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Keysino Separation Technology Inc (300899) Fair Value & Analysis

Industrials · CN · Market cap 1.9B CNY

KS Keysino Separation Technology Inc 300899 · SHE
Price¥28.72
Fair Value¥7.19
Upside-75.0%
Quality59/100
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Weak Growth
Loss-making · -1.8% net margin
Low debt · negative free cash flow
1.98% dividend yield
Trails peers (4/11)
Narrow moat 16/100
Evidence: High Range ¥6.11 – ¥8.38 Share as image

Fair value as of: Jul 9, 2026

From 16 valuation models · updated 32 days ago

Share price +2.9% over the past month.

A solid business, but screening 75% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥8.38). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥54.89 ¥16.39 Fair Value ¥7.19 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 ¥16.39 – ¥54.89 · fair‑value band ¥6.11 – ¥8.38 · the ¥28.72 price screens above the ¥7.19 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Keysino Separation Technology Inc (300899) currently trades at ¥28.72, while our model-based Fair Value estimate is ¥7.19, implying the stock looks roughly 75.0% overvalued today. The Quality Score stands at 59/100 (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, Keysino Separation Technology Inc generated revenue of 146M CNY at a net margin of -1.8%. Revenue declined 84.2% year over year. It earns a return on equity of -0.4%. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥6.11 (bear case) to ¥8.38 (bull case); at ¥28.72, 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 37% below its 52-week high and 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -40% fair-value upside, at -75%, 300899 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
Residual Income ¥7.14 ¥7.09 ¥6.18 76
ROIC Compounder ¥8.16 ¥8.52 ¥8.82 72
Gordon GGM ¥3.03 ¥4.53 ¥5.97 70
All 16 models by family
DCF Models
Owner Earnings ¥8.62 ¥9.67 ¥10.95 31
Earnings-Based
Graham-Dodd ¥2.90 ¥6.55 ¥8.38 54
PEG = 1.0 ¥1.07 ¥1.53 ¥1.99 46
EPV ¥8.16 ¥8.52 ¥8.82 59
Dividend Discount
Gordon GGM ¥3.03 ¥4.53 ¥5.97 70
DDM Multi-Stage ¥3.03 ¥4.18 ¥5.30 61
Multiples
P/E Multiple ¥6.73 ¥8.97 ¥11.21 63
P/S Multiple ¥4.90 ¥6.53 ¥8.16 58
P/B Multiple ¥5.44 ¥7.26 ¥9.07 55
EV/EBIT ¥11.15 ¥13.03 ¥14.91 53
EV/EBITDA ¥11.38 ¥13.33 ¥15.29 54
EV/Revenue ¥9.54 ¥11.26 ¥12.99 43
Asset-Based
NCAV (Graham) ¥4.99 ¥6.69 ¥9.98 50
Economic Profit
Residual Income ¥7.14 ¥7.09 ¥6.18 76
ROIC Compounder ¥8.16 ¥8.52 ¥8.82 72
Growth Earnings
Growth-Adj P/E ¥5.03 ¥7.19 ¥9.34 68

Widest divergence: DCF Models (¥9.67) versus Dividend Discount (¥4.18). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 146M CNY
Revenue growth (YoY) -84.2%
Net margin -1.8%
Return on equity -0.4%
Free cash flow −33.5M CNY FY2025
Operating margin -120%
More key figures
EPS (TTM) ¥-0.0400
Dividend yield 2.0%
EPS growth (YoY) +280%

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 58 · Market factors (momentum, volatility) 47

Profitability 30
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 47
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

Keysino Separation Technology Inc. engages in the research, development, and application of membrane separation technology in China and internationally.

Full company description

Keysino Separation Technology Inc. engages in the research, development, and application of membrane separation technology in China and internationally. It offers wastewater solutions, including industrial wastewater standard discharge and reuse, salt control discharge, high salinity wastewater zero liquid discharge, and wastewater plant upgrading; feedwater solutions comprising softened, demineralized, ultrapure water, and sea water desalination; and material separations for vitamin, antibiotic, plant extractions, dairy products, organic acid, additives, amino acid, and sucrose and molasses. The company also provides industrial waste alkali and acid reuse, oiling agent, indigo dye, mother solution, protein, titanium dioxide, nonferrous metal, and catalyst reuse; high brine salt refining; mercerizing alkali purification; hemicellulose, lignin resource, and acidic water-oriented utilization; high brine fine pre-treatment; and PTA recovery. In addition, the company offers KS customized systems, testing equipment, special membrane, and accessory products. It serves printing and dyeing, chemical, bio-pharmaceutical, viscoses, food, pulping, infrastructure, metal and mining, electronic and new material, and customization industries. keysino separation Technology Inc. was founded in 2011 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Keysino Separation Technology Inc reported revenue of ¥208M in FY2025 versus ¥228M in FY2021, a compound −2.2%/yr. Reported net income was ¥27.2M in FY2025, compounding −13.2%/yr from FY2021.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
208M CNY
Latest YoY
+155.1%
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.
+10.6%
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.
+1.9%
Avg. growth/yr (9Y) 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.
+9.4%
Revenue −2.2%/yr
FY21 ¥228M
FY22 ¥154M
FY23 ¥125M
FY24 ¥81.6M
FY25 ¥208M
Net income −13.2%/yr
FY21 ¥48.1M
FY22 ¥27.4M
FY23 ¥15.6M
FY24 −¥1.6M
FY25 ¥27.2M

300899 screens 75% overvalued. Compare with Waste Management, Inc →

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Cite: Fair Value Calculator (2026). "Keysino Separation Technology Inc Fair Value". https://www.fairvalue-calculator.com/stock/300899

Peer Group

Waste Management · 166 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 59 · Top 25%
Fair Value upside −75% · Bottom 25%
Return on assets -0% · Below median
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) -120% · Bottom 25%
Revenue growth -84% · Bottom 25%
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Waste Management median · lower = cheaper

P/B 0.45× · Cheaper than 75% of peers
P/S (TTM) 1.94× · 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 8
FUTURE 0 · sector 22
PAST 0 · sector 25
HEALTH 100 · sector 81
DIVIDEND 40 · sector 30

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

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $233.33 $128.02 -45%
Republic Services, Inc RSG $219.20 $122.01 -44%
Waste Connections, Inc WCN C$242.43 C$78.67 -68%
Veolia Environnement SA VIE €37.51 €24.50 -35%
Clean Harbors, Inc CLH $303.64 $155.37 -49%
GFL Environmental Inc GFL C$55.40 C$94.12 +70%
Fomento de Construcciones y Contratas, S.A FCC €12.20 €7.30 -40%
GEM Co 002340 ¥6.32 ¥5.27 -17%
Zhejiang Weiming Environment Protection Co 603568 ¥16.18 ¥20.91 +29%
Cleanaway Waste Management Limited CWY A$2.34 A$1.18 -50%

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Frequently asked questions

Is Keysino Separation Technology Inc (300899) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥7.19 versus a price of ¥28.72, about −75% (overvalued).
What is the fair value of 300899?
Our model-based fair value for Keysino Separation Technology Inc is ¥7.19 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥28.72.
What is the quality score of 300899?
Keysino Separation Technology Inc has a Quality Score of 59/100. 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 Keysino Separation Technology Inc (300899)?
Keysino Separation Technology Inc reported trailing-twelve-month revenue of about 146M CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300899?
The net profit margin of Keysino Separation Technology Inc is about -1.8%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Keysino Separation Technology Inc pay a dividend?
Keysino Separation Technology Inc currently shows a dividend yield of about 1.98% 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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