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Jiangsu Skyray Instrument Co (300165) Fair Value & Analysis

Technology · CN · Market cap 2.8B CNY

JS Jiangsu Skyray Instrument Co 300165 · SHE
Price¥5.39
Fair Value¥0.9100
Upside-83.1%
Quality54/100
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Weak Growth
Loss-making · -35.7% net margin
Moderate debt · generates free cash flow
Trails peers (3/11)
Narrow moat 25/100
Evidence: High Range ¥0.8200 – ¥1.18 Share as image

Fair value as of: Jul 7, 2026

From 9 valuation models · updated 34 days ago

Fair value updated Jul 7, 2026, revised from ¥3.88 to ¥0.9100 (−76.5%) since Jun 24, 2026. Share price +5.9% over the past month.

A solid business, but screening 83% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.18). The favourable scenario is already priced in.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥11.01 ¥2.03 Fair Value ¥0.9100 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 7, 2026.

How to read this chart

60‑month range ¥2.03 – ¥11.01 · fair‑value band ¥0.8200 – ¥1.18 · the ¥5.39 price screens above the ¥0.9100 fair value. Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

Jiangsu Skyray Instrument Co (300165) currently trades at ¥5.39, while our model-based Fair Value estimate is ¥0.9100, implying the stock looks roughly 83.1% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Technology 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, Jiangsu Skyray Instrument Co generated revenue of 626M CNY at a net margin of -35.7%. Revenue grew 5.1% year over year. It earns a return on equity of -19.3%. Net debt stands at 1.0B CNY. Fundamentals as of Jul 7, 2026

Our scenario range runs from ¥0.8200 (bear case) to ¥1.18 (bull case); at ¥5.39, 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 58% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at -83%, 300165 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 ¥2.26 ¥3.76 ¥5.70 80
Rev-Margin DCF ¥0.1600 74
Gordon GGM ¥1.02 ¥1.61 ¥2.24 70
All 9 models by family
DCF Models
FCF DCF ¥2.15 ¥3.76 ¥5.94 38
5Y EBITDA Exit ¥0.3800 ¥0.7700 41
10Y Revenue Exit ¥0.6000 ¥0.8900 ¥1.16 36
10Y EBITDA Exit ¥0.8000 ¥1.27 ¥1.78 37
Dividend Discount
Gordon GGM ¥1.02 ¥1.61 ¥2.24 70
DDM Multi-Stage ¥1.02 ¥1.46 ¥1.94 61
Asset-Based
NCAV (Graham) ¥1.05 ¥1.41 ¥2.10 50
Growth DCF
Growth DCF ¥2.26 ¥3.76 ¥5.70 80
Rev-Margin DCF ¥0.1600 74

Widest divergence: Growth DCF (¥3.76) versus DCF Models (¥0.8900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 626M CNY
Revenue growth (YoY) +5.1%
Net margin -35.7%
Return on equity -19.3%
Free cash flow 199M CNY FY2025
Operating margin 5.8%
More key figures
EPS (TTM) ¥-0.4500
EPS growth (YoY) +297%
Net debt 1.0B CNY FY2025

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 54

Profitability 4
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 70
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

Jiangsu Skyray Instrument Co., Ltd. provides instruments in spectroscopy and chromatography fields. It also offers spectrometer comprising gold, alloy, mineral, soil, oil, and food analyzer; RoHS tester, and coating thickness measurement instruments.

Full company description

Jiangsu Skyray Instrument Co., Ltd. provides instruments in spectroscopy and chromatography fields. It also offers spectrometer comprising gold, alloy, mineral, soil, oil, and food analyzer; RoHS tester, and coating thickness measurement instruments. In addition, the company provides atomic absorption spectrometer, mass spectrometry, chromatograph, metal analyzer, carbon and sulfur analyzer, sample preparation system, optical metrology, and skyray instruments. Further, it offers COVID-19 test kits. The company serves electronics, electric appliances, jewelries, toys, food, construction material, metallurgy, minerals, plastic, petroleum, oil, chemistry, medicine, and other sectors. Jiangsu Skyray Instrument Co., Ltd. was founded in 2006 and is based in Kunshan, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Skyray Instrument Co reported revenue of ¥619M in FY2025 versus ¥1.5B in FY2021, a compound −20.4%/yr. Reported net income was −¥233M in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
619M CNY
Latest YoY
−27.3%
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.
−23.9%
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.
−7.9%
Avg. growth/yr (18Y) 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.
+10.7%
Revenue −20.4%/yr
FY21 ¥1.5B
FY22 ¥1.4B
FY23 ¥1.0B
FY24 ¥851M
FY25 ¥619M
Net income
FY21 −¥54.3M
FY22 −¥87.9M
FY23 −¥114M
FY24 −¥97.3M
FY25 −¥233M

300165 screens 83% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Jiangsu Skyray Instrument Co Fair Value". https://www.fairvalue-calculator.com/stock/300165

Peer Group

Scientific & Technical Instruments · 161 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 54 · Below median
Fair Value upside −83% · Bottom 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -36% · Bottom 25%
Operating margin (TTM) 6% · Below median
Revenue growth 5% · Below median
Debt / equity 1.01× · Higher than 75% of peers

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/B 0.41× · Cheaper than 75% of peers
P/S (TTM) 0.68× · Cheaper than 75% of peers
P/FCF 2.1× · 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 0
FUTURE 26 · sector 34
PAST 0 · sector 25
HEALTH 50 · sector 98
DIVIDEND 0 · sector 24

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $315.90 $84.16 -73%
Garmin Ltd GRMN $241.76 $146.67 -39%
Teledyne Technologies Incorporated TDY $635.52 $367.58 -42%
Chroma ATE Inc 2360 1,905 TWD 286.15 TWD -85%
Hexagon AB HEXAB kr 80.10 kr 52.93 -34%
MKS Inc MKSI $324.69 $77.46 -76%
AVIC Chengdu Aircraft Company 302132 ¥52.91 ¥34.47 -35%
Fortive Corporation FTV $61.78 $33.84 -45%
Trimble Inc TRMB $52.72 $24.47 -54%
Cognex Corporation CGNX $64.07 $13.75 -79%

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Frequently asked questions

Is Jiangsu Skyray Instrument Co (300165) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of ¥0.9100 versus a price of ¥5.39, about −83% (overvalued).
What is the fair value of 300165?
Our model-based fair value for Jiangsu Skyray Instrument Co is ¥0.9100 (as of Jul 7, 2026), built from audited fundamentals. The current price is ¥5.39.
What is the quality score of 300165?
Jiangsu Skyray Instrument Co has a Quality Score of 54/100. 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 Jiangsu Skyray Instrument Co (300165)?
Jiangsu Skyray Instrument Co reported trailing-twelve-month revenue of about 626M CNY (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 300165?
The net profit margin of Jiangsu Skyray Instrument Co is about -35.7%, 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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