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AVIC Airborne Systems Co (600372) Fair Value & Analysis

Industrials · CN · Market cap 54.7B CNY

AA AVIC Airborne Systems Co 600372 · SHG
Price¥11.31
Fair Value¥3.88
Upside-65.7%
Quality28/100
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Expensive Growth
Thin margins · 4.8% net margin
Low debt · negative free cash flow
0.60% dividend yield
Trails peers (4/13)
Narrow moat 33/100
Evidence: High Range ¥2.81 – ¥4.72 Share as image

Fair value as of: Aug 9, 2026

From 17 valuation models · updated yesterday

Share price +2.7% over the past month.

Below-average quality, and screening another 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥4.72). The favourable scenario is already priced in.
  • Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

¥22.46 ¥10.02 Fair Value ¥3.88 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 9, 2026.

How to read this chart

60‑month range ¥10.02 – ¥22.46 · fair‑value band ¥2.81 – ¥4.72 · the ¥11.31 price screens above the ¥3.88 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

AVIC Airborne Systems Co (600372) currently trades at ¥11.31, while our model-based Fair Value estimate is ¥3.88, implying the stock looks roughly 65.7% overvalued today. The Quality Score stands at 28/100 (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).

Over the trailing twelve months, AVIC Airborne Systems Co generated revenue of 24.1B CNY at a net margin of 4.8%. Revenue declined 1.8% year over year. It earns a return on equity of 3.6%. Net debt stands at 6.3B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥2.81 (bear case) to ¥4.72 (bull case); at ¥11.31, the current price sits above 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 33% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -66%, 600372 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 ¥5.66 ¥5.49 ¥4.59 76
ROIC Compounder ¥4.45 ¥4.83 ¥5.17 72
Gordon GGM ¥0.8500 ¥1.76 ¥2.79 70
All 17 models by family
DCF Models
Owner Earnings ¥3.65 ¥5.04 ¥7.58 31
Earnings-Based
Graham-Dodd ¥1.50 ¥7.83 ¥10.84 54
Lynch FV ¥2.15 ¥3.07 ¥3.99 50
PEG = 1.0 ¥2.15 ¥3.07 ¥3.99 46
EPV ¥4.45 ¥4.83 ¥5.17 59
Dividend Discount
Gordon GGM ¥0.8500 ¥1.76 ¥2.79 70
DDM Multi-Stage ¥0.8500 ¥1.48 ¥1.85 61
Multiples
P/E Multiple ¥3.47 ¥4.63 ¥5.79 63
P/S Multiple ¥2.81 ¥3.75 ¥4.69 58
P/B Multiple ¥2.81 ¥3.75 ¥4.69 55
EV/EBIT ¥5.58 ¥6.73 ¥7.87 53
EV/EBITDA ¥7.95 ¥9.89 ¥11.83 54
EV/Revenue ¥4.59 ¥5.65 ¥6.70 43
Asset-Based
NCAV (Graham) ¥3.92 ¥5.26 ¥7.85 50
Economic Profit
Residual Income ¥5.66 ¥5.49 ¥4.59 76
ROIC Compounder ¥4.45 ¥4.83 ¥5.17 72
Growth Earnings
Growth-Adj P/E ¥3.20 ¥4.58 ¥5.95 68

Widest divergence: Asset-Based (¥5.26) versus Dividend Discount (¥1.48). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 24.1B CNY
Revenue growth (YoY) -1.8%
Net margin 4.8%
Return on equity 3.6%
Free cash flow −1.8B CNY FY2025
P/E ratio 47.1
More key figures
Operating margin 7.0%
EPS (TTM) ¥0.2400
Dividend yield 0.6%
EPS growth (YoY) +78.8%
Net debt 6.3B CNY FY2025

Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 28/100

Of which business quality 29 · Market factors (momentum, volatility) 36

Profitability 20
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 21
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 40
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

AVIC Airborne Systems Co., Ltd. Manufactures aviation products in China. The company offers avionics systems, flight control systems, and electromechanical systems; mechanical and electronic engineering, avionics, in the fields of aviation, aerospace, shipbuilding, and weapons; automatic control, inertial navigation, electronic information, radar and fire …

Full company description

AVIC Airborne Systems Co., Ltd. Manufactures aviation products in China. The company offers avionics systems, flight control systems, and electromechanical systems; mechanical and electronic engineering, avionics, in the fields of aviation, aerospace, shipbuilding, and weapons; automatic control, inertial navigation, electronic information, radar and fire control systems, electronic countermeasures, air traffic control, flight data, integrated imaging; instruments, meters and basic components; communication networks, electronic information and integrated circuits. It also provides roads, smart cities and the internet of things, industrial automation, industrial safety, rail transit, energy conservation and environmental protection and new energy electronics, intelligent equipment; equipment, sensors, motors, textile machinery, optical instruments. In addition, the company engages in research, development, production, sales, and service of electronic equipment, electromechanical equipment and sensors for various aircraft engines; automotive parts and systems, industrial automation and control equipment, intelligent systems and equipment, and mechanical manufacturing equipment; refrigeration systems; software and information products; and software, security and service system products. It also exports its products. The company was formerly known as China Avionics Systems Co.,Ltd. and changed its name to AVIC Airborne Systems Co., Ltd.in August 2023. AVIC Airborne Systems Co., Ltd. was founded in 1999 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AVIC Airborne Systems Co reported revenue of ¥24.0B in FY2025 versus ¥9.8B in FY2021, a compound +25.0%/yr. Reported net income was ¥1.1B in FY2025, compounding +7.5%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
24.0B CNY
Latest YoY
+0.5%
Avg. growth/yr (3Y)
−4.7%
Avg. growth/yr (5Y)
+22.4%
Avg. growth/yr (27Y)
+7.8%
Revenue +25.0%/yr
FY21 ¥9.8B
FY22 ¥27.7B
FY23 ¥29.0B
FY24 ¥23.9B
FY25 ¥24.0B
Net income +7.5%/yr
FY21 ¥799M
FY22 ¥1.4B
FY23 ¥1.9B
FY24 ¥1.0B
FY25 ¥1.1B

600372 screens 66% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "AVIC Airborne Systems Co Fair Value". https://www.fairvalue-calculator.com/stock/600372

Peer Group

Aerospace & Defense · 226 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 28 · Bottom 25%
Fair Value upside −66% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 5% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth -2% · Bottom 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.07× · Lower than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/E (TTM) 47.1× · Pricier than median
P/B 1.44× · Cheaper than 75% of peers
P/S (TTM) 2.27× · Cheaper than median
EV/EBITDA 14.8× · 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 0 · sector 0
FUTURE 0 · sector 46
PAST 15 · sector 38
HEALTH 97 · sector 94
DIVIDEND 12 · sector 15

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €213.25 €86.20 -60%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
HD Hyundai Heavy Industries Co 329180 466,000 KRW 272,966 KRW -41%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%

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Frequently asked questions

Is AVIC Airborne Systems Co (600372) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥3.88 versus a price of ¥11.31, about −66% (overvalued).
What is the fair value of 600372?
Our model-based fair value for AVIC Airborne Systems Co is ¥3.88 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥11.31.
What is the quality score of 600372?
AVIC Airborne Systems Co has a Quality Score of 28/100. 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 AVIC Airborne Systems Co (600372)?
AVIC Airborne Systems Co reported trailing-twelve-month revenue of about 24.1B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600372?
The net profit margin of AVIC Airborne Systems Co is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.
Does AVIC Airborne Systems Co pay a dividend?
AVIC Airborne Systems Co currently shows a dividend yield of about 0.63% relative to its recent price (as of Aug 9, 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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