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Tianjin Port Holdings (600717) Fair Value & Analysis

Industrials · CN · Market cap 12.2B CNY

TP Tianjin Port Holdings 600717 · SHG
Price¥4.23
Fair Value¥7.12
Upside+68.3%
Quality60/100
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Weak Growth
Thin margins · 8.5% net margin
Low debt · generates free cash flow
2.37% dividend yield
Ranks above peers (12/15)
Moderate moat 49/100
Evidence: Medium Range ¥5.34 – ¥8.90 Share as image

Fair value as of: Aug 9, 2026

From 26 valuation models · updated yesterday

Share price +4.4% over the past month.

A solid business, screening 68% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥5.34). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) 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)

¥5.52 ¥3.58 Fair Value ¥7.12 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 ¥3.58 – ¥5.52 · fair‑value band ¥5.34 – ¥8.90 · the ¥4.23 price screens below the ¥7.12 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Tianjin Port Holdings (600717) currently trades at ¥4.23, while our model-based Fair Value estimate is ¥7.12, implying the stock looks roughly 68.3% undervalued today. The Quality Score stands at 60/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Tianjin Port Holdings generated revenue of 12.4B CNY at a net margin of 8.5%. Revenue declined 12.7% year over year. It earns a return on equity of 6.0%. The balance sheet holds a net cash position of 970M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥5.34 (bear case) to ¥8.90 (bull case); at ¥4.23, 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 26% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at 68%, 600717 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 ¥7.37 ¥11.66 ¥18.66 80
Residual Income ¥5.31 ¥5.35 ¥5.09 76
Rev-Margin DCF ¥6.71 ¥10.55 ¥15.31 74
All 26 models by family
DCF Models
FCF DCF ¥7.36 ¥11.86 ¥19.30 38
Owner Earnings ¥4.97 ¥7.79 ¥12.45 31
5Y Revenue Exit ¥6.71 ¥10.61 ¥15.76 39
5Y EBITDA Exit ¥9.34 ¥15.84 ¥23.80 41
5Y P/E Exit ¥6.34 ¥9.87 ¥13.75 38
10Y Revenue Exit ¥6.69 ¥10.41 ¥15.80 36
10Y EBITDA Exit ¥8.60 ¥14.16 ¥22.29 37
10Y P/E Exit ¥6.63 ¥9.88 ¥14.18 35
Earnings-Based
Graham-Dodd ¥2.30 ¥9.30 ¥12.65 54
Lynch FV ¥2.32 ¥3.31 ¥4.31 50
PEG = 1.0 ¥2.32 ¥3.31 ¥4.31 46
EPV ¥5.08 ¥5.77 ¥6.36 59
Dividend Discount
Gordon GGM ¥0.9500 ¥1.99 ¥3.15 70
DDM Multi-Stage ¥0.9500 ¥1.67 ¥2.08 61
Multiples
P/E Multiple ¥5.34 ¥7.12 ¥8.90 63
P/S Multiple ¥4.32 ¥5.76 ¥7.20 58
P/B Multiple ¥4.32 ¥5.76 ¥7.20 55
EV/EBIT ¥8.75 ¥11.35 ¥13.94 53
EV/EBITDA ¥11.26 ¥14.69 ¥18.12 54
EV/Revenue ¥6.53 ¥8.91 ¥11.29 43
Asset-Based
NCAV (Graham) ¥3.47 ¥4.65 ¥6.95 50
Growth DCF
Growth DCF ¥7.37 ¥11.66 ¥18.66 80
Rev-Margin DCF ¥6.71 ¥10.55 ¥15.31 74
Economic Profit
Residual Income ¥5.31 ¥5.35 ¥5.09 76
ROIC Compounder ¥5.08 ¥5.77 ¥6.36 72
Growth Earnings
Growth-Adj P/E ¥4.05 ¥5.79 ¥7.53 68

Widest divergence: Growth DCF (¥10.55) versus Dividend Discount (¥1.67). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 12.4B CNY
Revenue growth (YoY) -12.7%
Net margin 8.5%
Return on equity 6.0%
Free cash flow 1.5B CNY FY2025
P/E ratio 11.8
More key figures
Operating margin 23.9%
EPS (TTM) ¥0.3600
Dividend yield 2.4%
EPS growth (YoY) +20.0%
Net cash 970M CNY FY2025

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 58 · Market factors (momentum, volatility) 44

Profitability 27
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 79
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

Tianjin Port Holdings Co., Ltd. engages in the cargo loading and unloading activities in China. It is involved in the port loading and unloading, sales, logistics, port services, and other related port activities. The company was founded in 1992 and is based in Tianjin, China. Tianjin Port Holdings Co., Ltd.

Full company description

Tianjin Port Holdings Co., Ltd. engages in the cargo loading and unloading activities in China. It is involved in the port loading and unloading, sales, logistics, port services, and other related port activities. The company was founded in 1992 and is based in Tianjin, China. Tianjin Port Holdings Co., Ltd. operates as a subsidiary of Tianjin Port Development Holdings Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tianjin Port Holdings reported revenue of ¥12.8B in FY2025 versus ¥14.5B in FY2021, a compound −3.0%/yr. Reported net income was ¥981M in FY2025, compounding +0.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
12.8B CNY
Latest YoY
+5.9%
Avg. growth/yr (3Y)
+5.7%
Avg. growth/yr (5Y)
−1.6%
Avg. growth/yr (31Y)
+17.5%
Revenue −3.0%/yr
FY21 ¥14.5B
FY22 ¥10.8B
FY23 ¥11.7B
FY24 ¥12.1B
FY25 ¥12.8B
Net income +0.2%/yr
FY21 ¥973M
FY22 ¥740M
FY23 ¥982M
FY24 ¥994M
FY25 ¥981M

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Cite: Fair Value Calculator (2026). "Tianjin Port Holdings Fair Value". https://www.fairvalue-calculator.com/stock/600717

Peer Group

Marine Shipping · 231 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 60 · Above median
Fair Value upside +68% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets 3% · Above median
Net margin (TTM) 9% · Below median
Operating margin (TTM) 24% · Above median
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 2.4% · Above median
Debt / equity 0.13× · Lower than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 11.8× · Cheaper than median
P/B 0.61× · Cheaper than 75% of peers
P/S (TTM) 0.99× · Cheaper than median
P/FCF 1.2× · Cheaper than median
EV/EBITDA 3.1× · Cheaper than 75% of peers
PEG 1.07× · 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 100 · sector 29
FUTURE 0 · sector 18
PAST 24 · sector 27
HEALTH 94 · sector 88
DIVIDEND 47 · sector 47

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

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.35 ¥5.58 +67%
Qingdao Port International Co 601298 ¥8.88 ¥15.97 +80%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%

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Frequently asked questions

Is Tianjin Port Holdings (600717) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥7.12 versus a price of ¥4.23, about +68% (undervalued).
What is the fair value of 600717?
Our model-based fair value for Tianjin Port Holdings is ¥7.12 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥4.23.
What is the quality score of 600717?
Tianjin Port Holdings has a Quality Score of 60/100. 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 Tianjin Port Holdings (600717)?
Tianjin Port Holdings reported trailing-twelve-month revenue of about 12.4B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600717?
The net profit margin of Tianjin Port Holdings is about 8.5%, meaning it keeps roughly 8.5% of revenue as net income. Based on the latest reported figures.
Does Tianjin Port Holdings pay a dividend?
Tianjin Port Holdings currently shows a dividend yield of about 2.37% 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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