China Petroleum Engineering Corp (600339) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of China Petroleum Engineering Corp ¥4.50, price ¥3.25, upside +38.3%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ¥2.60 – ¥5.24 · fair‑value band ¥4.50 – ¥4.98 · the ¥3.25 price screens below the ¥4.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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China Petroleum Engineering Corporation provides energy and chemical engineering services. The company is involved in onshore and offshore oil and gas engineering design consulting, engineering contracting, construction and manufacturing, and operation and maintenance.
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China Petroleum Engineering Corporation provides energy and chemical engineering services. The company is involved in onshore and offshore oil and gas engineering design consulting, engineering contracting, construction and manufacturing, and operation and maintenance. It also engages in onshore and offshore oil and gas pipeline projects, chemical petroleum storage facilities, LNG receiving terminals and other engineering construction, marine pipeline survey and measurement, design and construction, and transportation of hydrogen and CO2. In addition, the company develops engineering businesses such as refining and chemical engineering, coal chemical engineering, textile and chemical fiber and synthetic materials; and industrial wastewater treatment and reuse, industrial tail gas treatment, VOCs control and management, oilfield sludge treatment, hazardous waste resource utilization, reduction and harmless treatment, as well as water and soil remediation services. Further, it offers engineering consulting; project management; equipment manufacturing, design and construction, and safety and environmental supervision; and project completion acceptance services. China Petroleum Engineering Corporation was formerly known as Xinjiang Dushanzi Tianli High and New Tech Co., Ltd. and changed its name to China Petroleum Engineering Corporation in February 2017. China Petroleum Engineering Corporation was founded in 1999 and is based in Beijing, China.
Stock analysis
China Petroleum Engineering Corp (600339) currently trades at ¥3.25, while our model-based Fair Value estimate is ¥4.50, implying the stock looks roughly 27.7% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥16.66 per share, and 15 of the 24 models we run sit above the ¥3.25 price.
Bear case: the Multiples group reads lowest at ¥1.08, and 9 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥4.50 (bear) to ¥4.98 (bull), the price of ¥3.25 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
China Petroleum Engineering Corp reported revenue of 99.7B CNY in FY2025 versus 79.8B CNY in FY2021, a compound +5.7%/yr. Reported net income was 356M CNY in FY2025, compounding −6.2%/yr from FY2021.
Key figures
Market cap 18.1B CNY (≈ $2.7B) · P/E ratio 46.4 · P/S ratio 0.17 · EPS (TTM) ¥0.0700 · Dividend yield 0.8% · Net margin 0.4% · Return on equity 1.4% · Return on assets (EBIT) 1.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −23% fair-value upside, at 38%, 600339 screens cheaper than that median.
Fair Value models
Bear ¥4.50Fair Value ¥4.50Bull ¥4.98
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.0322 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+16.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
Start year 2020 (pandemic). Over 10 years: +4.3% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.4%
Dividend (yield on the price)0.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−15% vs −13%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.2% → 2%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare China Petroleum Engineering Corp with another stock
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Peer Groupⓘ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.Oil & Gas Equipment & Services · 190 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+38% · Top 25%
Profitability
Return on equity (TTM)1% · Below median
Return on assets1% · Below median
Net margin (TTM)0% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)0.8% · Below median
Balance sheet
Debt / equity0.35× · Above median
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
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Is China Petroleum Engineering Corp (600339) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥4.50 versus a price of ¥3.25, about +38% upside (undervalued).
What is the fair value of 600339?
Our model-based fair value for China Petroleum Engineering Corp is ¥4.50 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥3.25.
What is the quality score of 600339?
China Petroleum Engineering Corp has a Quality Score of 58/100. 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 price target for China Petroleum Engineering Corp (600339)?
Our model-based price target is the fair value of ¥4.50 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ¥4.50, optimistic scenario ¥4.98. It is a calculation from audited fundamentals, not an analyst target.
What is the China Petroleum Engineering Corp stock forecast for 2026?
Our models put fair value at ¥4.50, about +38% upside versus a price of ¥3.25 (undervalued). Cautious scenario ¥4.50, optimistic scenario ¥4.98. The calculation is refreshed regularly with new filings.
What is the revenue of China Petroleum Engineering Corp (600339)?
China Petroleum Engineering Corp reported trailing-twelve-month revenue of about 99.4B CNY (latest available figure, as of Sep 24, 2026).
Does China Petroleum Engineering Corp pay a dividend?
China Petroleum Engineering Corp currently shows a dividend yield of about 0.80% relative to its recent price (as of Sep 24, 2026).
What growth is priced into China Petroleum Engineering Corp (600339)?
For today's price to be fair in a discounted-cash-flow model, China Petroleum Engineering Corp would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 600339 use?
Our models discount China Petroleum Engineering Corp at 9.1 %: a base by market capitalisation (mid), damped by beta 0.46, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For China Petroleum Engineering Corp that is less than minus 40 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has China Petroleum Engineering Corp (600339) delivered so far?
Over the past 5 years revenue at China Petroleum Engineering Corp grew +7.1 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of China Petroleum Engineering Corp (600339) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into China Petroleum Engineering Corp (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of China Petroleum Engineering Corp (600339)?
The free-cash-flow yield on the price is 31.14 %: that much free cash flow China Petroleum Engineering Corp produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of China Petroleum Engineering Corp (600339)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Petroleum Engineering Corp it is ¥4.50 per share (as of Sep 24, 2026), against a price of ¥3.25. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is China Petroleum Engineering Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 600339 trades below its calculated fair value: price ¥3.25, fair value ¥4.50, a gap of about +38% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 600339?
No. The price is what the market pays today (¥3.25); the fair value is what the company's own numbers justify (¥4.50). For China Petroleum Engineering Corp the two are ¥1.25 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Petroleum Engineering Corp worth?
The market values China Petroleum Engineering Corp at about 18.1B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥3.25; our models calculate a fair value of ¥4.50 per share.
What do the bullish and bearish scenarios say about 600339?
Our models span a range for China Petroleum Engineering Corp: cautious scenario ¥4.50, base ¥4.50, optimistic ¥4.98 per share (as of Sep 24, 2026, price ¥3.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600339?
China Petroleum Engineering Corp trades at a price-to-earnings ratio of 46.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥4.50 is built from several models across several years. Other multiples: P/B 0.7, P/S 0.2.
How solid is the balance sheet of China Petroleum Engineering Corp (600339)?
Balance-sheet figures for China Petroleum Engineering Corp (as of Sep 24, 2026): return on equity 1.4%, debt of 0.35 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 600339 from its 52-week high?
China Petroleum Engineering Corp trades at ¥3.25, about 38% below its 52-week high of ¥5.24 and 7% above the low of ¥3.05 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥4.50 is for.
Which stocks are comparable to China Petroleum Engineering Corp?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, TechnipFMC plc, Halliburton Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Petroleum Engineering Corp stock attractive at the current price?
The data as of Sep 24, 2026: price ¥3.25, calculated fair value ¥4.50 (+38%), Quality Score 58/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 600339 calculated?
We run China Petroleum Engineering Corp through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥4.50, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. China Petroleum Engineering Corp currently trades 38 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of China Petroleum Engineering Corp (600339)?
The closing price on Sep 23, 2026 was ¥3.25. Our model-based fair value is ¥4.50, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Petroleum Engineering Corp right now?
The price is below even our cautious bear case (¥4.50). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. The models converge in a tight band (¥4.50 to ¥4.98), unusually little disagreement for a valuation.
Where does the earnings growth of China Petroleum Engineering Corp (600339) come from?
Earnings per share at China Petroleum Engineering Corp grew −6.6 % a year from 2013 to 2024. Broken into its drivers: revenue per share +1.6 %, EBIT margin −7.1 %, tax rate −0.3 %, residual (interest, one-offs) −0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of China Petroleum Engineering Corp
How large is the market capitalisation of China Petroleum Engineering Corp (600339)?
The market capitalisation of China Petroleum Engineering Corp is 18.1B CNY (≈ $2.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of China Petroleum Engineering Corp (600339)?
The price-to-sales ratio of China Petroleum Engineering Corp is 0.17 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of China Petroleum Engineering Corp (600339)?
Earnings per share at China Petroleum Engineering Corp are ¥0.0700 (price ÷ EPS = P/E 46.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of China Petroleum Engineering Corp (600339)?
The dividend yield of China Petroleum Engineering Corp is 0.8% (payout 37.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of China Petroleum Engineering Corp (600339)?
The net margin of China Petroleum Engineering Corp is 0.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Petroleum Engineering Corp (600339)?
The return on equity (ROE) of China Petroleum Engineering Corp is 1.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of China Petroleum Engineering Corp (600339)?
On an EBIT basis the return on assets of China Petroleum Engineering Corp is 1.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of China Petroleum Engineering Corp (600339)?
The operating margin of China Petroleum Engineering Corp is 3.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Petroleum Engineering Corp (600339)?
Revenue at China Petroleum Engineering Corp is growing −1.5% versus a year earlier (3y avg +6.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at China Petroleum Engineering Corp (600339)?
Earnings per share at China Petroleum Engineering Corp are growing +8.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does China Petroleum Engineering Corp (600339) hold?
China Petroleum Engineering Corp holds more cash than debt, 21.4B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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