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STOCK COMPARISON

Kweichow Moutai Co vs United Spirits: Fair Value & Quality

Both stocks run through our valuation models. Here is how Kweichow Moutai Co (600519) and United Spirits (MCDOWELL-N) compare, as of Sep 12, 2026.

As of Sep 12, 2026, Fair Value Calculator sees Kweichow Moutai Co as the less overvalued of the two: Kweichow Moutai Co trades at ¥1,275 versus a fair value of ¥1,238 (-3%), while United Spirits trades at ₹1,395 versus ₹371 (-73%).
Kweichow Moutai Co
600519.SHG · CNY · Consumer Staples
-3%
upside to fair value
fairly valued
Price¥1,275
Fair Value¥1,238
Quality82/100
United Spirits
MCDOWELL-N.NSE · INR · Consumer Staples
-73%
upside to fair value
overvalued
Price₹1,395
Fair Value₹371
Quality64/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Kweichow Moutai CoUnited Spirits
Valuation
19.8×P/E (TTM)76.7×
9.09×P/S (TTM)8.40×
6.39×P/B10.63×
13.3×EV/EBITDA46.6×
1.65×PEG—
−2.9%Fair value upside−73.4%
3.9%Dividend yield0.6%
¥51.95Dividend per share₹9.00
Profitability
68%Operating margin9%
0.84×EBIT margin trend (5Y)1.68×
31%Return on equity22%
22%Return on assets11%
Growth
7%Revenue growth (YoY)11%
16.4%Avg. growth/yr (3Y)5.5%
15.4%Avg. growth/yr (5Y)9.0%
+16.0%Value creation/yr+23.4%
Balance & size
3,969.8×Interest coverage (EBIT/interest)12.6×
$233BMarket cap$10B
mixedGrowth qualityhealthy

Kweichow Moutai Co leads: 10 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Kweichow Moutai Coof which business quality 79 · market factors 51 United Spiritsof which business quality 65 · market factors 63
ProfitabilityMargins and returns on capital today
86
67
Quality GrowthAre margins and returns improving?
46
36
CashflowEarnings quality: real cash, not paper profit
79
53
Fin. StrengthBalance sheet, leverage, solvency risk
91
88
InvestmentDisciplined investing over empire-building
78
53
Low VolatilityCalm price path (market factor)
92
90
MomentumPrice trend over the last 3–12 months (market factor)
37
50
52W MomentumDistance to the 52-week high (market factor)
27
53
Net IssuanceBuybacks instead of dilution
84
82

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyKweichow Moutai CoPrice ¥1,275United SpiritsPrice ₹1,395
DCF Models+36%above the price¥1,736-69%below the price₹429
Earnings-Based-2%close to the price¥1,256-85%below the price₹214
Dividend Discount-23%below the price¥988n/a
Multiples-9%close to the price¥1,164-69%below the price₹433
Asset-Based-90%below the price¥131-94%below the price₹82.47
Growth DCF-17%below the price¥1,063-75%below the price₹346
Economic Profit-36%below the price¥810-81%below the price₹268
Growth Earnings+37%above the price¥1,744-67%below the price₹467
Minimum-90%below the price¥131-94%below the price₹82.47
Maximum+37%above the price¥1,744-67%below the price₹467
Median-13%close to the price¥1,113-75%below the price₹346
Geometric mean-28%below the price¥916-80%below the price₹282

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Kweichow Moutai Co: 15 of 26 models see the stock below the current price.

United Spirits: 24 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Kweichow Moutai Co
Bear ¥883Fair Value ¥1,238Bull ¥1,938
¥1,275 = current price (white tick)
United Spirits
Bear ₹247Fair Value ₹371Bull ₹532
₹1,395 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Kweichow Moutai Co · Consumer Staples

Quality score82 · Top 25%
Fair value upside-3% · above median

United Spirits · Consumer Staples

Quality score64 · Top 25%
Fair value upside-73% · bottom 25%

Bottom line

As of Sep 12, 2026, Fair Value Calculator sees Kweichow Moutai Co as the less overvalued of the two: Kweichow Moutai Co trades at ¥1,275 versus a fair value of ¥1,238 (-3%), while United Spirits trades at ₹1,395 versus ₹371 (-73%).

Kweichow Moutai Co has the higher quality score (82/100).

See the full analysis →
Kweichow Moutai Co · United Spirits

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.