Qijing Machinery (603677) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Qijing Machinery stock ¥5.53, price ¥14.00, that is 60.5% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 15 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 8, 2026.
How to read this chart
60‑month range ¥8.35 – ¥31.01 · fair‑value band ¥3.93 – ¥7.29 · the ¥14.00 price screens above the ¥5.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Qijing Machinery Co., Ltd. researches and develops, produces, and sells electric tool parts in China.
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It offers home appliance parts, such as washing machine clutch parts, washing machine injection molding parts, drum washing machine spare parts, and dishwasher parts; auto parts including engine parts, gearbox parts, engineering machinery parts, etc., mainly used in automobile car engines, automotive parts, gearboxes, transmissions, and engineering hydraulic systems; and power tool parts comprising shafts, cylinder sleeves, tool handles, and other parts used to assemble professional-grade electric tools.
The company was founded in 1996 and is headquartered in Ningbo, China.
Stock analysis
Qijing Machinery (603677) currently trades at ¥14.00, while our model-based Fair Value estimate is ¥5.53, 61% 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 ¥6.06 per share, and 0 of the 15 models we run sit above the ¥14.00 price.
Bear case: the Asset-Based group reads lowest at ¥1.89, and 15 of the 15 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥3.93 (bear) to ¥7.29 (bull), the price of ¥14.00 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 49/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Qijing Machinery reported revenue of 2.1B CNY in FY2025 versus 2.0B CNY in FY2021, a compound +0.8%/yr. Reported net income was 48.2M CNY in FY2025, compounding −14.2%/yr from FY2021.
Key figures
Market cap 2.7B CNY (≈ $404M) Small · P/E ratio 233.3 · P/S ratio 1.26 · EPS (TTM) ¥0.0600 · Dividend yield 1.4% · Net margin 0.5% · Return on equity 0.8% · Return on assets (EBIT) 3.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 24 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −23% fair-value upside, at −61%, 603677 screens richer than that median.
Fair Value models
Bear¥3.93Fair Value ¥5.53Bull¥7.29
Price ¥14.00 · Downside -60.5%
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¥4.37¥4.35¥4.4776
EPV¥2.47¥2.92¥3.3074
ROIC Compounder¥2.47¥2.92¥3.3072
All 15 models by family
Earnings-Based
Graham-Dodd¥1.70¥4.36¥5.6865
PEG = 1.0¥0.8200¥1.17¥1.5257
EPV¥2.47¥2.92¥3.3074
Dividend Discount
Gordon GGM¥2.54¥4.50¥6.7367
DDM Multi-Stage¥2.54¥3.71¥4.8567
Multiples
P/E Multiple¥4.13¥5.51¥6.8963
P/S Multiple¥3.19¥4.26¥5.3258
P/B Multiple¥10.08¥13.44¥16.8055
EV/EBIT¥4.73¥6.60¥8.4766
EV/EBITDA¥7.16¥9.83¥12.5167
EV/Revenue¥2.91¥4.53¥6.1553
Asset-Based
NCAV (Graham)¥1.25¥1.89¥2.3754
Economic Profit
Residual Income¥4.37¥4.35¥4.4776
ROIC Compounder¥2.47¥2.92¥3.3072
Growth Earnings
Growth-Adj P/E¥3.20¥4.57¥5.9467
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+3.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.8%
Start year 2020 (pandemic). Over 10 years: +5.1% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.2%
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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.
−7.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.9%
Dividend (yield on the price)1.4%
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.−8.9% vs −7.4%, steady
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.4% → 4%
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.Auto Parts · 655 stocks
Beats the industry median on 1/13 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−60.5% · Bottom 25%
Profitability
Return on equity (12 months)0.8% · Bottom 25%
Return on assets2.2% · Below median
Net margin (12 months)0.5% · Bottom 25%
Operating margin (12 months)3.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)19.7% · Top 25%
Dividend yield (12 months)1.4% · Below median
Balance sheet
Debt / equity0.29× · Highest 25%
Valuation Multiplesvs Auto Parts median · lower = cheaper
P/E (12 months)233.3× · Priciest 25%
P/B2.32× · Pricier than median
P/S (12 months)1.26× · Pricier than median
EV/EBITDA25.9× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 33
FUTURE (revenue growth)99· sector 34
PAST (return on equity)3· sector 31
HEALTH (low debt)85· sector 95
DIVIDEND (yield)29· sector 39
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). "Qijing Machinery Fair Value". https://www.fairvalue-calculator.com/stock/603677
Frequently asked questions
Is Qijing Machinery (603677) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of ¥5.53 versus a price of ¥14.00, about 61% lower (overvalued).
What is the fair value of 603677?
Our model-based fair value for Qijing Machinery is ¥5.53 (as of Nov 8, 2026), built from audited fundamentals. The current price: ¥14.00.
What is the quality score of 603677?
Qijing Machinery has a Quality Score of 49/100. 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 Qijing Machinery (603677)?
Our model-based price target is the fair value of ¥5.53 (as of Nov 8, 2026) from 15 valuation models. Cautious scenario ¥3.93, optimistic scenario ¥7.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Qijing Machinery stock forecast for 2026?
Our models put fair value at ¥5.53, about 61% lower versus a price of ¥14.00 (overvalued). Cautious scenario ¥3.93, optimistic scenario ¥7.29. The calculation is refreshed regularly with new filings.
What is the revenue of Qijing Machinery (603677)?
Qijing Machinery reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Nov 8, 2026).
Does Qijing Machinery pay a dividend?
Qijing Machinery currently shows a dividend yield of 1.43% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Qijing Machinery (603677) and when is the ex-dividend date?
Qijing Machinery pays a dividend of ¥0.2 per share a year, a dividend yield of 1.4%. The last ex-dividend date was Apr 30, 2026. 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 Qijing Machinery (603677)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Qijing Machinery it is ¥5.53 per share (as of Nov 8, 2026), against a price of ¥14.00. It is the blended result of 15 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Qijing Machinery stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 603677 trades above its calculated fair value: price ¥14.00, fair value ¥5.53, a gap of about −61% (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 603677?
No. The price is what the market pays today (¥14.00); the fair value is what the company's own numbers justify (¥5.53). For Qijing Machinery the two are ¥8.47 per share apart. That gap is exactly why we show both numbers side by side.
How much is Qijing Machinery worth?
The market values Qijing Machinery at about 2.7B CNY (market capitalisation, as of Nov 8, 2026). Per share that is ¥14.00; our models calculate a fair value of ¥5.53 per share.
What do the bullish and bearish scenarios say about 603677?
Our models span a range for Qijing Machinery: cautious scenario ¥3.93, base ¥5.53, optimistic ¥7.29 per share (as of Nov 8, 2026, price ¥14.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603677?
Qijing Machinery trades at a price-to-earnings ratio of 233.3 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥5.53 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2018 to 2025), reported earnings: 36.2. Other multiples: P/B 2.3, P/S 1.3, EV/EBITDA 25.9.
How solid is the balance sheet of Qijing Machinery (603677)?
Balance-sheet figures for Qijing Machinery (as of Nov 8, 2026): return on equity 0.8%, debt of 0.29 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 603677 from its 52-week high?
Qijing Machinery trades at ¥14.00, about 34% below its 52-week high of ¥21.25 and 14% above the low of ¥12.31 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥5.53 is for.
Which stocks are comparable to Qijing Machinery?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Qijing Machinery stock attractive at the current price?
The data as of Nov 8, 2026: price ¥14.00, calculated fair value ¥5.53 (−61%), Quality Score 49/100, from 15 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 603677 calculated?
We run Qijing Machinery through 15 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 ¥5.53 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. Qijing Machinery 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 Qijing Machinery (603677)?
The closing price on Nov 6, 2026 was ¥14.00. Our model-based fair value is ¥5.53, about 61% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Qijing Machinery right now?
The price sits above even our optimistic bull case (¥7.29). The favourable scenario is already priced in. Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (¥3.93 to ¥7.29) leaves room in how you read the outcome.
Where does the earnings growth of Qijing Machinery (603677) come from?
Earnings per share at Qijing Machinery grew −4.0 % a year from 2013 to 2024. Broken into its drivers: revenue per share +0.5 %, EBIT margin −7.8 %, tax rate +2.9 %, residual (interest, one-offs) +0.7 %. 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 Qijing Machinery
How large is the market capitalisation of Qijing Machinery (603677)?
The market capitalisation of Qijing Machinery is 2.7B CNY (≈ $404M). 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 Qijing Machinery (603677)?
The price-to-sales ratio of Qijing Machinery is 1.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Qijing Machinery (603677)?
Earnings per share at Qijing Machinery are ¥0.0600 (price ÷ EPS = P/E 233.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Qijing Machinery (603677)?
The dividend yield of Qijing Machinery is 1.4%. 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 Qijing Machinery (603677)?
The net margin of Qijing Machinery is 0.5% (last twelve months). 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 Qijing Machinery (603677)?
The return on equity (ROE) of Qijing Machinery is 0.8% (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 Qijing Machinery (603677)?
On an EBIT basis the return on assets of Qijing Machinery 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 Qijing Machinery (603677)?
The operating margin of Qijing Machinery is 3.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Qijing Machinery (603677)?
Revenue at Qijing Machinery is growing +19.7% versus a year earlier (3y avg +4.6%). 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 Qijing Machinery (603677)?
Earnings per share at Qijing Machinery are growing −22.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Qijing Machinery (603677) generate?
The free cash flow of Qijing Machinery is −101M 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 debt does Qijing Machinery (603677) carry?
The net debt of Qijing Machinery is 168M CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 8, 2026