Shanghai Putailai New Energy Technology Co.Ltd. (603659) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Shanghai Putailai New Energy Technology Co.Ltd. stock ¥18.85, price ¥21.94, that is 14.1% below the price, quality 59 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range ¥10.35 – ¥64.39 · fair‑value band ¥11.12 – ¥34.38 · the ¥21.94 price screens above the ¥18.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Shanghai Putailai New Energy Technology Group Co.,Ltd., together with its subsidiaries, engages in the development and sale of materials of lithium-ion batteries and automation equipment in China and internationally.
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The company offers anode materials and graphitization; as well as ceramic and PVDF coating, fluoropolymer coating, ceramic and PVDF hybrid coated separators, ultra-thin ceramic coated separators, solvent-based coated separators, li-ion pouch cell packaging aluminum plastic films, lithium-ion battery electrode binders, nano alumina and boehmite, and PVDF resin.
It also provides double deck high-speed coater-electrode coating machine, double layer gravure primer, separator coater, single layer extrusion coater, slitting machine, winding machine, filling machine, double head high speed stacking machine, and formation and grading equipment.
The company was formerly known as Shanghai Putailai New Energy Technology Co.,Ltd. and changed its name to Shanghai Putailai New Energy Technology Group Co.,Ltd. in November 2025. Shanghai Putailai New Energy Technology Group Co.,Ltd. was founded in 2012 and is headquartered in Shanghai, China.
Stock analysis
Shanghai Putailai New Energy Technology Co.Ltd. (603659) currently trades at ¥21.94, while our model-based Fair Value estimate is ¥18.85, 14% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥33.87 per share, and 9 of the 26 models we run sit above the ¥21.94 price.
Bear case: the Dividend Discount group reads lowest at ¥4.24, and 17 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥11.12 (bear) to ¥34.38 (bull), the price of ¥21.94 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Shanghai Putailai New Energy Technology Co.Ltd. reported revenue of 15.7B CNY in FY2025 versus 9.0B CNY in FY2021, a compound +15.0%/yr. Reported net income was 2.4B CNY in FY2025, compounding +7.8%/yr from FY2021.
Key figures
Market cap 46.2B CNY (≈ $6.9B) Mid · P/E ratio 16.0 · P/S ratio 2.23 · EPS (TTM) ¥1.37 · Dividend yield 1.0% · Net margin 14.2% · Return on equity 14.5% · Return on assets (EBIT) 7.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).
What moves the price
The share trades about 42% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at −14%, 603659 screens cheaper than that median.
Fair Value models
Bear¥11.12Fair Value ¥18.85Bull¥34.38
Price ¥21.94 · Downside -14.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.9682 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+16.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.4%
Start year 2020 (pandemic). Over 10 years: +32.8% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+44.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+25.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+24.6%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.24.6% vs 32.6%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.16% → 19%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+22.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +18.3% a year for the price and +20.4% for the forecasts.
AI conclusion: Strong downstream demand keeps production lines near full capacity in anode materials and separator coatings, yet limited public signals show no clear durable advantage and only moderate margins.
Main risk: Expanding capacity in anode materials and separator coatings risks mainly pressuring margins instead of securing greater downstream demand share.
Putailai operates across the lithium battery supply chain with anode materials, separator coatings and related equipment. Downstream demand keeps its production lines near full capacity. Our models see the business as overvalued. Will expanding capacity capture more of that demand or mainly pressure margins?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Chemicals · 727 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−14.1% · Above median
Profitability
Return on equity (12 months)14.5% · Top 25%
Return on assets5.1% · Above median
Net margin (12 months)14.2% · Top 25%
Operating margin (12 months)23.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)53.5% · Top 25%
Dividend yield (12 months)1.0% · Below median
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Shanghai Putailai New Energy Technology Co.Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/603659
Frequently asked questions
Is Shanghai Putailai New Energy Technology Co.Ltd. (603659) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of ¥18.85 versus a price of ¥21.94, about 14% lower (overvalued).
What is the fair value of 603659?
Our model-based fair value for Shanghai Putailai New Energy Technology Co.Ltd. is ¥18.85 (as of Nov 4, 2026), built from audited fundamentals. The current price: ¥21.94.
What is the quality score of 603659?
Shanghai Putailai New Energy Technology Co.Ltd. has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
Our model-based price target is the fair value of ¥18.85 (as of Nov 4, 2026) from 26 valuation models. Cautious scenario ¥11.12, optimistic scenario ¥34.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai Putailai New Energy Technology Co.Ltd. stock forecast for 2026?
Our models put fair value at ¥18.85, about 14% lower versus a price of ¥21.94 (overvalued). Cautious scenario ¥11.12, optimistic scenario ¥34.38. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
Shanghai Putailai New Energy Technology Co.Ltd. reported trailing-twelve-month revenue of about 20.7B CNY (latest available figure, as of Nov 4, 2026).
Does Shanghai Putailai New Energy Technology Co.Ltd. pay a dividend?
Shanghai Putailai New Energy Technology Co.Ltd. currently shows a dividend yield of 1.05% relative to its recent price (as of Nov 4, 2026).
What growth is priced into Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
For today's price to be fair in a discounted-cash-flow model, Shanghai Putailai New Energy Technology Co.Ltd. would have to grow free cash flow by +20.3 % per year for five years (discount rate 9.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.4 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 603659 use?
Our models discount Shanghai Putailai New Energy Technology Co.Ltd. at 9.4 %: a base by market capitalisation (mid), damped by beta 0.62, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Shanghai Putailai New Energy Technology Co.Ltd. that is +20.3 % per year a year over ten years, using the same discount rate (9.4 %) and the same formula as our fair value.
How much growth has Shanghai Putailai New Energy Technology Co.Ltd. (603659) delivered so far?
Over the past 5 years revenue at Shanghai Putailai New Energy Technology Co.Ltd. grew +24.4 % a year. The price currently implies +20.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Shanghai Putailai New Energy Technology Co.Ltd. (603659) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Shanghai Putailai New Energy Technology Co.Ltd. (+20.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The free-cash-flow yield on the price is 2.55 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Shanghai Putailai New Energy Technology Co.Ltd. produces per unit of market value. When it exceeds the discount rate of our models (9.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai Putailai New Energy Technology Co.Ltd. it is ¥18.85 per share (as of Nov 4, 2026), against a price of ¥21.94. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Shanghai Putailai New Energy Technology Co.Ltd. stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 603659 trades above its calculated fair value: price ¥21.94, fair value ¥18.85, a gap of about −14% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 603659?
No. The price is what the market pays today (¥21.94); the fair value is what the company's own numbers justify (¥18.85). For Shanghai Putailai New Energy Technology Co.Ltd. the two are ¥3.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai Putailai New Energy Technology Co.Ltd. worth?
The market values Shanghai Putailai New Energy Technology Co.Ltd. at about 46.2B CNY (market capitalisation, as of Nov 4, 2026). Per share that is ¥21.94; our models calculate a fair value of ¥18.85 per share.
What do the bullish and bearish scenarios say about 603659?
Our models span a range for Shanghai Putailai New Energy Technology Co.Ltd.: cautious scenario ¥11.12, base ¥18.85, optimistic ¥34.38 per share (as of Nov 4, 2026, price ¥21.94). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603659?
Shanghai Putailai New Energy Technology Co.Ltd. trades at a price-to-earnings ratio of 16.0 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥18.85 is built from several models across several years. Other multiples: P/B 2.3, P/S 2.2, EV/EBITDA 9.6.
How solid is the balance sheet of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
Balance-sheet figures for Shanghai Putailai New Energy Technology Co.Ltd. (as of Nov 4, 2026): return on equity 14.5%, debt of 0.17 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 603659 from its 52-week high?
Shanghai Putailai New Energy Technology Co.Ltd. trades at ¥21.94, about 42% below its 52-week high of ¥37.62 and 16% above the low of ¥18.94 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥18.85 is for.
Which stocks are comparable to Shanghai Putailai New Energy Technology Co.Ltd.?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shanghai Putailai New Energy Technology Co.Ltd. stock attractive at the current price?
The data as of Nov 4, 2026: price ¥21.94, calculated fair value ¥18.85 (−14%), Quality Score 59/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 603659 calculated?
We run Shanghai Putailai New Energy Technology Co.Ltd. through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥18.85, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Shanghai Putailai New Energy Technology Co.Ltd. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The closing price on Nov 5, 2026 was ¥21.94. Our model-based fair value is ¥18.85, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shanghai Putailai New Energy Technology Co.Ltd. right now?
The model range is unusually wide (¥11.12 to ¥34.38). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Shanghai Putailai New Energy Technology Co.Ltd. (603659) come from?
Earnings per share at Shanghai Putailai New Energy Technology Co.Ltd. grew +26.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +29.6 %, EBIT margin −2.4 %, tax rate +0.7 %, residual (interest, one-offs) −0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Shanghai Putailai New Energy Technology Co.Ltd.
How large is the market capitalisation of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The market capitalisation of Shanghai Putailai New Energy Technology Co.Ltd. is 46.2B CNY (≈ $6.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The price-to-sales ratio of Shanghai Putailai New Energy Technology Co.Ltd. is 2.23 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
Earnings per share at Shanghai Putailai New Energy Technology Co.Ltd. are ¥1.37 (price ÷ EPS = P/E 16.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The dividend yield of Shanghai Putailai New Energy Technology Co.Ltd. is 1.0% (payout 16.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The net margin of Shanghai Putailai New Energy Technology Co.Ltd. is 14.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The return on equity (ROE) of Shanghai Putailai New Energy Technology Co.Ltd. is 14.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
On an EBIT basis the return on assets of Shanghai Putailai New Energy Technology Co.Ltd. is 7.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
The operating margin of Shanghai Putailai New Energy Technology Co.Ltd. is 23.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
Revenue at Shanghai Putailai New Energy Technology Co.Ltd. is growing +53.5% versus a year earlier (3y avg +0.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Shanghai Putailai New Energy Technology Co.Ltd. (603659)?
Earnings per share at Shanghai Putailai New Energy Technology Co.Ltd. are growing +29.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Shanghai Putailai New Energy Technology Co.Ltd. (603659) carry?
The net debt of Shanghai Putailai New Energy Technology Co.Ltd. is 7.4B CNY (fiscal year 2025, ≈ 6.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 4, 2026