Zhejiang Meilun Elevator Co Ltd (603321) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Zhejiang Meilun Elevator Co Ltd stock ¥1.36, price ¥6.14, that is 77.9% below the price, quality 30 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range ¥4.76 – ¥9.05 · fair‑value band ¥1.22 – ¥1.69 · the ¥6.14 price screens above the ¥1.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Zhejiang Meilun Elevator Co., Ltd. designs, manufactures, and sells elevators and escalators in China. It offers passenger, freight, old residential areas, household, medical, and sightseeing elevators, as well as escalators, moving walkways, stereo garages, and accessories.
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Its products are used for applications in shopping malls, supermarkets, stations, airports, overpasses and other public transportation facilities, residential areas, commercial complexes, hotels, office buildings, industrial parks, factories, warehousing and logistics centers, and factories, restaurants, libraries, etc.
The company was founded in 1978 and is based in Shaoxing, China.
Stock analysis
Zhejiang Meilun Elevator Co Ltd (603321) currently trades at ¥6.14, while our model-based Fair Value estimate is ¥1.36, 78% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥2.86 per share, and 1 of the 14 models we run sit above the ¥6.14 price.
Bear case: the Earnings-Based group reads lowest at ¥0.9250, and 13 of the 14 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥1.22 (bear) to ¥1.69 (bull), the price of ¥6.14 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 30/100 (below-average quality), in the Industrials sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Zhejiang Meilun Elevator Co Ltd reported revenue of 678M CNY in FY2025 versus 1.1B CNY in FY2021, a compound −10.6%/yr. Reported net income was 32.3M CNY in FY2025, compounding −7.4%/yr from FY2021.
Key figures
Market cap 2.1B CNY (≈ $321M) Small · P/E ratio 61.4 · P/S ratio 2.92 · EPS (TTM) ¥0.1000 · Dividend yield 3.3% · Net margin 4.8% · Return on equity 3.4% · Return on assets (EBIT) 3.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −78%, 603321 screens richer than that median.
Fair Value models
Bear¥1.22Fair Value ¥1.36Bull¥1.69
Price ¥6.14 · Downside -77.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
Residual Income¥2.71¥2.75¥2.8576
EPV¥1.05¥1.08¥1.1170
ROIC Compounder¥1.05¥1.08¥1.1170
All 14 models by family
Earnings-Based
Graham-Dodd¥0.6300¥0.7700¥0.870067
EPV¥1.05¥1.08¥1.1170
Dividend Discount
Gordon GGM¥1.43¥1.55¥1.7269
DDM Multi-Stage¥1.43¥1.72¥2.1167
Multiples
P/E Multiple¥1.46¥1.95¥2.4363
P/S Multiple¥1.18¥1.58¥1.9758
P/B Multiple¥6.72¥8.95¥11.1955
EV/EBIT¥2.75¥2.95¥3.1563
EV/EBITDA¥3.76¥4.29¥4.8364
EV/Revenue¥2.59¥2.77¥2.9552
Asset-Based
NCAV (Graham)¥1.05¥1.60¥1.9952
Economic Profit
Residual Income¥2.71¥2.75¥2.8576
ROIC Compounder¥1.05¥1.08¥1.1170
Growth Earnings
Growth-Adj P/E¥1.03¥1.47¥1.9167
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
−4.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.0%
Dividend (yield on the price)3.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−8.0% vs −13.4%, picking up
Profit margin 2020 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.8% → 2%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 2.6%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Zhejiang Meilun Elevator Co Ltd with another stock
Price, fair value, quality and upside side by side.
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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 Industrial Machinery · 813 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside−77.9% · Bottom 25%
Profitability
Return on equity (12 months)3.4% · Below median
Return on assets1.5% · Below median
Net margin (12 months)6.4% · Above median
Operating margin (12 months)4.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)3.9% · Below median
Dividend yield (12 months)3.3% · Top 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
P/E (12 months)61.4× · Priciest 25%
P/B1.49× · Cheaper than median
P/S (12 months)2.92× · Pricier than median
EV/EBITDA34.2× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)20· sector 30
PAST (return on equity)13· sector 28
HEALTH (low debt)0· sector 96
DIVIDEND (yield)65· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Zhejiang Meilun Elevator Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603321
Frequently asked questions
Is Zhejiang Meilun Elevator Co Ltd (603321) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ¥1.36 versus a price of ¥6.14, about 78% lower (overvalued).
What is the fair value of 603321?
Our model-based fair value for Zhejiang Meilun Elevator Co Ltd is ¥1.36 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥6.14.
What is the quality score of 603321?
Zhejiang Meilun Elevator Co Ltd has a Quality Score of 30/100. 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 Meilun Elevator Co Ltd (603321)?
Our model-based price target is the fair value of ¥1.36 (as of Nov 5, 2026) from 14 valuation models. Cautious scenario ¥1.22, optimistic scenario ¥1.69. It is a calculation from audited fundamentals, not an analyst target.
What is the Zhejiang Meilun Elevator Co Ltd stock forecast for 2026?
Our models put fair value at ¥1.36, about 78% lower versus a price of ¥6.14 (overvalued). Cautious scenario ¥1.22, optimistic scenario ¥1.69. The calculation is refreshed regularly with new filings.
What is the revenue of Zhejiang Meilun Elevator Co Ltd (603321)?
Zhejiang Meilun Elevator Co Ltd reported trailing-twelve-month revenue of about 734M CNY (latest available figure, as of Nov 5, 2026).
Does Zhejiang Meilun Elevator Co Ltd pay a dividend?
Zhejiang Meilun Elevator Co Ltd currently shows a dividend yield of 3.26% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Zhejiang Meilun Elevator Co Ltd (603321) and when is the ex-dividend date?
Zhejiang Meilun Elevator Co Ltd pays a dividend of ¥0.2 per share a year, a dividend yield of 3.3%. The last ex-dividend date was Jun 18, 2026. The payout ratio is 200% of earnings. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What is the intrinsic value of Zhejiang Meilun Elevator Co Ltd (603321)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zhejiang Meilun Elevator Co Ltd it is ¥1.36 per share (as of Nov 5, 2026), against a price of ¥6.14. It is the blended result of 14 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Zhejiang Meilun Elevator Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 603321 trades above its calculated fair value: price ¥6.14, fair value ¥1.36, a gap of about −78% (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 603321?
No. The price is what the market pays today (¥6.14); the fair value is what the company's own numbers justify (¥1.36). For Zhejiang Meilun Elevator Co Ltd the two are ¥4.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zhejiang Meilun Elevator Co Ltd worth?
The market values Zhejiang Meilun Elevator Co Ltd at about 2.1B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥6.14; our models calculate a fair value of ¥1.36 per share.
What do the bullish and bearish scenarios say about 603321?
Our models span a range for Zhejiang Meilun Elevator Co Ltd: cautious scenario ¥1.22, base ¥1.36, optimistic ¥1.69 per share (as of Nov 5, 2026, price ¥6.14). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603321?
Zhejiang Meilun Elevator Co Ltd trades at a price-to-earnings ratio of 61.4 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥1.36 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 45.2. Other multiples: P/B 1.5, P/S 2.9, EV/EBITDA 34.2.
How solid is the balance sheet of Zhejiang Meilun Elevator Co Ltd (603321)?
Balance-sheet figures for Zhejiang Meilun Elevator Co Ltd (as of Nov 5, 2026): return on equity 3.4%. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is 603321 from its 52-week high?
Zhejiang Meilun Elevator Co Ltd trades at ¥6.14, about 28% below its 52-week high of ¥8.58 and 12% above the low of ¥5.46 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.36 is for.
Which stocks are comparable to Zhejiang Meilun Elevator Co Ltd?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, 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 Meilun Elevator Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price ¥6.14, calculated fair value ¥1.36 (−78%), Quality Score 30/100, from 14 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 603321 calculated?
We run Zhejiang Meilun Elevator Co Ltd through 14 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥1.36 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Zhejiang Meilun Elevator Co Ltd 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 Meilun Elevator Co Ltd (603321)?
The closing price on Nov 6, 2026 was ¥6.14. Our model-based fair value is ¥1.36, about 78% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zhejiang Meilun Elevator Co Ltd right now?
The price sits above even our optimistic bull case (¥1.69). The favourable scenario is already priced in. Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Zhejiang Meilun Elevator Co Ltd (603321) come from?
Earnings per share at Zhejiang Meilun Elevator Co Ltd grew −3.7 % a year from 2013 to 2024. Broken into its drivers: revenue per share −1.7 %, EBIT margin −2.3 %, tax rate +0.1 %, residual (interest, one-offs) +0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Zhejiang Meilun Elevator Co Ltd
How large is the market capitalisation of Zhejiang Meilun Elevator Co Ltd (603321)?
The market capitalisation of Zhejiang Meilun Elevator Co Ltd is 2.1B CNY (≈ $321M). 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 Meilun Elevator Co Ltd (603321)?
The price-to-sales ratio of Zhejiang Meilun Elevator Co Ltd is 2.92 (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 Meilun Elevator Co Ltd (603321)?
Earnings per share at Zhejiang Meilun Elevator Co Ltd are ¥0.1000 (price ÷ EPS = P/E 61.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zhejiang Meilun Elevator Co Ltd (603321)?
The dividend yield of Zhejiang Meilun Elevator Co Ltd is 3.3% (payout 200%). 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 Meilun Elevator Co Ltd (603321)?
The net margin of Zhejiang Meilun Elevator Co Ltd is 4.8% (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 Meilun Elevator Co Ltd (603321)?
The return on equity (ROE) of Zhejiang Meilun Elevator Co Ltd is 3.4% (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 Meilun Elevator Co Ltd (603321)?
On an EBIT basis the return on assets of Zhejiang Meilun Elevator Co Ltd is 3.6% (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 Meilun Elevator Co Ltd (603321)?
The operating margin of Zhejiang Meilun Elevator Co Ltd is 4.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zhejiang Meilun Elevator Co Ltd (603321)?
Revenue at Zhejiang Meilun Elevator Co Ltd is growing +3.9% versus a year earlier (3y avg −12.6%). 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 Meilun Elevator Co Ltd (603321)?
Earnings per share at Zhejiang Meilun Elevator Co Ltd are growing −12.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Zhejiang Meilun Elevator Co Ltd (603321) generate?
The free cash flow of Zhejiang Meilun Elevator Co Ltd is −85.3M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Zhejiang Meilun Elevator Co Ltd (603321) hold?
Zhejiang Meilun Elevator Co Ltd holds more cash than debt, 753M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Nov 5, 2026