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Sungrow Power Supply Co (300274) Fair Value & Analysis

Industrials · CN · Market cap 238B CNY

SP Sungrow Power Supply Co 300274 · SHE
Price¥106.70
Fair Value¥123.83
Upside+16.1%
Quality57/100
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Healthy Growth
Solidly profitable · 13.9% net margin
Low debt · generates free cash flow
1.32% dividend yield
Ranks above peers (10/15)
Wide moat 67/100
Evidence: High Range ¥94.13 – ¥386.42 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 27 days ago

Share price −16.3% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • The model range is unusually wide (¥94.13 to ¥386.42). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from ¥94.13 (bear) to ¥386.42 (bull), base ¥123.83. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 57/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥204.42 ¥39.47 Fair Value ¥123.83 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 ¥39.47 – ¥204.42 · fair‑value band ¥94.13 – ¥386.42 · the ¥106.70 price screens below the ¥123.83 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Sungrow Power Supply Co (300274) currently trades at ¥106.70, while our model-based Fair Value estimate is ¥123.83, implying the stock looks roughly 16.1% undervalued today. We read business quality at 57/100 (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, Sungrow Power Supply Co generated revenue of 85.7B CNY at a net margin of 13.9%. Revenue declined 18.3% year over year. It earns a return on equity of 25.0%. The balance sheet holds a net cash position of 10.4B CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥94.13 (bear case) to ¥386.42 (bull case); at ¥106.70, 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 49% below its 52-week high and 81% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -53% fair-value upside, at 16%, 300274 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥122.46 ¥244.89 ¥450.51 80
Residual Income ¥48.47 ¥66.23 ¥518.51 76
Rev-Margin DCF ¥112.98 ¥195.97 ¥369.57 74
All 26 models by family
DCF Models
FCF DCF ¥129.35 ¥202.73 ¥442.65 38
Owner Earnings ¥102.77 ¥228.00 ¥502.65 31
5Y Revenue Exit ¥103.17 ¥172.52 ¥317.72 39
5Y EBITDA Exit ¥109.70 ¥185.72 ¥334.76 41
5Y P/E Exit ¥116.10 ¥245.84 ¥422.34 38
10Y Revenue Exit ¥108.97 ¥230.61 ¥308.73 36
10Y EBITDA Exit ¥117.42 ¥244.99 ¥465.79 37
10Y P/E Exit ¥122.20 ¥259.11 ¥483.58 35
Earnings-Based
Graham-Dodd ¥44.15 ¥307.91 ¥432.11 54
Lynch FV ¥159.08 ¥227.25 ¥295.43 50
PEG = 1.0 ¥159.08 ¥227.25 ¥295.43 46
EPV ¥84.31 ¥97.51 ¥109.24 59
Dividend Discount
Gordon GGM ¥20.36 ¥44.44 ¥74.77 70
DDM Multi-Stage ¥20.36 ¥36.40 ¥46.31 61
Multiples
P/E Multiple ¥97.39 ¥129.86 ¥162.32 63
P/S Multiple ¥80.66 ¥107.54 ¥134.43 58
P/B Multiple ¥50.59 ¥67.45 ¥84.31 55
EV/EBIT ¥125.33 ¥163.93 ¥202.53 53
EV/EBITDA ¥98.64 ¥128.34 ¥158.04 54
EV/Revenue ¥84.81 ¥117.08 ¥149.34 43
Asset-Based
NCAV (Graham) ¥11.24 ¥15.06 ¥22.48 50
Growth DCF
Growth DCF ¥122.46 ¥244.89 ¥450.51 80
Rev-Margin DCF ¥112.98 ¥195.97 ¥369.57 74
Economic Profit
Residual Income ¥48.47 ¥66.23 ¥518.51 76
ROIC Compounder ¥102.16 ¥146.59 ¥205.81 72
Growth Earnings
Growth-Adj P/E ¥204.98 ¥292.83 ¥380.68 68

Widest divergence: Growth Earnings (¥292.83) versus Asset-Based (¥15.06). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 85.7B CNY
Revenue growth (YoY) -18.3%
Net margin 13.9%
Return on equity 25.0%
Free cash flow 13.9B CNY FY2025
P/E ratio 26.5
More key figures
Operating margin 18.9%
EPS (TTM) ¥5.80
Dividend yield 1.0%
EPS growth (YoY) -40.0%
Net cash 10.4B CNY FY2024

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 63 · Market factors (momentum, volatility) 48

Profitability 66
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 54
Distance to the 52-week high (market factor)
Net Issuance 40
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

Sungrow Power Supply Co., Ltd. engages in the research and development, production, sale, and service of new energy power equipment for solar energy, wind energy, energy storage, and electric vehicles.

Full company description

Sungrow Power Supply Co., Ltd. engages in the research and development, production, sale, and service of new energy power equipment for solar energy, wind energy, energy storage, and electric vehicles. The company offers photovoltaic inverters, wind power converters, energy storage systems, new energy vehicle drive systems, floating photovoltaic systems, and smart energy operation services, as well as operation and maintenance services. It operates in Europe, the Americas, the Middle East, Africa, the Asia-Pacific, China, and internationally. Sungrow Power Supply Co., Ltd. was founded in 1997 and is based in Hefei, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sungrow Power Supply Co reported revenue of ¥89.2B in FY2025 versus ¥24.1B in FY2021, a compound +38.6%/yr. Reported net income was ¥13.5B in FY2025, compounding +70.8%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
89.2B CNY
Latest YoY
+14.5%
Avg. growth/yr (3Y)
+30.4%
Avg. growth/yr (5Y)
+35.8%
Avg. growth/yr (17Y)
+49.1%
Revenue +38.6%/yr
FY21 ¥24.1B
FY22 ¥40.3B
FY23 ¥72.3B
FY24 ¥77.9B
FY25 ¥89.2B
Net income +70.8%/yr
FY21 ¥1.6B
FY22 ¥3.6B
FY23 ¥9.4B
FY24 ¥11.0B
FY25 ¥13.5B

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Cite: Fair Value Calculator (2026). "Sungrow Power Supply Co Fair Value". https://www.fairvalue-calculator.com/stock/300274

Peer Group

Electrical Equipment & Parts · 519 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 57 · Above median
Fair Value upside +16% · Top 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 1.3% · Above median
Debt / equity 0.07× · Higher than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 19.8× · Cheaper than 75% of peers
P/B 5.11× · Pricier than 75% of peers
P/S (TTM) 2.78× · Pricier than median
P/FCF 2.5× · Cheaper than median
EV/EBITDA 14.3× · Cheaper than median
PEG 5.35× · 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 55 · sector 0
FUTURE 0 · sector 57
PAST 100 · sector 27
HEALTH 97 · sector 97
DIVIDEND 26 · sector 18

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 12.39 SGD 1.48 SGD -88%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%
Hyosung Heavy Industries Corporation 298040 2,789,000 KRW 1,065,378 KRW -62%

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Frequently asked questions

Is Sungrow Power Supply Co (300274) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥123.83 versus a price of ¥106.70, about +16% (undervalued).
What is the fair value of 300274?
Our model-based fair value for Sungrow Power Supply Co is ¥123.83 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥106.70.
What is the quality score of 300274?
Sungrow Power Supply Co has a Quality Score of 57/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Sungrow Power Supply Co (300274)?
Sungrow Power Supply Co reported trailing-twelve-month revenue of about 85.7B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 300274?
The net profit margin of Sungrow Power Supply Co is about 13.9%, meaning it keeps roughly 13.9% of revenue as net income. Based on the latest reported figures.
Does Sungrow Power Supply Co pay a dividend?
Sungrow Power Supply Co currently shows a dividend yield of about 1.00% 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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