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Zhenjiang Dongfang Electric Heating Technology Co (300217) Fair Value & Analysis

Industrials · CN · Market cap 7.1B CNY

ZD Zhenjiang Dongfang Electric Heating Technology Co 300217 · SHE
Price¥4.54
Fair Value¥2.32
Upside-48.9%
Quality53/100
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Expensive Growth
Thin margins · 4.4% net margin
Low debt · generates free cash flow
0.34% dividend yield
Trails peers (2/14)
Narrow moat 30/100
Evidence: High Range ¥1.55 – ¥2.90 Share as image

Fair value as of: Jul 9, 2026

From 26 valuation models · updated 32 days ago

Fair value updated Jul 9, 2026, revised from ¥2.69 to ¥2.32 (−13.8%) since Jun 24, 2026. Share price +7.1% over the past month.

A solid business, but screening 49% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.90). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥1.55 to ¥2.90) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥8.44 ¥2.70 Fair Value ¥2.32 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 9, 2026.

How to read this chart

60‑month range ¥2.70 – ¥8.44 · fair‑value band ¥1.55 – ¥2.90 · the ¥4.54 price screens above the ¥2.32 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Zhenjiang Dongfang Electric Heating Technology Co (300217) currently trades at ¥4.54, while our model-based Fair Value estimate is ¥2.32, implying the stock looks roughly 48.9% overvalued today. The Quality Score stands at 53/100 (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, Zhenjiang Dongfang Electric Heating Technology Co generated revenue of 3.2B CNY at a net margin of 4.4%. Revenue declined 12.9% year over year. It earns a return on equity of 3.8%. The balance sheet holds a net cash position of 465M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥1.55 (bear case) to ¥2.90 (bull case); at ¥4.54, 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 31% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -49%, 300217 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 ¥0.6400 ¥0.8500 ¥1.17 80
Residual Income ¥2.08 ¥2.03 ¥1.76 76
Rev-Margin DCF ¥1.53 ¥2.62 ¥3.97 74
All 26 models by family
DCF Models
FCF DCF ¥0.6500 ¥0.8700 ¥1.23 38
Owner Earnings ¥1.25 ¥1.89 ¥2.94 31
5Y Revenue Exit ¥1.53 ¥2.67 ¥4.22 39
5Y EBITDA Exit ¥1.98 ¥3.56 ¥5.55 41
5Y P/E Exit ¥1.49 ¥2.57 ¥3.80 38
10Y Revenue Exit ¥1.16 ¥2.11 ¥3.59 36
10Y EBITDA Exit ¥1.50 ¥2.74 ¥4.66 37
10Y P/E Exit ¥1.18 ¥2.04 ¥3.26 35
Earnings-Based
Graham-Dodd ¥0.7200 ¥3.07 ¥4.20 54
Lynch FV ¥0.7900 ¥1.12 ¥1.46 50
PEG = 1.0 ¥0.7900 ¥1.12 ¥1.46 46
EPV ¥1.68 ¥1.90 ¥2.08 59
Dividend Discount
Gordon GGM ¥0.2900 ¥0.5800 ¥0.8700 70
DDM Multi-Stage ¥0.2900 ¥0.5000 ¥0.6100 61
Multiples
P/E Multiple ¥1.74 ¥2.32 ¥2.90 63
P/S Multiple ¥1.34 ¥1.79 ¥2.24 58
P/B Multiple ¥1.34 ¥1.79 ¥2.24 55
EV/EBIT ¥2.85 ¥3.69 ¥4.53 53
EV/EBITDA ¥2.89 ¥3.74 ¥4.59 54
EV/Revenue ¥2.03 ¥2.76 ¥3.49 43
Asset-Based
NCAV (Graham) ¥1.43 ¥1.91 ¥2.85 50
Growth DCF
Growth DCF ¥0.6400 ¥0.8500 ¥1.17 80
Rev-Margin DCF ¥1.53 ¥2.62 ¥3.97 74
Economic Profit
Residual Income ¥2.08 ¥2.03 ¥1.76 76
ROIC Compounder ¥1.68 ¥1.90 ¥2.08 72
Growth Earnings
Growth-Adj P/E ¥1.35 ¥1.93 ¥2.51 68

Widest divergence: Multiples (¥2.32) versus Dividend Discount (¥0.5000). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.2B CNY
Revenue growth (YoY) -12.9%
Net margin 4.4%
Return on equity 3.8%
Free cash flow 39.0M CNY FY2025
P/E ratio 48.3
More key figures
Operating margin 6.8%
EPS (TTM) ¥0.1000
Dividend yield 0.3%
EPS growth (YoY) -36.1%
Net cash 465M CNY FY2024

Figures from reported company fundamentals · as of Jul 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 53 · Market factors (momentum, volatility) 35

Profitability 27
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 87
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

Zhenjiang Dongfang Electric Heating Technology Co.,Ltd engages in the research and development, production, and sale of electric heaters and control systems in China.

Full company description

Zhenjiang Dongfang Electric Heating Technology Co.,Ltd engages in the research and development, production, and sale of electric heaters and control systems in China. The company offers electric heaters, such as metal tubular electric heaters, stainless steel fin type electric heaters, heaters, PTC metal ceramic PTC heaters, bare electric heating wire heaters, aluminum foil heaters, silica gels and tropics, and explosion-proof electric heater electric heating systems and electrical control cabinets used in the air conditioning and refrigeration equipment, household appliances, electric vehicle, polycrystalline silicon manufacturing, petroleum, natural gas, chemical, nuclear power, military, power, railways, ships, machinery, and medical and health fields. It also exports its products to the United States, Canada, Russia, France, Italy, Japan, South Korea, Saudi Arabia, Israel, and other countries. The company was founded in 1992 and is headquartered in Zhenjiang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhenjiang Dongfang Electric Heating Technology Co reported revenue of ¥3.3B in FY2025 versus ¥2.8B in FY2021, a compound +4.1%/yr. Reported net income was ¥156M in FY2025, compounding −2.7%/yr from FY2021.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.3B CNY
Latest YoY
−11.7%
Avg. growth/yr (3Y)
−5.0%
Avg. growth/yr (5Y)
+6.5%
Avg. growth/yr (17Y)
+16.5%
Revenue +4.1%/yr
FY21 ¥2.8B
FY22 ¥3.8B
FY23 ¥4.1B
FY24 ¥3.7B
FY25 ¥3.3B
Net income −2.7%/yr
FY21 ¥174M
FY22 ¥302M
FY23 ¥644M
FY24 ¥318M
FY25 ¥156M

300217 screens 49% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Zhenjiang Dongfang Electric Heating Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/300217

Peer Group

Specialty Industrial Machinery · 809 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 53 · Below median
Fair Value upside −49% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 48.3× · Pricier than median
P/B 1.69× · Cheaper than median
P/S (TTM) 2.24× · Pricier than median
P/FCF 27.1× · Pricier than 75% of peers
EV/EBITDA 25.1× · 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 0 · sector 0
FUTURE 0 · sector 23
PAST 15 · sector 28
HEALTH 99 · sector 96
DIVIDEND 7 · 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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 9, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Zhenjiang Dongfang Electric Heating Technology Co (300217) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥2.32 versus a price of ¥4.54, about −49% (overvalued).
What is the fair value of 300217?
Our model-based fair value for Zhenjiang Dongfang Electric Heating Technology Co is ¥2.32 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥4.54.
What is the quality score of 300217?
Zhenjiang Dongfang Electric Heating Technology Co has a Quality Score of 53/100. 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 Zhenjiang Dongfang Electric Heating Technology Co (300217)?
Zhenjiang Dongfang Electric Heating Technology Co reported trailing-twelve-month revenue of about 3.2B CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300217?
The net profit margin of Zhenjiang Dongfang Electric Heating Technology Co is about 4.4%, meaning it keeps roughly 4.4% of revenue as net income. Based on the latest reported figures.
Does Zhenjiang Dongfang Electric Heating Technology Co pay a dividend?
Zhenjiang Dongfang Electric Heating Technology Co currently shows a dividend yield of about 0.34% relative to its recent price (as of Jul 9, 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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