Shen Ma Industry Co Ltd (600810) fair value: what the stock is really worth
As of Oct 8, 2026: fair value of Shen Ma Industry Co Ltd ¥6.70, price ¥6.27, upside +6.9%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
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 ¥5.27 – ¥15.24 · fair‑value band ¥2.64 – ¥12.64 · the ¥6.27 price screens below the ¥6.70 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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Shenma Industry Co.Ltd engages in the chemical and chemical fiber business in China, Europe, the Americas, Asia, and internationally. It offers nylon industrial yarns and cord fabrics; and nylon salt and slices.
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Shenma Industry Co.Ltd engages in the chemical and chemical fiber business in China, Europe, the Americas, Asia, and internationally. It offers nylon industrial yarns and cord fabrics; and nylon salt and slices. The company also provides air bag wire; adipic acid, caprolactatn, 1,6-hexanediamine, cyclohexanol, cyclohexane, nitric acid, and aramid fiber; dipped cord fabrics; nylon resins and modified engineering plastics; chemical fiber canvas; and paper and wood products, as well as nylon 66 products. The company was founded in 1993 and is based in Pingdingshan, China. Shenma Industry Co.Ltd operates as a subsidiary of China Pingmei Shenma Holding Group Co.,Ltd.
Stock analysis
Shen Ma Industry Co Ltd (600810) currently trades at ¥6.27, while our model-based Fair Value estimate is ¥6.70, so the stock looks roughly fairly valued today (gap 6.4%).
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Valuation
Bull case: the Asset-Based group reads highest at a median of ¥5.75 per share, and 0 of the 9 models we run sit above the ¥6.27 price.
Bear case: the Growth DCF group reads lowest at ¥2.89, and 9 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥2.64 (bear) to ¥12.64 (bull), the price of ¥6.27 sits inside 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 30/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Shen Ma Industry Co Ltd reported revenue of 12.6B CNY in FY2025 versus 13.6B CNY in FY2021, a compound −1.9%/yr. Reported net income was −217M CNY in FY2025.
Key figures
Market cap 7.0B CNY (≈ $1.0B) · P/S ratio 0.55 · EPS (TTM) ¥−0.0300 · Dividend yield 6.0% · Net margin −1.7% · Return on equity 0.2% · Return on assets (EBIT) 2.7% · Operating margin 7.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 45% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −39% fair-value upside, at 7%, 600810 screens cheaper than that median.
Fair Value models
Bear ¥2.64Fair Value ¥6.70Bull ¥12.64
Price ¥6.27 · Upside +6.9%
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−9.9%
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.
−4.8%
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.
+7.1%
Start year 2020 (pandemic). Over 10 years: +4.5% 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.
+11.0%
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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.
5.0% (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
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+24.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +22.4% a year for the price.
Compare Shen Ma Industry 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.Specialty Chemicals · 714 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside+6.9% · Above median
Profitability
Return on equity (TTM)0.2% · Bottom 25%
Return on assets0.3% · Bottom 25%
Net margin (TTM)−0.2% · Bottom 25%
Operating margin (TTM)7.9% · Below median
Growth and dividend
Revenue growth−2.3% · Bottom 25%
Dividend yield (TTM)6.0% · Top 25%
Balance sheet
Debt / equity0.95× · Highest 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Shen Ma Industry Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600810
Frequently asked questions
Is Shen Ma Industry Co Ltd (600810) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ¥6.70 versus a price of ¥6.27, about +7% upside (fairly valued).
What is the fair value of 600810?
Our model-based fair value for Shen Ma Industry Co Ltd is ¥6.70 (as of Oct 1, 2026), built from audited fundamentals. The current price: ¥6.27.
What is the quality score of 600810?
Shen Ma Industry Co Ltd has a Quality Score of 30/100. 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 Shen Ma Industry Co Ltd (600810)?
Our model-based price target is the fair value of ¥6.70 (as of Oct 1, 2026) from 11 valuation models. Cautious scenario ¥2.64, optimistic scenario ¥12.64. It is a calculation from audited fundamentals, not an analyst target.
What is the Shen Ma Industry Co Ltd stock forecast for 2026?
Our models put fair value at ¥6.70, about +7% upside versus a price of ¥6.27 (fairly valued). Cautious scenario ¥2.64, optimistic scenario ¥12.64. The calculation is refreshed regularly with new filings.
What is the revenue of Shen Ma Industry Co Ltd (600810)?
Shen Ma Industry Co Ltd reported trailing-twelve-month revenue of about 12.4B CNY (latest available figure, as of Oct 1, 2026).
Does Shen Ma Industry Co Ltd pay a dividend?
Shen Ma Industry Co Ltd currently shows a dividend yield of about 6.03% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Shen Ma Industry Co Ltd (600810)?
For today's price to be fair in a discounted-cash-flow model, Shen Ma Industry Co Ltd would have to grow free cash flow by +24.5 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.1 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of 600810 use?
Our models discount Shen Ma Industry Co Ltd at 10.4 %: a base by market capitalisation (small), damped by beta 0.39, 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 Shen Ma Industry Co Ltd that is +24.5 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Shen Ma Industry Co Ltd (600810) delivered so far?
Over the past 5 years revenue at Shen Ma Industry Co Ltd grew +7.1 % a year. The price currently implies +24.5 % 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 Shen Ma Industry Co Ltd (600810) growing?
The median revenue growth in the sector is +9.1 % a year. That is the yardstick for the growth priced into Shen Ma Industry Co Ltd (+24.5 % 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 Shen Ma Industry Co Ltd (600810)?
The free-cash-flow yield on the price is 4.42 %: that much free cash flow Shen Ma Industry Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shen Ma Industry Co Ltd (600810)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shen Ma Industry Co Ltd it is ¥6.70 per share (as of Oct 1, 2026), against a price of ¥6.27. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Shen Ma Industry Co Ltd stock overvalued or undervalued in 2026?
As of Oct 1, 2026, 600810 trades below its calculated fair value: price ¥6.27, fair value ¥6.70, a gap of about +7% (fairly valued). 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 600810?
No. The price is what the market pays today (¥6.27); the fair value is what the company's own numbers justify (¥6.70). For Shen Ma Industry Co Ltd the two are ¥0.4300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shen Ma Industry Co Ltd worth?
The market values Shen Ma Industry Co Ltd at about 7.0B CNY (market capitalisation, as of Oct 1, 2026). Per share that is ¥6.27; our models calculate a fair value of ¥6.70 per share.
What do the bullish and bearish scenarios say about 600810?
Our models span a range for Shen Ma Industry Co Ltd: cautious scenario ¥2.64, base ¥6.70, optimistic ¥12.64 per share (as of Oct 1, 2026, price ¥6.27). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Shen Ma Industry Co Ltd (600810)?
Balance-sheet figures for Shen Ma Industry Co Ltd (as of Oct 1, 2026): return on equity 0.2%, debt of 0.95 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is 600810 from its 52-week high?
Shen Ma Industry Co Ltd trades at ¥6.27, about 45% below its 52-week high of ¥11.46 and 12% above the low of ¥5.61 (as of Oct 8, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.70 is for.
Which stocks are comparable to Shen Ma Industry Co Ltd?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Shen Ma Industry Co Ltd stock attractive at the current price?
The data as of Oct 1, 2026: price ¥6.27, calculated fair value ¥6.70 (+7%), Quality Score 30/100, from 11 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 600810 calculated?
We run Shen Ma Industry Co Ltd through 11 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 ¥6.70, 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 14.5 % above its aggregate fair value. Shen Ma Industry Co Ltd currently trades 6 % 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 Shen Ma Industry Co Ltd (600810)?
The closing price on Oct 8, 2026 was ¥6.27. Our model-based fair value is ¥6.70, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shen Ma Industry Co Ltd right now?
The model range is unusually wide (¥2.64 to ¥12.64). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Shen Ma Industry Co Ltd (600810) come from?
Earnings per share at Shen Ma Industry Co Ltd grew +12.4 % a year from 2013 to 2024. Broken into its drivers: revenue per share −4.5 %, EBIT margin +16.0 %, tax rate +0.6 %, residual (interest, one-offs) +0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Shen Ma Industry Co Ltd
How large is the market capitalisation of Shen Ma Industry Co Ltd (600810)?
The market capitalisation of Shen Ma Industry Co Ltd is 7.0B CNY (≈ $1.0B). 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 Shen Ma Industry Co Ltd (600810)?
The price-to-sales ratio of Shen Ma Industry Co Ltd is 0.55 (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 Shen Ma Industry Co Ltd (600810)?
Earnings per share at Shen Ma Industry 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 Shen Ma Industry Co Ltd (600810)?
The dividend yield of Shen Ma Industry Co Ltd is 6.0%. 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 Shen Ma Industry Co Ltd (600810)?
The net margin of Shen Ma Industry Co Ltd is −1.7% (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 Shen Ma Industry Co Ltd (600810)?
The return on equity (ROE) of Shen Ma Industry Co Ltd is 0.2% (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 Shen Ma Industry Co Ltd (600810)?
On an EBIT basis the return on assets of Shen Ma Industry Co Ltd is 2.7% (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 Shen Ma Industry Co Ltd (600810)?
The operating margin of Shen Ma Industry Co Ltd is 7.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shen Ma Industry Co Ltd (600810)?
Revenue at Shen Ma Industry Co Ltd is growing −2.3% versus a year earlier (3y avg −4.8%). 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 Shen Ma Industry Co Ltd (600810)?
Earnings per share at Shen Ma Industry Co Ltd are growing −95.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Shen Ma Industry Co Ltd (600810) carry?
The net debt of Shen Ma Industry Co Ltd is 4.5B CNY (fiscal year 2025, ≈ 14.5 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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