Suzhou Douson Drilling & Production Equipment Co Ltd (603800) fair value: what the stock is really worth
As of Oct 23, 2026: fair value (intrinsic value) of Suzhou Douson Drilling & Production Equipment Co Ltd stock ¥20.08, price ¥40.00, upside -49.8%, quality 51 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?No
Good quality?Yes
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 26, 2026.
How to read this chart
60‑month range ¥8.61 – ¥88.46 · fair‑value band ¥12.87 – ¥27.35 · the ¥40.00 price screens above the ¥20.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 26, 2026.
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Jiangsu Hongtian Technology Co.,Ltd. engages in the oil and gas electrical, and electrolytic copper foil equipment business in China. The company also engages in steel trading, oil and gas product processing, and oil and gas forging production.
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The company was formerly known as Suzhou Douson Drilling & Production Equipment Co.,Ltd. and changed its name to Jiangsu Hongtian Technology Co.,Ltd. in June 2024. Jiangsu Hongtian Technology Co.,Ltd. was founded in 2001 and is headquartered in Suzhou, China.
Stock analysis
Suzhou Douson Drilling & Production Equipment Co Ltd (603800) currently trades at ¥40.00, while our model-based Fair Value estimate is ¥20.08, 49.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥7.32 per share, and 0 of the 25 models we run sit above the ¥40.00 price.
Bear case: the Dividend Discount group reads lowest at ¥2.35, and 25 of the 25 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥12.87 (bear) to ¥27.35 (bull), the price of ¥40.00 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 51/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Suzhou Douson Drilling & Production Equipment Co Ltd reported revenue of 1.1B CNY in FY2025 versus 1.2B CNY in FY2021, a compound −2.1%/yr. Reported net income was 14.5M CNY in FY2025.
Key figures
Market cap 8.3B CNY (≈ $1.2B) Small · P/S ratio 10.3 · EPS (TTM) ¥0.0200 · Dividend yield 0.4% · Net margin 0.3% · Return on equity 0.0% · Return on assets (EBIT) 4.5% · Operating margin −16.5%.
What moves the price
The share trades about 55% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −38% fair-value upside, at −50%, 603800 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.3100 to ¥8.51). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear¥12.87Fair Value ¥20.08Bull¥27.35
Price ¥40.00 · Upside -49.8%
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 (¥0.0164 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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−21.5%
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.
−21.0%
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.
+4.9%
Start year 2020 (pandemic). Over 10 years: +6.2% 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.
+4.3%
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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.
−23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.3%
Dividend (yield on the price)0.4%
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.−24.3% vs −16.7%, 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.1% → 9%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+37.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +34.8% a year for the price.
Compare Suzhou Douson Drilling & Production Equipment Co Ltd with another stock
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.Oil & Gas Equipment & Services · 178 stocks
Beats the industry median on 1/11 measures
Overall it trails its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−49.8% · Bottom 25%
Profitability
Return on assets0.6% · Below median
Net margin (12 months)0.3% · Below median
Operating margin (12 months)−16.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)5.4% · Above median
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.28× · Above median
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
P/B10.26× · Priciest 25%
P/S (12 months)7.74× · Priciest 25%
Price / free cash flow65.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)27· sector 23
PAST (return on equity)0· sector 28
HEALTH (low debt)86· sector 90
DIVIDEND (yield)8· sector 43
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). "Suzhou Douson Drilling & Production Equipment Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603800
Frequently asked questions
Is Suzhou Douson Drilling & Production Equipment Co Ltd (603800) overvalued or undervalued?
As of Oct 26, 2026, our model estimates a fair value of ¥20.08 versus a price of ¥40.00, about −50% upside (overvalued).
What is the fair value of 603800?
Our model-based fair value for Suzhou Douson Drilling & Production Equipment Co Ltd is ¥20.08 (as of Oct 26, 2026), built from audited fundamentals. The current price: ¥40.00.
What is the quality score of 603800?
Suzhou Douson Drilling & Production Equipment Co Ltd has a Quality Score of 51/100. 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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
Our model-based price target is the fair value of ¥20.08 (as of Oct 26, 2026) from 25 valuation models. Cautious scenario ¥12.87, optimistic scenario ¥27.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Suzhou Douson Drilling & Production Equipment Co Ltd stock forecast for 2026?
Our models put fair value at ¥20.08, about −50% upside versus a price of ¥40.00 (overvalued). Cautious scenario ¥12.87, optimistic scenario ¥27.35. The calculation is refreshed regularly with new filings.
What is the revenue of Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
Suzhou Douson Drilling & Production Equipment Co Ltd reported trailing-twelve-month revenue of about 1.1B CNY (latest available figure, as of Oct 26, 2026).
Does Suzhou Douson Drilling & Production Equipment Co Ltd pay a dividend?
Suzhou Douson Drilling & Production Equipment Co Ltd currently shows a dividend yield of 0.41% relative to its recent price (as of Oct 26, 2026).
What growth is priced into Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
For today's price to be fair in a discounted-cash-flow model, Suzhou Douson Drilling & Production Equipment Co Ltd would have to grow free cash flow by +37.1 % per year for five years (discount rate 11.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.9 % per year. As of Oct 26, 2026.
What discount rate (WACC) does the fair value of 603800 use?
Our models discount Suzhou Douson Drilling & Production Equipment Co Ltd at 11.3 %: a base by market capitalisation (small), damped by beta 0.78, 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 Suzhou Douson Drilling & Production Equipment Co Ltd that is +37.1 % per year a year over ten years, using the same discount rate (11.3 %) and the same formula as our fair value.
How much growth has Suzhou Douson Drilling & Production Equipment Co Ltd (603800) delivered so far?
Over the past 5 years revenue at Suzhou Douson Drilling & Production Equipment Co Ltd grew +4.9 % a year. The price currently implies +37.1 % per year free-cash-flow growth a 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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800) growing?
The median revenue growth in the sector is +13.0 % a year. That is the yardstick for the growth priced into Suzhou Douson Drilling & Production Equipment Co Ltd (+37.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The free-cash-flow yield on the price is 1.52 %: that much free cash flow Suzhou Douson Drilling & Production Equipment Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Suzhou Douson Drilling & Production Equipment Co Ltd it is ¥20.08 per share (as of Oct 26, 2026), against a price of ¥40.00. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Suzhou Douson Drilling & Production Equipment Co Ltd stock overvalued or undervalued in 2026?
As of Oct 26, 2026, 603800 trades above its calculated fair value: price ¥40.00, fair value ¥20.08, a gap of about −50% (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 603800?
No. The price is what the market pays today (¥40.00); the fair value is what the company's own numbers justify (¥20.08). For Suzhou Douson Drilling & Production Equipment Co Ltd the two are ¥19.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Suzhou Douson Drilling & Production Equipment Co Ltd worth?
The market values Suzhou Douson Drilling & Production Equipment Co Ltd at about 8.3B CNY (market capitalisation, as of Oct 26, 2026). Per share that is ¥40.00; our models calculate a fair value of ¥20.08 per share.
What do the bullish and bearish scenarios say about 603800?
Our models span a range for Suzhou Douson Drilling & Production Equipment Co Ltd: cautious scenario ¥12.87, base ¥20.08, optimistic ¥27.35 per share (as of Oct 26, 2026, price ¥40.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
Balance-sheet figures for Suzhou Douson Drilling & Production Equipment Co Ltd (as of Oct 26, 2026): return on equity 0.0%, debt of 0.28 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 603800 from its 52-week high?
Suzhou Douson Drilling & Production Equipment Co Ltd trades at ¥40.00, about 55% below its 52-week high of ¥88.46 and 16% above the low of ¥34.60 (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥20.08 is for.
Which stocks are comparable to Suzhou Douson Drilling & Production Equipment Co Ltd?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, Halliburton Company, TechnipFMC plc, 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 Suzhou Douson Drilling & Production Equipment Co Ltd stock attractive at the current price?
The data as of Oct 26, 2026: price ¥40.00, calculated fair value ¥20.08 (−50%), Quality Score 51/100, from 25 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 603800 calculated?
We run Suzhou Douson Drilling & Production Equipment Co Ltd through 25 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 ¥20.08, 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 12.5 % above its aggregate fair value. Suzhou Douson Drilling & Production Equipment 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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The closing price on Oct 23, 2026 was ¥40.00. Our model-based fair value is ¥20.08, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Suzhou Douson Drilling & Production Equipment Co Ltd right now?
The price sits above even our optimistic bull case (¥27.35). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥12.87 to ¥27.35) leaves room in how you read the outcome.
Where does the earnings growth of Suzhou Douson Drilling & Production Equipment Co Ltd (603800) come from?
Earnings per share at Suzhou Douson Drilling & Production Equipment Co Ltd grew +5.8 % a year from 2013 to 2024. Broken into its drivers: revenue per share +7.4 %, EBIT margin +2.2 %, tax rate +0.2 %, residual (interest, one-offs) −3.7 %. 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 Suzhou Douson Drilling & Production Equipment Co Ltd
How large is the market capitalisation of Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The market capitalisation of Suzhou Douson Drilling & Production Equipment Co Ltd is 8.3B CNY (≈ $1.2B). 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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The price-to-sales ratio of Suzhou Douson Drilling & Production Equipment Co Ltd is 10.3 (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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
Earnings per share at Suzhou Douson Drilling & Production Equipment Co Ltd are ¥0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The dividend yield of Suzhou Douson Drilling & Production Equipment Co Ltd is 0.4%. 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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The net margin of Suzhou Douson Drilling & Production Equipment Co Ltd is 0.3% (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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The return on equity (ROE) of Suzhou Douson Drilling & Production Equipment Co Ltd is 0.0% (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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
On an EBIT basis the return on assets of Suzhou Douson Drilling & Production Equipment Co Ltd is 4.5% (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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
The operating margin of Suzhou Douson Drilling & Production Equipment Co Ltd is −16.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
Revenue at Suzhou Douson Drilling & Production Equipment Co Ltd is growing +5.4% versus a year earlier (3y avg −21.0%). 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 Suzhou Douson Drilling & Production Equipment Co Ltd (603800)?
Earnings per share at Suzhou Douson Drilling & Production Equipment Co Ltd are growing +292% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Suzhou Douson Drilling & Production Equipment Co Ltd (603800) carry?
The net debt of Suzhou Douson Drilling & Production Equipment Co Ltd is 275M CNY (fiscal year 2025, ≈ 2.2 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
Oct 26, 2026