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Shaanxi Construction Engineering Group (600248) Fair Value & Analysis

Industrials · CN · Market cap 10.7B CNY

SC Shaanxi Construction Engineering Group 600248 · SHG
Price¥2.84
Fair Value¥2.77
Upside-2.5%
Quality37/100
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Expensive Growth
Loss-making · 0.0% net margin
Moderate debt · negative free cash flow
0.69% dividend yield
Trails peers (3/11)
Narrow moat 20/100
Evidence: High Range ¥1.94 – ¥3.60 Share as image

Fair value as of: Aug 7, 2026

From 16 valuation models · updated 3 days ago

Fair value updated Aug 7, 2026, revised from ¥2.75 to ¥2.77 (+0.7%) since Jul 24, 2026. Share price +1.1% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (¥1.94 to ¥3.60) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥7.30 ¥2.67 Fair Value ¥2.77 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 ¥2.67 – ¥7.30 · fair‑value band ¥1.94 – ¥3.60 · the ¥2.84 price screens above the ¥2.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Shaanxi Construction Engineering Group (600248) currently trades at ¥2.84, while our model-based Fair Value estimate is ¥2.77, implying the stock looks roughly 2.5% fairly valued today. The Quality Score stands at 37/100 (below-average 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).

Trailing-twelve-month revenue stands at 125B CNY. Revenue declined 10.9% year over year. It earns a return on equity of 0.5%. Net debt stands at 16.3B CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥1.94 (bear case) to ¥3.60 (bull case); at ¥2.84, 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 32% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -2%, 600248 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥6.08 ¥5.69 ¥4.03 76
ROIC Compounder ¥31.51 ¥48.19 ¥70.75 72
Gordon GGM ¥7.85 ¥16.33 ¥25.91 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥0.4100 ¥2.87 ¥4.03 54
Lynch FV ¥1.48 ¥2.12 ¥2.75 50
PEG = 1.0 ¥1.48 ¥2.12 ¥2.75 46
EPV ¥24.18 ¥27.88 ¥31.11 59
Dividend Discount
Gordon GGM ¥7.85 ¥16.33 ¥25.91 70
DDM Multi-Stage ¥7.85 ¥13.77 ¥17.14 61
Multiples
P/E Multiple ¥0.9500 ¥1.27 ¥1.59 63
P/S Multiple ¥0.7700 ¥1.03 ¥1.29 58
P/B Multiple ¥0.7700 ¥1.03 ¥1.29 55
EV/EBIT ¥35.00 ¥46.00 ¥57.00 53
EV/EBITDA ¥29.19 ¥38.26 ¥47.32 54
EV/Revenue ¥25.55 ¥35.64 ¥45.74 43
Asset-Based
NCAV (Graham) ¥4.46 ¥5.98 ¥8.93 50
Economic Profit
Residual Income ¥6.08 ¥5.69 ¥4.03 76
ROIC Compounder ¥31.51 ¥48.19 ¥70.75 72
Growth Earnings
Growth-Adj P/E ¥1.94 ¥2.77 ¥3.60 68

Widest divergence: Dividend Discount (¥13.77) versus Multiples (¥1.27). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 125B CNY
Revenue growth (YoY) -10.9%
Net margin 0.0%
Return on equity 0.5%
Free cash flow −2.8B CNY FY2025
Operating margin 4.3%
More key figures
Dividend yield 0.7%
EPS growth (YoY) -56.7%
Net debt 16.3B CNY FY2025

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

Quality Score breakdown

Overall quality 37/100

Of which business quality 36 · Market factors (momentum, volatility) 35

Profitability 15
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 78
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

Shaanxi Construction Engineering Group Corporation Limited, through its subsidiaries, engages in the construction engineering business in China and internationally.

Full company description

Shaanxi Construction Engineering Group Corporation Limited, through its subsidiaries, engages in the construction engineering business in China and internationally. It engages in the infrastructure activity of buildings, bridge buildings, hotels and commercial buildings, and cultural and sports buildings; public transportation engineering; underground space development; landscaping engineering; industrial construction; and environmental protection engineering and other fields. The company is also involved the foundation engineering, structure, roofing engineering, and decoration engineering construction; investment in land and real estate development; real estate management and acquisition; and architectural design business, as well as business of logistics, financial, prefabricated building, and new building material industries. The company was founded in 1950 and is based in Xi'an, China. Shaanxi Construction Engineering Group Corporation Limited is a subsidiary of Shaanxi Construction Engineering Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shaanxi Construction Engineering Group reported revenue of ¥128B in FY2025 versus ¥168B in FY2021, a compound −6.5%/yr. Reported net income was ¥225M in FY2025, compounding −50.0%/yr from FY2021.

Growth Quality 43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
128B CNY
Avg. growth/yr (3Y)
−3.4%
Avg. growth/yr (5Y)
+7.7%
Avg. growth/yr (27Y)
+31.5%
Revenue −6.5%/yr
FY21 ¥168B
FY22 ¥189B
FY23 ¥181B
FY24 ¥151B
FY25 ¥128B
Net income −50.0%/yr
FY21 ¥3.6B
FY22 ¥3.6B
FY23 ¥4.0B
FY24 ¥3.0B
FY25 ¥225M

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Cite: Fair Value Calculator (2026). "Shaanxi Construction Engineering Group Fair Value". https://www.fairvalue-calculator.com/stock/600248

Peer Group

Engineering & Construction · 837 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 37 · Bottom 25%
Fair Value upside −3% · Above median
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) -0% · Bottom 25%
Operating margin (TTM) 4% · Below median
Revenue growth -11% · Below median
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.84× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.01× · 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 30 · sector 16
FUTURE 0 · sector 18
PAST 2 · sector 26
HEALTH 58 · sector 94
DIVIDEND 14 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Shaanxi Construction Engineering Group (600248) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ¥2.77 versus a price of ¥2.84, about −2% (fairly valued).
What is the fair value of 600248?
Our model-based fair value for Shaanxi Construction Engineering Group is ¥2.77 (as of Aug 7, 2026), built from audited fundamentals. The current price is ¥2.84.
What is the quality score of 600248?
Shaanxi Construction Engineering Group has a Quality Score of 37/100. 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 Shaanxi Construction Engineering Group (600248)?
Shaanxi Construction Engineering Group reported trailing-twelve-month revenue of about 125B CNY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 600248?
The net profit margin of Shaanxi Construction Engineering Group is about 0.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Shaanxi Construction Engineering Group pay a dividend?
Shaanxi Construction Engineering Group currently shows a dividend yield of about 0.68% 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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