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Shuifa Energas Gas Co (603318) Fair Value & Analysis

Energy · CN · Market cap 5.0B CNY

SE Shuifa Energas Gas Co 603318 · SHG
Price¥9.10
Fair Value¥7.32
Upside-19.6%
Quality36/100
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Mixed Growth
Loss-making · -3.8% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Narrow moat 19/100
Evidence: Medium Range ¥4.11 – ¥8.75 Share as image

Fair value as of: Aug 10, 2026

From 14 valuation models · updated today

Fair value updated Aug 10, 2026, revised from ¥3.66 to ¥7.32 (+100.0%) since Jul 11, 2026. Share price +16.5% over the past month.

Below-average quality, and screening another 20% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥8.75). The favourable scenario is already priced in.
  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (¥4.11 to ¥8.75) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥14.55 ¥5.46 Fair Value ¥7.32 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 ¥5.46 – ¥14.55 · fair‑value band ¥4.11 – ¥8.75 · the ¥9.10 price screens above the ¥7.32 fair value. Dashed = 300-day average. As of Aug 10, 2026.

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Analysis

Shuifa Energas Gas Co (603318) currently trades at ¥9.10, while our model-based Fair Value estimate is ¥7.32, implying the stock looks roughly 19.6% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Energy 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: medium).

Over the trailing twelve months, Shuifa Energas Gas Co generated revenue of 2.4B CNY at a net margin of -3.8%. Revenue declined 17.6% year over year. It earns a return on equity of -2.0%. Net debt stands at 725M CNY. Fundamentals as of Aug 10, 2026

Our scenario range runs from ¥4.11 (bear case) to ¥8.75 (bull case); at ¥9.10, 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 40% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -20%, 603318 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 ¥0.2900 ¥0.7000 ¥1.33 80
ROIC Compounder ¥2.92 ¥4.18 ¥5.23 72
Gordon GGM ¥1.37 ¥2.73 ¥4.14 70
All 14 models by family
DCF Models
FCF DCF ¥0.3100 ¥0.6300 ¥1.43 38
5Y Revenue Exit ¥2.74 ¥6.20 ¥11.38 39
5Y EBITDA Exit ¥1.89 ¥4.27 ¥7.55 41
10Y Revenue Exit ¥1.80 ¥4.84 ¥10.09 36
10Y EBITDA Exit ¥1.37 ¥3.37 ¥6.97 37
Earnings-Based
EPV ¥2.74 ¥3.19 ¥3.57 59
Dividend Discount
Gordon GGM ¥1.37 ¥2.73 ¥4.14 70
DDM Multi-Stage ¥1.37 ¥2.36 ¥2.88 61
Multiples
EV/EBIT ¥3.06 ¥4.12 ¥5.17 53
EV/EBITDA ¥2.72 ¥3.66 ¥4.60 54
EV/Revenue ¥3.74 ¥5.39 ¥7.04 43
Asset-Based
NCAV (Graham) ¥1.25 ¥1.67 ¥2.49 50
Growth DCF
Growth DCF ¥0.2900 ¥0.7000 ¥1.33 80
Economic Profit
ROIC Compounder ¥2.92 ¥4.18 ¥5.23 72

Widest divergence: DCF Models (¥4.27) versus Growth DCF (¥0.7000). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.4B CNY
Revenue growth (YoY) -17.6%
Net margin -3.8%
Return on equity -2.0%
Free cash flow 16.7M CNY FY2025
Operating margin 8.5%
More key figures
EPS (TTM) ¥-0.2000
EPS growth (YoY) -75.0%
Net debt 725M CNY FY2025

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

Quality Score breakdown

Overall quality 36/100

Of which business quality 35 · Market factors (momentum, volatility) 49

Profitability 13
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 18
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 56
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

Shuifa Energas Gas Co., Ltd. engages in the liquified natural gas (LNG) business in China and internationally. The company engages in the production and sale of liquified natural gas, CNG, and heavy hydrocarbons; trading of LNG; operation of gas supply lines; sale and installation of pipeline gas; and the production and installation of gas and gas system …

Full company description

Shuifa Energas Gas Co., Ltd. engages in the liquified natural gas (LNG) business in China and internationally. The company engages in the production and sale of liquified natural gas, CNG, and heavy hydrocarbons; trading of LNG; operation of gas supply lines; sale and installation of pipeline gas; and the production and installation of gas and gas system engineering equipment products. It also invests, develops, designs, installs, commissions, operates, and maintains distributed energy. Shuifa Energas Gas Co., Ltd. was formerly known as Dalian Energas Gas-System Co., Ltd. Shuifa Energas Gas Co., Ltd. was founded in 2002 and is based in Jinan, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shuifa Energas Gas Co reported revenue of ¥2.6B in FY2025 versus ¥2.6B in FY2021, a compound −0.6%/yr. Reported net income was −¥78.8M in FY2025.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.6B CNY
Latest YoY
−1.5%
Avg. growth/yr (3Y)
−9.7%
Avg. growth/yr (5Y)
+17.6%
Avg. growth/yr (14Y)
+19.8%
Revenue −0.6%/yr
FY21 ¥2.6B
FY22 ¥3.5B
FY23 ¥3.3B
FY24 ¥2.6B
FY25 ¥2.6B
Net income
FY21 ¥41.2M
FY22 ¥53.5M
FY23 ¥80.5M
FY24 ¥103M
FY25 −¥78.8M

603318 screens 20% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "Shuifa Energas Gas Co Fair Value". https://www.fairvalue-calculator.com/stock/603318

Peer Group

Oil & Gas Equipment & Services · 191 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 36 · Bottom 25%
Fair Value upside −20% · Above median
Return on assets 3% · Below median
Net margin (TTM) -4% · Bottom 25%
Operating margin (TTM) 8% · Above median
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.45× · Higher than median

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/B 0.54× · Cheaper than 75% of peers
P/S (TTM) 0.31× · Cheaper than 75% of peers
P/FCF 44.8× · Pricier than 75% of peers
EV/EBITDA 2.6× · Cheaper 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 7 · sector 0
FUTURE 0 · sector 0
PAST 0 · sector 28
HEALTH 78 · sector 92
DIVIDEND 0 · sector 31

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Aug 10, 2026).

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 533.97 MXN -36%
Baker Hughes Company BKR $55.95 $33.55 -40%
TechnipFMC plc FTI $74.57 $27.57 -63%
Halliburton Company HAL $35.22 $21.50 -39%
Tenaris S.A TS $57.16 $45.68 -20%
Yantai Jereh Oilfield Services Group 002353 ¥138.79 ¥34.17 -75%
Saipem SpA SPM €4.20 €2.72 -35%
Subsea 7 S.A SUBC kr 319.00 kr 227.98 -29%
China Oilfield Services Limited 601808 ¥12.08 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €188.10 €95.01 -49%

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Frequently asked questions

Is Shuifa Energas Gas Co (603318) overvalued or undervalued?
As of Aug 10, 2026, our model estimates a fair value of ¥7.32 versus a price of ¥9.10, about −20% (overvalued).
What is the fair value of 603318?
Our model-based fair value for Shuifa Energas Gas Co is ¥7.32 (as of Aug 10, 2026), built from audited fundamentals. The current price is ¥9.10.
What is the quality score of 603318?
Shuifa Energas Gas Co has a Quality Score of 36/100. 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 Shuifa Energas Gas Co (603318)?
Shuifa Energas Gas Co reported trailing-twelve-month revenue of about 2.4B CNY (latest available figure, as of Aug 10, 2026).
What is the net profit margin of 603318?
The net profit margin of Shuifa Energas Gas Co is about -3.8%, meaning it is currently running at a net loss. 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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