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AVIC Xi'an Aircraft Industry Group (000768) Fair Value & Analysis

Industrials · CN · Market cap 57.0B CNY

AX AVIC Xi'an Aircraft Industry Group 000768 · SHE
Price¥20.74
Fair Value¥8.69
Upside-58.1%
Quality44/100
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Expensive Growth
Thin margins · 2.8% net margin
Low debt · negative free cash flow
0.75% dividend yield
Trails peers (3/14)
Narrow moat 31/100
Evidence: High Range ¥6.38 – ¥10.87 Share as image

Fair value as of: Jul 13, 2026

From 15 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from ¥8.99 to ¥8.69 (−3.3%) since Jun 25, 2026. Share price +4.0% over the past month.

Below-average quality, and screening another 58% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥10.87). The favourable scenario is already priced in.
  • Weak quality (44/100) 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)

¥38.91 ¥17.99 Fair Value ¥8.69 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range ¥17.99 – ¥38.91 · fair‑value band ¥6.38 – ¥10.87 · the ¥20.74 price screens above the ¥8.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

AVIC Xi'an Aircraft Industry Group (000768) currently trades at ¥20.74, while our model-based Fair Value estimate is ¥8.69, implying the stock looks roughly 58.1% overvalued today. The Quality Score stands at 44/100 (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: high).

Over the trailing twelve months, AVIC Xi'an Aircraft Industry Group generated revenue of 39.6B CNY at a net margin of 2.8%. Revenue declined 17.0% year over year. It earns a return on equity of 5.1%. The balance sheet holds a net cash position of 16.7B CNY. Fundamentals as of Jul 13, 2026

Our scenario range runs from ¥6.38 (bear case) to ¥10.87 (bull case); at ¥20.74, 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 35% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -58%, 000768 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 ¥6.15 ¥6.25 ¥6.04 76
ROIC Compounder ¥7.11 ¥7.75 ¥8.77 72
Growth-Adj P/E ¥6.29 ¥8.99 ¥11.69 68
All 15 models by family
DCF Models
Owner Earnings ¥9.82 ¥16.23 ¥28.24 31
Earnings-Based
Graham-Dodd ¥2.82 ¥15.59 ¥21.63 54
Lynch FV ¥4.35 ¥6.21 ¥8.07 50
PEG = 1.0 ¥4.35 ¥6.21 ¥8.07 46
EPV ¥7.11 ¥7.75 ¥8.31 59
Multiples
P/E Multiple ¥6.52 ¥8.69 ¥10.87 63
P/S Multiple ¥5.28 ¥7.04 ¥8.80 58
P/B Multiple ¥5.28 ¥7.04 ¥8.80 55
EV/EBIT ¥9.20 ¥11.17 ¥13.15 53
EV/EBITDA ¥11.55 ¥14.31 ¥17.08 54
EV/Revenue ¥7.50 ¥9.31 ¥11.13 43
Asset-Based
NCAV (Graham) ¥3.99 ¥5.35 ¥7.99 50
Economic Profit
Residual Income ¥6.15 ¥6.25 ¥6.04 76
ROIC Compounder ¥7.11 ¥7.75 ¥8.77 72
Growth Earnings
Growth-Adj P/E ¥6.29 ¥8.99 ¥11.69 68

Widest divergence: DCF Models (¥16.23) versus Asset-Based (¥5.35). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 39.6B CNY
Revenue growth (YoY) -17.0%
Net margin 2.8%
Return on equity 5.1%
Free cash flow −9.3B CNY FY2025
P/E ratio 52.6
More key figures
Operating margin 5.2%
EPS (TTM) ¥0.4000
Dividend yield 0.7%
EPS growth (YoY) -14.9%
Net cash 16.7B CNY FY2024

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 41 · Market factors (momentum, volatility) 32

Profitability 24
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 79
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

AVIC Xi'an Aircraft Industry Group Company Ltd. researches, develops, manufactures, sells, maintains, and services military aircraft and military and civilian aviation parts in China. It provides large and medium-sized military transport aircrafts, bombers, and special purpose aircrafts.

Full company description

AVIC Xi'an Aircraft Industry Group Company Ltd. researches, develops, manufactures, sells, maintains, and services military aircraft and military and civilian aviation parts in China. It provides large and medium-sized military transport aircrafts, bombers, and special purpose aircrafts. It also offers development of key components such as fuselages and wings for the C909, C919, AG600, and MA series aircraft, as well as manufactures wings and fuselages for the Airbus A320/A321 series aircraft, and vertical tail and inboard flaps for the Boeing B737 series aircraft. In addition, the company offers aviation engineering technical support, customer service, technical information, user training, and aircraft parts support. The company was formerly known as AVIC Aircraft Co., Ltd. The company was incorporated in 1997 and is based in Xi'an, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AVIC Xi'an Aircraft Industry Group reported revenue of ¥41.0B in FY2025 versus ¥32.7B in FY2021, a compound +5.8%/yr. Reported net income was ¥1.2B in FY2025, compounding +15.2%/yr from FY2021.

Growth Quality 29/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
41.0B CNY
Latest YoY
−5.1%
Avg. growth/yr (3Y)
+2.9%
Avg. growth/yr (5Y)
+4.1%
Avg. growth/yr (31Y)
+18.1%
Revenue +5.8%/yr
FY21 ¥32.7B
FY22 ¥37.7B
FY23 ¥40.3B
FY24 ¥43.2B
FY25 ¥41.0B
Net income +15.2%/yr
FY21 ¥653M
FY22 ¥524M
FY23 ¥861M
FY24 ¥1.0B
FY25 ¥1.2B

000768 screens 58% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "AVIC Xi'an Aircraft Industry Group Fair Value". https://www.fairvalue-calculator.com/stock/000768

Peer Group

Aerospace & Defense · 226 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 44 · Below median
Fair Value upside −58% · Below median
Return on equity (TTM) 5% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth -17% · Bottom 25%
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.07× · Lower than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 51.2× · Pricier than median
P/B 2.57× · Cheaper than median
P/S (TTM) 1.44× · Cheaper than median
EV/EBITDA 23.1× · Pricier than median
PEG 2.77× · 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 0
FUTURE 0 · sector 46
PAST 20 · sector 38
HEALTH 97 · sector 94
DIVIDEND 15 · sector 15

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.

Weapons Defense

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

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €213.25 €86.20 -60%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
HD Hyundai Heavy Industries Co 329180 466,000 KRW 272,966 KRW -41%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%

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Frequently asked questions

Is AVIC Xi'an Aircraft Industry Group (000768) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of ¥8.69 versus a price of ¥20.74, about −58% (overvalued).
What is the fair value of 000768?
Our model-based fair value for AVIC Xi'an Aircraft Industry Group is ¥8.69 (as of Jul 13, 2026), built from audited fundamentals. The current price is ¥20.74.
What is the quality score of 000768?
AVIC Xi'an Aircraft Industry Group has a Quality Score of 44/100. 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 AVIC Xi'an Aircraft Industry Group (000768)?
AVIC Xi'an Aircraft Industry Group reported trailing-twelve-month revenue of about 39.6B CNY (latest available figure, as of Jul 13, 2026).
What is the net profit margin of 000768?
The net profit margin of AVIC Xi'an Aircraft Industry Group is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does AVIC Xi'an Aircraft Industry Group pay a dividend?
AVIC Xi'an Aircraft Industry Group currently shows a dividend yield of about 0.71% relative to its recent price (as of Jul 13, 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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