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Jiangsu Jiangnan Water Co (601199) Fair Value & Analysis

Utilities · CN · Market cap 5.2B CNY

JJ Jiangsu Jiangnan Water Co 601199 · SHG
Price¥5.51
Fair Value¥4.86
Upside-11.8%
Quality59/100
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Mixed Growth
Highly profitable · 24.6% net margin
Low debt · generates free cash flow
2.18% dividend yield
Mixed vs. peers (8/14)
Moderate moat 56/100
Evidence: High Range ¥3.95 – ¥7.35 Share as image

Fair value as of: Aug 10, 2026

From 26 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥5.65 to ¥4.86 (−14.0%) since Jul 11, 2026. Share price −5.2% over the past month.

A solid business, but screening 12% overvalued on our models.

What matters now

  • A fairly wide model range (¥3.95 to ¥7.35) leaves room in how you read the outcome.
  • Our model range runs from ¥3.95 (bear) to ¥7.35 (bull), base ¥4.86. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 59/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥8.27 ¥3.25 Fair Value ¥4.86 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 10, 2026.

How to read this chart

60‑month range ¥3.25 – ¥8.27 · fair‑value band ¥3.95 – ¥7.35 · the ¥5.51 price screens above the ¥4.86 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Jiangsu Jiangnan Water Co (601199) currently trades at ¥5.51, while our model-based Fair Value estimate is ¥4.86, implying the stock looks roughly 11.8% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Jiangsu Jiangnan Water Co generated revenue of 1.5B CNY at a net margin of 24.6%. Revenue grew 2.8% year over year. It earns a return on equity of 7.9%. The balance sheet holds a net cash position of 204M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥3.95 (bear case) to ¥7.35 (bull case); at ¥5.51, the current price sits within 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 18% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -10% fair-value upside, at -12%, 601199 screens richer 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 ¥2.37 ¥3.52 ¥5.26 80
Residual Income ¥4.06 ¥4.33 ¥4.79 76
Rev-Margin DCF ¥2.84 ¥4.54 ¥6.60 74
All 26 models by family
DCF Models
FCF DCF ¥2.37 ¥3.56 ¥5.43 38
Owner Earnings ¥5.92 ¥9.36 ¥14.70 31
5Y Revenue Exit ¥2.84 ¥4.57 ¥6.87 39
5Y EBITDA Exit ¥3.63 ¥6.12 ¥9.15 41
5Y P/E Exit ¥4.25 ¥7.34 ¥10.74 38
10Y Revenue Exit ¥2.56 ¥4.10 ¥6.33 36
10Y EBITDA Exit ¥3.15 ¥5.18 ¥8.11 37
10Y P/E Exit ¥3.54 ¥6.03 ¥9.34 35
Earnings-Based
Graham-Dodd ¥2.69 ¥10.19 ¥13.79 54
Lynch FV ¥2.47 ¥3.53 ¥4.59 50
PEG = 1.0 ¥2.47 ¥3.53 ¥4.59 46
EPV ¥2.43 ¥2.75 ¥3.02 59
Dividend Discount
Gordon GGM ¥1.42 ¥2.84 ¥4.29 70
DDM Multi-Stage ¥1.42 ¥2.45 ¥2.99 61
Multiples
P/E Multiple ¥5.34 ¥7.11 ¥8.89 63
P/S Multiple ¥2.92 ¥3.90 ¥4.87 58
P/B Multiple ¥5.04 ¥6.72 ¥8.40 55
EV/EBIT ¥3.99 ¥5.17 ¥6.35 53
EV/EBITDA ¥4.73 ¥6.16 ¥7.58 54
EV/Revenue ¥3.18 ¥4.35 ¥5.52 43
Asset-Based
NCAV (Graham) ¥2.47 ¥3.31 ¥4.94 50
Growth DCF
Growth DCF ¥2.37 ¥3.52 ¥5.26 80
Rev-Margin DCF ¥2.84 ¥4.54 ¥6.60 74
Economic Profit
Residual Income ¥4.06 ¥4.33 ¥4.79 76
ROIC Compounder ¥2.43 ¥2.75 ¥3.02 72
Growth Earnings
Growth-Adj P/E ¥4.13 ¥5.90 ¥7.66 68

Widest divergence: Growth Earnings (¥5.90) versus Dividend Discount (¥2.45). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.5B CNY
Revenue growth (YoY) +2.8%
Net margin 24.6%
Return on equity 7.9%
Free cash flow 157M CNY FY2025
P/E ratio 14.5
More key figures
Operating margin 18.3%
EPS (TTM) ¥0.3900
Dividend yield 2.2%
EPS growth (YoY) -9.6%
Net cash 204M CNY FY2024

Figures from reported company fundamentals · as of Aug 10, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 57 · Market factors (momentum, volatility) 48

Profitability 40
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 82
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

Jiangsu Jiangnan Water Co., Ltd. supplies water in China. The company engages in the drainage and water treatment-related business; water supply engineering design and technical consulting; water quality testing; water meter measurement and testing; and public infrastructure investing business.

Full company description

Jiangsu Jiangnan Water Co., Ltd. supplies water in China. The company engages in the drainage and water treatment-related business; water supply engineering design and technical consulting; water quality testing; water meter measurement and testing; and public infrastructure investing business. The company owns 3 surface water plants with a daily water supply capacity of 1.1 million cubic meters. The company also manages and constructs drainage pipe network and drainage pumping stations; operation management, inspection, maintenance and dredging of drainage network facilities and drainage pumping stations; operates and manages sewage treatment related facilities; provides sewage treatment and industrial water purification services; designs and constructs water supply and drainage pipelines; installs water supply and drainage equipment; and offers pipeline repairs and other services. Jiangsu Jiangnan Water Co., Ltd. was founded in 1966 and is based in Jiangyin, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Jiangnan Water Co reported revenue of ¥1.5B in FY2025 versus ¥1.1B in FY2021, a compound +7.0%/yr. Reported net income was ¥370M in FY2025, compounding +7.5%/yr from FY2021.

Growth Quality 68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.5B CNY
Latest YoY
−4.9%
Avg. growth/yr (3Y)
+4.8%
Avg. growth/yr (5Y)
+8.9%
Avg. growth/yr (18Y)
+10.8%
Revenue +7.0%/yr
FY21 ¥1.1B
FY22 ¥1.3B
FY23 ¥1.4B
FY24 ¥1.5B
FY25 ¥1.5B
Net income +7.5%/yr
FY21 ¥276M
FY22 ¥280M
FY23 ¥323M
FY24 ¥402M
FY25 ¥370M

601199 screens 12% overvalued. Compare with American Water Works Company →

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Cite: Fair Value Calculator (2026). "Jiangsu Jiangnan Water Co Fair Value". https://www.fairvalue-calculator.com/stock/601199

Peer Group

Utilities - Regulated Water · 67 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 59 · Top 25%
Fair Value upside −12% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 2% · Below median
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 18% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 2.2% · Below median
Debt / equity 0.14× · Lower than 75% of peers

Valuation Multiples vs Utilities - Regulated Water median · lower = cheaper

P/E (TTM) 14.1× · Cheaper than median
P/B 1.12× · Cheaper than median
P/S (TTM) 3.51× · Pricier than median
P/FCF 4.9× · Pricier than median
EV/EBITDA 9.9× · 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 18 · sector 7
FUTURE 14 · sector 28
PAST 31 · sector 29
HEALTH 93 · sector 66
DIVIDEND 44 · sector 49

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 Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
American Water Works Company AWK $134.33 $65.80 -51%
SBSP3 SBSP3 R$29.22 R$31.23 +7%
SBS SBS $5.79 $5.21 -10%
Essential Utilities, Inc WTRG $38.59 $21.81 -43%
CSMG3 CSMG3 R$66.10 R$60.17 -9%
Grandblue Environment Co 600323 ¥29.42 ¥33.29 +13%
American States Water Company AWR $85.01 $48.02 -44%
Chengdu Xingrong Environment Co 000598 ¥6.97 ¥10.74 +54%
California Water Service Group CWT $49.73 $33.56 -33%
Chongqing Water Group 601158 ¥4.12 ¥2.77 -33%

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Frequently asked questions

Is Jiangsu Jiangnan Water Co (601199) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥4.86 versus a price of ¥5.51, about −12% (overvalued).
What is the fair value of 601199?
Our model-based fair value for Jiangsu Jiangnan Water Co is ¥4.86 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥5.51.
What is the quality score of 601199?
Jiangsu Jiangnan Water Co has a Quality Score of 59/100. 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 Jiangsu Jiangnan Water Co (601199)?
Jiangsu Jiangnan Water Co reported trailing-twelve-month revenue of about 1.5B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 601199?
The net profit margin of Jiangsu Jiangnan Water Co is about 24.6%, meaning it keeps roughly 24.6% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Jiangnan Water Co pay a dividend?
Jiangsu Jiangnan Water Co currently shows a dividend yield of about 2.15% relative to its recent price (as of Aug 10, 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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