Heilongjiang Agriculture Co Ltd (600598) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Heilongjiang Agriculture Co Ltd stock ¥10.19, price ¥13.73, that is 25.8% below the price, quality 72 out of 100. Rating: overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range ¥10.69 – ¥18.98 · fair‑value band ¥7.00 – ¥13.28 · the ¥13.73 price screens above the ¥10.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Heilongjiang Agriculture Company Limited engages in the contracting and management of cultivated land in China. The company offers rice, corn, soybean, and other agricultural products; and oilseeds products.
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It is also involved in real estate development and management; food production; grain procurement; agricultural technology development, technology consulting, and technical services and technology transfer; and manufacturing and sale of fertilizers.
In addition, the company provides information processing and storage support; warehousing services; and livestock breeding services. The company was founded in 1998 and is based in Harbin, China.
Heilongjiang Agriculture Company Limited operates as a subsidiary of Beidahuang Land Reclamation Group Co., Ltd.
Stock analysis
Heilongjiang Agriculture Co Ltd (600598) currently trades at ¥13.73, while our model-based Fair Value estimate is ¥10.19, 26% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥11.10 per share, and 2 of the 25 models we run sit above the ¥13.73 price.
Bear case: the Asset-Based group reads lowest at ¥1.86, and 23 of the 25 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥7.00 (bear) to ¥13.28 (bull), the price of ¥13.73 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 72/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Heilongjiang Agriculture Co Ltd reported revenue of 5.2B CNY in FY2025 versus 3.6B CNY in FY2021, a compound +9.6%/yr. Reported net income was 1.2B CNY in FY2025, compounding +10.9%/yr from FY2021.
Key figures
Market cap 24.4B CNY (≈ $3.7B) Mid · P/S ratio 5.68 · EPS (TTM) ¥−0.2000 · Dividend yield 4.0% · Net margin −8.2% · Return on equity −5.1% · Return on assets (EBIT) 12.4% (5-year average) · Operating margin 32.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 6% fair-value upside, at −26%, 600598 screens richer than that median.
Fair Value models
Bear¥7.00Fair Value ¥10.19Bull¥13.28
Price ¥13.73 · Downside -25.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.1%
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.
+7.1%
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.
+10.0%
Start year 2020 (pandemic). Over 10 years: +3.6% a year
Revenue growth 27 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.
+3.8%
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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.
+10.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.6%
Dividend (yield on the price)4.0%
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.6.6% vs 4.7%, 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.34% → 21%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
+5.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +3.7% a year for the price.
Compare Heilongjiang Agriculture 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.Farm Products · 291 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside−25.8% · Below median
Profitability
Return on assets13.0% · Top 25%
Net margin (12 months)−8.2% · Bottom 25%
Operating margin (12 months)32.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−47.5% · Bottom 25%
Dividend yield (12 months)4.0% · Above median
Valuation Multiplesvs Farm Products median · lower = cheaper
P/B3.05× · Priciest 25%
P/S (12 months)5.62× · Priciest 25%
Price / free cash flow (fiscal year)20.6× · Pricier than median
EV/EBITDA17.1× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)0· sector 15
PAST (return on equity)0· sector 17
HEALTH (low debt)100· sector 94
DIVIDEND (yield)80· sector 41
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). "Heilongjiang Agriculture Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600598
Frequently asked questions
Is Heilongjiang Agriculture Co Ltd (600598) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of ¥10.19 versus a price of ¥13.73, about 26% lower (overvalued).
What is the fair value of 600598?
Our model-based fair value for Heilongjiang Agriculture Co Ltd is ¥10.19 (as of Nov 8, 2026), built from audited fundamentals. The current price: ¥13.73.
What is the quality score of 600598?
Heilongjiang Agriculture Co Ltd has a Quality Score of 72/100. 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 Heilongjiang Agriculture Co Ltd (600598)?
Our model-based price target is the fair value of ¥10.19 (as of Nov 8, 2026) from 25 valuation models. Cautious scenario ¥7.00, optimistic scenario ¥13.28. It is a calculation from audited fundamentals, not an analyst target.
What is the Heilongjiang Agriculture Co Ltd stock forecast for 2026?
Our models put fair value at ¥10.19, about 26% lower versus a price of ¥13.73 (overvalued). Cautious scenario ¥7.00, optimistic scenario ¥13.28. The calculation is refreshed regularly with new filings.
What is the revenue of Heilongjiang Agriculture Co Ltd (600598)?
Heilongjiang Agriculture Co Ltd reported trailing-twelve-month revenue of about 4.3B CNY (latest available figure, as of Nov 8, 2026).
Does Heilongjiang Agriculture Co Ltd pay a dividend?
Heilongjiang Agriculture Co Ltd currently shows a dividend yield of 4.01% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Heilongjiang Agriculture Co Ltd (600598) and when is the ex-dividend date?
Heilongjiang Agriculture Co Ltd pays a dividend of ¥0.55 per share a year, a dividend yield of 4.0%. The last ex-dividend date was May 26, 2026. The payout ratio is 83.8% of earnings. Free cash flow covers the dividend 1.21 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Heilongjiang Agriculture Co Ltd (600598)?
For today's price to be fair in a discounted-cash-flow model, Heilongjiang Agriculture Co Ltd would have to grow free cash flow by +5.4 % 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 +10.0 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 600598 use?
Our models discount Heilongjiang Agriculture Co Ltd at 9.1 %: a base by market capitalisation (mid), damped by beta 0.26, 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 Heilongjiang Agriculture Co Ltd that is +5.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Heilongjiang Agriculture Co Ltd (600598) delivered so far?
Over the past 5 years revenue at Heilongjiang Agriculture Co Ltd grew +10.0 % a year. The price currently implies free-cash-flow growth of +5.4 % per 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 Heilongjiang Agriculture Co Ltd (600598) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Heilongjiang Agriculture Co Ltd (+5.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Heilongjiang Agriculture Co Ltd (600598)?
The free-cash-flow yield on the price is 4.86 %: that much free cash flow Heilongjiang Agriculture Co Ltd 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 Heilongjiang Agriculture Co Ltd (600598)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Heilongjiang Agriculture Co Ltd it is ¥10.19 per share (as of Nov 8, 2026), against a price of ¥13.73. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Heilongjiang Agriculture Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 600598 trades above its calculated fair value: price ¥13.73, fair value ¥10.19, a gap of about −26% (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 600598?
No. The price is what the market pays today (¥13.73); the fair value is what the company's own numbers justify (¥10.19). For Heilongjiang Agriculture Co Ltd the two are ¥3.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Heilongjiang Agriculture Co Ltd worth?
The market values Heilongjiang Agriculture Co Ltd at about 24.4B CNY (market capitalisation, as of Nov 8, 2026). Per share that is ¥13.73; our models calculate a fair value of ¥10.19 per share.
What do the bullish and bearish scenarios say about 600598?
Our models span a range for Heilongjiang Agriculture Co Ltd: cautious scenario ¥7.00, base ¥10.19, optimistic ¥13.28 per share (as of Nov 8, 2026, price ¥13.73). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Heilongjiang Agriculture Co Ltd (600598)?
Balance-sheet figures for Heilongjiang Agriculture Co Ltd (as of Nov 8, 2026): return on equity −5.1%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 600598 from its 52-week high?
Heilongjiang Agriculture Co Ltd trades at ¥13.73, about 23% below its 52-week high of ¥17.77 and 28% above the low of ¥10.69 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥10.19 is for.
Which stocks are comparable to Heilongjiang Agriculture Co Ltd?
From the same area (Consumer Defensive) we also value Muyuan Foods Group, Archer-Daniels-Midland Company, Tyson Foods, Inc, Bunge Global SA, 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 Heilongjiang Agriculture Co Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price ¥13.73, calculated fair value ¥10.19 (−26%), Quality Score 72/100, from 25 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 600598 calculated?
We run Heilongjiang Agriculture Co Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥10.19 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Heilongjiang Agriculture 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 Heilongjiang Agriculture Co Ltd (600598)?
The closing price on Nov 6, 2026 was ¥13.73. Our model-based fair value is ¥10.19, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Heilongjiang Agriculture Co Ltd right now?
The price sits above even our optimistic bull case (¥13.28). The favourable scenario is already priced in. Solid but not exceptional quality (72/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥7.00 to ¥13.28) leaves room in how you read the outcome.
Where does the earnings growth of Heilongjiang Agriculture Co Ltd (600598) come from?
Earnings per share at Heilongjiang Agriculture Co Ltd grew +4.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.1 %, EBIT margin +1.4 %, tax rate +0.0 %, residual (interest, one-offs) +0.2 %. 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 Heilongjiang Agriculture Co Ltd
How large is the market capitalisation of Heilongjiang Agriculture Co Ltd (600598)?
The market capitalisation of Heilongjiang Agriculture Co Ltd is 24.4B CNY (≈ $3.7B). 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 Heilongjiang Agriculture Co Ltd (600598)?
The price-to-sales ratio of Heilongjiang Agriculture Co Ltd is 5.68 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Heilongjiang Agriculture Co Ltd (600598)?
Earnings per share at Heilongjiang Agriculture Co Ltd are ¥−0.2000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Heilongjiang Agriculture Co Ltd (600598)?
The dividend yield of Heilongjiang Agriculture Co Ltd is 4.0%. 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 Heilongjiang Agriculture Co Ltd (600598)?
The net margin of Heilongjiang Agriculture Co Ltd is −8.2% (last twelve months). 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 Heilongjiang Agriculture Co Ltd (600598)?
The return on equity (ROE) of Heilongjiang Agriculture Co Ltd is −5.1% (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 Heilongjiang Agriculture Co Ltd (600598)?
On an EBIT basis the return on assets of Heilongjiang Agriculture Co Ltd is 12.4% (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 Heilongjiang Agriculture Co Ltd (600598)?
The operating margin of Heilongjiang Agriculture Co Ltd is 32.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Heilongjiang Agriculture Co Ltd (600598)?
Revenue at Heilongjiang Agriculture Co Ltd is growing −47.5% versus a year earlier (3y avg +7.1%). 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 Heilongjiang Agriculture Co Ltd (600598)?
Earnings per share at Heilongjiang Agriculture Co Ltd are growing +7.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Heilongjiang Agriculture Co Ltd (600598) hold?
Heilongjiang Agriculture Co Ltd holds more cash than debt, 190M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 8, 2026