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Lotus Holdings (600186) Fair Value & Analysis

Consumer Defensive · CN · Market cap 17.2B CNY

LH Lotus Holdings 600186 · SHG
Price¥9.89
Fair Value¥3.47
Upside-64.9%
Quality62/100
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Healthy Growth
Thin margins · 9.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Moderate moat 63/100
Evidence: Medium Range ¥2.53 – ¥4.53 Share as image

Fair value as of: Aug 6, 2026

From 25 valuation models · updated 4 days ago

Fair value updated Aug 6, 2026, revised from ¥3.62 to ¥3.47 (−4.1%) since Jul 11, 2026. Share price −9.2% over the past month.

A solid business, but screening 65% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥4.53). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥15.60 ¥2.07 Fair Value ¥3.47 Feb 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 ¥2.07 – ¥15.60 · fair‑value band ¥2.53 – ¥4.53 · the ¥9.89 price screens above the ¥3.47 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Lotus Holdings (600186) currently trades at ¥9.89, while our model-based Fair Value estimate is ¥3.47, implying the stock looks roughly 64.9% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive 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: medium).

Over the trailing twelve months, Lotus Holdings generated revenue of 3.7B CNY at a net margin of 9.6%. Revenue grew 28.0% year over year. It earns a return on equity of 20.3%. The balance sheet holds a net cash position of 1.1B CNY. Fundamentals as of Aug 6, 2026

Our scenario range runs from ¥2.53 (bear case) to ¥4.53 (bull case); at ¥9.89, 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 28% below its 52-week high and 88% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -65%, 600186 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥2.09 ¥2.57 ¥3.22 80
Residual Income ¥1.15 ¥1.55 ¥5.22 76
Rev-Margin DCF ¥2.47 ¥3.42 ¥4.41 74
All 25 models by family
DCF Models
FCF DCF ¥2.05 ¥2.56 ¥3.28 38
Owner Earnings ¥3.10 ¥4.05 ¥5.38 31
5Y Revenue Exit ¥2.47 ¥3.41 ¥4.56 39
5Y EBITDA Exit ¥2.99 ¥4.33 ¥5.81 41
5Y P/E Exit ¥2.77 ¥3.94 ¥5.09 38
10Y Revenue Exit ¥2.24 ¥3.05 ¥4.04 36
10Y EBITDA Exit ¥2.62 ¥3.67 ¥4.94 37
10Y P/E Exit ¥2.49 ¥3.40 ¥4.42 35
Earnings-Based
Graham-Dodd ¥1.17 ¥2.53 ¥3.21 54
PEG = 1.0 ¥0.3900 ¥0.5600 ¥0.7300 46
EPV ¥2.97 ¥3.33 ¥3.64 59
Dividend Discount
Gordon GGM ¥0.1600 ¥0.2600 ¥0.3500 70
DDM Multi-Stage ¥0.1600 ¥0.2400 ¥0.3200 61
Multiples
P/E Multiple ¥2.72 ¥3.62 ¥4.53 63
P/S Multiple ¥2.20 ¥2.93 ¥3.66 58
P/B Multiple ¥2.20 ¥2.93 ¥3.66 55
EV/EBIT ¥4.25 ¥5.40 ¥6.54 53
EV/EBITDA ¥3.94 ¥4.98 ¥6.02 54
EV/Revenue ¥2.84 ¥3.71 ¥4.58 43
Asset-Based
NCAV (Graham) ¥0.5500 ¥0.7300 ¥1.09 50
Growth DCF
Growth DCF ¥2.09 ¥2.57 ¥3.22 80
Rev-Margin DCF ¥2.47 ¥3.42 ¥4.41 74
Economic Profit
Residual Income ¥1.15 ¥1.55 ¥5.22 76
ROIC Compounder ¥3.00 ¥3.41 ¥3.79 72
Growth Earnings
Growth-Adj P/E ¥2.01 ¥2.87 ¥3.73 68

Widest divergence: Multiples (¥3.62) versus Dividend Discount (¥0.2400). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.7B CNY
Revenue growth (YoY) +28.0%
Net margin 9.6%
Return on equity 20.3%
Free cash flow 209M CNY FY2025
P/E ratio 55.1
More key figures
Operating margin 18.1%
EPS (TTM) ¥0.2100
EPS growth (YoY) +44.4%
Net cash 1.1B CNY FY2024

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 61 · Market factors (momentum, volatility) 74

Profitability 56
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 92
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 23
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

Lotus Holdings Co.,Ltd. engages in the production and sale of condiments and health food in China. The company offers soy sauce, oyster sauce, vinegar, cooking wine, braised sauce, and sesame oil; chicken essence, chicken powder, chicken juice, seasoning, dumpling materials, fried vegetables, and fresh mushroom, as well as octagonal, white pepper, black …

Full company description

Lotus Holdings Co.,Ltd. engages in the production and sale of condiments and health food in China. The company offers soy sauce, oyster sauce, vinegar, cooking wine, braised sauce, and sesame oil; chicken essence, chicken powder, chicken juice, seasoning, dumpling materials, fried vegetables, and fresh mushroom, as well as octagonal, white pepper, black pepper, ang cumin powder. It also provides amino acid condiments; drinking water products; and tomato sauce, matsutake with blanched sauce, hot pot base, hot pot seasoning, crayfish seasoning, fondue with butter, chafing dish base, fish seasoning, edible alkali, baking soda, bread crumbs, and sesame sauce. The company was formerly known as Lotus Health Group Company and changed its name to Lotus Holdings Co.,Ltd. in May 2024. Lotus Holdings Co.,Ltd. was founded in 1983 and is based in Xiangcheng, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lotus Holdings reported revenue of ¥3.5B in FY2025 versus ¥1.8B in FY2021, a compound +17.4%/yr. Reported net income was ¥309M in FY2025, compounding +62.5%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.5B CNY
Latest YoY
+30.5%
Avg. growth/yr (3Y)
+26.9%
Avg. growth/yr (5Y)
+15.8%
Avg. growth/yr (30Y)
+3.3%
Revenue +17.4%/yr
FY21 ¥1.8B
FY22 ¥1.7B
FY23 ¥2.1B
FY24 ¥2.6B
FY25 ¥3.5B
Net income +62.5%/yr
FY21 ¥44.4M
FY22 ¥46.2M
FY23 ¥130M
FY24 ¥203M
FY25 ¥309M

600186 screens 65% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Lotus Holdings Fair Value". https://www.fairvalue-calculator.com/stock/600186

Peer Group

Packaged Foods · 653 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 62 · Above median
Fair Value upside −65% · Bottom 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth 28% · Top 25%
Debt / equity 0.09× · Higher than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 45.6× · Pricier than 75% of peers
P/B 8.75× · Pricier than 75% of peers
P/S (TTM) 4.67× · Pricier than 75% of peers
P/FCF 12.2× · Pricier than 75% of peers
EV/EBITDA 26.1× · Pricier than 75% of peers
PEG 0.84× · Cheaper than median

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 29
FUTURE 100 · sector 19
PAST 81 · sector 27
HEALTH 96 · sector 96
DIVIDEND 0 · sector 47

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Lotus Holdings (600186) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of ¥3.47 versus a price of ¥9.89, about −65% (overvalued).
What is the fair value of 600186?
Our model-based fair value for Lotus Holdings is ¥3.47 (as of Aug 6, 2026), built from audited fundamentals. The current price is ¥9.89.
What is the quality score of 600186?
Lotus Holdings has a Quality Score of 62/100. 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 Lotus Holdings (600186)?
Lotus Holdings reported trailing-twelve-month revenue of about 3.7B CNY (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 600186?
The net profit margin of Lotus Holdings is about 9.6%, meaning it keeps roughly 9.6% of revenue as net income. Based on the latest reported figures.

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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