ZJMI Environmental Energy Co. Ltd. (603071) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of ZJMI Environmental Energy Co. Ltd. ¥17.83, price ¥12.30, upside +45.0%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
57‑month range ¥9.65 – ¥27.15 · fair‑value band ¥13.02 – ¥22.74 · the ¥12.30 price screens below the ¥17.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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ZJMI Environmental Energy Co., Ltd., together with its subsidiaries, sells coal products in China and internationally. It operates through three segments: Coal Distribution, Combined Heat and Power, and New Energy.
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ZJMI Environmental Energy Co., Ltd., together with its subsidiaries, sells coal products in China and internationally. It operates through three segments: Coal Distribution, Combined Heat and Power, and New Energy. The company engages in coal mining, circulation, and consumption, as well as offers thermal and coking coals; and generation of steam and compressed air through burning coal, biomass, and sludge, as well as provides general solid waste disposal services. It is also involved in the investment, construction, operation, management, and EPC general contracting services for wind, solar, and energy storage charging stations; research, development, production, and sale of energy storage equipment; and molten salt energy storage, electrochemical energy storage, and resource recycling, including tire pyrolysis, sludge co-firing, and biomass incineration power generation. The company was formerly known as Zhejiang Materials Fuel Group Co., Ltd. and changed its name to ZJMI Environmental Energy Co., Ltd. in January 2012. ZJMI Environmental Energy Co., Ltd. was founded in 1950 and is based in Hangzhou, China. The company operates as a subsidiary of Wuchan Zhongda Group Co.,Ltd.
Stock analysis
ZJMI Environmental Energy Co. Ltd. (603071) currently trades at ¥12.30, while our model-based Fair Value estimate is ¥17.83, implying the stock looks roughly 31.0% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥37.81 per share, and 19 of the 24 models we run sit above the ¥12.30 price.
Bear case: the Dividend Discount group reads lowest at ¥5.55, and 5 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥13.02 (bear) to ¥22.74 (bull), the price of ¥12.30 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Energy sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
ZJMI Environmental Energy Co. Ltd. reported revenue of 37.3B CNY in FY2025 versus 59.9B CNY in FY2021, a compound −11.2%/yr. Reported net income was 638M CNY in FY2025, compounding −10.8%/yr from FY2021.
Key figures
Market cap 6.9B CNY (≈ $1.0B) · P/E ratio 10.5 · P/S ratio 0.18 · EPS (TTM) ¥1.17 · Dividend yield 3.8% · Net margin 1.7% · Return on equity 12.0% · Return on assets (EBIT) 14.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 16% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at 45%, 603071 screens cheaper than that median.
Fair Value models
Bear ¥13.02Fair Value ¥17.83Bull ¥22.74
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.5121 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.6%
Dividend (yield on the price)3.8%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 4%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−23.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −25.0% a year for the price.
Compare ZJMI Environmental Energy Co. Ltd. with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Thermal Coal · 100 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+45% · Top 25%
Profitability
Return on equity (TTM)12% · Top 25%
Return on assets5% · Above median
Net margin (TTM)2% · Below median
Operating margin (TTM)7% · Below median
Growth and dividend
Revenue growth−22% · Bottom 25%
Dividend yield (TTM)3.8% · Above median
Balance sheet
Debt / equity0.13× · Below median
Valuation Multiplesvs Thermal Coal median · lower = cheaper
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Cite: Fair Value Calculator (2026). "ZJMI Environmental Energy Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/603071
Frequently asked questions
Is ZJMI Environmental Energy Co. Ltd. (603071) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥17.83 versus a price of ¥12.30, about +45% upside (undervalued).
What is the fair value of 603071?
Our model-based fair value for ZJMI Environmental Energy Co. Ltd. is ¥17.83 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥12.30.
What is the quality score of 603071?
ZJMI Environmental Energy Co. Ltd. has a Quality Score of 63/100. 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 price target for ZJMI Environmental Energy Co. Ltd. (603071)?
Our model-based price target is the fair value of ¥17.83 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ¥13.02, optimistic scenario ¥22.74. It is a calculation from audited fundamentals, not an analyst target.
What is the ZJMI Environmental Energy Co. Ltd. stock forecast for 2026?
Our models put fair value at ¥17.83, about +45% upside versus a price of ¥12.30 (undervalued). Cautious scenario ¥13.02, optimistic scenario ¥22.74. The calculation is refreshed regularly with new filings.
What is the revenue of ZJMI Environmental Energy Co. Ltd. (603071)?
ZJMI Environmental Energy Co. Ltd. reported trailing-twelve-month revenue of about 35.1B CNY (latest available figure, as of Sep 24, 2026).
Does ZJMI Environmental Energy Co. Ltd. pay a dividend?
ZJMI Environmental Energy Co. Ltd. currently shows a dividend yield of about 3.82% relative to its recent price (as of Sep 24, 2026).
What growth is priced into ZJMI Environmental Energy Co. Ltd. (603071)?
For today's price to be fair in a discounted-cash-flow model, ZJMI Environmental Energy Co. Ltd. would have to grow free cash flow by -23.7 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 603071 use?
Our models discount ZJMI Environmental Energy Co. Ltd. at 10.4 %: a base by market capitalisation (small), damped by beta 0.41, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ZJMI Environmental Energy Co. Ltd. that is -23.7 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has ZJMI Environmental Energy Co. Ltd. (603071) delivered so far?
Over the past 5 years revenue at ZJMI Environmental Energy Co. Ltd. grew +4.4 % a year. The price currently implies -23.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ZJMI Environmental Energy Co. Ltd. (603071) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into ZJMI Environmental Energy Co. Ltd. (-23.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ZJMI Environmental Energy Co. Ltd. (603071)?
The free-cash-flow yield on the price is 30.40 %: that much free cash flow ZJMI Environmental Energy Co. Ltd. produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ZJMI Environmental Energy Co. Ltd. (603071)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ZJMI Environmental Energy Co. Ltd. it is ¥17.83 per share (as of Sep 24, 2026), against a price of ¥12.30. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is ZJMI Environmental Energy Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 603071 trades below its calculated fair value: price ¥12.30, fair value ¥17.83, a gap of about +45% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 603071?
No. The price is what the market pays today (¥12.30); the fair value is what the company's own numbers justify (¥17.83). For ZJMI Environmental Energy Co. Ltd. the two are ¥5.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is ZJMI Environmental Energy Co. Ltd. worth?
The market values ZJMI Environmental Energy Co. Ltd. at about 6.9B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥12.30; our models calculate a fair value of ¥17.83 per share.
What do the bullish and bearish scenarios say about 603071?
Our models span a range for ZJMI Environmental Energy Co. Ltd.: cautious scenario ¥13.02, base ¥17.83, optimistic ¥22.74 per share (as of Sep 24, 2026, price ¥12.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603071?
ZJMI Environmental Energy Co. Ltd. trades at a price-to-earnings ratio of 10.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥17.83 is built from several models across several years. Other multiples: P/B 1.2, P/S 0.2, EV/EBITDA 4.0.
How solid is the balance sheet of ZJMI Environmental Energy Co. Ltd. (603071)?
Balance-sheet figures for ZJMI Environmental Energy Co. Ltd. (as of Sep 24, 2026): return on equity 12.0%, debt of 0.13 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 603071 from its 52-week high?
ZJMI Environmental Energy Co. Ltd. trades at ¥12.30, about 16% below its 52-week high of ¥14.69 and 11% above the low of ¥11.06 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥17.83 is for.
Which stocks are comparable to ZJMI Environmental Energy Co. Ltd.?
From the same area (Energy) we also value China Shenhua Energy Company, PT Bayan Resources Tbk.,, Adani Enterprises Limited, Shaanxi Coal Industry Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ZJMI Environmental Energy Co. Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price ¥12.30, calculated fair value ¥17.83 (+45%), Quality Score 63/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 603071 calculated?
We run ZJMI Environmental Energy Co. Ltd. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥17.83, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. ZJMI Environmental Energy Co. Ltd. currently trades 45 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ZJMI Environmental Energy Co. Ltd. (603071)?
The closing price on Sep 23, 2026 was ¥12.30. Our model-based fair value is ¥17.83, about +45% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ZJMI Environmental Energy Co. Ltd. right now?
The price is below even our cautious bear case (¥13.02). The market is more pessimistic than our downside scenario. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of ZJMI Environmental Energy Co. Ltd.
How large is the market capitalisation of ZJMI Environmental Energy Co. Ltd. (603071)?
The market capitalisation of ZJMI Environmental Energy Co. Ltd. is 6.9B CNY (≈ $1.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ZJMI Environmental Energy Co. Ltd. (603071)?
The price-to-sales ratio of ZJMI Environmental Energy Co. Ltd. is 0.18 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ZJMI Environmental Energy Co. Ltd. (603071)?
Earnings per share at ZJMI Environmental Energy Co. Ltd. are ¥1.17 (price ÷ EPS = P/E 10.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ZJMI Environmental Energy Co. Ltd. (603071)?
The dividend yield of ZJMI Environmental Energy Co. Ltd. is 3.8% (payout 40.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ZJMI Environmental Energy Co. Ltd. (603071)?
The net margin of ZJMI Environmental Energy Co. Ltd. is 1.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ZJMI Environmental Energy Co. Ltd. (603071)?
The return on equity (ROE) of ZJMI Environmental Energy Co. Ltd. is 12.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ZJMI Environmental Energy Co. Ltd. (603071)?
On an EBIT basis the return on assets of ZJMI Environmental Energy Co. Ltd. is 14.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ZJMI Environmental Energy Co. Ltd. (603071)?
The operating margin of ZJMI Environmental Energy Co. Ltd. is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ZJMI Environmental Energy Co. Ltd. (603071)?
Revenue at ZJMI Environmental Energy Co. Ltd. is growing −21.7% versus a year earlier (3y avg −12.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ZJMI Environmental Energy Co. Ltd. (603071)?
Earnings per share at ZJMI Environmental Energy Co. Ltd. are growing +10.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ZJMI Environmental Energy Co. Ltd. (603071) carry?
The net debt of ZJMI Environmental Energy Co. Ltd. is 1.0B CNY (fiscal year 2024, ≈ 0.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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