Zhejiang Zomax Transmission (603767) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Zhejiang Zomax Transmission stock ¥7.18, price ¥16.07, that is 55.3% below the price, quality 62 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 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 6, 2026.
How to read this chart
60‑month range ¥5.94 – ¥36.93 · fair‑value band ¥6.10 – ¥8.26 · the ¥16.07 price screens above the ¥7.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Zhejiang Zomax Transmission Co., Ltd. engages in the research and development, production, and sale of automotive transmissions and vehicle gears in China and internationally.
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The company offers automotive transmissions, new energy vehicle reducers, electronically controlled transfer cases, motorcycle gear, and agricultural machinery gear; and automobile gear, including automobile manual transmission gear, wheel and automatic transmission gear, new energy vehicle reducer gear, automotive steering gear, automotive oil pump shaft gear, and automotive engines, as well as motorcycle engine gears, and agricultural machinery transmission gears.
Its products are used in light vehicles, such as pickup trucks, SUVs, MPVs, light buses, light logistics vehicles, A0 and A00 class passenger cars, mid-to-high-end automobile gear, motorcycle gear, and agricultural machinery gear applications.
Zhejiang Zomax Transmission Co., Ltd. was founded in 2005 and is headquartered in Wenling, China.
Stock analysis
Zhejiang Zomax Transmission (603767) currently trades at ¥16.07, while our model-based Fair Value estimate is ¥7.18, 55% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥5.72 per share, and 0 of the 14 models we run sit above the ¥16.07 price.
Bear case: the Asset-Based group reads lowest at ¥2.12, and 14 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥6.10 (bear) to ¥8.26 (bull), the price of ¥16.07 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 62/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Zhejiang Zomax Transmission reported revenue of 913M CNY in FY2025 versus 1.1B CNY in FY2021, a compound −5.0%/yr. Reported net income was −5.8M CNY in FY2025.
Key figures
Market cap 5.0B CNY (≈ $743M) Small · P/S ratio 5.76 · EPS (TTM) ¥−0.0200 · Dividend yield 1.2% · Net margin −0.5% · Return on equity −0.3% · Return on assets (EBIT) 2.9% (5-year average) · Operating margin 2.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 21 out of 100 (low confidence).
What moves the price
The share trades about 37% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −23% fair-value upside, at −55%, 603767 screens richer than that median.
Fair Value models
Bear¥6.10Fair Value ¥7.18Bull¥8.26
Price ¥16.07 · Downside -55.3%
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
FCF DCF¥5.51¥6.80¥8.5982
Growth DCF¥5.61¥6.82¥8.4180
Owner Earnings¥3.92¥4.69¥5.7678
All 14 models by family
DCF Models
FCF DCF¥5.51¥6.80¥8.5982
Owner Earnings¥3.92¥4.69¥5.7678
5Y Revenue Exit¥3.77¥4.32¥5.0074
5Y EBITDA Exit¥5.05¥6.54¥8.2677
10Y Revenue Exit¥4.44¥5.03¥5.6668
10Y EBITDA Exit¥5.21¥6.41¥7.8070
Earnings-Based
EPV¥2.45¥2.58¥2.6974
Multiples
EV/EBIT¥3.05¥3.59¥4.1366
EV/EBITDA¥5.09¥6.31¥7.5367
EV/Revenue¥2.52¥2.99¥3.4654
Asset-Based
NCAV (Graham)¥1.40¥2.12¥2.6654
Growth DCF
Growth DCF¥5.61¥6.82¥8.4180
Rev-Margin DCF¥3.77¥4.41¥5.1574
Economic Profit
ROIC Compounder¥2.45¥2.58¥2.6972
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.29/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+0.6%
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.
−2.9%
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.
−2.8%
Start year 2020 (pandemic). Over 10 years: +0.1% a year
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.
+7.2%
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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.
5.7% (2020) → 4.1% (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
A lot of optimism in the price
The price assumes more growth than 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).
+21.5%
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 +19.5% a year for the price.
Compare Zhejiang Zomax Transmission 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.Auto Parts · 653 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside−55.3% · Bottom 25%
Profitability
Return on assets−0.4% · Bottom 25%
Net margin (12 months)−0.5% · Bottom 25%
Operating margin (12 months)2.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−2.8% · Below median
Dividend yield (12 months)1.2% · Below median
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Auto Parts median · lower = cheaper
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Is Zhejiang Zomax Transmission (603767) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥7.18 versus a price of ¥16.07, about 55% lower (overvalued).
What is the fair value of 603767?
Our model-based fair value for Zhejiang Zomax Transmission is ¥7.18 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥16.07.
What is the quality score of 603767?
Zhejiang Zomax Transmission has a Quality Score of 62/100. 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 Zhejiang Zomax Transmission (603767)?
Our model-based price target is the fair value of ¥7.18 (as of Nov 6, 2026) from 14 valuation models. Cautious scenario ¥6.10, optimistic scenario ¥8.26. It is a calculation from audited fundamentals, not an analyst target.
What is the Zhejiang Zomax Transmission stock forecast for 2026?
Our models put fair value at ¥7.18, about 55% lower versus a price of ¥16.07 (overvalued). Cautious scenario ¥6.10, optimistic scenario ¥8.26. The calculation is refreshed regularly with new filings.
What is the revenue of Zhejiang Zomax Transmission (603767)?
Zhejiang Zomax Transmission reported trailing-twelve-month revenue of about 911M CNY (latest available figure, as of Nov 6, 2026).
Does Zhejiang Zomax Transmission pay a dividend?
Zhejiang Zomax Transmission currently shows a dividend yield of 1.18% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Zhejiang Zomax Transmission (603767)?
Zhejiang Zomax Transmission has a dividend yield of 1.2%.
What growth is priced into Zhejiang Zomax Transmission (603767)?
For today's price to be fair in a discounted-cash-flow model, Zhejiang Zomax Transmission would have to grow free cash flow by +21.5 % 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 -2.8 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 603767 use?
Our models discount Zhejiang Zomax Transmission at 10.4 %: a base by market capitalisation (small), damped by beta 0.23, 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 Zhejiang Zomax Transmission that is +21.5 % 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 Zhejiang Zomax Transmission (603767) delivered so far?
Over the past 5 years revenue at Zhejiang Zomax Transmission grew -2.8 % a year. The price currently implies free-cash-flow growth of +21.5 % 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 Zhejiang Zomax Transmission (603767) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into Zhejiang Zomax Transmission (+21.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zhejiang Zomax Transmission (603767)?
The free-cash-flow yield on the price is 2.73 %: that much free cash flow Zhejiang Zomax Transmission 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 Zhejiang Zomax Transmission (603767)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zhejiang Zomax Transmission it is ¥7.18 per share (as of Nov 6, 2026), against a price of ¥16.07. It is the blended result of 14 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Zhejiang Zomax Transmission stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 603767 trades above its calculated fair value: price ¥16.07, fair value ¥7.18, a gap of about −55% (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 603767?
No. The price is what the market pays today (¥16.07); the fair value is what the company's own numbers justify (¥7.18). For Zhejiang Zomax Transmission the two are ¥8.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zhejiang Zomax Transmission worth?
The market values Zhejiang Zomax Transmission at about 5.0B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥16.07; our models calculate a fair value of ¥7.18 per share.
What do the bullish and bearish scenarios say about 603767?
Our models span a range for Zhejiang Zomax Transmission: cautious scenario ¥6.10, base ¥7.18, optimistic ¥8.26 per share (as of Nov 6, 2026, price ¥16.07). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Zhejiang Zomax Transmission (603767)?
Balance-sheet figures for Zhejiang Zomax Transmission (as of Nov 6, 2026): return on equity −0.3%, debt of 0.03 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 603767 from its 52-week high?
Zhejiang Zomax Transmission trades at ¥16.07, about 37% below its 52-week high of ¥25.66 and 24% above the low of ¥13.00 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ¥7.18 is for.
Which stocks are comparable to Zhejiang Zomax Transmission?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Zhejiang Zomax Transmission stock attractive at the current price?
The data as of Nov 6, 2026: price ¥16.07, calculated fair value ¥7.18 (−55%), Quality Score 62/100, from 14 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 603767 calculated?
We run Zhejiang Zomax Transmission through 14 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of ¥7.18 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. Zhejiang Zomax Transmission 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 Zhejiang Zomax Transmission (603767)?
The closing price on Nov 9, 2026 was ¥16.07. Our model-based fair value is ¥7.18, about 55% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zhejiang Zomax Transmission right now?
The price sits above even our optimistic bull case (¥8.26). The favourable scenario is already priced in. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Zhejiang Zomax Transmission (603767) come from?
Earnings per share at Zhejiang Zomax Transmission grew −15.8 % a year from 2013 to 2024. Broken into its drivers: revenue per share −6.1 %, EBIT margin −11.3 %, tax rate +1.5 %, residual (interest, one-offs) −0.4 %. 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 Zhejiang Zomax Transmission
How large is the market capitalisation of Zhejiang Zomax Transmission (603767)?
The market capitalisation of Zhejiang Zomax Transmission is 5.0B CNY (≈ $743M). 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 Zhejiang Zomax Transmission (603767)?
The price-to-sales ratio of Zhejiang Zomax Transmission is 5.76 (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 Zhejiang Zomax Transmission (603767)?
Earnings per share at Zhejiang Zomax Transmission are ¥−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zhejiang Zomax Transmission (603767)?
The dividend yield of Zhejiang Zomax Transmission is 1.2%. 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 Zhejiang Zomax Transmission (603767)?
The net margin of Zhejiang Zomax Transmission is −0.5% (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 Zhejiang Zomax Transmission (603767)?
The return on equity (ROE) of Zhejiang Zomax Transmission is −0.3% (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 Zhejiang Zomax Transmission (603767)?
On an EBIT basis the return on assets of Zhejiang Zomax Transmission is 2.9% (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 Zhejiang Zomax Transmission (603767)?
The operating margin of Zhejiang Zomax Transmission is 2.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zhejiang Zomax Transmission (603767)?
Revenue at Zhejiang Zomax Transmission is growing −2.8% versus a year earlier (3y avg −2.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net cash does Zhejiang Zomax Transmission (603767) hold?
Zhejiang Zomax Transmission holds more cash than debt, 438M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Some data
Nov 6, 2026