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Haitian Water Group Co.Ltd (603759) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Haitian Water Group Co.Ltd ¥11.07, price ¥7.93, upside +39.6%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Utilities · CN · ISIN CNE1000077X0

HW Some data Sep 24, 2026

Haitian Water Group Co.Ltd

603759 · SHG

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value ¥11.07 · Undervalued (+40%)
!Quality 38/100
!Expensive Growth (revenue 5y +30.5 %/yr)
!Thin margins · 3.0% net margin (TTM)
!Moderate debt · negative free cash flow
·1.45% dividend yield
!Trails peers (5/13)
!Narrow moat 31/100
!Evidence only medium, so the estimate is less certain
!The models disagree: range ¥10.76 to ¥27.99
!Weak on past: 20 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥18.73 ¥5.35 Fair Value ¥11.07 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ¥5.35 – ¥18.73 · fair‑value band ¥10.76 – ¥27.99 · the ¥7.93 price screens below the ¥11.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Haitian Water Group Co.,Ltd. provides water and environmental protection services in China.

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Haitian Water Group Co.,Ltd. provides water and environmental protection services in China. It engages in the installation of water supply facilities and supply of tap water to users in government-franchised water supply area; sewage treatment; waste incineration power generation; supply of direct drinking water services; and engineering construction, including renovation and expansion projects, as well as general contracting and professional subcontracting services. Haitian Water Group Co.,Ltd. was founded in 1999 and is based in Chengdu, China.

Stock analysis

Haitian Water Group Co.Ltd (603759) currently trades at ¥7.93, while our model-based Fair Value estimate is ¥11.07, implying the stock looks roughly 28.4% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of ¥17.35 per share, and 6 of the 17 models we run sit above the ¥7.93 price.

Bear case: the Economic Profit group reads lowest at ¥1.62, and 11 of the 17 models stay below the price. Evidence for this calculation is medium.

Scenario range: ¥10.76 (bear) to ¥27.99 (bull), the price of ¥7.93 sits below 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 38/100 (below-average quality), in the Utilities sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Haitian Water Group Co.Ltd reported revenue of 3.2B CNY in FY2025 versus 1.1B CNY in FY2021, a compound +31.3%/yr. Reported net income was 177M CNY in FY2025, compounding −4.6%/yr from FY2021.

Key figures

Market cap 3.7B CNY (≈ $547M) · P/E ratio 28.3 · P/S ratio 1.56 · EPS (TTM) ¥0.2800 · Dividend yield 1.5% · Net margin 5.5% · Return on equity 4.9% · Return on assets (EBIT) 4.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).

What moves the price

The share trades about 49% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −42% fair-value upside, at 40%, 603759 screens cheaper than that median.

Fair Value models

Bear ¥10.76 Fair Value ¥11.07 Bull ¥27.99
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.1207 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income ¥4.76 ¥4.87 ¥4.68 76
EPV ¥0.9600 ¥1.62 ¥2.17 72
ROIC Compounder ¥0.9600 ¥1.62 ¥2.17 71
All 17 models by family
DCF Models
Owner Earnings ¥6.35 ¥17.35 ¥37.74 70
Earnings-Based
Graham-Dodd ¥2.60 ¥18.16 ¥25.48 63
Lynch FV ¥7.52 ¥10.74 ¥13.96 61
PEG = 1.0 ¥7.52 ¥10.74 ¥13.96 57
EPV ¥0.9600 ¥1.62 ¥2.17 72
Dividend Discount
Gordon GGM ¥2.28 ¥4.11 ¥5.66 68
DDM Multi-Stage ¥2.28 ¥3.75 ¥4.39 67
Multiples
P/E Multiple ¥5.17 ¥6.89 ¥8.61 63
P/S Multiple ¥4.88 ¥6.51 ¥8.14 58
P/B Multiple ¥4.88 ¥6.51 ¥8.14 55
EV/EBIT ¥4.10 ¥6.76 ¥9.43 64
EV/EBITDA ¥6.33 ¥9.74 ¥13.15 66
EV/Revenue ¥2.57 ¥5.34 ¥8.11 51
Asset-Based
NCAV (Graham) ¥3.16 ¥4.24 ¥6.32 54
Economic Profit
Residual Income ¥4.76 ¥4.87 ¥4.68 76
ROIC Compounder ¥0.9600 ¥1.62 ¥2.17 71
Growth Earnings
Growth-Adj P/E ¥8.88 ¥12.68 ¥16.48 67

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Quality Score breakdown

Overall quality 38/100

Of which business quality 36 · Market factors (momentum, volatility) 42

Profitability 26
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+111.9%
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.
+39.4%
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.
+30.5%
Start year 2020 (pandemic)
Revenue growth 9 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.
+24.5%
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.
−3.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.9%
Dividend (yield on the price)1.5%
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.−5% vs 10%, 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.26% → 10%
Start year 2020 (pandemic)

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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.Utilities - Regulated Water · 65 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside +40% · Top 25%
Profitability
Return on equity (TTM) 5% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Bottom 25%
Operating margin (TTM) 4% · Bottom 25%
Growth and dividend
Revenue growth 367% · Top 25%
Dividend yield (TTM) 1.5% · Below median
Balance sheet
Debt / equity 0.88× · Above median

Valuation Multiplesvs Utilities - Regulated Water median · lower = cheaper

P/E (TTM) 28.3× · Priciest 25%
P/B 1.25× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM) 0.83× · Cheapest 25%
EV/EBITDA 8.6× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)86 · sector 4
FUTURE (revenue growth)100 · sector 29
PAST (return on equity)20 · sector 31
HEALTH (low debt)56 · sector 66
DIVIDEND (yield)29 · sector 48

Context: sector, industry, market

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

Similar stocks

10 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
American Water Works Company AWK $133.82 $65.80 −51%
SBS SBS $5.39 $7.68 +42%
Essential Utilities, Inc WTRG $40.38 $23.28 −42%
Guangdong Investment Limited 0270 HK$8.67 HK$12.82 +48%
Grandblue Environment Co 600323 ¥28.90 ¥57.09 +98%
American States Water Company AWR $84.39 $38.40 −54%
Chengdu Xingrong Environment Co 000598 ¥7.06 ¥9.09 +29%
California Water Service Group CWT $47.29 $25.75 −46%
Chongqing Water Group 601158 ¥3.99 ¥1.76 −56%
H2O America, through its subsidiaries, HTO $62.92 $29.35 −53%

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Cite: Fair Value Calculator (2026). "Haitian Water Group Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603759

Frequently asked questions

Is Haitian Water Group Co.Ltd (603759) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥11.07 versus a price of ¥7.93, about +40% upside (undervalued).
What is the fair value of 603759?
Our model-based fair value for Haitian Water Group Co.Ltd is ¥11.07 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥7.93.
What is the quality score of 603759?
Haitian Water Group Co.Ltd has a Quality Score of 38/100. 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 Haitian Water Group Co.Ltd (603759)?
Our model-based price target is the fair value of ¥11.07 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ¥10.76, optimistic scenario ¥27.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Haitian Water Group Co.Ltd stock forecast for 2026?
Our models put fair value at ¥11.07, about +40% upside versus a price of ¥7.93 (undervalued). Cautious scenario ¥10.76, optimistic scenario ¥27.99. The calculation is refreshed regularly with new filings.
What is the revenue of Haitian Water Group Co.Ltd (603759)?
Haitian Water Group Co.Ltd reported trailing-twelve-month revenue of about 4.4B CNY (latest available figure, as of Sep 24, 2026).
Does Haitian Water Group Co.Ltd pay a dividend?
Haitian Water Group Co.Ltd currently shows a dividend yield of about 1.45% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Haitian Water Group Co.Ltd (603759)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Haitian Water Group Co.Ltd it is ¥11.07 per share (as of Sep 24, 2026), against a price of ¥7.93. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Haitian Water Group Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 603759 trades below its calculated fair value: price ¥7.93, fair value ¥11.07, a gap of about +40% (undervalued). 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 603759?
No. The price is what the market pays today (¥7.93); the fair value is what the company's own numbers justify (¥11.07). For Haitian Water Group Co.Ltd the two are ¥3.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Haitian Water Group Co.Ltd worth?
The market values Haitian Water Group Co.Ltd at about 3.7B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥7.93; our models calculate a fair value of ¥11.07 per share.
What do the bullish and bearish scenarios say about 603759?
Our models span a range for Haitian Water Group Co.Ltd: cautious scenario ¥10.76, base ¥11.07, optimistic ¥27.99 per share (as of Sep 24, 2026, price ¥7.93). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603759?
Haitian Water Group Co.Ltd trades at a price-to-earnings ratio of 28.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥11.07 is built from several models across several years. Other multiples: P/B 1.3, P/S 0.8, EV/EBITDA 8.6.
How solid is the balance sheet of Haitian Water Group Co.Ltd (603759)?
Balance-sheet figures for Haitian Water Group Co.Ltd (as of Sep 24, 2026): return on equity 4.9%, debt of 0.88 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 603759 from its 52-week high?
Haitian Water Group Co.Ltd trades at ¥7.93, about 49% below its 52-week high of ¥15.70 and 18% above the low of ¥6.70 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥11.07 is for.
Which stocks are comparable to Haitian Water Group Co.Ltd?
From the same area (Utilities) we also value American Water Works Company, SBS, Essential Utilities, Inc, Guangdong Investment Limited, 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 Haitian Water Group Co.Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥7.93, calculated fair value ¥11.07 (+40%), Quality Score 38/100, from 17 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 603759 calculated?
We run Haitian Water Group Co.Ltd through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥11.07, 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 14.1 % above its aggregate fair value. Haitian Water Group Co.Ltd currently trades 40 % below its own fair value, and the market average says nothing about that. 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 Haitian Water Group Co.Ltd (603759)?
The closing price on Sep 23, 2026 was ¥7.93. Our model-based fair value is ¥11.07, about +40% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Haitian Water Group Co.Ltd right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (¥10.76). The market is more pessimistic than our downside scenario. The model range is unusually wide (¥10.76 to ¥27.99). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Key figures of Haitian Water Group Co.Ltd

How large is the market capitalisation of Haitian Water Group Co.Ltd (603759)?
The market capitalisation of Haitian Water Group Co.Ltd is 3.7B CNY (≈ $547M). 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 Haitian Water Group Co.Ltd (603759)?
The price-to-sales ratio of Haitian Water Group Co.Ltd is 1.56 (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 Haitian Water Group Co.Ltd (603759)?
Earnings per share at Haitian Water Group Co.Ltd are ¥0.2800 (price ÷ EPS = P/E 28.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Haitian Water Group Co.Ltd (603759)?
The dividend yield of Haitian Water Group Co.Ltd is 1.5% (payout 41.1%). 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 Haitian Water Group Co.Ltd (603759)?
The net margin of Haitian Water Group Co.Ltd is 5.5% (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 Haitian Water Group Co.Ltd (603759)?
The return on equity (ROE) of Haitian Water Group Co.Ltd is 4.9% (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 Haitian Water Group Co.Ltd (603759)?
On an EBIT basis the return on assets of Haitian Water Group Co.Ltd is 4.7% (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 Haitian Water Group Co.Ltd (603759)?
The operating margin of Haitian Water Group Co.Ltd is 4.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Haitian Water Group Co.Ltd (603759)?
Revenue at Haitian Water Group Co.Ltd is growing +367% versus a year earlier (3y avg +39.4%). 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 Haitian Water Group Co.Ltd (603759)?
Earnings per share at Haitian Water Group Co.Ltd are growing −90.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Haitian Water Group Co.Ltd (603759) generate?
The free cash flow of Haitian Water Group Co.Ltd is −286M 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 Haitian Water Group Co.Ltd (603759) carry?
The net debt of Haitian Water Group Co.Ltd is 2.8B 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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