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Zhuzhou Tianqiao Crane Co (002523) Fair Value & Analysis

Industrials · CN · Market cap 4.7B CNY

ZT Zhuzhou Tianqiao Crane Co 002523 · SHE
Price¥3.28
Fair Value¥1.77
Upside-46.0%
Quality65/100
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Healthy Growth
Thin margins · 5.5% net margin
Low debt · generates free cash flow
0.60% dividend yield
Trails peers (3/14)
Narrow moat 32/100
Evidence: High Range ¥1.33 – ¥2.21 Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Share price +10.4% over the past month.

A solid business, but screening 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.21). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥4.92 ¥1.93 Fair Value ¥1.77 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 ¥1.93 – ¥4.92 · fair‑value band ¥1.33 – ¥2.21 · the ¥3.28 price screens above the ¥1.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

Full chart & analysis →

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Analysis

Zhuzhou Tianqiao Crane Co (002523) currently trades at ¥3.28, while our model-based Fair Value estimate is ¥1.77, implying the stock looks roughly 46.0% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials 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, Zhuzhou Tianqiao Crane Co generated revenue of 2.1B CNY at a net margin of 5.5%. It earns a return on equity of 4.7%. The balance sheet holds a net cash position of 769M CNY. The stock trades on a trailing P/E of 41.3. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥1.33 (bear case) to ¥2.21 (bull case); at ¥3.28, 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 35% 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 12% fair-value upside, at -46%, 002523 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 ¥2.48 ¥3.59 ¥5.29 80
Residual Income ¥1.31 ¥1.31 ¥1.21 76
Rev-Margin DCF ¥1.79 ¥2.37 ¥3.09 74
All 26 models by family
DCF Models
FCF DCF ¥2.48 ¥3.65 ¥5.51 38
Owner Earnings ¥1.80 ¥2.54 ¥3.70 31
5Y Revenue Exit ¥1.79 ¥2.36 ¥3.09 39
5Y EBITDA Exit ¥1.92 ¥2.62 ¥3.46 41
5Y P/E Exit ¥2.09 ¥2.95 ¥3.89 38
10Y Revenue Exit ¥2.00 ¥2.59 ¥3.42 36
10Y EBITDA Exit ¥2.10 ¥2.78 ¥3.70 37
10Y P/E Exit ¥2.21 ¥3.01 ¥4.05 35
Earnings-Based
Graham-Dodd ¥0.5700 ¥2.27 ¥3.09 54
Lynch FV ¥0.5600 ¥0.8000 ¥1.05 50
PEG = 1.0 ¥0.5600 ¥0.8000 ¥1.05 46
EPV ¥1.37 ¥1.48 ¥1.58 59
Dividend Discount
Gordon GGM ¥0.1500 ¥0.2900 ¥0.4500 70
DDM Multi-Stage ¥0.1500 ¥0.2500 ¥0.3100 61
Multiples
P/E Multiple ¥1.33 ¥1.77 ¥2.21 63
P/S Multiple ¥1.07 ¥1.43 ¥1.79 58
P/B Multiple ¥1.07 ¥1.43 ¥1.79 55
EV/EBIT ¥1.76 ¥2.12 ¥2.47 53
EV/EBITDA ¥1.73 ¥2.08 ¥2.43 54
EV/Revenue ¥1.45 ¥1.78 ¥2.11 43
Asset-Based
NCAV (Graham) ¥0.8700 ¥1.17 ¥1.75 50
Growth DCF
Growth DCF ¥2.48 ¥3.59 ¥5.29 80
Rev-Margin DCF ¥1.79 ¥2.37 ¥3.09 74
Economic Profit
Residual Income ¥1.31 ¥1.31 ¥1.21 76
ROIC Compounder ¥1.37 ¥1.48 ¥1.58 72
Growth Earnings
Growth-Adj P/E ¥1.00 ¥1.42 ¥1.85 68

Widest divergence: DCF Models (¥2.62) versus Dividend Discount (¥0.2500). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.1B CNY
Net margin 5.5%
Return on equity 4.7%
Free cash flow 219M CNY FY2025
P/E ratio 41.3
Operating margin 4.9%
More key figures
EPS (TTM) ¥0.0800
Dividend yield 0.6%
EPS growth (YoY) -18.8%
Net cash 769M CNY FY2024

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 66 · Market factors (momentum, volatility) 33

Profitability 27
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 84
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

Zhuzhou Tianqiao Crane Co., Ltd. manufactures and sells material handling equipment for electrolytic aluminum, steel, construction machinery, and non-ferrous industries in China and internationally.

Full company description

Zhuzhou Tianqiao Crane Co., Ltd. manufactures and sells material handling equipment for electrolytic aluminum, steel, construction machinery, and non-ferrous industries in China and internationally. The company offers PTM pot tending and FTM furnace tending machines, anode stacking and insulation overhead cranes, centralized overhaul transfer systems of pots, and automatic storage systems of anode carbon blocks; numerical control cranes and cranes for power stations; and cranes for copper electrolysis, copper smelting, lead electrolysis, and zinc electrowinning, as well as automatic treatment systems of copper slag tanks. It also provides ladle, charging, slab handling, electromagnetic beam, overhead stacking, and steel plate transfer cranes; and graphitized new material suction/feeding cranes. Zhuzhou Tianqiao Crane Co., Ltd. was founded in 1956 and is based in Zhuzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhuzhou Tianqiao Crane Co reported revenue of ¥2.1B in FY2025 versus ¥1.8B in FY2021, a compound +4.0%/yr. Reported net income was ¥119M in FY2025, compounding +18.7%/yr from FY2021.

Growth Quality 73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.1B CNY
Latest YoY
+11.7%
Avg. growth/yr (3Y)
+9.3%
Avg. growth/yr (5Y)
+6.7%
Avg. growth/yr (18Y)
+9.8%
Revenue +4.0%/yr
FY21 ¥1.8B
FY22 ¥1.6B
FY23 ¥1.7B
FY24 ¥1.9B
FY25 ¥2.1B
Net income +18.7%/yr
FY21 ¥60.2M
FY22 ¥40.8M
FY23 ¥37.3M
FY24 ¥52.8M
FY25 ¥119M

002523 screens 46% overvalued. Compare with Caterpillar Inc →

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Cite: Fair Value Calculator (2026). "Zhuzhou Tianqiao Crane Co Fair Value". https://www.fairvalue-calculator.com/stock/002523

Peer Group

Farm & Heavy Construction Machinery · 148 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 65 · Top 25%
Fair Value upside −46% · Below median
Return on equity (TTM) 5% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 6% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 0% · Below median
Dividend yield (TTM) 0.6% · Bottom 25%
Debt / equity 0.02× · Lower than 75% of peers

Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper

P/E (TTM) 41.3× · Pricier than 75% of peers
P/B 1.89× · Pricier than median
P/S (TTM) 2.26× · Pricier than 75% of peers
P/FCF 3.2× · Cheaper than median
EV/EBITDA 32.2× · 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 22
FUTURE 0 · sector 30
PAST 19 · sector 32
HEALTH 99 · sector 93
DIVIDEND 12 · sector 40

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $952.41 $307.83 -68%
Deere & Company DE $597.24 $187.86 -69%
AB Volvo (publ), VOLVA kr 336.60 kr 288.08 -14%
PACCAR Inc PCAR $126.20 $94.80 -25%
Epiroc AB EPIA kr 251.90 kr 144.14 -43%
Exor N.V EXO €69.40 €219.41 +216%
Sany Heavy Industry Co 600031 ¥18.65 ¥20.84 +12%
XCMG Construction Machinery Co 000425 ¥8.39 ¥11.79 +41%
Sinotruk (Hong Kong) Limited 3808 HK$41.00 HK$53.51 +31%
Yutong Bus Co 600066 ¥32.29 ¥42.00 +30%

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Frequently asked questions

Is Zhuzhou Tianqiao Crane Co (002523) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥1.77 versus a price of ¥3.28, about −46% (overvalued).
What is the fair value of 002523?
Our model-based fair value for Zhuzhou Tianqiao Crane Co is ¥1.77 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥3.28.
What is the quality score of 002523?
Zhuzhou Tianqiao Crane Co has a Quality Score of 65/100. 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 Zhuzhou Tianqiao Crane Co (002523)?
Zhuzhou Tianqiao Crane Co reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002523?
The net profit margin of Zhuzhou Tianqiao Crane Co is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. Based on the latest reported figures.
Does Zhuzhou Tianqiao Crane Co pay a dividend?
Zhuzhou Tianqiao Crane Co currently shows a dividend yield of about 0.60% 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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