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YTO Express Group (600233) Fair Value & Analysis

Industrials · CN · Market cap 64.0B CNY

YE YTO Express Group 600233 · SHG
Price¥18.70
Fair Value¥15.86
Upside-15.2%
Quality59/100
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Expensive Growth
Thin margins · 6.3% net margin
Low debt · negative free cash flow
1.30% dividend yield
Ranks above peers (10/14)
Moderate moat 46/100
Evidence: High Range ¥11.89 – ¥19.82 Share as image

Fair value as of: Aug 7, 2026

From 16 valuation models · updated today

Fair value updated Aug 7, 2026, revised from ¥26.52 to ¥15.86 (−40.2%) since Jul 11, 2026. Share price +9.2% over the past month.

A solid business, but screening 15% overvalued on our models.

What matters now

  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from ¥11.89 (bear) to ¥19.82 (bull), base ¥15.86. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 59/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥22.38 ¥8.63 Fair Value ¥15.86 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range ¥8.63 – ¥22.38 · fair‑value band ¥11.89 – ¥19.82 · the ¥18.70 price screens above the ¥15.86 fair value. Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

YTO Express Group (600233) currently trades at ¥18.70, while our model-based Fair Value estimate is ¥15.86, implying the stock looks roughly 15.2% overvalued today. We read business quality at 59/100 (solid quality), in the Industrials 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, YTO Express Group generated revenue of 77.0B CNY at a net margin of 6.3%. Revenue grew 10.0% year over year. It earns a return on equity of 13.7%. The balance sheet holds a net cash position of 2.4B CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥11.89 (bear case) to ¥19.82 (bull case); at ¥18.70, the current price sits within 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 18% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -11% fair-value upside, at -15%, 600233 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
Residual Income ¥9.52 ¥11.49 ¥25.14 76
ROIC Compounder ¥18.66 ¥26.70 ¥32.53 72
Gordon GGM ¥3.61 ¥7.50 ¥11.89 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥8.58 ¥59.86 ¥84.01 54
Lynch FV ¥23.86 ¥34.08 ¥44.31 50
PEG = 1.0 ¥23.86 ¥34.08 ¥44.31 46
EPV ¥14.67 ¥16.86 ¥18.77 59
Dividend Discount
Gordon GGM ¥3.61 ¥7.50 ¥11.89 70
DDM Multi-Stage ¥3.61 ¥6.32 ¥7.87 61
Multiples
P/E Multiple ¥18.94 ¥25.25 ¥31.56 63
P/S Multiple ¥16.10 ¥21.46 ¥26.83 58
P/B Multiple ¥16.10 ¥21.46 ¥26.83 55
EV/EBIT ¥23.22 ¥30.45 ¥37.68 53
EV/EBITDA ¥24.91 ¥32.70 ¥40.49 54
EV/Revenue ¥16.16 ¥22.42 ¥28.69 43
Asset-Based
NCAV (Graham) ¥5.09 ¥6.82 ¥10.17 50
Economic Profit
Residual Income ¥9.52 ¥11.49 ¥25.14 76
ROIC Compounder ¥18.66 ¥26.70 ¥32.53 72
Growth Earnings
Growth-Adj P/E ¥29.50 ¥42.14 ¥54.78 68

Widest divergence: Growth Earnings (¥42.14) versus Dividend Discount (¥6.32). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 77.0B CNY
Revenue growth (YoY) +10.0%
Net margin 6.3%
Return on equity 13.7%
Free cash flow −757M CNY FY2025
P/E ratio 12.2
More key figures
Operating margin 9.1%
EPS (TTM) ¥1.41
Dividend yield 1.5%
EPS growth (YoY) +61.7%
Net cash 2.4B CNY FY2024

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 58

Profitability 52
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 57
Distance to the 52-week high (market factor)
Net Issuance 86
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

YTO Express Group Co.,Ltd. provides express delivery services to franchisees in China and internationally. It operates through Express Business, Freight Forwarding Business, and Aviation Business segments.

Full company description

YTO Express Group Co.,Ltd. provides express delivery services to franchisees in China and internationally. It operates through Express Business, Freight Forwarding Business, and Aviation Business segments. The company offers express services; warehousing and supply chain services, such as transfer services, warehousing system, and integrated warehousing and delivery; industry solutions, including platform and scene solutions; value added services comprising front, terminal, and full chain services. It also provides digital products consisting of YTO Neighbors, Yunmeng, and CRM and ERP; procurement, factoring, and payment settlement services; air, rail, multimodal, sea, and land freight; charter, airport operations, and self-operated routers; Yi Tong and shared products; and customs services. YTO Express Group Co.,Ltd. was founded in 2000 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

YTO Express Group reported revenue of ¥75.3B in FY2025 versus ¥45.2B in FY2021, a compound +13.6%/yr. Reported net income was ¥4.3B in FY2025, compounding +19.7%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
75.3B CNY
Latest YoY
+9.0%
Avg. growth/yr (3Y)
+12.0%
Avg. growth/yr (5Y)
+16.6%
Avg. growth/yr (28Y)
+21.2%
Revenue +13.6%/yr
FY21 ¥45.2B
FY22 ¥53.5B
FY23 ¥57.7B
FY24 ¥69.0B
FY25 ¥75.3B
Net income +19.7%/yr
FY21 ¥2.1B
FY22 ¥3.9B
FY23 ¥3.7B
FY24 ¥4.0B
FY25 ¥4.3B

600233 screens 15% overvalued. Compare with United Parcel Service, Inc →

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Cite: Fair Value Calculator (2026). "YTO Express Group Fair Value". https://www.fairvalue-calculator.com/stock/600233

Peer Group

Integrated Freight & Logistics · 216 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 59 · Top 25%
Fair Value upside −15% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 6% · Top 25%
Operating margin (TTM) 9% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 13.3× · Cheaper than median
P/B 1.84× · Pricier than median
P/S (TTM) 0.83× · Pricier than median
EV/EBITDA 6.9× · Cheaper than median
PEG 0.51× · Cheaper 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 13 · sector 44
FUTURE 50 · sector 8
PAST 55 · sector 26
HEALTH 97 · sector 94
DIVIDEND 26 · sector 55

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $117.72 $104.58 -11%
FedEx Corporation FDX $314.69 $347.68 +10%
Deutsche Post AG DHL €57.22 €53.18 -7%
DSV A/S DSV kr 1,660 kr 712.57 -57%
Kuehne + Nagel International AG KNIN CHF 209.90 CHF 147.92 -30%
J.B. Hunt Transport Services, Inc JBHT $291.41 $133.80 -54%
S.F. Holding 002352 ¥31.91 ¥48.64 +52%
C.H. Robinson Worldwide, Inc CHRW $193.50 $86.56 -55%
Expeditors International of Washington, Inc EXPD $172.02 $115.95 -33%
ZTO Express (Cayman) Inc 2057 HK$181.40 HK$241.93 +33%

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Frequently asked questions

Is YTO Express Group (600233) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ¥15.86 versus a price of ¥18.70, about −15% (overvalued).
What is the fair value of 600233?
Our model-based fair value for YTO Express Group is ¥15.86 (as of Aug 7, 2026), built from audited fundamentals. The current price is ¥18.70.
What is the quality score of 600233?
YTO Express Group has a Quality Score of 59/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of YTO Express Group (600233)?
YTO Express Group reported trailing-twelve-month revenue of about 77.0B CNY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 600233?
The net profit margin of YTO Express Group is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does YTO Express Group pay a dividend?
YTO Express Group currently shows a dividend yield of about 1.47% relative to its recent price (as of Aug 7, 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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