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Shandong Publishing&Media Co (601019) Fair Value & Analysis

Communication Services · CN · Market cap 14.6B CNY

SP Shandong Publishing&Media Co 601019 · SHG
Price¥6.98
Fair Value¥11.60
Upside+66.2%
Quality65/100
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Mixed Growth
Solidly profitable · 10.5% net margin
generates free cash flow
4.90% dividend yield
Ranks above peers (12/13)
Narrow moat 44/100
Evidence: High Range ¥9.28 – ¥13.79 Share as image

Fair value as of: Aug 8, 2026

From 23 valuation models · updated 2 days ago

Share price +1.7% over the past month.

A solid business, screening 66% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥9.28). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) 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)

¥13.70 ¥4.70 Fair Value ¥11.60 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥4.70 – ¥13.70 · fair‑value band ¥9.28 – ¥13.79 · the ¥6.98 price screens below the ¥11.60 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Shandong Publishing&Media Co (601019) currently trades at ¥6.98, while our model-based Fair Value estimate is ¥11.60, implying the stock looks roughly 66.2% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Communication Services 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, Shandong Publishing&Media Co generated revenue of 11.2B CNY at a net margin of 10.5%. Revenue grew 1.2% year over year. It earns a return on equity of 7.6%. The balance sheet holds a net cash position of 5.9B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥9.28 (bear case) to ¥13.79 (bull case); at ¥6.98, 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 29% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 9% fair-value upside, at 66%, 601019 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
Residual Income ¥6.08 ¥6.47 ¥7.17 76
Growth DCF ¥10.12 ¥12.84 ¥16.52 72
Growth-Adj P/E ¥6.86 ¥9.80 ¥12.74 68
All 23 models by family
DCF Models
FCF DCF ¥9.90 ¥12.79 ¥16.86 38
Owner Earnings ¥9.42 ¥12.12 ¥15.90 31
5Y Revenue Exit ¥8.62 ¥11.15 ¥14.23 39
5Y EBITDA Exit ¥9.17 ¥12.13 ¥15.38 41
5Y P/E Exit ¥10.67 ¥14.76 ¥18.79 38
10Y Revenue Exit ¥8.89 ¥11.23 ¥14.03 36
10Y EBITDA Exit ¥9.38 ¥11.89 ¥14.86 37
10Y P/E Exit ¥10.32 ¥13.66 ¥17.32 35
Earnings-Based
Graham-Dodd ¥3.83 ¥8.34 ¥10.62 54
PEG = 1.0 ¥1.31 ¥1.87 ¥2.44 46
EPV ¥7.20 ¥7.90 ¥8.51 59
Multiples
P/E Multiple ¥9.28 ¥12.38 ¥15.47 63
P/S Multiple ¥7.17 ¥9.56 ¥11.95 58
P/B Multiple ¥7.17 ¥9.56 ¥11.95 55
EV/EBIT ¥9.88 ¥12.16 ¥14.45 53
EV/EBITDA ¥9.59 ¥11.79 ¥13.98 54
EV/Revenue ¥8.22 ¥10.45 ¥12.67 43
Asset-Based
NCAV (Graham) ¥3.69 ¥4.94 ¥7.37 50
Growth DCF
Growth DCF ¥10.12 ¥12.84 ¥16.52 72
Rev-Margin DCF ¥8.62 ¥11.25 ¥14.05 67
Economic Profit
Residual Income ¥6.08 ¥6.47 ¥7.17 76
ROIC Compounder ¥7.20 ¥8.06 ¥9.05 67
Growth Earnings
Growth-Adj P/E ¥6.86 ¥9.80 ¥12.74 68

Widest divergence: DCF Models (¥12.12) versus Asset-Based (¥4.94). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 11.2B CNY
Revenue growth (YoY) +1.2%
Net margin 10.5%
Return on equity 7.6%
Free cash flow 1.4B CNY FY2025
P/E ratio 12.2
More key figures
Operating margin 10.9%
EPS (TTM) ¥0.5700
Dividend yield 4.9%
EPS growth (YoY) +6.7%
Net cash 5.9B CNY FY2024

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 66 · Market factors (momentum, volatility) 36

Profitability 39
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 80
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

Shandong Publishing&Media Co.,Ltd, together with its subsidiaries, engages in the publication of textbooks and supplementary materials, general books, periodicals, electronic audio-visual products, and digital products in China.

Full company description

Shandong Publishing&Media Co.,Ltd, together with its subsidiaries, engages in the publication of textbooks and supplementary materials, general books, periodicals, electronic audio-visual products, and digital products in China. The company publishes and distributes teaching materials and teaching aids, general books, audio-visual products, etc.; and wholesales and retails stationary products. It also engages in the procurement and sale of paper, wood pulp, equipment, and other material products; provision of printing and packaging of various books, newspapers, etc.; and provision of software development, logistics, online education platform, and hotel services. The company was founded in 2011 and is based in Jinan, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shandong Publishing&Media Co reported revenue of ¥11.2B in FY2025 versus ¥10.9B in FY2021, a compound +0.7%/yr. Reported net income was ¥1.2B in FY2025, compounding −6.5%/yr from FY2021.

Growth Quality 63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
11.2B CNY
Latest YoY
−4.6%
Avg. growth/yr (3Y)
−0.1%
Avg. growth/yr (5Y)
+2.8%
Avg. growth/yr (13Y)
+5.5%
Revenue +0.7%/yr
FY21 ¥10.9B
FY22 ¥11.2B
FY23 ¥12.2B
FY24 ¥11.7B
FY25 ¥11.2B
Net income −6.5%/yr
FY21 ¥1.5B
FY22 ¥1.7B
FY23 ¥2.4B
FY24 ¥1.3B
FY25 ¥1.2B

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Cite: Fair Value Calculator (2026). "Shandong Publishing&Media Co Fair Value". https://www.fairvalue-calculator.com/stock/601019

Peer Group

Publishing · 110 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 65 · Above median
Fair Value upside +66% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 3% · Above median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 11% · Above median
Revenue growth 1% · Above median
Dividend yield (TTM) 4.9% · Above median

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 12.2× · Cheaper than median
P/B 0.95× · Cheaper than median
P/S (TTM) 1.30× · Pricier than median
P/FCF 1.6× · Cheaper than median
EV/EBITDA 6.7× · 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 39
FUTURE 6 · sector 0
PAST 30 · sector 21
HEALTH 0 · sector 99
DIVIDEND 98 · sector 57

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.

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Frequently asked questions

Is Shandong Publishing&Media Co (601019) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥11.60 versus a price of ¥6.98, about +66% (undervalued).
What is the fair value of 601019?
Our model-based fair value for Shandong Publishing&Media Co is ¥11.60 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥6.98.
What is the quality score of 601019?
Shandong Publishing&Media Co has a Quality Score of 65/100. 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 Shandong Publishing&Media Co (601019)?
Shandong Publishing&Media Co reported trailing-twelve-month revenue of about 11.2B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 601019?
The net profit margin of Shandong Publishing&Media Co is about 10.5%, meaning it keeps roughly 10.5% of revenue as net income. Based on the latest reported figures.
Does Shandong Publishing&Media Co pay a dividend?
Shandong Publishing&Media Co currently shows a dividend yield of about 4.96% relative to its recent price (as of Aug 8, 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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