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Jiangsu Seagull Cooling Tower Co (603269) Fair Value & Analysis

Industrials · CN · Market cap 7.4B CNY

JS Jiangsu Seagull Cooling Tower Co 603269 · SHG
Price¥14.12
Fair Value¥7.87
Upside-44.3%
Quality65/100
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Healthy Growth
Thin margins · 6.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/13)
Moderate moat 47/100
Evidence: High Range ¥5.90 – ¥9.84 Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from ¥10.04 to ¥7.87 (−21.6%) since Jun 24, 2026. Share price −18.3% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥9.84). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥24.51 ¥4.23 Fair Value ¥7.87 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 ¥4.23 – ¥24.51 · fair‑value band ¥5.90 – ¥9.84 · the ¥14.12 price screens above the ¥7.87 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Jiangsu Seagull Cooling Tower Co (603269) currently trades at ¥14.12, while our model-based Fair Value estimate is ¥7.87, implying the stock looks roughly 44.3% overvalued today. The Quality Score stands at 65/100 (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 Seagull Cooling Tower Co generated revenue of 1.9B CNY at a net margin of 6.2%. Revenue grew 32.1% year over year. It earns a return on equity of 11.1%. The balance sheet holds a net cash position of 155M CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥5.90 (bear case) to ¥9.84 (bull case); at ¥14.12, 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 43% below its 52-week high and 68% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -44%, 603269 screens cheaper 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 ¥8.96 ¥14.05 ¥22.66 80
Residual Income ¥2.98 ¥3.36 ¥5.09 76
Rev-Margin DCF ¥9.25 ¥14.78 ¥22.30 74
All 26 models by family
DCF Models
FCF DCF ¥9.10 ¥14.79 ¥25.47 38
Owner Earnings ¥7.93 ¥12.75 ¥21.35 31
5Y Revenue Exit ¥9.25 ¥15.01 ¥23.10 39
5Y EBITDA Exit ¥10.08 ¥16.79 ¥25.53 41
5Y P/E Exit ¥8.45 ¥13.28 ¥18.99 38
10Y Revenue Exit ¥8.91 ¥14.39 ¥23.38 36
10Y EBITDA Exit ¥9.69 ¥15.70 ¥25.46 37
10Y P/E Exit ¥8.61 ¥13.12 ¥19.86 35
Earnings-Based
Graham-Dodd ¥2.55 ¥13.80 ¥19.13 54
Lynch FV ¥3.82 ¥5.46 ¥7.10 50
PEG = 1.0 ¥3.82 ¥5.46 ¥7.10 46
EPV ¥8.62 ¥9.57 ¥10.39 59
Dividend Discount
Gordon GGM ¥2.40 ¥4.78 ¥7.24 70
DDM Multi-Stage ¥2.40 ¥4.13 ¥5.05 61
Multiples
P/E Multiple ¥5.90 ¥7.87 ¥9.84 63
P/S Multiple ¥4.78 ¥6.37 ¥7.96 58
P/B Multiple ¥4.78 ¥6.37 ¥7.96 55
EV/EBIT ¥11.98 ¥15.09 ¥18.21 53
EV/EBITDA ¥11.07 ¥13.88 ¥16.70 54
EV/Revenue ¥9.30 ¥12.16 ¥15.02 43
Asset-Based
NCAV (Graham) ¥1.65 ¥2.21 ¥3.30 50
Growth DCF
Growth DCF ¥8.96 ¥14.05 ¥22.66 80
Rev-Margin DCF ¥9.25 ¥14.78 ¥22.30 74
Economic Profit
Residual Income ¥2.98 ¥3.36 ¥5.09 76
ROIC Compounder ¥9.01 ¥10.47 ¥12.05 72
Growth Earnings
Growth-Adj P/E ¥5.60 ¥8.00 ¥10.40 68

Widest divergence: DCF Models (¥14.39) versus Asset-Based (¥2.21). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.9B CNY
Revenue growth (YoY) +32.1%
Net margin 6.2%
Return on equity 11.1%
Free cash flow 154M CNY FY2025
P/E ratio 61.1
More key figures
Operating margin 13.5%
EPS (TTM) ¥0.3900
EPS growth (YoY) +16.7%
Net cash 155M CNY FY2024

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 55

Profitability 35
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 87
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 Seagull Cooling Tower Co.,Ltd. engages in design, research and development, manufacturing, and installation of cooling towers in China and internationally.

Full company description

Jiangsu Seagull Cooling Tower Co.,Ltd. engages in design, research and development, manufacturing, and installation of cooling towers in China and internationally. It offers industrial and civil mechanical ventilation cooling towers, including steel-concrete structure, glass fiber reinforced plastic structure, steel structure, open-type environmental protection, energy-saving cooling, water-saving, fog elimination, noise reduction, integrated, closed cooling, and air conditioning cooling towers, as well as packaged, plume abatement, force draft, and other cooling tower related products. The company also provides FRP, concrete, water collection, blast, seawater, and counterflow cooling tower; and components, such as carbon fiber drive shaft, drive eliminator, fan stack, gearbox, grid filler, heat transfer media, horizontal fan assembly, motor, nozzle, and sprinkler. It serves customers in petrochemical, metallurgy, electric power, grain and oil, papermaking, hotels, office buildings, and other fields. Jiangsu Seagull Cooling Tower Co.,Ltd. was founded in 1993 and is based in Changzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Seagull Cooling Tower Co reported revenue of ¥1.8B in FY2025 versus ¥1.1B in FY2021, a compound +13.0%/yr. Reported net income was ¥116M in FY2025, compounding +21.6%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.8B CNY
Latest YoY
+15.4%
Avg. growth/yr (3Y)
+10.8%
Avg. growth/yr (5Y)
+17.2%
Avg. growth/yr (13Y)
+11.5%
Revenue +13.0%/yr
FY21 ¥1.1B
FY22 ¥1.4B
FY23 ¥1.4B
FY24 ¥1.6B
FY25 ¥1.8B
Net income +21.6%/yr
FY21 ¥52.9M
FY22 ¥73.8M
FY23 ¥84.8M
FY24 ¥95.9M
FY25 ¥116M

603269 screens 44% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Jiangsu Seagull Cooling Tower Co Fair Value". https://www.fairvalue-calculator.com/stock/603269

Peer Group

Specialty Industrial Machinery · 810 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 65 · Top 25%
Fair Value upside −44% · Below median
Return on equity (TTM) 11% · Above median
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 14% · Above median
Revenue growth 32% · Top 25%
Debt / equity 0.15× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 61.1× · Pricier than 75% of peers
P/B 7.21× · Pricier than 75% of peers
P/S (TTM) 3.81× · Pricier than median
P/FCF 7.1× · Pricier than median
EV/EBITDA 27.9× · 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 0 · sector 0
FUTURE 100 · sector 23
PAST 44 · sector 28
HEALTH 92 · sector 96
DIVIDEND 0 · sector 24

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Jiangsu Seagull Cooling Tower Co (603269) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ¥7.87 versus a price of ¥14.12, about −44% (overvalued).
What is the fair value of 603269?
Our model-based fair value for Jiangsu Seagull Cooling Tower Co is ¥7.87 (as of Jul 11, 2026), built from audited fundamentals. The current price is ¥14.12.
What is the quality score of 603269?
Jiangsu Seagull Cooling Tower Co has a Quality Score of 65/100. 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 Seagull Cooling Tower Co (603269)?
Jiangsu Seagull Cooling Tower Co reported trailing-twelve-month revenue of about 1.9B CNY (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 603269?
The net profit margin of Jiangsu Seagull Cooling Tower Co is about 6.2%, meaning it keeps roughly 6.2% 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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