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Zhejiang Wanfeng Chemical Co. Ltd. A (603172) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Zhejiang Wanfeng Chemical Co. Ltd. A ¥5.50, price ¥19.59, upside -71.9%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · CN · ISIN CNE1000060M9

ZW Broad data Sep 24, 2026

Zhejiang Wanfeng Chemical Co. Ltd. A

603172 · SHG

Weakest SetupStrongly overvalued and low quality.

!Fair value ¥5.50 · Strongly overvalued (−72%)
!Quality 38/100
!Weak Growth (revenue 3y +0.4 %/yr)
!Thin margins · 8.7% net margin (TTM)
!Low debt · negative free cash flow
·0.36% dividend yield
!Trails peers (4/13)
!Narrow moat 38/100
!Weak on past: 19 out of 100
!Weak on dividend: 7 out of 100
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥31.02 ¥10.73 Fair Value ¥5.50 May 2023 Sep 2026

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

41‑month range ¥10.73 – ¥31.02 · fair‑value band ¥4.61 – ¥5.93 · the ¥19.59 price screens above the ¥5.50 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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Company profile

Zhejiang Wanfeng Chemical Co.,Ltd. engages in the research, development, production, and sale of disperse dyes and filter cakes in China and internationally. Zhejiang Wanfeng Chemical Co.,Ltd. was founded in 2003 and is based in Shaoxing, China.

Stock analysis

Zhejiang Wanfeng Chemical Co. Ltd. A (603172) currently trades at ¥19.59, while our model-based Fair Value estimate is ¥5.50, implying the stock looks roughly 256.1% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ¥6.15 per share, and 0 of the 15 models we run sit above the ¥19.59 price.

Bear case: the Dividend Discount group reads lowest at ¥1.14, and 15 of the 15 models stay below the price. Evidence for this calculation is high.

Scenario range: ¥4.61 (bear) to ¥5.93 (bull), the price of ¥19.59 sits above 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 38/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Zhejiang Wanfeng Chemical Co. Ltd. A reported revenue of 552M CNY in FY2025 versus 564M CNY in FY2021, a compound −0.5%/yr. Reported net income was 48.3M CNY in FY2025, compounding −10.5%/yr from FY2021.

Key figures

Market cap 2.6B CNY (≈ $390M) · P/E ratio 51.6 · P/S ratio 4.51 · EPS (TTM) ¥0.3800 · Dividend yield 0.4% · Net margin 8.7% · Return on equity 4.8% · Return on assets (EBIT) 17.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 37% below its 52-week high and 35% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at −72%, 603172 screens richer than that median.

Fair Value models

Bear ¥4.61 Fair Value ¥5.50 Bull ¥5.93
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 (¥0.2276 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.
Highest evidence
Owner Earnings ¥3.69 ¥3.91 ¥4.28 75
Residual Income ¥5.83 ¥5.69 ¥4.86 73
EPV ¥5.52 ¥5.88 ¥6.18 71
All 15 models by family
DCF Models
Owner Earnings ¥3.69 ¥3.91 ¥4.28 75
Earnings-Based
Graham-Dodd ¥2.46 ¥4.34 ¥5.33 64
EPV ¥5.52 ¥5.88 ¥6.18 71
Dividend Discount
Gordon GGM ¥0.9200 ¥1.14 ¥1.35 67
DDM Multi-Stage ¥0.9200 ¥1.19 ¥1.47 65
Multiples
P/E Multiple ¥4.61 ¥6.15 ¥7.69 63
P/S Multiple ¥4.61 ¥6.15 ¥7.69 58
P/B Multiple ¥4.61 ¥6.15 ¥7.69 55
EV/EBIT ¥7.26 ¥8.72 ¥10.18 66
EV/EBITDA ¥8.01 ¥9.71 ¥11.42 67
EV/Revenue ¥6.68 ¥8.30 ¥9.93 54
Asset-Based
NCAV (Graham) ¥4.11 ¥5.51 ¥8.23 54
Economic Profit
Residual Income ¥5.83 ¥5.69 ¥4.86 73
ROIC Compounder ¥5.52 ¥5.88 ¥6.18 69
Growth Earnings
Growth-Adj P/E ¥3.29 ¥4.69 ¥6.10 65

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Quality Score breakdown

Overall quality 38/100

Of which business quality 41 · Market factors (momentum, volatility) 45

Profitability 28
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 12
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 39
Distance to the 52-week high (market factor)
Net Issuance 40
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 26/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+3.2%
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.
+0.4%
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.
−13.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.6%
Dividend (yield on the price)0.4%
Profit margin 2021 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.100% → 10%

603172 screens 256% overvalued. Compare with Linde plc →

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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.Specialty Chemicals · 713 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside −72% · Bottom 25%
Profitability
Return on equity (TTM) 5% · Below median
Return on assets 3% · Below median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 12% · Above median
Growth and dividend
Revenue growth 38% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/E (TTM) 51.6× · Priciest 25%
P/B 2.38× · Pricier than median
P/S (TTM) 4.37× · Priciest 25%
EV/EBITDA 22.2× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)19 · sector 23
HEALTH (low debt)99 · sector 95
DIVIDEND (yield)7 · sector 29

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

Context: sector, industry, market

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

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Linde plc LIN $469.72 $441.28 −6%
The Sherwin-Williams Company SHW $326.46 $148.97 −54%
Ecolab Inc ECL $276.72 $96.18 −65%
Air Products and Chemicals, Inc APD $286.97 $122.14 −57%
Nan Ya Plastics Corporation 1303 238.00 TWD 235.25 TWD −1%
Givaudan SA GIVN CHF 3,406 CHF 1,523 −55%
Wanhua Chemical Group 600309 ¥71.60 ¥68.03 −5%
Asian Paints Limited ASIANPAINT ₹2,455 ₹1,479 −40%
PPG Industries, Inc PPG $107.20 $77.06 −28%
DSM-Firmenich AG DSFIR CHF 91.50 CHF 29.27 −68%

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Cite: Fair Value Calculator (2026). "Zhejiang Wanfeng Chemical Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/603172

Frequently asked questions

Is Zhejiang Wanfeng Chemical Co. Ltd. A (603172) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥5.50 versus a price of ¥19.59, about −72% upside (overvalued).
What is the fair value of 603172?
Our model-based fair value for Zhejiang Wanfeng Chemical Co. Ltd. A is ¥5.50 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥19.59.
What is the quality score of 603172?
Zhejiang Wanfeng Chemical Co. Ltd. A has a Quality Score of 38/100. 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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
Our model-based price target is the fair value of ¥5.50 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario ¥4.61, optimistic scenario ¥5.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Zhejiang Wanfeng Chemical Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥5.50, about −72% upside versus a price of ¥19.59 (overvalued). Cautious scenario ¥4.61, optimistic scenario ¥5.93. The calculation is refreshed regularly with new filings.
What is the revenue of Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
Zhejiang Wanfeng Chemical Co. Ltd. A reported trailing-twelve-month revenue of about 598M CNY (latest available figure, as of Sep 24, 2026).
Does Zhejiang Wanfeng Chemical Co. Ltd. A pay a dividend?
Zhejiang Wanfeng Chemical Co. Ltd. A currently shows a dividend yield of about 0.36% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zhejiang Wanfeng Chemical Co. Ltd. A it is ¥5.50 per share (as of Sep 24, 2026), against a price of ¥19.59. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Zhejiang Wanfeng Chemical Co. Ltd. A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 603172 trades above its calculated fair value: price ¥19.59, fair value ¥5.50, a gap of about −72% (overvalued). 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 603172?
No. The price is what the market pays today (¥19.59); the fair value is what the company's own numbers justify (¥5.50). For Zhejiang Wanfeng Chemical Co. Ltd. A the two are ¥14.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zhejiang Wanfeng Chemical Co. Ltd. A worth?
The market values Zhejiang Wanfeng Chemical Co. Ltd. A at about 2.6B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥19.59; our models calculate a fair value of ¥5.50 per share.
What do the bullish and bearish scenarios say about 603172?
Our models span a range for Zhejiang Wanfeng Chemical Co. Ltd. A: cautious scenario ¥4.61, base ¥5.50, optimistic ¥5.93 per share (as of Sep 24, 2026, price ¥19.59). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603172?
Zhejiang Wanfeng Chemical Co. Ltd. A trades at a price-to-earnings ratio of 51.6 (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 ¥5.50 is built from several models across several years. Other multiples: P/B 2.4, P/S 4.4, EV/EBITDA 22.2.
How solid is the balance sheet of Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
Balance-sheet figures for Zhejiang Wanfeng Chemical Co. Ltd. A (as of Sep 24, 2026): return on equity 4.8%, debt of 0.03 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 603172 from its 52-week high?
Zhejiang Wanfeng Chemical Co. Ltd. A trades at ¥19.59, about 37% below its 52-week high of ¥31.02 and 35% above the low of ¥14.50 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥5.50 is for.
Which stocks are comparable to Zhejiang Wanfeng Chemical Co. Ltd. A?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Zhejiang Wanfeng Chemical Co. Ltd. A stock attractive at the current price?
The data as of Sep 24, 2026: price ¥19.59, calculated fair value ¥5.50 (−72%), Quality Score 38/100, from 15 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 603172 calculated?
We run Zhejiang Wanfeng Chemical Co. Ltd. A through 15 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 ¥5.50, 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 13.0 % above its aggregate fair value. Zhejiang Wanfeng Chemical Co. Ltd. A itself currently trades above fair value. 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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
The closing price on Sep 24, 2026 was ¥19.59. Our model-based fair value is ¥5.50, about −72% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zhejiang Wanfeng Chemical Co. Ltd. A right now?
The price sits above even our optimistic bull case (¥5.93). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of Zhejiang Wanfeng Chemical Co. Ltd. A

How large is the market capitalisation of Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
The market capitalisation of Zhejiang Wanfeng Chemical Co. Ltd. A is 2.6B CNY (≈ $390M). 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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
The price-to-sales ratio of Zhejiang Wanfeng Chemical Co. Ltd. A is 4.51 (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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
Earnings per share at Zhejiang Wanfeng Chemical Co. Ltd. A are ¥0.3800 (price ÷ EPS = P/E 51.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
The dividend yield of Zhejiang Wanfeng Chemical Co. Ltd. A is 0.4% (payout 18.4%). 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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
The net margin of Zhejiang Wanfeng Chemical Co. Ltd. A is 8.7% (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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
The return on equity (ROE) of Zhejiang Wanfeng Chemical Co. Ltd. A is 4.8% (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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
On an EBIT basis the return on assets of Zhejiang Wanfeng Chemical Co. Ltd. A is 17.0% (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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
The operating margin of Zhejiang Wanfeng Chemical Co. Ltd. A is 11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
Revenue at Zhejiang Wanfeng Chemical Co. Ltd. A is growing +37.7% versus a year earlier (3y avg +0.4%). 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 Zhejiang Wanfeng Chemical Co. Ltd. A (603172)?
Earnings per share at Zhejiang Wanfeng Chemical Co. Ltd. A are growing +25.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Zhejiang Wanfeng Chemical Co. Ltd. A (603172) generate?
The free cash flow of Zhejiang Wanfeng Chemical Co. Ltd. A is −46.2M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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