Zhengzhou Yutong Bus Co Ltd (600066) fair value: what the stock is really worth
We calculate from audited financials what Zhengzhou Yutong Bus 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.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range ¥6.31 – ¥38.25 · fair‑value band ¥24.18 – ¥56.60 · the ¥26.01 price screens below the ¥42.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Yutong Bus Co.,Ltd., together with its subsidiaries, manufactures and sells buses in China and internationally. It operates through Bus Manufacturing, Foreign Trade, and Other segments. The company offers e-buses, e-coaches, city buses, coaches, vans, airport buses, public security and emergency response vehicles, and medical vehicles.
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Yutong Bus Co.,Ltd., together with its subsidiaries, manufactures and sells buses in China and internationally. It operates through Bus Manufacturing, Foreign Trade, and Other segments. The company offers e-buses, e-coaches, city buses, coaches, vans, airport buses, public security and emergency response vehicles, and medical vehicles. It also provides various e-solutions, including electric vehicle, service package, integrated new energy, sustainable mobility, integrated urban, and tournament solutions; charging station planning and construction services; online troubleshooting services, including on-site support with real-time monitoring and proactive diagnostics; and diversified training services, including on-site, centralized, theoretical, hands-on, and online training. In addition, the company offers service contracts and networks; automobile repair; and intercity and country-level scheduled tourist passenger transport services. Further, it is involved in the manufacture and sale of automotive parts and automotive air conditioners; asset operation and investment management; technology development and consulting; import and export trade; and enterprise management services. The company exports its products to approximately 100 countries and regions. The company was formerly known as Zhengzhou Yutong Bus Co., Ltd. and changed its name to Yutong Bus Co.,Ltd. in May 2021. Yutong Bus Co.,Ltd. was founded in 1963 and is headquartered in Zhengzhou, China.
Stock analysis
Zhengzhou Yutong Bus Co Ltd (600066) currently trades at ¥26.01, while our model-based Fair Value estimate is ¥42.00, implying the stock looks roughly 38.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥52.42 per share, and 23 of the 26 models we run sit above the ¥26.01 price.
Bear case: the Asset-Based group reads lowest at ¥4.72, and 3 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥24.18 (bear) to ¥56.60 (bull), the price of ¥26.01 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 79/100 (high quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zhengzhou Yutong Bus Co Ltd reported revenue of 41.4B CNY in FY2025 versus 23.2B CNY in FY2021, a compound +15.6%/yr. Reported net income was 5.6B CNY in FY2025, compounding +73.4%/yr from FY2021.
Key figures
Market cap 70.9B CNY (≈ $10.6B) · P/E ratio 10.5 · P/S ratio 1.41 · EPS (TTM) ¥2.47 · Dividend yield 9.6% · Net margin 13.4% · Return on equity 35.7% · Return on assets (EBIT) 8.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 4% fair-value upside, at 61%, 600066 screens cheaper than that median.
Fair Value models
Bear ¥24.18Fair Value ¥42.00Bull ¥56.60
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+23.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.8%
Revenue growth 31 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+20.2%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+81.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+72.0%
Dividend (yield on the price)9.6%
Pace: 5 vs 10 years ⓘ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.55% vs 5%, picking up
Profit margin 2020 to 2025 ⓘ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.1% → 14%
2025 sits 206% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.3%
Yearly growth needed for the next five years to justify today's price.
Compare Zhengzhou Yutong Bus Co Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Farm & Heavy Construction Machinery · 152 stocks
Beats the industry median on 11/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score79 · Top 25%
Fair Value upside+46% · Top 25%
Profitability
Return on equity (TTM)36% · Top 25%
Return on assets11% · Top 25%
Net margin (TTM)13% · Top 25%
Operating margin (TTM)14% · Top 25%
Growth and dividend
Revenue growth−8% · Bottom 25%
Dividend yield (TTM)9.6% · Top 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Farm & Heavy Construction Machinery median · lower = cheaper
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). "Zhengzhou Yutong Bus Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600066
Frequently asked questions
Is Zhengzhou Yutong Bus Co Ltd (600066) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of ¥42.00 versus a price of ¥26.01, about +61% upside (undervalued).
What is the fair value of 600066?
Our model-based fair value for Zhengzhou Yutong Bus Co Ltd is ¥42.00 (as of Sep 18, 2026), built from audited fundamentals. The current price: ¥26.01.
What is the quality score of 600066?
Zhengzhou Yutong Bus Co Ltd has a Quality Score of 79/100. 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 Zhengzhou Yutong Bus Co Ltd (600066)?
Our model-based price target is the fair value of ¥42.00 (as of Sep 18, 2026) from 26 valuation models. Cautious scenario ¥24.18, optimistic scenario ¥56.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Zhengzhou Yutong Bus Co Ltd stock forecast for 2026?
Our models put fair value at ¥42.00, about +61% upside versus a price of ¥26.01 (undervalued). Cautious scenario ¥24.18, optimistic scenario ¥56.60. The calculation is refreshed regularly with new filings.
What is the revenue of Zhengzhou Yutong Bus Co Ltd (600066)?
Zhengzhou Yutong Bus Co Ltd reported trailing-twelve-month revenue of about 40.9B CNY (latest available figure, as of Sep 18, 2026).
Does Zhengzhou Yutong Bus Co Ltd pay a dividend?
Zhengzhou Yutong Bus Co Ltd currently shows a dividend yield of about 9.61% relative to its recent price (as of Sep 18, 2026).
What growth is priced into Zhengzhou Yutong Bus Co Ltd (600066)?
For today's price to be fair in a discounted-cash-flow model, Zhengzhou Yutong Bus Co Ltd would have to grow free cash flow by +6.3 % per year for five years (discount rate 8.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.8 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of 600066 use?
Our models discount Zhengzhou Yutong Bus Co Ltd at 8.7 %: a base by market capitalisation (large), damped by beta 0.24, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Zhengzhou Yutong Bus Co Ltd that is +6.3 % per year a year over ten years, using the same discount rate (8.7 %) and the same formula as our fair value.
How much growth has Zhengzhou Yutong Bus Co Ltd (600066) delivered so far?
Over the past 5 years revenue at Zhengzhou Yutong Bus Co Ltd grew +13.8 % a year. The price currently implies +6.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Zhengzhou Yutong Bus Co Ltd (600066) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Zhengzhou Yutong Bus Co Ltd (+6.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zhengzhou Yutong Bus Co Ltd (600066)?
The free-cash-flow yield on the price is 4.28 %: that much free cash flow Zhengzhou Yutong Bus Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zhengzhou Yutong Bus Co Ltd (600066)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zhengzhou Yutong Bus Co Ltd it is ¥42.00 per share (as of Sep 18, 2026), against a price of ¥26.01. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Zhengzhou Yutong Bus Co Ltd stock overvalued or undervalued in 2026?
As of Sep 18, 2026, 600066 trades below its calculated fair value: price ¥26.01, fair value ¥42.00, a gap of about +61% (undervalued). 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 600066?
No. The price is what the market pays today (¥26.01); the fair value is what the company's own numbers justify (¥42.00). For Zhengzhou Yutong Bus Co Ltd the two are ¥15.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zhengzhou Yutong Bus Co Ltd worth?
The market values Zhengzhou Yutong Bus Co Ltd at about 70.9B CNY (market capitalisation, as of Sep 18, 2026). Per share that is ¥26.01; our models calculate a fair value of ¥42.00 per share.
What do the bullish and bearish scenarios say about 600066?
Our models span a range for Zhengzhou Yutong Bus Co Ltd: cautious scenario ¥24.18, base ¥42.00, optimistic ¥56.60 per share (as of Sep 18, 2026, price ¥26.01). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600066?
Zhengzhou Yutong Bus Co Ltd trades at a price-to-earnings ratio of 10.5 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥42.00 is built from several models across several years. Other multiples: PEG 0.4, P/B 4.6, P/S 1.7, EV/EBITDA 10.5.
What is the PEG ratio of 600066?
The PEG ratio of Zhengzhou Yutong Bus Co Ltd is 0.44 (P/E divided by earnings growth, as of Sep 18, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Zhengzhou Yutong Bus Co Ltd (600066)?
Balance-sheet figures for Zhengzhou Yutong Bus Co Ltd (as of Sep 18, 2026): return on equity 35.7%, debt of 0.00 per unit of equity. They feed the Quality Score of 79/100, which measures business quality independently of the share price.
How far is 600066 from its 52-week high?
Zhengzhou Yutong Bus Co Ltd trades at ¥26.01, about 32% below its 52-week high of ¥38.50 and 9% above the low of ¥23.94 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of ¥42.00 is for.
Which stocks are comparable to Zhengzhou Yutong Bus 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 Zhengzhou Yutong Bus Co Ltd stock attractive at the current price?
The data as of Sep 18, 2026: price ¥26.01, calculated fair value ¥42.00 (+61%), Quality Score 79/100, 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 600066 calculated?
We run Zhengzhou Yutong Bus 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 ¥42.00, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Zhengzhou Yutong Bus Co Ltd currently trades 61 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zhengzhou Yutong Bus Co Ltd (600066)?
The closing price on Sep 18, 2026 was ¥26.01. Our model-based fair value is ¥42.00, about +61% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zhengzhou Yutong Bus Co Ltd right now?
The rarer combination: high quality (79/100) AND below fair value. That earns a closer look rather than a quick verdict. A fairly wide model range (¥24.18 to ¥56.60) leaves room in how you read the outcome.
Where does the earnings growth of Zhengzhou Yutong Bus Co Ltd (600066) come from?
Earnings per share at Zhengzhou Yutong Bus Co Ltd grew −2.5 % a year from 2013 to 2024. Broken into its drivers: revenue per share +0.9 %, EBIT margin −3.2 %, tax rate +0.4 %, residual (interest, one-offs) −0.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Zhengzhou Yutong Bus Co Ltd
How large is the market capitalisation of Zhengzhou Yutong Bus Co Ltd (600066)?
The market capitalisation of Zhengzhou Yutong Bus Co Ltd is 70.9B CNY (≈ $10.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zhengzhou Yutong Bus Co Ltd (600066)?
The price-to-sales ratio of Zhengzhou Yutong Bus Co Ltd is 1.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zhengzhou Yutong Bus Co Ltd (600066)?
Earnings per share at Zhengzhou Yutong Bus Co Ltd are ¥2.47 (price ÷ EPS = P/E 10.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zhengzhou Yutong Bus Co Ltd (600066)?
The dividend yield of Zhengzhou Yutong Bus Co Ltd is 9.6% (payout 101%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Zhengzhou Yutong Bus Co Ltd (600066)?
The net margin of Zhengzhou Yutong Bus Co Ltd is 13.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zhengzhou Yutong Bus Co Ltd (600066)?
The return on equity (ROE) of Zhengzhou Yutong Bus Co Ltd is 35.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zhengzhou Yutong Bus Co Ltd (600066)?
On an EBIT basis the return on assets of Zhengzhou Yutong Bus Co Ltd is 8.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zhengzhou Yutong Bus Co Ltd (600066)?
The operating margin of Zhengzhou Yutong Bus Co Ltd is 14.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zhengzhou Yutong Bus Co Ltd (600066)?
Revenue at Zhengzhou Yutong Bus Co Ltd is growing −7.9% versus a year earlier (3y avg +23.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Zhengzhou Yutong Bus Co Ltd (600066)?
Earnings per share at Zhengzhou Yutong Bus Co Ltd are growing −11.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Zhengzhou Yutong Bus Co Ltd (600066) hold?
Zhengzhou Yutong Bus Co Ltd holds more cash than debt, 8.6B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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