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Tianjin Guifaxiang 18th Street Mahua Food Co (002820) Fair Value & Analysis

Consumer Defensive · CN · Market cap 1.8B CNY

TG Tianjin Guifaxiang 18th Street Mahua Food Co 002820 · SHE
Price¥9.41
Fair Value¥2.18
Upside-76.8%
Quality51/100
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Mixed Growth
Loss-making · -5.1% net margin
Low debt · generates free cash flow
Trails peers (3/11)
Narrow moat 22/100
Evidence: Medium Range ¥1.92 – ¥2.44 Share as image

Fair value as of: Jul 22, 2026

From 12 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from ¥2.77 to ¥2.18 (−21.3%) since Jun 25, 2026. Share price +8.8% over the past month.

A solid business, but screening 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.44). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥20.86 ¥6.65 Fair Value ¥2.18 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 ¥6.65 – ¥20.86 · fair‑value band ¥1.92 – ¥2.44 · the ¥9.41 price screens above the ¥2.18 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

Tianjin Guifaxiang 18th Street Mahua Food Co (002820) currently trades at ¥9.41, while our model-based Fair Value estimate is ¥2.18, implying the stock looks roughly 76.8% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Consumer Defensive 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, Tianjin Guifaxiang 18th Street Mahua Food Co generated revenue of 472M CNY at a net margin of -5.1%. Revenue grew 0.7% year over year. It earns a return on equity of -2.7%. The balance sheet holds a net cash position of 226M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥1.92 (bear case) to ¥2.44 (bull case); at ¥9.41, 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 46% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -77%, 002820 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 ¥3.04 ¥3.34 ¥3.74 80
Rev-Margin DCF ¥3.00 ¥3.50 ¥4.06 74
Gordon GGM ¥1.13 ¥1.52 ¥1.86 70
All 12 models by family
DCF Models
FCF DCF ¥3.01 ¥3.34 ¥3.78 38
5Y Revenue Exit ¥3.00 ¥3.48 ¥4.10 39
5Y EBITDA Exit ¥2.78 ¥3.10 ¥3.47 41
10Y Revenue Exit ¥2.97 ¥3.37 ¥3.84 36
10Y EBITDA Exit ¥2.87 ¥3.14 ¥3.44 37
Dividend Discount
Gordon GGM ¥1.13 ¥1.52 ¥1.86 70
DDM Multi-Stage ¥1.13 ¥1.50 ¥1.88 61
Multiples
EV/EBITDA ¥2.72 ¥2.98 ¥3.24 54
EV/Revenue ¥3.07 ¥3.57 ¥4.06 43
Asset-Based
NCAV (Graham) ¥2.16 ¥2.89 ¥4.31 50
Growth DCF
Growth DCF ¥3.04 ¥3.34 ¥3.74 80
Rev-Margin DCF ¥3.00 ¥3.50 ¥4.06 74

Widest divergence: DCF Models (¥3.34) versus Dividend Discount (¥1.50). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 472M CNY
Revenue growth (YoY) +0.7%
Net margin -5.1%
Return on equity -2.7%
Free cash flow 25.4M CNY FY2025
Operating margin 4.9%
More key figures
EPS (TTM) ¥-0.1200
EPS growth (YoY) +33.3%
Net cash 226M CNY FY2024

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 52 · Market factors (momentum, volatility) 29

Profitability 17
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 62
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

Tianjin Guifaxiang 18th Street Mahua Food Co.,Ltd. engages in the research and development, production, and sale of traditional specialty and other snack food in China.

Full company description

Tianjin Guifaxiang 18th Street Mahua Food Co.,Ltd. engages in the research and development, production, and sale of traditional specialty and other snack food in China. It offers traditional snack food and other snack food, such as cakes, Tianjin-style instant food, and sweet chestnuts, as well as 18th street fried dough twists, pastries, seasonal food, and other leisure food. The company sells its products through general distributors, supermarkets, specialty and food stores in commercial tourist areas, convenience stores, and online distribution channels. Tianjin Guifaxiang 18th Street Mahua Food Co.,Ltd. was founded in 1994 and is headquartered in Tianjin, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tianjin Guifaxiang 18th Street Mahua Food Co reported revenue of ¥471M in FY2025 versus ¥405M in FY2021, a compound +3.8%/yr. Reported net income was −¥24.5M in FY2025.

Growth Quality 38/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
471M CNY
Latest YoY
−4.9%
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.
+25.9%
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.
+6.2%
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.
+2.2%
Revenue +3.8%/yr
FY21 ¥405M
FY22 ¥236M
FY23 ¥504M
FY24 ¥496M
FY25 ¥471M
Net income
FY21 ¥21.3M
FY22 −¥69.7M
FY23 ¥61.0M
FY24 ¥27.1M
FY25 −¥24.5M
Character of growth · EPS growth decomposed (2013-2024) −9.5 % p.a.
Revenue per share −1.8 pp

of which total revenue +0.9 pp · buybacks/dilution −2.7 pp

EBIT margin −9.9 pp
Tax rate +2.0 pp
Residual (interest, one-offs) +0.1 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).

002820 screens 77% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Tianjin Guifaxiang 18th Street Mahua Food Co Fair Value". https://www.fairvalue-calculator.com/stock/002820

Peer Group

Packaged Foods · 649 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 51 · Below median
Fair Value upside −77% · Bottom 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -5% · Bottom 25%
Operating margin (TTM) 5% · Below median
Revenue growth 1% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/B 0.31× · Cheaper than 75% of peers
P/S (TTM) 0.58× · Cheaper than median
P/FCF 10.7× · 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 28
FUTURE 4 · sector 20
PAST 0 · sector 27
HEALTH 100 · sector 96
DIVIDEND 0 · sector 47

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Tianjin Guifaxiang 18th Street Mahua Food Co (002820) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥2.18 versus a price of ¥9.41, about −77% (overvalued).
What is the fair value of 002820?
Our model-based fair value for Tianjin Guifaxiang 18th Street Mahua Food Co is ¥2.18 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥9.41.
What is the quality score of 002820?
Tianjin Guifaxiang 18th Street Mahua Food Co has a Quality Score of 51/100. 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 Tianjin Guifaxiang 18th Street Mahua Food Co (002820)?
Tianjin Guifaxiang 18th Street Mahua Food Co reported trailing-twelve-month revenue of about 472M CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002820?
The net profit margin of Tianjin Guifaxiang 18th Street Mahua Food Co is about -5.1%, meaning it is currently running at a net loss. 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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