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Yeal Electric Co.Ltd (300923) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Yeal Electric Co.Ltd ¥7.43, price ¥24.14, upside -69.2%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Industrials · CN · ISIN CNE100004B04

YE Broad data Sep 24, 2026

Yeal Electric Co.Ltd

300923 · SHE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value ¥7.43 · Strongly overvalued (−69%)
!Quality 52/100
!Expensive Growth (revenue 5y +5.9 %/yr)
!Thin margins · 7.0% net margin (TTM)
!negative free cash flow
·1.86% dividend yield
!Trails peers (0/12)
!Narrow moat 27/100
!Weak on past: 11 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥33.55 ¥11.08 Fair Value ¥7.43 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ¥11.08 – ¥33.55 · fair‑value band ¥5.20 – ¥7.43 · the ¥24.14 price screens above the ¥7.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Yeal Electric Co., Ltd. engages in the research and development, production, and sales of rail vehicle electrical equipment, which are used in urban rail vehicles.

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Yeal Electric Co., Ltd. engages in the research and development, production, and sales of rail vehicle electrical equipment, which are used in urban rail vehicles. Its products include driver console, driver's cab electrical control cabinet, passenger compartment electrical control cabinet, lighting control system, logic control unit, battery management system, low-voltage electrical appliance monitoring system, emergency ventilation inverter box, high and low-voltage junction box, on-board battery box, on-board air purification equipment, vehicle electrical wiring harness, and other rail vehicle electrical equipment. It provides maintenance of electrical equipment for EMUs and high-speed rail vehicles, lighting fixtures, and electrical equipment for urban rail vehicles. The company was founded in 1986 and is based in Changchun, China.

Stock analysis

Yeal Electric Co.Ltd (300923) currently trades at ¥24.14, while our model-based Fair Value estimate is ¥7.43, implying the stock looks roughly 224.9% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of ¥9.75 per share, and 0 of the 14 models we run sit above the ¥24.14 price.

Bear case: the Earnings-Based group reads lowest at ¥5.34, and 14 of the 14 models stay below the price. Evidence for this calculation is high.

Scenario range: ¥5.20 (bear) to ¥7.43 (bull), the price of ¥24.14 sits above 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 52/100 (solid quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Yeal Electric Co.Ltd reported revenue of 464M CNY in FY2025 versus 409M CNY in FY2021, a compound +3.2%/yr. Reported net income was 34.6M CNY in FY2025, compounding −17.7%/yr from FY2021.

Key figures

Market cap 1.9B CNY (≈ $283M) · P/E ratio 60.4 · P/S ratio 4.50 · EPS (TTM) ¥0.4000 · Dividend yield 1.9% · Net margin 7.5% · Return on equity 2.8% · Return on assets (EBIT) 4.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 18% below its 52-week high and 31% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at −69%, 300923 screens richer than that median.

Fair Value models

Bear ¥5.20 Fair Value ¥7.43 Bull ¥7.43
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.
Highest evidence
Residual Income ¥9.46 ¥8.81 ¥6.45 76
Owner Earnings ¥5.74 ¥7.12 ¥8.70 75
EPV ¥4.87 ¥5.34 ¥5.72 70
All 14 models by family
DCF Models
Owner Earnings ¥5.74 ¥7.12 ¥8.70 75
Earnings-Based
Graham-Dodd ¥2.99 ¥6.80 ¥8.70 65
PEG = 1.0 ¥1.12 ¥1.60 ¥2.08 57
EPV ¥4.87 ¥5.34 ¥5.72 70
Multiples
P/E Multiple ¥6.94 ¥9.25 ¥11.56 63
P/S Multiple ¥5.62 ¥7.49 ¥9.36 58
P/B Multiple ¥5.62 ¥7.49 ¥9.36 55
EV/EBIT ¥8.70 ¥11.27 ¥13.84 63
EV/EBITDA ¥8.93 ¥11.58 ¥14.23 64
EV/Revenue ¥6.49 ¥8.85 ¥11.21 51
Asset-Based
NCAV (Graham) ¥7.27 ¥9.75 ¥14.55 51
Economic Profit
Residual Income ¥9.46 ¥8.81 ¥6.45 76
ROIC Compounder ¥4.87 ¥5.34 ¥5.72 70
Growth Earnings
Growth-Adj P/E ¥5.20 ¥7.43 ¥9.65 67

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Quality Score breakdown

Overall quality 52/100

Of which business quality 50 · Market factors (momentum, volatility) 49

Profitability 25
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 79
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

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. 33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−1.5%
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.
+3.2%
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.
+5.9%
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.
+3.1%
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.
−12.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.8%
Dividend (yield on the price)1.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−15% vs −10%, slowing
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.19% → 10%
Start year 2020 (pandemic)

300923 screens 225% overvalued. Compare with Union Pacific Corporation →

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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.Railroads · 115 stocks

Beats the industry median on 0/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside −69% · Bottom 25%
Profitability
Return on equity (TTM) 3% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 7% · Below median
Operating margin (TTM) 2% · Bottom 25%
Growth and dividend
Revenue growth −10% · Bottom 25%
Dividend yield (TTM) 1.9% · Below median

Valuation Multiplesvs Railroads median · lower = cheaper

P/E (TTM) 60.4× · Priciest 25%
P/B 1.66× · Pricier than median
P/S (TTM) 4.17× · Priciest 25%
EV/EBITDA 40.2× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 20
FUTURE (revenue growth)0 · sector 21
PAST (return on equity)11 · sector 31
HEALTH (low debt)0 · sector 88
DIVIDEND (yield)37 · sector 44

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Railroads stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $274.07 $153.47 −44%
CSX Corporation CSX $47.19 $12.85 −73%
Canadian Pacific Kansas City Limited CP $88.28 $37.64 −57%
Norfolk Southern Corporation NSC $315.01 $133.01 −58%
Canadian National Railway Company CNI $119.49 $98.68 −17%
Westinghouse Air Brake Technologies Corporation WAB $289.71 $289.60 +0%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.71 ¥5.65 +20%
CRRC Corporation 601766 ¥5.98 ¥9.53 +59%
Daqin Railway Co 601006 ¥4.71 ¥5.48 +16%
Hyundai Rotem Company 064350 115,900 KRW 127,490 KRW +10%

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Yeal Electric Co.Ltd · Fair Value
¥7.43 −225%Fair Value
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Cite: Fair Value Calculator (2026). "Yeal Electric Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/300923

Frequently asked questions

Is Yeal Electric Co.Ltd (300923) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥7.43 versus a price of ¥24.14, about −69% upside (overvalued).
What is the fair value of 300923?
Our model-based fair value for Yeal Electric Co.Ltd is ¥7.43 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥24.14.
What is the quality score of 300923?
Yeal Electric Co.Ltd has a Quality Score of 52/100. 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 Yeal Electric Co.Ltd (300923)?
Our model-based price target is the fair value of ¥7.43 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario ¥5.20, optimistic scenario ¥7.43. It is a calculation from audited fundamentals, not an analyst target.
What is the Yeal Electric Co.Ltd stock forecast for 2026?
Our models put fair value at ¥7.43, about −69% upside versus a price of ¥24.14 (overvalued). Cautious scenario ¥5.20, optimistic scenario ¥7.43. The calculation is refreshed regularly with new filings.
What is the revenue of Yeal Electric Co.Ltd (300923)?
Yeal Electric Co.Ltd reported trailing-twelve-month revenue of about 455M CNY (latest available figure, as of Sep 24, 2026).
Does Yeal Electric Co.Ltd pay a dividend?
Yeal Electric Co.Ltd currently shows a dividend yield of about 1.86% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Yeal Electric Co.Ltd (300923)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yeal Electric Co.Ltd it is ¥7.43 per share (as of Sep 24, 2026), against a price of ¥24.14. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Yeal Electric Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 300923 trades above its calculated fair value: price ¥24.14, fair value ¥7.43, a gap of about −69% (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 300923?
No. The price is what the market pays today (¥24.14); the fair value is what the company's own numbers justify (¥7.43). For Yeal Electric Co.Ltd the two are ¥16.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Yeal Electric Co.Ltd worth?
The market values Yeal Electric Co.Ltd at about 1.9B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥24.14; our models calculate a fair value of ¥7.43 per share.
What do the bullish and bearish scenarios say about 300923?
Our models span a range for Yeal Electric Co.Ltd: cautious scenario ¥5.20, base ¥7.43, optimistic ¥7.43 per share (as of Sep 24, 2026, price ¥24.14). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300923?
Yeal Electric Co.Ltd trades at a price-to-earnings ratio of 60.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥7.43 is built from several models across several years. Other multiples: P/B 1.7, P/S 4.2, EV/EBITDA 40.2.
How solid is the balance sheet of Yeal Electric Co.Ltd (300923)?
Balance-sheet figures for Yeal Electric Co.Ltd (as of Sep 24, 2026): return on equity 2.8%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 300923 from its 52-week high?
Yeal Electric Co.Ltd trades at ¥24.14, about 18% below its 52-week high of ¥29.38 and 31% above the low of ¥18.38 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥7.43 is for.
Which stocks are comparable to Yeal Electric Co.Ltd?
From the same area (Industrials) we also value Union Pacific Corporation, CSX Corporation, Canadian Pacific Kansas City Limited, Norfolk Southern Corporation, 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 Yeal Electric Co.Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥24.14, calculated fair value ¥7.43 (−69%), Quality Score 52/100, from 14 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 300923 calculated?
We run Yeal Electric Co.Ltd through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥7.43, 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 14.0 % above its aggregate fair value. Yeal Electric Co.Ltd 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 Yeal Electric Co.Ltd (300923)?
The closing price on Sep 24, 2026 was ¥24.14. Our model-based fair value is ¥7.43, about −69% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Yeal Electric Co.Ltd right now?
The price sits above even our optimistic bull case (¥7.43). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Yeal Electric Co.Ltd

How large is the market capitalisation of Yeal Electric Co.Ltd (300923)?
The market capitalisation of Yeal Electric Co.Ltd is 1.9B CNY (≈ $283M). 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 Yeal Electric Co.Ltd (300923)?
The price-to-sales ratio of Yeal Electric Co.Ltd is 4.50 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Yeal Electric Co.Ltd (300923)?
Earnings per share at Yeal Electric Co.Ltd are ¥0.4000 (price ÷ EPS = P/E 60.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Yeal Electric Co.Ltd (300923)?
The dividend yield of Yeal Electric Co.Ltd is 1.9% (payout 113%). 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 Yeal Electric Co.Ltd (300923)?
The net margin of Yeal Electric Co.Ltd is 7.5% (fiscal year 2025). 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 Yeal Electric Co.Ltd (300923)?
The return on equity (ROE) of Yeal Electric Co.Ltd is 2.8% (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 Yeal Electric Co.Ltd (300923)?
On an EBIT basis the return on assets of Yeal Electric Co.Ltd is 4.4% (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 Yeal Electric Co.Ltd (300923)?
The operating margin of Yeal Electric Co.Ltd is 2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Yeal Electric Co.Ltd (300923)?
Revenue at Yeal Electric Co.Ltd is growing −10.3% versus a year earlier (3y avg +3.2%). 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 Yeal Electric Co.Ltd (300923)?
Earnings per share at Yeal Electric Co.Ltd are growing −66.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Yeal Electric Co.Ltd (300923) generate?
The free cash flow of Yeal Electric Co.Ltd is −33.4M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Yeal Electric Co.Ltd (300923) hold?
Yeal Electric Co.Ltd holds more cash than debt, 155M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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