Ningbo Boway Alloy Material Co Ltd (601137) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Ningbo Boway Alloy Material Co Ltd stock ¥10.36, price ¥16.41, that is 36.8% below the price, quality 51 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 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 7, 2026.
How to read this chart
60‑month range ¥9.21 – ¥27.40 · fair‑value band ¥7.54 – ¥13.20 · the ¥16.41 price screens above the ¥10.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Ningbo Boway Alloy Material Company Limited researches, develops, manufactures, and sells non-ferrous alloy materials in Asia, Europe, North America, and internationally.
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It offers copper alloy bars, copper alloy wires, copper alloy strips, precision cutting wires, precision electronic wires, welding wires, and solar photovoltaic products; and precision alloy wires, including high-conductivity superconducting materials, copper alloy products, wear-resistant bronze alloys, high-plastic brass alloys, high-corrosion-resistance cupronickel alloys, and environment-friendly alloys.
The company's products are used in aerospace, high-speed rail, electronics, telecommunication, automobile, ship, engineering machine, precision molding, lead frame, household appliance, and bathroom hardware industries.
The company was formerly known as Ningbo Powerway Alloy Material Company Limited and changed its name to Ningbo Boway Alloy Material Company Limited in June 2013. Ningbo Boway Alloy Material Company Limited was founded in 1993 and is based in Ningbo, China.
Stock analysis
Ningbo Boway Alloy Material Co Ltd (601137) currently trades at ¥16.41, while our model-based Fair Value estimate is ¥10.36, 37% 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 ¥39.37 per share, and 11 of the 16 models we run sit above the ¥16.41 price.
Bear case: the Asset-Based group reads lowest at ¥1.90, and 5 of the 16 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥7.54 (bear) to ¥13.20 (bull), the price of ¥16.41 sits above 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 51/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ningbo Boway Alloy Material Co Ltd reported revenue of 18.7B CNY in FY2024 versus 7.6B CNY in FY2020, a compound +25.2%/yr. Reported net income was 1.4B CNY in FY2024, compounding +33.3%/yr from FY2020.
Key figures
Market cap 15.8B CNY (≈ $2.4B) Mid · P/S ratio 0.69 · EPS (TTM) ¥−0.2500 · Dividend yield 0.2% · Net margin −0.7% · Return on equity −1.7% · Return on assets (EBIT) 5.8% (5-year average) · Operating margin 8.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −22% fair-value upside, at −37%, 601137 screens richer than that median.
Fair Value models
Bear¥7.54Fair Value ¥10.36Bull¥13.20
Price ¥16.41 · Downside -36.8%
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
EPV¥14.08¥16.38¥18.3874
Residual Income¥9.68¥12.70¥20.1774
ROIC Compounder¥17.48¥26.48¥32.9772
All 16 models by family
Earnings-Based
Graham-Dodd¥10.02¥69.91¥98.1163
Lynch FV¥22.42¥32.04¥41.6561
PEG = 1.0¥22.42¥32.04¥41.6557
EPV¥14.08¥16.38¥18.3874
Dividend Discount
Gordon GGM¥4.68¥9.63¥15.1166
DDM Multi-Stage¥4.68¥8.17¥10.1267
Multiples
P/E Multiple¥18.80¥25.06¥31.3363
P/S Multiple¥18.80¥25.06¥31.3358
P/B Multiple¥13.53¥18.04¥22.5555
EV/EBIT¥15.74¥21.65¥27.5766
EV/EBITDA¥14.50¥20.01¥25.5167
EV/Revenue¥13.37¥19.96¥26.5553
Asset-Based
NCAV (Graham)¥1.25¥1.90¥2.3755
Economic Profit
Residual Income¥9.68¥12.70¥20.1774
ROIC Compounder¥17.48¥26.48¥32.9772
Growth Earnings
Growth-Adj P/E¥27.56¥39.37¥51.1867
The fair value above starts from this blend and is adjusted for a cyclical peak 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.50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.1%
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.
+22.9%
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.
+19.7%
Revenue growth 17 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.
+16.1%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+22.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+22.3%
Dividend (yield on the price)0.2%
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.21.6% vs 23.2%, steady
Profit margin 2019 to 2024 ⓘ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.6% → 8%
2024 sits 131% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Ningbo Boway Alloy Material Co Ltd with another stock
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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.Copper · 58 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score51 · Above median
Fair Value upside−36.8% · Below median
Profitability
Return on assets7.8% · Above median
Net margin (12 months)−0.7% · Bottom 25%
Operating margin (12 months)8.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)32.7% · Below median
Dividend yield (12 months)0.2% · Bottom 25%
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Copper median · lower = cheaper
P/B1.88× · Cheaper than median
P/S (12 months)0.68× · Cheapest 25%
EV/EBITDA10.8× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 100
PAST (return on equity)0· sector 43
HEALTH (low debt)87· sector 92
DIVIDEND (yield)5· sector 27
VALUE 0: the price sits above our fair-value range.
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). "Ningbo Boway Alloy Material Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/601137
Frequently asked questions
Is Ningbo Boway Alloy Material Co Ltd (601137) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥10.36 versus a price of ¥16.41, about 37% lower (overvalued).
What is the fair value of 601137?
Our model-based fair value for Ningbo Boway Alloy Material Co Ltd is ¥10.36 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥16.41.
What is the quality score of 601137?
Ningbo Boway Alloy Material Co Ltd has a Quality Score of 51/100. 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 Ningbo Boway Alloy Material Co Ltd (601137)?
Our model-based price target is the fair value of ¥10.36 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario ¥7.54, optimistic scenario ¥13.20. It is a calculation from audited fundamentals, not an analyst target.
What is the Ningbo Boway Alloy Material Co Ltd stock forecast for 2026?
Our models put fair value at ¥10.36, about 37% lower versus a price of ¥16.41 (overvalued). Cautious scenario ¥7.54, optimistic scenario ¥13.20. The calculation is refreshed regularly with new filings.
What is the revenue of Ningbo Boway Alloy Material Co Ltd (601137)?
Ningbo Boway Alloy Material Co Ltd reported trailing-twelve-month revenue of about 23.2B CNY (latest available figure, as of Nov 7, 2026).
Does Ningbo Boway Alloy Material Co Ltd pay a dividend?
Ningbo Boway Alloy Material Co Ltd currently shows a dividend yield of 0.25% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Ningbo Boway Alloy Material Co Ltd (601137) and when is the ex-dividend date?
Ningbo Boway Alloy Material Co Ltd pays a dividend of ¥0.041 per share a year, a dividend yield of 0.2%. The last ex-dividend date was Jun 2, 2026. The payout ratio is 2.8% of earnings. Our assessment: Token dividend. At a yield of 0.2% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.2% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Ningbo Boway Alloy Material Co Ltd (601137)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ningbo Boway Alloy Material Co Ltd it is ¥10.36 per share (as of Nov 7, 2026), against a price of ¥16.41. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Ningbo Boway Alloy Material Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 601137 trades above its calculated fair value: price ¥16.41, fair value ¥10.36, a gap of about −37% (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 601137?
No. The price is what the market pays today (¥16.41); the fair value is what the company's own numbers justify (¥10.36). For Ningbo Boway Alloy Material Co Ltd the two are ¥6.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ningbo Boway Alloy Material Co Ltd worth?
The market values Ningbo Boway Alloy Material Co Ltd at about 15.8B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥16.41; our models calculate a fair value of ¥10.36 per share.
What do the bullish and bearish scenarios say about 601137?
Our models span a range for Ningbo Boway Alloy Material Co Ltd: cautious scenario ¥7.54, base ¥10.36, optimistic ¥13.20 per share (as of Nov 7, 2026, price ¥16.41). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ningbo Boway Alloy Material Co Ltd (601137)?
Balance-sheet figures for Ningbo Boway Alloy Material Co Ltd (as of Nov 7, 2026): return on equity −1.7%, debt of 0.26 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 601137 from its 52-week high?
Ningbo Boway Alloy Material Co Ltd trades at ¥16.41, about 38% below its 52-week high of ¥26.38 and 6% above the low of ¥15.50 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥10.36 is for.
Which stocks are comparable to Ningbo Boway Alloy Material Co Ltd?
From the same area (Basic Materials) we also value Southern Copper Corporation, Freeport-McMoRan Inc, First Quantum Minerals Ltd, Lundin Mining 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 Ningbo Boway Alloy Material Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price ¥16.41, calculated fair value ¥10.36 (−37%), Quality Score 51/100, from 16 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 601137 calculated?
We run Ningbo Boway Alloy Material Co Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥10.36 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. Ningbo Boway Alloy Material 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 Ningbo Boway Alloy Material Co Ltd (601137)?
The closing price on Nov 6, 2026 was ¥16.41. Our model-based fair value is ¥10.36, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ningbo Boway Alloy Material Co Ltd right now?
The price sits above even our optimistic bull case (¥13.20). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Ningbo Boway Alloy Material Co Ltd (601137) come from?
Earnings per share at Ningbo Boway Alloy Material Co Ltd grew +23.5 % a year from 2013 to 2024. Broken into its drivers: revenue per share +13.4 %, EBIT margin +11.1 %, tax rate −0.2 %, residual (interest, one-offs) −1.8 %. 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 Ningbo Boway Alloy Material Co Ltd
How large is the market capitalisation of Ningbo Boway Alloy Material Co Ltd (601137)?
The market capitalisation of Ningbo Boway Alloy Material Co Ltd is 15.8B CNY (≈ $2.4B). 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 Ningbo Boway Alloy Material Co Ltd (601137)?
The price-to-sales ratio of Ningbo Boway Alloy Material Co Ltd is 0.69 (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 Ningbo Boway Alloy Material Co Ltd (601137)?
Earnings per share at Ningbo Boway Alloy Material Co Ltd are ¥−0.2500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ningbo Boway Alloy Material Co Ltd (601137)?
The dividend yield of Ningbo Boway Alloy Material Co Ltd is 0.2%. 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 Ningbo Boway Alloy Material Co Ltd (601137)?
The net margin of Ningbo Boway Alloy Material Co Ltd is −0.7% (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 Ningbo Boway Alloy Material Co Ltd (601137)?
The return on equity (ROE) of Ningbo Boway Alloy Material 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 Ningbo Boway Alloy Material Co Ltd (601137)?
On an EBIT basis the return on assets of Ningbo Boway Alloy Material Co Ltd is 5.8% (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 Ningbo Boway Alloy Material Co Ltd (601137)?
The operating margin of Ningbo Boway Alloy Material Co Ltd is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ningbo Boway Alloy Material Co Ltd (601137)?
Revenue at Ningbo Boway Alloy Material Co Ltd is growing +32.7% versus a year earlier (3y avg +22.9%). 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 Ningbo Boway Alloy Material Co Ltd (601137)?
Earnings per share at Ningbo Boway Alloy Material Co Ltd are growing +28.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ningbo Boway Alloy Material Co Ltd (601137) generate?
The free cash flow of Ningbo Boway Alloy Material Co Ltd is −409M CNY (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ningbo Boway Alloy Material Co Ltd (601137) carry?
The net debt of Ningbo Boway Alloy Material Co Ltd is 1.8B CNY (fiscal year 2024). 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 7, 2026