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Tinergy Chemical Co (002145) Fair Value & Analysis

Basic Materials · CN · Market cap 16.6B CNY

TC Tinergy Chemical Co 002145 · SHE
Price¥4.49
Fair Value¥2.19
Upside-51.2%
Quality35/100
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Expensive Growth
Thin margins · 4.1% net margin
Low debt · negative free cash flow
0.47% dividend yield
Trails peers (4/14)
Narrow moat 33/100
Evidence: Medium Range ¥1.20 – ¥2.19 Share as image

Fair value as of: Jul 22, 2026

From 15 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from ¥2.28 to ¥2.19 (−3.9%) since Jun 25, 2026. Share price −1.1% over the past month.

Below-average quality, and screening another 51% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.19). The favourable scenario is already priced in.
  • Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥1.20 to ¥2.19) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥13.35 ¥3.10 Fair Value ¥2.19 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range ¥3.10 – ¥13.35 · fair‑value band ¥1.20 – ¥2.19 · the ¥4.49 price screens above the ¥2.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Tinergy Chemical Co (002145) currently trades at ¥4.49, while our model-based Fair Value estimate is ¥2.19, implying the stock looks roughly 51.2% overvalued today. The Quality Score stands at 35/100 (below-average 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: medium).

Over the trailing twelve months, Tinergy Chemical Co generated revenue of 7.9B CNY at a net margin of 4.1%. Revenue grew 7.0% year over year. It earns a return on equity of 2.7%. The balance sheet holds a net cash position of 3.5B CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥1.20 (bear case) to ¥2.19 (bull case); at ¥4.49, 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 27% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -51%, 002145 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
Residual Income ¥2.28 ¥2.21 ¥1.86 76
ROIC Compounder ¥2.42 ¥2.57 ¥2.69 72
Growth-Adj P/E ¥1.54 ¥2.19 ¥2.85 68
All 15 models by family
DCF Models
Owner Earnings ¥2.42 ¥3.41 ¥5.41 31
Earnings-Based
Graham-Dodd ¥0.6400 ¥4.10 ¥5.74 54
Lynch FV ¥1.19 ¥1.70 ¥2.21 50
PEG = 1.0 ¥1.19 ¥1.70 ¥2.21 46
EPV ¥2.42 ¥2.57 ¥2.69 59
Multiples
P/E Multiple ¥1.20 ¥1.59 ¥1.99 63
P/S Multiple ¥1.20 ¥1.59 ¥1.99 58
P/B Multiple ¥1.20 ¥1.59 ¥1.99 55
EV/EBIT ¥2.80 ¥3.21 ¥3.63 53
EV/EBITDA ¥3.37 ¥3.97 ¥4.57 54
EV/Revenue ¥2.64 ¥3.10 ¥3.56 43
Asset-Based
NCAV (Graham) ¥1.58 ¥2.12 ¥3.16 50
Economic Profit
Residual Income ¥2.28 ¥2.21 ¥1.86 76
ROIC Compounder ¥2.42 ¥2.57 ¥2.69 72
Growth Earnings
Growth-Adj P/E ¥1.54 ¥2.19 ¥2.85 68

Widest divergence: DCF Models (¥3.41) versus Multiples (¥1.59). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 7.9B CNY
Revenue growth (YoY) +7.0%
Net margin 4.1%
Return on equity 2.7%
Free cash flow −184M CNY FY2025
P/E ratio 48.3
More key figures
Operating margin 5.7%
EPS (TTM) ¥0.0900
Dividend yield 0.5%
EPS growth (YoY) -21.0%
Net cash 3.5B CNY FY2024

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 35/100

Of which business quality 38 · Market factors (momentum, volatility) 45

Profitability 22
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 25
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 21
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

Tinergy Chemical Co., Ltd., together with its subsidiaries, engages in the production and sale of titanium dioxide in China and internationally. The company offers titanium dioxide, ferrous sulfate, phosphate rock, yellow phosphorus, ferric phosphate, modified polyacrylamide, sulfuric acid residue, and new chemical products.

Full company description

Tinergy Chemical Co., Ltd., together with its subsidiaries, engages in the production and sale of titanium dioxide in China and internationally. The company offers titanium dioxide, ferrous sulfate, phosphate rock, yellow phosphorus, ferric phosphate, modified polyacrylamide, sulfuric acid residue, and new chemical products. It is also involved in logistics and transportation services; waste heat power generation; trading; investments activities; chemical engineering and equipment design; technology development; consulting; and transfer services. The company's products are used in coating, printing ink, plastics, and decor paper/laminate applications. It exports its products. The company was formerly known as CNNC Hua Yuan Titanium Dioxide Co., Ltd and changed its name to Tinergy Chemical Co., Ltd. in October 2025. Tinergy Chemical Co., Ltd. was founded in 1989 and is based in Baiyin, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tinergy Chemical Co reported revenue of ¥7.8B in FY2025 versus ¥5.4B in FY2021, a compound +9.7%/yr. Reported net income was ¥357M in FY2025, compounding −26.4%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
7.8B CNY
Latest YoY
+13.2%
Avg. growth/yr (3Y)
+12.4%
Avg. growth/yr (5Y)
+15.9%
Avg. growth/yr (21Y)
+17.4%
Revenue +9.7%/yr
FY21 ¥5.4B
FY22 ¥5.5B
FY23 ¥4.9B
FY24 ¥6.9B
FY25 ¥7.8B
Net income −26.4%/yr
FY21 ¥1.2B
FY22 ¥643M
FY23 ¥419M
FY24 ¥565M
FY25 ¥357M

002145 screens 51% overvalued. Compare with BASF SE →

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Cite: Fair Value Calculator (2026). "Tinergy Chemical Co Fair Value". https://www.fairvalue-calculator.com/stock/002145

Peer Group

Chemicals · 334 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 35 · Bottom 25%
Fair Value upside −51% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 0.5% · Below median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 48.3× · Pricier than median
P/B 1.38× · Cheaper than median
P/S (TTM) 2.09× · Pricier than median
EV/EBITDA 12.3× · Pricier than median
PEG 20.71× · 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 35 · sector 20
PAST 11 · sector 19
HEALTH 97 · sector 94
DIVIDEND 9 · sector 27

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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Tinergy Chemical Co (002145) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥2.19 versus a price of ¥4.49, about −51% (overvalued).
What is the fair value of 002145?
Our model-based fair value for Tinergy Chemical Co is ¥2.19 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥4.49.
What is the quality score of 002145?
Tinergy Chemical Co has a Quality Score of 35/100. 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 Tinergy Chemical Co (002145)?
Tinergy Chemical Co reported trailing-twelve-month revenue of about 7.9B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002145?
The net profit margin of Tinergy Chemical Co is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.
Does Tinergy Chemical Co pay a dividend?
Tinergy Chemical Co currently shows a dividend yield of about 0.47% relative to its recent price (as of Jul 22, 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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