Ningbo Boway Alloy Material Co Ltd (601137) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Ningbo Boway Alloy Material Co Ltd ¥23.99, price ¥20.49, upside +17.1%, quality 39 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 Sep 24, 2026.
How to read this chart
60‑month range ¥9.21 – ¥27.40 · fair‑value band ¥17.99 – ¥37.26 · the ¥20.49 price screens below the ¥23.99 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Ningbo Boway Alloy Material Company Limited researches, develops, manufactures, and sells non-ferrous alloy materials in Asia, Europe, North America, and internationally.
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Ningbo Boway Alloy Material Company Limited researches, develops, manufactures, and sells non-ferrous alloy materials in Asia, Europe, North America, and internationally. It offers copper alloy bars, copper alloy wires, copper alloy strips, precision cutting wires, precision electronic wires, welding wires, and solar photovoltaic products; and precision alloy wires, including high-conductivity superconducting materials, copper alloy products, wear-resistant bronze alloys, high-plastic brass alloys, high-corrosion-resistance cupronickel alloys, and environment-friendly alloys. The company's products are used in aerospace, high-speed rail, electronics, telecommunication, automobile, ship, engineering machine, precision molding, lead frame, household appliance, and bathroom hardware industries. The company was formerly known as Ningbo Powerway Alloy Material Company Limited and changed its name to Ningbo Boway Alloy Material Company Limited in June 2013. Ningbo Boway Alloy Material Company Limited was founded in 1993 and is based in Ningbo, China.
Stock analysis
Ningbo Boway Alloy Material Co Ltd (601137) currently trades at ¥20.49, while our model-based Fair Value estimate is ¥23.99, implying the stock looks roughly 14.6% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥39.34 per share, and 11 of the 17 models we run sit above the ¥20.49 price.
Bear case: the Asset-Based group reads lowest at ¥6.14, and 6 of the 17 models stay below the price. Evidence for this calculation is medium.
Scenario range: ¥17.99 (bear) to ¥37.26 (bull), the price of ¥20.49 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 39/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ningbo Boway Alloy Material Co Ltd reported revenue of 18.7B CNY in FY2024 versus 7.6B CNY in FY2020, a compound +25.2%/yr. Reported net income was 1.4B CNY in FY2024, compounding +33.3%/yr from FY2020.
Key figures
Market cap 17.7B CNY (≈ $2.6B) · P/S ratio 0.77 · EPS (TTM) ¥−0.3400 · Dividend yield 0.2% · Net margin 7.3% · Return on equity −3.1% · Return on assets (EBIT) 5.8% · 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 22% below its 52-week high and 26% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −42% fair-value upside, at 17%, 601137 screens cheaper than that median.
Fair Value models
Bear ¥17.99Fair Value ¥23.99Bull ¥37.26
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.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.50/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.1%
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.
+22.9%
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.
+19.7%
Revenue growth 17 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.
+16.1%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+22.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+22.3%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.22% vs 23%, steady
Profit margin 2019 to 2024 ⓘ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.6% → 8%
2024 sits 131% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Ningbo Boway Alloy Material 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.Copper · 59 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score39 · Below median
Fair Value upside+17% · Top 25%
Profitability
Return on assets2% · Below median
Net margin (TTM)−1% · Bottom 25%
Operating margin (TTM)1% · Bottom 25%
Growth and dividend
Revenue growth14% · Bottom 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Copper median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Ningbo Boway Alloy Material Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/601137
Frequently asked questions
Is Ningbo Boway Alloy Material Co Ltd (601137) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥23.99 versus a price of ¥20.49, about +17% upside (undervalued).
What is the fair value of 601137?
Our model-based fair value for Ningbo Boway Alloy Material Co Ltd is ¥23.99 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥20.49.
What is the quality score of 601137?
Ningbo Boway Alloy Material Co Ltd has a Quality Score of 39/100. 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 Ningbo Boway Alloy Material Co Ltd (601137)?
Our model-based price target is the fair value of ¥23.99 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ¥17.99, optimistic scenario ¥37.26. It is a calculation from audited fundamentals, not an analyst target.
What is the Ningbo Boway Alloy Material Co Ltd stock forecast for 2026?
Our models put fair value at ¥23.99, about +17% upside versus a price of ¥20.49 (undervalued). Cautious scenario ¥17.99, optimistic scenario ¥37.26. The calculation is refreshed regularly with new filings.
What is the revenue of Ningbo Boway Alloy Material Co Ltd (601137)?
Ningbo Boway Alloy Material Co Ltd reported trailing-twelve-month revenue of about 21.4B CNY (latest available figure, as of Sep 24, 2026).
Does Ningbo Boway Alloy Material Co Ltd pay a dividend?
Ningbo Boway Alloy Material Co Ltd currently shows a dividend yield of about 0.20% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Ningbo Boway Alloy Material Co Ltd (601137)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ningbo Boway Alloy Material Co Ltd it is ¥23.99 per share (as of Sep 24, 2026), against a price of ¥20.49. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Ningbo Boway Alloy Material Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 601137 trades below its calculated fair value: price ¥20.49, fair value ¥23.99, a gap of about +17% (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 601137?
No. The price is what the market pays today (¥20.49); the fair value is what the company's own numbers justify (¥23.99). For Ningbo Boway Alloy Material Co Ltd the two are ¥3.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ningbo Boway Alloy Material Co Ltd worth?
The market values Ningbo Boway Alloy Material Co Ltd at about 17.7B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥20.49; our models calculate a fair value of ¥23.99 per share.
What do the bullish and bearish scenarios say about 601137?
Our models span a range for Ningbo Boway Alloy Material Co Ltd: cautious scenario ¥17.99, base ¥23.99, optimistic ¥37.26 per share (as of Sep 24, 2026, price ¥20.49). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ningbo Boway Alloy Material Co Ltd (601137)?
Balance-sheet figures for Ningbo Boway Alloy Material Co Ltd (as of Sep 24, 2026): return on equity −3.1%, debt of 0.26 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 601137 from its 52-week high?
Ningbo Boway Alloy Material Co Ltd trades at ¥20.49, about 22% below its 52-week high of ¥26.41 and 26% above the low of ¥16.32 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥23.99 is for.
Which stocks are comparable to Ningbo Boway Alloy Material Co Ltd?
From the same area (Basic Materials) we also value Southern Copper Corporation, Freeport-McMoRan Inc, First Quantum Minerals Ltd, Lundin Mining Corporation, 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 Ningbo Boway Alloy Material Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥20.49, calculated fair value ¥23.99 (+17%), Quality Score 39/100, from 17 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 601137 calculated?
We run Ningbo Boway Alloy Material Co Ltd through 17 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 ¥23.99, 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 14.1 % above its aggregate fair value. Ningbo Boway Alloy Material Co Ltd currently trades 17 % 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 Ningbo Boway Alloy Material Co Ltd (601137)?
The closing price on Sep 23, 2026 was ¥20.49. Our model-based fair value is ¥23.99, about +17% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ningbo Boway Alloy Material Co Ltd right now?
A fairly wide model range (¥17.99 to ¥37.26) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Ningbo Boway Alloy Material Co Ltd (601137) come from?
Earnings per share at Ningbo Boway Alloy Material Co Ltd grew +23.5 % a year from 2013 to 2024. Broken into its drivers: revenue per share +13.4 %, EBIT margin +11.1 %, tax rate −0.2 %, residual (interest, one-offs) −1.8 %. 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 Ningbo Boway Alloy Material Co Ltd
How large is the market capitalisation of Ningbo Boway Alloy Material Co Ltd (601137)?
The market capitalisation of Ningbo Boway Alloy Material Co Ltd is 17.7B CNY (≈ $2.6B). 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 Ningbo Boway Alloy Material Co Ltd (601137)?
The price-to-sales ratio of Ningbo Boway Alloy Material Co Ltd is 0.77 (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 Ningbo Boway Alloy Material Co Ltd (601137)?
Earnings per share at Ningbo Boway Alloy Material Co Ltd are ¥−0.3400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ningbo Boway Alloy Material Co Ltd (601137)?
The dividend yield of Ningbo Boway Alloy Material Co Ltd is 0.2%. 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 Ningbo Boway Alloy Material Co Ltd (601137)?
The net margin of Ningbo Boway Alloy Material Co Ltd is 7.3% (fiscal year 2024). 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 Ningbo Boway Alloy Material Co Ltd (601137)?
The return on equity (ROE) of Ningbo Boway Alloy Material Co Ltd is −3.1% (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 Ningbo Boway Alloy Material Co Ltd (601137)?
On an EBIT basis the return on assets of Ningbo Boway Alloy Material Co Ltd is 5.8% (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 Ningbo Boway Alloy Material Co Ltd (601137)?
The operating margin of Ningbo Boway Alloy Material 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 Ningbo Boway Alloy Material Co Ltd (601137)?
Revenue at Ningbo Boway Alloy Material Co Ltd is growing +14.0% versus a year earlier (3y avg +22.9%). 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 Ningbo Boway Alloy Material Co Ltd (601137)?
Earnings per share at Ningbo Boway Alloy Material Co Ltd are growing −55.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ningbo Boway Alloy Material Co Ltd (601137) generate?
The free cash flow of Ningbo Boway Alloy Material Co Ltd is −409M CNY (fiscal year 2024). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ningbo Boway Alloy Material Co Ltd (601137) carry?
The net debt of Ningbo Boway Alloy Material Co Ltd is 1.8B CNY (fiscal year 2024). 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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