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Jutal Offshore Oil Services Limited (3303) Fair Value & Analysis

Energy · HK · Market cap HK$1.2B

JO Jutal Offshore Oil Services Limited 3303 · HK
PriceHK$0.4400
Fair ValueHK$0.2975
Upside-32.4%
Quality23/100
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Weak Growth
Thin margins · 5.7% net margin
Low debt · negative free cash flow
2.55% dividend yield
Mixed vs. peers (6/14)
Narrow moat 17/100
Evidence: High Range HK$0.2295 – HK$0.3740 Share as image

Fair value as of: Aug 5, 2026

From 16 valuation models · updated 6 days ago

Share price −3.3% over the past month.

Below-average quality, and screening another 32% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.3740). The favourable scenario is already priced in.
  • Weak quality (23/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

HK$1.21 HK$0.3364 Fair Value HK$0.2975 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

60‑month range HK$0.3364 – HK$1.21 · fair‑value band HK$0.2295 – HK$0.3740 · the HK$0.4400 price screens above the HK$0.2975 fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Jutal Offshore Oil Services Limited (3303) currently trades at HK$0.4400, while our model-based Fair Value estimate is HK$0.2975, implying the stock looks roughly 32.4% overvalued today. The Quality Score stands at 23/100 (below-average quality), in the Energy 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: high).

Over the trailing twelve months, Jutal Offshore Oil Services Limited generated revenue of HK$800M at a net margin of 5.7%. Revenue declined 53.2% year over year. It earns a return on equity of 2.1%. The balance sheet holds a net cash position of HK$522M. Fundamentals as of Aug 5, 2026

Our scenario range runs from HK$0.2295 (bear case) to HK$0.3740 (bull case); at HK$0.4400, 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 30% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -32%, 3303 screens cheaper 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 HK$0.5900 HK$0.5500 HK$0.4000 76
ROIC Compounder HK$0.3400 HK$0.3600 HK$0.3700 72
Gordon GGM HK$0.0900 HK$0.1500 HK$0.2100 70
All 16 models by family
Earnings-Based
Graham-Dodd HK$0.1200 HK$0.4000 HK$0.5300 54
Lynch FV HK$0.0900 HK$0.1300 HK$0.1700 50
PEG = 1.0 HK$0.0900 HK$0.1300 HK$0.1700 46
EPV HK$0.3400 HK$0.3600 HK$0.3700 59
Dividend Discount
Gordon GGM HK$0.0900 HK$0.1500 HK$0.2100 70
DDM Multi-Stage HK$0.0900 HK$0.1400 HK$0.1700 61
Multiples
P/E Multiple HK$0.1900 HK$0.2500 HK$0.3100 63
P/S Multiple HK$0.2300 HK$0.3000 HK$0.3800 58
P/B Multiple HK$0.2300 HK$0.3000 HK$0.3800 55
EV/EBIT HK$0.3500 HK$0.3800 HK$0.4200 53
EV/EBITDA HK$0.5100 HK$0.5900 HK$0.6800 54
EV/Revenue HK$0.3700 HK$0.4200 HK$0.4800 43
Asset-Based
NCAV (Graham) HK$0.4400 HK$0.5900 HK$0.8800 50
Economic Profit
Residual Income HK$0.5900 HK$0.5500 HK$0.4000 76
ROIC Compounder HK$0.3400 HK$0.3600 HK$0.3700 72
Growth Earnings
Growth-Adj P/E HK$0.1700 HK$0.2400 HK$0.3100 68

Widest divergence: Asset-Based (HK$0.5900) versus Earnings-Based (HK$0.1300). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$800M
Revenue growth (YoY) -53.2%
Net margin 5.7%
Return on equity 2.1%
Free cash flow −HK$236M FY2025
P/E ratio 25.0
More key figures
Operating margin -4.1%
EPS (TTM) HK$0.0300
Dividend yield 2.6%
EPS growth (YoY) -70.0%
Net cash HK$522M FY2025

Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 23/100

Of which business quality 27 · Market factors (momentum, volatility) 35

Profitability 20
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 9
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

Jutal Offshore Oil Services Limited, an investment holding company, engages in the fabrication of facilities and provision of integrated services for oil and gas, new energy, and refining and chemical industries.

Full company description

Jutal Offshore Oil Services Limited, an investment holding company, engages in the fabrication of facilities and provision of integrated services for oil and gas, new energy, and refining and chemical industries. The company constructs large-scale modules, such as onshore LNG modules, modular plants, offshore platforms, and FPSO/FLNG modules; and provides shop design, material procurement, structural prefabrication, machining, painting, assembly, mechanical equipment installation, pre-commissioning, and load-out and transportation services. It also undertakes projects in oil and gas process modules, petrochemical equipment, and undersea business; and ship repair and construction services, including painting, electrical installation and commissioning, hull assembly, construction, and renovation and maintenance of offshore platform services. In addition, the company designs and manufactures production equipment for natural gas purification and treatment, oilfield produced water treatment, and sludge purification; and hazardous waste collection, storage, utilization, and disposal services. Further, it is involved in the new energy equipment construction and other businesses. Additionally, the company engages in trading of biofuel products; provision of technical support services for shipbuilding industry; quayside machineries and chemical engineering facilities; design, fabrication, installation, and repair of steel formation structures; and provision of other quayside and warehouse services. It operates in the People's Republic of China, the United States, Singapore, France, the United Arab Emirates, Brazil, and internationally. Jutal Offshore Oil Services Limited was founded in 1995 and is headquartered in Shenzhen, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jutal Offshore Oil Services Limited reported revenue of HK$779M in FY2025 versus HK$4.0B in FY2021, a compound −33.5%/yr. Reported net income was HK$44.7M in FY2025, compounding +41.9%/yr from FY2021.

Growth Quality 8/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$779M
Latest YoY
−62.5%
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.
−23.7%
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.
−26.6%
Avg. growth/yr (22Y) 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.
+7.9%
Revenue −33.5%/yr
FY21 HK$4.0B
FY22 HK$1.8B
FY23 HK$2.6B
FY24 HK$2.1B
FY25 HK$779M
Net income +41.9%/yr
FY21 HK$11.0M
FY22 −HK$208M
FY23 HK$255M
FY24 HK$185M
FY25 HK$44.7M
Character of growth · EPS growth decomposed (2014-2025) +8.5 % p.a.
Revenue per share −1.8 pp

of which total revenue +8.9 pp · buybacks/dilution −10.8 pp

EBIT margin +11.9 pp
Tax rate −0.2 pp
Residual (interest, one-offs) −1.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

3303 screens 32% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "Jutal Offshore Oil Services Limited Fair Value". https://www.fairvalue-calculator.com/stock/3303

Peer Group

Oil & Gas Equipment & Services · 191 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 23 · Bottom 25%
Fair Value upside −32% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) -4% · Bottom 25%
Revenue growth -53% · Bottom 25%
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/E (TTM) 25.0× · Pricier than median
P/B 0.57× · Cheaper than 75% of peers
P/S (TTM) 1.56× · Pricier than median
EV/EBITDA 4.4× · Cheaper than 75% of peers
PEG 0.78× · 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 0
FUTURE 0 · sector 0
PAST 8 · sector 28
HEALTH 97 · sector 92
DIVIDEND 51 · sector 31

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.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 533.97 MXN -36%
Baker Hughes Company BKR $55.95 $33.55 -40%
TechnipFMC plc FTI $74.57 $27.57 -63%
Halliburton Company HAL $35.22 $21.50 -39%
Tenaris S.A TS $57.16 $45.68 -20%
Yantai Jereh Oilfield Services Group 002353 ¥138.79 ¥34.17 -75%
Saipem SpA SPM €4.20 €2.72 -35%
Subsea 7 S.A SUBC kr 319.00 kr 227.98 -29%
China Oilfield Services Limited 601808 ¥12.08 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €188.10 €95.01 -49%

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Frequently asked questions

Is Jutal Offshore Oil Services Limited (3303) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of HK$0.2975 versus a price of HK$0.4400, about −32% (overvalued).
What is the fair value of 3303?
Our model-based fair value for Jutal Offshore Oil Services Limited is HK$0.2975 (as of Aug 5, 2026), built from audited fundamentals. The current price is HK$0.4400.
What is the quality score of 3303?
Jutal Offshore Oil Services Limited has a Quality Score of 23/100. 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 Jutal Offshore Oil Services Limited (3303)?
Jutal Offshore Oil Services Limited reported trailing-twelve-month revenue of about HK$800M (latest available figure, as of Aug 5, 2026).
What is the net profit margin of 3303?
The net profit margin of Jutal Offshore Oil Services Limited is about 5.7%, meaning it keeps roughly 5.7% of revenue as net income. Based on the latest reported figures.
Does Jutal Offshore Oil Services Limited pay a dividend?
Jutal Offshore Oil Services Limited currently shows a dividend yield of about 2.55% relative to its recent price (as of Aug 5, 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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