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Jiangsu Phoenix Publishing & Media Corporation (601928) Fair Value & Analysis

Communication Services · CN · Market cap 23.4B CNY

JP Jiangsu Phoenix Publishing & Media Corporation 601928 · SHG
Price¥9.20
Fair Value¥10.07
Upside+9.5%
Quality65/100
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Weak Growth
Solidly profitable · 14.3% net margin
Low debt · generates free cash flow
5.32% dividend yield
Ranks above peers (9/14)
Moderate moat 53/100
Evidence: High Range ¥6.84 – ¥14.99 Share as image

Fair value as of: Aug 10, 2026

From 25 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥11.50 to ¥10.07 (−12.4%) since Jul 11, 2026. Share price +0.4% 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 (¥6.84 to ¥14.99) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥14.71 ¥5.32 Fair Value ¥10.07 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 ¥5.32 – ¥14.71 · fair‑value band ¥6.84 – ¥14.99 · the ¥9.20 price screens below the ¥10.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Jiangsu Phoenix Publishing & Media Corporation (601928) currently trades at ¥9.20, while our model-based Fair Value estimate is ¥10.07, implying the stock looks roughly 9.5% fairly valued 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, Jiangsu Phoenix Publishing & Media Corporation generated revenue of 12.0B CNY at a net margin of 14.3%. Revenue declined 10.6% year over year. It earns a return on equity of 8.4%. The balance sheet holds a net cash position of 1.7B CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥6.84 (bear case) to ¥14.99 (bull case); at ¥9.20, 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 23% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 15% fair-value upside, at 9%, 601928 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 ¥6.21 ¥8.50 ¥11.61 80
Residual Income ¥6.77 ¥7.39 ¥9.26 76
Rev-Margin DCF ¥6.02 ¥8.99 ¥12.16 74
All 25 models by family
DCF Models
FCF DCF ¥6.04 ¥8.50 ¥11.98 38
Owner Earnings ¥9.08 ¥12.87 ¥18.25 31
5Y Revenue Exit ¥6.02 ¥8.93 ¥12.51 39
5Y EBITDA Exit ¥6.67 ¥10.09 ¥13.89 41
5Y P/E Exit ¥8.96 ¥14.15 ¥19.32 38
10Y Revenue Exit ¥5.81 ¥8.41 ¥11.61 36
10Y EBITDA Exit ¥6.39 ¥9.19 ¥12.61 37
10Y P/E Exit ¥7.82 ¥11.93 ¥16.56 35
Earnings-Based
Graham-Dodd ¥4.80 ¥11.08 ¥14.22 54
PEG = 1.0 ¥1.87 ¥2.67 ¥3.47 46
EPV ¥4.15 ¥4.77 ¥5.31 59
Dividend Discount
Gordon GGM ¥5.69 ¥9.57 ¥14.18 70
DDM Multi-Stage ¥5.69 ¥8.38 ¥11.37 61
Multiples
P/E Multiple ¥11.64 ¥15.52 ¥19.40 63
P/S Multiple ¥8.99 ¥11.99 ¥14.99 58
P/B Multiple ¥8.99 ¥11.99 ¥14.99 55
EV/EBIT ¥8.27 ¥10.88 ¥13.49 53
EV/EBITDA ¥7.98 ¥10.49 ¥12.99 54
EV/Revenue ¥6.39 ¥8.93 ¥11.47 43
Asset-Based
NCAV (Graham) ¥3.92 ¥5.25 ¥7.84 50
Growth DCF
Growth DCF ¥6.21 ¥8.50 ¥11.61 80
Rev-Margin DCF ¥6.02 ¥8.99 ¥12.16 74
Economic Profit
Residual Income ¥6.77 ¥7.39 ¥9.26 76
ROIC Compounder ¥4.15 ¥4.77 ¥5.31 72
Growth Earnings
Growth-Adj P/E ¥8.74 ¥12.48 ¥16.23 68

Widest divergence: Growth Earnings (¥12.48) versus Earnings-Based (¥4.77). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 12.0B CNY
Revenue growth (YoY) -10.6%
Net margin 14.3%
Return on equity 8.4%
Free cash flow 1.3B CNY FY2025
P/E ratio 13.5
More key figures
Operating margin 11.3%
EPS (TTM) ¥0.6800
Dividend yield 5.3%
EPS growth (YoY) -16.5%
Net cash 1.7B CNY FY2024

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 46

Profitability 40
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 17
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 Phoenix Publishing & Media Corporation Limited engages in the editing, publishing, and distribution of books, newspapers, electronic publications, and audio-visual products in China.

Full company description

Jiangsu Phoenix Publishing & Media Corporation Limited engages in the editing, publishing, and distribution of books, newspapers, electronic publications, and audio-visual products in China. The company also engages in the publication and distribution of teaching aids; distribution of general books, textbooks, and teaching aids; sale of teaching equipment; logistics distribution; and the cultural and commercial real estate operation. In addition, it provides data related IT services, comprising data center and broadband resources, operation and maintenance, computer room leasing, bandwidth operation, and cloud services; and production, distribution, artist brokerage, and related service for TV series and movies. Further, the company engages in the research, development, and sale of teaching software, virtual training software, network platforms, and educational apps; development and operation of mobile games; and act as an agent of products of other mobile game companies. Additionally, it operates a chain of bookstores; and sells its products through e-commerce, group supply direct sales, and mobile supply. The company was founded in 1999 and is headquartered in Nanjing, China. Jiangsu Phoenix Publishing & Media Corporation Limited is a subsidiary of Jiangsu Phoenix Publishing & Media Group Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Phoenix Publishing & Media Corporation reported revenue of ¥12.3B in FY2025 versus ¥12.5B in FY2021, a compound −0.3%/yr. Reported net income was ¥1.8B in FY2025, compounding −7.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
12.3B CNY
Latest YoY
−9.3%
Avg. growth/yr (3Y)
−3.2%
Avg. growth/yr (5Y)
+0.3%
Avg. growth/yr (17Y)
+6.0%
Revenue −0.3%/yr
FY21 ¥12.5B
FY22 ¥13.6B
FY23 ¥13.6B
FY24 ¥13.6B
FY25 ¥12.3B
Net income −7.5%/yr
FY21 ¥2.5B
FY22 ¥2.1B
FY23 ¥3.0B
FY24 ¥1.6B
FY25 ¥1.8B

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Cite: Fair Value Calculator (2026). "Jiangsu Phoenix Publishing & Media Corporation Fair Value". https://www.fairvalue-calculator.com/stock/601928

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 +10% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 2% · Above median
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 11% · Above median
Revenue growth -11% · Bottom 25%
Dividend yield (TTM) 5.3% · Top 25%

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 13.5× · Pricier than median
P/B 1.17× · Pricier than median
P/S (TTM) 1.95× · Pricier than 75% of peers
P/FCF 2.6× · Cheaper than median
EV/EBITDA 15.1× · 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 46 · sector 39
FUTURE 0 · sector 0
PAST 34 · sector 21
HEALTH 100 · sector 99
DIVIDEND 100 · 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 Jiangsu Phoenix Publishing & Media Corporation (601928) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥10.07 versus a price of ¥9.20, about +9% (fairly valued).
What is the fair value of 601928?
Our model-based fair value for Jiangsu Phoenix Publishing & Media Corporation is ¥10.07 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥9.20.
What is the quality score of 601928?
Jiangsu Phoenix Publishing & Media Corporation 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 Jiangsu Phoenix Publishing & Media Corporation (601928)?
Jiangsu Phoenix Publishing & Media Corporation reported trailing-twelve-month revenue of about 12.0B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 601928?
The net profit margin of Jiangsu Phoenix Publishing & Media Corporation is about 14.3%, meaning it keeps roughly 14.3% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Phoenix Publishing & Media Corporation pay a dividend?
Jiangsu Phoenix Publishing & Media Corporation currently shows a dividend yield of about 5.42% 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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