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Western Regions Tourism Development Co (300859) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 4.5B CNY

WR Western Regions Tourism Development Co 300859 · SHE
Price¥27.49
Fair Value¥9.93
Upside-63.9%
Quality55/100
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Mixed Growth
Highly profitable · 23.6% net margin
Low debt · generates free cash flow
1.00% dividend yield
Trails peers (5/14)
Narrow moat 44/100
Evidence: High Range ¥7.45 – ¥12.42 Share as image

Fair value as of: Jul 9, 2026

From 24 valuation models · updated 32 days ago

Fair value updated Jul 9, 2026, revised from ¥10.57 to ¥9.93 (−6.1%) since Jun 24, 2026. Share price +4.1% over the past month.

A solid business, but screening 64% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥12.42). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥56.48 ¥13.73 Fair Value ¥9.93 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 ¥13.73 – ¥56.48 · fair‑value band ¥7.45 – ¥12.42 · the ¥27.49 price screens above the ¥9.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Western Regions Tourism Development Co (300859) currently trades at ¥27.49, while our model-based Fair Value estimate is ¥9.93, implying the stock looks roughly 63.9% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical 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, Western Regions Tourism Development Co generated revenue of 329M CNY at a net margin of 23.6%. Revenue grew 18.1% year over year. It earns a return on equity of 9.7%. Net debt stands at 1.2M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥7.45 (bear case) to ¥12.42 (bull case); at ¥27.49, 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 53% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -16% fair-value upside, at -64%, 300859 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 ¥6.06 ¥9.99 ¥17.49 80
Residual Income ¥4.31 ¥4.73 ¥6.61 76
Rev-Margin DCF ¥4.11 ¥6.39 ¥9.86 74
All 24 models by family
DCF Models
FCF DCF ¥6.33 ¥9.23 ¥17.84 38
Owner Earnings ¥5.52 ¥10.59 ¥20.84 31
5Y Revenue Exit ¥4.11 ¥5.90 ¥9.40 39
5Y EBITDA Exit ¥8.37 ¥14.91 ¥27.18 41
5Y P/E Exit ¥8.38 ¥16.90 ¥28.16 38
10Y Revenue Exit ¥4.69 ¥7.44 ¥9.88 36
10Y EBITDA Exit ¥7.73 ¥15.67 ¥30.84 37
10Y P/E Exit ¥7.74 ¥15.69 ¥29.98 35
Earnings-Based
Graham-Dodd ¥3.28 ¥22.85 ¥32.06 54
Lynch FV ¥7.33 ¥10.47 ¥13.62 50
PEG = 1.0 ¥7.33 ¥10.47 ¥13.62 46
EPV ¥5.87 ¥6.58 ¥7.20 59
Multiples
P/E Multiple ¥7.95 ¥10.60 ¥13.25 63
P/S Multiple ¥1.89 ¥2.52 ¥3.15 58
P/B Multiple ¥6.14 ¥8.19 ¥10.24 55
EV/EBIT ¥8.81 ¥11.29 ¥13.78 53
EV/EBITDA ¥9.28 ¥11.93 ¥14.57 54
EV/Revenue ¥3.12 ¥3.88 ¥4.63 43
Asset-Based
NCAV (Graham) ¥2.52 ¥3.38 ¥5.04 50
Growth DCF
Growth DCF ¥6.06 ¥9.99 ¥17.49 80
Rev-Margin DCF ¥4.11 ¥6.39 ¥9.86 74
Economic Profit
Residual Income ¥4.31 ¥4.73 ¥6.61 76
ROIC Compounder ¥6.56 ¥8.78 ¥10.50 72
Growth Earnings
Growth-Adj P/E ¥9.98 ¥14.25 ¥18.53 68

Widest divergence: Growth Earnings (¥14.25) versus Asset-Based (¥3.38). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 329M CNY
Revenue growth (YoY) +18.1%
Net margin 23.6%
Return on equity 9.7%
Free cash flow 49.9M CNY FY2025
P/E ratio 57.8
More key figures
Operating margin -140%
EPS (TTM) ¥0.5000
Dividend yield 1.0%
EPS growth (YoY) +13.8%
Net debt 1.2M CNY FY2017

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

Quality Score breakdown

Overall quality 55/100

Of which business quality 59 · Market factors (momentum, volatility) 24

Profitability 44
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 22
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 82
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

Western Regions Tourism Development Co.,Ltd provides tourism and travel services in China. The company offers tourism transportation, lake sightseeing, tourism resource development, cable cars, sightseeing vehicles, hot spring tourism, international travel agency, and catering services, as well as food and agricultural product sales.

Full company description

Western Regions Tourism Development Co.,Ltd provides tourism and travel services in China. The company offers tourism transportation, lake sightseeing, tourism resource development, cable cars, sightseeing vehicles, hot spring tourism, international travel agency, and catering services, as well as food and agricultural product sales. The company was formerly known as Xinjiang Tianshan Tianchi Tourism Co., Ltd. Western Regions Tourism Development Co.,Ltd was founded in 2001 and is headquartered in Fukang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Western Regions Tourism Development Co reported revenue of ¥326M in FY2025 versus ¥149M in FY2021, a compound +21.5%/yr. Reported net income was ¥74.7M in FY2025, compounding +29.0%/yr from FY2021.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
326M CNY
Latest YoY
+7.3%
Avg. growth/yr (3Y)
+47.2%
Avg. growth/yr (9Y)
+6.3%
Revenue +21.5%/yr
FY21 ¥149M
FY22 ¥102M
FY23 ¥305M
FY24 ¥304M
FY25 ¥326M
Net income +29.0%/yr
FY21 ¥27.0M
FY22 −¥9.3M
FY23 ¥106M
FY24 ¥86.5M
FY25 ¥74.7M

300859 screens 64% overvalued. Compare with Booking Holdings →

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Cite: Fair Value Calculator (2026). "Western Regions Tourism Development Co Fair Value". https://www.fairvalue-calculator.com/stock/300859

Peer Group

Travel Services · 90 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 55 · Above median
Fair Value upside −64% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) -140% · Bottom 25%
Revenue growth 18% · Top 25%
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Travel Services median · lower = cheaper

P/E (TTM) 57.8× · Pricier than 75% of peers
P/B 5.73× · Pricier than 75% of peers
P/S (TTM) 13.61× · Pricier than 75% of peers
P/FCF 13.3× · Pricier than median
EV/EBITDA 31.8× · 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 22
FUTURE 91 · sector 25
PAST 39 · sector 36
HEALTH 94 · sector 97
DIVIDEND 20 · sector 36

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 Travel Services stocks, each showing price versus our Fair Value estimate (as of Jul 9, 2026).

Stock Price Fair Value vs Fair Value
Booking Holdings BKNG $182.80 $152.94 -16%
Airbnb, Inc ABNB $148.62 $57.47 -61%
Royal Caribbean Cruises Ltd RCL $286.96 $215.19 -25%
Viking Holdings VIK $100.69 $43.51 -57%
Carnival Corporation CCL $26.41 $31.36 +19%
Expedia Group EXPE $268.77 $248.63 -7%
Trip.com Group TCOM $42.45 $88.82 +109%
Norwegian Cruise Line Holdings NCLH $19.46 $20.28 +4%
Global Business Travel Group GBTG $9.40 $4.17 -56%
Travel + Leisure Co TNL $73.27 $27.29 -63%

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Frequently asked questions

Is Western Regions Tourism Development Co (300859) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥9.93 versus a price of ¥27.49, about −64% (overvalued).
What is the fair value of 300859?
Our model-based fair value for Western Regions Tourism Development Co is ¥9.93 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥27.49.
What is the quality score of 300859?
Western Regions Tourism Development Co has a Quality Score of 55/100. 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 Western Regions Tourism Development Co (300859)?
Western Regions Tourism Development Co reported trailing-twelve-month revenue of about 329M CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300859?
The net profit margin of Western Regions Tourism Development Co is about 23.6%, meaning it keeps roughly 23.6% of revenue as net income. Based on the latest reported figures.
Does Western Regions Tourism Development Co pay a dividend?
Western Regions Tourism Development Co currently shows a dividend yield of about 1.00% 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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