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Chengdu ALD Aviation Manufacturing Corporation (300696) Fair Value & Analysis

Industrials · CN · Market cap 9.7B CNY

CA Chengdu ALD Aviation Manufacturing Corporation 300696 · SHE
Price¥22.04
Fair Value¥4.40
Upside-80.0%
Quality62/100
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Healthy Growth
Solidly profitable · 10.7% net margin
Low debt · generates free cash flow
0.21% dividend yield
Trails peers (3/14)
Narrow moat 30/100
Evidence: High Range ¥3.46 – ¥4.94 Share as image

Fair value as of: Jul 9, 2026

From 24 valuation models · updated 34 days ago

Share price −6.4% over the past month.

A solid business, but screening 80% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥4.94). 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.
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Price vs Fair Value (5 years)

¥46.39 ¥9.94 Fair Value ¥4.40 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 ¥9.94 – ¥46.39 · fair‑value band ¥3.46 – ¥4.94 · the ¥22.04 price screens above the ¥4.40 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Chengdu ALD Aviation Manufacturing Corporation (300696) currently trades at ¥22.04, while our model-based Fair Value estimate is ¥4.40, implying the stock looks roughly 80.0% overvalued today. The Quality Score stands at 62/100 (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, Chengdu ALD Aviation Manufacturing Corporation generated revenue of 503M CNY at a net margin of 10.7%. Revenue grew 2.9% year over year. It earns a return on equity of 2.7%. The balance sheet holds a net cash position of 358M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥3.46 (bear case) to ¥4.94 (bull case); at ¥22.04, 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 50% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -80%, 300696 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 ¥3.44 ¥5.50 ¥9.18 80
Residual Income ¥4.60 ¥4.42 ¥3.63 76
Rev-Margin DCF ¥3.24 ¥5.07 ¥7.74 74
All 24 models by family
DCF Models
FCF DCF ¥3.54 ¥5.12 ¥9.35 38
Owner Earnings ¥5.72 ¥10.84 ¥20.94 31
5Y Revenue Exit ¥3.24 ¥4.98 ¥7.98 39
5Y EBITDA Exit ¥4.62 ¥8.01 ¥13.55 41
5Y P/E Exit ¥3.94 ¥6.79 ¥10.41 38
10Y Revenue Exit ¥3.25 ¥5.19 ¥7.82 36
10Y EBITDA Exit ¥4.26 ¥7.65 ¥13.78 37
10Y P/E Exit ¥3.80 ¥6.45 ¥10.88 35
Earnings-Based
Graham-Dodd ¥1.28 ¥8.50 ¥11.91 54
Lynch FV ¥2.48 ¥3.55 ¥4.61 50
PEG = 1.0 ¥2.48 ¥3.55 ¥4.61 46
EPV ¥2.87 ¥3.13 ¥3.35 59
Multiples
P/E Multiple ¥2.96 ¥3.95 ¥4.94 63
P/S Multiple ¥2.40 ¥3.20 ¥4.00 58
P/B Multiple ¥2.40 ¥3.20 ¥4.00 55
EV/EBIT ¥3.78 ¥4.62 ¥5.46 53
EV/EBITDA ¥5.21 ¥6.53 ¥7.85 54
EV/Revenue ¥3.05 ¥3.82 ¥4.60 43
Asset-Based
NCAV (Graham) ¥3.24 ¥4.34 ¥6.47 50
Growth DCF
Growth DCF ¥3.44 ¥5.50 ¥9.18 80
Rev-Margin DCF ¥3.24 ¥5.07 ¥7.74 74
Economic Profit
Residual Income ¥4.60 ¥4.42 ¥3.63 76
ROIC Compounder ¥2.87 ¥3.13 ¥3.35 72
Growth Earnings
Growth-Adj P/E ¥3.46 ¥4.94 ¥6.43 68

Widest divergence: DCF Models (¥6.45) versus Economic Profit (¥3.13). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 503M CNY
Revenue growth (YoY) +2.9%
Net margin 10.7%
Return on equity 2.7%
Free cash flow 46.5M CNY FY2025
P/E ratio 174.3
More key figures
Operating margin -1.4%
EPS (TTM) ¥0.1900
Dividend yield 0.2%
Net cash 358M CNY FY2024

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 26

Profitability 25
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 52
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

Chengdu ALD Aviation Manufacturing Corporation, together with its subsidiary, Chengdu Tangan Aviation Manufacturing Co., Ltd., researches, designs, develops, manufactures and sells military and civil aircraft parts, aero-engine parts, and aerospace large structural parts in China.

Full company description

Chengdu ALD Aviation Manufacturing Corporation, together with its subsidiary, Chengdu Tangan Aviation Manufacturing Co., Ltd., researches, designs, develops, manufactures and sells military and civil aircraft parts, aero-engine parts, and aerospace large structural parts in China. The company also offers precision machining parts; special process products; assembly parts, such as bush, bearing and spline, and structural parts; and engine products, including fan case, intermediate case, and outer duct case on combustion chamber. In addition, it provides mounting vehicles, electromechanical simulators, jacks, and other ground support equipment. Chengdu ALD Aviation Manufacturing Corporation was founded in 2004 and is based in Chengdu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chengdu ALD Aviation Manufacturing Corporation reported revenue of ¥500M in FY2025 versus ¥614M in FY2021, a compound −5.0%/yr. Reported net income was ¥55.3M in FY2025, compounding −31.7%/yr from FY2021.

Growth Quality 87/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
500M CNY
Latest YoY
+66.1%
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.
−3.8%
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.
+10.5%
Avg. growth/yr (12Y) 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.
+23.2%
Revenue −5.0%/yr
FY21 ¥614M
FY22 ¥561M
FY23 ¥350M
FY24 ¥301M
FY25 ¥500M
Net income −31.7%/yr
FY21 ¥255M
FY22 ¥213M
FY23 ¥68.9M
FY24 −¥24.9M
FY25 ¥55.3M
Character of growth · EPS growth decomposed (2013-2024) +12.2 % p.a.
Revenue per share +18.3 pp

of which total revenue +24.6 pp · buybacks/dilution −6.3 pp

EBIT margin −5.3 pp
Tax rate +0.4 pp
Residual (interest, one-offs) −1.2 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).

300696 screens 80% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "Chengdu ALD Aviation Manufacturing Corporation Fair Value". https://www.fairvalue-calculator.com/stock/300696

Peer Group

Aerospace & Defense · 229 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 · Above median
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 11% · Above median
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 3% · Below median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 174.3× · Pricier than 75% of peers
P/B 5.12× · Pricier than median
P/S (TTM) 19.39× · Pricier than 75% of peers
P/FCF 31.1× · Pricier than median
EV/EBITDA 87.3× · 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 15 · sector 47
PAST 11 · sector 37
HEALTH 100 · sector 94
DIVIDEND 4 · sector 15

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.

Weapons Defense

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 9, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €213.25 €86.20 -60%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
HD Hyundai Heavy Industries Co 329180 466,000 KRW 272,966 KRW -41%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%

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Frequently asked questions

Is Chengdu ALD Aviation Manufacturing Corporation (300696) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥4.40 versus a price of ¥22.04, about −80% (overvalued).
What is the fair value of 300696?
Our model-based fair value for Chengdu ALD Aviation Manufacturing Corporation is ¥4.40 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥22.04.
What is the quality score of 300696?
Chengdu ALD Aviation Manufacturing Corporation 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 Chengdu ALD Aviation Manufacturing Corporation (300696)?
Chengdu ALD Aviation Manufacturing Corporation reported trailing-twelve-month revenue of about 503M CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300696?
The net profit margin of Chengdu ALD Aviation Manufacturing Corporation is about 10.7%, meaning it keeps roughly 10.7% of revenue as net income. Based on the latest reported figures.
Does Chengdu ALD Aviation Manufacturing Corporation pay a dividend?
Chengdu ALD Aviation Manufacturing Corporation currently shows a dividend yield of about 0.21% 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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