Hengerda New Materials (Fujian) Co. Ltd. (300946) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Hengerda New Materials (Fujian) Co. Ltd. ¥4.96, price ¥36.21, upside -86.3%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 ¥13.98 – ¥64.49 · fair‑value band ¥3.72 – ¥5.64 · the ¥36.21 price screens above the ¥4.96 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Hengerda New Materials (Fujian) Co., Ltd. engages in the research and development, production, and sale of industrial machine tools, metal cutting tools, and core machine elements of the equipment in China and internationally.
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Hengerda New Materials (Fujian) Co., Ltd. engages in the research and development, production, and sale of industrial machine tools, metal cutting tools, and core machine elements of the equipment in China and internationally. It offers die cutting tools, including rule die steel and steel rules; sawing tools comprising bi-metal, carbide, wood working band saw blades, and cermet circular saw blade; and intelligent equipment, such as high-speed band saw, circular saw, profile grinding machine, and machining centers, as well as linear guideways series products. The company was formerly known as Hengda New Materials (Fujian) Co.,Ltd and changed its name to Hengerda New Materials (Fujian) Co., Ltd. in April 2022. Hengerda New Materials (Fujian) Co., Ltd. was founded in 1995 and is based in Putian, China.
Stock analysis
Hengerda New Materials (Fujian) Co. Ltd. (300946) currently trades at ¥36.21, while our model-based Fair Value estimate is ¥4.96, 86.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ¥5.07 per share, and 0 of the 14 models we run sit above the ¥36.21 price.
Bear case: the Earnings-Based group reads lowest at ¥2.65, and 14 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥3.72 (bear) to ¥5.64 (bull), the price of ¥36.21 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 44/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hengerda New Materials (Fujian) Co. Ltd. reported revenue of 661M CNY in FY2025 versus 455M CNY in FY2021, a compound +9.7%/yr. Reported net income was 36.9M CNY in FY2025, compounding −23.5%/yr from FY2021.
Key figures
Market cap 7.4B CNY (≈ $1.1B) · P/E ratio 181.1 · P/S ratio 10.1 · EPS (TTM) ¥0.2000 · Dividend yield 0.7% · Net margin 5.6% · Return on equity 2.6% · Return on assets (EBIT) 7.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 40% 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 −57% fair-value upside, at −86%, 300946 screens richer than that median.
Fair Value models
Bear ¥3.72Fair Value ¥4.96Bull ¥5.64
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. 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.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.
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.53/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+12.9%
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.
+11.0%
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.
+11.7%
Start year 2020 (pandemic)
Revenue growth 6 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.
+9.8%
’19
’20
’21
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’25
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.
−13.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.7%
Dividend (yield on the price)0.7%
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.23% → 11%
Compare Hengerda New Materials (Fujian) Co. Ltd. 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.Metal Fabrication · 252 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside−86.3% · Bottom 25%
Profitability
Return on equity (TTM)2.6% · Below median
Return on assets1.5% · Below median
Net margin (TTM)4.6% · Above median
Operating margin (TTM)12.9% · Top 25%
Growth and dividend
Revenue growth8.7% · Below median
Dividend yield (TTM)0.7% · Below median
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
P/E (TTM)181.1× · Priciest 25%
P/B6.24× · Priciest 25%
P/S (TTM)10.93× · Priciest 25%
EV/EBITDA72.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)44· sector 52
PAST (return on equity)10· sector 21
HEALTH (low debt)97· sector 95
DIVIDEND (yield)13· sector 24
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Hengerda New Materials (Fujian) Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/300946
Frequently asked questions
Is Hengerda New Materials (Fujian) Co. Ltd. (300946) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥4.96 versus a price of ¥36.21, about −86% upside (overvalued).
What is the fair value of 300946?
Our model-based fair value for Hengerda New Materials (Fujian) Co. Ltd. is ¥4.96 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥36.21.
What is the quality score of 300946?
Hengerda New Materials (Fujian) Co. Ltd. has a Quality Score of 44/100. 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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
Our model-based price target is the fair value of ¥4.96 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario ¥3.72, optimistic scenario ¥5.64. It is a calculation from audited fundamentals, not an analyst target.
What is the Hengerda New Materials (Fujian) Co. Ltd. stock forecast for 2026?
Our models put fair value at ¥4.96, about −86% upside versus a price of ¥36.21 (overvalued). Cautious scenario ¥3.72, optimistic scenario ¥5.64. The calculation is refreshed regularly with new filings.
What is the revenue of Hengerda New Materials (Fujian) Co. Ltd. (300946)?
Hengerda New Materials (Fujian) Co. Ltd. reported trailing-twelve-month revenue of about 674M CNY (latest available figure, as of Sep 24, 2026).
Does Hengerda New Materials (Fujian) Co. Ltd. pay a dividend?
Hengerda New Materials (Fujian) Co. Ltd. currently shows a dividend yield of about 0.66% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Hengerda New Materials (Fujian) Co. Ltd. (300946)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hengerda New Materials (Fujian) Co. Ltd. it is ¥4.96 per share (as of Sep 24, 2026), against a price of ¥36.21. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Hengerda New Materials (Fujian) Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 300946 trades above its calculated fair value: price ¥36.21, fair value ¥4.96, a gap of about −86% (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 300946?
No. The price is what the market pays today (¥36.21); the fair value is what the company's own numbers justify (¥4.96). For Hengerda New Materials (Fujian) Co. Ltd. the two are ¥31.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hengerda New Materials (Fujian) Co. Ltd. worth?
The market values Hengerda New Materials (Fujian) Co. Ltd. at about 7.4B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥36.21; our models calculate a fair value of ¥4.96 per share.
What do the bullish and bearish scenarios say about 300946?
Our models span a range for Hengerda New Materials (Fujian) Co. Ltd.: cautious scenario ¥3.72, base ¥4.96, optimistic ¥5.64 per share (as of Sep 24, 2026, price ¥36.21). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300946?
Hengerda New Materials (Fujian) Co. Ltd. trades at a price-to-earnings ratio of 181.1 (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 ¥4.96 is built from several models across several years. Other multiples: P/B 6.2, P/S 10.9, EV/EBITDA 72.6.
How solid is the balance sheet of Hengerda New Materials (Fujian) Co. Ltd. (300946)?
Balance-sheet figures for Hengerda New Materials (Fujian) Co. Ltd. (as of Sep 24, 2026): return on equity 2.6%, debt of 0.07 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 300946 from its 52-week high?
Hengerda New Materials (Fujian) Co. Ltd. trades at ¥36.21, about 40% below its 52-week high of ¥60.41 and 7% above the low of ¥33.92 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥4.96 is for.
Which stocks are comparable to Hengerda New Materials (Fujian) Co. Ltd.?
From the same area (Industrials) we also value ATI Inc, Carpenter Technology Corporation, Mueller Industries, Inc, Bharat Forge Limited, 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 Hengerda New Materials (Fujian) Co. Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price ¥36.21, calculated fair value ¥4.96 (−86%), Quality Score 44/100, 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 300946 calculated?
We run Hengerda New Materials (Fujian) 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 ¥4.96, 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 14.5 % above its aggregate fair value. Hengerda New Materials (Fujian) 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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
The closing price on Sep 30, 2026 was ¥36.21. Our model-based fair value is ¥4.96, about −86% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hengerda New Materials (Fujian) Co. Ltd. right now?
The price sits above even our optimistic bull case (¥5.64). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Hengerda New Materials (Fujian) Co. Ltd.
How large is the market capitalisation of Hengerda New Materials (Fujian) Co. Ltd. (300946)?
The market capitalisation of Hengerda New Materials (Fujian) Co. Ltd. is 7.4B CNY (≈ $1.1B). 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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
The price-to-sales ratio of Hengerda New Materials (Fujian) Co. Ltd. is 10.1 (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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
Earnings per share at Hengerda New Materials (Fujian) Co. Ltd. are ¥0.2000 (price ÷ EPS = P/E 181.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hengerda New Materials (Fujian) Co. Ltd. (300946)?
The dividend yield of Hengerda New Materials (Fujian) Co. Ltd. is 0.7% (payout 120%). 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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
The net margin of Hengerda New Materials (Fujian) Co. Ltd. is 5.6% (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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
The return on equity (ROE) of Hengerda New Materials (Fujian) Co. Ltd. is 2.6% (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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
On an EBIT basis the return on assets of Hengerda New Materials (Fujian) Co. Ltd. is 7.1% (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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
The operating margin of Hengerda New Materials (Fujian) Co. Ltd. is 12.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hengerda New Materials (Fujian) Co. Ltd. (300946)?
Revenue at Hengerda New Materials (Fujian) Co. Ltd. is growing +8.7% versus a year earlier (3y avg +11.0%). 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 Hengerda New Materials (Fujian) Co. Ltd. (300946)?
Earnings per share at Hengerda New Materials (Fujian) Co. Ltd. are growing −30.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hengerda New Materials (Fujian) Co. Ltd. (300946) generate?
The free cash flow of Hengerda New Materials (Fujian) Co. Ltd. is −4.3M 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 debt does Hengerda New Materials (Fujian) Co. Ltd. (300946) carry?
The net debt of Hengerda New Materials (Fujian) Co. Ltd. is 103M CNY (fiscal year 2025). 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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