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Shanghai Menon Animal Nutrition Technology Co (301156) Fair Value & Analysis

Consumer Defensive · CN · Market cap 2.2B CNY

SM Shanghai Menon Animal Nutrition Technology Co 301156 · SHE
Price¥11.57
Fair Value¥4.83
Upside-58.3%
Quality47/100
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Expensive Growth
Thin margins · 9.6% net margin
Low debt · negative free cash flow
1.90% dividend yield
Mixed vs. peers (6/13)
Moderate moat 48/100
Evidence: Medium Range ¥3.37 – ¥6.27 Share as image

Fair value as of: Jul 9, 2026

From 14 valuation models · updated 32 days ago

Share price +6.1% over the past month.

Below-average quality, and screening another 58% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥6.27). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥3.37 to ¥6.27) leaves room in how you read the outcome.
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Price vs Fair Value (4 years)

¥23.31 ¥5.56 Fair Value ¥4.83 Jun 2022 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

50‑month range ¥5.56 – ¥23.31 · fair‑value band ¥3.37 – ¥6.27 · the ¥11.57 price screens above the ¥4.83 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Shanghai Menon Animal Nutrition Technology Co (301156) currently trades at ¥11.57, while our model-based Fair Value estimate is ¥4.83, implying the stock looks roughly 58.3% overvalued today. The Quality Score stands at 47/100 (below-average 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, Shanghai Menon Animal Nutrition Technology Co generated revenue of 620M CNY at a net margin of 9.6%. Revenue grew 59.3% year over year. It earns a return on equity of 8.0%. The balance sheet holds a net cash position of 260M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥3.37 (bear case) to ¥6.27 (bull case); at ¥11.57, 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 29% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -58%, 301156 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 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 ¥3.23 ¥3.41 ¥3.68 76
ROIC Compounder ¥3.79 ¥4.37 ¥5.21 72
Growth-Adj P/E ¥3.97 ¥5.68 ¥7.38 68
All 14 models by family
Earnings-Based
Graham-Dodd ¥2.04 ¥6.68 ¥8.93 54
Lynch FV ¥1.50 ¥2.14 ¥2.79 50
PEG = 1.0 ¥1.50 ¥2.14 ¥2.79 46
EPV ¥3.79 ¥4.22 ¥4.60 59
Multiples
P/E Multiple ¥4.72 ¥6.29 ¥7.86 63
P/S Multiple ¥3.68 ¥4.91 ¥6.13 58
P/B Multiple ¥3.82 ¥5.09 ¥6.36 55
EV/EBIT ¥5.34 ¥6.77 ¥8.21 53
EV/EBITDA ¥5.76 ¥7.34 ¥8.92 54
EV/Revenue ¥4.10 ¥5.42 ¥6.74 43
Asset-Based
NCAV (Graham) ¥1.99 ¥2.67 ¥3.99 50
Economic Profit
Residual Income ¥3.23 ¥3.41 ¥3.68 76
ROIC Compounder ¥3.79 ¥4.37 ¥5.21 72
Growth Earnings
Growth-Adj P/E ¥3.97 ¥5.68 ¥7.38 68

Widest divergence: Growth Earnings (¥5.68) versus Earnings-Based (¥2.14). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 620M CNY
Revenue growth (YoY) +59.3%
Net margin 9.6%
Return on equity 8.0%
Free cash flow −51.4M CNY FY2025
P/E ratio 37.8
More key figures
Operating margin 13.8%
EPS (TTM) ¥0.3200
Dividend yield 1.9%
EPS growth (YoY) +51.6%
Net cash 260M CNY FY2024

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

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 32

Profitability 43
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 0
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

Shanghai Menon Animal Nutrition Technology Co., Ltd. engages in the research and development, production, and sale of feed additives and enzymatic protein feed raw materials in China. It offers food attractants, sweeteners, acidulants, plant extracts, sodium butyrate, butyric acid glyceride, emulsifiers, small peptides, etc.

Full company description

Shanghai Menon Animal Nutrition Technology Co., Ltd. engages in the research and development, production, and sale of feed additives and enzymatic protein feed raw materials in China. It offers food attractants, sweeteners, acidulants, plant extracts, sodium butyrate, butyric acid glyceride, emulsifiers, small peptides, etc. The company also provides fragrance, acidity regulator, flavoring agents, slow-release nitrogen sources, rumen-bypass amino acids, rumen-pass vitamins, and mineral elements, as well as enzymatic hydrolysis of vegetable protein. Its products are used in animal breeding fields such as pigs, ruminants, poultry, and aquatic products. The company also exports its products to Asia, Europe, North America, South America, Africa, Oceania, and internationally. Shanghai Menon Animal Nutrition Technology Co., Ltd. was founded in 1997 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Menon Animal Nutrition Technology Co reported revenue of ¥561M in FY2025 versus ¥546M in FY2021, a compound +0.7%/yr. Reported net income was ¥54.8M in FY2025, compounding −6.1%/yr from FY2021.

Growth Quality 33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
561M CNY
Latest YoY
+14.6%
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.
+5.1%
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.
+5.9%
Avg. growth/yr (7Y) 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.
+11.3%
Revenue +0.7%/yr
FY21 ¥546M
FY22 ¥483M
FY23 ¥504M
FY24 ¥490M
FY25 ¥561M
Net income −6.1%/yr
FY21 ¥70.6M
FY22 ¥52.5M
FY23 ¥63.0M
FY24 ¥49.6M
FY25 ¥54.8M

301156 screens 58% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Shanghai Menon Animal Nutrition Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/301156

Peer Group

Packaged Foods · 649 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 47 · Below median
Fair Value upside −58% · Bottom 25%
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 59% · Top 25%
Dividend yield (TTM) 1.9% · Below median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 37.8× · Pricier than 75% of peers
P/B 3.04× · Pricier than 75% of peers
P/S (TTM) 3.57× · Pricier than 75% of peers
EV/EBITDA 21.5× · Pricier than 75% of peers

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 28
FUTURE 100 · sector 20
PAST 32 · sector 27
HEALTH 100 · sector 96
DIVIDEND 38 · sector 47

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Shanghai Menon Animal Nutrition Technology Co (301156) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥4.83 versus a price of ¥11.57, about −58% (overvalued).
What is the fair value of 301156?
Our model-based fair value for Shanghai Menon Animal Nutrition Technology Co is ¥4.83 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥11.57.
What is the quality score of 301156?
Shanghai Menon Animal Nutrition Technology Co has a Quality Score of 47/100. 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 Shanghai Menon Animal Nutrition Technology Co (301156)?
Shanghai Menon Animal Nutrition Technology Co reported trailing-twelve-month revenue of about 620M CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 301156?
The net profit margin of Shanghai Menon Animal Nutrition Technology Co is about 9.6%, meaning it keeps roughly 9.6% of revenue as net income. Based on the latest reported figures.
Does Shanghai Menon Animal Nutrition Technology Co pay a dividend?
Shanghai Menon Animal Nutrition Technology Co currently shows a dividend yield of about 1.90% 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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