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Sichuan Langsha Holding (600137) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 1.7B CNY

SL Sichuan Langsha Holding 600137 · SHG
Price¥17.98
Fair Value¥7.31
Upside-59.3%
Quality74/100
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Healthy Growth
Thin margins · 7.7% net margin
Low debt · generates free cash flow
1.13% dividend yield
Mixed vs. peers (6/14)
Narrow moat 43/100
Evidence: High Range ¥5.49 – ¥9.14 Share as image

Fair value as of: Aug 6, 2026

From 26 valuation models · updated 4 days ago

Share price +7.4% over the past month.

A solid business, but screening 59% overvalued on our models.

What matters now

  • A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (¥9.14). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

¥24.73 ¥9.93 Fair Value ¥7.31 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 ¥9.93 – ¥24.73 · fair‑value band ¥5.49 – ¥9.14 · the ¥17.98 price screens above the ¥7.31 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

Sichuan Langsha Holding (600137) currently trades at ¥17.98, while our model-based Fair Value estimate is ¥7.31, implying the stock looks roughly 59.3% overvalued today. The Quality Score stands at 74/100 (solid quality), in the Consumer Cyclical 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, Sichuan Langsha Holding generated revenue of 399M CNY at a net margin of 7.7%. Revenue grew 13.9% year over year. It earns a return on equity of 5.5%. The balance sheet holds a net cash position of 464M CNY. Fundamentals as of Aug 6, 2026

Our scenario range runs from ¥5.49 (bear case) to ¥9.14 (bull case); at ¥17.98, 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 26% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at -59%, 600137 screens richer 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
Growth DCF ¥12.68 ¥17.41 ¥24.24 80
Residual Income ¥4.24 ¥4.30 ¥4.05 76
Rev-Margin DCF ¥9.90 ¥12.70 ¥16.36 74
All 26 models by family
DCF Models
FCF DCF ¥12.82 ¥18.23 ¥26.59 38
Owner Earnings ¥8.95 ¥11.72 ¥16.00 31
5Y Revenue Exit ¥9.90 ¥12.68 ¥16.29 39
5Y EBITDA Exit ¥10.28 ¥13.47 ¥17.35 41
5Y P/E Exit ¥10.98 ¥14.92 ¥19.36 38
10Y Revenue Exit ¥10.83 ¥13.72 ¥17.88 36
10Y EBITDA Exit ¥11.16 ¥14.25 ¥18.69 37
10Y P/E Exit ¥11.59 ¥15.23 ¥20.24 35
Earnings-Based
Graham-Dodd ¥2.26 ¥10.73 ¥14.76 54
Lynch FV ¥2.85 ¥4.07 ¥5.29 50
PEG = 1.0 ¥2.85 ¥4.07 ¥5.29 46
EPV ¥7.88 ¥8.29 ¥8.62 59
Dividend Discount
Gordon GGM ¥1.45 ¥2.60 ¥3.58 70
DDM Multi-Stage ¥1.45 ¥2.38 ¥2.78 61
Multiples
P/E Multiple ¥5.49 ¥7.31 ¥9.14 63
P/S Multiple ¥3.61 ¥4.81 ¥6.01 58
P/B Multiple ¥4.24 ¥5.65 ¥7.06 55
EV/EBIT ¥10.49 ¥12.36 ¥14.23 53
EV/EBITDA ¥9.16 ¥10.59 ¥12.01 54
EV/Revenue ¥8.26 ¥9.70 ¥11.15 43
Asset-Based
NCAV (Graham) ¥2.86 ¥3.83 ¥5.71 50
Growth DCF
Growth DCF ¥12.68 ¥17.41 ¥24.24 80
Rev-Margin DCF ¥9.90 ¥12.70 ¥16.36 74
Economic Profit
Residual Income ¥4.24 ¥4.30 ¥4.05 76
ROIC Compounder ¥8.15 ¥8.91 ¥9.75 72
Growth Earnings
Growth-Adj P/E ¥4.60 ¥6.57 ¥8.55 68

Widest divergence: DCF Models (¥13.72) versus Dividend Discount (¥2.38). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 399M CNY
Revenue growth (YoY) +13.9%
Net margin 7.7%
Return on equity 5.5%
Free cash flow 72.2M CNY FY2025
P/E ratio 58.7
More key figures
Operating margin 16.0%
EPS (TTM) ¥0.3200
Dividend yield 1.1%
EPS growth (YoY) -15.6%
Net cash 464M CNY FY2024

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

Quality Score breakdown

Overall quality 74/100

Of which business quality 74 · Market factors (momentum, volatility) 36

Profitability 34
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 81
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

Sichuan Langsha Holding Ltd. manufactures and sells knitted underwear and fabrics for men, women, and children in China. It offers seamless and seamed thermal underwear, fashion underwear, men's and women's shorts, bras, and others.

Full company description

Sichuan Langsha Holding Ltd. manufactures and sells knitted underwear and fabrics for men, women, and children in China. It offers seamless and seamed thermal underwear, fashion underwear, men's and women's shorts, bras, and others. The company sells its products through approximately directly operated stores, franchised stores, and foreign trade OEMs; and online. It also exports its products. The company was formerly known as Sichuan Changjiang Packaging Holding Co., Ltd. Sichuan Langsha Holding Ltd. was founded in 1996 and is headquartered in Xuzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sichuan Langsha Holding reported revenue of ¥390M in FY2025 versus ¥402M in FY2021, a compound −0.8%/yr. Reported net income was ¥32.3M in FY2025, compounding +12.5%/yr from FY2021.

Growth Quality 63/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
390M CNY
Latest YoY
+2.7%
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.
+6.1%
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.
+2.4%
Avg. growth/yr (30Y) 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.
+2.4%
Revenue −0.8%/yr
FY21 ¥402M
FY22 ¥327M
FY23 ¥388M
FY24 ¥380M
FY25 ¥390M
Net income +12.5%/yr
FY21 ¥20.2M
FY22 ¥17.3M
FY23 ¥22.6M
FY24 ¥23.4M
FY25 ¥32.3M
Character of growth · EPS growth decomposed (2013-2024) +16.3 % p.a.
Revenue per share −0.5 pp

of which total revenue −0.5 pp · buybacks/dilution +0.1 pp

EBIT margin +19.1 pp
Tax rate +1.7 pp
Residual (interest, one-offs) −4.1 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).

600137 screens 59% overvalued. Compare with H & M Hennes & Mauritz AB →

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Cite: Fair Value Calculator (2026). "Sichuan Langsha Holding Fair Value". https://www.fairvalue-calculator.com/stock/600137

Peer Group

Apparel Manufacturing · 212 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 74 · Top 25%
Fair Value upside −59% · Bottom 25%
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 16% · Top 25%
Revenue growth 14% · Top 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.08× · Higher than median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 54.8× · Pricier than 75% of peers
P/B 3.07× · Pricier than 75% of peers
P/S (TTM) 4.28× · Pricier than 75% of peers
P/FCF 3.5× · Pricier than median
EV/EBITDA 30.8× · 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 0 · sector 32
FUTURE 70 · sector 4
PAST 22 · sector 21
HEALTH 96 · sector 98
DIVIDEND 23 · sector 49

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.

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 163.45 kr 165.47 +1%
Ralph Lauren Corporation RL $374.08 $224.21 -40%
Moncler S.p.A MONC €52.08 €50.69 -3%
LPP SA LPP 19,380 PLN 17,754 PLN -8%
Bosideng International Holdings 3998 HK$4.88 HK$5.92 +21%
Youngor Fashion Co 600177 ¥7.57 ¥5.59 -26%
Page Industries Limited PAGEIND ₹39,900 ₹12,395 -69%
Hla Group 600398 ¥6.05 ¥9.92 +64%
Eclat Textile Co 1476 333.50 TWD 357.81 TWD +7%
Youngone Corporation 111770 87,600 KRW 196,629 KRW +124%

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Frequently asked questions

Is Sichuan Langsha Holding (600137) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of ¥7.31 versus a price of ¥17.98, about −59% (overvalued).
What is the fair value of 600137?
Our model-based fair value for Sichuan Langsha Holding is ¥7.31 (as of Aug 6, 2026), built from audited fundamentals. The current price is ¥17.98.
What is the quality score of 600137?
Sichuan Langsha Holding has a Quality Score of 74/100. 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 Sichuan Langsha Holding (600137)?
Sichuan Langsha Holding reported trailing-twelve-month revenue of about 399M CNY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 600137?
The net profit margin of Sichuan Langsha Holding is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.
Does Sichuan Langsha Holding pay a dividend?
Sichuan Langsha Holding currently shows a dividend yield of about 1.08% 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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