Maanshan Iron & Steel Co Ltd (600808) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Maanshan Iron & Steel Co Ltd ¥4.24, price ¥2.51, upside +68.9%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ¥1.77 – ¥6.19 · fair‑value band ¥2.69 – ¥5.79 · the ¥2.51 price screens below the ¥4.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 1, 2026.
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Maanshan Iron & Steel Company Limited, together with its subsidiaries, manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally.
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Maanshan Iron & Steel Company Limited, together with its subsidiaries, manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally. It provides steel plates, including hot and cold-rolled thin plates, galvanized plates, coil-coating plates, and medium plates; section steel products, such as H-shaped steel and medium-shaped steel; high-speed wire rod and hot-rolled reinforcing steel products; and train wheels and wheel rims. The company also engages iron and steel smelting, steel rolling processing, Coke, coal tar, crude benzene, Ferric sulfate, and coke oven gas production sales, etc. It serves construction, automobile, bridge-building, machinery, petroleum transportation, home electrical appliances, and medium and high-grade production of automobile parts, and high-grade light industries; packaging and utensil manufacturing, steel structures, construction of petroleum drilling platforms and railways, production of robust materials, pre-stressing strand steel wires and spring steel wires; railway transport, port machinery, petrochemical, and aerospace industries. Maanshan Iron & Steel Company Limited was founded in 1953 and is headquartered in Maanshan, the People's Republic of China.
Stock analysis
Maanshan Iron & Steel Co Ltd (600808) currently trades at ¥2.51, while our model-based Fair Value estimate is ¥4.24, implying the stock looks roughly 40.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥5.94 per share, and 9 of the 16 models we run sit above the ¥2.51 price.
Bear case: the Dividend Discount group reads lowest at ¥0.8300, and 7 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥2.69 (bear) to ¥5.79 (bull), the price of ¥2.51 sits below 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 50/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Maanshan Iron & Steel Co Ltd reported revenue of 77.5B CNY in FY2025 versus 114B CNY in FY2021, a compound −9.2%/yr. Reported net income was −209M CNY in FY2025.
Key figures
Market cap 19.4B CNY (≈ $2.9B) · P/S ratio 0.25 · EPS (TTM) ¥−0.0300 · Dividend yield 2.3% · Net margin −0.3% · Return on equity 0.0% · Return on assets (EBIT) 0.1% · Operating margin 1.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 43% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at 69%, 600808 screens cheaper than that median.
Fair Value models
Bear ¥2.69Fair Value ¥4.24Bull ¥5.79
Price ¥2.51 · Upside +68.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.20/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−5.2%
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.
−8.8%
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.
−1.0%
Start year 2020 (pandemic). Over 10 years: +5.6% a year
Revenue growth 35 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.
+10.3%
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Profit margin (trend) ⓘ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.
3.5% (2020) → 0.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes about as much growth as the company has delivered so far and less than analysts expect.
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).
−2.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −4.4% a year for the price and +0.3% for the forecasts.
Compare Maanshan Iron & Steel 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.Steel · 399 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Above median
Fair Value upside+68.9% · Top 25%
Profitability
Return on equity (TTM)0.0% · Below median
Return on assets0.6% · Below median
Net margin (TTM)−0.3% · Bottom 25%
Operating margin (TTM)1.3% · Below median
Growth and dividend
Revenue growth4.6% · Below median
Dividend yield (TTM)2.3% · Below median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Steel median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Maanshan Iron & Steel Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600808
Frequently asked questions
Is Maanshan Iron & Steel Co Ltd (600808) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ¥4.24 versus a price of ¥2.51, about +69% upside (undervalued).
What is the fair value of 600808?
Our model-based fair value for Maanshan Iron & Steel Co Ltd is ¥4.24 (as of Oct 1, 2026), built from audited fundamentals. The current price: ¥2.51.
What is the quality score of 600808?
Maanshan Iron & Steel Co Ltd has a Quality Score of 50/100. 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 Maanshan Iron & Steel Co Ltd (600808)?
Our model-based price target is the fair value of ¥4.24 (as of Oct 1, 2026) from 16 valuation models. Cautious scenario ¥2.69, optimistic scenario ¥5.79. It is a calculation from audited fundamentals, not an analyst target.
What is the Maanshan Iron & Steel Co Ltd stock forecast for 2026?
Our models put fair value at ¥4.24, about +69% upside versus a price of ¥2.51 (undervalued). Cautious scenario ¥2.69, optimistic scenario ¥5.79. The calculation is refreshed regularly with new filings.
What is the revenue of Maanshan Iron & Steel Co Ltd (600808)?
Maanshan Iron & Steel Co Ltd reported trailing-twelve-month revenue of about 76.7B CNY (latest available figure, as of Oct 1, 2026).
Does Maanshan Iron & Steel Co Ltd pay a dividend?
Maanshan Iron & Steel Co Ltd currently shows a dividend yield of about 2.33% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Maanshan Iron & Steel Co Ltd (600808)?
For today's price to be fair in a discounted-cash-flow model, Maanshan Iron & Steel Co Ltd would have to grow free cash flow by -2.8 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.0 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of 600808 use?
Our models discount Maanshan Iron & Steel Co Ltd at 10.2 %: a base by market capitalisation (mid), damped by beta 0.91, 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 Maanshan Iron & Steel Co Ltd that is -2.8 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Maanshan Iron & Steel Co Ltd (600808) delivered so far?
Over the past 5 years revenue at Maanshan Iron & Steel Co Ltd grew -1.0 % a year. The price currently implies -2.8 % per year free-cash-flow growth a 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 Maanshan Iron & Steel Co Ltd (600808) growing?
The median revenue growth in the sector is +8.9 % a year. That is the yardstick for the growth priced into Maanshan Iron & Steel Co Ltd (-2.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Maanshan Iron & Steel Co Ltd (600808)?
The free-cash-flow yield on the price is 11.53 %: that much free cash flow Maanshan Iron & Steel Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Maanshan Iron & Steel Co Ltd (600808)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Maanshan Iron & Steel Co Ltd it is ¥4.24 per share (as of Oct 1, 2026), against a price of ¥2.51. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Maanshan Iron & Steel Co Ltd stock overvalued or undervalued in 2026?
As of Oct 1, 2026, 600808 trades below its calculated fair value: price ¥2.51, fair value ¥4.24, a gap of about +69% (undervalued). 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 600808?
No. The price is what the market pays today (¥2.51); the fair value is what the company's own numbers justify (¥4.24). For Maanshan Iron & Steel Co Ltd the two are ¥1.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Maanshan Iron & Steel Co Ltd worth?
The market values Maanshan Iron & Steel Co Ltd at about 19.4B CNY (market capitalisation, as of Oct 1, 2026). Per share that is ¥2.51; our models calculate a fair value of ¥4.24 per share.
What do the bullish and bearish scenarios say about 600808?
Our models span a range for Maanshan Iron & Steel Co Ltd: cautious scenario ¥2.69, base ¥4.24, optimistic ¥5.79 per share (as of Oct 1, 2026, price ¥2.51). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 600808?
The PEG ratio of Maanshan Iron & Steel Co Ltd is 0.47 (P/E divided by earnings growth, as of Oct 1, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Maanshan Iron & Steel Co Ltd (600808)?
Balance-sheet figures for Maanshan Iron & Steel Co Ltd (as of Oct 1, 2026): return on equity 0.0%, debt of 0.13 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 600808 from its 52-week high?
Maanshan Iron & Steel Co Ltd trades at ¥2.51, about 43% below its 52-week high of ¥4.44 and 5% above the low of ¥2.38 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥4.24 is for.
Which stocks are comparable to Maanshan Iron & Steel Co Ltd?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Maanshan Iron & Steel Co Ltd stock attractive at the current price?
The data as of Oct 1, 2026: price ¥2.51, calculated fair value ¥4.24 (+69%), Quality Score 50/100, from 16 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 600808 calculated?
We run Maanshan Iron & Steel Co Ltd through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥4.24, 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 14.9 % above its aggregate fair value. Maanshan Iron & Steel Co Ltd currently trades 41 % below its own fair value, and the market average says nothing about that. 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 Maanshan Iron & Steel Co Ltd (600808)?
The closing price on Sep 30, 2026 was ¥2.51. Our model-based fair value is ¥4.24, about +69% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Maanshan Iron & Steel Co Ltd right now?
The price is below even our cautious bear case (¥2.69). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (¥2.69 to ¥5.79) leaves room in how you read the outcome.
Key figures of Maanshan Iron & Steel Co Ltd
How large is the market capitalisation of Maanshan Iron & Steel Co Ltd (600808)?
The market capitalisation of Maanshan Iron & Steel Co Ltd is 19.4B CNY (≈ $2.9B). 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 Maanshan Iron & Steel Co Ltd (600808)?
The price-to-sales ratio of Maanshan Iron & Steel Co Ltd is 0.25 (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 Maanshan Iron & Steel Co Ltd (600808)?
Earnings per share at Maanshan Iron & Steel Co Ltd are ¥−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Maanshan Iron & Steel Co Ltd (600808)?
The dividend yield of Maanshan Iron & Steel Co Ltd is 2.3%. 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 Maanshan Iron & Steel Co Ltd (600808)?
The net margin of Maanshan Iron & Steel Co Ltd is −0.3% (fiscal year 2025). 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 Maanshan Iron & Steel Co Ltd (600808)?
The return on equity (ROE) of Maanshan Iron & Steel Co Ltd is 0.0% (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 Maanshan Iron & Steel Co Ltd (600808)?
On an EBIT basis the return on assets of Maanshan Iron & Steel Co Ltd is 0.1% (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 Maanshan Iron & Steel Co Ltd (600808)?
The operating margin of Maanshan Iron & Steel Co Ltd is 1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Maanshan Iron & Steel Co Ltd (600808)?
Revenue at Maanshan Iron & Steel Co Ltd is growing +4.6% versus a year earlier (3y avg −8.8%). 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 Maanshan Iron & Steel Co Ltd (600808)?
Earnings per share at Maanshan Iron & Steel Co Ltd are growing −94.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Maanshan Iron & Steel Co Ltd (600808) carry?
The net debt of Maanshan Iron & Steel Co Ltd is 15.2B CNY (fiscal year 2025, ≈ 6.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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