Shengyuan Environmental Protection (300867) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Shengyuan Environmental Protection stock ¥13.77, price ¥15.65, that is 12.0% below the price, quality 58 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range ¥9.69 – ¥34.31 · fair‑value band ¥9.15 – ¥22.62 · the ¥15.65 price screens above the ¥13.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Shengyuan Environmental Protection Co.,Ltd. engages in the domestic waste incineration power generation and sewage treatment in China. The company is involved in the collection and transportation of garbage. It operates 13 power plants and 5 domestic sewage treatment plants.
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Shengyuan Environmental Protection Co.,Ltd. was founded in 1997 and is based in Quanzhou, China.
Stock analysis
Shengyuan Environmental Protection (300867) currently trades at ¥15.65, while our model-based Fair Value estimate is ¥13.77, 12% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥22.35 per share, and 9 of the 23 models we run sit above the ¥15.65 price.
Bear case: the Earnings-Based group reads lowest at ¥7.50, and 14 of the 23 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥9.15 (bear) to ¥22.62 (bull), the price of ¥15.65 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Shengyuan Environmental Protection reported revenue of 1.6B CNY in FY2025 versus 2.3B CNY in FY2021, a compound −9.3%/yr. Reported net income was 248M CNY in FY2025, compounding −14.8%/yr from FY2021.
Key figures
Market cap 4.3B CNY (≈ $638M) Small · P/E ratio 12.9 · P/S ratio 2.66 · EPS (TTM) ¥1.21 · Dividend yield 0.6% · Net margin 20.6% · Return on equity 8.4% · Return on assets (EBIT) 6.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at −12%, 300867 screens cheaper than that median.
Fair Value models
Bear¥9.15Fair Value ¥13.77Bull¥22.62
Price ¥15.65 · Downside -12.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.9557 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−1.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−3.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.5%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+20.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+3.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.8%
Dividend (yield on the price)0.6%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.47% → 37%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +8.8% a year for the price.
Compare Shengyuan Environmental Protection with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Waste Management · 155 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−12.0% · Below median
Profitability
Return on equity (12 months)8.4% · Above median
Return on assets2.8% · Below median
Net margin (12 months)20.6% · Top 25%
Operating margin (12 months)29.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)4.0% · Below median
Dividend yield (12 months)0.6% · Bottom 25%
Balance sheet
Debt / equity0.74× · Highest 25%
Valuation Multiplesvs Waste Management median · lower = cheaper
P/E (12 months)12.9× · Cheaper than median
P/B1.09× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)2.66× · Pricier than median
Price / free cash flow (fiscal year)11.2× · Cheaper than median
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Is Shengyuan Environmental Protection (300867) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ¥13.77 versus a price of ¥15.65, about 12% lower (overvalued).
What is the fair value of 300867?
Our model-based fair value for Shengyuan Environmental Protection is ¥13.77 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥15.65.
What is the quality score of 300867?
Shengyuan Environmental Protection has a Quality Score of 58/100. 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 price target for Shengyuan Environmental Protection (300867)?
Our model-based price target is the fair value of ¥13.77 (as of Nov 5, 2026) from 24 valuation models. Cautious scenario ¥9.15, optimistic scenario ¥22.62. It is a calculation from audited fundamentals, not an analyst target.
What is the Shengyuan Environmental Protection stock forecast for 2026?
Our models put fair value at ¥13.77, about 12% lower versus a price of ¥15.65 (overvalued). Cautious scenario ¥9.15, optimistic scenario ¥22.62. The calculation is refreshed regularly with new filings.
What is the revenue of Shengyuan Environmental Protection (300867)?
Shengyuan Environmental Protection reported trailing-twelve-month revenue of about 1.6B CNY (latest available figure, as of Nov 5, 2026).
Does Shengyuan Environmental Protection pay a dividend?
Shengyuan Environmental Protection currently shows a dividend yield of 0.59% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Shengyuan Environmental Protection (300867) and when is the ex-dividend date?
Shengyuan Environmental Protection pays a dividend of ¥0.092 per share a year, a dividend yield of 0.6%. The last ex-dividend date was May 26, 2026. A dividend has been paid every year since at least 2021. The payout ratio is 7.6% of earnings. Free cash flow covers the dividend 15.16 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Shengyuan Environmental Protection (300867)?
For today's price to be fair in a discounted-cash-flow model, Shengyuan Environmental Protection would have to grow free cash flow by +10.6 % per year for five years (discount rate 10.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.5 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 300867 use?
Our models discount Shengyuan Environmental Protection at 10.7 %: a base by market capitalisation (small), damped by beta 0.58, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Shengyuan Environmental Protection that is +10.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.7 %) and the same formula as our fair value.
How much growth has Shengyuan Environmental Protection (300867) delivered so far?
Over the past 5 years revenue at Shengyuan Environmental Protection grew +8.5 % a year. The price currently implies free-cash-flow growth of +10.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Shengyuan Environmental Protection (300867) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Shengyuan Environmental Protection (+10.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Shengyuan Environmental Protection (300867)?
The free-cash-flow yield on the price is 8.91 %: that much free cash flow Shengyuan Environmental Protection produces per unit of market value. When it exceeds the discount rate of our models (10.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shengyuan Environmental Protection (300867)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shengyuan Environmental Protection it is ¥13.77 per share (as of Nov 5, 2026), against a price of ¥15.65. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Shengyuan Environmental Protection stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 300867 trades above its calculated fair value: price ¥15.65, fair value ¥13.77, a gap of about −12% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 300867?
No. The price is what the market pays today (¥15.65); the fair value is what the company's own numbers justify (¥13.77). For Shengyuan Environmental Protection the two are ¥1.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shengyuan Environmental Protection worth?
The market values Shengyuan Environmental Protection at about 4.3B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥15.65; our models calculate a fair value of ¥13.77 per share.
What do the bullish and bearish scenarios say about 300867?
Our models span a range for Shengyuan Environmental Protection: cautious scenario ¥9.15, base ¥13.77, optimistic ¥22.62 per share (as of Nov 5, 2026, price ¥15.65). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300867?
Shengyuan Environmental Protection trades at a price-to-earnings ratio of 12.9 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥13.77 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 23.3. Other multiples: P/B 1.1, P/S 2.7, EV/EBITDA 8.4.
How solid is the balance sheet of Shengyuan Environmental Protection (300867)?
Balance-sheet figures for Shengyuan Environmental Protection (as of Nov 5, 2026): return on equity 8.4%, debt of 0.74 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 300867 from its 52-week high?
Shengyuan Environmental Protection trades at ¥15.65, about 36% below its 52-week high of ¥24.63 and 4% above the low of ¥15.07 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥13.77 is for.
Which stocks are comparable to Shengyuan Environmental Protection?
From the same area (Industrials) we also value Waste Management, Inc, Republic Services, Inc, Waste Connections, Inc, Veolia Environnement SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shengyuan Environmental Protection stock attractive at the current price?
The data as of Nov 5, 2026: price ¥15.65, calculated fair value ¥13.77 (−12%), Quality Score 58/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 300867 calculated?
We run Shengyuan Environmental Protection through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥13.77 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Shengyuan Environmental Protection itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Shengyuan Environmental Protection (300867)?
The closing price on Nov 6, 2026 was ¥15.65. Our model-based fair value is ¥13.77, about 12% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shengyuan Environmental Protection right now?
Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥9.15 to ¥22.62) leaves room in how you read the outcome.
Key figures of Shengyuan Environmental Protection
How large is the market capitalisation of Shengyuan Environmental Protection (300867)?
The market capitalisation of Shengyuan Environmental Protection is 4.3B CNY (≈ $638M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Shengyuan Environmental Protection (300867)?
The price-to-sales ratio of Shengyuan Environmental Protection is 2.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shengyuan Environmental Protection (300867)?
Earnings per share at Shengyuan Environmental Protection are ¥1.21 (price ÷ EPS = P/E 12.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shengyuan Environmental Protection (300867)?
The dividend yield of Shengyuan Environmental Protection is 0.6% (payout 7.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Shengyuan Environmental Protection (300867)?
The net margin of Shengyuan Environmental Protection is 20.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Shengyuan Environmental Protection (300867)?
The return on equity (ROE) of Shengyuan Environmental Protection is 8.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Shengyuan Environmental Protection (300867)?
On an EBIT basis the return on assets of Shengyuan Environmental Protection is 6.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Shengyuan Environmental Protection (300867)?
The operating margin of Shengyuan Environmental Protection is 29.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shengyuan Environmental Protection (300867)?
Revenue at Shengyuan Environmental Protection is growing +4.0% versus a year earlier (3y avg −3.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Shengyuan Environmental Protection (300867)?
Earnings per share at Shengyuan Environmental Protection are growing +65.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Shengyuan Environmental Protection (300867) carry?
The net debt of Shengyuan Environmental Protection is 2.8B CNY (fiscal year 2025, ≈ 7.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026