Qinghai Salt Lake Industry Co.Ltd (000792) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Qinghai Salt Lake Industry Co.Ltd stock ¥26.81, price ¥23.47, upside +14.2%, quality 76 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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The stock costs 12% less than our calculation considers fair.
Fair value ¥26.81 · Undervalued (12%)
Quality 76/100
Highly profitable · 56.5% net margin (TTM)
Low debt
Generates free cash flow
Ranks above peers(12/15)
Wide moat86/100
Broad data
Last quarter vs. a year ago: revenue +25%, profit +31%.
Mixed Growth(revenue 5y +2.1 %/yr in CNY)
⟳ Cyclical
Risks from the AI analysis
🚩Stricter mining licence supervision in Qinghai🚩Lower-cost potash and lithium from named international rivals🚩Shift to direct lithium extraction by rivals
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range ¥8.86 – ¥43.76 · fair‑value band ¥18.77 – ¥34.85 · the ¥23.47 price screens below the ¥26.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Qinghai Salt Lake Industry Co.,Ltd, together with its subsidiaries, manufactures and sells potash fertilizers in China and internationally. It operates through four segments: Potassium Products, Lithium Products, Trading, and Other.
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The company offers chemical raw materials and chemical products; potassium chloride and other potassium products; lithium carbonate; and fertilizers. It also operates hotels and department stores; and provides labor services.
Qinghai Salt Lake Industry Co.,Ltd was founded in 1958 and is based in Golmud, China.
Stock analysis
Qinghai Salt Lake Industry Co.Ltd (000792) currently trades at ¥23.47, while our model-based Fair Value estimate is ¥26.81, implying the stock looks roughly 12% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥27.83 per share, and 11 of the 26 models we run sit above the ¥23.47 price.
Bear case: the Asset-Based group reads lowest at ¥4.85, and 15 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥18.77 (bear) to ¥34.85 (bull), the price of ¥23.47 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 76/100 (high quality), in the Basic Materials sector.
Mixed Growth: Spin-off in 1999: revenue and profit before it include the divested business. Growth is measured afresh from 1999.
Qinghai Salt Lake Industry Co.Ltd reported revenue of 15.5B CNY in FY2025 versus 14.7B CNY in FY2021, a compound +1.3%/yr. Reported net income was 8.5B CNY in FY2025, compounding +17.3%/yr from FY2021.
Key figures
Market cap 124B CNY (≈ $18.7B) Large · P/E ratio 9.6 · P/S ratio 5.52 · EPS (TTM) ¥2.44 · Dividend yield 0.0% · Net margin 56.5% · Return on equity 28.4% · Return on assets (EBIT) 24.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 86 out of 100 (medium confidence).
What moves the price
The share trades about 42% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 1% fair-value upside, at 14%, 000792 screens cheaper than that median.
Fair Value models
Bear¥18.77Fair Value ¥26.81Bull¥34.85
Price ¥23.47 · Upside +14.2%
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 (¥2.07 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.55/100
Spin-off in 1999: revenue and profit before it include the divested business. Growth is measured afresh from 1999.
Revenue growth 1 year
+2.4%
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.
−20.4%
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.
+2.1%
Start year 2020 (pandemic). Over 10 years: +3.6% a year
Revenue growth 26 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.
+17.8%
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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.
+19.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.1%
Dividend (yield on the price)0.0%
Per share before 1999divided by the spin-off factor 1.123
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.base effect: 19.1% / 29.6%
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.23% → 45%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes about as much growth as the company has delivered so far and less than 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).
+1.1%
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.
+28.0%
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 −0.5% a year for the price and +25.9% for the forecasts.
AI conclusion: Strong lithium output growth and high margins in lithium and potash form the main strength, while limited evidence of a durable moat beyond financial signals remains the key weakness.
Main risk: Stricter compliance investigations into mining licences in Qinghai province could force operational adjustments or temporary halts at salt lake sites, hitting potassium chloride and lithium carbonate output.
Bull case: The company could maintain full licence compliance through close regulatory engagement while leveraging state-backed acquisitions to consolidate resources and adopt efficient extraction methods ahead of rivals.
Bear case: Licence challenges or sustained low-cost imports could curtail output volumes and compress margins across both potassium and lithium segments, limiting the benefits of resource synergies.
Strong lithium carbonate output growth and high margins in both lithium and potash segments have driven sharp earnings gains this year. Capacity expansions integrate well with the salt lake resource base. Does the market question how long these margins hold amid broader lithium supply shifts or simply miss the combined stability from potash?
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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.Agricultural Inputs · 162 stocks
Beats the industry median on 12/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside+14.2% · Above median
Profitability
Return on equity (12 months)28.4% · Top 25%
Return on assets15.2% · Top 25%
Net margin (12 months)56.5% · Top 25%
Operating margin (12 months)65.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)25.4% · Top 25%
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Agricultural Inputs median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Qinghai Salt Lake Industry Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/000792
Frequently asked questions
Is Qinghai Salt Lake Industry Co.Ltd (000792) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ¥26.81 versus a price of ¥23.47, about +14% upside (undervalued).
What is the fair value of 000792?
Our model-based fair value for Qinghai Salt Lake Industry Co.Ltd is ¥26.81 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥23.47.
What is the quality score of 000792?
Qinghai Salt Lake Industry Co.Ltd has a Quality Score of 76/100. 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 Qinghai Salt Lake Industry Co.Ltd (000792)?
Our model-based price target is the fair value of ¥26.81 (as of Nov 5, 2026) from 26 valuation models. Cautious scenario ¥18.77, optimistic scenario ¥34.85. It is a calculation from audited fundamentals, not an analyst target.
What is the Qinghai Salt Lake Industry Co.Ltd stock forecast for 2026?
Our models put fair value at ¥26.81, about +14% upside versus a price of ¥23.47 (undervalued). Cautious scenario ¥18.77, optimistic scenario ¥34.85. The calculation is refreshed regularly with new filings.
What is the revenue of Qinghai Salt Lake Industry Co.Ltd (000792)?
Qinghai Salt Lake Industry Co.Ltd reported trailing-twelve-month revenue of about 22.5B CNY (latest available figure, as of Nov 5, 2026).
Does Qinghai Salt Lake Industry Co.Ltd pay a dividend?
Qinghai Salt Lake Industry Co.Ltd currently shows a dividend yield of 0.01% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Qinghai Salt Lake Industry Co.Ltd (000792)?
For today's price to be fair in a discounted-cash-flow model, Qinghai Salt Lake Industry Co.Ltd would have to grow free cash flow by +1.1 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.1 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 000792 use?
Our models discount Qinghai Salt Lake Industry Co.Ltd at 9.6 %: a base by market capitalisation (large), damped by beta 0.87, 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 Qinghai Salt Lake Industry Co.Ltd that is +1.1 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Qinghai Salt Lake Industry Co.Ltd (000792) delivered so far?
Over the past 5 years revenue at Qinghai Salt Lake Industry Co.Ltd grew +2.1 % a year. The price currently implies +1.1 % 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 Qinghai Salt Lake Industry Co.Ltd (000792) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Qinghai Salt Lake Industry Co.Ltd (+1.1 % 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 Qinghai Salt Lake Industry Co.Ltd (000792)?
The free-cash-flow yield on the price is 6.86 %: that much free cash flow Qinghai Salt Lake Industry Co.Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Qinghai Salt Lake Industry Co.Ltd (000792)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Qinghai Salt Lake Industry Co.Ltd it is ¥26.81 per share (as of Nov 5, 2026), against a price of ¥23.47. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Qinghai Salt Lake Industry Co.Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 000792 trades below its calculated fair value: price ¥23.47, fair value ¥26.81, a gap of about +14% (undervalued). 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 000792?
No. The price is what the market pays today (¥23.47); the fair value is what the company's own numbers justify (¥26.81). For Qinghai Salt Lake Industry Co.Ltd the two are ¥3.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Qinghai Salt Lake Industry Co.Ltd worth?
The market values Qinghai Salt Lake Industry Co.Ltd at about 124B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥23.47; our models calculate a fair value of ¥26.81 per share.
What do the bullish and bearish scenarios say about 000792?
Our models span a range for Qinghai Salt Lake Industry Co.Ltd: cautious scenario ¥18.77, base ¥26.81, optimistic ¥34.85 per share (as of Nov 5, 2026, price ¥23.47). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 000792?
Qinghai Salt Lake Industry Co.Ltd trades at a price-to-earnings ratio of 9.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥26.81 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings, FY2025 ex one-offs: 17.9. Other multiples: PEG 0.9, P/B 2.8, P/S 5.5, EV/EBITDA 7.2.
What is the PEG ratio of 000792?
The PEG ratio of Qinghai Salt Lake Industry Co.Ltd is 0.88 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Qinghai Salt Lake Industry Co.Ltd (000792)?
Balance-sheet figures for Qinghai Salt Lake Industry Co.Ltd (as of Nov 5, 2026): return on equity 28.4%, debt of 0.01 per unit of equity. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is 000792 from its 52-week high?
Qinghai Salt Lake Industry Co.Ltd trades at ¥23.47, about 42% below its 52-week high of ¥40.40 and 8% above the low of ¥21.67 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥26.81 is for.
Which stocks are comparable to Qinghai Salt Lake Industry Co.Ltd?
From the same area (Basic Materials) we also value Nutrien Ltd, CF Industries Holdings, Yara International ASA, Yunnan Yuntianhua Co, 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 Qinghai Salt Lake Industry Co.Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price ¥23.47, calculated fair value ¥26.81 (+14%), Quality Score 76/100, 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 000792 calculated?
We run Qinghai Salt Lake Industry 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 ¥26.81, 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. Qinghai Salt Lake Industry Co.Ltd currently trades 12% below its own fair value, and the market average says nothing about that. 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 Qinghai Salt Lake Industry Co.Ltd (000792)?
The closing price on Nov 5, 2026 was ¥23.47. Our model-based fair value is ¥26.81, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Qinghai Salt Lake Industry Co.Ltd right now?
A fairly wide model range (¥18.77 to ¥34.85) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Qinghai Salt Lake Industry Co.Ltd (000792) come from?
Earnings per share at Qinghai Salt Lake Industry Co.Ltd grew +26.8 % a year from 2013 to 2024. Broken into its drivers: revenue per share +8.1 %, EBIT margin +25.1 %, tax rate +1.8 %, residual (interest, one-offs) −7.9 %. 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 Qinghai Salt Lake Industry Co.Ltd
How large is the market capitalisation of Qinghai Salt Lake Industry Co.Ltd (000792)?
The market capitalisation of Qinghai Salt Lake Industry Co.Ltd is 124B CNY (≈ $18.7B). 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 Qinghai Salt Lake Industry Co.Ltd (000792)?
The price-to-sales ratio of Qinghai Salt Lake Industry Co.Ltd is 5.52 (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 Qinghai Salt Lake Industry Co.Ltd (000792)?
Earnings per share at Qinghai Salt Lake Industry Co.Ltd are ¥2.44 (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Qinghai Salt Lake Industry Co.Ltd (000792)?
The dividend yield of Qinghai Salt Lake Industry Co.Ltd is 0.0% (payout 0.1%). 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 Qinghai Salt Lake Industry Co.Ltd (000792)?
The net margin of Qinghai Salt Lake Industry Co.Ltd is 56.5% (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 Qinghai Salt Lake Industry Co.Ltd (000792)?
The return on equity (ROE) of Qinghai Salt Lake Industry Co.Ltd is 28.4% (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 Qinghai Salt Lake Industry Co.Ltd (000792)?
On an EBIT basis the return on assets of Qinghai Salt Lake Industry Co.Ltd is 24.4% (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 Qinghai Salt Lake Industry Co.Ltd (000792)?
The operating margin of Qinghai Salt Lake Industry Co.Ltd is 65.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Qinghai Salt Lake Industry Co.Ltd (000792)?
Revenue at Qinghai Salt Lake Industry Co.Ltd is growing +25.4% versus a year earlier (3y avg −20.4%). 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 Qinghai Salt Lake Industry Co.Ltd (000792)?
Earnings per share at Qinghai Salt Lake Industry Co.Ltd are growing +31.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Qinghai Salt Lake Industry Co.Ltd (000792) hold?
Qinghai Salt Lake Industry Co.Ltd holds more cash than debt, 15.3B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 5, 2026