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Chengdu Gas Group (603053) Fair Value & Analysis

Utilities · CN · Market cap 7.9B CNY

CG Chengdu Gas Group 603053 · SHG
Price¥8.86
Fair Value¥9.74
Upside+9.9%
Quality67/100
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Healthy Growth
Thin margins · 9.3% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Narrow moat 44/100
Evidence: High Range ¥7.31 – ¥12.18 Share as image

Fair value as of: Aug 10, 2026

From 25 valuation models · updated today

Share price +3.3% 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.
  • Our model range runs from ¥7.31 (bear) to ¥12.18 (bull), base ¥9.74. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 67/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥11.82 ¥7.96 Fair Value ¥9.74 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 ¥7.96 – ¥11.82 · fair‑value band ¥7.31 – ¥12.18 · the ¥8.86 price screens below the ¥9.74 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Chengdu Gas Group (603053) currently trades at ¥8.86, while our model-based Fair Value estimate is ¥9.74, implying the stock looks roughly 9.9% fairly valued today. The Quality Score stands at 67/100 (solid quality), in the Utilities 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, Chengdu Gas Group generated revenue of 4.8B CNY at a net margin of 9.3%. Revenue declined 3.7% year over year. It earns a return on equity of 10.4%. The balance sheet holds a net cash position of 2.8B CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥7.31 (bear case) to ¥12.18 (bull case); at ¥8.86, 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 25% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at 10%, 603053 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 ¥9.89 ¥12.38 ¥15.64 80
Residual Income ¥4.76 ¥5.24 ¥7.11 76
Rev-Margin DCF ¥8.69 ¥11.29 ¥14.11 74
All 25 models by family
DCF Models
FCF DCF ¥9.74 ¥12.45 ¥16.17 38
Owner Earnings ¥10.79 ¥13.95 ¥18.30 31
5Y Revenue Exit ¥8.69 ¥11.21 ¥14.29 39
5Y EBITDA Exit ¥9.21 ¥12.14 ¥15.40 41
5Y P/E Exit ¥9.77 ¥13.14 ¥16.49 38
10Y Revenue Exit ¥8.90 ¥11.20 ¥14.01 36
10Y EBITDA Exit ¥9.36 ¥11.81 ¥14.81 37
10Y P/E Exit ¥9.70 ¥12.47 ¥15.59 35
Earnings-Based
Graham-Dodd ¥3.68 ¥8.95 ¥11.56 54
PEG = 1.0 ¥1.59 ¥2.27 ¥2.96 46
EPV ¥7.47 ¥8.11 ¥8.67 59
Dividend Discount
Gordon GGM ¥2.63 ¥4.60 ¥6.97 70
DDM Multi-Stage ¥2.63 ¥3.88 ¥5.19 61
Multiples
P/E Multiple ¥7.31 ¥9.74 ¥12.18 63
P/S Multiple ¥6.90 ¥9.20 ¥11.50 58
P/B Multiple ¥6.90 ¥9.20 ¥11.50 55
EV/EBIT ¥9.55 ¥11.61 ¥13.66 53
EV/EBITDA ¥9.68 ¥11.78 ¥13.88 54
EV/Revenue ¥8.37 ¥10.51 ¥12.65 43
Asset-Based
NCAV (Graham) ¥2.75 ¥3.68 ¥5.49 50
Growth DCF
Growth DCF ¥9.89 ¥12.38 ¥15.64 80
Rev-Margin DCF ¥8.69 ¥11.29 ¥14.11 74
Economic Profit
Residual Income ¥4.76 ¥5.24 ¥7.11 76
ROIC Compounder ¥7.65 ¥8.57 ¥9.56 72
Growth Earnings
Growth-Adj P/E ¥5.65 ¥8.08 ¥10.50 68

Widest divergence: DCF Models (¥12.14) versus Asset-Based (¥3.68). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 4.8B CNY
Revenue growth (YoY) -3.7%
Net margin 9.3%
Return on equity 10.4%
Free cash flow 553M CNY FY2025
P/E ratio 16.7
More key figures
Operating margin 10.9%
EPS (TTM) ¥0.5300
EPS growth (YoY) -6.9%
Net cash 2.8B CNY FY2024

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

Quality Score breakdown

Overall quality 67/100

Of which business quality 66 · Market factors (momentum, volatility) 43

Profitability 39
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 22
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

Chengdu Gas Group Corporation Ltd. engages in the transmission, distribution, and sale of urban gas in China. The company is involved in the supply of urban gas; urban gas engineering construction; pipeline installation; fire protection facility engineering construction; supply of gas-specific equipment and materials; flow meter calibration; gas appliance …

Full company description

Chengdu Gas Group Corporation Ltd. engages in the transmission, distribution, and sale of urban gas in China. The company is involved in the supply of urban gas; urban gas engineering construction; pipeline installation; fire protection facility engineering construction; supply of gas-specific equipment and materials; flow meter calibration; gas appliance testing; urban gas pressure vessel testing; intelligent instruments and meters; research and development, production, sales, technology transfer, and services of computer software and hardware; technical services and consulting for electronic products; and other industrial investments. The company was formerly known as Chengdu Gas Company. Chengdu Gas Group Corporation Ltd. was founded in 1967 and is based in Chengdu, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chengdu Gas Group reported revenue of ¥5.4B in FY2025 versus ¥4.4B in FY2021, a compound +5.1%/yr. Reported net income was ¥481M in FY2025, compounding −0.4%/yr from FY2021.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
5.4B CNY
Latest YoY
+1.5%
Avg. growth/yr (3Y)
+3.4%
Avg. growth/yr (5Y)
+5.1%
Avg. growth/yr (10Y)
+3.5%
Revenue +5.1%/yr
FY21 ¥4.4B
FY22 ¥4.8B
FY23 ¥5.2B
FY24 ¥5.3B
FY25 ¥5.4B
Net income −0.4%/yr
FY21 ¥489M
FY22 ¥492M
FY23 ¥526M
FY24 ¥489M
FY25 ¥481M

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Cite: Fair Value Calculator (2026). "Chengdu Gas Group Fair Value". https://www.fairvalue-calculator.com/stock/603053

Peer Group

Utilities - Regulated Gas · 104 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 67 · Top 25%
Fair Value upside +10% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 3% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth -4% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%

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

P/E (TTM) 16.7× · Cheaper than median
P/B 1.61× · Pricier than median
P/S (TTM) 1.64× · Pricier than median
P/FCF 2.1× · Pricier than median
EV/EBITDA 6.8× · 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 47 · sector 22
FUTURE 0 · sector 0
PAST 42 · sector 34
HEALTH 100 · sector 85
DIVIDEND 0 · sector 67

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 Gas stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
Naturgy Energy Group NTGY €28.84 €35.80 +24%
Atmos Energy Corporation ATO $177.68 $85.67 -52%
NiSource Inc NI $47.07 $28.59 -39%
Uniper SE UN0 €42.80 €49.13 +15%
The Hong Kong and China Gas Company 0003 HK$7.03 HK$5.08 -28%
Italgas S.p.A IG €9.98 €8.11 -19%
GAIL (India) Limited GAIL ₹171.71 ₹147.74 -14%
Adani Total Gas Limited ATGL ₹723.90 ₹101.36 -86%
ENN Natural Gas Co 600803 ¥17.30 ¥25.71 +49%
UGI Corporation UGI $35.84 $27.13 -24%

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Frequently asked questions

Is Chengdu Gas Group (603053) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥9.74 versus a price of ¥8.86, about +10% (fairly valued).
What is the fair value of 603053?
Our model-based fair value for Chengdu Gas Group is ¥9.74 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥8.86.
What is the quality score of 603053?
Chengdu Gas Group has a Quality Score of 67/100. 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 Chengdu Gas Group (603053)?
Chengdu Gas Group reported trailing-twelve-month revenue of about 4.8B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603053?
The net profit margin of Chengdu Gas Group is about 9.3%, meaning it keeps roughly 9.3% of revenue as net income. Based on the latest reported figures.

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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