Shanghai Construction Group Co Ltd (600170) fair value: what the stock is really worth
As of Oct 8, 2026: fair value of Shanghai Construction Group Co Ltd ¥3.96, price ¥2.22, upside +78.4%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range ¥1.89 – ¥3.92 · fair‑value band ¥3.96 – ¥5.21 · the ¥2.22 price screens below the ¥3.96 fair value. Dashed = 300-day average. As of Sep 30, 2026.
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Shanghai Construction Group Co., Ltd. operates as a construction company in China and internationally.
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Shanghai Construction Group Co., Ltd. operates as a construction company in China and internationally. It is involved in the contracting, design, infrastructure projects, specialized engineering projects, architectural decoration, and construction and surveying design services; and real estate development, sales, leasing, and property management, as well as engages in the production and sales of concrete and precast components, steel structures, and other products. The company also engages in urban infrastructure investment and construction; sale of complete equipment and other goods; gold mining; and engineering project management consulting, labor dispatch and other related services. In addition, it is involved in building construction, building materials industry, urban construction investment, urban renewal, ecological and environmental services, water resources and water affairs, industrialized construction, stone mining, and photovoltaic power station business. Shanghai Construction Group Co., Ltd. was founded in 1998 and is based in Shanghai, China.
Stock analysis
Shanghai Construction Group Co Ltd (600170) currently trades at ¥2.22, while our model-based Fair Value estimate is ¥3.96, implying the stock looks roughly 43.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥16.62 per share, and 24 of the 26 models we run sit above the ¥2.22 price.
Bear case: the Earnings-Based group reads lowest at ¥1.58, and 2 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥3.96 (bear) to ¥5.21 (bull), the price of ¥2.22 sits below 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 47/100 (below-average quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Shanghai Construction Group Co Ltd reported revenue of 206B CNY in FY2025 versus 281B CNY in FY2021, a compound −7.5%/yr. Reported net income was 1.2B CNY in FY2025, compounding −24.3%/yr from FY2021.
Key figures
Market cap 19.7B CNY (≈ $2.9B) · P/E ratio 44.4 · P/S ratio 0.27 · EPS (TTM) ¥0.0500 · Dividend yield 1.6% · Net margin 0.6% · Return on equity 1.1% · Return on assets (EBIT) 1.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 78%, 600170 screens cheaper than that median.
Fair Value models
Bear ¥3.96Fair Value ¥3.96Bull ¥5.21
Price ¥2.22 · Upside +78.4%
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.0116 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.
Highest evidence
FCF DCF¥14.38¥21.30¥32.7380
Growth DCF¥14.31¥20.64¥30.7178
Owner Earnings¥12.17¥17.46¥26.2076
All 26 models by family
DCF Models
FCF DCF¥14.38¥21.30¥32.7380
Owner Earnings¥12.17¥17.46¥26.2076
5Y Revenue Exit¥11.69¥15.92¥21.5173
5Y EBITDA Exit¥14.16¥20.95¥29.3775
5Y P/E Exit¥9.50¥11.45¥13.5372
10Y Revenue Exit¥12.38¥16.62¥22.8567
10Y EBITDA Exit¥14.14¥20.21¥29.2268
10Y P/E Exit¥11.14¥13.44¥16.3965
Earnings-Based
Graham-Dodd¥0.9500¥4.24¥5.8164
Lynch FV¥1.10¥1.58¥2.0561
PEG = 1.0¥1.10¥1.58¥2.0557
EPV¥9.41¥10.10¥10.7074
Dividend Discount
Gordon GGM¥3.76¥7.50¥11.3667
DDM Multi-Stage¥3.76¥6.48¥7.9267
Multiples
P/E Multiple¥2.19¥2.92¥3.6563
P/S Multiple¥1.78¥2.37¥2.9658
P/B Multiple¥1.78¥2.37¥2.9655
EV/EBIT¥12.60¥15.12¥17.6566
EV/EBITDA¥14.87¥18.16¥21.4467
EV/Revenue¥10.43¥12.75¥15.0654
Asset-Based
NCAV (Graham)¥2.84¥3.81¥5.6854
Growth DCF
Growth DCF¥14.31¥20.64¥30.7178
Rev-Margin DCF¥11.69¥15.89¥21.2773
Economic Profit
Residual Income¥4.02¥3.90¥3.9076
ROIC Compounder¥9.69¥10.75¥11.8972
Growth Earnings
Growth-Adj P/E¥1.80¥2.57¥3.3467
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+2.2%
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.
+7.9%
Revenue growth 29 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.
+14.0%
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What shareholders gained per year (last 5 years) ⓘ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.
−18.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−20.0%
Dividend (yield on the price)1.6%
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.−20.0% vs −4.4%, slowing
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.2% → 3%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
Compare Shanghai Construction Group 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.Engineering & Construction · 796 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside+78.4% · Top 25%
Profitability
Return on equity (TTM)1.1% · Below median
Return on assets0.4% · Below median
Net margin (TTM)0.5% · Below median
Operating margin (TTM)1.1% · Below median
Growth and dividend
Revenue growth−27.5% · Bottom 25%
Dividend yield (TTM)1.6% · Below median
Balance sheet
Debt / equity1.14× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Shanghai Construction Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600170
Frequently asked questions
Is Shanghai Construction Group Co Ltd (600170) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of ¥3.96 versus a price of ¥2.22, about +78% upside (undervalued).
What is the fair value of 600170?
Our model-based fair value for Shanghai Construction Group Co Ltd is ¥3.96 (as of Sep 30, 2026), built from audited fundamentals. The current price: ¥2.22.
What is the quality score of 600170?
Shanghai Construction Group Co Ltd has a Quality Score of 47/100. 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 Shanghai Construction Group Co Ltd (600170)?
Our model-based price target is the fair value of ¥3.96 (as of Sep 30, 2026) from 26 valuation models. Cautious scenario ¥3.96, optimistic scenario ¥5.21. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai Construction Group Co Ltd stock forecast for 2026?
Our models put fair value at ¥3.96, about +78% upside versus a price of ¥2.22 (undervalued). Cautious scenario ¥3.96, optimistic scenario ¥5.21. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai Construction Group Co Ltd (600170)?
Shanghai Construction Group Co Ltd reported trailing-twelve-month revenue of about 197B CNY (latest available figure, as of Sep 30, 2026).
Does Shanghai Construction Group Co Ltd pay a dividend?
Shanghai Construction Group Co Ltd currently shows a dividend yield of about 1.58% relative to its recent price (as of Sep 30, 2026).
What growth is priced into Shanghai Construction Group Co Ltd (600170)?
For today's price to be fair in a discounted-cash-flow model, Shanghai Construction Group Co Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.3 % per year. As of Sep 30, 2026.
What discount rate (WACC) does the fair value of 600170 use?
Our models discount Shanghai Construction Group Co Ltd at 9.1 %: a base by market capitalisation (mid), damped by beta 0.28, 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 Shanghai Construction Group Co Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Shanghai Construction Group Co Ltd (600170) delivered so far?
Over the past 5 years revenue at Shanghai Construction Group Co Ltd grew -2.3 % a year. The price currently implies less than minus 40 % 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 Shanghai Construction Group Co Ltd (600170) growing?
The median revenue growth in the sector is +7.4 % a year. That is the yardstick for the growth priced into Shanghai Construction Group Co Ltd (less than minus 40 % 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 Shanghai Construction Group Co Ltd (600170)?
The free-cash-flow yield on the price is 24.12 %: that much free cash flow Shanghai Construction Group Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shanghai Construction Group Co Ltd (600170)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai Construction Group Co Ltd it is ¥3.96 per share (as of Sep 30, 2026), against a price of ¥2.22. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Shanghai Construction Group Co Ltd stock overvalued or undervalued in 2026?
As of Sep 30, 2026, 600170 trades below its calculated fair value: price ¥2.22, fair value ¥3.96, a gap of about +78% (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 600170?
No. The price is what the market pays today (¥2.22); the fair value is what the company's own numbers justify (¥3.96). For Shanghai Construction Group Co Ltd the two are ¥1.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai Construction Group Co Ltd worth?
The market values Shanghai Construction Group Co Ltd at about 19.7B CNY (market capitalisation, as of Sep 30, 2026). Per share that is ¥2.22; our models calculate a fair value of ¥3.96 per share.
What do the bullish and bearish scenarios say about 600170?
Our models span a range for Shanghai Construction Group Co Ltd: cautious scenario ¥3.96, base ¥3.96, optimistic ¥5.21 per share (as of Sep 30, 2026, price ¥2.22). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600170?
Shanghai Construction Group Co Ltd trades at a price-to-earnings ratio of 44.4 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥3.96 is built from several models across several years. Other multiples: P/B 0.4, P/S 0.1.
How solid is the balance sheet of Shanghai Construction Group Co Ltd (600170)?
Balance-sheet figures for Shanghai Construction Group Co Ltd (as of Sep 30, 2026): return on equity 1.1%, debt of 1.14 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 600170 from its 52-week high?
Shanghai Construction Group Co Ltd trades at ¥2.22, about 30% below its 52-week high of ¥3.18 and 2% above the low of ¥2.17 (as of Oct 8, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.96 is for.
Which stocks are comparable to Shanghai Construction Group Co Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Shanghai Construction Group Co Ltd stock attractive at the current price?
The data as of Sep 30, 2026: price ¥2.22, calculated fair value ¥3.96 (+78%), Quality Score 47/100, 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 600170 calculated?
We run Shanghai Construction Group 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 ¥3.96, 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 14.5 % above its aggregate fair value. Shanghai Construction Group Co Ltd currently trades 44 % 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 Shanghai Construction Group Co Ltd (600170)?
The closing price on Oct 8, 2026 was ¥2.22. Our model-based fair value is ¥3.96, about +78% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shanghai Construction Group Co Ltd right now?
The price is below even our cautious bear case (¥3.96). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Shanghai Construction Group Co Ltd (600170) come from?
Earnings per share at Shanghai Construction Group Co Ltd grew −1.7 % a year from 2013 to 2024. Broken into its drivers: revenue per share +9.8 %, EBIT margin −6.6 %, tax rate −1.9 %, residual (interest, one-offs) −2.2 %. 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 Shanghai Construction Group Co Ltd
How large is the market capitalisation of Shanghai Construction Group Co Ltd (600170)?
The market capitalisation of Shanghai Construction Group Co Ltd is 19.7B CNY (≈ $2.9B). 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 Shanghai Construction Group Co Ltd (600170)?
The price-to-sales ratio of Shanghai Construction Group Co Ltd is 0.27 (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 Shanghai Construction Group Co Ltd (600170)?
Earnings per share at Shanghai Construction Group Co Ltd are ¥0.0500 (price ÷ EPS = P/E 44.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shanghai Construction Group Co Ltd (600170)?
The dividend yield of Shanghai Construction Group Co Ltd is 1.6% (payout 70.0%). 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 Shanghai Construction Group Co Ltd (600170)?
The net margin of Shanghai Construction Group Co Ltd is 0.6% (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 Shanghai Construction Group Co Ltd (600170)?
The return on equity (ROE) of Shanghai Construction Group Co Ltd is 1.1% (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 Shanghai Construction Group Co Ltd (600170)?
On an EBIT basis the return on assets of Shanghai Construction Group Co Ltd is 1.0% (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 Shanghai Construction Group Co Ltd (600170)?
The operating margin of Shanghai Construction Group Co Ltd is 1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shanghai Construction Group Co Ltd (600170)?
Revenue at Shanghai Construction Group Co Ltd is growing −27.5% versus a year earlier (3y avg −10.4%). 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 Shanghai Construction Group Co Ltd (600170)?
Earnings per share at Shanghai Construction Group Co Ltd are growing −54.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Shanghai Construction Group Co Ltd (600170) hold?
Shanghai Construction Group Co Ltd holds more cash than debt, 39.6B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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