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Lancy Co (002612) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 5.3B CNY

LC Lancy Co 002612 · SHE
Price¥15.54
Fair Value¥24.75
Upside+59.3%
Quality65/100
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Mixed Growth
Solidly profitable · 15.4% net margin
Low debt · generates free cash flow
9.93% dividend yield
Ranks above peers (11/15)
Moderate moat 61/100
Evidence: Medium Range ¥14.09 – ¥47.02 Share as image

Fair value as of: Jul 24, 2026

From 26 valuation models · updated 17 days ago

Share price +40.9% over the past month.

A solid business, screening 59% undervalued on our models.

What matters now

  • The model range is unusually wide (¥14.09 to ¥47.02). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

¥60.86 ¥11.03 Fair Value ¥24.75 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range ¥11.03 – ¥60.86 · fair‑value band ¥14.09 – ¥47.02 · the ¥15.54 price screens below the ¥24.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Lancy Co (002612) currently trades at ¥15.54, while our model-based Fair Value estimate is ¥24.75, implying the stock looks roughly 59.3% undervalued today. The Quality Score stands at 65/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Lancy Co generated revenue of 6.2B CNY at a net margin of 15.4%. Revenue grew 12.0% year over year. It earns a return on equity of 27.1%. Net debt stands at 731M CNY. Fundamentals as of Jul 24, 2026

Our scenario range runs from ¥14.09 (bear case) to ¥47.02 (bull case); at ¥15.54, 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 29% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 59%, 002612 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 ¥10.84 ¥20.19 ¥34.19 80
Residual Income ¥15.62 ¥22.36 ¥180.26 76
Rev-Margin DCF ¥11.44 ¥20.59 ¥33.25 74
All 26 models by family
DCF Models
FCF DCF ¥11.11 ¥19.67 ¥38.89 38
Owner Earnings ¥35.33 ¥68.38 ¥128.73 31
5Y Revenue Exit ¥11.44 ¥21.00 ¥34.60 39
5Y EBITDA Exit ¥14.14 ¥26.94 ¥43.88 41
5Y P/E Exit ¥28.17 ¥57.76 ¥94.01 38
10Y Revenue Exit ¥10.87 ¥20.02 ¥35.39 36
10Y EBITDA Exit ¥13.04 ¥24.44 ¥43.47 37
10Y P/E Exit ¥22.38 ¥47.36 ¥87.17 35
Earnings-Based
Graham-Dodd ¥15.36 ¥87.45 ¥121.56 54
Lynch FV ¥24.58 ¥35.12 ¥45.66 50
PEG = 1.0 ¥24.58 ¥35.12 ¥45.66 46
EPV ¥9.67 ¥11.07 ¥12.27 59
Dividend Discount
Gordon GGM ¥4.16 ¥8.29 ¥12.55 70
DDM Multi-Stage ¥4.16 ¥7.16 ¥8.75 61
Multiples
P/E Multiple ¥37.27 ¥49.69 ¥62.11 63
P/S Multiple ¥12.21 ¥16.28 ¥20.35 58
P/B Multiple ¥23.06 ¥30.75 ¥38.44 55
EV/EBIT ¥16.61 ¥21.86 ¥27.10 53
EV/EBITDA ¥16.42 ¥21.60 ¥26.79 54
EV/Revenue ¥11.48 ¥16.02 ¥20.57 43
Asset-Based
NCAV (Graham) ¥3.84 ¥5.15 ¥7.69 50
Growth DCF
Growth DCF ¥10.84 ¥20.19 ¥34.19 80
Rev-Margin DCF ¥11.44 ¥20.59 ¥33.25 74
Economic Profit
Residual Income ¥15.62 ¥22.36 ¥180.26 76
ROIC Compounder ¥10.79 ¥14.87 ¥19.27 72
Growth Earnings
Growth-Adj P/E ¥37.42 ¥53.45 ¥69.49 68

Widest divergence: Growth Earnings (¥53.45) versus Asset-Based (¥5.15). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 6.2B CNY
Revenue growth (YoY) +12.0%
Net margin 15.4%
Return on equity 27.1%
Free cash flow 340M CNY FY2025
P/E ratio 5.5
More key figures
Operating margin 11.0%
EPS (TTM) ¥2.15
Dividend yield 9.9%
EPS growth (YoY) -49.4%
Net debt 731M CNY FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 60 · Market factors (momentum, volatility) 39

Profitability 73
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 82
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

Lancy Co., Ltd., together with its subsidiaries, engages in the design, production, and sale of apparel and medical services in China and internationally. The company offers women's clothing under the LANCY, LIME, MoJo S.Phine, and m.tsubomi brands; and children's clothing under the Agabang, ETTOI, DearBaby, 2ya2yao, Putto, Design Skin, and other brands.

Full company description

Lancy Co., Ltd., together with its subsidiaries, engages in the design, production, and sale of apparel and medical services in China and internationally. The company offers women's clothing under the LANCY, LIME, MoJo S.Phine, and m.tsubomi brands; and children's clothing under the Agabang, ETTOI, DearBaby, 2ya2yao, Putto, Design Skin, and other brands. It is also involved in the medical beauty business under the Milan Baiyu and HANJIN brands; provision of medical rejuvenation services under the Jingfu brand; and operation of medical cosmetology centers, including cosmetic surgery, dermatology, traditional Chinese medicine, micro plastic surgery, and cosmetic dentistry under the Gao Yisheng brand. The company exports its products. It sells its products through stores and online. The company was founded in 2000 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lancy Co reported revenue of ¥6.0B in FY2025 versus ¥3.8B in FY2021, a compound +11.9%/yr. Reported net income was ¥999M in FY2025, compounding +54.9%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
6.0B CNY
Latest YoY
+5.5%
Avg. growth/yr (3Y)
+13.2%
Avg. growth/yr (5Y)
+15.9%
Avg. growth/yr (17Y)
+21.4%
Revenue +11.9%/yr
FY21 ¥3.8B
FY22 ¥4.1B
FY23 ¥5.7B
FY24 ¥5.7B
FY25 ¥6.0B
Net income +54.9%/yr
FY21 ¥173M
FY22 ¥21.4M
FY23 ¥254M
FY24 ¥257M
FY25 ¥999M

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Cite: Fair Value Calculator (2026). "Lancy Co Fair Value". https://www.fairvalue-calculator.com/stock/002612

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 65 · Top 25%
Fair Value upside +59% · Top 25%
Return on equity (TTM) 27% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 11% · Above median
Revenue growth 12% · Top 25%
Dividend yield (TTM) 9.9% · Top 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 5.5× · Cheaper than 75% of peers
P/B 1.54× · Pricier than median
P/S (TTM) 0.85× · Pricier than median
P/FCF 2.3× · Pricier than median
EV/EBITDA 8.2× · Cheaper than median
PEG 1.41× · 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 100 · sector 33
FUTURE 60 · sector 4
PAST 100 · sector 21
HEALTH 94 · sector 98
DIVIDEND 100 · 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 24, 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 Lancy Co (002612) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of ¥24.75 versus a price of ¥15.54, about +59% (undervalued).
What is the fair value of 002612?
Our model-based fair value for Lancy Co is ¥24.75 (as of Jul 24, 2026), built from audited fundamentals. The current price is ¥15.54.
What is the quality score of 002612?
Lancy 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 Lancy Co (002612)?
Lancy Co reported trailing-twelve-month revenue of about 6.2B CNY (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 002612?
The net profit margin of Lancy Co is about 15.4%, meaning it keeps roughly 15.4% of revenue as net income. Based on the latest reported figures.
Does Lancy Co pay a dividend?
Lancy Co currently shows a dividend yield of about 9.93% relative to its recent price (as of Jul 24, 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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