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Shanghai Foreign Service Holding (600662) Fair Value & Analysis

Industrials · CN · Market cap 10.0B CNY

SF Shanghai Foreign Service Holding 600662 · SHG
Price¥4.40
Fair Value¥6.00
Upside+36.4%
Quality64/100
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Healthy Growth
Thin margins · 2.8% net margin
Low debt · generates free cash flow
3.37% dividend yield
Ranks above peers (13/14)
Narrow moat 32/100
Evidence: High Range ¥4.50 – ¥7.50 Share as image

Fair value as of: Aug 9, 2026

From 24 valuation models · updated yesterday

Share price +6.8% over the past month.

A solid business, screening 36% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥4.50). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

¥9.13 ¥3.82 Fair Value ¥6.00 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 ¥3.82 – ¥9.13 · fair‑value band ¥4.50 – ¥7.50 · the ¥4.40 price screens below the ¥6.00 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Shanghai Foreign Service Holding (600662) currently trades at ¥4.40, while our model-based Fair Value estimate is ¥6.00, implying the stock looks roughly 36.4% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Industrials 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: high), always confirm before acting.

Over the trailing twelve months, Shanghai Foreign Service Holding generated revenue of 24.5B CNY at a net margin of 2.8%. Revenue grew 5.9% year over year. It earns a return on equity of 13.8%. The balance sheet holds a net cash position of 9.3B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥4.50 (bear case) to ¥7.50 (bull case); at ¥4.40, the current price sits below 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 36% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -70% fair-value upside, at 36%, 600662 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 ¥10.27 ¥16.26 ¥27.76 80
Residual Income ¥2.14 ¥2.59 ¥5.82 76
Rev-Margin DCF ¥8.50 ¥12.60 ¥18.74 74
All 24 models by family
DCF Models
FCF DCF ¥10.59 ¥15.02 ¥27.86 38
Owner Earnings ¥8.67 ¥14.69 ¥27.34 31
5Y Revenue Exit ¥8.50 ¥12.03 ¥18.87 39
5Y EBITDA Exit ¥8.88 ¥12.84 ¥20.06 41
5Y P/E Exit ¥8.99 ¥13.98 ¥20.35 38
10Y Revenue Exit ¥8.95 ¥13.63 ¥18.80 36
10Y EBITDA Exit ¥9.37 ¥14.35 ¥23.23 37
10Y P/E Exit ¥9.45 ¥14.57 ¥23.22 35
Earnings-Based
Graham-Dodd ¥1.94 ¥13.55 ¥19.01 54
Lynch FV ¥4.09 ¥5.85 ¥7.60 50
PEG = 1.0 ¥4.09 ¥5.85 ¥7.60 46
EPV ¥6.66 ¥7.11 ¥7.51 59
Multiples
P/E Multiple ¥4.50 ¥6.00 ¥7.50 63
P/S Multiple ¥3.64 ¥4.86 ¥6.07 58
P/B Multiple ¥3.64 ¥4.86 ¥6.07 55
EV/EBIT ¥8.92 ¥10.58 ¥12.24 53
EV/EBITDA ¥8.28 ¥9.73 ¥11.17 54
EV/Revenue ¥7.50 ¥9.02 ¥10.54 43
Asset-Based
NCAV (Graham) ¥1.14 ¥1.52 ¥2.27 50
Growth DCF
Growth DCF ¥10.27 ¥16.26 ¥27.76 80
Rev-Margin DCF ¥8.50 ¥12.60 ¥18.74 74
Economic Profit
Residual Income ¥2.14 ¥2.59 ¥5.82 76
ROIC Compounder ¥6.66 ¥7.11 ¥7.51 72
Growth Earnings
Growth-Adj P/E ¥5.56 ¥7.94 ¥10.33 68

Widest divergence: DCF Models (¥13.98) versus Asset-Based (¥1.52). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 24.5B CNY
Revenue growth (YoY) +5.9%
Net margin 2.8%
Return on equity 13.8%
Free cash flow 954M CNY FY2025
P/E ratio 14.7
More key figures
Operating margin 5.1%
EPS (TTM) ¥0.3000
Dividend yield 3.4%
EPS growth (YoY) +11.9%
Net cash 9.3B CNY FY2024

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 65 · Market factors (momentum, volatility) 33

Profitability 47
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 77
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

Shanghai Foreign Service Holding Group Co., Ltd. engages in the provision of comprehensive human resources services in China. It offers human resource management, personnel management, talent dispatching, salary and benefits, recruiting and flexible employment, and business outsourcing services.

Full company description

Shanghai Foreign Service Holding Group Co., Ltd. engages in the provision of comprehensive human resources services in China. It offers human resource management, personnel management, talent dispatching, salary and benefits, recruiting and flexible employment, and business outsourcing services. The company also provides HR consulting, business consulting, and training and translation services. In addition, it offers payroll and tax management; health management; and commercial welfare services. Shanghai Foreign Service Holding Group Co., Ltd. was founded in 1992 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Foreign Service Holding reported revenue of ¥24.1B in FY2025 versus ¥11.5B in FY2021, a compound +20.5%/yr. Reported net income was ¥652M in FY2025, compounding +5.2%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
24.1B CNY
Latest YoY
+8.2%
Avg. growth/yr (3Y)
+18.1%
Avg. growth/yr (5Y)
+2.0%
Avg. growth/yr (32Y)
+23.8%
Revenue +20.5%/yr
FY21 ¥11.5B
FY22 ¥14.7B
FY23 ¥19.2B
FY24 ¥22.3B
FY25 ¥24.1B
Net income +5.2%/yr
FY21 ¥532M
FY22 ¥546M
FY23 ¥586M
FY24 ¥1.1B
FY25 ¥652M

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Cite: Fair Value Calculator (2026). "Shanghai Foreign Service Holding Fair Value". https://www.fairvalue-calculator.com/stock/600662

Peer Group

Trucking · 47 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 64 · Top 25%
Fair Value upside +36% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth 6% · Above median
Dividend yield (TTM) 3.4% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Trucking median · lower = cheaper

P/E (TTM) 14.7× · Cheaper than median
P/B 1.94× · Pricier than median
P/S (TTM) 0.41× · Cheaper than 75% of peers
P/FCF 1.6× · Cheaper than median
EV/EBITDA 1.4× · Cheaper than 75% of peers

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 82 · sector 9
FUTURE 30 · sector 9
PAST 55 · sector 13
HEALTH 100 · sector 94
DIVIDEND 67 · sector 20

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 Trucking stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).

Stock Price Fair Value vs Fair Value
Old Dominion Freight Line, Inc ODFL $225.23 $103.37 -54%
XPO, Inc XPO $219.29 $56.52 -74%
TFI International Inc TFII $155.83 $110.79 -29%
Knight-Swift Transportation Holdings KNX $75.19 $8.58 -89%
Saia, Inc SAIA $438.29 $129.64 -70%
Schneider National, Inc SNDR $38.19 $12.37 -68%
RXO, Inc RXO $27.07 $3.48 -87%
ArcBest Corporation ARCB $147.13 $45.89 -69%
Werner Enterprises, Inc WERN $46.04 $8.24 -82%
Dazhong Transportation (Group) Co 600611 ¥4.55 ¥1.20 -74%

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Frequently asked questions

Is Shanghai Foreign Service Holding (600662) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥6.00 versus a price of ¥4.40, about +36% (undervalued).
What is the fair value of 600662?
Our model-based fair value for Shanghai Foreign Service Holding is ¥6.00 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥4.40.
What is the quality score of 600662?
Shanghai Foreign Service Holding has a Quality Score of 64/100. 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 Shanghai Foreign Service Holding (600662)?
Shanghai Foreign Service Holding reported trailing-twelve-month revenue of about 24.5B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600662?
The net profit margin of Shanghai Foreign Service Holding is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does Shanghai Foreign Service Holding pay a dividend?
Shanghai Foreign Service Holding currently shows a dividend yield of about 3.60% 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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