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KEBODA TECHNOLOGY Co (603786) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 19.7B CNY

KT KEBODA TECHNOLOGY Co 603786 · SHG
Price¥42.47
Fair Value¥34.91
Upside-17.8%
Quality56/100
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Mixed Growth
Solidly profitable · 11.3% net margin
Low debt · generates free cash flow
1.34% dividend yield
Mixed vs. peers (6/14)
Moderate moat 53/100
Evidence: High Range ¥20.05 – ¥45.65 Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from ¥38.10 to ¥34.91 (−8.4%) since Jun 24, 2026. Share price +1.2% over the past month.

A solid business, but screening 18% overvalued on our models.

What matters now

  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥20.05 to ¥45.65) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥108.26 ¥35.28 Fair Value ¥34.91 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range ¥35.28 – ¥108.26 · fair‑value band ¥20.05 – ¥45.65 · the ¥42.47 price screens above the ¥34.91 fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

KEBODA TECHNOLOGY Co (603786) currently trades at ¥42.47, while our model-based Fair Value estimate is ¥34.91, implying the stock looks roughly 17.8% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical 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, KEBODA TECHNOLOGY Co generated revenue of 7.0B CNY at a net margin of 11.3%. Revenue grew 3.3% year over year. It earns a return on equity of 14.1%. The balance sheet holds a net cash position of 502M CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥20.05 (bear case) to ¥45.65 (bull case); at ¥42.47, the current price sits within 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 61% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at -18%, 603786 screens cheaper 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
Growth DCF ¥9.30 ¥15.14 ¥26.95 80
Residual Income ¥13.85 ¥17.78 ¥44.06 76
Rev-Margin DCF ¥16.29 ¥32.13 ¥62.10 74
All 26 models by family
DCF Models
FCF DCF ¥9.73 ¥13.87 ¥27.06 38
Owner Earnings ¥27.76 ¥59.95 ¥127.55 31
5Y Revenue Exit ¥16.16 ¥28.44 ¥54.34 39
5Y EBITDA Exit ¥21.66 ¥39.57 ¥74.81 41
5Y P/E Exit ¥30.08 ¥70.98 ¥127.90 38
10Y Revenue Exit ¥13.90 ¥32.86 ¥46.59 36
10Y EBITDA Exit ¥18.58 ¥44.71 ¥92.35 37
10Y P/E Exit ¥24.72 ¥62.84 ¥128.24 35
Earnings-Based
Graham-Dodd ¥13.96 ¥97.39 ¥136.67 54
Lynch FV ¥36.93 ¥52.76 ¥68.59 50
PEG = 1.0 ¥36.93 ¥52.76 ¥68.59 46
EPV ¥19.77 ¥22.65 ¥25.17 59
Dividend Discount
Gordon GGM ¥8.37 ¥17.41 ¥27.61 70
DDM Multi-Stage ¥8.37 ¥14.68 ¥18.27 61
Multiples
P/E Multiple ¥33.89 ¥45.18 ¥56.48 63
P/S Multiple ¥15.45 ¥20.60 ¥25.76 58
P/B Multiple ¥26.18 ¥34.91 ¥43.64 55
EV/EBIT ¥30.15 ¥39.37 ¥48.58 53
EV/EBITDA ¥25.25 ¥32.83 ¥40.41 54
EV/Revenue ¥16.94 ¥23.12 ¥29.30 43
Asset-Based
NCAV (Graham) ¥6.97 ¥9.34 ¥13.94 50
Growth DCF
Growth DCF ¥9.30 ¥15.14 ¥26.95 80
Rev-Margin DCF ¥16.29 ¥32.13 ¥62.10 74
Economic Profit
Residual Income ¥13.85 ¥17.78 ¥44.06 76
ROIC Compounder ¥24.73 ¥35.47 ¥43.12 72
Growth Earnings
Growth-Adj P/E ¥47.96 ¥68.51 ¥89.06 68

Widest divergence: Growth Earnings (¥68.51) versus Asset-Based (¥9.34). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 7.0B CNY
Revenue growth (YoY) +3.3%
Net margin 11.3%
Return on equity 14.1%
Free cash flow 173M CNY FY2025
P/E ratio 25.1
More key figures
Operating margin 11.8%
EPS (TTM) ¥1.94
Dividend yield 1.3%
EPS growth (YoY) -22.1%
Net cash 502M CNY FY2024

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 56 · Market factors (momentum, volatility) 21

Profitability 54
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 18
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 47
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 82
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

KEBODA TECHNOLOGY Co., Ltd. manufacture and sale of automotive electronics and related products for automotive industry in China.

Full company description

KEBODA TECHNOLOGY Co., Ltd. manufacture and sale of automotive electronics and related products for automotive industry in China. The company offers automotive electronics products comprising lighting control systems, such as LED headlamp controllers, LED tail light controllers, RGB nodes, Intelligent interior light, reading lights, etc.; and domain and motor control system products, including dynamic chassis controller, air suspension controller, electromagnetic suspension controller, chassis domain control, air blower controller, etc. It also provides energy management system products, which includes eFuse, PDLC controller, 12V DCDC converter, overvoltage protection switch, USB/HUB/PD/DP, etc.; and intelligent actuator products consisting of grille actuators, electronic water valve actuators, electric vehicle charging door actuators, and other products. In addition, the company offers automotive electrical products, including cigarette lighters, power outlets, washing systems, automotive sensors, AVS actuators, liquid control valves, and other products; engine components, such as electric pumps, preheaters, clamps and others; and harness products, including auto wiring harness, engine pre-assembled wiring harness, and special wiring harness, as well as high-voltage inverter and fuel pump wiring harness. The company was formerly known as Shanghai Oubao Electric Technology Corp. and changed its name to KEBODA TECHNOLOGY Co., Ltd. in November 2007. KEBODA TECHNOLOGY Co., Ltd. was founded in 2003 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KEBODA TECHNOLOGY Co reported revenue of ¥6.9B in FY2025 versus ¥2.8B in FY2021, a compound +25.4%/yr. Reported net income was ¥829M in FY2025, compounding +20.8%/yr from FY2021.

Growth Quality 72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
6.9B CNY
Latest YoY
+16.2%
Avg. growth/yr (3Y)
+27.0%
Avg. growth/yr (5Y)
+18.9%
Avg. growth/yr (19Y)
+34.0%
Revenue +25.4%/yr
FY21 ¥2.8B
FY22 ¥3.4B
FY23 ¥4.6B
FY24 ¥6.0B
FY25 ¥6.9B
Net income +20.8%/yr
FY21 ¥389M
FY22 ¥450M
FY23 ¥609M
FY24 ¥772M
FY25 ¥829M

603786 screens 18% overvalued. Compare with Hyundai Mobis Co →

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Cite: Fair Value Calculator (2026). "KEBODA TECHNOLOGY Co Fair Value". https://www.fairvalue-calculator.com/stock/603786

Peer Group

Auto Parts · 642 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 56 · Above median
Fair Value upside −18% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth 3% · Below median
Dividend yield (TTM) 1.3% · Below median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 25.1× · Pricier than median
P/B 3.49× · Pricier than 75% of peers
P/S (TTM) 2.82× · Pricier than 75% of peers
P/FCF 16.9× · Pricier than 75% of peers
EV/EBITDA 20.7× · 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 10 · sector 17
FUTURE 17 · sector 23
PAST 56 · sector 26
HEALTH 99 · sector 95
DIVIDEND 27 · sector 30

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 Auto Parts stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 482,000 KRW 678,420 KRW +41%
Magna International Inc MGAN 1,122 MXN 1,172 MXN +4%
Samvardhana Motherson International Limited MOTHERSON ₹144.17 ₹80.63 -44%
Bosch Limited BOSCHLTD ₹41,110 ₹14,004 -66%
Bharat Forge Limited BHARATFORG ₹2,117 ₹441.74 -79%
Uno Minda Limited UNOMINDA ₹1,158 ₹426.57 -63%
Schaeffler India Limited SCHAEFFLER ₹4,135 ₹1,412 -66%
Hankook Tire & Technology Co 161390 73,600 KRW 196,479 KRW +167%
MRF Limited MRF ₹131,025 ₹125,849 -4%
Sona BLW Precision Forgings Limited SONACOMS ₹792.00 ₹207.06 -74%

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Frequently asked questions

Is KEBODA TECHNOLOGY Co (603786) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ¥34.91 versus a price of ¥42.47, about −18% (overvalued).
What is the fair value of 603786?
Our model-based fair value for KEBODA TECHNOLOGY Co is ¥34.91 (as of Jul 11, 2026), built from audited fundamentals. The current price is ¥42.47.
What is the quality score of 603786?
KEBODA TECHNOLOGY Co has a Quality Score of 56/100. 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 KEBODA TECHNOLOGY Co (603786)?
KEBODA TECHNOLOGY Co reported trailing-twelve-month revenue of about 7.0B CNY (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 603786?
The net profit margin of KEBODA TECHNOLOGY Co is about 11.3%, meaning it keeps roughly 11.3% of revenue as net income. Based on the latest reported figures.
Does KEBODA TECHNOLOGY Co pay a dividend?
KEBODA TECHNOLOGY Co currently shows a dividend yield of about 1.34% relative to its recent price (as of Jul 11, 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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