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Beijing SDL Technology Co (002658) Fair Value & Analysis

Technology · CN · Market cap 4.8B CNY

BS Beijing SDL Technology Co 002658 · SHE
Price¥7.55
Fair Value¥4.75
Upside-37.1%
Quality67/100
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Mixed Growth
Solidly profitable · 11.4% net margin
Low debt · generates free cash flow
2.72% dividend yield
Ranks above peers (10/14)
Narrow moat 38/100
Evidence: High Range ¥3.56 – ¥5.94 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Share price +9.7% over the past month.

A solid business, but screening 37% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥5.94). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥11.21 ¥4.44 Fair Value ¥4.75 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥4.44 – ¥11.21 · fair‑value band ¥3.56 – ¥5.94 · the ¥7.55 price screens above the ¥4.75 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Beijing SDL Technology Co (002658) currently trades at ¥7.55, while our model-based Fair Value estimate is ¥4.75, implying the stock looks roughly 37.1% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Technology 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, Beijing SDL Technology Co generated revenue of 1.4B CNY at a net margin of 11.4%. Revenue declined 12.1% year over year. It earns a return on equity of 5.9%. The balance sheet holds a net cash position of 497M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥3.56 (bear case) to ¥5.94 (bull case); at ¥7.55, 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 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at -37%, 002658 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ¥4.69 ¥6.30 ¥8.44 80
Residual Income ¥3.23 ¥3.33 ¥3.30 76
Rev-Margin DCF ¥3.71 ¥5.13 ¥6.72 74
All 26 models by family
DCF Models
FCF DCF ¥4.62 ¥6.39 ¥8.90 38
Owner Earnings ¥2.65 ¥3.51 ¥4.72 31
5Y Revenue Exit ¥3.71 ¥5.09 ¥6.79 39
5Y EBITDA Exit ¥4.05 ¥5.71 ¥7.58 41
5Y P/E Exit ¥4.18 ¥5.95 ¥7.74 38
10Y Revenue Exit ¥3.95 ¥5.25 ¥6.87 36
10Y EBITDA Exit ¥4.23 ¥5.66 ¥7.45 37
10Y P/E Exit ¥4.31 ¥5.82 ¥7.56 35
Earnings-Based
Graham-Dodd ¥1.61 ¥4.36 ¥5.71 54
Lynch FV ¥0.8500 ¥1.22 ¥1.59 50
PEG = 1.0 ¥0.8500 ¥1.22 ¥1.59 46
EPV ¥2.90 ¥3.23 ¥3.51 59
Dividend Discount
Gordon GGM ¥2.16 ¥4.30 ¥6.51 70
DDM Multi-Stage ¥2.16 ¥3.30 ¥4.48 61
Multiples
P/E Multiple ¥3.56 ¥4.75 ¥5.94 63
P/S Multiple ¥3.03 ¥4.04 ¥5.04 58
P/B Multiple ¥3.03 ¥4.04 ¥5.04 55
EV/EBIT ¥4.55 ¥5.80 ¥7.05 53
EV/EBITDA ¥4.12 ¥5.23 ¥6.34 54
EV/Revenue ¥3.32 ¥4.41 ¥5.49 43
Asset-Based
NCAV (Graham) ¥2.07 ¥2.77 ¥4.14 50
Growth DCF
Growth DCF ¥4.69 ¥6.30 ¥8.44 80
Rev-Margin DCF ¥3.71 ¥5.13 ¥6.72 74
Economic Profit
Residual Income ¥3.23 ¥3.33 ¥3.30 76
ROIC Compounder ¥2.90 ¥3.23 ¥3.51 72
Growth Earnings
Growth-Adj P/E ¥2.82 ¥4.03 ¥5.24 68

Widest divergence: DCF Models (¥5.66) versus Earnings-Based (¥1.22). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.4B CNY
Revenue growth (YoY) -12.1%
Net margin 11.4%
Return on equity 5.9%
Free cash flow 233M CNY FY2025
P/E ratio 31.5
More key figures
Operating margin 3.5%
EPS (TTM) ¥0.2400
Dividend yield 2.7%
Net cash 497M CNY FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 68 · Market factors (momentum, volatility) 35

Profitability 37
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 78
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

Beijing SDL Technology Co.,Ltd., together with its subsidiaries, engages in the development and sale of environmental monitoring equipment and solutions in China and internationally. It operates through Instrumentation; and Energy Conservation and Environmental Protection segments.

Full company description

Beijing SDL Technology Co.,Ltd., together with its subsidiaries, engages in the development and sale of environmental monitoring equipment and solutions in China and internationally. It operates through Instrumentation; and Energy Conservation and Environmental Protection segments. The company offers products for pollution source emission, atmospheric environment quality, water environment quality, and emergency traceability monitoring; and industrial process analysis, as well as smart industrial park and smart environmental protection software platforms; industrial process analysis; and scientific instruments, such as mass spectrometers. In addition, the company offers environmental housekeeper and consulting services; after sales; and third-party operation, maintenance, and testing services. Further, it provides technical and technology promotion; and trade investment services. Beijing SDL Technology Co.,Ltd. was founded in 2001 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing SDL Technology Co reported revenue of ¥1.4B in FY2025 versus ¥1.4B in FY2021, a compound +0.2%/yr. Reported net income was ¥151M in FY2025, compounding −9.2%/yr from FY2021.

Growth Quality 63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.4B CNY
Latest YoY
−2.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−2.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.8%
Avg. growth/yr (17Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.4%
Revenue +0.2%/yr
FY21 ¥1.4B
FY22 ¥1.5B
FY23 ¥1.5B
FY24 ¥1.4B
FY25 ¥1.4B
Net income −9.2%/yr
FY21 ¥222M
FY22 ¥284M
FY23 ¥203M
FY24 ¥169M
FY25 ¥151M
Character of growth · EPS growth decomposed (2014-2025) −2.9 % p.a.
Revenue per share +4.8 pp

of which total revenue +5.2 pp · buybacks/dilution −0.4 pp

EBIT margin −6.9 pp
Tax rate +0.1 pp
Residual (interest, one-offs) −0.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

002658 screens 37% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Beijing SDL Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/002658

Peer Group

Scientific & Technical Instruments · 163 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 67 · Top 25%
Fair Value upside −37% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 4% · Above median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth -12% · Bottom 25%
Dividend yield (TTM) 2.7% · Top 25%

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 31.5× · Cheaper than median
P/B 1.82× · Cheaper than median
P/S (TTM) 3.51× · Pricier than median
P/FCF 3.1× · Cheaper than median
EV/EBITDA 19.8× · 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 0 · sector 0
FUTURE 0 · sector 32
PAST 24 · sector 24
HEALTH 100 · sector 98
DIVIDEND 54 · sector 21

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $315.90 $84.16 -73%
Garmin Ltd GRMN $241.76 $146.67 -39%
Teledyne Technologies Incorporated TDY $635.52 $367.58 -42%
Chroma ATE Inc 2360 1,905 TWD 286.15 TWD -85%
Hexagon AB HEXAB kr 80.10 kr 52.93 -34%
MKS Inc MKSI $324.69 $77.46 -76%
AVIC Chengdu Aircraft Company 302132 ¥52.91 ¥34.47 -35%
Fortive Corporation FTV $61.78 $33.84 -45%
Trimble Inc TRMB $52.72 $24.47 -54%
Cognex Corporation CGNX $64.07 $13.75 -79%

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Frequently asked questions

Is Beijing SDL Technology Co (002658) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥4.75 versus a price of ¥7.55, about −37% (overvalued).
What is the fair value of 002658?
Our model-based fair value for Beijing SDL Technology Co is ¥4.75 (as of Aug 13, 2026), built from audited fundamentals. The current price is ¥7.55.
What is the quality score of 002658?
Beijing SDL Technology Co has a Quality Score of 67/100. 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 Beijing SDL Technology Co (002658)?
Beijing SDL Technology Co reported trailing-twelve-month revenue of about 1.4B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 002658?
The net profit margin of Beijing SDL Technology Co is about 11.4%, meaning it keeps roughly 11.4% of revenue as net income. Based on the latest reported figures.
Does Beijing SDL Technology Co pay a dividend?
Beijing SDL Technology Co currently shows a dividend yield of about 2.39% relative to its recent price (as of Aug 13, 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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