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Xuchang KETOP Testing Research Institute Co (003008) Fair Value & Analysis

Industrials · CN · Market cap 1.9B CNY

XK Xuchang KETOP Testing Research Institute Co 003008 · SHE
Price¥19.05
Fair Value¥17.81
Upside-6.5%
Quality72/100
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Healthy Growth
Highly profitable · 35.4% net margin
generates free cash flow
5.41% dividend yield
Mixed vs. peers (7/13)
Moderate moat 62/100
Evidence: High Range ¥11.98 – ¥22.26 Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Share price +8.8% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (¥11.98 to ¥22.26) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥26.33 ¥10.33 Fair Value ¥17.81 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 ¥10.33 – ¥26.33 · fair‑value band ¥11.98 – ¥22.26 · the ¥19.05 price screens above the ¥17.81 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

Xuchang KETOP Testing Research Institute Co (003008) currently trades at ¥19.05, while our model-based Fair Value estimate is ¥17.81, implying the stock looks roughly 6.5% fairly valued today. The Quality Score stands at 72/100 (solid quality), in the Industrials 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, Xuchang KETOP Testing Research Institute Co generated revenue of 223M CNY at a net margin of 35.4%. Revenue declined 19.7% year over year. It earns a return on equity of 7.3%. The balance sheet holds a net cash position of 93.4M CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥11.98 (bear case) to ¥22.26 (bull case); at ¥19.05, the current price sits within 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 22% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at -7%, 003008 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
Residual Income ¥8.17 ¥8.68 ¥9.24 76
Growth DCF ¥10.09 ¥13.57 ¥17.97 72
Gordon GGM ¥8.93 ¥16.10 ¥22.16 70
All 26 models by family
DCF Models
FCF DCF ¥10.06 ¥14.11 ¥19.60 38
Owner Earnings ¥11.97 ¥16.92 ¥23.63 31
5Y Revenue Exit ¥6.49 ¥8.36 ¥10.61 39
5Y EBITDA Exit ¥12.94 ¥20.55 ¥29.49 41
5Y P/E Exit ¥12.03 ¥18.82 ¥26.01 38
10Y Revenue Exit ¥7.79 ¥9.77 ¥12.24 36
10Y EBITDA Exit ¥11.64 ¥17.55 ¥25.54 37
10Y P/E Exit ¥11.11 ¥16.45 ¥23.10 35
Earnings-Based
Graham-Dodd ¥5.77 ¥19.02 ¥25.44 54
Lynch FV ¥4.29 ¥6.12 ¥7.96 50
PEG = 1.0 ¥4.29 ¥6.12 ¥7.96 46
EPV ¥8.25 ¥9.17 ¥9.94 59
Dividend Discount
Gordon GGM ¥8.93 ¥16.10 ¥22.16 70
DDM Multi-Stage ¥8.93 ¥14.26 ¥17.20 61
Multiples
P/E Multiple ¥13.36 ¥17.81 ¥22.26 63
P/S Multiple ¥3.36 ¥4.48 ¥5.59 58
P/B Multiple ¥10.81 ¥14.42 ¥18.02 55
EV/EBIT ¥14.46 ¥18.79 ¥23.12 53
EV/EBITDA ¥16.52 ¥21.54 ¥26.56 54
EV/Revenue ¥4.29 ¥5.49 ¥6.70 43
Asset-Based
NCAV (Graham) ¥5.10 ¥6.84 ¥10.21 50
Growth DCF
Growth DCF ¥10.09 ¥13.57 ¥17.97 72
Rev-Margin DCF ¥6.49 ¥8.49 ¥10.87 67
Economic Profit
Residual Income ¥8.17 ¥8.68 ¥9.24 76
ROIC Compounder ¥8.25 ¥9.17 ¥9.94 67
Growth Earnings
Growth-Adj P/E ¥11.27 ¥16.10 ¥20.93 68

Widest divergence: DCF Models (¥16.45) versus Earnings-Based (¥6.12). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 223M CNY
Revenue growth (YoY) -19.7%
Net margin 35.4%
Return on equity 7.3%
Free cash flow 93.8M CNY FY2025
P/E ratio 24.2
More key figures
Operating margin 18.4%
EPS (TTM) ¥0.7600
Dividend yield 5.4%
EPS growth (YoY) -56.3%
Net cash 93.4M CNY FY2024

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

Quality Score breakdown

Overall quality 72/100

Of which business quality 71 · Market factors (momentum, volatility) 39

Profitability 45
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 20
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

Xuchang KETOP Testing Research Institute Co.,Ltd operates as a third-party testing company in China. It provides testing services for protection and control equipment, charging and swapping equipment, AC/DC power supply equipment testing, new energy photovoltaic energy storage converter transformer equipment, distribution network terminal equipment, …

Full company description

Xuchang KETOP Testing Research Institute Co.,Ltd operates as a third-party testing company in China. It provides testing services for protection and control equipment, charging and swapping equipment, AC/DC power supply equipment testing, new energy photovoltaic energy storage converter transformer equipment, distribution network terminal equipment, electromagnetic compatibility, environmental and reliability testing, plant simulation modeling testing, software and cybersecurity testing, on-site acceptance testing, testing of monitoring system equipment, online monitoring equipment testing, other types of equipment testing, medical electrical equipment testing, automotive electronic equipment testing, remote sensing equipment testing, intelligent transportation equipment testing, and testing of household appliances. The company was founded in 2005 and is based in Xuchang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Xuchang KETOP Testing Research Institute Co reported revenue of ¥233M in FY2025 versus ¥144M in FY2021, a compound +12.8%/yr. Reported net income was ¥88.2M in FY2025, compounding +8.2%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
233M CNY
Latest YoY
+5.1%
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.
+14.3%
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.
+7.1%
Avg. growth/yr (9Y) 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.
+6.4%
Revenue +12.8%/yr
FY21 ¥144M
FY22 ¥156M
FY23 ¥191M
FY24 ¥221M
FY25 ¥233M
Net income +8.2%/yr
FY21 ¥64.3M
FY22 ¥69.0M
FY23 ¥58.8M
FY24 ¥85.6M
FY25 ¥88.2M

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Cite: Fair Value Calculator (2026). "Xuchang KETOP Testing Research Institute Co Fair Value". https://www.fairvalue-calculator.com/stock/003008

Peer Group

Specialty Business Services · 253 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 72 · Top 25%
Fair Value upside −7% · Above median
Return on equity (TTM) 7% · Below median
Return on assets 5% · Above median
Net margin (TTM) 35% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth -20% · Bottom 25%
Dividend yield (TTM) 5.4% · Top 25%

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 24.2× · Pricier than median
P/B 1.80× · Pricier than median
P/S (TTM) 8.58× · Pricier than 75% of peers
P/FCF 3.0× · Cheaper than median
EV/EBITDA 12.9× · Pricier 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 25 · sector 24
FUTURE 0 · sector 27
PAST 29 · sector 33
HEALTH 0 · sector 92
DIVIDEND 100 · sector 54

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.

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Frequently asked questions

Is Xuchang KETOP Testing Research Institute Co (003008) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥17.81 versus a price of ¥19.05, about −7% (fairly valued).
What is the fair value of 003008?
Our model-based fair value for Xuchang KETOP Testing Research Institute Co is ¥17.81 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥19.05.
What is the quality score of 003008?
Xuchang KETOP Testing Research Institute Co has a Quality Score of 72/100. 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 Xuchang KETOP Testing Research Institute Co (003008)?
Xuchang KETOP Testing Research Institute Co reported trailing-twelve-month revenue of about 223M CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 003008?
The net profit margin of Xuchang KETOP Testing Research Institute Co is about 35.4%, meaning it keeps roughly 35.4% of revenue as net income. Based on the latest reported figures.
Does Xuchang KETOP Testing Research Institute Co pay a dividend?
Xuchang KETOP Testing Research Institute Co currently shows a dividend yield of about 5.41% relative to its recent price (as of Jul 22, 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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