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Beijing Sanfo Outdoor Products Co (002780) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 2.2B CNY

BS Beijing Sanfo Outdoor Products Co 002780 · SHE
Price¥13.59
Fair Value¥7.10
Upside-47.8%
Quality61/100
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Healthy Growth
Thin margins · 7.0% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Moderate moat 54/100
Evidence: Medium Range ¥5.32 – ¥8.87 Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Share price +7.9% over the past month.

A solid business, but screening 48% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥8.87). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥22.22 ¥8.26 Fair Value ¥7.10 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 ¥8.26 – ¥22.22 · fair‑value band ¥5.32 – ¥8.87 · the ¥13.59 price screens above the ¥7.10 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

Beijing Sanfo Outdoor Products Co (002780) currently trades at ¥13.59, while our model-based Fair Value estimate is ¥7.10, implying the stock looks roughly 47.8% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Cyclical 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: medium).

Over the trailing twelve months, Beijing Sanfo Outdoor Products Co generated revenue of 1.0B CNY at a net margin of 7.0%. Revenue grew 36.0% year over year. It earns a return on equity of 9.1%. Net debt stands at 12.7M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥5.32 (bear case) to ¥8.87 (bull case); at ¥13.59, 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 29% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at -48%, 002780 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 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 ¥5.16 ¥8.55 ¥14.19 80
Residual Income ¥3.77 ¥3.91 ¥4.05 76
Rev-Margin DCF ¥5.54 ¥9.42 ¥14.64 74
All 26 models by family
DCF Models
FCF DCF ¥5.25 ¥9.11 ¥15.90 38
Owner Earnings ¥8.32 ¥14.85 ¥26.34 31
5Y Revenue Exit ¥5.54 ¥9.57 ¥15.22 39
5Y EBITDA Exit ¥8.67 ¥16.28 ¥26.20 41
5Y P/E Exit ¥5.61 ¥9.74 ¥14.60 38
10Y Revenue Exit ¥5.23 ¥9.03 ¥15.20 36
10Y EBITDA Exit ¥7.46 ¥13.94 ¥24.51 37
10Y P/E Exit ¥5.45 ¥9.16 ¥14.68 35
Earnings-Based
Graham-Dodd ¥2.19 ¥11.47 ¥15.87 54
Lynch FV ¥3.15 ¥4.49 ¥5.84 50
PEG = 1.0 ¥3.15 ¥4.49 ¥5.84 46
EPV ¥7.05 ¥8.04 ¥8.89 59
Dividend Discount
Gordon GGM ¥0.4400 ¥0.8700 ¥1.32 70
DDM Multi-Stage ¥0.4400 ¥0.7500 ¥0.9200 61
Multiples
P/E Multiple ¥5.32 ¥7.10 ¥8.87 63
P/S Multiple ¥4.11 ¥5.48 ¥6.86 58
P/B Multiple ¥4.11 ¥5.48 ¥6.86 55
EV/EBIT ¥11.10 ¥14.53 ¥17.96 53
EV/EBITDA ¥10.99 ¥14.38 ¥17.78 54
EV/Revenue ¥5.68 ¥7.76 ¥9.84 43
Asset-Based
NCAV (Graham) ¥2.39 ¥3.20 ¥4.78 50
Growth DCF
Growth DCF ¥5.16 ¥8.55 ¥14.19 80
Rev-Margin DCF ¥5.54 ¥9.42 ¥14.64 74
Economic Profit
Residual Income ¥3.77 ¥3.91 ¥4.05 76
ROIC Compounder ¥7.93 ¥10.53 ¥13.99 72
Growth Earnings
Growth-Adj P/E ¥4.81 ¥6.87 ¥8.93 68

Widest divergence: DCF Models (¥9.57) versus Dividend Discount (¥0.7500). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.0B CNY
Revenue growth (YoY) +36.0%
Net margin 7.0%
Return on equity 9.1%
Free cash flow 57.0M CNY FY2025
P/E ratio 30.0
More key figures
Operating margin 17.4%
EPS (TTM) ¥0.4500
EPS growth (YoY) +136%
Net debt 12.7M CNY FY2025

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 38

Profitability 49
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 34
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 Sanfo Outdoor Products Co., Ltd engages in the retail of outdoor sporting goods in China. It is also involved in organizing events and camp training activities. The company sells its products through online and offline retail channels. The company was founded in 1997 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing Sanfo Outdoor Products Co reported revenue of ¥956M in FY2025 versus ¥556M in FY2021, a compound +14.5%/yr. Reported net income was ¥53.4M in FY2025.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
956M CNY
Latest YoY
+19.4%
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.
+19.3%
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.
+15.4%
Avg. 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.
+11.2%
Revenue +14.5%/yr
FY21 ¥556M
FY22 ¥562M
FY23 ¥846M
FY24 ¥800M
FY25 ¥956M
Net income
FY21 −¥26.2M
FY22 −¥32.9M
FY23 ¥36.5M
FY24 −¥21.5M
FY25 ¥53.4M

002780 screens 48% overvalued. Compare with Casey's General Stores, Inc →

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Cite: Fair Value Calculator (2026). "Beijing Sanfo Outdoor Products Co Fair Value". https://www.fairvalue-calculator.com/stock/002780

Peer Group

Specialty Retail · 221 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 61 · Above median
Fair Value upside −48% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 8% · Top 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 36% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 30.0× · Pricier than 75% of peers
P/B 2.82× · Pricier than median
P/S (TTM) 2.17× · Pricier than 75% of peers
P/FCF 5.8× · Pricier than median
EV/EBITDA 12.9× · 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 29
FUTURE 100 · sector 23
PAST 37 · sector 27
HEALTH 100 · sector 94
DIVIDEND 0 · sector 51

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

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Beijing Sanfo Outdoor Products Co (002780) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥7.10 versus a price of ¥13.59, about −48% (overvalued).
What is the fair value of 002780?
Our model-based fair value for Beijing Sanfo Outdoor Products Co is ¥7.10 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥13.59.
What is the quality score of 002780?
Beijing Sanfo Outdoor Products Co has a Quality Score of 61/100. 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 Sanfo Outdoor Products Co (002780)?
Beijing Sanfo Outdoor Products Co reported trailing-twelve-month revenue of about 1.0B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002780?
The net profit margin of Beijing Sanfo Outdoor Products Co is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.

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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