Sany Heavy Industry Co Ltd (600031) fair value: what the stock is really worth
We calculate from audited financials what Sany Heavy Industry Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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A solid business, currently priced close to our fair value of ¥20.84.
As of Aug 28, 2026, the fair value of Sany Heavy Industry Co Ltd is ¥20.84 per share against a price of ¥19.97, so the fair value sits 4% above the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y −2.2 %/yr)
!Thin margins · 9.1% net margin
✓Low debt · generates free cash flow
·2.45% dividend yield
✓Ranks above peers (10/15)
!Moderate moat 49/100
Evidence: HighRange ¥15.63 to ¥26.04
Fair value as of: Aug 28, 2026
From 26 valuation models · updated 12 days ago
Share price +2.0% over the past month.
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What matters now
The price sits close to our fair value, market and models broadly agree here, little valuation tension.
The price sits in the lower half of our model range, the side with the larger margin of safety.
The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.
How to read this chart
60‑month range ¥12.70 – ¥34.93 · fair‑value band ¥15.63 – ¥26.04 · the ¥19.97 price screens below the ¥20.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.
Sany Heavy Industry Co Ltd (600031) currently trades at ¥19.97, while our model-based Fair Value estimate is ¥20.84, implying the stock looks roughly 4.2% fairly valued today. The Quality Score stands at 59/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of ¥35.02 per share, and 17 of the 26 models we run sit above the ¥19.97 price. Bear case: the Asset-Based group reads lowest at ¥6.98, and 9 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Sany Heavy Industry Co Ltd generated revenue of 92.7B CNY at a net margin of 9.1%. Revenue grew 14.0% year over year. It earns a return on equity of 10.2%. Net debt stands at 1.2B CNY. Fundamentals as of Aug 28, 2026
Scenario range: ¥15.63 (bear) to ¥26.04 (bull), the price of ¥19.97 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 18% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −18% fair-value upside, at 4%, 600031 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥0.3245 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio19.4as of Jul 18, 2026
P/S ratio1.82P/E × margin
EPS (TTM)¥0.9600price ÷ EPS = P/E 19.4
Dividend yield2.5%payout 51.0%
Net margin9.4%FY2025
Return on equity10.2%TTM
More key figures
Profitability
Return on assets (EBIT)5.5%avg 5y
Operating margin13.2%TTM
Growth
Revenue (TTM)92.7B CNYTTM
Revenue growth (YoY)+14.0%3y avg +3.5%
EPS growth (YoY)−7.1%
Balance sheet & cash flow
Free cash flow17.2B CNYFY2025
Net debt1.2B CNYFY2024 · ≈ 0.1 yrs of FCF
Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality59/100
Of which business quality 62
· Market factors (momentum, volatility) 45
Profitability37
Margins and returns on capital today
Quality Growth58
Are margins and returns improving?
Cashflow86
Earnings quality: real cash, not paper profit
Fin. Strength82
Balance sheet, leverage, solvency risk
Investment75
Disciplined investing over empire-building
Low Volatility69
Calm price path (market factor)
Momentum35
Price trend over the last 3–12 months (market factor)
52W Momentum36
Distance to the 52-week high (market factor)
Net Issuance27
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Sany Heavy Industry Co.,Ltd engages in the research and development, manufacture, and sale of construction machinery in Chinese mainland and internationally. It operates through six segments: Concrete Machinery, Excavating Machinery, Hoisting Machinery, Piling Machinery, Road Machinery, and Financial Services.
Full company description
Sany Heavy Industry Co.,Ltd engages in the research and development, manufacture, and sale of construction machinery in Chinese mainland and internationally. It operates through six segments: Concrete Machinery, Excavating Machinery, Hoisting Machinery, Piling Machinery, Road Machinery, and Financial Services. The company offers concrete pump trucks, concrete delivery pumps, and wall grabs; truck mounted concrete, trailer, and line pump, as well as placing boom, truck mixer, and batching plant; and excavator, such as mini, small, medium, large, long-reach, and wheel excavators. It also provides truck, all-terrain, rough-terrain, truck-mounted, crawler, tower, and loader cranes; roller, motor grader, paver, milling machine, and asphalt batching plant machineries; and dump truck. In addition, the company offers rotary drilling rig, hydraulic grab, and trench cutter; water tower, foam, aerial platform, and water mist fire trucks; and construction machinery product loans, finance lease, and interbank lending and borrowing among financial institutions. Further, it provides maintenance services; and MySANY, a mobile app for SANY Group customers. Additionally, the company manufactures and sells pile drivers. Sany Heavy Industry Co.,Ltd was founded in 1994 and is headquartered in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Sany Heavy Industry Co Ltd reported revenue of 89.7B CNY in FY2025 versus 107B CNY in FY2021, a compound −4.3%/yr. Reported net income was 8.4B CNY in FY2025, compounding −8.6%/yr from FY2021.
Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
89.7B CNY
Latest YoY
+14.4%
Avg. revenue 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.
+3.5%
Avg. revenue 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.
−2.2%
Avg. revenue growth/yr (25Y) ⓘ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.
+24.3%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ −6.0%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−8.5%
Dividend yield2.5%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −8.5% vs 10Y 42.4%, flattening
Operating margin (EBIT) ⓘ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.18.5% (2020) → 12.4% (2025) · falling
Worst earnings drop100% (2015) · in CNY
⚠ Final year 2025 sits 71% above trend (one-off), rate approximate
Revenue−4.3%/yr
FY21107B CNY
FY2280.8B CNY
FY2374.0B CNY
FY2478.4B CNY
FY2589.7B CNY
Net income−8.6%/yr
FY2112.0B CNY
FY224.3B CNY
FY234.5B CNY
FY246.0B CNY
FY258.4B CNY
Character of growth · EPS growth decomposed (2013-2024)+15.3 % p.a.
Revenue per share+9.4 %
of which total revenue +11.0 % · buybacks/dilution −1.4 %
EBIT margin+6.2 %
Tax rate+0.2 %
Residual (interest, one-offs)−1.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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). "Sany Heavy Industry Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600031
Peer Group
Farm & Heavy Construction Machinery · 148 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.
Valuation
Quality Score59 · Above median
Fair Value upside+4% · Above median
Profitability
Return on equity (TTM)10% · Above median
Return on assets4% · Above median
Net margin (TTM)9% · Above median
Operating margin (TTM)13% · Top 25%
Growth and dividend
Revenue growth14% · Above median
Dividend yield (TTM)2.5% · Above median
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper
P/E (TTM)19.4× · Pricier than median
P/B1.94× · Pricier than median
P/S (TTM)1.85× · Priciest 25%
P/FCF1.5× · Cheaper than median
EV/EBITDA10.7× · Pricier than median
PEG2.01× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Sany Heavy Industry Co Ltd deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
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.
This stockSector peers
VALUE39· sector 11
FUTURE70· sector 27
PAST41· sector 31
HEALTH96· sector 93
DIVIDEND49· sector 38
Insider activity: 30/100
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
Similar stocks
10 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).
Is Sany Heavy Industry Co Ltd (600031) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of ¥20.84 versus a price of ¥19.97, about +4% upside (fairly valued).
What is the fair value of 600031?
Our model-based fair value for Sany Heavy Industry Co Ltd is ¥20.84 (as of Aug 28, 2026), built from audited fundamentals. The current price: ¥19.97.
What is the quality score of 600031?
Sany Heavy Industry Co Ltd has a Quality Score of 59/100. 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 Sany Heavy Industry Co Ltd (600031)?
Our model-based price target is the fair value of ¥20.84 (as of Aug 28, 2026) from 26 valuation models. Cautious scenario ¥15.63, optimistic scenario ¥26.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Sany Heavy Industry Co Ltd stock forecast for 2026?
Our models put fair value at ¥20.84, about +4% upside versus a price of ¥19.97 (fairly valued). Cautious scenario ¥15.63, optimistic scenario ¥26.04. The calculation is refreshed regularly with new filings.
What is the revenue of Sany Heavy Industry Co Ltd (600031)?
Sany Heavy Industry Co Ltd reported trailing-twelve-month revenue of about 92.7B CNY (latest available figure, as of Aug 28, 2026).
What is the net profit margin of 600031?
The net profit margin of Sany Heavy Industry Co Ltd is about 9.1%, meaning it keeps roughly 9.1% of revenue as net income. Based on the latest reported figures.
Does Sany Heavy Industry Co Ltd pay a dividend?
Sany Heavy Industry Co Ltd currently shows a dividend yield of about 2.45% relative to its recent price (as of Aug 28, 2026).
What growth is priced into Sany Heavy Industry Co Ltd (600031)?
For today's price to be fair in a discounted-cash-flow model, Sany Heavy Industry Co Ltd would have to grow free cash flow by -2.4 % per year for ten years (discount rate 9.4 %, then 2 % perpetual growth). Over the last 5 years revenue grew -2.2 % per year. As of Aug 28, 2026.
What discount rate (WACC) does the fair value of 600031 use?
Our models discount Sany Heavy Industry Co Ltd at 9.4 %: a base by market capitalisation (large), damped by beta 0.79, country premium for China. The same rate applies in all 26 models.
What is the intrinsic value of Sany Heavy Industry Co Ltd (600031)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sany Heavy Industry Co Ltd it is ¥20.84 per share (as of Aug 28, 2026), against a price of ¥19.97. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Sany Heavy Industry Co Ltd stock overvalued or undervalued in 2026?
As of Aug 28, 2026, 600031 trades below its calculated fair value: price ¥19.97, fair value ¥20.84, a gap of about +4% (fairly valued). 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 600031?
No. The price is what the market pays today (¥19.97); the fair value is what the company's own numbers justify (¥20.84). For Sany Heavy Industry Co Ltd the two are ¥0.8700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sany Heavy Industry Co Ltd worth?
The market values Sany Heavy Industry Co Ltd at about 171B CNY (market capitalisation, as of Aug 28, 2026). Per share that is ¥19.97; our models calculate a fair value of ¥20.84 per share.
What do the bullish and bearish scenarios say about 600031?
Our models span a range for Sany Heavy Industry Co Ltd: cautious scenario ¥15.63, base ¥20.84, optimistic ¥26.04 per share (as of Aug 28, 2026, price ¥19.97). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600031?
Sany Heavy Industry Co Ltd trades at a price-to-earnings ratio of 19.4 (as of Aug 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥20.84 is built from several models across several years. Other multiples: PEG 2.0, P/B 1.9, P/S 1.9, EV/EBITDA 10.7.
What is the PEG ratio of 600031?
The PEG ratio of Sany Heavy Industry Co Ltd is 2.01 (P/E divided by earnings growth, as of Aug 28, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Sany Heavy Industry Co Ltd (600031)?
Balance-sheet figures for Sany Heavy Industry Co Ltd (as of Aug 28, 2026): return on equity 10.2%, debt of 0.09 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 600031 from its 52-week high?
Sany Heavy Industry Co Ltd trades at ¥19.97, about 18% below its 52-week high of ¥24.29 and 15% above the low of ¥17.32 (as of Aug 28, 2026). Distance from the high says nothing about value: that is what the fair value of ¥20.84 is for.
Which stocks are comparable to Sany Heavy Industry Co Ltd?
From the same area (Industrials) we also value Caterpillar Inc, Deere & Company, AB Volvo (publ),, PACCAR Inc, 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 Sany Heavy Industry Co Ltd stock attractive at the current price?
The data as of Aug 28, 2026: price ¥19.97, calculated fair value ¥20.84 (+4%), Quality Score 59/100, from 26 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 600031 calculated?
We run Sany Heavy Industry Co Ltd through 26 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 ¥20.84, with the spread shown as a cautious and an optimistic scenario.
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