Sanyou Corporation Limited (300932) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Sanyou Corporation Limited stock ¥2.07, price ¥8.09, that is 74.4% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 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 7, 2026.
How to read this chart
60‑month range ¥3.04 – ¥12.33 · fair‑value band ¥1.52 – ¥3.32 · the ¥8.09 price screens above the ¥2.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Sanyou Corporation Limited engages in the research and development, manufacture, and sale of relays and current transformers in China.
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It provides magnetic latching relays, general power relays, high voltage DC relays, new energy relays, photovoltaic relays, automotive relays, plug in choke, and signal relays, as well as inductor products that are used in home appliances, smart meters, industrial control, smart homes, communication facilities, automotive manufacturing, new energy applications, photovoltaic applications, and AI solutions.
The company also offers transformer industry solutions, which includes metering, digital display meter, one-close type, relay protection, motor protection, and residual current transformers. The company was incorporated in 2008 and is headquartered in Dongguan, China.
Stock analysis
Sanyou Corporation Limited (300932) currently trades at ¥8.09, while our model-based Fair Value estimate is ¥2.07, 74% 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 ¥3.31 per share, and 1 of the 25 models we run sit above the ¥8.09 price.
Bear case: the Growth DCF group reads lowest at ¥1.59, and 24 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥1.52 (bear) to ¥3.32 (bull), the price of ¥8.09 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 42/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Sanyou Corporation Limited reported revenue of 2.3B CNY in FY2025 versus 1.7B CNY in FY2021, a compound +8.1%/yr. Reported net income was 72.6M CNY in FY2025, compounding −11.3%/yr from FY2021.
Key figures
Market cap 3.6B CNY (≈ $544M) Small · P/E ratio 32.4 · P/S ratio 1.43 · EPS (TTM) ¥0.2500 · Dividend yield 1.7% · Net margin 4.4% · Return on equity 6.2% · Return on assets (EBIT) 2.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at −74%, 300932 screens richer than that median.
Fair Value models
Bear¥1.52Fair Value ¥2.07Bull¥3.32
Price ¥8.09 · Downside -74.4%
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 (¥0.0974 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.
Best data coverage
Residual Income¥2.83¥2.80¥2.8876
FCF DCF¥0.2900¥0.8500¥1.7174
EPV¥1.13¥1.37¥1.5774
All 25 models by family
DCF Models
FCF DCF¥0.2900¥0.8500¥1.7174
5Y Revenue Exit¥1.04¥2.44¥4.3669
5Y EBITDA Exit¥3.03¥6.50¥10.8972
5Y P/E Exit¥1.22¥2.81¥4.6268
10Y Revenue Exit¥0.6800¥1.84¥3.6562
10Y EBITDA Exit¥1.96¥4.58¥8.6664
10Y P/E Exit¥0.8500¥2.09¥3.8560
Earnings-Based
Graham-Dodd¥1.10¥4.95¥6.7864
Lynch FV¥1.29¥1.84¥2.3961
PEG = 1.0¥1.29¥1.84¥2.3957
EPV¥1.13¥1.37¥1.5774
Dividend Discount
Gordon GGM¥1.15¥2.12¥2.9567
DDM Multi-Stage¥1.15¥1.92¥2.2667
Multiples
P/E Multiple¥2.55¥3.40¥4.2563
P/S Multiple¥2.07¥2.76¥3.4458
P/B Multiple¥12.05¥16.07¥20.0955
EV/EBIT¥2.24¥3.21¥4.1965
EV/EBITDA¥5.00¥6.90¥8.8067
EV/Revenue¥1.40¥2.29¥3.1952
Asset-Based
NCAV (Graham)¥1.79¥2.39¥3.5754
Growth DCF
Growth DCF¥0.2800¥0.7800¥1.5073
Rev-Margin DCF¥1.04¥2.39¥4.1069
Economic Profit
Residual Income¥2.83¥2.80¥2.8876
ROIC Compounder¥1.13¥1.37¥1.5772
Growth Earnings
Growth-Adj P/E¥2.10¥3.00¥3.9067
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.4%
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.
+7.6%
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.
+12.0%
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.
+14.1%
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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.
−15.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.3%
Dividend (yield on the price)1.7%
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.−17.3% vs 1.2%, 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.13% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than 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).
+55.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +53.1% a year for the price.
Compare Sanyou Corporation Limited with another stock
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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.Electrical Equipment & Parts · 564 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside−74.4% · Bottom 25%
Profitability
Return on equity (12 months)6.2% · Below median
Return on assets2.1% · Below median
Net margin (12 months)4.4% · Below median
Operating margin (12 months)9.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)28.1% · Above median
Dividend yield (12 months)1.7% · Above median
Balance sheet
Debt / equity0.30× · Highest 25%
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
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Is Sanyou Corporation Limited (300932) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ¥2.07 versus a price of ¥8.09, about 74% lower (overvalued).
What is the fair value of 300932?
Our model-based fair value for Sanyou Corporation Limited is ¥2.07 (as of Nov 7, 2026), built from audited fundamentals. The current price: ¥8.09.
What is the quality score of 300932?
Sanyou Corporation Limited has a Quality Score of 42/100. 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 Sanyou Corporation Limited (300932)?
Our model-based price target is the fair value of ¥2.07 (as of Nov 7, 2026) from 25 valuation models. Cautious scenario ¥1.52, optimistic scenario ¥3.32. It is a calculation from audited fundamentals, not an analyst target.
What is the Sanyou Corporation Limited stock forecast for 2026?
Our models put fair value at ¥2.07, about 74% lower versus a price of ¥8.09 (overvalued). Cautious scenario ¥1.52, optimistic scenario ¥3.32. The calculation is refreshed regularly with new filings.
What is the revenue of Sanyou Corporation Limited (300932)?
Sanyou Corporation Limited reported trailing-twelve-month revenue of about 2.5B CNY (latest available figure, as of Nov 7, 2026).
Does Sanyou Corporation Limited pay a dividend?
Sanyou Corporation Limited currently shows a dividend yield of 1.68% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Sanyou Corporation Limited (300932) and when is the ex-dividend date?
Sanyou Corporation Limited pays a dividend of ¥0.136 per share a year, a dividend yield of 1.7%. The last ex-dividend date was May 8, 2026. A dividend has been paid every year since at least 2021. The payout ratio is 54.4% of earnings. Free cash flow covers the dividend 0.39 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Sanyou Corporation Limited (300932)?
For today's price to be fair in a discounted-cash-flow model, Sanyou Corporation Limited would have to grow free cash flow by +55.7 % 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 +12.0 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 300932 use?
Our models discount Sanyou Corporation Limited at 10.7 %: a base by market capitalisation (small), damped by beta 0.60, 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 Sanyou Corporation Limited that is +55.7 % 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 Sanyou Corporation Limited (300932) delivered so far?
Over the past 5 years revenue at Sanyou Corporation Limited grew +12.0 % a year. The price currently implies free-cash-flow growth of +55.7 % 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 Sanyou Corporation Limited (300932) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Sanyou Corporation Limited (+55.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sanyou Corporation Limited (300932)?
The free-cash-flow yield on the price is 0.66 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Sanyou Corporation Limited 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 Sanyou Corporation Limited (300932)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sanyou Corporation Limited it is ¥2.07 per share (as of Nov 7, 2026), against a price of ¥8.09. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Sanyou Corporation Limited stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 300932 trades above its calculated fair value: price ¥8.09, fair value ¥2.07, a gap of about −74% (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 300932?
No. The price is what the market pays today (¥8.09); the fair value is what the company's own numbers justify (¥2.07). For Sanyou Corporation Limited the two are ¥6.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sanyou Corporation Limited worth?
The market values Sanyou Corporation Limited at about 3.6B CNY (market capitalisation, as of Nov 7, 2026). Per share that is ¥8.09; our models calculate a fair value of ¥2.07 per share.
What do the bullish and bearish scenarios say about 300932?
Our models span a range for Sanyou Corporation Limited: cautious scenario ¥1.52, base ¥2.07, optimistic ¥3.32 per share (as of Nov 7, 2026, price ¥8.09). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300932?
Sanyou Corporation Limited trades at a price-to-earnings ratio of 32.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥2.07 is built from several models across several years. Other multiples: P/B 2.1, P/S 1.4, EV/EBITDA 13.3.
How solid is the balance sheet of Sanyou Corporation Limited (300932)?
Balance-sheet figures for Sanyou Corporation Limited (as of Nov 7, 2026): return on equity 6.2%, debt of 0.30 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 300932 from its 52-week high?
Sanyou Corporation Limited trades at ¥8.09, about 34% below its 52-week high of ¥12.31 and 7% above the low of ¥7.57 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥2.07 is for.
Which stocks are comparable to Sanyou Corporation Limited?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, 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 Sanyou Corporation Limited stock attractive at the current price?
The data as of Nov 7, 2026: price ¥8.09, calculated fair value ¥2.07 (−74%), Quality Score 42/100, from 25 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 300932 calculated?
We run Sanyou Corporation Limited through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥2.07 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. Sanyou Corporation Limited 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 Sanyou Corporation Limited (300932)?
The closing price on Nov 6, 2026 was ¥8.09. Our model-based fair value is ¥2.07, about 74% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sanyou Corporation Limited right now?
The price sits above even our optimistic bull case (¥3.32). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (¥1.52 to ¥3.32) leaves room in how you read the outcome.
Key figures of Sanyou Corporation Limited
How large is the market capitalisation of Sanyou Corporation Limited (300932)?
The market capitalisation of Sanyou Corporation Limited is 3.6B CNY (≈ $544M). 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 Sanyou Corporation Limited (300932)?
The price-to-sales ratio of Sanyou Corporation Limited is 1.43 (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 Sanyou Corporation Limited (300932)?
Earnings per share at Sanyou Corporation Limited are ¥0.2500 (price ÷ EPS = P/E 32.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sanyou Corporation Limited (300932)?
The dividend yield of Sanyou Corporation Limited is 1.7% (payout 54.4%). 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 Sanyou Corporation Limited (300932)?
The net margin of Sanyou Corporation Limited is 4.4% (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 Sanyou Corporation Limited (300932)?
The return on equity (ROE) of Sanyou Corporation Limited is 6.2% (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 Sanyou Corporation Limited (300932)?
On an EBIT basis the return on assets of Sanyou Corporation Limited is 2.7% (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 Sanyou Corporation Limited (300932)?
The operating margin of Sanyou Corporation Limited is 9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sanyou Corporation Limited (300932)?
Revenue at Sanyou Corporation Limited is growing +28.1% versus a year earlier (3y avg +7.6%). 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 Sanyou Corporation Limited (300932)?
Earnings per share at Sanyou Corporation Limited are growing +148% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sanyou Corporation Limited (300932) carry?
The net debt of Sanyou Corporation Limited is 311M CNY (fiscal year 2025, ≈ 13.0 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 7, 2026