Changchun Gas Co Ltd (600333) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Changchun Gas Co Ltd stock ¥6.44, price ¥5.69, upside +13.2%, quality 50 out of 100. Rating: undervalued. Calculated from audited financials with 10 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 ¥3.39 – ¥8.00 · fair‑value band ¥4.48 – ¥9.12 · the ¥5.69 price screens below the ¥6.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 5, 2026.
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Changchun Gas Co,.Ltd produces and sells of natural gas in China. The company offers coal, coke, coal tar, and natural gas products.
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It is also involved in the power project development, gas management, production and sales of fuel appliances, supply of liquefied gas, coal tar deep processing, gas engineering installation, and engineering material sale activities.
In addition, the company produces and sells of crude benzene; sells gas direct-fired air conditioner; coal and its products; sand and gravel for boilers; and real estate leasing services. The company was founded in 1924 and is headquartered in Changchun, China.
Changchun Gas Co,.Ltd operates as a subsidiary of Changchun Changgang Gas Co., Ltd.
Stock analysis
Changchun Gas Co Ltd (600333) currently trades at ¥5.69, while our model-based Fair Value estimate is ¥6.44, implying the stock looks roughly 12% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥4.15 per share, and 2 of the 9 models we run sit above the ¥5.69 price.
Bear case: the Asset-Based group reads lowest at ¥1.80, and 7 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥4.48 (bear) to ¥9.12 (bull), the price of ¥5.69 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 50/100 (solid quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Changchun Gas Co Ltd reported revenue of 2.5B CNY in FY2025 versus 1.8B CNY in FY2021, a compound +8.2%/yr. Reported net income was −8.9M CNY in FY2025.
Key figures
Market cap 3.5B CNY (≈ $519M) Small · P/E ratio 142.3 · P/S ratio 1.34 · EPS (TTM) ¥0.0400 · Dividend yield 2.4% · Net margin 1.0% · Return on equity 1.7% · Return on assets (EBIT) −0.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 19 out of 100 (medium confidence).
What moves the price
The share trades about 29% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −21% fair-value upside, at 13%, 600333 screens cheaper than that median.
Fair Value models
Bear¥4.48Fair Value ¥6.44Bull¥9.12
Price ¥5.69 · Upside +13.2%
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 (¥0.0343 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.
Best data coverage
FCF DCF¥3.85¥6.33¥9.7579
Growth DCF¥3.90¥6.05¥8.8378
Owner Earnings¥2.24¥3.94¥6.2975
All 10 models by family
DCF Models
FCF DCF¥3.85¥6.33¥9.7579
Owner Earnings¥2.24¥3.94¥6.2975
5Y Revenue Exit¥1.34¥2.17¥3.1372
5Y EBITDA Exit¥1.86¥3.14¥4.5674
10Y Revenue Exit¥2.26¥3.22¥4.3767
10Y EBITDA Exit¥2.60¥3.86¥5.4068
Multiples
EV/EBITDAn/an/a¥0.660062
Asset-Based
NCAV (Graham)¥1.34¥1.80¥2.6854
Growth DCF
Growth DCF¥3.90¥6.05¥8.8378
Rev-Margin DCF¥1.34¥2.25¥3.3472
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.8%
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.
+9.1%
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.
+9.5%
Start year 2020 (pandemic). Over 10 years: +5.0% a year
Revenue growth 28 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.
+12.5%
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Profit margin (trend) ⓘ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.
3.0% (2020) → 3.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
+11.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +10.1% a year for the price.
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.Utilities - Regulated Gas · 107 stocks
Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+13.2% · Above median
Profitability
Return on equity (12 months)1.7% · Bottom 25%
Return on assets−0.1% · Bottom 25%
Net margin (12 months)1.0% · Bottom 25%
Operating margin (12 months)−7.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)26.6% · Top 25%
Dividend yield (12 months)2.4% · Below median
Balance sheet
Debt / equity0.74× · Above median
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
P/E (12 months)142.3× · Priciest 25%
P/B1.81× · Pricier than median
P/S (12 months)1.34× · Pricier than median
Price / free cash flow (fiscal year)13.3× · Cheaper than median
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). "Changchun Gas Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600333
Frequently asked questions
Is Changchun Gas Co Ltd (600333) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ¥6.44 versus a price of ¥5.69, about +13% upside (undervalued).
What is the fair value of 600333?
Our model-based fair value for Changchun Gas Co Ltd is ¥6.44 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥5.69.
What is the quality score of 600333?
Changchun Gas Co Ltd has a Quality Score of 50/100. 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 Changchun Gas Co Ltd (600333)?
Our model-based price target is the fair value of ¥6.44 (as of Nov 5, 2026) from 10 valuation models. Cautious scenario ¥4.48, optimistic scenario ¥9.12. It is a calculation from audited fundamentals, not an analyst target.
What is the Changchun Gas Co Ltd stock forecast for 2026?
Our models put fair value at ¥6.44, about +13% upside versus a price of ¥5.69 (undervalued). Cautious scenario ¥4.48, optimistic scenario ¥9.12. The calculation is refreshed regularly with new filings.
What is the revenue of Changchun Gas Co Ltd (600333)?
Changchun Gas Co Ltd reported trailing-twelve-month revenue of about 2.6B CNY (latest available figure, as of Nov 5, 2026).
Does Changchun Gas Co Ltd pay a dividend?
Changchun Gas Co Ltd currently shows a dividend yield of 2.38% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Changchun Gas Co Ltd (600333)?
Changchun Gas Co Ltd has a dividend yield of 2.4%.
What growth is priced into Changchun Gas Co Ltd (600333)?
For today's price to be fair in a discounted-cash-flow model, Changchun Gas Co Ltd would have to grow free cash flow by +11.9 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.5 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 600333 use?
Our models discount Changchun Gas Co Ltd at 10.4 %: a base by market capitalisation (small), damped by beta 0.33, 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 Changchun Gas Co Ltd that is +11.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Changchun Gas Co Ltd (600333) delivered so far?
Over the past 5 years revenue at Changchun Gas Co Ltd grew +9.5 % a year. The price currently implies free-cash-flow growth of +11.9 % per 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 Changchun Gas Co Ltd (600333) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into Changchun Gas Co Ltd (+11.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Changchun Gas Co Ltd (600333)?
The free-cash-flow yield on the price is 7.52 %: that much free cash flow Changchun Gas Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Changchun Gas Co Ltd (600333)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Changchun Gas Co Ltd it is ¥6.44 per share (as of Nov 5, 2026), against a price of ¥5.69. It is the blended result of 10 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Changchun Gas Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 600333 trades below its calculated fair value: price ¥5.69, fair value ¥6.44, a gap of about +13% (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 600333?
No. The price is what the market pays today (¥5.69); the fair value is what the company's own numbers justify (¥6.44). For Changchun Gas Co Ltd the two are ¥0.7500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Changchun Gas Co Ltd worth?
The market values Changchun Gas Co Ltd at about 3.5B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥5.69; our models calculate a fair value of ¥6.44 per share.
What do the bullish and bearish scenarios say about 600333?
Our models span a range for Changchun Gas Co Ltd: cautious scenario ¥4.48, base ¥6.44, optimistic ¥9.12 per share (as of Nov 5, 2026, price ¥5.69). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600333?
Changchun Gas Co Ltd trades at a price-to-earnings ratio of 142.3 (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 ¥6.44 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2016 to 2021), reported earnings: 148.5. Other multiples: P/B 1.8, P/S 1.3, EV/EBITDA 15.3.
How solid is the balance sheet of Changchun Gas Co Ltd (600333)?
Balance-sheet figures for Changchun Gas Co Ltd (as of Nov 5, 2026): return on equity 1.7%, debt of 0.74 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 600333 from its 52-week high?
Changchun Gas Co Ltd trades at ¥5.69, about 29% below its 52-week high of ¥8.00 and 13% above the low of ¥5.02 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.44 is for.
Which stocks are comparable to Changchun Gas Co Ltd?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, Snam S.p.A, NiSource Inc, 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 Changchun Gas Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price ¥5.69, calculated fair value ¥6.44 (+13%), Quality Score 50/100, from 10 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 600333 calculated?
We run Changchun Gas Co Ltd through 10 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of ¥6.44 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 13.3% above its aggregate fair value. Changchun Gas 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 Changchun Gas Co Ltd (600333)?
The closing price on Nov 6, 2026 was ¥5.69. Our model-based fair value is ¥6.44, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Changchun Gas Co Ltd right now?
A fairly wide model range (¥4.48 to ¥9.12) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Changchun Gas Co Ltd
How large is the market capitalisation of Changchun Gas Co Ltd (600333)?
The market capitalisation of Changchun Gas Co Ltd is 3.5B CNY (≈ $519M). 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 Changchun Gas Co Ltd (600333)?
The price-to-sales ratio of Changchun Gas Co Ltd is 1.34 (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 Changchun Gas Co Ltd (600333)?
Earnings per share at Changchun Gas Co Ltd are ¥0.0400 (price ÷ EPS = P/E 142.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Changchun Gas Co Ltd (600333)?
The dividend yield of Changchun Gas Co Ltd is 2.4%. 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 Changchun Gas Co Ltd (600333)?
The net margin of Changchun Gas Co Ltd is 1.0% (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 Changchun Gas Co Ltd (600333)?
The return on equity (ROE) of Changchun Gas Co Ltd is 1.7% (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 Changchun Gas Co Ltd (600333)?
On an EBIT basis the return on assets of Changchun Gas Co Ltd is −0.3% (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 Changchun Gas Co Ltd (600333)?
The operating margin of Changchun Gas Co Ltd is −7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Changchun Gas Co Ltd (600333)?
Revenue at Changchun Gas Co Ltd is growing +26.6% versus a year earlier (3y avg +9.1%). 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 Changchun Gas Co Ltd (600333)?
Earnings per share at Changchun Gas Co Ltd are growing −71.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Changchun Gas Co Ltd (600333) carry?
The net debt of Changchun Gas Co Ltd is 1.8B CNY (fiscal year 2025, ≈ 6.9 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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Thin data
Nov 5, 2026