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Chongqing Machinery & Electric Co Ltd (2722) Fair Value & Analysis

Industrials · HK · Market cap HK$7.4B

CM Chongqing Machinery & Electric Co Ltd 2722 · HK
PriceHK$2.05
Fair ValueHK$4.02
Upside+96.1%
Quality58/100
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Healthy Growth
Thin margins · 7.6% net margin
Low debt · generates free cash flow
3.22% dividend yield
Ranks above peers (11/14)
Narrow moat 35/100
Evidence: High Range HK$2.80 – HK$5.19 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$4.12 to HK$4.02 (−2.4%) since Jul 7, 2026. Share price +13.3% over the past month.

A solid business, screening 96% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$2.80). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$2.80 to HK$5.19) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$3.60 HK$0.3806 Fair Value HK$4.02 Mar 2021 Aug 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 HK$0.3806 – HK$3.60 · fair‑value band HK$2.80 – HK$5.19 · the HK$2.05 price screens below the HK$4.02 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Chongqing Machinery & Electric Co Ltd (2722) currently trades at HK$2.05, while our model-based Fair Value estimate is HK$4.02, implying the stock looks roughly 96.1% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Chongqing Machinery & Electric Co Ltd generated revenue of HK$10.0B at a net margin of 7.6%. Revenue grew 14.3% year over year. It earns a return on equity of 8.8%. Net debt stands at HK$3.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$2.80 (bear case) to HK$5.19 (bull case); at HK$2.05, the current price sits below 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 45% below its 52-week high and 93% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -67% fair-value upside, at 96%, 2722 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
Growth DCF HK$2.94 HK$3.95 HK$5.32 80
Residual Income HK$2.02 HK$2.18 HK$2.61 76
Rev-Margin DCF HK$2.69 HK$3.83 HK$5.14 74
All 26 models by family
DCF Models
FCF DCF HK$2.90 HK$4.04 HK$5.69 38
Owner Earnings HK$3.32 HK$4.67 HK$6.63 31
5Y Revenue Exit HK$2.69 HK$3.82 HK$5.25 39
5Y EBITDA Exit HK$3.24 HK$4.85 HK$6.71 41
5Y P/E Exit HK$3.34 HK$5.02 HK$6.78 38
10Y Revenue Exit HK$2.69 HK$3.72 HK$5.08 36
10Y EBITDA Exit HK$3.09 HK$4.42 HK$6.16 37
10Y P/E Exit HK$3.15 HK$4.54 HK$6.21 35
Earnings-Based
Graham-Dodd HK$1.43 HK$4.27 HK$5.66 54
Lynch FV HK$0.9000 HK$1.29 HK$1.68 50
PEG = 1.0 HK$0.9000 HK$1.29 HK$1.68 46
EPV HK$2.47 HK$2.75 HK$3.00 59
Dividend Discount
Gordon GGM HK$0.4300 HK$0.8700 HK$1.31 70
DDM Multi-Stage HK$0.4300 HK$0.6900 HK$0.9100 61
Multiples
P/E Multiple HK$3.31 HK$4.41 HK$5.51 63
P/S Multiple HK$2.68 HK$3.57 HK$4.46 58
P/B Multiple HK$2.68 HK$3.57 HK$4.46 55
EV/EBIT HK$3.48 HK$4.42 HK$5.36 53
EV/EBITDA HK$3.80 HK$4.84 HK$5.89 54
EV/Revenue HK$2.67 HK$3.53 HK$4.40 43
Asset-Based
NCAV (Graham) HK$1.21 HK$1.62 HK$2.42 50
Growth DCF
Growth DCF HK$2.94 HK$3.95 HK$5.32 80
Rev-Margin DCF HK$2.69 HK$3.83 HK$5.14 74
Economic Profit
Residual Income HK$2.02 HK$2.18 HK$2.61 76
ROIC Compounder HK$2.48 HK$2.91 HK$3.44 72
Growth Earnings
Growth-Adj P/E HK$2.70 HK$3.85 HK$5.01 68

Widest divergence: DCF Models (HK$4.42) versus Dividend Discount (HK$0.6900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$10.0B
Revenue growth (YoY) +14.3%
Net margin 7.6%
Return on equity 8.8%
Free cash flow HK$765M FY2025
P/E ratio 8.4 as of Jul 2, 2026
More key figures
Operating margin -0.4%
EPS (TTM) HK$0.1100
Dividend yield 3.2%
EPS growth (YoY) +106%
Net debt HK$3.1B FY2025

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 37

Profitability 32
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 20
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 63
Distance to the 52-week high (market factor)
Net Issuance 84
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

Chongqing Machinery & Electric Co., Ltd., together with its subsidiaries, designs, manufactures, and sells clean energy equipment and high-end smart manufacturing equipment.

Full company description

Chongqing Machinery & Electric Co., Ltd., together with its subsidiaries, designs, manufactures, and sells clean energy equipment and high-end smart manufacturing equipment. It operates through nine segments: Engine, General Machinery, Wind Turbine Blade, Wire and Cable, Intelligent Manufacturing, CNC machine tools, High voltage transformer, Material Sales, Financial services, and Other segments. The company also produces and sells engine products, mechanical products, wind turbine blades, wire and cable, automation, intelligent equipment and accessories, cutting tool, screw and various complex parts, and machine tools. In addition, the company provides loans and financing sevices; offers electric porcelain; research, develops, manufactures, and sells vehicle parts and components, gear processing machine tools and lathes; designs, manufactures, and sells industrial robots, intelligent equipment, etc.; processes electronic products; and trades in machinery and raw materials. Further, it is involved in mechanized picking services for cotton; maintenance and sale of cotton machinery and spare parts; design, manufacturing, and marketing of precision screw; leasing of properties; production of fan coolers; turbo mechanical product testing, equipment and system maintenance and transformation; sale of network, environmental, and gas products; and manufacture of wind-power equipment. Additionally, the company engages in the production and supply of electricity and supply; design and manufacture of industrial pumps and parts, and pressure vessels; gas compressors and components; consultation on research and development of mechanical and electrical equipment technology; and petroleum, natural gas, and other fuel processing. The company was incorporated in 2007 and is headquartered in Chongqing, the People's Republic of China. Chongqing Machinery & Electric Co., Ltd. is a subsidiary of Chongqing Machinery and Electronics Holding (Group) Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chongqing Machinery & Electric Co Ltd reported revenue of HK$10.0B in FY2025 versus HK$7.4B in FY2021, a compound +7.9%/yr. Reported net income was HK$764M in FY2025, compounding +26.7%/yr from FY2021.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$10.0B
Latest YoY
+12.6%
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.
+11.7%
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.
+9.5%
Avg. growth/yr (20Y) 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.
+6.1%
Revenue +7.9%/yr
FY21 HK$7.4B
FY22 HK$7.2B
FY23 HK$8.1B
FY24 HK$8.9B
FY25 HK$10.0B
Net income +26.7%/yr
FY21 HK$297M
FY22 HK$310M
FY23 HK$304M
FY24 HK$431M
FY25 HK$764M
Character of growth · EPS growth decomposed (2014-2025) +1.0 % p.a.
Revenue per share −0.2 pp

of which total revenue −0.2 pp · buybacks/dilution +0.0 pp

EBIT margin +6.6 pp
Tax rate +0.2 pp
Residual (interest, one-offs) −5.6 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).

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Cite: Fair Value Calculator (2026). "Chongqing Machinery & Electric Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2722

Peer Group

Specialty Industrial Machinery · 808 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 58 · Above median
Fair Value upside +96% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 0% · Bottom 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) -0% · Bottom 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 3.2% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 8.4× · Cheaper than 75% of peers
P/B 0.84× · Cheaper than 75% of peers
P/S (TTM) 0.74× · Cheaper than median
P/FCF 1.2× · Cheaper than median
EV/EBITDA 16.1× · 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 100 · sector 0
FUTURE 72 · sector 22
PAST 35 · sector 28
HEALTH 98 · sector 96
DIVIDEND 64 · sector 27

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 Chongqing Machinery & Electric Co Ltd (2722) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$4.02 versus a price of HK$2.05, about +96% (undervalued).
What is the fair value of 2722?
Our model-based fair value for Chongqing Machinery & Electric Co Ltd is HK$4.02 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.05.
What is the quality score of 2722?
Chongqing Machinery & Electric Co Ltd has a Quality Score of 58/100. 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 Chongqing Machinery & Electric Co Ltd (2722)?
Chongqing Machinery & Electric Co Ltd reported trailing-twelve-month revenue of about HK$10.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2722?
The net profit margin of Chongqing Machinery & Electric Co Ltd is about 7.6%, meaning it keeps roughly 7.6% of revenue as net income. Based on the latest reported figures.
Does Chongqing Machinery & Electric Co Ltd pay a dividend?
Chongqing Machinery & Electric Co Ltd currently shows a dividend yield of about 3.22% relative to its recent price (as of Aug 13, 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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