Jiangsu United Water Technology Co (603291) Fair Value & Analysis
Utilities · CN · Market cap 3.9B CNY
Fair value as of: Jul 11, 2026
From 21 valuation models · updated 30 days ago
Fair value updated Jul 11, 2026, revised from ¥3.28 to ¥5.17 (+57.7%) since Jun 24, 2026. Share price +10.4% over the past month.
Below-average quality, and screening another 43% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥6.70). The favourable scenario is already priced in.
- Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (¥3.63 to ¥6.70) leaves room in how you read the outcome.
Price vs Fair Value (3 years)
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
40‑month range ¥7.72 – ¥21.23 · fair‑value band ¥3.63 – ¥6.70 · the ¥9.11 price screens above the ¥5.17 fair value. Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Jiangsu United Water Technology Co (603291) currently trades at ¥9.11, while our model-based Fair Value estimate is ¥5.17, implying the stock looks roughly 43.2% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Utilities 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 United Water Technology Co generated revenue of 1.1B CNY at a net margin of 9.7%. Revenue declined 15.0% year over year. It earns a return on equity of 5.8%. Net debt stands at 698M CNY. Fundamentals as of Jul 11, 2026
Our scenario range runs from ¥3.63 (bear case) to ¥6.70 (bull case); at ¥9.11, 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 29% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -10% fair-value upside, at -43%, 603291 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.
All 21 models by family
Widest divergence: Multiples (¥4.07) versus Earnings-Based (¥1.99). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 32
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 United Water Technology Co.,Ltd. owns and operates water supply and wastewater treatment facilities in China. It also provides engineering services related to water supply infrastructure and industrial wastewater pretreatment facilities. The company was founded in 2004 and is based in Shanghai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Jiangsu United Water Technology Co reported revenue of ¥1.1B in FY2025 versus ¥1.0B in FY2021, a compound +1.5%/yr. Reported net income was ¥101M in FY2025, compounding −7.9%/yr from FY2021.
603291 screens 43% overvalued. Compare with American Water Works Company →
Peer Group
Utilities - Regulated Water · 67 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.
Valuation Multiples vs Utilities - Regulated Water median · lower = cheaper
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: 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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| American Water Works Company AWK | $134.33 | $65.80 | -51% |
| SBSP3 SBSP3 | R$29.22 | R$31.23 | +7% |
| SBS SBS | $5.79 | $5.21 | -10% |
| Essential Utilities, Inc WTRG | $38.59 | $21.81 | -43% |
| CSMG3 CSMG3 | R$66.10 | R$60.17 | -9% |
| Grandblue Environment Co 600323 | ¥29.42 | ¥33.29 | +13% |
| American States Water Company AWR | $85.01 | $48.02 | -44% |
| Chengdu Xingrong Environment Co 000598 | ¥6.97 | ¥10.74 | +54% |
| California Water Service Group CWT | $49.73 | $33.56 | -33% |
| Chongqing Water Group 601158 | ¥4.12 | ¥2.77 | -33% |
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Frequently asked questions
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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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