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Dashang Co (600694) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 5.5B CNY

DC Dashang Co 600694 · SHG
Price¥14.43
Fair Value¥28.49
Upside+97.4%
Quality59/100
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Weak Growth
Thin margins · 8.0% net margin
Low debt · generates free cash flow
6.22% dividend yield
Ranks above peers (12/14)
Narrow moat 43/100
Evidence: High Range ¥21.37 – ¥35.37 Share as image

Fair value as of: Aug 9, 2026

From 22 valuation models · updated yesterday

Share price +2.4% over the past month.

A solid business, screening 97% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥21.37). The market is more pessimistic than our downside scenario.
  • Solid quality (59/100) 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)

¥25.25 ¥11.75 Fair Value ¥28.49 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 ¥11.75 – ¥25.25 · fair‑value band ¥21.37 – ¥35.37 · the ¥14.43 price screens below the ¥28.49 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Dashang Co (600694) currently trades at ¥14.43, while our model-based Fair Value estimate is ¥28.49, implying the stock looks roughly 97.4% undervalued today. The Quality Score stands at 59/100 (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: high), always confirm before acting.

Over the trailing twelve months, Dashang Co generated revenue of 6.3B CNY at a net margin of 8.0%. Revenue grew 2.7% year over year. It earns a return on equity of 5.9%. The balance sheet holds a net cash position of 1.2B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥21.37 (bear case) to ¥35.37 (bull case); at ¥14.43, 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 30% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 50% fair-value upside, at 97%, 600694 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 ¥18.85 ¥21.95 ¥27.00 80
Residual Income ¥17.94 ¥18.22 ¥17.64 76
Rev-Margin DCF ¥20.52 ¥26.43 ¥33.55 74
All 22 models by family
DCF Models
FCF DCF ¥18.53 ¥21.74 ¥27.40 38
Owner Earnings ¥35.99 ¥45.10 ¥61.20 31
5Y Revenue Exit ¥20.52 ¥26.28 ¥34.46 39
5Y EBITDA Exit ¥31.40 ¥44.88 ¥62.23 41
5Y P/E Exit ¥24.03 ¥32.28 ¥41.81 38
10Y Revenue Exit ¥19.29 ¥24.13 ¥29.77 36
10Y EBITDA Exit ¥26.20 ¥36.17 ¥47.86 37
10Y P/E Exit ¥21.76 ¥28.01 ¥34.56 35
Earnings-Based
Graham-Dodd ¥8.81 ¥15.55 ¥19.11 54
EPV ¥21.96 ¥24.00 ¥25.76 59
Multiples
P/E Multiple ¥21.37 ¥28.49 ¥35.62 63
P/S Multiple ¥14.74 ¥19.65 ¥24.56 58
P/B Multiple ¥16.51 ¥22.02 ¥27.52 55
EV/EBIT ¥38.70 ¥48.58 ¥58.46 53
EV/EBITDA ¥44.34 ¥56.11 ¥67.87 54
EV/Revenue ¥22.80 ¥28.69 ¥34.59 43
Asset-Based
NCAV (Graham) ¥11.71 ¥15.69 ¥23.42 50
Growth DCF
Growth DCF ¥18.85 ¥21.95 ¥27.00 80
Rev-Margin DCF ¥20.52 ¥26.43 ¥33.55 74
Economic Profit
Residual Income ¥17.94 ¥18.22 ¥17.64 76
ROIC Compounder ¥21.96 ¥24.10 ¥26.44 72
Growth Earnings
Growth-Adj P/E ¥15.06 ¥21.52 ¥27.98 68

Widest divergence: Multiples (¥28.49) versus Earnings-Based (¥15.55). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 6.3B CNY
Revenue growth (YoY) +2.7%
Net margin 8.0%
Return on equity 5.9%
Free cash flow 371M CNY FY2025
P/E ratio 11.1
More key figures
Operating margin 20.4%
EPS (TTM) ¥1.32
Dividend yield 6.3%
EPS growth (YoY) +3.9%
Net cash 1.2B CNY FY2024

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 56 · Market factors (momentum, volatility) 33

Profitability 30
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 82
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

Dashang Co., Ltd. operates a chain of department stores, supermarkets, and electrical appliance stores in China. It also sells its products through online. Dashang Co., Ltd. was founded in 1992 and is headquartered in Dalian, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dashang Co reported revenue of ¥6.2B in FY2025 versus ¥8.4B in FY2021, a compound −7.2%/yr. Reported net income was ¥491M in FY2025, compounding −10.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
6.2B CNY
Latest YoY
−10.8%
Avg. growth/yr (3Y)
−5.2%
Avg. growth/yr (5Y)
−5.2%
Avg. growth/yr (35Y)
+8.1%
Revenue −7.2%/yr
FY21 ¥8.4B
FY22 ¥7.3B
FY23 ¥7.3B
FY24 ¥6.9B
FY25 ¥6.2B
Net income −10.4%/yr
FY21 ¥760M
FY22 ¥549M
FY23 ¥505M
FY24 ¥586M
FY25 ¥491M

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Cite: Fair Value Calculator (2026). "Dashang Co Fair Value". https://www.fairvalue-calculator.com/stock/600694

Peer Group

Department Stores · 127 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 59 · Above median
Fair Value upside +97% · Top 25%
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 3% · Above median
Dividend yield (TTM) 6.2% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Department Stores median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than 75% of peers
P/B 0.62× · Cheaper than median
P/S (TTM) 0.87× · Pricier than median
P/FCF 2.2× · Pricier than median
EV/EBITDA 1.8× · 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 100 · sector 26
FUTURE 14 · sector 2
PAST 24 · sector 16
HEALTH 100 · sector 96
DIVIDEND 100 · sector 37

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

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 5,875 CLP 8,880 CLP +51%
El Puerto de Liverpool, S.A. LIVEPOLC1 99.62 MXN 263.70 MXN +165%
99 Speed Mart Retail Holdings 5326 3.70 MYR 1.45 MYR -61%
Cencosud S.A CENCOSUD 2,040 CLP 2,516 CLP +23%
Vishal Mega Mart Limited VMM ₹113.94 ₹37.39 -67%
SHINSEGAE Inc 004170 610,000 KRW 200,259 KRW -67%
Organización Soriana, S. A. B. de C. V., SORIANAB 30.04 MXN 59.59 MXN +98%
Lotte Shopping Co 023530 155,300 KRW 81,725 KRW -47%
Lojas Renner S.A LREN3 R$14.10 R$33.36 +137%
La Comer, S.A. LACOMERUBC 34.37 MXN 51.49 MXN +50%

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Frequently asked questions

Is Dashang Co (600694) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥28.49 versus a price of ¥14.43, about +97% (undervalued).
What is the fair value of 600694?
Our model-based fair value for Dashang Co is ¥28.49 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥14.43.
What is the quality score of 600694?
Dashang Co has a Quality Score of 59/100. 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 Dashang Co (600694)?
Dashang Co reported trailing-twelve-month revenue of about 6.3B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600694?
The net profit margin of Dashang Co is about 8.0%, meaning it keeps roughly 8.0% of revenue as net income. Based on the latest reported figures.
Does Dashang Co pay a dividend?
Dashang Co currently shows a dividend yield of about 6.30% 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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