Grandblue Environment Co (600323) Fair Value & Analysis
Utilities · CN · Market cap 24.0B CNY
Fair value as of: Aug 8, 2026
From 24 valuation models · updated 2 days ago
Share price +1.1% over the past month.
Below-average quality, screening 13% undervalued on our models.
What matters now
- The model range is unusually wide (¥19.12 to ¥57.62). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Our model range runs from ¥19.12 (bear) to ¥57.62 (bull), base ¥33.29. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 49/100 (below-average quality) with medium evidence: read the verdict with care.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.
How to read this chart
60‑month range ¥14.88 – ¥32.47 · fair‑value band ¥19.12 – ¥57.62 · the ¥29.42 price screens below the ¥33.29 fair value. Dashed = 300-day average. As of Aug 8, 2026.
Analysis
Grandblue Environment Co (600323) currently trades at ¥29.42, while our model-based Fair Value estimate is ¥33.29, implying the stock looks roughly 13.2% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Utilities 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, Grandblue Environment Co generated revenue of 15.0B CNY at a net margin of 14.2%. Revenue grew 40.6% year over year. It earns a return on equity of 14.4%. Net debt stands at 26.1B CNY. Fundamentals as of Aug 8, 2026
Our scenario range runs from ¥19.12 (bear case) to ¥57.62 (bull case); at ¥29.42, 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 11% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -33% fair-value upside, at 13%, 600323 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.
All 24 models by family
Widest divergence: Growth Earnings (¥62.64) versus Asset-Based (¥12.01). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 56
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
Grandblue Environment Co., Ltd. engages in the water supply, drainage, solid waste treatment, and energy businesses in China.
Full company description
Grandblue Environment Co., Ltd. engages in the water supply, drainage, solid waste treatment, and energy businesses in China. The company provides water intake, water production, water transmission, and drinking water services; and sewage treatment, and pipeline network operation and maintenance services, as well as manages and controls wastewater plants, draining pipeline networks, and pumping stations. It also engages in the waste incineration power generation, sludge disposal, fly ash disposal, ash landfill, waste landfill, solid waste environmental protection engineering, and sanitation; pipeline natural gas, bottled gas, hydrogen, and other multi-energy supply; and asset management businesses. Grandblue Environment Co., Ltd. was formerly known as Nanhai Development Co. Ltd. and changed its name to Grandblue Environment Co., Ltd. in December 2013. The company was founded in 1992 and is based in Foshan, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Grandblue Environment Co reported revenue of ¥13.9B in FY2025 versus ¥11.8B in FY2021, a compound +4.3%/yr. Reported net income was ¥2.0B in FY2025, compounding +14.1%/yr from FY2021.
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Peer Group
Utilities - Regulated Water · 67 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.
Valuation Multiples vs Utilities - Regulated Water median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| American Water Works Company AWK | $134.33 | $65.80 | -51% |
| SBSP3 SBSP3 | R$29.22 | R$31.23 | +7% |
| SBS SBS | $5.79 | $5.21 | -10% |
| Essential Utilities, Inc WTRG | $38.59 | $21.81 | -43% |
| CSMG3 CSMG3 | R$66.10 | R$60.17 | -9% |
| American States Water Company AWR | $85.01 | $48.02 | -44% |
| Chengdu Xingrong Environment Co 000598 | ¥6.97 | ¥10.74 | +54% |
| California Water Service Group CWT | $49.73 | $33.56 | -33% |
| Chongqing Water Group 601158 | ¥4.12 | ¥2.77 | -33% |
| H2O America, through its subsidiaries, HTO | $62.47 | $41.30 | -34% |
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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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