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Cheng De Lolo Company (000848) Fair Value & Analysis

Consumer Defensive · CN · Market cap 8.0B CNY

CD Cheng De Lolo Company 000848 · SHE
Price¥8.79
Fair Value¥12.91
Upside+46.9%
Quality76/100
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Mixed Growth
Solidly profitable · 19.9% net margin
Low debt · generates free cash flow
6.34% dividend yield
Ranks above peers (12/15)
Wide moat 77/100
Evidence: High Range ¥9.68 – ¥16.14 Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price +9.1% over the past month.

A strong business, screening 47% undervalued on our models.

What matters now

  • The rarer combination: high quality (76/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (¥9.68). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

¥11.70 ¥5.07 Fair Value ¥12.91 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 ¥5.07 – ¥11.70 · fair‑value band ¥9.68 – ¥16.14 · the ¥8.79 price screens below the ¥12.91 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

Cheng De Lolo Company (000848) currently trades at ¥8.79, while our model-based Fair Value estimate is ¥12.91, implying the stock looks roughly 46.9% undervalued today. The Quality Score stands at 76/100 (high quality), in the Consumer Defensive 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: high), always confirm before acting.

Over the trailing twelve months, Cheng De Lolo Company generated revenue of 3.3B CNY at a net margin of 19.9%. Revenue grew 13.7% year over year. It earns a return on equity of 18.0%. The balance sheet holds a net cash position of 3.3B CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥9.68 (bear case) to ¥16.14 (bull case); at ¥8.79, the current price sits below 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 3% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -14% fair-value upside, at 47%, 000848 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
Growth DCF ¥12.33 ¥16.34 ¥21.84 80
Residual Income ¥3.88 ¥5.10 ¥16.16 76
Rev-Margin DCF ¥8.62 ¥10.83 ¥13.40 74
All 24 models by family
DCF Models
FCF DCF ¥12.21 ¥16.76 ¥23.42 38
Owner Earnings ¥8.63 ¥11.32 ¥15.25 31
5Y Revenue Exit ¥8.62 ¥10.71 ¥13.26 39
5Y EBITDA Exit ¥11.24 ¥15.62 ¥20.65 41
5Y P/E Exit ¥12.12 ¥17.25 ¥22.60 38
10Y Revenue Exit ¥9.79 ¥11.99 ¥14.74 36
10Y EBITDA Exit ¥11.52 ¥15.31 ¥20.25 37
10Y P/E Exit ¥12.07 ¥16.42 ¥21.70 35
Earnings-Based
Graham-Dodd ¥4.18 ¥12.92 ¥17.18 54
Lynch FV ¥2.80 ¥4.00 ¥5.20 50
PEG = 1.0 ¥2.80 ¥4.00 ¥5.20 46
EPV ¥8.74 ¥9.57 ¥10.29 59
Multiples
P/E Multiple ¥9.68 ¥12.91 ¥16.14 63
P/S Multiple ¥3.73 ¥4.98 ¥6.22 58
P/B Multiple ¥7.84 ¥10.45 ¥13.06 55
EV/EBIT ¥13.53 ¥16.88 ¥20.24 53
EV/EBITDA ¥11.61 ¥14.32 ¥17.03 54
EV/Revenue ¥6.74 ¥8.14 ¥9.54 43
Asset-Based
NCAV (Graham) ¥1.71 ¥2.29 ¥3.42 50
Growth DCF
Growth DCF ¥12.33 ¥16.34 ¥21.84 80
Rev-Margin DCF ¥8.62 ¥10.83 ¥13.40 74
Economic Profit
Residual Income ¥3.88 ¥5.10 ¥16.16 76
ROIC Compounder ¥8.74 ¥9.57 ¥10.29 72
Growth Earnings
Growth-Adj P/E ¥7.99 ¥11.41 ¥14.83 68

Widest divergence: DCF Models (¥15.31) versus Asset-Based (¥2.29). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.3B CNY
Revenue growth (YoY) +13.7%
Net margin 19.9%
Return on equity 18.0%
Free cash flow 827M CNY FY2025
P/E ratio 12.2
More key figures
Operating margin 28.2%
EPS (TTM) ¥0.6400
Dividend yield 6.3%
EPS growth (YoY) +19.0%
Net cash 3.3B CNY FY2024

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

Quality Score breakdown

Overall quality 76/100

Of which business quality 75 · Market factors (momentum, volatility) 63

Profitability 62
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 93
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

Cheng De Lolo Company Limited, together with its subsidiaries, engages in the manufacture and sale of plant protein beverages in China.

Full company description

Cheng De Lolo Company Limited, together with its subsidiaries, engages in the manufacture and sale of plant protein beverages in China. The company offers dew series, including Classic plain almond dew, Classic plain unsweetened almond dew, Classic plain praline walnut dew, classic original walnut dew, classic original almond dew affectionate style, classic plain almond dew, almond milk tea jingshan matcha flavor, apricot luck colorful financier, almond dew classic low sugar, and walnut dew classic low sugar. It also provides milk series, such as plain almond milk and almond milk series. In Addition, The company provides water series, including loquat and autumn pear drink, tangerine peel and plum drink, goji berries and mulberries drink, longan ginger and jujube drink, carbonated drink with gravity white peach flavor juice, and carbonated beverage with gravity hawthorn flavor juice. It sells its products through online sales platforms. The company was formerly known as He Bei Cheng De Lolo Company Limited and changed its name to Cheng De Lolo Company Limited in May 2022. Cheng De Lolo Company Limited was founded in 1950 and is based in Chengde City, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cheng De Lolo Company reported revenue of ¥3.2B in FY2025 versus ¥2.5B in FY2021, a compound +5.9%/yr. Reported net income was ¥627M in FY2025, compounding +2.4%/yr from FY2021.

Growth Quality 88/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.2B CNY
Latest YoY
−3.5%
Avg. growth/yr (3Y)
+5.6%
Avg. growth/yr (5Y)
+11.3%
Avg. growth/yr (31Y)
+11.1%
Revenue +5.9%/yr
FY21 ¥2.5B
FY22 ¥2.7B
FY23 ¥3.0B
FY24 ¥3.3B
FY25 ¥3.2B
Net income +2.4%/yr
FY21 ¥570M
FY22 ¥602M
FY23 ¥638M
FY24 ¥666M
FY25 ¥627M

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Cite: Fair Value Calculator (2026). "Cheng De Lolo Company Fair Value". https://www.fairvalue-calculator.com/stock/000848

Peer Group

Beverages - Non-Alcoholic · 91 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 76 · Top 25%
Fair Value upside +47% · Top 25%
Return on equity (TTM) 18% · Above median
Return on assets 11% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 6.3% · Top 25%
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Beverages - Non-Alcoholic median · lower = cheaper

P/E (TTM) 12.2× · Cheaper than 75% of peers
P/B 2.29× · Pricier than median
P/S (TTM) 2.41× · Pricier than median
P/FCF 1.4× · Cheaper than median
EV/EBITDA 4.9× · Cheaper than median
PEG 0.86× · Cheaper 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 96 · sector 28
FUTURE 69 · sector 46
PAST 72 · sector 49
HEALTH 93 · sector 95
DIVIDEND 100 · sector 47

Values & ESG

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

Alcohol

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

Similar stocks

10 more Beverages - Non-Alcoholic stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
The Coca-Cola Company KO $87.05 $36.57 -58%
PepsiCo, Inc PEP $139.02 $106.91 -23%
Monster Beverage Corporation MNST $97.50 $35.82 -63%
Nongfu Spring Co 9633 HK$41.44 HK$30.72 -26%
Coca-Cola Europacific Partners PLC CCEP €92.10 €85.41 -7%
Keurig Dr Pepper Inc KDP $31.25 $30.99 -1%
Coca-Cola FEMSA, S.A. KOF $102.04 $106.45 +4%
Coca-Cola HBC AG EEE €57.90 €52.82 -9%
Varun Beverages Limited VBL ₹495.70 ₹187.49 -62%
Eastroc Beverage (Group) Co 605499 ¥124.43 ¥107.57 -14%

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Frequently asked questions

Is Cheng De Lolo Company (000848) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥12.91 versus a price of ¥8.79, about +47% (undervalued).
What is the fair value of 000848?
Our model-based fair value for Cheng De Lolo Company is ¥12.91 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥8.79.
What is the quality score of 000848?
Cheng De Lolo Company has a Quality Score of 76/100. 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 Cheng De Lolo Company (000848)?
Cheng De Lolo Company reported trailing-twelve-month revenue of about 3.3B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000848?
The net profit margin of Cheng De Lolo Company is about 19.9%, meaning it keeps roughly 19.9% of revenue as net income. Based on the latest reported figures.
Does Cheng De Lolo Company pay a dividend?
Cheng De Lolo Company currently shows a dividend yield of about 6.34% 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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