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CRRC Corporation (601766) Fair Value & Analysis

Industrials · CN · Market cap 162B CNY

CC CRRC Corporation 601766 · SHG
Price¥5.93
Fair Value¥9.53
Upside+60.7%
Quality51/100
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Healthy Growth
Thin margins · 4.9% net margin
Low debt · generates free cash flow
5.66% dividend yield
Ranks above peers (13/15)
Narrow moat 38/100
Evidence: Medium Range ¥6.93 – ¥12.13 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 19 days ago

Share price +10.0% over the past month.

A solid business, screening 61% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (¥6.93). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) 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)

¥8.82 ¥4.52 Fair Value ¥9.53 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range ¥4.52 – ¥8.82 · fair‑value band ¥6.93 – ¥12.13 · the ¥5.93 price screens below the ¥9.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

CRRC Corporation (601766) currently trades at ¥5.93, while our model-based Fair Value estimate is ¥9.53, implying the stock looks roughly 60.7% undervalued today. We read business quality at 51/100 (solid quality), in the Industrials 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: medium), always confirm before acting.

Over the trailing twelve months, CRRC Corporation generated revenue of 278B CNY at a net margin of 4.9%. Revenue grew 10.6% year over year. It earns a return on equity of 8.0%. Net debt stands at 21.1B CNY. Fundamentals as of Jul 19, 2026

Our scenario range runs from ¥6.93 (bear case) to ¥12.13 (bull case); at ¥5.93, 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 28% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -44% fair-value upside, at 61%, 601766 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
Growth DCF ¥10.61 ¥15.63 ¥23.60 80
Residual Income ¥5.89 ¥6.29 ¥6.92 76
Rev-Margin DCF ¥8.76 ¥12.46 ¥16.91 74
All 26 models by family
DCF Models
FCF DCF ¥10.53 ¥15.65 ¥23.81 38
Owner Earnings ¥8.63 ¥12.53 ¥18.76 31
5Y Revenue Exit ¥8.76 ¥12.45 ¥17.20 39
5Y EBITDA Exit ¥10.87 ¥16.52 ¥23.27 41
5Y P/E Exit ¥10.04 ¥14.94 ¥20.19 38
10Y Revenue Exit ¥9.14 ¥12.72 ¥17.66 36
10Y EBITDA Exit ¥10.67 ¥15.60 ¥22.43 37
10Y P/E Exit ¥10.14 ¥14.48 ¥20.02 35
Earnings-Based
Graham-Dodd ¥3.68 ¥13.30 ¥17.93 54
Lynch FV ¥3.15 ¥4.50 ¥5.85 50
PEG = 1.0 ¥3.15 ¥4.50 ¥5.85 46
EPV ¥7.35 ¥8.17 ¥8.88 59
Dividend Discount
Gordon GGM ¥3.47 ¥7.21 ¥11.43 70
DDM Multi-Stage ¥3.47 ¥6.08 ¥7.56 61
Multiples
P/E Multiple ¥8.13 ¥10.84 ¥13.55 63
P/S Multiple ¥6.91 ¥9.21 ¥11.51 58
P/B Multiple ¥6.91 ¥9.21 ¥11.51 55
EV/EBIT ¥10.74 ¥13.49 ¥16.24 53
EV/EBITDA ¥11.99 ¥15.16 ¥18.33 54
EV/Revenue ¥8.04 ¥10.43 ¥12.82 43
Asset-Based
NCAV (Graham) ¥3.54 ¥4.74 ¥7.08 50
Growth DCF
Growth DCF ¥10.61 ¥15.63 ¥23.60 80
Rev-Margin DCF ¥8.76 ¥12.46 ¥16.91 74
Economic Profit
Residual Income ¥5.89 ¥6.29 ¥6.92 76
ROIC Compounder ¥7.46 ¥8.96 ¥11.03 72
Growth Earnings
Growth-Adj P/E ¥5.80 ¥8.29 ¥10.78 68

Widest divergence: DCF Models (¥14.48) versus Earnings-Based (¥4.50). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 278B CNY
Revenue growth (YoY) +10.6%
Net margin 4.9%
Return on equity 8.0%
Free cash flow 16.6B CNY FY2025
P/E ratio 12.0
More key figures
Operating margin 9.5%
EPS (TTM) ¥0.4700
Dividend yield 4.1%
EPS growth (YoY) +9.1%
Net debt 21.1B CNY FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 54 · Market factors (momentum, volatility) 42

Profitability 29
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 84
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

CRRC Corporation Limited, with its subsidiaries, engages in the research and development, designing, manufacturing, refurbishment, sale, leasing, and technical servicing of railway locomotives in Mainland China and internationally.

Full company description

CRRC Corporation Limited, with its subsidiaries, engages in the research and development, designing, manufacturing, refurbishment, sale, leasing, and technical servicing of railway locomotives in Mainland China and internationally. It provides rolling stock, including electric and diesel locomotives, trains, EMU, DMU, trams and rail vehicles, metro cars, LRVs, coaches, wagons, and track machinery; components, such as motors, electric control equipment, locomotive components, vehicle components, and casting and forging; and other products comprising trucks, buses, construction machineries, turnouts, wind turbines, and intelligent machines. The company also offers MUs, urban rail transit vehicles, engineering machinery, various electromechanical equipment, electronic equipment and components, electric devices, and environmental protection equipment, as well as sales, technical services, and equipment leasing of related products. In addition, it provides information consultation, industry investment and management, and asset management services; and engages in the import and export, software development, logistics and trading, and financing activities. The company was formerly known as CSR Corporation Limited and changed its name to CRRC Corporation Limited in June 2015. CRRC Corporation Limited was incorporated in 2007 and is headquartered in Beijing, the People's Republic of China. CRRC Corporation Limited operates as a subsidiary of CRRC GROUP Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CRRC Corporation reported revenue of ¥272B in FY2025 versus ¥226B in FY2021, a compound +4.8%/yr. Reported net income was ¥13.2B in FY2025, compounding +6.4%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
272B CNY
Latest YoY
+10.4%
Avg. growth/yr (3Y)
+6.9%
Avg. growth/yr (5Y)
+3.6%
Avg. growth/yr (20Y)
+14.0%
Revenue +4.8%/yr
FY21 ¥226B
FY22 ¥223B
FY23 ¥234B
FY24 ¥246B
FY25 ¥272B
Net income +6.4%/yr
FY21 ¥10.3B
FY22 ¥11.7B
FY23 ¥11.7B
FY24 ¥12.4B
FY25 ¥13.2B

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Cite: Fair Value Calculator (2026). "CRRC Corporation Fair Value". https://www.fairvalue-calculator.com/stock/601766

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Railroads · 109 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 51 · Above median
Fair Value upside +61% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 2% · Below median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth 11% · Above median
Dividend yield (TTM) 5.7% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Railroads median · lower = cheaper

P/E (TTM) 12.0× · Cheaper than median
P/B 0.94× · Cheaper than median
P/S (TTM) 0.58× · Cheaper than median
P/FCF 1.5× · Cheaper than median
EV/EBITDA 4.0× · Cheaper than 75% of peers
PEG 1.31× · 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 27
FUTURE 53 · sector 20
PAST 32 · sector 31
HEALTH 98 · sector 88
DIVIDEND 100 · sector 41

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 Railroads stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $301.75 $144.60 -52%
CSX Corporation CSX $49.41 $12.85 -74%
Canadian Pacific Kansas City Limited CP $92.91 $35.00 -62%
Canadian National Railway Company CNI $128.22 $92.63 -28%
Norfolk Southern Corporation NSC $327.47 $117.90 -64%
Westinghouse Air Brake Technologies Corporation WAB $259.71 $144.80 -44%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.82 ¥5.65 +17%
Daqin Railway Co 601006 ¥4.85 ¥6.24 +29%
Hyundai Rotem Company 064350 167,700 KRW 125,182 KRW -25%
Getlink SE GET €18.51 €10.42 -44%

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Frequently asked questions

Is CRRC Corporation (601766) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of ¥9.53 versus a price of ¥5.93, about +61% (undervalued).
What is the fair value of 601766?
Our model-based fair value for CRRC Corporation is ¥9.53 (as of Jul 19, 2026), built from audited fundamentals. The current price is ¥5.93.
What is the quality score of 601766?
CRRC Corporation has a Quality Score of 51/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of CRRC Corporation (601766)?
CRRC Corporation reported trailing-twelve-month revenue of about 278B CNY (latest available figure, as of Jul 19, 2026).
What is the net profit margin of 601766?
The net profit margin of CRRC Corporation is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.
Does CRRC Corporation pay a dividend?
CRRC Corporation currently shows a dividend yield of about 4.08% relative to its recent price (as of Jul 19, 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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