SAIC Motor Corporation (600104) Fair Value & Analysis
Consumer Cyclical · CN · Market cap 119B CNY
Fair value as of: Jul 16, 2026
From 26 valuation models · updated 22 days ago
Share price +6.3% over the past month.
Below-average quality, screening 82% undervalued on our models.
What matters now
- The price is below even our cautious bear case (¥14.65). The market is more pessimistic than our downside scenario.
- Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
60‑month range ¥9.73 – ¥21.58 · fair‑value band ¥14.65 – ¥24.18 · the ¥10.77 price screens below the ¥19.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
SAIC Motor Corporation (600104) currently trades at ¥10.77, while our model-based Fair Value estimate is ¥19.64, implying the stock looks roughly 82.4% undervalued today. We read business quality at 46/100 (below-average quality), in the Consumer Cyclical 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: medium), always confirm before acting.
Over the trailing twelve months, SAIC Motor Corporation generated revenue of 656B CNY at a net margin of 1.5%. Revenue declined 0.3% year over year. It earns a return on equity of 5.0%. The balance sheet holds a net cash position of 65.6B CNY. Fundamentals as of Jul 16, 2026
Our scenario range runs from ¥14.65 (bear case) to ¥24.18 (bull case); at ¥10.77, 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 48% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 25% fair-value upside, at 82%, 600104 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.
All 26 models by family
Widest divergence: DCF Models (¥36.44) versus Dividend Discount (¥5.66). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 32
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
SAIC Motor Corporation Limited engages in the research and development, production, and sale of vehicles and their parts in the China and internationally. The company operates through Vehicles & Components and Financial Services segments. Its Vehicles & Components segment produces and sells complete vehicles and components.
Full company description
SAIC Motor Corporation Limited engages in the research and development, production, and sale of vehicles and their parts in the China and internationally. The company operates through Vehicles & Components and Financial Services segments. Its Vehicles & Components segment produces and sells complete vehicles and components. The Financial Services segment engages in financial services. SAIC Motor Corporation Limited was founded in 1997 and is based in Shanghai, the People's Republic of China. SAIC Motor Corporation Limited is a subsidiary of Shanghai Automotive Industry Corporation (Group) Corp.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SAIC Motor Corporation reported revenue of ¥656B in FY2025 versus ¥780B in FY2021, a compound −4.2%/yr. Reported net income was ¥10.1B in FY2025, compounding −19.9%/yr from FY2021.
Watch 600104: get an alert when its fair value changes →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- China’s SAIC to sell 10% more equity in JSW MG Motor – report
- SAIC Motor produces 100 millionth vehicle
Peer Group
Auto Manufacturers · 119 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 Multiples vs Auto Manufacturers median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Auto Manufacturers stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Toyota Motor Corporation TM | $179.76 | $224.63 | +25% |
| BYD Company 81211 | HK$80.55 | HK$50.85 | -37% |
| Hyundai Motor Company 005380 | 425,000 KRW | 616,918 KRW | +45% |
| General Motors Company GM | $77.72 | $56.93 | -27% |
| Bayerische Motoren Werke Aktiengesellschaft BMWM5N | 1,909 MXN | 2,944 MXN | +54% |
| Ferrari N.V RACE | $376.64 | $228.05 | -39% |
| Ford Motor Company F | C$11.86 | C$4.00 | -66% |
| Mercedes-Benz Group BENZ | C$20.44 | C$35.15 | +72% |
| Volkswagen AG VOW | 2,149 CZK | 7,191 CZK | +235% |
| Maruti Suzuki India Limited MARUTI | ₹13,803 | ₹8,236 | -40% |
Compare SAIC Motor Corporation with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Consumer Cyclical stocks →
Frequently asked questions
Is SAIC Motor Corporation (600104) overvalued or undervalued?
What is the fair value of 600104?
What is the quality score of 600104?
What is the revenue of SAIC Motor Corporation (600104)?
What is the net profit margin of 600104?
Does SAIC Motor Corporation pay a dividend?
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.
Track SAIC Motor Corporation and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.