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Jiangsu Shemar Electric Co (603530) Fair Value & Analysis

Industrials · CN · Market cap 23.2B CNY

JS Jiangsu Shemar Electric Co 603530 · SHG
Price¥44.84
Fair Value¥17.81
Upside-60.3%
Quality70/100
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Expensive Growth
Highly profitable · 25.4% net margin
Low debt · negative free cash flow
0.66% dividend yield
Mixed vs. peers (6/13)
Wide moat 85/100
Evidence: High Range ¥10.61 – ¥22.37 Share as image

Fair value as of: Jul 12, 2026

From 17 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from ¥18.72 to ¥17.81 (−4.9%) since Jun 24, 2026. Share price −8.8% over the past month.

A solid business, but screening 60% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (¥22.37). The favourable scenario is already priced in.
  • A fairly wide model range (¥10.61 to ¥22.37) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥71.48 ¥9.13 Fair Value ¥17.81 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥9.13 – ¥71.48 · fair‑value band ¥10.61 – ¥22.37 · the ¥44.84 price screens above the ¥17.81 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Jiangsu Shemar Electric Co (603530) currently trades at ¥44.84, while our model-based Fair Value estimate is ¥17.81, implying the stock looks roughly 60.3% overvalued today. The Quality Score stands at 70/100 (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 Shemar Electric Co generated revenue of 1.8B CNY at a net margin of 25.4%. Revenue grew 33.5% year over year. It earns a return on equity of 24.6%. Net debt stands at 201M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥10.61 (bear case) to ¥22.37 (bull case); at ¥44.84, 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 39% below its 52-week high and 90% 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 -60%, 603530 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 ¥6.51 ¥8.35 ¥35.99 76
ROIC Compounder ¥12.69 ¥18.11 ¥25.57 72
Gordon GGM ¥4.31 ¥8.97 ¥14.23 70
All 17 models by family
DCF Models
Owner Earnings ¥10.12 ¥22.35 ¥47.52 31
Earnings-Based
Graham-Dodd ¥6.80 ¥45.72 ¥64.06 54
Lynch FV ¥13.39 ¥19.13 ¥24.87 50
PEG = 1.0 ¥13.39 ¥19.13 ¥24.87 46
EPV ¥10.35 ¥12.06 ¥13.55 59
Dividend Discount
Gordon GGM ¥4.31 ¥8.97 ¥14.23 70
DDM Multi-Stage ¥4.31 ¥7.56 ¥9.41 61
Multiples
P/E Multiple ¥15.75 ¥21.00 ¥26.25 63
P/S Multiple ¥5.98 ¥7.97 ¥9.97 58
P/B Multiple ¥12.75 ¥17.00 ¥21.25 55
EV/EBIT ¥15.43 ¥20.54 ¥25.64 53
EV/EBITDA ¥13.82 ¥18.38 ¥22.95 54
EV/Revenue ¥5.14 ¥7.29 ¥9.44 43
Asset-Based
NCAV (Graham) ¥2.08 ¥2.79 ¥4.16 50
Economic Profit
Residual Income ¥6.51 ¥8.35 ¥35.99 76
ROIC Compounder ¥12.69 ¥18.11 ¥25.57 72
Growth Earnings
Growth-Adj P/E ¥18.57 ¥26.53 ¥34.50 68

Widest divergence: Growth Earnings (¥26.53) versus Asset-Based (¥2.79). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.8B CNY
Revenue growth (YoY) +33.5%
Net margin 25.4%
Return on equity 24.6%
Free cash flow −121M CNY FY2025
P/E ratio 48.8
More key figures
Operating margin 32.2%
EPS (TTM) ¥1.10
Dividend yield 0.7%
EPS growth (YoY) +50.0%
Net debt 201M CNY FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 65 · Market factors (momentum, volatility) 55

Profitability 75
Margins and returns on capital today
Quality Growth 94
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 80
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 Shemar Electric Co.,Ltd engages in the research and development, production, and sale of composite external insulation for power system substations, composite external insulation for power transmission and distribution lines, and rubber seals in China.

Full company description

Jiangsu Shemar Electric Co.,Ltd engages in the research and development, production, and sale of composite external insulation for power system substations, composite external insulation for power transmission and distribution lines, and rubber seals in China. It offers transmission line products, including line post, braced line post, and composite insulators; substation includes substation post insulators, compact composite substation gantry, new explosion-proof transformer composite bushing, anti-flashover solution, and overall sealing solution; and distributes distribution line post insulator. The company also engages in; and sale of rubber products, power equipment, and molds; provides hollow, post, and line insulators and bushings, crossarms, transmission conductors, dry-type insulated tubular busbars, cable accessories, substation support structures, gas-insulated pipeline busbars, pot-type insulators, insulator auxiliary skirts, power transmission and distribution equipment and their parts; processing and sales of mechanical molds and accessories, as well as technology development, technical support, technical services, and technical consulting. Further, the company is involved in the export of products and technology; and import business for machinery, equipment, spare parts, raw materials, and technologies. The company was founded in 1996 and is based in Nantong, China. Jiangsu Shemar Electric Co.,Ltd operates as a subsidiary of Shanghai Shenma Electric Power Holdings Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Shemar Electric Co reported revenue of ¥1.7B in FY2025 versus ¥731M in FY2021, a compound +23.9%/yr. Reported net income was ¥432M in FY2025, compounding +43.9%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.7B CNY
Latest YoY
+27.9%
Avg. growth/yr (3Y)
+32.6%
Avg. growth/yr (5Y)
+21.0%
Avg. growth/yr (11Y)
+16.9%
Revenue +23.9%/yr
FY21 ¥731M
FY22 ¥737M
FY23 ¥959M
FY24 ¥1.3B
FY25 ¥1.7B
Net income +43.9%/yr
FY21 ¥101M
FY22 ¥49.1M
FY23 ¥158M
FY24 ¥311M
FY25 ¥432M

603530 screens 60% overvalued. Compare with Contemporary Amperex Technology Co →

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Cite: Fair Value Calculator (2026). "Jiangsu Shemar Electric Co Fair Value". https://www.fairvalue-calculator.com/stock/603530

Peer Group

Electrical Equipment & Parts · 528 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 70 · Top 25%
Fair Value upside −60% · Below median
Return on equity (TTM) 25% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth 34% · Top 25%
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper

P/E (TTM) 48.8× · Pricier than median
P/B 12.90× · Pricier than 75% of peers
P/S (TTM) 12.75× · Pricier than 75% of peers
EV/EBITDA 37.1× · 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 57
PAST 98 · sector 26
HEALTH 94 · sector 97
DIVIDEND 13 · sector 18

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Jiangsu Shemar Electric Co (603530) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥17.81 versus a price of ¥44.84, about −60% (overvalued).
What is the fair value of 603530?
Our model-based fair value for Jiangsu Shemar Electric Co is ¥17.81 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥44.84.
What is the quality score of 603530?
Jiangsu Shemar Electric Co has a Quality Score of 70/100. 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 Shemar Electric Co (603530)?
Jiangsu Shemar Electric Co reported trailing-twelve-month revenue of about 1.8B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 603530?
The net profit margin of Jiangsu Shemar Electric Co is about 25.4%, meaning it keeps roughly 25.4% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Shemar Electric Co pay a dividend?
Jiangsu Shemar Electric Co currently shows a dividend yield of about 0.66% relative to its recent price (as of Jul 12, 2026).

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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