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Jiangsu Wanlin Modern Logistics Co (603117) Fair Value & Analysis

Industrials · CN · Market cap 2.4B CNY

JW Jiangsu Wanlin Modern Logistics Co 603117 · SHG
Price¥3.75
Fair Value¥0.8699
Upside-76.8%
Quality68/100
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Weak Growth
Thin margins · 3.2% net margin
Low debt · generates free cash flow
Trails peers (3/13)
Narrow moat 22/100
Evidence: High Range ¥0.6524 – ¥1.09 Share as image

Fair value as of: Jul 11, 2026

From 24 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from ¥0.5400 to ¥0.8699 (+61.1%) since Jun 24, 2026. Share price +7.4% over the past month.

A solid business, but screening 77% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.09). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥9.59 ¥2.25 Fair Value ¥0.8699 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range ¥2.25 – ¥9.59 · fair‑value band ¥0.6524 – ¥1.09 · the ¥3.75 price screens above the ¥0.8699 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Jiangsu Wanlin Modern Logistics Co (603117) currently trades at ¥3.75, while our model-based Fair Value estimate is ¥0.8699, implying the stock looks roughly 76.8% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, Jiangsu Wanlin Modern Logistics Co generated revenue of 231M CNY at a net margin of 3.2%. Revenue declined 26.0% year over year. It earns a return on equity of 0.7%. Net debt stands at 64.0M CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥0.6524 (bear case) to ¥1.09 (bull case); at ¥3.75, the current price sits above 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 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at -77%, 603117 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥0.0100 to ¥1.85). Read the values as a conservative anchor, not as a price target.
Model 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
Highest evidence
Growth DCF ¥1.41 ¥1.85 ¥2.59 80
Residual Income ¥1.17 ¥1.08 ¥0.8000 76
Rev-Margin DCF ¥0.7000 ¥0.8400 ¥1.03 74
All 24 models by family
DCF Models
FCF DCF ¥1.35 ¥1.82 ¥2.65 38
Owner Earnings ¥1.18 ¥1.58 ¥2.30 31
5Y Revenue Exit ¥0.7000 ¥0.8100 ¥0.9700 39
5Y EBITDA Exit ¥1.17 ¥1.62 ¥2.23 41
5Y P/E Exit ¥0.8000 ¥0.9900 ¥1.22 38
10Y Revenue Exit ¥0.9500 ¥1.06 ¥1.15 36
10Y EBITDA Exit ¥1.23 ¥1.55 ¥1.87 37
10Y P/E Exit ¥1.02 ¥1.17 ¥1.30 35
Earnings-Based
Graham-Dodd ¥0.1800 ¥0.2200 ¥0.2400 54
EPV ¥0.2400 ¥0.2600 ¥0.2800 59
Dividend Discount
Gordon GGM ¥0.0100 ¥0.0100 ¥0.0100 70
DDM Multi-Stage ¥0.0100 ¥0.0100 ¥0.0200 61
Multiples
P/E Multiple ¥0.4100 ¥0.5400 ¥0.6800 63
P/S Multiple ¥0.3300 ¥0.4400 ¥0.5500 58
P/B Multiple ¥0.3300 ¥0.4400 ¥0.5500 55
EV/EBIT ¥0.3600 ¥0.4500 ¥0.5400 53
EV/EBITDA ¥1.21 ¥1.58 ¥1.95 54
EV/Revenue ¥0.2800 ¥0.3600 ¥0.4500 43
Asset-Based
NCAV (Graham) ¥0.8600 ¥1.15 ¥1.72 50
Growth DCF
Growth DCF ¥1.41 ¥1.85 ¥2.59 80
Rev-Margin DCF ¥0.7000 ¥0.8400 ¥1.03 74
Economic Profit
Residual Income ¥1.17 ¥1.08 ¥0.8000 76
ROIC Compounder ¥0.2400 ¥0.2600 ¥0.2800 72
Growth Earnings
Growth-Adj P/E ¥0.2900 ¥0.4100 ¥0.5400 68

Widest divergence: DCF Models (¥1.17) versus Dividend Discount (¥0.0100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 231M CNY
Revenue growth (YoY) -26.0%
Net margin 3.2%
Return on equity 0.7%
Free cash flow 81.8M CNY FY2025
P/E ratio 198.0
More key figures
Operating margin -22.2%
EPS (TTM) ¥0.0200
EPS growth (YoY) -18.2%
Net debt 64.0M CNY FY2024

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 68 · Market factors (momentum, volatility) 26

Profitability 18
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 100
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 Wanlin Modern Logistics Co., Ltd. provides wood logistics and wood import agency services in China and internationally.

Full company description

Jiangsu Wanlin Modern Logistics Co., Ltd. provides wood logistics and wood import agency services in China and internationally. The company provides wood agency procurement logistics services; and shipping agency, customs clearance, inspection declaration, agency charter booking, insurance, freight forwarding services, etc., as well as port loading and unloading stockpiling logistics services; and warehousing and logistics services. It offers wood processing and logistics services; professional logistic information services; and wood drying, material fumigation, and recycled process waste reuse services. Jiangsu Wanlin Modern Logistics Co., Ltd. was founded in 2011 and is headquartered in Jingjiang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Wanlin Modern Logistics Co reported revenue of ¥247M in FY2025 versus ¥580M in FY2021, a compound −19.2%/yr. Reported net income was ¥15.5M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
247M CNY
Latest YoY
−16.1%
Avg. growth/yr (3Y) 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.
−17.9%
Avg. growth/yr (5Y) 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.
−19.3%
Avg. growth/yr (14Y) 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.
+0.0%
Revenue −19.2%/yr
FY21 ¥580M
FY22 ¥446M
FY23 ¥388M
FY24 ¥295M
FY25 ¥247M
Net income
FY21 −¥283M
FY22 −¥597M
FY23 −¥228M
FY24 ¥13.7M
FY25 ¥15.5M

603117 screens 77% overvalued. Compare with Adani Ports and Special Economic Zone Limited →

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Cite: Fair Value Calculator (2026). "Jiangsu Wanlin Modern Logistics Co Fair Value". https://www.fairvalue-calculator.com/stock/603117

Peer Group

Marine Shipping · 231 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 68 · Top 25%
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 1% · Bottom 25%
Return on assets -0% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) -22% · Bottom 25%
Revenue growth -26% · Bottom 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 198.0× · Pricier than 75% of peers
P/B 0.34× · Cheaper than 75% of peers
P/S (TTM) 1.52× · Pricier than median
P/FCF 4.3× · Pricier than median
EV/EBITDA 7.0× · Pricier 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 0 · sector 29
FUTURE 0 · sector 18
PAST 3 · sector 27
HEALTH 100 · sector 88
DIVIDEND 0 · sector 47

VALUE 0: the price sits above our fair-value range.

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.35 ¥5.58 +67%
Qingdao Port International Co 601298 ¥8.88 ¥15.97 +80%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%

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Frequently asked questions

Is Jiangsu Wanlin Modern Logistics Co (603117) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ¥0.8699 versus a price of ¥3.75, about −77% (overvalued).
What is the fair value of 603117?
Our model-based fair value for Jiangsu Wanlin Modern Logistics Co is ¥0.8699 (as of Jul 11, 2026), built from audited fundamentals. The current price is ¥3.75.
What is the quality score of 603117?
Jiangsu Wanlin Modern Logistics Co has a Quality Score of 68/100. 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 Wanlin Modern Logistics Co (603117)?
Jiangsu Wanlin Modern Logistics Co reported trailing-twelve-month revenue of about 231M CNY (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 603117?
The net profit margin of Jiangsu Wanlin Modern Logistics Co is about 3.2%, meaning it keeps roughly 3.2% 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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