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China Tianying Inc (000035) Fair Value & Analysis

Industrials · CN · Market cap 11.9B CNY

CT China Tianying Inc 000035 · SHE
Price¥4.82
Fair Value¥3.28
Upside-32.0%
Quality40/100
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Weak Growth
Thin margins · 5.6% net margin
Moderate debt · negative free cash flow
0.72% dividend yield
Trails peers (4/13)
Narrow moat 40/100
Evidence: Medium Range ¥3.28 – ¥3.28 Share as image

Fair value as of: Jul 21, 2026

From 14 valuation models · updated 20 days ago

Share price +3.9% over the past month.

Below-average quality, and screening another 32% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥3.28). The favourable scenario is already priced in.
  • Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥8.30 ¥3.25 Fair Value ¥3.28 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 ¥3.25 – ¥8.30 · the ¥4.82 price screens above the ¥3.28 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

China Tianying Inc (000035) currently trades at ¥4.82, while our model-based Fair Value estimate is ¥3.28, implying the stock looks roughly 32.0% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Industrials 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, China Tianying Inc generated revenue of 5.2B CNY at a net margin of 5.6%. Revenue declined 5.2% year over year. It earns a return on equity of 2.7%. Net debt stands at 8.1B CNY. Fundamentals as of Jul 21, 2026

The share trades about 44% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -40% fair-value upside, at -32%, 000035 screens cheaper 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
Residual Income ¥3.27 ¥3.14 ¥2.58 76
ROIC Compounder ¥1.37 ¥1.91 ¥2.37 72
Growth-Adj P/E ¥3.81 ¥5.44 ¥7.08 68
All 14 models by family
Earnings-Based
Graham-Dodd ¥0.8100 ¥5.64 ¥7.91 54
Lynch FV ¥2.91 ¥4.16 ¥5.41 50
PEG = 1.0 ¥2.91 ¥4.16 ¥5.41 46
EPV ¥1.37 ¥1.91 ¥2.37 59
Multiples
P/E Multiple ¥1.87 ¥2.50 ¥3.12 63
P/S Multiple ¥1.52 ¥2.02 ¥2.53 58
P/B Multiple ¥1.52 ¥2.02 ¥2.53 55
EV/EBIT ¥3.26 ¥4.95 ¥6.64 53
EV/EBITDA ¥5.64 ¥8.13 ¥10.62 54
EV/Revenue ¥0.9700 ¥2.16 ¥3.36 43
Asset-Based
NCAV (Graham) ¥2.28 ¥3.06 ¥4.56 50
Economic Profit
Residual Income ¥3.27 ¥3.14 ¥2.58 76
ROIC Compounder ¥1.37 ¥1.91 ¥2.37 72
Growth Earnings
Growth-Adj P/E ¥3.81 ¥5.44 ¥7.08 68

Widest divergence: Growth Earnings (¥5.44) versus Economic Profit (¥1.91). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 5.2B CNY
Revenue growth (YoY) -5.2%
Net margin 5.6%
Return on equity 2.7%
Free cash flow −917M CNY FY2025
P/E ratio 38.5
More key figures
Operating margin 26.1%
EPS (TTM) ¥0.1300
Dividend yield 0.7%
EPS growth (YoY) +25.0%
Net debt 8.1B CNY FY2025

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

Quality Score breakdown

Overall quality 40/100

Of which business quality 38 · Market factors (momentum, volatility) 40

Profitability 17
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 70
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

China Tianying Inc. engages in urban environmental service and energy businesses in China and internationally. The company offers design research services, such as industry research, planning construction, engineering design, emerging technologies, and monitoring and analysis services; and waste classification and collection, urban cleaning, and recyclables …

Full company description

China Tianying Inc. engages in urban environmental service and energy businesses in China and internationally. The company offers design research services, such as industry research, planning construction, engineering design, emerging technologies, and monitoring and analysis services; and waste classification and collection, urban cleaning, and recyclables collection. It also provides disposal and recycling services for circular economy industrial park and waste to energy plants, as well as hazardous waste disposal, construction and demolition waste treatment, food waste treatment, and leachate and waste treatment services; and equipment manufacturing and urban service cloud platform. In addition, the company offers gravity energy storage, renewable generation, and projects integrating wind, solar, storafe, H1, NH3, and MeOH. The company was formerly known as China Kejian Co., Ltd. and changed its name to China Tianying Inc. in June 2014. The company was founded in 1984 and is headquartered in Haian, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Tianying Inc reported revenue of ¥5.3B in FY2025 versus ¥20.6B in FY2021, a compound −28.8%/yr. Reported net income was ¥284M in FY2025, compounding −21.0%/yr from FY2021.

Growth Quality 8/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
5.3B CNY
Latest YoY
−6.8%
Avg. growth/yr (3Y)
−7.6%
Avg. growth/yr (5Y)
−24.7%
Avg. growth/yr (33Y)
+11.4%
Revenue −28.8%/yr
FY21 ¥20.6B
FY22 ¥6.7B
FY23 ¥5.3B
FY24 ¥5.7B
FY25 ¥5.3B
Net income −21.0%/yr
FY21 ¥729M
FY22 ¥123M
FY23 ¥337M
FY24 ¥280M
FY25 ¥284M

000035 screens 32% overvalued. Compare with Waste Management, Inc →

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Cite: Fair Value Calculator (2026). "China Tianying Inc Fair Value". https://www.fairvalue-calculator.com/stock/000035

Peer Group

Waste Management · 169 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 40 · Below median
Fair Value upside −32% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 26% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.57× · Higher than median

Valuation Multiples vs Waste Management median · lower = cheaper

P/E (TTM) 38.5× · Pricier than 75% of peers
P/B 1.10× · Cheaper than median
P/S (TTM) 2.29× · Pricier than median
EV/EBITDA 8.6× · Cheaper than median

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 10
FUTURE 0 · sector 21
PAST 11 · sector 24
HEALTH 72 · sector 82
DIVIDEND 14 · sector 30

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 Waste Management stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $233.33 $128.02 -45%
Republic Services, Inc RSG $219.20 $122.01 -44%
Waste Connections, Inc WCN C$242.43 C$78.67 -68%
Veolia Environnement SA VIE €37.51 €24.50 -35%
Clean Harbors, Inc CLH $303.64 $155.37 -49%
GFL Environmental Inc GFL C$55.40 C$94.12 +70%
Fomento de Construcciones y Contratas, S.A FCC €12.20 €7.30 -40%
GEM Co 002340 ¥6.32 ¥5.27 -17%
Zhejiang Weiming Environment Protection Co 603568 ¥16.18 ¥20.91 +29%
Cleanaway Waste Management Limited CWY A$2.34 A$1.18 -50%

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Frequently asked questions

Is China Tianying Inc (000035) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥3.28 versus a price of ¥4.82, about −32% (overvalued).
What is the fair value of 000035?
Our model-based fair value for China Tianying Inc is ¥3.28 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥4.82.
What is the quality score of 000035?
China Tianying Inc has a Quality Score of 40/100. 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 China Tianying Inc (000035)?
China Tianying Inc reported trailing-twelve-month revenue of about 5.2B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000035?
The net profit margin of China Tianying Inc is about 5.6%, meaning it keeps roughly 5.6% of revenue as net income. Based on the latest reported figures.
Does China Tianying Inc pay a dividend?
China Tianying Inc currently shows a dividend yield of about 0.72% relative to its recent price (as of Jul 21, 2026).

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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