HBIS Resources Co Ltd (000923) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of HBIS Resources Co Ltd stock ¥16.97, price ¥13.62, upside +24.6%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
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 ¥8.23 – ¥25.32 · fair‑value band ¥14.20 – ¥17.84 · the ¥13.62 price screens below the ¥16.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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HBIS Resources Co., Ltd. engages in the mining, processing, selling, and servicing of mineral products. It offers copper products, and iron and vermiculite ore products.
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The company was formerly known as XuanHua Construction Machinery Co.,Ltd. and changed its name to HBIS Resources Co., Ltd. in December 2019. HBIS Resources Co., Ltd. was founded in 1950 and is based in Zhangjiakou, China.
Stock analysis
HBIS Resources Co Ltd (000923) currently trades at ¥13.62, while our model-based Fair Value estimate is ¥16.97, implying the stock looks roughly 20% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥15.27 per share, and 5 of the 15 models we run sit above the ¥13.62 price.
Bear case: the Asset-Based group reads lowest at ¥2.14, and 10 of the 15 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥14.20 (bear) to ¥17.84 (bull), the price of ¥13.62 sits below 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 52/100 (solid quality), in the Industrials sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
HBIS Resources Co Ltd reported revenue of 5.8B CNY in FY2025 versus 6.6B CNY in FY2021, a compound −2.9%/yr. Reported net income was 567M CNY in FY2025, compounding −18.7%/yr from FY2021.
Key figures
Market cap 8.9B CNY (≈ $1.3B) Small · P/S ratio 1.82 · EPS (TTM) ¥0.0100 · Dividend yield 4.4% · Net margin 0.1% · Return on equity −0.1% · Return on assets (EBIT) 10.0% (5-year average) · Operating margin 10.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at 25%, 000923 screens cheaper than that median.
Fair Value models
Bear¥14.20Fair Value ¥16.97Bull¥17.84
Price ¥13.62 · Upside +24.6%
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.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.
Best data coverage
Owner Earnings¥4.82¥4.94¥5.1777
Residual Income¥11.68¥11.78¥12.2776
EPV¥8.85¥9.43¥9.9173
All 15 models by family
DCF Models
Owner Earnings¥4.82¥4.94¥5.1777
Earnings-Based
Graham-Dodd¥5.91¥9.11¥10.8867
EPV¥8.85¥9.43¥9.9173
Dividend Discount
Gordon GGM¥3.01¥3.42¥3.8669
DDM Multi-Stage¥3.01¥3.70¥4.4867
Multiples
P/E Multiple¥11.08¥14.77¥18.4763
P/S Multiple¥7.34¥9.79¥12.2457
P/B Multiple¥15.98¥21.31¥26.6455
EV/EBIT¥13.08¥15.85¥18.6265
EV/EBITDA¥13.01¥15.76¥18.5167
EV/Revenue¥11.62¥14.56¥17.4953
Asset-Based
NCAV (Graham)¥1.41¥2.14¥2.6754
Economic Profit
Residual Income¥11.68¥11.78¥12.2776
ROIC Compounder¥8.85¥9.43¥9.9171
Growth Earnings
Growth-Adj P/E¥7.89¥11.28¥14.6667
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
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.18/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+4.6%
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.
+4.9%
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.
−0.3%
Start year 2020 (pandemic). Over 10 years: +36.8% a year
Revenue growth 29 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.
+11.2%
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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.
−5.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.2%
Dividend (yield on the price)4.4%
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.−10.2% vs 11.8%, 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.36% → 12%
Price, fair value, quality and upside side by side.
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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.Farm & Heavy Construction Machinery · 145 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+24.6% · Above median
Profitability
Return on assets4.1% · Below median
Net margin (12 months)0.1% · Bottom 25%
Operating margin (12 months)10.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)−10.1% · Bottom 25%
Dividend yield (12 months)4.4% · Top 25%
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Farm & Heavy Construction Machinery 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). "HBIS Resources Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/000923
Frequently asked questions
Is HBIS Resources Co Ltd (000923) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ¥16.97 versus a price of ¥13.62, about +25% upside (undervalued).
What is the fair value of 000923?
Our model-based fair value for HBIS Resources Co Ltd is ¥16.97 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥13.62.
What is the quality score of 000923?
HBIS Resources Co Ltd has a Quality Score of 52/100. 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 HBIS Resources Co Ltd (000923)?
Our model-based price target is the fair value of ¥16.97 (as of Nov 5, 2026) from 15 valuation models. Cautious scenario ¥14.20, optimistic scenario ¥17.84. It is a calculation from audited fundamentals, not an analyst target.
What is the HBIS Resources Co Ltd stock forecast for 2026?
Our models put fair value at ¥16.97, about +25% upside versus a price of ¥13.62 (undervalued). Cautious scenario ¥14.20, optimistic scenario ¥17.84. The calculation is refreshed regularly with new filings.
What is the revenue of HBIS Resources Co Ltd (000923)?
HBIS Resources Co Ltd reported trailing-twelve-month revenue of about 5.0B CNY (latest available figure, as of Nov 5, 2026).
Does HBIS Resources Co Ltd pay a dividend?
HBIS Resources Co Ltd currently shows a dividend yield of 4.41% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of HBIS Resources Co Ltd (000923) and when is the ex-dividend date?
HBIS Resources Co Ltd pays a dividend of ¥0.6 per share a year, a dividend yield of 4.4%. The last ex-dividend date was Jun 15, 2026. A dividend has been paid every year since 2019. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What is the intrinsic value of HBIS Resources Co Ltd (000923)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HBIS Resources Co Ltd it is ¥16.97 per share (as of Nov 5, 2026), against a price of ¥13.62. It is the blended result of 15 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is HBIS Resources Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 000923 trades below its calculated fair value: price ¥13.62, fair value ¥16.97, a gap of about +25% (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 000923?
No. The price is what the market pays today (¥13.62); the fair value is what the company's own numbers justify (¥16.97). For HBIS Resources Co Ltd the two are ¥3.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is HBIS Resources Co Ltd worth?
The market values HBIS Resources Co Ltd at about 8.9B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥13.62; our models calculate a fair value of ¥16.97 per share.
What do the bullish and bearish scenarios say about 000923?
Our models span a range for HBIS Resources Co Ltd: cautious scenario ¥14.20, base ¥16.97, optimistic ¥17.84 per share (as of Nov 5, 2026, price ¥13.62). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 000923?
The PEG ratio of HBIS Resources Co Ltd is 0.70 (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 HBIS Resources Co Ltd (000923)?
Balance-sheet figures for HBIS Resources Co Ltd (as of Nov 5, 2026): return on equity −0.1%, debt of 0.05 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 000923 from its 52-week high?
HBIS Resources Co Ltd trades at ¥13.62, about 46% below its 52-week high of ¥25.32 and 11% above the low of ¥12.23 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥16.97 is for.
Which stocks are comparable to HBIS Resources Co Ltd?
From the same area (Industrials) we also value Caterpillar Inc, Deere & Company, PACCAR Inc, Daimler Truck Holding, 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 HBIS Resources Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price ¥13.62, calculated fair value ¥16.97 (+25%), Quality Score 52/100, from 15 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 000923 calculated?
We run HBIS Resources Co Ltd through 15 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥16.97 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. HBIS Resources Co Ltd currently trades 20% 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 HBIS Resources Co Ltd (000923)?
The closing price on Nov 6, 2026 was ¥13.62. Our model-based fair value is ¥16.97, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HBIS Resources Co Ltd right now?
The price is below even our cautious bear case (¥14.20). The market is more pessimistic than our downside scenario. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of HBIS Resources Co Ltd
How large is the market capitalisation of HBIS Resources Co Ltd (000923)?
The market capitalisation of HBIS Resources Co Ltd is 8.9B CNY (≈ $1.3B). 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 HBIS Resources Co Ltd (000923)?
The price-to-sales ratio of HBIS Resources Co Ltd is 1.82 (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 HBIS Resources Co Ltd (000923)?
Earnings per share at HBIS Resources Co Ltd are ¥0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of HBIS Resources Co Ltd (000923)?
The dividend yield of HBIS Resources Co Ltd is 4.4%. 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 HBIS Resources Co Ltd (000923)?
The net margin of HBIS Resources Co Ltd is 0.1% (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 HBIS Resources Co Ltd (000923)?
The return on equity (ROE) of HBIS Resources Co Ltd is −0.1% (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 HBIS Resources Co Ltd (000923)?
On an EBIT basis the return on assets of HBIS Resources Co Ltd is 10.0% (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 HBIS Resources Co Ltd (000923)?
The operating margin of HBIS Resources Co Ltd is 10.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HBIS Resources Co Ltd (000923)?
Revenue at HBIS Resources Co Ltd is growing −10.1% versus a year earlier (3y avg +4.9%). 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 HBIS Resources Co Ltd (000923)?
Earnings per share at HBIS Resources Co Ltd are growing −62.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does HBIS Resources Co Ltd (000923) generate?
The free cash flow of HBIS Resources Co Ltd is −139M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does HBIS Resources Co Ltd (000923) hold?
HBIS Resources Co Ltd holds more cash than debt, 4.3B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 5, 2026