Zhongman Petro & Natural Gas (603619) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Zhongman Petro & Natural Gas stock ¥13.12, price ¥19.64, that is 33.2% below the price, quality 29 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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Zhongman Petro & Natural Gas
603619 · SHGOur calculation puts a fair price 33% below what the stock costs today.
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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 ¥8.47 – ¥47.05 · fair‑value band ¥9.83 – ¥16.40 · the ¥19.64 price screens above the ¥13.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Company profile
Zhongman Petroleum and Natural Gas Group Corp.,Ltd., an oil and gas company, provides integrated oil and gas development services in China and internationally. It engages in exploration and development, drilling and completion engineering, and equipment manufacturing business.
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The company explores for, develops, and produces oil and gas deposits.
It also offers drilling and completion services, including integrated drilling engineering, equipment management, production management, and project management services, as well as cover drilling, well workover, logging, well logging, cementing, completion, drilling fluid, directional drilling, and integrated wellbore technical services; and drilling technical services.
In addition, the company designs, manufactures, sells, and leases technical services petroleum drilling equipment; and researches, develops, manufactures, and sells land drilling rigs, components, electrical control systems, and intelligent products.
Further, it offers pre-sale and in sale services, such as assembling tests, technical directing, customer training to operation support, maintenance with full-weather service, etc.; maintenance services; technical consultation, spare parts supply, and operational support services; and product customization services.
Zhongman Petroleum and Natural Gas Group Corp.,Ltd. was founded in 2003 and is headquartered in Shanghai, China.
Stock analysis
Zhongman Petro & Natural Gas (603619) currently trades at ¥19.64, while our model-based Fair Value estimate is ¥13.12, 33% 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 ¥18.60 per share, and 3 of the 16 models we run sit above the ¥19.64 price.
Bear case: the Asset-Based group reads lowest at ¥6.18, and 13 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥9.83 (bear) to ¥16.40 (bull), the price of ¥19.64 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 29/100 (below-average quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Zhongman Petro & Natural Gas reported revenue of 3.9B CNY in FY2025 versus 1.8B CNY in FY2021, a compound +22.2%/yr. Reported net income was 510M CNY in FY2025, compounding +62.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 9.1B CNY (≈ $1.4B) Small · P/E ratio 33.9 · P/S ratio 2.49 · EPS (TTM) ¥0.5800 · Dividend yield 0.7% · Net margin 8.5% · Return on equity 7.2% · Return on assets (EBIT) 8.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −15% fair-value upside, at −33%, 603619 screens richer than that median.
Fair Value models
All 16 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
603619 screens overvalued: fair value 33% below the price. Compare with Saudi Arabian Oil Company →
Compare Zhongman Petro & Natural Gas with another stock
Price, fair value, quality and upside side by side.
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.Oil & Gas Integrated · 43 stocks
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- PEG ratio by industry
- Revenue growth by industry
- Stock screener with 62 metrics
- Undervalued stocks: Energy
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Integrated stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| PetroChina Company 601857 | ¥12.70 | ¥13.96 | +10% | vs 603619 |
| China Petroleum & Chemical Corporation 600028 | ¥5.80 | ¥5.60 | −4% | vs 603619 |
| TotalEnergies SE TTE | €79.73 | €74.49 | −7% | vs 603619 |
| Equinor ASA EQNR | kr 394.90 | kr 336.81 | −15% | vs 603619 |
| Petróleo Brasileiro S.A PBR | $18.53 | $15.70 | −15% | vs 603619 |
| Suncor Energy Inc SU | $68.74 | $51.32 | −25% | vs 603619 |
| Saudi Arabian Oil Company 2222 | 26.16 SAR | 19.04 SAR | −27% | vs 603619 |
| Eni S.p.A ENI | €25.05 | €15.54 | −38% | vs 603619 |
| Exxon Mobil Corporation XOM | $165.87 | $90.40 | −46% | vs 603619 |
| Chevron Corporation CVX | $212.61 | $92.05 | −57% | vs 603619 |
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Frequently asked questions
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Key figures of Zhongman Petro & Natural Gas
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