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Inner Mongolia North Hauler Joint Stock Co (600262) Fair Value & Analysis

Industrials · CN · Market cap 3.7B CNY

IM Inner Mongolia North Hauler Joint Stock Co 600262 · SHG
Price¥15.43
Fair Value¥15.79
Upside+2.3%
Quality62/100
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Mixed Growth
Thin margins · 7.5% net margin
Low debt · generates free cash flow
1.91% dividend yield
Ranks above peers (9/14)
Moderate moat 47/100
Evidence: Medium Range ¥11.84 – ¥19.73 Share as image

Fair value as of: Aug 7, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 7, 2026, revised from ¥22.10 to ¥15.79 (−28.6%) since Jul 11, 2026. Share price −21.3% over the past month.

A solid business, 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.
  • Our model range runs from ¥11.84 (bear) to ¥19.73 (bull), base ¥15.79. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 62/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥35.22 ¥12.13 Fair Value ¥15.79 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 ¥12.13 – ¥35.22 · fair‑value band ¥11.84 – ¥19.73 · the ¥15.43 price screens below the ¥15.79 fair value. Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Inner Mongolia North Hauler Joint Stock Co (600262) currently trades at ¥15.43, while our model-based Fair Value estimate is ¥15.79, implying the stock looks roughly 2.3% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Inner Mongolia North Hauler Joint Stock Co generated revenue of 3.0B CNY at a net margin of 7.5%. Revenue declined 6.7% year over year. It earns a return on equity of 12.7%. The balance sheet holds a net cash position of 769M CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥11.84 (bear case) to ¥19.73 (bull case); at ¥15.43, 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 56% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 12% fair-value upside, at 2%, 600262 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 ¥21.06 ¥33.82 ¥54.47 80
Residual Income ¥6.08 ¥6.84 ¥11.88 76
Rev-Margin DCF ¥15.41 ¥23.14 ¥33.23 74
All 26 models by family
DCF Models
FCF DCF ¥21.27 ¥35.45 ¥59.37 38
Owner Earnings ¥13.89 ¥22.26 ¥36.40 31
5Y Revenue Exit ¥15.41 ¥23.20 ¥33.57 39
5Y EBITDA Exit ¥16.48 ¥25.43 ¥36.49 41
5Y P/E Exit ¥16.51 ¥25.48 ¥35.65 38
10Y Revenue Exit ¥16.98 ¥24.99 ¥36.92 36
10Y EBITDA Exit ¥17.98 ¥26.59 ¥39.32 37
10Y P/E Exit ¥18.00 ¥26.63 ¥38.63 35
Earnings-Based
Graham-Dodd ¥5.11 ¥24.24 ¥33.34 54
Lynch FV ¥6.44 ¥9.20 ¥11.96 50
PEG = 1.0 ¥6.44 ¥9.20 ¥11.96 46
EPV ¥11.17 ¥12.42 ¥13.51 59
Dividend Discount
Gordon GGM ¥1.65 ¥3.29 ¥4.98 70
DDM Multi-Stage ¥1.65 ¥2.84 ¥3.47 61
Multiples
P/E Multiple ¥11.84 ¥15.79 ¥19.73 63
P/S Multiple ¥9.58 ¥12.78 ¥15.97 58
P/B Multiple ¥9.58 ¥12.78 ¥15.97 55
EV/EBIT ¥16.38 ¥20.76 ¥25.15 53
EV/EBITDA ¥15.03 ¥18.96 ¥22.89 54
EV/Revenue ¥12.62 ¥16.64 ¥20.66 43
Asset-Based
NCAV (Graham) ¥3.42 ¥4.59 ¥6.85 50
Growth DCF
Growth DCF ¥21.06 ¥33.82 ¥54.47 80
Rev-Margin DCF ¥15.41 ¥23.14 ¥33.23 74
Economic Profit
Residual Income ¥6.08 ¥6.84 ¥11.88 76
ROIC Compounder ¥12.23 ¥15.11 ¥18.72 72
Growth Earnings
Growth-Adj P/E ¥10.14 ¥14.48 ¥18.83 68

Widest divergence: DCF Models (¥25.43) versus Dividend Discount (¥2.84). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.0B CNY
Revenue growth (YoY) -6.7%
Net margin 7.5%
Return on equity 12.7%
Free cash flow 348M CNY FY2024
P/E ratio 16.3
More key figures
Operating margin 11.5%
EPS (TTM) ¥1.34
Dividend yield 1.8%
EPS growth (YoY) +18.9%
Net cash 769M CNY FY2024

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 17

Profitability 37
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 42
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 82
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

Inner Mongolia North Hauler Joint Stock Co., Ltd. engages in research and development, production, and sales of off-highway mining trucks in China and internationally. It provides spare parts, maintenance contracting, and labor services for mining vehicles, as well as manufacturers machinery.

Full company description

Inner Mongolia North Hauler Joint Stock Co., Ltd. engages in research and development, production, and sales of off-highway mining trucks in China and internationally. It provides spare parts, maintenance contracting, and labor services for mining vehicles, as well as manufacturers machinery. The company also offers mechanical drive trucks, such as standard, coal body, and water tanks; electric drive mining trucks; and energy mining trucks. The company was formerly known as North Hauler Co., Ltd. and changed its name to Inner Mongolia North Hauler Joint Stock Co., Ltd. in July 2000. Inner Mongolia North Hauler Joint Stock Co., Ltd. was founded in 1988 and is based in Baotou, China.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Inner Mongolia North Hauler Joint Stock Co reported revenue of ¥2.9B in FY2024 versus ¥1.4B in FY2020, a compound +20.4%/yr. Reported net income was ¥179M in FY2024, compounding +28.6%/yr from FY2020.

Growth Quality 87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
2.9B CNY
Latest YoY
+21.4%
Avg. growth/yr (3Y)
+21.0%
Avg. growth/yr (5Y)
+15.5%
Avg. growth/yr (27Y)
+9.3%
Revenue +20.4%/yr
FY20 ¥1.4B
FY21 ¥1.6B
FY22 ¥2.2B
FY23 ¥2.4B
FY24 ¥2.9B
Net income +28.6%/yr
FY20 ¥65.3M
FY21 ¥93.2M
FY22 ¥119M
FY23 ¥142M
FY24 ¥179M

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Cite: Fair Value Calculator (2026). "Inner Mongolia North Hauler Joint Stock Co Fair Value". https://www.fairvalue-calculator.com/stock/600262

Peer Group

Farm & Heavy Construction Machinery · 148 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 · Top 25%
Fair Value upside +2% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 3% · Below median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 12% · Top 25%
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 1.9% · Below median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper

P/E (TTM) 16.3× · Cheaper than median
P/B 2.28× · Pricier than median
P/S (TTM) 1.23× · Pricier than median
P/FCF 1.6× · Cheaper than median
EV/EBITDA 10.2× · 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 36 · sector 22
FUTURE 0 · sector 30
PAST 51 · sector 32
HEALTH 97 · sector 93
DIVIDEND 38 · sector 40

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

Stock Price Fair Value vs Fair Value
Caterpillar Inc CAT $952.41 $307.83 -68%
Deere & Company DE $597.24 $187.86 -69%
AB Volvo (publ), VOLVA kr 336.60 kr 288.08 -14%
PACCAR Inc PCAR $126.20 $94.80 -25%
Epiroc AB EPIA kr 251.90 kr 144.14 -43%
Exor N.V EXO €69.40 €219.41 +216%
Sany Heavy Industry Co 600031 ¥18.65 ¥20.84 +12%
XCMG Construction Machinery Co 000425 ¥8.39 ¥11.79 +41%
Sinotruk (Hong Kong) Limited 3808 HK$41.00 HK$53.51 +31%
Yutong Bus Co 600066 ¥32.29 ¥42.00 +30%

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Frequently asked questions

Is Inner Mongolia North Hauler Joint Stock Co (600262) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ¥15.79 versus a price of ¥15.43, about +2% (fairly valued).
What is the fair value of 600262?
Our model-based fair value for Inner Mongolia North Hauler Joint Stock Co is ¥15.79 (as of Aug 7, 2026), built from audited fundamentals. The current price is ¥15.43.
What is the quality score of 600262?
Inner Mongolia North Hauler Joint Stock Co 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 Inner Mongolia North Hauler Joint Stock Co (600262)?
Inner Mongolia North Hauler Joint Stock Co reported trailing-twelve-month revenue of about 3.0B CNY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 600262?
The net profit margin of Inner Mongolia North Hauler Joint Stock Co is about 7.5%, meaning it keeps roughly 7.5% of revenue as net income. Based on the latest reported figures.
Does Inner Mongolia North Hauler Joint Stock Co pay a dividend?
Inner Mongolia North Hauler Joint Stock Co currently shows a dividend yield of about 1.84% 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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