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Lanzhou Zhuangyuan Pasture Co (002910) Fair Value & Analysis

Consumer Defensive · CN · Market cap 2.2B CNY

LZ Lanzhou Zhuangyuan Pasture Co 002910 · SHE
Price¥9.48
Fair Value¥4.40
Upside-53.6%
Quality43/100
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Mixed Growth
Loss-making · -8.4% net margin
Low debt · generates free cash flow
Trails peers (4/12)
Narrow moat 3/100
Evidence: High Range ¥3.06 – ¥6.36 Share as image

Fair value as of: Jul 22, 2026

From 15 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from ¥2.20 to ¥4.40 (+100.0%) since Jun 25, 2026. Share price −10.9% over the past month.

Below-average quality, and screening another 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥6.36). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥3.06 to ¥6.36) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥16.31 ¥5.72 Fair Value ¥4.40 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 ¥5.72 – ¥16.31 · fair‑value band ¥3.06 – ¥6.36 · the ¥9.48 price screens above the ¥4.40 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

Lanzhou Zhuangyuan Pasture Co (002910) currently trades at ¥9.48, while our model-based Fair Value estimate is ¥4.40, implying the stock looks roughly 53.6% overvalued today. The Quality Score stands at 43/100 (below-average 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: high).

Over the trailing twelve months, Lanzhou Zhuangyuan Pasture Co generated revenue of 956M CNY at a net margin of -8.4%. Revenue grew 16.7% year over year. It earns a return on equity of -7.8%. Net debt stands at 717M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥3.06 (bear case) to ¥6.36 (bull case); at ¥9.48, 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 41% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 102% fair-value upside, at -54%, 002910 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥0.9400 to ¥8.07). Read the values as a conservative anchor, not as a price target.
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 ¥1.44 ¥1.93 ¥2.58 80
Rev-Margin DCF ¥1.06 ¥1.48 ¥1.94 74
ROIC Compounder ¥0.8200 ¥0.9400 ¥1.03 72
All 15 models by family
DCF Models
FCF DCF ¥1.40 ¥1.94 ¥2.68 38
5Y Revenue Exit ¥1.06 ¥1.46 ¥1.95 39
5Y EBITDA Exit ¥3.85 ¥6.43 ¥9.33 41
10Y Revenue Exit ¥1.16 ¥1.54 ¥1.99 36
10Y EBITDA Exit ¥2.89 ¥4.82 ¥7.25 37
Earnings-Based
EPV ¥0.8200 ¥0.9400 ¥1.03 59
Dividend Discount
Gordon GGM ¥1.42 ¥2.36 ¥3.45 70
DDM Multi-Stage ¥1.42 ¥2.06 ¥2.75 61
Multiples
EV/EBIT ¥1.22 ¥1.59 ¥1.96 53
EV/EBITDA ¥6.08 ¥8.07 ¥10.06 54
EV/Revenue ¥0.9000 ¥1.24 ¥1.58 43
Asset-Based
NCAV (Graham) ¥2.61 ¥3.49 ¥5.21 50
Growth DCF
Growth DCF ¥1.44 ¥1.93 ¥2.58 80
Rev-Margin DCF ¥1.06 ¥1.48 ¥1.94 74
Economic Profit
ROIC Compounder ¥0.8200 ¥0.9400 ¥1.03 72

Widest divergence: Asset-Based (¥3.49) versus Earnings-Based (¥0.9400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 956M CNY
Revenue growth (YoY) +16.7%
Net margin -8.4%
Return on equity -7.8%
Free cash flow 24.9M CNY FY2025
Operating margin -5.6%
More key figures
EPS (TTM) ¥-0.4100
EPS growth (YoY) -88.9%
Net debt 717M CNY FY2025

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 43 · Market factors (momentum, volatility) 34

Profitability 9
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 28
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 85
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

Lanzhou Zhuangyuan Pasture Co., Ltd. manufactures, markets, and sells dairy products in China. It operates through two segments, Dairy Farming and Dairy Products Production. The company offers liquid milk products comprising pasteurized milk, sterilized milk, formulated milk, fermented milk, and other dairy products; raw milk; and milk drink products.

Full company description

Lanzhou Zhuangyuan Pasture Co., Ltd. manufactures, markets, and sells dairy products in China. It operates through two segments, Dairy Farming and Dairy Products Production. The company offers liquid milk products comprising pasteurized milk, sterilized milk, formulated milk, fermented milk, and other dairy products; raw milk; and milk drink products. It markets its products to hypermarkets, supermarkets, and local schools through distributors and direct sale. The company was incorporated in 2000 and is headquartered in Lanzhou, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lanzhou Zhuangyuan Pasture Co reported revenue of ¥921M in FY2025 versus ¥1.0B in FY2021, a compound −2.6%/yr. Reported net income was −¥74.4M in FY2025.

Growth Quality 40/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
921M CNY
Latest YoY
+3.4%
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.
−4.3%
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.
+4.5%
Avg. growth/yr (13Y) 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%
Revenue −2.6%/yr
FY21 ¥1.0B
FY22 ¥1.0B
FY23 ¥956M
FY24 ¥890M
FY25 ¥921M
Net income
FY21 ¥53.5M
FY22 ¥60.9M
FY23 −¥81.5M
FY24 −¥166M
FY25 −¥74.4M

002910 screens 54% overvalued. Compare with Muyuan Foods Group →

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Cite: Fair Value Calculator (2026). "Lanzhou Zhuangyuan Pasture Co Fair Value". https://www.fairvalue-calculator.com/stock/002910

Peer Group

Farm Products · 288 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 43 · Below median
Fair Value upside −54% · Bottom 25%
Return on assets 0% · Below median
Net margin (TTM) -8% · Bottom 25%
Operating margin (TTM) -6% · Bottom 25%
Revenue growth 17% · Above median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Farm Products median · lower = cheaper

P/B 0.32× · Cheaper than median
P/S (TTM) 0.34× · Cheaper than median
P/FCF 13.0× · Pricier than 75% of peers
EV/EBITDA 2.7× · Cheaper 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 25
FUTURE 84 · sector 20
PAST 0 · sector 17
HEALTH 91 · sector 94
DIVIDEND 0 · sector 38

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

Stock Price Fair Value vs Fair Value
Muyuan Foods Group 002714 ¥40.90 ¥48.19 +18%
Wens Foodstuff Group 300498 ¥14.51 ¥12.08 -17%
Mowi ASA MOWI kr 188.40 kr 262.59 +39%
PT Charoen Pokphand Indonesia Tbk, CPIN 3,120 IDR 7,076 IDR +127%
Charoen Pokphand Foods Public Company CPF 22.00 THB 55.71 THB +153%
PT Triputra Agro Persada Tbk TAPG 1,540 IDR 3,105 IDR +102%
PT FAP Agri Tbk FAPA 7,300 IDR 7,463 IDR +2%
PT Japfa Comfeed Indonesia Tbk JPFA 2,070 IDR 7,231 IDR +249%
Thaifoods Group TFGR 10.60 THB 23.53 THB +122%
PT Jhonlin Agro Raya Tbk JARR 1,845 IDR 610.80 IDR -67%

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Frequently asked questions

Is Lanzhou Zhuangyuan Pasture Co (002910) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥4.40 versus a price of ¥9.48, about −54% (overvalued).
What is the fair value of 002910?
Our model-based fair value for Lanzhou Zhuangyuan Pasture Co is ¥4.40 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥9.48.
What is the quality score of 002910?
Lanzhou Zhuangyuan Pasture Co has a Quality Score of 43/100. 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 Lanzhou Zhuangyuan Pasture Co (002910)?
Lanzhou Zhuangyuan Pasture Co reported trailing-twelve-month revenue of about 956M CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002910?
The net profit margin of Lanzhou Zhuangyuan Pasture Co is about -8.4%, 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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