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Bxn Holding (002154) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 5.8B CNY

BH Bxn Holding 002154 · SHE
Price¥4.10
Fair Value¥5.15
Upside+25.6%
Quality63/100
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Healthy Growth
Thin margins · 7.7% net margin
Low debt · generates free cash flow
4.22% dividend yield
Ranks above peers (12/14)
Moderate moat 48/100
Evidence: High Range ¥3.86 – ¥6.44 Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from ¥5.37 to ¥5.15 (−4.1%) since Jun 25, 2026. Share price +7.3% over the past month.

A solid business, screening 26% undervalued on our models.

What matters now

  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from ¥3.86 (bear) to ¥6.44 (bull), base ¥5.15. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥6.07 ¥2.23 Fair Value ¥5.15 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 ¥2.23 – ¥6.07 · fair‑value band ¥3.86 – ¥6.44 · the ¥4.10 price screens below the ¥5.15 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

Bxn Holding (002154) currently trades at ¥4.10, while our model-based Fair Value estimate is ¥5.15, implying the stock looks roughly 25.6% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical 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, Bxn Holding generated revenue of 5.3B CNY at a net margin of 7.7%. Revenue grew 10.5% year over year. It earns a return on equity of 8.6%. The balance sheet holds a net cash position of 1.6B CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥3.86 (bear case) to ¥6.44 (bull case); at ¥4.10, 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 15% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 26%, 002154 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 ¥3.96 ¥5.79 ¥8.71 80
Residual Income ¥2.56 ¥2.70 ¥2.89 76
Rev-Margin DCF ¥4.14 ¥6.27 ¥9.00 74
All 24 models by family
DCF Models
FCF DCF ¥3.98 ¥5.99 ¥9.31 38
Owner Earnings ¥3.44 ¥5.04 ¥7.70 31
5Y Revenue Exit ¥4.14 ¥6.33 ¥9.30 39
5Y EBITDA Exit ¥5.28 ¥8.66 ¥12.91 41
5Y P/E Exit ¥4.55 ¥7.17 ¥10.15 38
10Y Revenue Exit ¥3.96 ¥5.99 ¥9.08 36
10Y EBITDA Exit ¥4.79 ¥7.65 ¥12.01 37
10Y P/E Exit ¥4.32 ¥6.59 ¥9.77 35
Earnings-Based
Graham-Dodd ¥1.59 ¥7.19 ¥9.85 54
Lynch FV ¥1.88 ¥2.68 ¥3.48 50
PEG = 1.0 ¥1.88 ¥2.68 ¥3.48 46
EPV ¥3.93 ¥4.35 ¥4.70 59
Multiples
P/E Multiple ¥3.86 ¥5.15 ¥6.44 63
P/S Multiple ¥2.99 ¥3.98 ¥4.98 58
P/B Multiple ¥2.99 ¥3.98 ¥4.98 55
EV/EBIT ¥6.76 ¥8.58 ¥10.40 53
EV/EBITDA ¥6.35 ¥8.04 ¥9.72 54
EV/Revenue ¥4.27 ¥5.54 ¥6.82 43
Asset-Based
NCAV (Graham) ¥1.59 ¥2.13 ¥3.18 50
Growth DCF
Growth DCF ¥3.96 ¥5.79 ¥8.71 80
Rev-Margin DCF ¥4.14 ¥6.27 ¥9.00 74
Economic Profit
Residual Income ¥2.56 ¥2.70 ¥2.89 76
ROIC Compounder ¥4.20 ¥5.17 ¥6.46 72
Growth Earnings
Growth-Adj P/E ¥3.12 ¥4.46 ¥5.80 68

Widest divergence: DCF Models (¥6.33) versus Asset-Based (¥2.13). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.3B CNY
Revenue growth (YoY) +10.5%
Net margin 7.7%
Return on equity 8.6%
Free cash flow 324M CNY FY2025
P/E ratio 14.8
More key figures
Operating margin 16.9%
EPS (TTM) ¥0.2700
Dividend yield 4.2%
EPS growth (YoY) +33.3%
Net cash 1.6B CNY FY2024

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 64 · Market factors (momentum, volatility) 60

Profitability 49
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 49
Distance to the 52-week high (market factor)
Net Issuance 83
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

Bxn Holding Co., Ltd. engages in the research and development, production, and sale of branded men and women clothing products in China. Its products include suits, trousers, shirts, jackets, sheep sweaters, POLO shirts, down jackets, quick-drying clothes, casual pants, leather shoes, and leather goods.

Full company description

Bxn Holding Co., Ltd. engages in the research and development, production, and sale of branded men and women clothing products in China. Its products include suits, trousers, shirts, jackets, sheep sweaters, POLO shirts, down jackets, quick-drying clothes, casual pants, leather shoes, and leather goods. The company sells its products through retail market, e-commerce, live broadcasting, online and offline channels under the SAINT ANGELO, Baoxiniao, HAZZYS, Baoniao, SOLOSALI, Camicissima, Lafuma, Dombolini, HENRY GRANT, elitebasic, BONO, and Ashwell brand names. In addition, it is involved in industrial investment. The company was formerly known as Baoxiniao Holding Co., Ltd. and changed its name to Bxn Holding Co., Ltd. in May 2026. Bxn Holding Co., Ltd. was founded in 2001 and is headquartered in Wenzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bxn Holding reported revenue of ¥5.2B in FY2025 versus ¥4.5B in FY2021, a compound +3.8%/yr. Reported net income was ¥342M in FY2025, compounding −7.4%/yr from FY2021.

Growth Quality 67/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
5.2B CNY
Latest YoY
+0.3%
Avg. growth/yr (3Y)
+6.2%
Avg. growth/yr (5Y)
+6.4%
Avg. growth/yr (21Y)
+14.6%
Revenue +3.8%/yr
FY21 ¥4.5B
FY22 ¥4.3B
FY23 ¥5.3B
FY24 ¥5.2B
FY25 ¥5.2B
Net income −7.4%/yr
FY21 ¥464M
FY22 ¥459M
FY23 ¥698M
FY24 ¥495M
FY25 ¥342M

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Cite: Fair Value Calculator (2026). "Bxn Holding Fair Value". https://www.fairvalue-calculator.com/stock/002154

Peer Group

Apparel Manufacturing · 212 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 63 · Above median
Fair Value upside +26% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 17% · Top 25%
Revenue growth 11% · Top 25%
Dividend yield (TTM) 4.2% · Above median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 14.8× · Cheaper than median
P/B 1.26× · Cheaper than median
P/S (TTM) 1.10× · Pricier than median
P/FCF 2.7× · Pricier than median
EV/EBITDA 7.4× · 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 67 · sector 33
FUTURE 53 · sector 4
PAST 34 · sector 21
HEALTH 100 · sector 98
DIVIDEND 84 · sector 49

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

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 163.45 kr 165.47 +1%
Ralph Lauren Corporation RL $374.08 $224.21 -40%
Moncler S.p.A MONC €52.08 €50.69 -3%
LPP SA LPP 19,380 PLN 17,754 PLN -8%
Bosideng International Holdings 3998 HK$4.88 HK$5.92 +21%
Youngor Fashion Co 600177 ¥7.57 ¥5.59 -26%
Page Industries Limited PAGEIND ₹39,900 ₹12,395 -69%
Hla Group 600398 ¥6.05 ¥9.92 +64%
Eclat Textile Co 1476 333.50 TWD 357.81 TWD +7%
Youngone Corporation 111770 87,600 KRW 196,629 KRW +124%

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Frequently asked questions

Is Bxn Holding (002154) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥5.15 versus a price of ¥4.10, about +26% (undervalued).
What is the fair value of 002154?
Our model-based fair value for Bxn Holding is ¥5.15 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥4.10.
What is the quality score of 002154?
Bxn Holding has a Quality Score of 63/100. 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 Bxn Holding (002154)?
Bxn Holding reported trailing-twelve-month revenue of about 5.3B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002154?
The net profit margin of Bxn Holding is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.
Does Bxn Holding pay a dividend?
Bxn Holding currently shows a dividend yield of about 4.22% 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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