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Xiandai Investment Co (000900) Fair Value & Analysis

Industrials · CN · Market cap 5.6B CNY

XI Xiandai Investment Co 000900 · SHE
Price¥3.66
Fair Value¥4.99
Upside+36.3%
Quality62/100
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Mixed Growth
Thin margins · 5.5% net margin
High debt · generates free cash flow
4.35% dividend yield
Mixed vs. peers (8/14)
Narrow moat 42/100
Evidence: High Range ¥3.40 – ¥7.00 Share as image

Fair value as of: Jul 21, 2026

From 23 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from ¥5.60 to ¥4.99 (−10.9%) since Jun 25, 2026. Share price +0.8% over the past month.

A solid business, screening 36% undervalued on our models.

What matters now

  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (¥3.40 to ¥7.00) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥4.46 ¥3.02 Fair Value ¥4.99 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 ¥3.02 – ¥4.46 · fair‑value band ¥3.40 – ¥7.00 · the ¥3.66 price screens below the ¥4.99 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

Xiandai Investment Co (000900) currently trades at ¥3.66, while our model-based Fair Value estimate is ¥4.99, implying the stock looks roughly 36.3% undervalued today. The Quality Score stands at 62/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, Xiandai Investment Co generated revenue of 7.1B CNY at a net margin of 5.5%. Revenue grew 41.1% year over year. It earns a return on equity of 3.4%. Net debt stands at 21.0B CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥3.40 (bear case) to ¥7.00 (bull case); at ¥3.66, 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 18% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 25% fair-value upside, at 36%, 000900 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 ¥10.98 ¥24.79 ¥46.26 80
Residual Income ¥5.92 ¥5.73 ¥4.81 76
Rev-Margin DCF ¥0.1500 ¥5.00 ¥11.11 74
All 23 models by family
DCF Models
FCF DCF ¥11.01 ¥25.79 ¥49.39 38
Owner Earnings ¥6.18 ¥17.13 31
5Y Revenue Exit ¥0.1500 ¥4.77 ¥10.47 39
5Y EBITDA Exit ¥7.33 ¥19.08 ¥33.28 41
5Y P/E Exit ¥2.91 ¥6.73 38
10Y Revenue Exit ¥3.67 ¥9.11 ¥16.33 36
10Y EBITDA Exit ¥8.43 ¥19.17 ¥34.40 37
10Y P/E Exit ¥3.25 ¥7.80 ¥13.38 35
Earnings-Based
Graham-Dodd ¥1.81 ¥7.44 ¥10.13 54
Lynch FV ¥1.87 ¥2.67 ¥3.47 50
PEG = 1.0 ¥1.87 ¥2.67 ¥3.47 46
EPV ¥0.2200 59
Multiples
P/E Multiple ¥4.20 ¥5.60 ¥7.00 63
P/S Multiple ¥3.40 ¥4.53 ¥5.66 58
P/B Multiple ¥3.40 ¥4.53 ¥5.66 55
EV/EBIT ¥3.33 ¥8.03 ¥12.73 53
EV/EBITDA ¥7.03 ¥12.97 ¥18.90 54
Asset-Based
NCAV (Graham) ¥4.13 ¥5.53 ¥8.26 50
Growth DCF
Growth DCF ¥10.98 ¥24.79 ¥46.26 80
Rev-Margin DCF ¥0.1500 ¥5.00 ¥11.11 74
Economic Profit
Residual Income ¥5.92 ¥5.73 ¥4.81 76
ROIC Compounder ¥0.2200 72
Growth Earnings
Growth-Adj P/E ¥3.23 ¥4.61 ¥5.99 68

Widest divergence: DCF Models (¥7.80) versus Earnings-Based (¥2.67). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 7.1B CNY
Revenue growth (YoY) +41.1%
Net margin 5.5%
Return on equity 3.4%
Free cash flow 2.8B CNY FY2025
P/E ratio 16.0
More key figures
Operating margin 24.0%
EPS (TTM) ¥0.2300
Dividend yield 4.4%
EPS growth (YoY) -5.7%
Net debt 21.0B CNY FY2025

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 58 · Market factors (momentum, volatility) 44

Profitability 18
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 100
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

Xiandai Investment Co.,Ltd engages in the construction, operation, maintenance, and management of roads, tunnels, bridges, and ferries in China.

Full company description

Xiandai Investment Co.,Ltd engages in the construction, operation, maintenance, and management of roads, tunnels, bridges, and ferries in China. It is involved in the investment, development, and operation of real estate; investment and management of hotels; toll collection; construction, charging, and maintenance of highways; car cleaning and parking services; advertising activities; and sale of auto parts, road constructing machinery, construction materials, and metal materials. The company was founded in 1993 and is headquartered in Changsha, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Xiandai Investment Co reported revenue of ¥6.5B in FY2025 versus ¥16.1B in FY2021, a compound −20.3%/yr. Reported net income was ¥405M in FY2025, compounding −10.3%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
6.5B CNY
Avg. growth/yr (3Y)
−20.2%
Avg. growth/yr (5Y)
−8.2%
Avg. growth/yr (29Y)
+17.8%
Revenue −20.3%/yr
FY21 ¥16.1B
FY22 ¥16.4B
FY23 ¥8.5B
FY24 ¥8.2B
FY25 ¥6.5B
Net income −10.3%/yr
FY21 ¥624M
FY22 ¥433M
FY23 ¥543M
FY24 ¥341M
FY25 ¥405M

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Cite: Fair Value Calculator (2026). "Xiandai Investment Co Fair Value". https://www.fairvalue-calculator.com/stock/000900

Peer Group

Infrastructure Operations · 65 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 62 · Above median
Fair Value upside +36% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 24% · Below median
Revenue growth 41% · Top 25%
Dividend yield (TTM) 4.4% · Above median
Debt / equity 1.65× · Higher than 75% of peers

Valuation Multiples vs Infrastructure Operations median · lower = cheaper

P/E (TTM) 16.0× · Pricier than median
P/B 0.45× · Cheaper than 75% of peers
P/S (TTM) 0.78× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than median
EV/EBITDA 7.9× · 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 82 · sector 54
FUTURE 100 · sector 13
PAST 14 · sector 25
HEALTH 17 · sector 69
DIVIDEND 87 · sector 79

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

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Frequently asked questions

Is Xiandai Investment Co (000900) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥4.99 versus a price of ¥3.66, about +36% (undervalued).
What is the fair value of 000900?
Our model-based fair value for Xiandai Investment Co is ¥4.99 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥3.66.
What is the quality score of 000900?
Xiandai Investment Co has a Quality Score of 62/100. 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 Xiandai Investment Co (000900)?
Xiandai Investment Co reported trailing-twelve-month revenue of about 7.1B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 000900?
The net profit margin of Xiandai Investment Co is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. Based on the latest reported figures.
Does Xiandai Investment Co pay a dividend?
Xiandai Investment Co currently shows a dividend yield of about 4.35% 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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