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Bohai Leasing Co (000415) Fair Value & Analysis

Industrials · CN · Market cap 26.8B CNY

BL Bohai Leasing Co 000415 · SHE
Price¥4.52
Fair Value¥8.48
Upside+87.6%
Quality40/100
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Expensive Growth
Loss-making · -0.4% net margin
High debt · negative free cash flow
Mixed vs. peers (5/11)
Narrow moat 39/100
Evidence: Low Range ¥2.79 – ¥14.17 Share as image

Fair value as of: Jul 25, 2026

From 5 valuation models · updated 16 days ago

Fair value updated Jul 25, 2026, revised from ¥8.80 to ¥8.48 (−3.6%) since Jun 26, 2026. Share price −3.4% over the past month.

Below-average quality, screening 88% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (¥2.79 to ¥14.17). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

¥5.39 ¥1.83 Fair Value ¥8.48 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range ¥1.83 – ¥5.39 · fair‑value band ¥2.79 – ¥14.17 · the ¥4.52 price screens below the ¥8.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Bohai Leasing Co (000415) currently trades at ¥4.52, while our model-based Fair Value estimate is ¥8.48, implying the stock looks roughly 87.6% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Bohai Leasing Co generated revenue of 44.8B CNY at a net margin of -0.4%. Revenue declined 47.7% year over year. It earns a return on equity of 2.9%. Net debt stands at 147B CNY. Fundamentals as of Jul 25, 2026

Our scenario range runs from ¥2.79 (bear case) to ¥14.17 (bull case); at ¥4.52, the current price sits within 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 19% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -21% fair-value upside, at 88%, 000415 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
ROIC Compounder ¥1.86 72
EPV ¥1.86 59
EV/EBITDA ¥4.64 ¥14.11 ¥23.58 54
All 5 models by family
Earnings-Based
EPV ¥1.86 59
Multiples
EV/EBIT ¥3.62 ¥10.47 53
EV/EBITDA ¥4.64 ¥14.11 ¥23.58 54
Asset-Based
NCAV (Graham) ¥2.38 ¥3.19 ¥4.76 50
Economic Profit
ROIC Compounder ¥1.86 72

Widest divergence: Multiples (¥3.62) versus Asset-Based (¥3.19). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Revenue (TTM) 44.8B CNY
Revenue growth (YoY) -47.7%
Net margin -0.4%
Return on equity 2.9%
Free cash flow −21.2M CNY FY2025
Operating margin 38.8%
More key figures
EPS (TTM) ¥-0.0300
EPS growth (YoY) +35.6%
Net debt 147B CNY FY2025

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 37 · Market factors (momentum, volatility) 62

Profitability 11
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 64
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

Bohai Leasing Co., Ltd., together with its subsidiaries, operates as a leasing company in the People's Republic of China. It provides aircraft, containers, infrastructure, and large equipment leasing services. The company was formerly known as Bohai Capital Holding Co., Ltd. and changed its name to Bohai Leasing Co., Ltd. in November 2018.

Full company description

Bohai Leasing Co., Ltd., together with its subsidiaries, operates as a leasing company in the People's Republic of China. It provides aircraft, containers, infrastructure, and large equipment leasing services. The company was formerly known as Bohai Capital Holding Co., Ltd. and changed its name to Bohai Leasing Co., Ltd. in November 2018. Bohai Leasing Co., Ltd. Was founded in 1993 and is based in Urumqi, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bohai Leasing Co reported revenue of ¥52.9B in FY2025 versus ¥26.8B in FY2021, a compound +18.6%/yr. Reported net income was −¥406M in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
52.9B CNY
Latest YoY
+37.7%
Avg. growth/yr (3Y)
+18.4%
Avg. growth/yr (5Y)
+14.1%
Avg. growth/yr (30Y)
+28.2%
Revenue +18.6%/yr
FY21 ¥26.8B
FY22 ¥31.9B
FY23 ¥33.7B
FY24 ¥38.4B
FY25 ¥52.9B
Net income
FY21 −¥1.2B
FY22 −¥2.0B
FY23 ¥1.3B
FY24 ¥904M
FY25 −¥406M

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Cite: Fair Value Calculator (2026). "Bohai Leasing Co Fair Value". https://www.fairvalue-calculator.com/stock/000415

Peer Group

Rental & Leasing Services · 97 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 41 · Below median
Fair Value upside +88% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 3% · Above median
Net margin (TTM) -0% · Below median
Operating margin (TTM) 39% · Top 25%
Revenue growth -48% · Bottom 25%
Debt / equity 5.32× · Higher than 75% of peers

Valuation Multiples vs Rental & Leasing Services median · lower = cheaper

P/B 0.13× · Cheaper than 75% of peers
P/S (TTM) 0.09× · Cheaper than 75% of peers
EV/EBITDA 6.6× · Pricier 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 100 · sector 49
FUTURE 0 · sector 16
PAST 12 · sector 26
HEALTH 0 · sector 70
DIVIDEND 0 · sector 34

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 Rental & Leasing Services stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
United Rentals, Inc URI $1,045 $449.86 -57%
Sunbelt Rentals Holdings SUNB $73.41 $65.76 -10%
AerCap Holdings AER $146.97 $301.51 +105%
U-Haul Holding UHAL $67.35 $7.21 -89%
Ryder System, Inc R $273.06 $111.57 -59%
Ayvens AYV €11.57 €24.73 +114%
Localiza Rent a Car S.A RENT3 R$40.35 R$37.01 -8%
Element Fleet Management Corp EFN C$29.83 C$15.06 -50%
BOC Aviation Limited 2588 HK$77.40 HK$18.61 -76%
GATX Corporation GATX $178.48 $140.90 -21%

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Frequently asked questions

Is Bohai Leasing Co (000415) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of ¥8.48 versus a price of ¥4.52, about +88% (undervalued).
What is the fair value of 000415?
Our model-based fair value for Bohai Leasing Co is ¥8.48 (as of Jul 25, 2026), built from audited fundamentals. The current price is ¥4.52.
What is the quality score of 000415?
Bohai Leasing Co 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 Bohai Leasing Co (000415)?
Bohai Leasing Co reported trailing-twelve-month revenue of about 44.8B CNY (latest available figure, as of Jul 25, 2026).
What is the net profit margin of 000415?
The net profit margin of Bohai Leasing Co is about -0.4%, meaning it is currently running at a net loss. 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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