Skshu Paint Co Ltd (603737) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Skshu Paint Co Ltd stock ¥22.11, price ¥23.65, that is 6.5% below the price, quality 55 out of 100. Rating: fairly valued. Calculated from audited financials with 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 ¥18.97 – ¥95.09 · fair‑value band ¥15.48 – ¥28.76 · the ¥23.65 price screens above the ¥22.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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SKSHU Paint Co.,Ltd. produces and sells architectural coatings, waterproof materials, floor materials, thermal insulation materials and thermal insulation integration in China.
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The company offers art paint, standard latex paint, gold stone, etc.; as well as interior and exterior wall paint, such as multi-color paint, real stone paint, permanent color stone, inorganic paint, heat reflective insulation paint, etc.
It also provides polymer waterproof membranes, modified asphalt waterproof membranes, non-asphalt-based waterproof membranes, vegetable oil polyurethane series waterproof coatings, non-curing rubber asphalt waterproof coatings, polymer cement waterproof coatings, water-based waterproof coatings, and others; epoxy floor system, including high-solid epoxy floor, solvent-free epoxy floor and water-based epoxy floor; acrylic polyurethane floor, solvent-free bio-based vegetable oil polyurethane floor, water-based polyurethane floor and solvent-free polyurea floor; wear-resistant aggregate floor and liquid hardener floor; and super wear-resistant floor, epoxy colored sand floor, static conductive/anti-static floor, epoxy terrazzo floor and inorganic terrazzo.
In addition, the company offers exterior wall thermal insulation and decoration integrated panel system, exterior wall thermal insulation thin plastering system, internal thermal insulation system, light decorative hanging board, radiation self-cooling energy-saving coating; and industrial wood coatings for furniture, doors, and windows and other wood product manufacturers.
The company was founded in 2002 and is headquartered in Putian, China.
Stock analysis
Skshu Paint Co Ltd (603737) currently trades at ¥23.65, while our model-based Fair Value estimate is ¥22.11, so the stock looks roughly fairly valued today (gap 7.0%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥39.78 per share, and 11 of the 26 models we run sit above the ¥23.65 price.
Bear case: the Dividend Discount group reads lowest at ¥12.53, and 15 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥15.48 (bear) to ¥28.76 (bull), the price of ¥23.65 sits inside 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 55/100 (solid quality), in the Basic Materials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Skshu Paint Co Ltd reported revenue of 12.5B CNY in FY2025 versus 11.4B CNY in FY2021, a compound +2.3%/yr. Reported net income was 775M CNY in FY2025.
Key figures
Market cap 20.6B CNY (≈ $3.1B) Mid · P/E ratio 32.8 · P/S ratio 1.62 · EPS (TTM) ¥0.7200 · Dividend yield 0.2% · Net margin 5.0% · Return on equity 18.2% · Return on assets (EBIT) 2.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 59% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at −6%, 603737 screens cheaper than that median.
Fair Value models
Bear¥15.48Fair Value ¥22.11Bull¥28.76
Price ¥23.65 · Downside -6.5%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.5667 per share) are deliberately not added.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
FCF DCF¥25.27¥42.43¥89.3275
Residual Income¥5.13¥6.10¥9.5275
EPV¥12.77¥14.79¥16.5474
All 26 models by family
DCF Models
FCF DCF¥25.27¥42.43¥89.3275
Owner Earnings¥18.76¥40.99¥85.7471
5Y Revenue Exit¥17.73¥31.56¥56.6270
5Y EBITDA Exit¥18.35¥32.93¥57.6872
5Y P/E Exit¥15.18¥27.61¥42.9869
10Y Revenue Exit¥19.40¥36.28¥57.2765
10Y EBITDA Exit¥20.37¥37.42¥66.9765
10Y P/E Exit¥18.19¥31.64¥53.2062
Earnings-Based
Graham-Dodd¥5.95¥40.48¥56.7463
Lynch FV¥11.89¥16.98¥22.0761
PEG = 1.0¥11.89¥16.98¥22.0757
EPV¥12.77¥14.79¥16.5474
Dividend Discount
Gordon GGM¥6.69¥13.48¥20.6366
DDM Multi-Stage¥6.69¥11.58¥14.2167
Multiples
P/E Multiple¥11.16¥14.88¥18.6063
P/S Multiple¥11.16¥14.88¥18.6058
P/B Multiple¥5.16¥6.88¥8.6155
EV/EBIT¥14.34¥19.68¥25.0166
EV/EBITDA¥14.11¥19.37¥24.6367
EV/Revenue¥12.21¥18.15¥24.1053
Asset-Based
NCAV (Graham)¥1.15¥1.54¥2.2954
Growth DCF
Growth DCF¥24.16¥46.66¥87.7874
Rev-Margin DCF¥17.73¥32.89¥55.2370
Economic Profit
Residual Income¥5.13¥6.10¥9.5275
ROIC Compounder¥14.93¥20.06¥26.6072
Growth Earnings
Growth-Adj P/E¥15.05¥21.50¥27.9667
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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.5%
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.
+3.4%
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.
+8.8%
Start year 2020 (pandemic). Over 10 years: +23.5% 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.
+22.6%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+1.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.2%
Dividend (yield on the price)0.2%
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.3.7% vs 13.4%, slowing
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.7% → 11%
2025 sits 68% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +0.1% a year for the price and +6.9% for the forecasts.
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 Chemicals · 727 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−6.5% · Above median
Profitability
Return on equity (12 months)18.2% · Top 25%
Return on assets5.8% · Above median
Net margin (12 months)5.0% · Below median
Operating margin (12 months)4.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)−2.2% · Bottom 25%
Dividend yield (12 months)0.2% · Bottom 25%
Balance sheet
Debt / equity0.46× · Highest 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/E (12 months)32.8× · Pricier than median
P/B7.12× · Priciest 25%
P/S (12 months)1.62× · Pricier than median
Price / free cash flow (fiscal year)15.0× · Cheaper than median
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Cite: Fair Value Calculator (2026). "Skshu Paint Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603737
Frequently asked questions
Is Skshu Paint Co Ltd (603737) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of ¥22.11 versus a price of ¥23.65, about 6% lower (fairly valued).
What is the fair value of 603737?
Our model-based fair value for Skshu Paint Co Ltd is ¥22.11 (as of Nov 8, 2026), built from audited fundamentals. The current price: ¥23.65.
What is the quality score of 603737?
Skshu Paint Co Ltd has a Quality Score of 55/100. 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 Skshu Paint Co Ltd (603737)?
Our model-based price target is the fair value of ¥22.11 (as of Nov 8, 2026) from 26 valuation models. Cautious scenario ¥15.48, optimistic scenario ¥28.76. It is a calculation from audited fundamentals, not an analyst target.
What is the Skshu Paint Co Ltd stock forecast for 2026?
Our models put fair value at ¥22.11, about 6% lower versus a price of ¥23.65 (fairly valued). Cautious scenario ¥15.48, optimistic scenario ¥28.76. The calculation is refreshed regularly with new filings.
What is the revenue of Skshu Paint Co Ltd (603737)?
Skshu Paint Co Ltd reported trailing-twelve-month revenue of about 12.8B CNY (latest available figure, as of Nov 8, 2026).
Does Skshu Paint Co Ltd pay a dividend?
Skshu Paint Co Ltd currently shows a dividend yield of 0.24% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Skshu Paint Co Ltd (603737) and when is the ex-dividend date?
Skshu Paint Co Ltd pays a dividend of ¥0.057 per share a year, a dividend yield of 0.2%. The last ex-dividend date was Jun 1, 2026. The payout ratio is 7.9% of earnings. Free cash flow covers the dividend 27.16 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Skshu Paint Co Ltd (603737)?
For today's price to be fair in a discounted-cash-flow model, Skshu Paint Co Ltd would have to grow free cash flow by +1.8 % per year for five years (discount rate 9.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.8 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 603737 use?
Our models discount Skshu Paint Co Ltd at 9.4 %: a base by market capitalisation (mid), damped by beta 0.60, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Skshu Paint Co Ltd that is +1.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.4 %) and the same formula as our fair value.
How much growth has Skshu Paint Co Ltd (603737) delivered so far?
Over the past 5 years revenue at Skshu Paint Co Ltd grew +8.8 % a year. The price currently implies free-cash-flow growth of +1.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Skshu Paint Co Ltd (603737) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Skshu Paint Co Ltd (+1.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Skshu Paint Co Ltd (603737)?
The free-cash-flow yield on the price is 7.85 %: that much free cash flow Skshu Paint Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Skshu Paint Co Ltd (603737)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Skshu Paint Co Ltd it is ¥22.11 per share (as of Nov 8, 2026), against a price of ¥23.65. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Skshu Paint Co Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 603737 trades above its calculated fair value: price ¥23.65, fair value ¥22.11, a gap of about −6% (fairly valued). 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 603737?
No. The price is what the market pays today (¥23.65); the fair value is what the company's own numbers justify (¥22.11). For Skshu Paint Co Ltd the two are ¥1.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Skshu Paint Co Ltd worth?
The market values Skshu Paint Co Ltd at about 20.6B CNY (market capitalisation, as of Nov 8, 2026). Per share that is ¥23.65; our models calculate a fair value of ¥22.11 per share.
What do the bullish and bearish scenarios say about 603737?
Our models span a range for Skshu Paint Co Ltd: cautious scenario ¥15.48, base ¥22.11, optimistic ¥28.76 per share (as of Nov 8, 2026, price ¥23.65). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603737?
Skshu Paint Co Ltd trades at a price-to-earnings ratio of 32.8 (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 ¥22.11 is built from several models across several years. Other multiples: P/B 7.1, P/S 1.6, EV/EBITDA 17.8.
How solid is the balance sheet of Skshu Paint Co Ltd (603737)?
Balance-sheet figures for Skshu Paint Co Ltd (as of Nov 8, 2026): return on equity 18.2%, debt of 0.46 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 603737 from its 52-week high?
Skshu Paint Co Ltd trades at ¥23.65, about 59% below its 52-week high of ¥57.88 and 20% above the low of ¥19.75 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥22.11 is for.
Which stocks are comparable to Skshu Paint Co Ltd?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics 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 Skshu Paint Co Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price ¥23.65, calculated fair value ¥22.11 (−6%), Quality Score 55/100, from 26 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 603737 calculated?
We run Skshu Paint Co Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥22.11 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 13.0% above its aggregate fair value. Skshu Paint 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 Skshu Paint Co Ltd (603737)?
The closing price on Nov 6, 2026 was ¥23.65. Our model-based fair value is ¥22.11, about 6% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Skshu Paint Co Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (¥15.48 to ¥28.76) leaves room in how you read the outcome.
Where does the earnings growth of Skshu Paint Co Ltd (603737) come from?
Earnings per share at Skshu Paint Co Ltd grew +7.2 % a year from 2013 to 2024. Broken into its drivers: revenue per share +23.7 %, EBIT margin −14.1 %, tax rate +3.0 %, residual (interest, one-offs) −2.1 %. 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 Skshu Paint Co Ltd
How large is the market capitalisation of Skshu Paint Co Ltd (603737)?
The market capitalisation of Skshu Paint Co Ltd is 20.6B CNY (≈ $3.1B). 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 Skshu Paint Co Ltd (603737)?
The price-to-sales ratio of Skshu Paint Co Ltd is 1.62 (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 Skshu Paint Co Ltd (603737)?
Earnings per share at Skshu Paint Co Ltd are ¥0.7200 (price ÷ EPS = P/E 32.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Skshu Paint Co Ltd (603737)?
The dividend yield of Skshu Paint Co Ltd is 0.2% (payout 7.9%). 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 Skshu Paint Co Ltd (603737)?
The net margin of Skshu Paint Co Ltd is 5.0% (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 Skshu Paint Co Ltd (603737)?
The return on equity (ROE) of Skshu Paint Co Ltd is 18.2% (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 Skshu Paint Co Ltd (603737)?
On an EBIT basis the return on assets of Skshu Paint Co Ltd is 2.3% (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 Skshu Paint Co Ltd (603737)?
The operating margin of Skshu Paint Co Ltd is 4.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Skshu Paint Co Ltd (603737)?
Revenue at Skshu Paint Co Ltd is growing −2.2% versus a year earlier (3y avg +3.4%). 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 Skshu Paint Co Ltd (603737)?
Earnings per share at Skshu Paint Co Ltd are growing −39.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Skshu Paint Co Ltd (603737) carry?
The net debt of Skshu Paint Co Ltd is 1.5B CNY (fiscal year 2025, ≈ 1.1 yrs of FCF). 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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Some data
Nov 8, 2026