Cashway Technology Co Ltd (603106) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Cashway Technology Co Ltd stock ¥1.69, price ¥6.74, that is 74.9% below the price, quality 54 out of 100. Rating: strongly overvalued. 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 7, 2026.
How to read this chart
60‑month range ¥3.83 – ¥13.49 · fair‑value band ¥1.64 – ¥1.81 · the ¥6.74 price screens above the ¥1.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Cashway Fintech Co.,Ltd. provides financial electronic products and solutions in China and internationally. The company engages in the research and development, manufacture, marketing, operation, and monitoring of banking self-service equipment.
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It also offers automated teller machine, cash recycling and depositing machine, teller cash recycler, and currency exchange machine; smart and video teller machine, portable card issuer, queuing and card printing machine, and smart locker; and single and double screen, poster machine, and smart white board.
In addition, the company offers currency sorter, cash disinfection cabinet, and smart table; software solutions, including branch intelligence, CIS multivendor terminal, end to end solutions, and cloud platform; OEM modules; and intelligent transportation, hospital, and retail solutions.
The company was founded in 2004 and is based in Tianjin, China.
Stock analysis
Cashway Technology Co Ltd (603106) currently trades at ¥6.74, while our model-based Fair Value estimate is ¥1.69, 75% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥2.94 per share, and 1 of the 15 models we run sit above the ¥6.74 price.
Bear case: the Dividend Discount group reads lowest at ¥0.2650, and 14 of the 15 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥1.64 (bear) to ¥1.81 (bull), the price of ¥6.74 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 54/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Cashway Technology Co Ltd reported revenue of 363M CNY in FY2025 versus 715M CNY in FY2021, a compound −15.6%/yr. Reported net income was 31.2M CNY in FY2025, compounding +13.1%/yr from FY2021.
Key figures
Market cap 3.5B CNY (≈ $526M) Small · P/E ratio 134.8 · P/S ratio 12.3 · EPS (TTM) ¥0.0500 · Dividend yield 0.3% · Net margin 8.6% · Return on equity 1.9% · Return on assets (EBIT) −3.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades about 50% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at −75%, 603106 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.2500 to ¥7.67). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear¥1.64Fair Value ¥1.69Bull¥1.81
Price ¥6.74 · Downside -74.9%
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 (¥0.0257 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.14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−17.0%
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.
−14.7%
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.
−17.0%
Start year 2020 (pandemic). Over 10 years: −8.8% 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.
−2.8%
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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.
≈ +4.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +3.7%
Dividend (yield on the price)0.3%
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: 3.7% / −16.6%
Profit margin 2019 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.−6% → 11%
⚠ Revenue per share shrinking 7.3%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.050 per share, median 0.36 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Compare Cashway Technology Co Ltd with another stock
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.Business Equipment & Supplies · 77 stocks
Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside−74.9% · Bottom 25%
Profitability
Return on equity (12 months)1.9% · Below median
Return on assets1.9% · Below median
Net margin (12 months)8.6% · Top 25%
Operating margin (12 months)−4.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−42.7% · Bottom 25%
Dividend yield (12 months)0.3% · Bottom 25%
Valuation Multiplesvs Business Equipment & Supplies median · lower = cheaper
P/E (12 months)134.8× · Priciest 25%
P/B2.66× · Priciest 25%
P/S (12 months)12.33× · Priciest 25%
EV/EBITDA74.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 30
FUTURE (revenue growth)0· sector 30
PAST (return on equity)7· sector 29
HEALTH (low debt)0· sector 98
DIVIDEND (yield)6· sector 50
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). "Cashway Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603106
Frequently asked questions
Is Cashway Technology Co Ltd (603106) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥1.69 versus a price of ¥6.74, about 75% lower (overvalued).
What is the fair value of 603106?
Our model-based fair value for Cashway Technology Co Ltd is ¥1.69 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥6.74.
What is the quality score of 603106?
Cashway Technology Co Ltd has a Quality Score of 54/100. 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 Cashway Technology Co Ltd (603106)?
Our model-based price target is the fair value of ¥1.69 (as of Nov 7, 2026) from 15 valuation models. Cautious scenario ¥1.64, optimistic scenario ¥1.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Cashway Technology Co Ltd stock forecast for 2026?
Our models put fair value at ¥1.69, about 75% lower versus a price of ¥6.74 (overvalued). Cautious scenario ¥1.64, optimistic scenario ¥1.81. The calculation is refreshed regularly with new filings.
What is the revenue of Cashway Technology Co Ltd (603106)?
Cashway Technology Co Ltd reported trailing-twelve-month revenue of about 285M CNY (latest available figure, as of Nov 7, 2026).
Does Cashway Technology Co Ltd pay a dividend?
Cashway Technology Co Ltd currently shows a dividend yield of 0.30% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Cashway Technology Co Ltd (603106) and when is the ex-dividend date?
Cashway Technology Co Ltd pays a dividend of ¥0.02 per share a year, a dividend yield of 0.3%. The last ex-dividend date was Jun 10, 2026. The payout ratio is 40.0% of earnings. Our assessment: Token dividend. At a yield of 0.3% 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 0.3% 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 Cashway Technology Co Ltd (603106)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cashway Technology Co Ltd it is ¥1.69 per share (as of Nov 7, 2026), against a price of ¥6.74. 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 Cashway Technology Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 603106 trades above its calculated fair value: price ¥6.74, fair value ¥1.69, a gap of about −75% (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 603106?
No. The price is what the market pays today (¥6.74); the fair value is what the company's own numbers justify (¥1.69). For Cashway Technology Co Ltd the two are ¥5.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cashway Technology Co Ltd worth?
The market values Cashway Technology Co Ltd at about 3.5B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥6.74; our models calculate a fair value of ¥1.69 per share.
What do the bullish and bearish scenarios say about 603106?
Our models span a range for Cashway Technology Co Ltd: cautious scenario ¥1.64, base ¥1.69, optimistic ¥1.81 per share (as of Nov 7, 2026, price ¥6.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603106?
Cashway Technology Co Ltd trades at a price-to-earnings ratio of 134.8 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥1.69 is built from several models across several years. Other multiples: P/B 2.7, P/S 12.3, EV/EBITDA 74.8.
How solid is the balance sheet of Cashway Technology Co Ltd (603106)?
Balance-sheet figures for Cashway Technology Co Ltd (as of Nov 7, 2026): return on equity 1.9%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 603106 from its 52-week high?
Cashway Technology Co Ltd trades at ¥6.74, about 50% below its 52-week high of ¥13.37 and 8% above the low of ¥6.22 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.69 is for.
Which stocks are comparable to Cashway Technology Co Ltd?
From the same area (Industrials) we also value GRG Banking Equipment Co, Crane NXT, Co, Shanghai M&G Stationery Inc, XGD 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 Cashway Technology Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price ¥6.74, calculated fair value ¥1.69 (−75%), Quality Score 54/100, 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 603106 calculated?
We run Cashway Technology 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 ¥1.69 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. Cashway 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 Cashway Technology Co Ltd (603106)?
The closing price on Nov 6, 2026 was ¥6.74. Our model-based fair value is ¥1.69, about 75% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cashway Technology Co Ltd right now?
The price sits above even our optimistic bull case (¥1.81). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (¥1.64 to ¥1.81), unusually little disagreement for a valuation.
Key figures of Cashway Technology Co Ltd
How large is the market capitalisation of Cashway Technology Co Ltd (603106)?
The market capitalisation of Cashway Technology Co Ltd is 3.5B CNY (≈ $526M). 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 Cashway Technology Co Ltd (603106)?
The price-to-sales ratio of Cashway Technology Co Ltd is 12.3 (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 Cashway Technology Co Ltd (603106)?
Earnings per share at Cashway Technology Co Ltd are ¥0.0500 (price ÷ EPS = P/E 134.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cashway Technology Co Ltd (603106)?
The dividend yield of Cashway Technology Co Ltd is 0.3% (payout 40.0%). 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 Cashway Technology Co Ltd (603106)?
The net margin of Cashway Technology Co Ltd is 8.6% (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 Cashway Technology Co Ltd (603106)?
The return on equity (ROE) of Cashway Technology Co Ltd is 1.9% (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 Cashway Technology Co Ltd (603106)?
On an EBIT basis the return on assets of Cashway Technology Co Ltd is −3.2% (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 Cashway Technology Co Ltd (603106)?
The operating margin of Cashway Technology Co Ltd is −4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cashway Technology Co Ltd (603106)?
Revenue at Cashway Technology Co Ltd is growing −42.7% versus a year earlier (3y avg −14.7%). 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 Cashway Technology Co Ltd (603106)?
Earnings per share at Cashway Technology Co Ltd are growing −47.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Cashway Technology Co Ltd (603106) generate?
The free cash flow of Cashway Technology Co Ltd is −28.8M 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 Cashway Technology Co Ltd (603106) hold?
Cashway Technology Co Ltd holds more cash than debt, 816M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Some data
Nov 7, 2026