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Xingtong Shipping Co (603209) Fair Value & Analysis

Industrials · CN · Market cap 4.3B CNY

XS Xingtong Shipping Co 603209 · SHG
Price¥13.68
Fair Value¥14.83
Upside+8.4%
Quality33/100
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Expensive Growth
Solidly profitable · 18.0% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/12)
Moderate moat 56/100
Evidence: Medium Range ¥11.12 – ¥18.54 Share as image

Fair value as of: Jul 11, 2026

From 16 valuation models · updated 30 days ago

Share price +2.2% over the past month.

Below-average quality, 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 ¥11.12 (bear) to ¥18.54 (bull), base ¥14.83. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 33/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (4 years)

¥28.17 ¥11.10 Fair Value ¥14.83 Mar 2022 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

52‑month range ¥11.10 – ¥28.17 · fair‑value band ¥11.12 – ¥18.54 · the ¥13.68 price screens below the ¥14.83 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Xingtong Shipping Co (603209) currently trades at ¥13.68, while our model-based Fair Value estimate is ¥14.83, implying the stock looks roughly 8.4% fairly valued today. The Quality Score stands at 33/100 (below-average 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, Xingtong Shipping Co generated revenue of 1.7B CNY at a net margin of 18.0%. Revenue grew 22.3% year over year. It earns a return on equity of 9.4%. Net debt stands at 388M CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥11.12 (bear case) to ¥18.54 (bull case); at ¥13.68, 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 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 67% fair-value upside, at 8%, 603209 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
Residual Income ¥8.53 ¥9.10 ¥10.06 76
ROIC Compounder ¥7.25 ¥8.57 ¥9.71 72
Gordon GGM ¥2.64 ¥5.26 ¥7.97 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥5.65 ¥39.40 ¥55.29 54
Lynch FV ¥15.71 ¥22.44 ¥29.17 50
PEG = 1.0 ¥15.71 ¥22.44 ¥29.17 46
EPV ¥7.25 ¥8.57 ¥9.71 59
Dividend Discount
Gordon GGM ¥2.64 ¥5.26 ¥7.97 70
DDM Multi-Stage ¥2.64 ¥4.55 ¥5.56 61
Multiples
P/E Multiple ¥13.08 ¥17.45 ¥21.81 63
P/S Multiple ¥7.52 ¥10.02 ¥12.53 58
P/B Multiple ¥10.59 ¥14.12 ¥17.65 55
EV/EBIT ¥13.73 ¥18.67 ¥23.62 53
EV/EBITDA ¥16.51 ¥22.39 ¥28.26 54
EV/Revenue ¥5.21 ¥7.91 ¥10.62 43
Asset-Based
NCAV (Graham) ¥5.19 ¥6.96 ¥10.39 50
Economic Profit
Residual Income ¥8.53 ¥9.10 ¥10.06 76
ROIC Compounder ¥7.25 ¥8.57 ¥9.71 72
Growth Earnings
Growth-Adj P/E ¥19.77 ¥28.25 ¥36.72 68

Widest divergence: Growth Earnings (¥28.25) versus Dividend Discount (¥4.55). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.7B CNY
Revenue growth (YoY) +22.3%
Net margin 18.0%
Return on equity 9.4%
Free cash flow −290M CNY FY2025
P/E ratio 13.7
More key figures
Operating margin 23.2%
EPS (TTM) ¥0.9600
EPS growth (YoY) +30.8%
Net debt 388M CNY FY2025

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

Quality Score breakdown

Overall quality 33/100

Of which business quality 37 · Market factors (momentum, volatility) 43

Profitability 35
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 3
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 15
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

Xingtong Shipping Co., Ltd. engages in water transport of bulk liquid dangerous goods. The company transports water transport of liquid chemicals, refined oil and liquefied petroleum gas.

Full company description

Xingtong Shipping Co., Ltd. engages in water transport of bulk liquid dangerous goods. The company transports water transport of liquid chemicals, refined oil and liquefied petroleum gas. It is also involved in domestic and international ship management business; international passenger ships; ship transportation; domestic cargo transportation agency; and ship leasing business. As of December 31, 2024, the company operates 37 bulk liquid chemical tankers and 37 ships. Xingtong Shipping Co., Ltd. was founded in 1997 and is based in Quanzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Xingtong Shipping Co reported revenue of ¥1.6B in FY2025 versus ¥567M in FY2021, a compound +30.2%/yr. Reported net income was ¥270M in FY2025, compounding +7.9%/yr from FY2021.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.6B CNY
Latest YoY
+7.5%
Avg. growth/yr (3Y)
+27.5%
Avg. growth/yr (5Y)
+33.3%
Avg. growth/yr (6Y)
+33.2%
Revenue +30.2%/yr
FY21 ¥567M
FY22 ¥785M
FY23 ¥1.2B
FY24 ¥1.5B
FY25 ¥1.6B
Net income +7.9%/yr
FY21 ¥199M
FY22 ¥206M
FY23 ¥252M
FY24 ¥350M
FY25 ¥270M

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Cite: Fair Value Calculator (2026). "Xingtong Shipping Co Fair Value". https://www.fairvalue-calculator.com/stock/603209

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 33 · Bottom 25%
Fair Value upside +8% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 18% · Above median
Operating margin (TTM) 23% · Above median
Revenue growth 22% · Top 25%
Debt / equity 0.30× · Higher than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 13.7× · Cheaper than median
P/B 1.26× · Pricier than median
P/S (TTM) 2.49× · Pricier than median
EV/EBITDA 7.8× · 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 45 · sector 29
FUTURE 100 · sector 18
PAST 38 · sector 27
HEALTH 85 · sector 88
DIVIDEND 0 · 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 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 Xingtong Shipping Co (603209) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ¥14.83 versus a price of ¥13.68, about +8% (fairly valued).
What is the fair value of 603209?
Our model-based fair value for Xingtong Shipping Co is ¥14.83 (as of Jul 11, 2026), built from audited fundamentals. The current price is ¥13.68.
What is the quality score of 603209?
Xingtong Shipping Co has a Quality Score of 33/100. 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 Xingtong Shipping Co (603209)?
Xingtong Shipping Co reported trailing-twelve-month revenue of about 1.7B CNY (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 603209?
The net profit margin of Xingtong Shipping Co is about 18.0%, meaning it keeps roughly 18.0% 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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