Tangshan Sanyou Chemical Industries Co Ltd (600409) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Tangshan Sanyou Chemical Industries Co Ltd ¥1.48, price ¥6.32, upside -76.6%, quality 45 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 ¥4.53 – ¥15.17 · fair‑value band ¥1.10 – ¥1.84 · the ¥6.32 price screens above the ¥1.48 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Tangshan Sanyou Chemical Industries Co.,Ltd engages in the production and sales of calcium chloride, sodium chloride, and snow melting agent in the People's Republic of China. The company offers viscose staple fibers, soda ash, caustic soda, polyvinyl chloride resin, mixed methyl cyclosiloxane, and other products.
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Tangshan Sanyou Chemical Industries Co.,Ltd engages in the production and sales of calcium chloride, sodium chloride, and snow melting agent in the People's Republic of China. The company offers viscose staple fibers, soda ash, caustic soda, polyvinyl chloride resin, mixed methyl cyclosiloxane, and other products. It also provides silicone and other salt products. It products are mainly used in textiles, glass, non-ferrous metal smelting, synthetic detergents, chemical building materials, and other industries. It also exports its products to various countries and regions in Asia, Africa, Europe, the United States, and Australia. Tangshan Sanyou Chemical Industries Co.,Ltd was founded in 1999 and is headquartered in Tangshan, the People's Republic of China.
Stock analysis
Tangshan Sanyou Chemical Industries Co Ltd (600409) currently trades at ¥6.32, while our model-based Fair Value estimate is ¥1.48, implying the stock looks roughly 327.0% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ¥4.50 per share, and 1 of the 14 models we run sit above the ¥6.32 price.
Bear case: the Earnings-Based group reads lowest at ¥0.3100, and 13 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥1.10 (bear) to ¥1.84 (bull), the price of ¥6.32 sits above 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 45/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Tangshan Sanyou Chemical Industries Co Ltd reported revenue of 18.8B CNY in FY2025 versus 23.2B CNY in FY2021, a compound −5.1%/yr. Reported net income was 89.5M CNY in FY2025, compounding −51.9%/yr from FY2021.
Key figures
Market cap 13.0B CNY (≈ $1.9B) · P/E ratio 632.0 · P/S ratio 3.00 · EPS (TTM) ¥0.0100 · Dividend yield 0.5% · Net margin 0.5% · Return on equity −0.2% · Return on assets (EBIT) 4.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 31% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −48% fair-value upside, at −77%, 600409 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.3100 to ¥7.23). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥1.10Fair Value ¥1.48Bull ¥1.84
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.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.22/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−11.8%
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.
−7.4%
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.
+1.2%
Start year 2020 (pandemic). Over 10 years: +3.2% a year
Revenue growth 25 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.
+13.4%
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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.
−33.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−34.0%
Dividend (yield on the price)0.5%
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.−34% vs −16%, slowing
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.5% → 1%
Compare Tangshan Sanyou Chemical Industries Co Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Specialty Chemicals · 706 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−77% · Bottom 25%
Profitability
Return on assets0% · Bottom 25%
Net margin (TTM)0% · Bottom 25%
Operating margin (TTM)−2% · Bottom 25%
Growth and dividend
Revenue growth−5% · Below median
Dividend yield (TTM)0.5% · Bottom 25%
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (TTM)632.0× · Priciest 25%
P/B0.95× · Cheaper than median
P/S (TTM)0.71× · Cheaper than median
EV/EBITDA10.0× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 21
PAST (return on equity)0· sector 23
HEALTH (low debt)87· sector 95
DIVIDEND (yield)9· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Tangshan Sanyou Chemical Industries Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600409
Frequently asked questions
Is Tangshan Sanyou Chemical Industries Co Ltd (600409) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥1.48 versus a price of ¥6.32, about −77% upside (overvalued).
What is the fair value of 600409?
Our model-based fair value for Tangshan Sanyou Chemical Industries Co Ltd is ¥1.48 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥6.32.
What is the quality score of 600409?
Tangshan Sanyou Chemical Industries Co Ltd has a Quality Score of 45/100. 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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
Our model-based price target is the fair value of ¥1.48 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario ¥1.10, optimistic scenario ¥1.84. It is a calculation from audited fundamentals, not an analyst target.
What is the Tangshan Sanyou Chemical Industries Co Ltd stock forecast for 2026?
Our models put fair value at ¥1.48, about −77% upside versus a price of ¥6.32 (overvalued). Cautious scenario ¥1.10, optimistic scenario ¥1.84. The calculation is refreshed regularly with new filings.
What is the revenue of Tangshan Sanyou Chemical Industries Co Ltd (600409)?
Tangshan Sanyou Chemical Industries Co Ltd reported trailing-twelve-month revenue of about 18.6B CNY (latest available figure, as of Sep 24, 2026).
Does Tangshan Sanyou Chemical Industries Co Ltd pay a dividend?
Tangshan Sanyou Chemical Industries Co Ltd currently shows a dividend yield of about 0.47% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Tangshan Sanyou Chemical Industries Co Ltd (600409)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tangshan Sanyou Chemical Industries Co Ltd it is ¥1.48 per share (as of Sep 24, 2026), against a price of ¥6.32. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Tangshan Sanyou Chemical Industries Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 600409 trades above its calculated fair value: price ¥6.32, fair value ¥1.48, a gap of about −77% (overvalued). 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 600409?
No. The price is what the market pays today (¥6.32); the fair value is what the company's own numbers justify (¥1.48). For Tangshan Sanyou Chemical Industries Co Ltd the two are ¥4.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tangshan Sanyou Chemical Industries Co Ltd worth?
The market values Tangshan Sanyou Chemical Industries Co Ltd at about 13.0B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥6.32; our models calculate a fair value of ¥1.48 per share.
What do the bullish and bearish scenarios say about 600409?
Our models span a range for Tangshan Sanyou Chemical Industries Co Ltd: cautious scenario ¥1.10, base ¥1.48, optimistic ¥1.84 per share (as of Sep 24, 2026, price ¥6.32). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tangshan Sanyou Chemical Industries Co Ltd (600409)?
Balance-sheet figures for Tangshan Sanyou Chemical Industries Co Ltd (as of Sep 24, 2026): return on equity −0.2%, debt of 0.26 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 600409 from its 52-week high?
Tangshan Sanyou Chemical Industries Co Ltd trades at ¥6.32, about 31% below its 52-week high of ¥9.17 and 17% above the low of ¥5.38 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.48 is for.
Which stocks are comparable to Tangshan Sanyou Chemical Industries Co Ltd?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Tangshan Sanyou Chemical Industries Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥6.32, calculated fair value ¥1.48 (−77%), Quality Score 45/100, from 14 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 600409 calculated?
We run Tangshan Sanyou Chemical Industries Co Ltd through 14 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 ¥1.48, 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. Tangshan Sanyou Chemical Industries Co Ltd itself currently trades above fair value. 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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The closing price on Sep 23, 2026 was ¥6.32. Our model-based fair value is ¥1.48, about −77% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tangshan Sanyou Chemical Industries Co Ltd right now?
The price sits above even our optimistic bull case (¥1.84). The favourable scenario is already priced in. 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 but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Tangshan Sanyou Chemical Industries Co Ltd (600409) come from?
Earnings per share at Tangshan Sanyou Chemical Industries Co Ltd grew +3.6 % a year from 2013 to 2024. Broken into its drivers: revenue per share +5.1 %, EBIT margin +3.3 %, tax rate −1.7 %, residual (interest, one-offs) −2.9 %. 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 Tangshan Sanyou Chemical Industries Co Ltd
How large is the market capitalisation of Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The market capitalisation of Tangshan Sanyou Chemical Industries Co Ltd is 13.0B CNY (≈ $1.9B). 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/E ratio of Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The price-to-earnings ratio of Tangshan Sanyou Chemical Industries Co Ltd is 632.0. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The price-to-sales ratio of Tangshan Sanyou Chemical Industries Co Ltd is 3.00 (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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
Earnings per share at Tangshan Sanyou Chemical Industries Co Ltd are ¥0.0100 (price ÷ EPS = P/E 632.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The dividend yield of Tangshan Sanyou Chemical Industries Co Ltd is 0.5%. 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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The net margin of Tangshan Sanyou Chemical Industries Co Ltd is 0.5% (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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The return on equity (ROE) of Tangshan Sanyou Chemical Industries Co Ltd is −0.2% (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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
On an EBIT basis the return on assets of Tangshan Sanyou Chemical Industries Co Ltd is 4.9% (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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
The operating margin of Tangshan Sanyou Chemical Industries Co Ltd is −2.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tangshan Sanyou Chemical Industries Co Ltd (600409)?
Revenue at Tangshan Sanyou Chemical Industries Co Ltd is growing −5.4% versus a year earlier (3y avg −7.4%). 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 Tangshan Sanyou Chemical Industries Co Ltd (600409)?
Earnings per share at Tangshan Sanyou Chemical Industries Co Ltd are growing −28.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tangshan Sanyou Chemical Industries Co Ltd (600409) generate?
The free cash flow of Tangshan Sanyou Chemical Industries Co Ltd is −697M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tangshan Sanyou Chemical Industries Co Ltd (600409) carry?
The net debt of Tangshan Sanyou Chemical Industries Co Ltd is 37.5M CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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