITDA of $523M.
Tongwei expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $15B | XXX | $13B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $862M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 6% | XXX | XXX | XXX |
| EBITDA | $1B | XXX | $523M | XXX | XXX | XXX |
| EBITDA Margin | 9% | XXX | 4% | XXX | XXX | XXX |
| EBIT Margin | (4%) | XXX | (2%) | XXX | XXX | XXX |
| Net Profit | ($672M) | XXX | ($977M) | XXX | XXX | XXX |
| Net Margin | (4%) | XXX | (7%) | XXX | XXX | XXX |
| Net Debt | — | — | $8B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Tongwei Stock Performance
Tongwei has current market cap of $12B, and enterprise value of $19B.
Market Cap Evolution
Tongwei's stock price is $2.58.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $19B | $12B | 0.0% | XXX | XXX | XXX | $-0.22 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialTongwei Valuation Multiples
Tongwei trades at 1.3x EV/Revenue multiple, and 15.1x EV/EBITDA.
EV / Revenue (LTM)
Tongwei Financial Valuation Multiples
As of April 19, 2026, Tongwei has market cap of $12B and EV of $19B.
Equity research analysts estimate Tongwei's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Tongwei has a P/E ratio of (17.3x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $12B | XXX | $12B | XXX | XXX | XXX |
| EV (current) | $19B | XXX | $19B | XXX | XXX | XXX |
| EV/Revenue | 1.3x | XXX | 1.4x | XXX | XXX | XXX |
| EV/EBITDA | 15.1x | XXX | 37.3x | XXX | XXX | XXX |
| EV/EBIT | (33.4x) | XXX | (92.8x) | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 22.6x | XXX | XXX | XXX |
| P/E | (17.3x) | XXX | (11.9x) | XXX | XXX | XXX |
| EV/FCF | (164.5x) | XXX | (4.9x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Tongwei Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Tongwei Margins & Growth Rates
Tongwei's revenue in the last 12 month grew by 19%.
Tongwei's revenue per employee in the last FY averaged $2.6M, while opex per employee averaged $0.2M for the same period.
Tongwei's rule of 40 is 34% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Tongwei's rule of X is 68% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Tongwei Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 19% | XXX | 4% | XXX | XXX | XXX |
| EBITDA Margin | 9% | XXX | 4% | XXX | XXX | XXX |
| EBITDA Growth | 79% | XXX | 79% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 34% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 68% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $2.6M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 3% | XXX | 5% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 8% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Tongwei Public Comps
See public comps and valuation multiples for other Agriculture and Clean Technology comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Tongwei | XXX | XXX | XXX | XXX | XXX | XXX |
| Mowi | XXX | XXX | XXX | XXX | XXX | XXX |
| Jinko Solar | XXX | XXX | XXX | XXX | XXX | XXX |
| Yara International | XXX | XXX | XXX | XXX | XXX | XXX |
| SalMar | XXX | XXX | XXX | XXX | XXX | XXX |
| Baosight | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Tongwei M&A Activity
Tongwei acquired XXX companies to date.
Last acquisition by Tongwei was on XXXXXXXX, XXXXX. Tongwei acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Tongwei
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialTongwei Investment Activity
Tongwei invested in XXX companies to date.
Tongwei made its latest investment on XXXXXXXX, XXXXX. Tongwei invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Tongwei
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout Tongwei
| When was Tongwei founded? | Tongwei was founded in 1995. |
| Where is Tongwei headquartered? | Tongwei is headquartered in China. |
| How many employees does Tongwei have? | As of today, Tongwei has over 5K employees. |
| Who is the CEO of Tongwei? | Tongwei's CEO is Shuqi Liu. |
| Is Tongwei publicly listed? | Yes, Tongwei is a public company listed on Shanghai Stock Exchange. |
| What is the stock symbol of Tongwei? | Tongwei trades under 600438 ticker. |
| When did Tongwei go public? | Tongwei went public in 2004. |
| Who are competitors of Tongwei? | Tongwei main competitors are Mowi, Jinko Solar, Yara International, SalMar. |
| What is the current market cap of Tongwei? | Tongwei's current market cap is $12B. |
| What is the current revenue of Tongwei? | Tongwei's last 12 months revenue is $15B. |
| What is the current revenue growth of Tongwei? | Tongwei revenue growth (NTM/LTM) is 19%. |
| What is the current EV/Revenue multiple of Tongwei? | Current revenue multiple of Tongwei is 1.3x. |
| Is Tongwei profitable? | Yes, Tongwei is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Tongwei? | Tongwei's last 12 months EBITDA is $1B. |
| What is Tongwei's EBITDA margin? | Tongwei's last 12 months EBITDA margin is 9%. |
| What is the current EV/EBITDA multiple of Tongwei? | Current EBITDA multiple of Tongwei is 15.1x. |
| What is the current FCF of Tongwei? | Tongwei's last 12 months FCF is ($118M). |
| What is Tongwei's FCF margin? | Tongwei's last 12 months FCF margin is (1%). |
| What is the current EV/FCF multiple of Tongwei? | Current FCF multiple of Tongwei is (164.5x). |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.