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Shenzhen Capchem Technology Co (300037) Fair Value & Analysis

Basic Materials · CN · Market cap 54.7B CNY

SC Shenzhen Capchem Technology Co 300037 · SHE
Price¥66.80
Fair Value¥19.18
Upside-71.3%
Quality62/100
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Expensive Growth
Solidly profitable · 12.3% net margin
Low debt · generates free cash flow
0.62% dividend yield
Mixed vs. peers (6/14)
Moderate moat 53/100
Evidence: Medium Range ¥14.38 – ¥31.00 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 28 days ago

Share price −13.7% over the past month.

A solid business, but screening 71% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥31.00). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥14.38 to ¥31.00) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥93.55 ¥26.93 Fair Value ¥19.18 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥26.93 – ¥93.55 · fair‑value band ¥14.38 – ¥31.00 · the ¥66.80 price screens above the ¥19.18 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Shenzhen Capchem Technology Co (300037) currently trades at ¥66.80, while our model-based Fair Value estimate is ¥19.18, implying the stock looks roughly 71.3% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Basic Materials 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, Shenzhen Capchem Technology Co generated revenue of 11.0B CNY at a net margin of 12.3%. Revenue grew 67.9% year over year. It earns a return on equity of 12.3%. Net debt stands at 3.8B CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥14.38 (bear case) to ¥31.00 (bull case); at ¥66.80, 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 17% below its 52-week high and 112% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -71%, 300037 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥3.23 ¥7.03 ¥14.71 80
Residual Income ¥12.62 ¥14.10 ¥23.92 76
Rev-Margin DCF ¥10.89 ¥25.64 ¥52.18 74
All 26 models by family
DCF Models
FCF DCF ¥3.51 ¥6.21 ¥14.78 38
Owner Earnings ¥12.26 ¥29.42 ¥65.42 31
5Y Revenue Exit ¥10.89 ¥22.30 ¥46.23 39
5Y EBITDA Exit ¥13.63 ¥27.88 ¥55.74 41
5Y P/E Exit ¥14.03 ¥36.10 ¥66.61 38
10Y Revenue Exit ¥8.35 ¥25.13 ¥38.31 36
10Y EBITDA Exit ¥10.94 ¥30.96 ¥69.04 37
10Y P/E Exit ¥11.23 ¥31.81 ¥68.47 35
Earnings-Based
Graham-Dodd ¥9.90 ¥69.07 ¥96.93 54
Lynch FV ¥25.01 ¥35.73 ¥46.45 50
PEG = 1.0 ¥25.01 ¥35.73 ¥46.45 46
EPV ¥13.10 ¥15.48 ¥17.56 59
Dividend Discount
Gordon GGM ¥3.63 ¥7.55 ¥11.98 70
DDM Multi-Stage ¥3.63 ¥6.37 ¥7.92 61
Multiples
P/E Multiple ¥18.57 ¥24.76 ¥30.95 63
P/S Multiple ¥14.38 ¥19.18 ¥23.97 58
P/B Multiple ¥18.57 ¥24.76 ¥30.95 55
EV/EBIT ¥16.83 ¥22.83 ¥28.84 53
EV/EBITDA ¥16.86 ¥22.87 ¥28.88 54
EV/Revenue ¥12.25 ¥18.00 ¥23.75 43
Asset-Based
NCAV (Graham) ¥7.15 ¥9.58 ¥14.30 50
Growth DCF
Growth DCF ¥3.23 ¥7.03 ¥14.71 80
Rev-Margin DCF ¥10.89 ¥25.64 ¥52.18 74
Economic Profit
Residual Income ¥12.62 ¥14.10 ¥23.92 76
ROIC Compounder ¥13.10 ¥17.21 ¥22.78 72
Growth Earnings
Growth-Adj P/E ¥29.84 ¥42.63 ¥55.42 68

Widest divergence: Growth Earnings (¥42.63) versus Dividend Discount (¥6.37). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 11.0B CNY
Revenue growth (YoY) +67.9%
Net margin 12.3%
Return on equity 12.3%
Free cash flow 210M CNY FY2025
P/E ratio 41.5
More key figures
Operating margin 14.0%
EPS (TTM) ¥1.75
Dividend yield 0.6%
EPS growth (YoY) +107%
Net debt 3.8B CNY FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 60 · Market factors (momentum, volatility) 67

Profitability 52
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 28
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 92
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

Shenzhen Capchem Technology Co., Ltd., together with its subsidiaries, engages in the research, development, production, sale, and service of new electronic chemicals and functional materials in China and internationally. It operates through three segments: Battery Chemicals, Organofluorine Chemicals, and Electronic Information Chemicals.

Full company description

Shenzhen Capchem Technology Co., Ltd., together with its subsidiaries, engages in the research, development, production, sale, and service of new electronic chemicals and functional materials in China and internationally. It operates through three segments: Battery Chemicals, Organofluorine Chemicals, and Electronic Information Chemicals. The company offers battery chemicals, such as electrolytes for secondary lithium-ion batteries; electrolytes for primary lithium batteries; electrolytes for electric double-layer capacitors; emerging electrolytes and auxiliary materials; lithium salts, solvents, and additives. It also provides capacitor chemicals, including aluminum foil chemicals; liquid capacitive chemicals and electrolytes; chemicals for solid-state capacitors; chemicals for MLPC and tantalum capacitor; and capacitor sealing materials. In addition, the company offers semiconductor chemicals comprising etchants, strippers, high purity reagents, cleaners, coolant, and fluorinated functional materials. Further, it provides organic fluorine chemicals consisting of fluorinated pharmaceutical and pesticide intermediates; fluororubber vulcanizing agents; fluoropolymer modified comonomers; fluorinated surfactants; fluorinated gases for electrical insulation; and other special chemicals. The company's products are used in new energy vehicles, digital products, energy storage, household appliances, wind power generation, high-speed rail, chip, display and solar panels, medicine, pesticides, and coatings. It also exports its products. The company was formerly known as Shenzhen Capchem Chemicals Co., Ltd. and changed its name to Shenzhen Capchem Technology Co., Ltd. in 2008. Shenzhen Capchem Technology Co., Ltd. was founded in 1996 and is headquartered in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenzhen Capchem Technology Co reported revenue of ¥9.6B in FY2025 versus ¥7.0B in FY2021, a compound +8.5%/yr. Reported net income was ¥1.1B in FY2025, compounding −4.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
9.6B CNY
Latest YoY
+22.8%
Avg. growth/yr (3Y)
−0.1%
Avg. growth/yr (5Y)
+26.6%
Avg. growth/yr (19Y)
+25.1%
Revenue +8.5%/yr
FY21 ¥7.0B
FY22 ¥9.7B
FY23 ¥7.5B
FY24 ¥7.8B
FY25 ¥9.6B
Net income −4.3%/yr
FY21 ¥1.3B
FY22 ¥1.8B
FY23 ¥1.0B
FY24 ¥942M
FY25 ¥1.1B

300037 screens 71% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Shenzhen Capchem Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/300037

Peer Group

Specialty Chemicals · 676 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 62 · Top 25%
Fair Value upside −71% · Bottom 25%
Return on equity (TTM) 12% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 68% · Top 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 41.5× · Pricier than median
P/B 5.08× · Pricier than 75% of peers
P/S (TTM) 4.98× · Pricier than 75% of peers
P/FCF 38.6× · Pricier than 75% of peers
EV/EBITDA 29.6× · 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 0
FUTURE 100 · sector 19
PAST 49 · sector 23
HEALTH 91 · sector 95
DIVIDEND 12 · sector 25

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

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Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
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PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Shenzhen Capchem Technology Co (300037) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥19.18 versus a price of ¥66.80, about −71% (overvalued).
What is the fair value of 300037?
Our model-based fair value for Shenzhen Capchem Technology Co is ¥19.18 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥66.80.
What is the quality score of 300037?
Shenzhen Capchem Technology Co has a Quality Score of 62/100. 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 Shenzhen Capchem Technology Co (300037)?
Shenzhen Capchem Technology Co reported trailing-twelve-month revenue of about 11.0B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 300037?
The net profit margin of Shenzhen Capchem Technology Co is about 12.3%, meaning it keeps roughly 12.3% of revenue as net income. Based on the latest reported figures.
Does Shenzhen Capchem Technology Co pay a dividend?
Shenzhen Capchem Technology Co currently shows a dividend yield of about 0.64% relative to its recent price (as of Jul 12, 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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