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Shenzhen Tellus Holding (000025) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 6.7B CNY

ST Shenzhen Tellus Holding 000025 · SHE
Price¥14.95
Fair Value¥7.32
Upside-51.0%
Quality70/100
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Healthy Growth
Solidly profitable · 10.8% net margin
Low debt · generates free cash flow
Trails peers (4/13)
Moderate moat 48/100
Evidence: Medium Range ¥5.61 – ¥9.04 Share as image

Fair value as of: Jul 21, 2026

From 26 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from ¥7.95 to ¥7.32 (−7.9%) since Jun 25, 2026. Share price +10.3% over the past month.

A solid business, but screening 51% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (¥9.04). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

¥32.16 ¥10.42 Fair Value ¥7.32 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range ¥10.42 – ¥32.16 · fair‑value band ¥5.61 – ¥9.04 · the ¥14.95 price screens above the ¥7.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Shenzhen Tellus Holding (000025) currently trades at ¥14.95, while our model-based Fair Value estimate is ¥7.32, implying the stock looks roughly 51.0% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Shenzhen Tellus Holding generated revenue of 1.3B CNY at a net margin of 10.8%. Revenue declined 45.1% year over year. It earns a return on equity of 7.3%. The balance sheet holds a net cash position of 181M CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥5.61 (bear case) to ¥9.04 (bull case); at ¥14.95, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -41% fair-value upside, at -51%, 000025 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥8.95 ¥14.45 ¥22.89 80
Residual Income ¥3.80 ¥4.03 ¥4.43 76
Rev-Margin DCF ¥5.09 ¥7.56 ¥10.64 74
All 26 models by family
DCF Models
FCF DCF ¥8.94 ¥14.76 ¥23.92 38
Owner Earnings ¥5.31 ¥8.75 ¥14.18 31
5Y Revenue Exit ¥5.09 ¥7.49 ¥10.51 39
5Y EBITDA Exit ¥6.15 ¥9.58 ¥13.65 41
5Y P/E Exit ¥6.65 ¥10.58 ¥14.84 38
10Y Revenue Exit ¥6.30 ¥8.91 ¥12.43 36
10Y EBITDA Exit ¥7.07 ¥10.37 ¥14.89 37
10Y P/E Exit ¥7.39 ¥11.07 ¥15.83 35
Earnings-Based
Graham-Dodd ¥2.47 ¥9.74 ¥13.22 54
Lynch FV ¥2.40 ¥3.43 ¥4.46 50
PEG = 1.0 ¥2.40 ¥3.43 ¥4.46 46
EPV ¥3.23 ¥3.74 ¥4.18 59
Dividend Discount
Gordon GGM ¥1.01 ¥2.02 ¥3.06 70
DDM Multi-Stage ¥1.01 ¥1.75 ¥2.13 61
Multiples
P/E Multiple ¥6.00 ¥8.00 ¥10.00 63
P/S Multiple ¥3.35 ¥4.47 ¥5.58 58
P/B Multiple ¥4.64 ¥6.18 ¥7.73 55
EV/EBIT ¥5.63 ¥7.50 ¥9.37 53
EV/EBITDA ¥5.16 ¥6.87 ¥8.59 54
EV/Revenue ¥3.14 ¥4.48 ¥5.82 43
Asset-Based
NCAV (Graham) ¥2.33 ¥3.12 ¥4.65 50
Growth DCF
Growth DCF ¥8.95 ¥14.45 ¥22.89 80
Rev-Margin DCF ¥5.09 ¥7.56 ¥10.64 74
Economic Profit
Residual Income ¥3.80 ¥4.03 ¥4.43 76
ROIC Compounder ¥3.23 ¥3.74 ¥4.18 72
Growth Earnings
Growth-Adj P/E ¥4.39 ¥6.28 ¥8.16 68

Widest divergence: DCF Models (¥9.58) versus Dividend Discount (¥1.75). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.3B CNY
Revenue growth (YoY) -45.1%
Net margin 10.8%
Return on equity 7.3%
Free cash flow 304M CNY FY2025
P/E ratio 47.2
More key figures
Operating margin 24.4%
EPS (TTM) ¥0.3300
EPS growth (YoY) -2.8%
Net cash 181M CNY FY2024

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 39

Profitability 36
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 90
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Shenzhen Tellus Holding Co., Ltd., together with its subsidiaries, engages in property leasing and services, and jewelry operation activities in China. It is involved in the sale and service of jewelry; wholesale and retail of gold; real estate leasing and services; and commercial real estate leasing.

Full company description

Shenzhen Tellus Holding Co., Ltd., together with its subsidiaries, engages in property leasing and services, and jewelry operation activities in China. It is involved in the sale and service of jewelry; wholesale and retail of gold; real estate leasing and services; and commercial real estate leasing. The company also provides supporting services, such as customs clearance agency, gold refining/exchange, and safe deposit box leasing services. The company was formerly known as Shenzhen Tellus Machinery Holding Company Limited and changed its name to Shenzhen Tellus Holding Co., Ltd. in March 1993. Shenzhen Tellus Holding Co., Ltd. was incorporated in 1986 and is headquartered in Shenzhen, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenzhen Tellus Holding reported revenue of ¥1.5B in FY2025 versus ¥509M in FY2021, a compound +30.2%/yr. Reported net income was ¥143M in FY2025, compounding +2.2%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.5B CNY
Avg. growth/yr (3Y)
+72.6%
Avg. growth/yr (5Y)
+35.6%
Avg. growth/yr (33Y)
+7.7%
Revenue +30.2%/yr
FY21 ¥509M
FY22 ¥838M
FY23 ¥1.8B
FY24 ¥2.6B
FY25 ¥1.5B
Net income +2.2%/yr
FY21 ¥131M
FY22 ¥83.5M
FY23 ¥118M
FY24 ¥137M
FY25 ¥143M

000025 screens 51% overvalued. Compare with Compagnie Financière Richemont SA →

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Cite: Fair Value Calculator (2026). "Shenzhen Tellus Holding Fair Value". https://www.fairvalue-calculator.com/stock/000025

Peer Group

Luxury Goods · 132 stocks

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.

Quality Score 70 · Top 25%
Fair Value upside −51% · Below median
Return on equity (TTM) 7% · Below median
Return on assets 4% · Below median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth -45% · Bottom 25%
Debt / equity 0.08× · Higher than median

Valuation Multiples vs Luxury Goods median · lower = cheaper

P/E (TTM) 47.2× · Pricier than 75% of peers
P/B 3.67× · Pricier than median
P/S (TTM) 5.11× · Pricier than 75% of peers
P/FCF 3.3× · Cheaper than median
EV/EBITDA 31.1× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 13
FUTURE 0 · sector 50
PAST 29 · sector 38
HEALTH 96 · sector 99
DIVIDEND 0 · sector 38

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Compagnie Financière Richemont SA CFR CHF 197.40 CHF 117.30 -41%
Christian Dior SE DIO €455.40 €502.30 +10%
Kering SA KER €248.50 €60.61 -76%
Tapestry, Inc TPR $140.73 $19.95 -86%
Chow Tai Fook Jewellery Group 1929 HK$11.82 HK$12.28 +4%
The Swatch Group UHRN CHF 40.95 CHF 21.48 -48%
Prada S.p.A 1913 HK$43.26 HK$64.05 +48%
Pandora A/S PNDORA kr 779.40 kr 1,424 +83%
Brunello Cucinelli S.p.A BC €80.32 €42.69 -47%
Kalyan Jewellers India Limited KALYANKJIL ₹546.60 ₹238.57 -56%

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Frequently asked questions

Is Shenzhen Tellus Holding (000025) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥7.32 versus a price of ¥14.95, about −51% (overvalued).
What is the fair value of 000025?
Our model-based fair value for Shenzhen Tellus Holding is ¥7.32 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥14.95.
What is the quality score of 000025?
Shenzhen Tellus Holding has a Quality Score of 70/100. 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 revenue of Shenzhen Tellus Holding (000025)?
Shenzhen Tellus Holding reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000025?
The net profit margin of Shenzhen Tellus Holding is about 10.8%, meaning it keeps roughly 10.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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