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Fujian Wanchen Food Group (300972) Fair Value & Analysis

Consumer Defensive · CN · Market cap 37.8B CNY

FW Fujian Wanchen Food Group 300972 · SHE
Price¥202.33
Fair Value¥143.09
Upside-29.3%
Quality60/100
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Healthy Growth
Thin margins · 3.1% net margin
Moderate debt · generates free cash flow
0.55% dividend yield
Mixed vs. peers (6/14)
Moderate moat 54/100
Evidence: Medium Range ¥107.32 – ¥405.52 Share as image

Fair value as of: Jul 9, 2026

From 24 valuation models · updated 32 days ago

Share price +3.1% over the past month.

A solid business, but screening 29% overvalued on our models.

What matters now

  • The model range is unusually wide (¥107.32 to ¥405.52). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥232.89 ¥10.23 Fair Value ¥143.09 Apr 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 ¥10.23 – ¥232.89 · fair‑value band ¥107.32 – ¥405.52 · the ¥202.33 price screens above the ¥143.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Fujian Wanchen Food Group (300972) currently trades at ¥202.33, while our model-based Fair Value estimate is ¥143.09, implying the stock looks roughly 29.3% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Defensive 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: medium).

Over the trailing twelve months, Fujian Wanchen Food Group generated revenue of 57.3B CNY at a net margin of 3.1%. Revenue grew 53.7% year over year. It earns a return on equity of 114.0%. Net debt stands at 144M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥107.32 (bear case) to ¥405.52 (bull case); at ¥202.33, the current price sits within 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 16% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 102% fair-value upside, at -29%, 300972 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥304.20 ¥584.99 ¥1,045 80
Residual Income ¥47.45 ¥83.21 ¥2,312 76
Rev-Margin DCF ¥246.40 ¥416.62 ¥773.57 74
All 24 models by family
DCF Models
FCF DCF ¥322.22 ¥496.07 ¥1,050 38
Owner Earnings ¥140.73 ¥295.90 ¥621.65 31
5Y Revenue Exit ¥225.50 ¥366.46 ¥660.66 39
5Y EBITDA Exit ¥235.28 ¥386.23 ¥681.67 41
5Y P/E Exit ¥183.12 ¥340.82 ¥548.07 38
10Y Revenue Exit ¥250.42 ¥503.90 ¥657.87 36
10Y EBITDA Exit ¥264.48 ¥524.95 ¥966.02 37
10Y P/E Exit ¥226.42 ¥412.63 ¥700.95 35
Earnings-Based
Graham-Dodd ¥46.33 ¥323.13 ¥453.46 54
Lynch FV ¥166.94 ¥238.48 ¥310.03 50
PEG = 1.0 ¥166.94 ¥238.48 ¥310.03 46
EPV ¥145.21 ¥166.23 ¥184.63 59
Multiples
P/E Multiple ¥107.32 ¥143.09 ¥178.86 63
P/S Multiple ¥86.88 ¥115.84 ¥144.79 58
P/B Multiple ¥31.01 ¥41.34 ¥51.68 55
EV/EBIT ¥232.82 ¥304.06 ¥375.31 53
EV/EBITDA ¥195.47 ¥254.27 ¥313.06 54
EV/Revenue ¥171.64 ¥237.01 ¥302.39 43
Asset-Based
NCAV (Graham) ¥3.76 ¥5.04 ¥7.52 50
Growth DCF
Growth DCF ¥304.20 ¥584.99 ¥1,045 80
Rev-Margin DCF ¥246.40 ¥416.62 ¥773.57 74
Economic Profit
Residual Income ¥47.45 ¥83.21 ¥2,312 76
ROIC Compounder ¥145.21 ¥166.23 ¥184.63 72
Growth Earnings
Growth-Adj P/E ¥218.36 ¥311.94 ¥405.52 68

Widest divergence: Growth DCF (¥416.62) versus Asset-Based (¥5.04). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 57.3B CNY
Revenue growth (YoY) +53.7%
Net margin 3.1%
Return on equity 114%
Free cash flow 3.6B CNY FY2025
P/E ratio 21.7
More key figures
Operating margin 7.1%
EPS (TTM) ¥8.81
Dividend yield 0.6%
EPS growth (YoY) +191%
Net debt 144M CNY FY2022

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 63 · Market factors (momentum, volatility) 52

Profitability 80
Margins and returns on capital today
Quality Growth 83
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 19
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

Fujian Wanchen Food Group Co., Ltd., together with its subsidiaries, engages in the research, development, cultivation, production, and sale of edible fungi in China and internationally. The company provides white and golden enoki, crab, white jade, deer antler, seafood, oyster, and other mushrooms products.

Full company description

Fujian Wanchen Food Group Co., Ltd., together with its subsidiaries, engages in the research, development, cultivation, production, and sale of edible fungi in China and internationally. The company provides white and golden enoki, crab, white jade, deer antler, seafood, oyster, and other mushrooms products. It is also involved in breeding and fruit testing to produce new variants of edible fungi. The company sells its products through supermarket chains, restaurants, and online food platforms. It exports its products. The company was formerly known as Fujian Wanchen Biotechnology Group Co.,Ltd. and changed its name to Fujian Wanchen Food Group Co., Ltd. in January 2026. Fujian Wanchen Food Group Co., Ltd. was founded in 2011 and is headquartered in Zhangpu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fujian Wanchen Food Group reported revenue of ¥51.5B in FY2025 versus ¥435M in FY2021, a compound +229.9%/yr. Reported net income was ¥1.3B in FY2025, compounding +175.2%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
51.5B CNY
Latest YoY
+59.2%
Avg. growth/yr (3Y)
+354.2%
Avg. growth/yr (5Y)
+158.0%
Avg. growth/yr (6Y)
+120.2%
Revenue +229.9%/yr
FY21 ¥435M
FY22 ¥549M
FY23 ¥9.3B
FY24 ¥32.3B
FY25 ¥51.5B
Net income +175.2%/yr
FY21 ¥23.4M
FY22 ¥47.7M
FY23 −¥82.9M
FY24 ¥294M
FY25 ¥1.3B

300972 screens 29% overvalued. Compare with Muyuan Foods Group →

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Cite: Fair Value Calculator (2026). "Fujian Wanchen Food Group Fair Value". https://www.fairvalue-calculator.com/stock/300972

Peer Group

Farm Products · 291 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 60 · Above median
Fair Value upside −29% · Below median
Return on equity (TTM) 114% · Top 25%
Return on assets 27% · Top 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 54% · Top 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.66× · Higher than 75% of peers

Valuation Multiples vs Farm Products median · lower = cheaper

P/E (TTM) 21.7× · Pricier than median
P/B 25.49× · Pricier than 75% of peers
P/S (TTM) 0.66× · Pricier than median
P/FCF 1.6× · Cheaper than median
EV/EBITDA 8.7× · 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 26
FUTURE 100 · sector 21
PAST 100 · sector 17
HEALTH 67 · sector 94
DIVIDEND 11 · sector 38

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

Stock Price Fair Value vs Fair Value
Muyuan Foods Group 002714 ¥40.90 ¥48.19 +18%
Wens Foodstuff Group 300498 ¥14.51 ¥12.08 -17%
Mowi ASA MOWI kr 188.40 kr 262.59 +39%
PT Charoen Pokphand Indonesia Tbk, CPIN 3,120 IDR 7,076 IDR +127%
Charoen Pokphand Foods Public Company CPF 22.00 THB 55.71 THB +153%
PT Triputra Agro Persada Tbk TAPG 1,540 IDR 3,105 IDR +102%
PT FAP Agri Tbk FAPA 7,300 IDR 7,463 IDR +2%
PT Japfa Comfeed Indonesia Tbk JPFA 2,070 IDR 7,231 IDR +249%
Thaifoods Group TFGR 10.60 THB 23.53 THB +122%
PT Jhonlin Agro Raya Tbk JARR 1,845 IDR 610.80 IDR -67%

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Frequently asked questions

Is Fujian Wanchen Food Group (300972) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥143.09 versus a price of ¥202.33, about −29% (overvalued).
What is the fair value of 300972?
Our model-based fair value for Fujian Wanchen Food Group is ¥143.09 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥202.33.
What is the quality score of 300972?
Fujian Wanchen Food Group has a Quality Score of 60/100. 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 Fujian Wanchen Food Group (300972)?
Fujian Wanchen Food Group reported trailing-twelve-month revenue of about 57.3B CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300972?
The net profit margin of Fujian Wanchen Food Group is about 3.1%, meaning it keeps roughly 3.1% of revenue as net income. Based on the latest reported figures.
Does Fujian Wanchen Food Group pay a dividend?
Fujian Wanchen Food Group currently shows a dividend yield of about 0.55% 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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