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Bohai Ferry Group (603167) Fair Value & Analysis

Industrials · CN · Market cap 4.1B CNY

BF Bohai Ferry Group 603167 · SHG
Price¥8.70
Fair Value¥11.78
Upside+35.4%
Quality73/100
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Healthy Growth
Solidly profitable · 13.5% net margin
Low debt · generates free cash flow
10.32% dividend yield
Mixed vs. peers (8/14)
Narrow moat 35/100
Evidence: Medium Range ¥8.84 – ¥14.73 Share as image

Fair value as of: Aug 10, 2026

From 25 valuation models · updated today

Share price +1.6% over the past month.

A solid business, screening 35% undervalued on our models.

What matters now

  • The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • Our model range runs from ¥8.84 (bear) to ¥14.73 (bull), base ¥11.78. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 73/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥11.48 ¥6.32 Fair Value ¥11.78 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 ¥6.32 – ¥11.48 · fair‑value band ¥8.84 – ¥14.73 · the ¥8.70 price screens below the ¥11.78 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Bohai Ferry Group (603167) currently trades at ¥8.70, while our model-based Fair Value estimate is ¥11.78, implying the stock looks roughly 35.4% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Industrials 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: medium), always confirm before acting.

Over the trailing twelve months, Bohai Ferry Group generated revenue of 1.8B CNY at a net margin of 13.5%. Revenue declined 0.5% year over year. It earns a return on equity of 8.1%. The balance sheet holds a net cash position of 10.1M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥8.84 (bear case) to ¥14.73 (bull case); at ¥8.70, the current price sits below 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 26% 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 35%, 603167 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 ¥10.49 ¥14.52 ¥19.80 80
Residual Income ¥6.09 ¥6.48 ¥6.97 76
Rev-Margin DCF ¥6.69 ¥9.48 ¥12.54 74
All 25 models by family
DCF Models
FCF DCF ¥10.24 ¥14.62 ¥20.64 38
Owner Earnings ¥8.53 ¥12.19 ¥17.21 31
5Y Revenue Exit ¥6.69 ¥9.31 ¥12.46 39
5Y EBITDA Exit ¥10.92 ¥16.87 ¥23.51 41
5Y P/E Exit ¥8.62 ¥12.76 ¥16.87 38
10Y Revenue Exit ¥7.83 ¥10.40 ¥13.47 36
10Y EBITDA Exit ¥10.56 ¥15.41 ¥21.37 37
10Y P/E Exit ¥9.15 ¥12.69 ¥16.62 35
Earnings-Based
Graham-Dodd ¥3.82 ¥9.20 ¥11.88 54
PEG = 1.0 ¥1.62 ¥2.32 ¥3.01 46
EPV ¥6.28 ¥7.28 ¥8.15 59
Dividend Discount
Gordon GGM ¥8.98 ¥15.50 ¥23.27 70
DDM Multi-Stage ¥8.98 ¥13.20 ¥17.64 61
Multiples
P/E Multiple ¥8.84 ¥11.78 ¥14.73 63
P/S Multiple ¥5.90 ¥7.86 ¥9.83 58
P/B Multiple ¥7.15 ¥9.54 ¥11.92 55
EV/EBIT ¥12.10 ¥16.16 ¥20.22 53
EV/EBITDA ¥12.95 ¥17.29 ¥21.64 54
EV/Revenue ¥4.86 ¥6.98 ¥9.10 43
Asset-Based
NCAV (Graham) ¥3.72 ¥4.98 ¥7.44 50
Growth DCF
Growth DCF ¥10.49 ¥14.52 ¥19.80 80
Rev-Margin DCF ¥6.69 ¥9.48 ¥12.54 74
Economic Profit
Residual Income ¥6.09 ¥6.48 ¥6.97 76
ROIC Compounder ¥6.28 ¥7.28 ¥8.60 72
Growth Earnings
Growth-Adj P/E ¥6.74 ¥9.63 ¥12.51 68

Widest divergence: Dividend Discount (¥13.20) versus Asset-Based (¥4.98). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.8B CNY
Revenue growth (YoY) -0.5%
Net margin 13.5%
Return on equity 8.1%
Free cash flow 476M CNY FY2025
P/E ratio 16.4
More key figures
Operating margin 0.8%
EPS (TTM) ¥0.5300
Dividend yield 10.3%
EPS growth (YoY) -23.1%
Net cash 10.1M CNY FY2024

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

Quality Score breakdown

Overall quality 73/100

Of which business quality 74 · Market factors (momentum, volatility) 42

Profitability 39
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 97
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 84
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

Bohai Ferry Group Co., Ltd. engages in water transportation business in China. The company provides passenger roll-on/roll-off transportation, international tourism, international passenger containers, and fuel supply. It is also involved in financial leasing activities.

Full company description

Bohai Ferry Group Co., Ltd. engages in water transportation business in China. The company provides passenger roll-on/roll-off transportation, international tourism, international passenger containers, and fuel supply. It is also involved in financial leasing activities. In addition, the company engages in daily necessities wholesale and retail, and catering services businesses. Bohai Ferry Group Co., Ltd. was formerly known as Shandong Bohai Ferry Co., Ltd. The company was founded in 1998 and is headquartered in Yantai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bohai Ferry Group reported revenue of ¥1.8B in FY2025 versus ¥1.4B in FY2021, a compound +7.1%/yr. Reported net income was ¥263M in FY2025, compounding +6.9%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.8B CNY
Latest YoY
+1.4%
Avg. growth/yr (3Y)
+12.2%
Avg. growth/yr (5Y)
+9.6%
Avg. growth/yr (18Y)
+6.3%
Revenue +7.1%/yr
FY21 ¥1.4B
FY22 ¥1.3B
FY23 ¥1.8B
FY24 ¥1.8B
FY25 ¥1.8B
Net income +6.9%/yr
FY21 ¥202M
FY22 ¥162M
FY23 ¥250M
FY24 ¥274M
FY25 ¥263M

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Cite: Fair Value Calculator (2026). "Bohai Ferry Group Fair Value". https://www.fairvalue-calculator.com/stock/603167

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 73 · Top 25%
Fair Value upside +35% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 14% · Above median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 10.3% · Top 25%
Debt / equity 0.04× · Lower than 75% of peers

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 16.4× · Pricier than median
P/B 1.17× · Pricier than median
P/S (TTM) 2.21× · Pricier than median
P/FCF 1.3× · Cheaper than median
EV/EBITDA 9.6× · 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 81 · sector 29
FUTURE 0 · sector 18
PAST 32 · sector 27
HEALTH 98 · sector 88
DIVIDEND 100 · sector 47

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 Aug 10, 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 Bohai Ferry Group (603167) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥11.78 versus a price of ¥8.70, about +35% (undervalued).
What is the fair value of 603167?
Our model-based fair value for Bohai Ferry Group is ¥11.78 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥8.70.
What is the quality score of 603167?
Bohai Ferry Group has a Quality Score of 73/100. 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 Bohai Ferry Group (603167)?
Bohai Ferry Group reported trailing-twelve-month revenue of about 1.8B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603167?
The net profit margin of Bohai Ferry Group is about 13.5%, meaning it keeps roughly 13.5% of revenue as net income. Based on the latest reported figures.
Does Bohai Ferry Group pay a dividend?
Bohai Ferry Group currently shows a dividend yield of about 9.92% 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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