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Yunnan Tin Company (000960) Fair Value & Analysis

Basic Materials · CN · Market cap 56.2B CNY

YT Yunnan Tin Company 000960 · SHE
Price¥39.25
Fair Value¥20.31
Upside-48.3%
Quality57/100
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Weak Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
1.05% dividend yield
Mixed vs. peers (7/14)
Narrow moat 42/100
Evidence: High Range ¥11.15 – ¥25.39 Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Jul 16, 2026, revised from ¥20.36 to ¥20.31 (−0.2%) since Jun 25, 2026. Share price +5.2% over the past month.

A solid business, but screening 48% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥25.39). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥11.15 to ¥25.39) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥48.46 ¥10.54 Fair Value ¥20.31 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range ¥10.54 – ¥48.46 · fair‑value band ¥11.15 – ¥25.39 · the ¥39.25 price screens above the ¥20.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Yunnan Tin Company (000960) currently trades at ¥39.25, while our model-based Fair Value estimate is ¥20.31, implying the stock looks roughly 48.3% overvalued today. We read business quality at 57/100 (solid quality), in the Basic Materials 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, Yunnan Tin Company generated revenue of 49.4B CNY at a net margin of 4.7%. Revenue grew 59.9% year over year. It earns a return on equity of 10.8%. Net debt stands at 4.3B CNY. Fundamentals as of Jul 16, 2026

Our scenario range runs from ¥11.15 (bear case) to ¥25.39 (bull case); at ¥39.25, 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 19% below its 52-week high and 183% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at -48%, 000960 screens richer 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 ¥5.10 ¥8.66 ¥14.56 80
Residual Income ¥11.35 ¥12.40 ¥16.79 76
Rev-Margin DCF ¥13.87 ¥26.00 ¥41.24 74
All 26 models by family
DCF Models
FCF DCF ¥5.11 ¥8.90 ¥15.31 38
Owner Earnings ¥22.09 ¥38.60 ¥66.50 31
5Y Revenue Exit ¥13.87 ¥26.52 ¥43.88 39
5Y EBITDA Exit ¥19.56 ¥38.00 ¥61.19 41
5Y P/E Exit ¥12.74 ¥24.25 ¥37.33 38
10Y Revenue Exit ¥10.20 ¥21.21 ¥38.30 36
10Y EBITDA Exit ¥14.56 ¥29.52 ¥52.49 37
10Y P/E Exit ¥10.08 ¥19.57 ¥32.93 35
Earnings-Based
Graham-Dodd ¥8.13 ¥34.86 ¥47.64 54
Lynch FV ¥8.92 ¥12.75 ¥16.57 50
PEG = 1.0 ¥8.92 ¥12.75 ¥16.57 46
EPV ¥17.41 ¥20.31 ¥22.84 59
Dividend Discount
Gordon GGM ¥4.16 ¥8.64 ¥13.71 70
DDM Multi-Stage ¥4.16 ¥7.29 ¥9.07 61
Multiples
P/E Multiple ¥17.92 ¥23.90 ¥29.87 63
P/S Multiple ¥15.24 ¥20.31 ¥25.39 58
P/B Multiple ¥15.24 ¥20.31 ¥25.39 55
EV/EBIT ¥27.40 ¥36.51 ¥45.63 53
EV/EBITDA ¥29.04 ¥38.70 ¥48.37 54
EV/Revenue ¥18.48 ¥26.38 ¥34.28 43
Asset-Based
NCAV (Graham) ¥6.61 ¥8.86 ¥13.23 50
Growth DCF
Growth DCF ¥5.10 ¥8.66 ¥14.56 80
Rev-Margin DCF ¥13.87 ¥26.00 ¥41.24 74
Economic Profit
Residual Income ¥11.35 ¥12.40 ¥16.79 76
ROIC Compounder ¥18.99 ¥25.63 ¥34.70 72
Growth Earnings
Growth-Adj P/E ¥14.55 ¥20.78 ¥27.01 68

Widest divergence: DCF Models (¥24.25) versus Dividend Discount (¥7.29). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 49.4B CNY
Revenue growth (YoY) +59.9%
Net margin 4.7%
Return on equity 10.8%
Free cash flow 665M CNY FY2025
P/E ratio 28.2
More key figures
Operating margin 7.3%
EPS (TTM) ¥1.38
Dividend yield 0.9%
EPS growth (YoY) +76.2%
Net debt 4.3B CNY FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 58

Profitability 43
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 21
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 86
Distance to the 52-week high (market factor)
Net Issuance 92
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

Yunnan Tin Company Limited, together with its subsidiaries, engages in the exploration, mining, beneficiation, and smelting of metal ores, such as tin, indium, zinc, copper, and other non-ferrous metals in China and internationally.

Full company description

Yunnan Tin Company Limited, together with its subsidiaries, engages in the exploration, mining, beneficiation, and smelting of metal ores, such as tin, indium, zinc, copper, and other non-ferrous metals in China and internationally. The company offers high-purity tin, tin ingots, and solder ingots; high-purity indium ingots; cathode copper; zinc ingots and zinc alloys for die casting; and precious metal products, including silver and gold. It also provides lead-free tin solders, tin anodes, solder bars and wires, tin-based spherical solder powders, tin alloys, solder pastes, BGA solders, preformed solder media, tin granules, tin bars, and tin-plated sheets; organic and inorganic tin chemicals; and silver ingots. The company sells its products under the YT brand. In addition, it is involved in commerce; investment and trade; metal smelting; nonferrous metal mining; and finance lease activities. Yunnan Tin Company Limited was founded in 1883 and is based in Kunming, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Yunnan Tin Company reported revenue of ¥43.5B in FY2025 versus ¥53.8B in FY2021, a compound −5.2%/yr. Reported net income was ¥2.0B in FY2025, compounding −8.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
43.5B CNY
Latest YoY
+3.7%
Avg. growth/yr (3Y)
−5.7%
Avg. growth/yr (5Y)
−0.6%
Avg. growth/yr (29Y)
+13.7%
Revenue −5.2%/yr
FY21 ¥53.8B
FY22 ¥52.0B
FY23 ¥42.4B
FY24 ¥42.0B
FY25 ¥43.5B
Net income −8.6%/yr
FY21 ¥2.8B
FY22 ¥1.3B
FY23 ¥1.4B
FY24 ¥1.4B
FY25 ¥2.0B

000960 screens 48% overvalued. Compare with BHP Group →

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Cite: Fair Value Calculator (2026). "Yunnan Tin Company Fair Value". https://www.fairvalue-calculator.com/stock/000960

Peer Group

Other Industrial Metals & Mining · 477 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 57 · Top 25%
Fair Value upside −48% · Below median
Return on equity (TTM) 11% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 5% · Top 25%
Operating margin (TTM) 7% · Above median
Revenue growth 60% · Top 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper

P/E (TTM) 24.7× · Pricier than median
P/B 2.58× · Pricier than median
P/S (TTM) 1.14× · Cheaper than median
P/FCF 12.5× · Pricier than median
EV/EBITDA 11.4× · 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 0 · sector 0
FUTURE 100 · sector 23
PAST 43 · sector 0
HEALTH 94 · sector 96
DIVIDEND 21 · sector 23

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 Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
BHP Group BHPN 1,425 MXN 942.42 MXN -34%
Rio Tinto Group RIO A$164.89 A$81.76 -50%
Grupo México, S.A. GMEXICOB 199.23 MXN 187.72 MXN -6%
Vale S.A VALE $14.19 $9.14 -36%
Saudi Arabian Mining Company 1211 58.05 SAR 33.87 SAR -42%
CMOC Group 603993 ¥18.20 ¥16.15 -11%
Fortescue Ltd FMG A$18.47 A$18.62 +1%
China Tungsten And Hightech Materials Co 000657 ¥74.71 ¥9.55 -87%
Hindustan Zinc Limited HINDZINC ₹521.95 ₹576.80 +11%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥39.56 ¥10.59 -73%

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Frequently asked questions

Is Yunnan Tin Company (000960) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of ¥20.31 versus a price of ¥39.25, about −48% (overvalued).
What is the fair value of 000960?
Our model-based fair value for Yunnan Tin Company is ¥20.31 (as of Jul 16, 2026), built from audited fundamentals. The current price is ¥39.25.
What is the quality score of 000960?
Yunnan Tin Company has a Quality Score of 57/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Yunnan Tin Company (000960)?
Yunnan Tin Company reported trailing-twelve-month revenue of about 49.4B CNY (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 000960?
The net profit margin of Yunnan Tin Company is about 4.7%, meaning it keeps roughly 4.7% of revenue as net income. Based on the latest reported figures.
Does Yunnan Tin Company pay a dividend?
Yunnan Tin Company currently shows a dividend yield of about 0.86% relative to its recent price (as of Jul 16, 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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