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China Coal Energy Company (601898) Fair Value & Analysis

Energy · CN · Market cap 166B CNY

CC China Coal Energy Company 601898 · SHG
Price¥14.20
Fair Value¥13.97
Upside-1.6%
Quality53/100
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Weak Growth
Solidly profitable · 12.3% net margin
Low debt · generates free cash flow
3.05% dividend yield
Ranks above peers (11/15)
Moderate moat 50/100
Evidence: Medium Range ¥9.98 – ¥20.78 Share as image

Fair value as of: Jul 19, 2026

From 25 valuation models · updated 19 days ago

Fair value updated Jul 19, 2026, revised from ¥20.32 to ¥13.97 (−31.3%) since Jul 11, 2026. Share price +7.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (¥9.98 to ¥20.78) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥19.36 ¥4.17 Fair Value ¥13.97 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 ¥4.17 – ¥19.36 · fair‑value band ¥9.98 – ¥20.78 · the ¥14.20 price screens above the ¥13.97 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

China Coal Energy Company (601898) currently trades at ¥14.20, while our model-based Fair Value estimate is ¥13.97, implying the stock looks roughly 1.6% fairly valued today. We read business quality at 53/100 (solid quality), in the Energy 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: medium).

Over the trailing twelve months, China Coal Energy Company generated revenue of 144B CNY at a net margin of 12.3%. Revenue declined 10.9% year over year. It earns a return on equity of 10.7%. Net debt stands at 76.6B CNY. Fundamentals as of Jul 19, 2026

Our scenario range runs from ¥9.98 (bear case) to ¥20.78 (bull case); at ¥14.20, 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 28% below its 52-week high and 37% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -12% fair-value upside, at -2%, 601898 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 ¥8.20 ¥11.82 ¥16.79 80
Residual Income ¥10.95 ¥12.59 ¥22.87 76
Rev-Margin DCF ¥13.21 ¥21.94 ¥31.27 74
All 25 models by family
DCF Models
FCF DCF ¥7.95 ¥11.87 ¥17.49 38
Owner Earnings ¥4.91 ¥7.45 ¥11.09 31
5Y Revenue Exit ¥13.21 ¥21.96 ¥32.88 39
5Y EBITDA Exit ¥17.66 ¥29.92 ¥43.76 41
5Y P/E Exit ¥13.76 ¥22.94 ¥32.16 38
10Y Revenue Exit ¥10.64 ¥18.10 ¥27.58 36
10Y EBITDA Exit ¥13.95 ¥23.49 ¥35.54 37
10Y P/E Exit ¥11.51 ¥18.76 ¥27.05 35
Earnings-Based
Graham-Dodd ¥9.17 ¥22.13 ¥28.58 54
PEG = 1.0 ¥3.91 ¥5.58 ¥7.26 46
EPV ¥14.70 ¥17.27 ¥19.51 59
Dividend Discount
Gordon GGM ¥3.89 ¥6.94 ¥10.85 70
DDM Multi-Stage ¥3.89 ¥5.82 ¥7.93 61
Multiples
P/E Multiple ¥20.23 ¥26.98 ¥33.72 63
P/S Multiple ¥17.20 ¥22.93 ¥28.66 58
P/B Multiple ¥17.20 ¥22.93 ¥28.66 55
EV/EBIT ¥25.96 ¥34.85 ¥43.73 53
EV/EBITDA ¥26.52 ¥35.59 ¥44.66 54
EV/Revenue ¥17.28 ¥24.98 ¥32.67 43
Asset-Based
NCAV (Graham) ¥6.04 ¥8.09 ¥12.08 50
Growth DCF
Growth DCF ¥8.20 ¥11.82 ¥16.79 80
Rev-Margin DCF ¥13.21 ¥21.94 ¥31.27 74
Economic Profit
Residual Income ¥10.95 ¥12.59 ¥22.87 76
ROIC Compounder ¥15.09 ¥18.79 ¥23.05 72
Growth Earnings
Growth-Adj P/E ¥15.49 ¥22.12 ¥28.76 68

Widest divergence: Multiples (¥24.98) versus Dividend Discount (¥5.82). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 144B CNY
Revenue growth (YoY) -10.9%
Net margin 12.3%
Return on equity 10.7%
Free cash flow 10.7B CNY FY2025
P/E ratio 15.4
More key figures
Operating margin 16.0%
EPS (TTM) ¥1.09
Dividend yield 2.2%
EPS growth (YoY) -3.3%
Net debt 76.6B CNY FY2025

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

Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 50

Profitability 37
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 51
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

China Coal Energy Company Limited, together with its subsidiaries, engages in the production and sale of coal in China and internationally. The company operates through four segments: Coal, Coal Chemical, Coal Mining Equipment, and Finance.

Full company description

China Coal Energy Company Limited, together with its subsidiaries, engages in the production and sale of coal in China and internationally. The company operates through four segments: Coal, Coal Chemical, Coal Mining Equipment, and Finance. It offers thermal and coking coal products; polyolefin, methanol, urea, and ammonium nitrate; and coal mining machinery and equipment. The company also engages in financial activities; thermal power generation; aluminum processing; import of equipment and related parts; bidding services; iron ore business; road transportation; and waste disposal. It exports its products. The company was founded in 2006 and is headquartered in Beijing, China. China Coal Energy Company Limited operates as a subsidiary of China National Coal Group Corporation.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Coal Energy Company reported revenue of ¥147B in FY2025 versus ¥240B in FY2021, a compound −11.5%/yr. Reported net income was ¥17.9B in FY2025, compounding +6.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
147B CNY
Latest YoY
−22.3%
Avg. growth/yr (3Y)
−12.6%
Avg. growth/yr (5Y)
+0.9%
Avg. growth/yr (21Y)
+9.4%
Revenue −11.5%/yr
FY21 ¥240B
FY22 ¥221B
FY23 ¥193B
FY24 ¥189B
FY25 ¥147B
Net income +6.8%/yr
FY21 ¥13.7B
FY22 ¥18.3B
FY23 ¥19.5B
FY24 ¥19.3B
FY25 ¥17.9B

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Cite: Fair Value Calculator (2026). "China Coal Energy Company Fair Value". https://www.fairvalue-calculator.com/stock/601898

Peer Group

Thermal Coal · 101 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 53 · Above median
Fair Value upside −2% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 4% · Above median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth -11% · Below median
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.28× · Higher than median

Valuation Multiples vs Thermal Coal median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than median
P/B 1.04× · Cheaper than median
P/S (TTM) 1.16× · Pricier than median
P/FCF 2.3× · Cheaper than median
EV/EBITDA 4.9× · Cheaper than median
PEG 2.88× · Pricier than 75% of peers

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 31 · sector 25
FUTURE 0 · sector 0
PAST 43 · sector 21
HEALTH 86 · sector 92
DIVIDEND 61 · sector 27

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Coal Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

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Frequently asked questions

Is China Coal Energy Company (601898) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of ¥13.97 versus a price of ¥14.20, about −2% (fairly valued).
What is the fair value of 601898?
Our model-based fair value for China Coal Energy Company is ¥13.97 (as of Jul 19, 2026), built from audited fundamentals. The current price is ¥14.20.
What is the quality score of 601898?
China Coal Energy Company has a Quality Score of 53/100. 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 China Coal Energy Company (601898)?
China Coal Energy Company reported trailing-twelve-month revenue of about 144B CNY (latest available figure, as of Jul 19, 2026).
What is the net profit margin of 601898?
The net profit margin of China Coal Energy Company is about 12.3%, meaning it keeps roughly 12.3% of revenue as net income. Based on the latest reported figures.
Does China Coal Energy Company pay a dividend?
China Coal Energy Company currently shows a dividend yield of about 2.23% 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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