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Shenyang Jinbei Automotive Company (600609) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 4.2B CNY

SJ Shenyang Jinbei Automotive Company 600609 · SHG
Price¥3.25
Fair Value¥3.96
Upside+21.9%
Quality66/100
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Mixed Growth
Thin margins · 4.5% net margin
Low debt · generates free cash flow
0.70% dividend yield
Ranks above peers (11/14)
Moderate moat 49/100
Evidence: Medium Range ¥2.97 – ¥4.95 Share as image

Fair value as of: Aug 9, 2026

From 25 valuation models · updated yesterday

Share price +4.2% over the past month.

A solid business, screening 22% undervalued on our models.

What matters now

  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from ¥2.97 (bear) to ¥4.95 (bull), base ¥3.96. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 66/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥8.56 ¥3.07 Fair Value ¥3.96 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 ¥3.07 – ¥8.56 · fair‑value band ¥2.97 – ¥4.95 · the ¥3.25 price screens below the ¥3.96 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Shenyang Jinbei Automotive Company (600609) currently trades at ¥3.25, while our model-based Fair Value estimate is ¥3.96, implying the stock looks roughly 21.9% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical 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, Shenyang Jinbei Automotive Company generated revenue of 4.6B CNY at a net margin of 4.5%. Revenue grew 7.1% year over year. It earns a return on equity of 19.3%. The balance sheet holds a net cash position of 1.5B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥2.97 (bear case) to ¥4.95 (bull case); at ¥3.25, 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 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 22%, 600609 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥4.64 ¥5.95 ¥7.65 80
Residual Income ¥1.22 ¥1.59 ¥4.62 76
Rev-Margin DCF ¥3.84 ¥5.11 ¥6.48 74
All 25 models by family
DCF Models
FCF DCF ¥4.55 ¥5.96 ¥7.87 38
Owner Earnings ¥3.32 ¥4.23 ¥5.47 31
5Y Revenue Exit ¥3.84 ¥5.06 ¥6.54 39
5Y EBITDA Exit ¥4.20 ¥5.71 ¥7.37 41
5Y P/E Exit ¥4.01 ¥5.36 ¥6.69 38
10Y Revenue Exit ¥4.02 ¥5.14 ¥6.49 36
10Y EBITDA Exit ¥4.31 ¥5.56 ¥7.07 37
10Y P/E Exit ¥4.19 ¥5.34 ¥6.60 35
Earnings-Based
Graham-Dodd ¥1.22 ¥2.80 ¥3.58 54
PEG = 1.0 ¥0.4700 ¥0.6600 ¥0.8600 46
EPV ¥3.27 ¥3.61 ¥3.91 59
Dividend Discount
Gordon GGM ¥0.0100 70
DDM Multi-Stage ¥0.0100 61
Multiples
P/E Multiple ¥2.97 ¥3.96 ¥4.95 63
P/S Multiple ¥2.30 ¥3.06 ¥3.83 58
P/B Multiple ¥2.30 ¥3.06 ¥3.83 55
EV/EBIT ¥4.76 ¥5.99 ¥7.21 53
EV/EBITDA ¥4.42 ¥5.53 ¥6.64 54
EV/Revenue ¥3.56 ¥4.63 ¥5.69 43
Asset-Based
NCAV (Graham) ¥0.6300 ¥0.8400 ¥1.26 50
Growth DCF
Growth DCF ¥4.64 ¥5.95 ¥7.65 80
Rev-Margin DCF ¥3.84 ¥5.11 ¥6.48 74
Economic Profit
Residual Income ¥1.22 ¥1.59 ¥4.62 76
ROIC Compounder ¥3.29 ¥3.67 ¥4.01 72
Growth Earnings
Growth-Adj P/E ¥2.22 ¥3.18 ¥4.13 68

Widest divergence: DCF Models (¥5.34) versus Asset-Based (¥0.8400). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 4.6B CNY
Revenue growth (YoY) +7.1%
Net margin 4.5%
Return on equity 19.3%
Free cash flow 448M CNY FY2025
P/E ratio 21.6
More key figures
Operating margin 7.8%
EPS (TTM) ¥0.1600
Dividend yield 0.7%
EPS growth (YoY) -32.2%
Net cash 1.5B CNY FY2024

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 66 · Market factors (momentum, volatility) 30

Profitability 47
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 94
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

Shenyang Jinbei Automotive Company Limited engages in the design, production, and sale of auto parts in China. The company offers auto interior parts, such as interior panels and instrument panels; automotive seats; door interior panels; plastic parts; and rubber parts. It serves automobile manufacturers.

Full company description

Shenyang Jinbei Automotive Company Limited engages in the design, production, and sale of auto parts in China. The company offers auto interior parts, such as interior panels and instrument panels; automotive seats; door interior panels; plastic parts; and rubber parts. It serves automobile manufacturers. Shenyang Jinbei Automotive Company Limited was founded in 1984 and is headquartered in Shenyang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenyang Jinbei Automotive Company reported revenue of ¥4.6B in FY2025 versus ¥5.2B in FY2021, a compound −3.2%/yr. Reported net income was ¥235M in FY2025, compounding +4.8%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
4.6B CNY
Latest YoY
+4.3%
Avg. growth/yr (3Y)
−6.8%
Avg. growth/yr (5Y)
−3.5%
Avg. growth/yr (33Y)
+0.9%
Revenue −3.2%/yr
FY21 ¥5.2B
FY22 ¥5.6B
FY23 ¥5.1B
FY24 ¥4.4B
FY25 ¥4.6B
Net income +4.8%/yr
FY21 ¥195M
FY22 ¥150M
FY23 ¥122M
FY24 ¥382M
FY25 ¥235M

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Cite: Fair Value Calculator (2026). "Shenyang Jinbei Automotive Company Fair Value". https://www.fairvalue-calculator.com/stock/600609

Peer Group

Auto Parts · 642 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 66 · Top 25%
Fair Value upside +22% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 7% · Above median
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 20.3× · Cheaper than median
P/B 2.58× · Pricier than median
P/S (TTM) 0.92× · Cheaper than median
P/FCF 1.4× · Cheaper than median
EV/EBITDA 6.1× · 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 62 · sector 17
FUTURE 36 · sector 23
PAST 77 · sector 26
HEALTH 92 · sector 95
DIVIDEND 14 · sector 30

Values & ESG

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

None of the checked exposures detected

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

Similar stocks

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

Stock Price Fair Value vs Fair Value
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Magna International Inc MGAN 1,122 MXN 1,172 MXN +4%
Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is Shenyang Jinbei Automotive Company (600609) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥3.96 versus a price of ¥3.25, about +22% (undervalued).
What is the fair value of 600609?
Our model-based fair value for Shenyang Jinbei Automotive Company is ¥3.96 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥3.25.
What is the quality score of 600609?
Shenyang Jinbei Automotive Company has a Quality Score of 66/100. 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 Shenyang Jinbei Automotive Company (600609)?
Shenyang Jinbei Automotive Company reported trailing-twelve-month revenue of about 4.6B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600609?
The net profit margin of Shenyang Jinbei Automotive Company is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does Shenyang Jinbei Automotive Company pay a dividend?
Shenyang Jinbei Automotive Company currently shows a dividend yield of about 0.67% 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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