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Anhui Fengxing Wear Resistant Materials Co Ltd (002760) Fair Value & Analysis

Industrials · CN · Market cap 2.0B CNY (≈ $291M) · ISIN CNE100002045

What is Anhui Fengxing Wear Resistant Materials Co Ltd really worth?

AF Anhui Fengxing Wear Resistant Materials Co Ltd 002760 · SHE
Price¥17.83
Fair Value¥3.18
Upside−82.2%
Quality68/100

A solid business, but trading 461% above our fair value of ¥3.18.

As of Aug 13, 2026, the fair value of Anhui Fengxing Wear Resistant Materials Co Ltd is ¥3.18 per share against a price of ¥17.83, so the fair value sits 82% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −2.1 %/yr)
!Thin margins · 3.8% net margin
!Trails peers (3/14)
!Narrow moat 26/100
!Evidence only low, so the estimate is less certain
!Weak on past: 12 out of 100
!Weak on dividend: 2 out of 100
Evidence: Low Range ¥2.38 – ¥3.97

Fair value as of: Aug 13, 2026

From 25 valuation models · updated 23 days ago

Share price +5.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (¥3.97). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

¥42.82 ¥11.67 Fair Value ¥3.18 Mar 2021 Sep 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 ¥11.67 – ¥42.82 · fair‑value band ¥2.38 – ¥3.97 · the ¥17.83 price screens above the ¥3.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Anhui Fengxing Wear Resistant Materials Co Ltd (002760) currently trades at ¥17.83, while our model-based Fair Value estimate is ¥3.18, implying the stock looks roughly 460.5% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of ¥7.80 per share, and 0 of the 25 models we run sit above the ¥17.83 price. Bear case: the Growth Earnings group reads lowest at ¥2.64, and 25 of the 25 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Anhui Fengxing Wear Resistant Materials Co Ltd generated revenue of 628M CNY at a net margin of 3.8%. Revenue declined 3.1% year over year. It earns a return on equity of 2.9%. The balance sheet holds a net cash position of 286M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥2.38 (bear case) to ¥3.97 (bull case); at ¥17.83, 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 33% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at −82%, 002760 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.1501 per share, which is 4.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence ¥7.92 ¥9.88 ¥12.32 82
Growth DCF ¥8.01 ¥9.79 ¥11.90 80
Owner Earnings ¥7.11 ¥8.78 ¥10.86 78
All 25 models by family
DCF Models
FCF DCF best evidence ¥7.92 ¥9.88 ¥12.32 82
Owner Earnings ¥7.11 ¥8.78 ¥10.86 78
5Y Revenue Exit ¥5.31 ¥5.99 ¥6.76 74
5Y EBITDA Exit ¥6.66 ¥8.39 ¥10.30 77
5Y P/E Exit ¥5.91 ¥7.06 ¥8.18 72
10Y Revenue Exit ¥6.34 ¥7.14 ¥8.01 68
10Y EBITDA Exit ¥7.14 ¥8.62 ¥10.37 70
10Y P/E Exit ¥6.71 ¥7.80 ¥8.95 65
Earnings-Based
Graham-Dodd ¥1.27 ¥3.05 ¥3.94 65
PEG = 1.0 ¥0.5400 ¥0.7700 ¥1.00 57
EPV ¥3.21 ¥3.32 ¥3.41 74
Dividend Discount
Gordon GGM ¥0.1300 ¥0.2100 ¥0.2900 68
DDM Multi-Stage ¥0.1300 ¥0.1800 ¥0.2300 67
Multiples
P/E Multiple ¥2.38 ¥3.18 ¥3.97 63
P/S Multiple ¥2.38 ¥3.18 ¥3.97 58
P/B Multiple ¥2.38 ¥3.18 ¥3.97 55
EV/EBIT ¥3.71 ¥4.14 ¥4.58 66
EV/EBITDA ¥6.25 ¥7.53 ¥8.81 67
EV/Revenue ¥3.53 ¥4.02 ¥4.50 54
Asset-Based
NCAV (Graham) ¥3.84 ¥5.15 ¥7.69 54
Growth DCF
Growth DCF ¥8.01 ¥9.79 ¥11.90 80
Rev-Margin DCF ¥5.31 ¥6.11 ¥7.02 74
Economic Profit
Residual Income ¥5.12 ¥4.73 ¥3.49 76
ROIC Compounder ¥3.21 ¥3.32 ¥3.41 72
Growth Earnings
Growth-Adj P/E ¥1.85 ¥2.64 ¥3.43 67

Widest divergence: DCF Models (¥7.80) versus Dividend Discount (¥0.1800). Highest evidence: FCF DCF (82).

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Key figures & financial health

P/E ratio 81.0
P/S ratio 2.58 P/E × margin
EPS (TTM) ¥0.2200 price ÷ EPS = P/E 81.0
Dividend yield 0.1% payout 7.5%
Net margin 3.2% FY2025
Return on equity 2.9% TTM
More key figures
Profitability
Return on assets (EBIT) 0.5% avg 5y
Operating margin 4.7% TTM
Growth
Revenue (TTM) 628M CNY TTM
Revenue growth (YoY) −3.1% 3y avg −8.1%
EPS growth (YoY) +100%
Balance sheet & cash flow
Free cash flow 67.1M CNY FY2025
Net cash 286M CNY FY2024

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 67 · Market factors (momentum, volatility) 29

Profitability 24
Margins and returns on capital today
Quality Growth 73
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 75
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Fengxing Co., Ltd. researches and develops, produces, sells, and services metal casting wear-resistant materials under the Phoenix and Fengxing brands in China.

Full company description

Fengxing Co., Ltd. researches and develops, produces, sells, and services metal casting wear-resistant materials under the Phoenix and Fengxing brands in China. The company offers grinding mediums, resistant steel products, mill liners, resist materials, hammer crushers, counterattack crushers, jaw crushers, and cooling machines, as well as designs marine electrical system solutions, and special motors. Its products are used in metallurgy, mining, building materials, cement, thermal power, and other industries, as well as in the production of grinding materials. The company also engages in the import and export activities; recycling of waste materials; provision of ship electrical system solutions; investment, consulting, and management activities; property management business; and design, production, and sale of special motors and their integrated products. It also exports its products to Australia, the Philippines, Japan, Indonesia, South Korea, the United States, and other countries and regions. The company was formerly known as Anhui Fengxing Wear Resistant Materials Co., Ltd. and changed its name to Fengxing Co., Ltd. in January 2022. Fengxing Co., Ltd. was founded in 1997 and is headquartered in Nanchang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Anhui Fengxing Wear Resistant Materials Co Ltd reported revenue of 633M CNY in FY2025 versus 945M CNY in FY2021, a compound −9.5%/yr. Reported net income was 20.2M CNY in FY2025, compounding −32.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
633M CNY
Latest YoY
+7.7%
Avg. revenue 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.
−8.1%
Avg. revenue 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.
−2.1%
Avg. revenue growth/yr (14Y) 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.
−0.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−24.2% · in CNY
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−24.3%
Dividend yield0.1%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −24.3% vs 10Y −6.9%, flattening
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13.5% (2020) → 2.1% (2025) · falling
Worst earnings drop355% (2017) (loss year, drop beyond 100%) · in CNY
⚠ Revenue per share shrinking 2.9%/yr over ~10Y (margins eroding too) Structural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Revenue −9.5%/yr
FY21 945M CNY
FY22 816M CNY
FY23 691M CNY
FY24 588M CNY
FY25 633M CNY
Net income −32.2%/yr
FY21 95.5M CNY
FY22 62.5M CNY
FY23 −59.6M CNY
FY24 −60.8M CNY
FY25 20.2M CNY

002760 screens 461% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Anhui Fengxing Wear Resistant Materials Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002760.SHE

Peer Group

Metal Fabrication · 249 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 68 · Top 25%
Fair Value upside −82% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 0% · Below median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth −3% · Below median
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 81.0× · Pricier than 75% of peers
P/B 2.36× · Pricier than median
P/S (TTM) 3.11× · Pricier than 75% of peers
P/FCF 4.3× · Pricier than median
EV/EBITDA 36.4× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 35
PAST12 · sector 21
HEALTH99 · sector 95
DIVIDEND2 · sector 26

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

Similar stocks

10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Carpenter Technology Corporation CRS $490.58 $101.35 −79%
ATI Inc ATI $210.76 $35.74 −83%
Mueller Industries, Inc MLI $62.80 $59.33 −6%
Aurubis AG NDA €178.90 €223.43 +25%
China International Marine Containers (Group) Co 000039 ¥9.39 ¥3.39 −64%
Commercial Metals Company CMC $68.16 $13.01 −81%
JL Mag Rare-Earth Co 300748 ¥27.08 ¥8.34 −69%
Viohalco S.A VIO €16.46 €14.98 −9%
ESAB Corporation ESAB $86.05 $52.40 −39%
Ningbo Zhenyu Technology Co 300953 ¥104.36 ¥44.23 −58%

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Frequently asked questions

Is Anhui Fengxing Wear Resistant Materials Co Ltd (002760) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥3.18 versus a price of ¥17.83, about −82% upside (overvalued).
What is the fair value of 002760?
Our model-based fair value for Anhui Fengxing Wear Resistant Materials Co Ltd is ¥3.18 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥17.83.
What is the quality score of 002760?
Anhui Fengxing Wear Resistant Materials Co Ltd has a Quality Score of 68/100. 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 price target for Anhui Fengxing Wear Resistant Materials Co Ltd (002760)?
Our model-based price target is the fair value of ¥3.18 (as of Aug 13, 2026) from 25 valuation models. Cautious scenario ¥2.38, optimistic scenario ¥3.97. It is a calculation from audited fundamentals, not an analyst target.
What is the Anhui Fengxing Wear Resistant Materials Co Ltd stock forecast for 2026?
Our models put fair value at ¥3.18, about −82% upside versus a price of ¥17.83 (overvalued). Cautious scenario ¥2.38, optimistic scenario ¥3.97. The calculation is refreshed regularly with new filings.
What is the revenue of Anhui Fengxing Wear Resistant Materials Co Ltd (002760)?
Anhui Fengxing Wear Resistant Materials Co Ltd reported trailing-twelve-month revenue of about 628M CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 002760?
The net profit margin of Anhui Fengxing Wear Resistant Materials Co Ltd is about 3.8%, meaning it keeps roughly 3.8% of revenue as net income. Based on the latest reported figures.
Does Anhui Fengxing Wear Resistant Materials Co Ltd pay a dividend?
Anhui Fengxing Wear Resistant Materials Co Ltd currently shows a dividend yield of about 0.09% relative to its recent price (as of Aug 13, 2026).
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