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United Testing Inspection And Certification Technology Co (301115) Fair Value & Analysis

Industrials · CN · Market cap 6.2B CNY

UT United Testing Inspection And Certification Technology Co 301115 · SHE
Price¥30.15
Fair Value¥16.56
Upside-45.1%
Quality49/100
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Expensive Growth
Loss-making · -1.1% net margin
Low debt · negative free cash flow
0.36% dividend yield
Trails peers (3/12)
Narrow moat 15/100
Evidence: Medium Range ¥12.45 – ¥20.73 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated today

Fair value updated Aug 13, 2026, revised from ¥2.46 to ¥16.56 (+573.2%) since Jul 9, 2026. Share price +5.9% over the past month.

Below-average quality, and screening another 45% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥20.73). The favourable scenario is already priced in.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (4 years)

¥35.27 ¥11.42 Fair Value ¥16.56 Aug 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

47‑month range ¥11.42 – ¥35.27 · fair‑value band ¥12.45 – ¥20.73 · the ¥30.15 price screens above the ¥16.56 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

United Testing Inspection And Certification Technology Co (301115) currently trades at ¥30.15, while our model-based Fair Value estimate is ¥16.56, implying the stock looks roughly 45.1% overvalued today. The Quality Score stands at 49/100 (below-average 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: medium).

Over the trailing twelve months, United Testing Inspection And Certification Technology Co generated revenue of 1.4B CNY at a net margin of -1.1%. Revenue declined 10.0% year over year. It earns a return on equity of 0.7%. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥12.45 (bear case) to ¥20.73 (bull case); at ¥30.15, 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 14% below its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at -45%, 301115 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥0.7900 to ¥14.93). Read the values as a conservative anchor, not as a price target.
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 ¥9.16 ¥8.42 ¥5.94 76
ROIC Compounder ¥5.21 ¥5.72 ¥6.16 72
Growth-Adj P/E ¥1.54 ¥2.19 ¥2.85 68
All 14 models by family
Earnings-Based
Graham-Dodd ¥0.8000 ¥2.52 ¥3.36 54
Lynch FV ¥0.5500 ¥0.7900 ¥1.03 50
PEG = 1.0 ¥0.5500 ¥0.7900 ¥1.03 46
EPV ¥5.21 ¥5.72 ¥6.16 59
Multiples
P/E Multiple ¥1.85 ¥2.46 ¥3.08 63
P/S Multiple ¥1.50 ¥1.99 ¥2.49 58
P/B Multiple ¥1.50 ¥1.99 ¥2.49 55
EV/EBIT ¥7.70 ¥9.60 ¥11.50 53
EV/EBITDA ¥11.69 ¥14.93 ¥18.16 54
EV/Revenue ¥6.07 ¥7.81 ¥9.56 43
Asset-Based
NCAV (Graham) ¥6.85 ¥9.18 ¥13.70 50
Economic Profit
Residual Income ¥9.16 ¥8.42 ¥5.94 76
ROIC Compounder ¥5.21 ¥5.72 ¥6.16 72
Growth Earnings
Growth-Adj P/E ¥1.54 ¥2.19 ¥2.85 68

Widest divergence: Asset-Based (¥9.18) versus Earnings-Based (¥0.7900). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.4B CNY
Revenue growth (YoY) -10.0%
Net margin -1.1%
Return on equity 0.7%
Free cash flow −102M CNY FY2025
Operating margin -15.5%
More key figures
EPS (TTM) ¥-0.0900
Dividend yield 0.4%
EPS growth (YoY) +275%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 51 · Market factors (momentum, volatility) 72

Profitability 20
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)
Net Issuance 83
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

United Testing Inspection And Certification Technology Co., Ltd. provides inspection, testing, and certification services in China and internationally. It operates in four segments: Inspection and Testing Services, Special Engineering Professional Services, New Engineering Materials Sales, and City Security.

Full company description

United Testing Inspection And Certification Technology Co., Ltd. provides inspection, testing, and certification services in China and internationally. It operates in four segments: Inspection and Testing Services, Special Engineering Professional Services, New Engineering Materials Sales, and City Security. The company offers testing and identification, including engineering quality inspection and professional non-destructive, transportation, and environmental testing; specialized construction, such as specialized construction projects, foundation engineering, and building maintenance; and green building materials comprising concrete admixtures, building energy-saving insulation systems, materials for high-speed rail, dry-mixed mortars, and functional materials, as well as environmentally friendly wear-resistant flooring systems, rigid self-waterproofing systems, and GMT anti-abrasion mortars. It also provides consulting and design, which include geotechnical engineering design and consulting, green building technology consulting, and specialized technical solutions; and product certification, such as public documents. In addition, the company offers anti-slip projects for floor and ceramic tiles in public areas; non-knock-off repair methods for leaking bathroom and shower floor tiles; reflective heat-insulating coatings for sunrooms, glass rooms, and others; and exterior wall waterproofing materials. It serves new energy, carbon emissions, environment, auto parts, electronics and electrical appliances, construction engineering, special equipment, urban safety, IT, and food and agricultural, industrial, and consumer products industries. The company was formerly known as Changzhou Architectural Research Institute Group Co.,Ltd and changed its name to United Testing Inspection And Certification Technology Co., Ltd. in April 2025. United Testing Inspection And Certification Technology Co., Ltd. was founded in 1959 and is based in Changzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

United Testing Inspection And Certification Technology Co reported revenue of ¥1.4B in FY2025 versus ¥1.1B in FY2021, a compound +6.5%/yr. Reported net income was ¥21.5M in FY2025, compounding −39.6%/yr from FY2021.

Growth Quality 47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.4B CNY
Latest YoY
+4.3%
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.
+7.0%
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.
+9.3%
Avg. growth/yr (6Y) 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%
Revenue +6.5%/yr
FY21 ¥1.1B
FY22 ¥1.2B
FY23 ¥1.4B
FY24 ¥1.4B
FY25 ¥1.4B
Net income −39.6%/yr
FY21 ¥162M
FY22 ¥163M
FY23 ¥101M
FY24 ¥16.5M
FY25 ¥21.5M

301115 screens 45% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "United Testing Inspection And Certification Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/301115

Peer Group

Engineering & Construction · 839 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 49 · Below median
Fair Value upside −45% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) -15% · Bottom 25%
Revenue growth -10% · Below median
Dividend yield (TTM) 0.4% · Below median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.37× · Cheaper than 75% of peers
P/S (TTM) 0.66× · Pricier than median
EV/EBITDA 7.4× · Cheaper 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 14
FUTURE 0 · sector 14
PAST 3 · sector 26
HEALTH 100 · sector 94
DIVIDEND 7 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 45,400 KRW 43,924 KRW -3%

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Frequently asked questions

Is United Testing Inspection And Certification Technology Co (301115) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥16.56 versus a price of ¥30.15, about −45% (overvalued).
What is the fair value of 301115?
Our model-based fair value for United Testing Inspection And Certification Technology Co is ¥16.56 (as of Aug 13, 2026), built from audited fundamentals. The current price is ¥30.15.
What is the quality score of 301115?
United Testing Inspection And Certification Technology Co has a Quality Score of 49/100. 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 United Testing Inspection And Certification Technology Co (301115)?
United Testing Inspection And Certification Technology Co reported trailing-twelve-month revenue of about 1.4B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 301115?
The net profit margin of United Testing Inspection And Certification Technology Co is about -1.1%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does United Testing Inspection And Certification Technology Co pay a dividend?
United Testing Inspection And Certification Technology Co currently shows a dividend yield of about 0.36% relative to its recent price (as of Aug 13, 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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