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Nanjing Gaoke Company (600064) Fair Value & Analysis

Real Estate · CN · Market cap 13.5B CNY

NG Nanjing Gaoke Company 600064 · SHG
Price¥7.64
Fair Value¥10.76
Upside+40.8%
Quality63/100
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Mixed Growth
Highly profitable · 59.6% net margin
Low debt · generates free cash flow
4.10% dividend yield
Mixed vs. peers (8/14)
Narrow moat 43/100
Evidence: High Range ¥9.63 – ¥16.05 Share as image

Fair value as of: Aug 6, 2026

From 16 valuation models · updated 4 days ago

Fair value updated Aug 6, 2026, revised from ¥11.18 to ¥10.76 (−3.8%) since Jul 25, 2026. Share price +3.4% over the past month.

A solid business, screening 41% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥9.63). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

¥9.22 ¥4.95 Fair Value ¥10.76 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range ¥4.95 – ¥9.22 · fair‑value band ¥9.63 – ¥16.05 · the ¥7.64 price screens below the ¥10.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Nanjing Gaoke Company (600064) currently trades at ¥7.64, while our model-based Fair Value estimate is ¥10.76, implying the stock looks roughly 40.8% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Nanjing Gaoke Company generated revenue of 3.0B CNY at a net margin of 59.6%. Revenue declined 42.8% year over year. It earns a return on equity of 8.1%. Net debt stands at 7.3B CNY. Fundamentals as of Aug 6, 2026

Our scenario range runs from ¥9.63 (bear case) to ¥16.05 (bull case); at ¥7.64, the current price sits below 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 19% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 41%, 600064 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥4.71 ¥7.77 ¥12.18 80
Residual Income ¥9.61 ¥10.61 ¥15.28 76
Rev-Margin DCF ¥1.77 ¥3.11 ¥4.70 74
All 16 models by family
DCF Models
FCF DCF ¥4.61 ¥8.08 ¥13.42 38
5Y Revenue Exit ¥1.77 ¥3.03 ¥4.57 39
5Y EBITDA Exit ¥2.52 ¥4.44 ¥6.64 41
10Y Revenue Exit ¥2.68 ¥4.09 ¥5.84 36
10Y EBITDA Exit ¥3.22 ¥5.07 ¥7.43 37
Dividend Discount
Gordon GGM ¥4.02 ¥8.35 ¥13.25 70
DDM Multi-Stage ¥4.02 ¥6.71 ¥8.77 61
Multiples
P/S Multiple ¥9.63 ¥12.84 ¥16.05 58
P/B Multiple ¥13.49 ¥17.98 ¥22.48 55
EV/EBIT ¥1.83 ¥2.94 ¥4.05 53
EV/EBITDA ¥1.76 ¥2.84 ¥3.93 54
EV/Revenue ¥0.3400 ¥1.13 ¥1.91 43
Asset-Based
NCAV (Graham) ¥5.52 ¥7.40 ¥11.04 50
Growth DCF
Growth DCF ¥4.71 ¥7.77 ¥12.18 80
Rev-Margin DCF ¥1.77 ¥3.11 ¥4.70 74
Economic Profit
Residual Income ¥9.61 ¥10.61 ¥15.28 76

Widest divergence: Economic Profit (¥10.61) versus Multiples (¥2.94). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.0B CNY
Revenue growth (YoY) -42.8%
Net margin 59.6%
Return on equity 8.1%
Free cash flow 925M CNY FY2025
P/E ratio 7.3
More key figures
Operating margin 10.3%
EPS (TTM) ¥1.02
Dividend yield 4.4%
EPS growth (YoY) -9.5%
Net debt 7.3B CNY FY2025

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 47

Profitability 38
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 82
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

Nanjing Gaoke Company Limited, together with its subsidiaries, engages in the development of real estate properties in China.

Full company description

Nanjing Gaoke Company Limited, together with its subsidiaries, engages in the development of real estate properties in China. The company designs and develops mid-to-high-end commercial housing, municipal, and landscape projects; provides sewage treatment and tap water supply services; and grants loans to technology-based small and medium-sized enterprises, as well as provides financing guarantees. It also involves in the industrial investment, venture capital, securities investment, investment management and consulting, and other investment activities; and provision of financing services for small and medium-sized technology companies, and start-up businesses. In addition, the company engages in the production and sale of various Chinese and Western medicine preparations, as well as provision of medical and health care consulting and services. The company was formerly known as Nanjing Xingang High-Tech Co., Ltd and changed its name to Nanjing Gaoke Company Limited in January 2013. The company was founded in 1992 and is based in Nanjing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Nanjing Gaoke Company reported revenue of ¥3.4B in FY2025 versus ¥4.9B in FY2021, a compound −8.8%/yr. Reported net income was ¥1.8B in FY2025, compounding −6.1%/yr from FY2021.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.4B CNY
Latest YoY
+72.6%
Avg. growth/yr (3Y)
−8.7%
Avg. growth/yr (5Y)
+3.2%
Avg. growth/yr (31Y)
+12.6%
Revenue −8.8%/yr
FY21 ¥4.9B
FY22 ¥4.5B
FY23 ¥4.7B
FY24 ¥2.0B
FY25 ¥3.4B
Net income −6.1%/yr
FY21 ¥2.4B
FY22 ¥2.4B
FY23 ¥1.6B
FY24 ¥1.7B
FY25 ¥1.8B

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Cite: Fair Value Calculator (2026). "Nanjing Gaoke Company Fair Value". https://www.fairvalue-calculator.com/stock/600064

Peer Group

Real Estate - Development · 588 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 64 · Top 25%
Fair Value upside +41% · Above median
Return on equity (TTM) 8% · Above median
Return on assets -1% · Bottom 25%
Net margin (TTM) 60% · Top 25%
Operating margin (TTM) 10% · Above median
Revenue growth -43% · Bottom 25%
Dividend yield (TTM) 4.1% · Above median
Debt / equity 0.21× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 7.8× · Cheaper than median
P/B 0.71× · Pricier than median
P/S (TTM) 4.55× · Pricier than 75% of peers
P/FCF 2.2× · Pricier than median
EV/EBITDA 36.8× · 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 88 · sector 48
FUTURE 0 · sector 0
PAST 32 · sector 10
HEALTH 90 · sector 84
DIVIDEND 82 · sector 38

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Nanjing Gaoke Company (600064) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of ¥10.76 versus a price of ¥7.64, about +41% (undervalued).
What is the fair value of 600064?
Our model-based fair value for Nanjing Gaoke Company is ¥10.76 (as of Aug 6, 2026), built from audited fundamentals. The current price is ¥7.64.
What is the quality score of 600064?
Nanjing Gaoke Company has a Quality Score of 63/100. 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 Nanjing Gaoke Company (600064)?
Nanjing Gaoke Company reported trailing-twelve-month revenue of about 3.0B CNY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 600064?
The net profit margin of Nanjing Gaoke Company is about 59.6%, meaning it keeps roughly 59.6% of revenue as net income. Based on the latest reported figures.
Does Nanjing Gaoke Company pay a dividend?
Nanjing Gaoke Company currently shows a dividend yield of about 4.40% relative to its recent price (as of Aug 6, 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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