Shenzhen Ellassay Fashion Co (603808) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Shenzhen Ellassay Fashion Co ¥9.97, price ¥8.95, upside +11.4%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 Sep 24, 2026.
How to read this chart
60‑month range ¥5.83 – ¥16.62 · fair‑value band ¥7.48 – ¥12.47 · the ¥8.95 price screens below the ¥9.97 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Shenzhen Ellassay Fashion Co.,Ltd. engages in the research and development, production, and sales of clothing products in China, Hong Kong, Macao, Taiwan, and internationally. The company provides clothing, accessories, underwear, and other, as well as skirts, jackets, coats, and pants for men and women; and women's shoes.
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Shenzhen Ellassay Fashion Co.,Ltd. engages in the research and development, production, and sales of clothing products in China, Hong Kong, Macao, Taiwan, and internationally. The company provides clothing, accessories, underwear, and other, as well as skirts, jackets, coats, and pants for men and women; and women's shoes. It offers its products under the ELLASSAY, Laurel, IRO Paris, Ed Hardy, nobis, and self-portrait brand names through its retail outlets and franchise stores. The company was founded in 1996 and is headquartered in Shenzhen, China. Shenzhen Ellassay Fashion Co.,Ltd. operates as a subsidiary of Shenzhen Ellassay Investment Management Ltd.
Stock analysis
Shenzhen Ellassay Fashion Co (603808) currently trades at ¥8.95, while our model-based Fair Value estimate is ¥9.97, implying the stock looks roughly 10.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥18.68 per share, and 17 of the 26 models we run sit above the ¥8.95 price.
Bear case: the Earnings-Based group reads lowest at ¥4.24, and 9 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥7.48 (bear) to ¥12.47 (bull), the price of ¥8.95 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 69/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Shenzhen Ellassay Fashion Co reported revenue of 2.9B CNY in FY2025 versus 2.4B CNY in FY2021, a compound +4.9%/yr. Reported net income was 165M CNY in FY2025, compounding −14.2%/yr from FY2021.
Key figures
Market cap 3.3B CNY (≈ $493M) · P/E ratio 19.9 · P/S ratio 1.15 · EPS (TTM) ¥0.4500 · Dividend yield 2.0% · Net margin 5.8% · Return on equity 8.2% · Return on assets (EBIT) 3.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at 11%, 603808 screens cheaper than that median.
Fair Value models
Bear ¥7.48Fair Value ¥9.97Bull ¥12.47
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 (¥0.1968 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.
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.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.9%
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.
+6.1%
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.
+7.8%
Start year 2020 (pandemic). Over 10 years: +13.1% 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.
+13.3%
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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.
−25.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−27.8%
Dividend (yield on the price)2.0%
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.−16% vs −3%, 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.27% → 10%
2025 sits 155% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
−13.5%
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 −15.0% a year for the price.
Compare Shenzhen Ellassay Fashion Co with another stock
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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.Apparel Manufacturing · 228 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+11% · Above median
Profitability
Return on equity (TTM)8% · Above median
Return on assets5% · Above median
Net margin (TTM)6% · Above median
Operating margin (TTM)17% · Top 25%
Growth and dividend
Revenue growth8% · Above median
Dividend yield (TTM)2.0% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Shenzhen Ellassay Fashion Co Fair Value". https://www.fairvalue-calculator.com/stock/603808
Frequently asked questions
Is Shenzhen Ellassay Fashion Co (603808) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥9.97 versus a price of ¥8.95, about +11% upside (undervalued).
What is the fair value of 603808?
Our model-based fair value for Shenzhen Ellassay Fashion Co is ¥9.97 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥8.95.
What is the quality score of 603808?
Shenzhen Ellassay Fashion Co has a Quality Score of 69/100. 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 Shenzhen Ellassay Fashion Co (603808)?
Our model-based price target is the fair value of ¥9.97 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario ¥7.48, optimistic scenario ¥12.47. It is a calculation from audited fundamentals, not an analyst target.
What is the Shenzhen Ellassay Fashion Co stock forecast for 2026?
Our models put fair value at ¥9.97, about +11% upside versus a price of ¥8.95 (undervalued). Cautious scenario ¥7.48, optimistic scenario ¥12.47. The calculation is refreshed regularly with new filings.
What is the revenue of Shenzhen Ellassay Fashion Co (603808)?
Shenzhen Ellassay Fashion Co reported trailing-twelve-month revenue of about 2.9B CNY (latest available figure, as of Sep 24, 2026).
Does Shenzhen Ellassay Fashion Co pay a dividend?
Shenzhen Ellassay Fashion Co currently shows a dividend yield of about 2.03% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Shenzhen Ellassay Fashion Co (603808)?
For today's price to be fair in a discounted-cash-flow model, Shenzhen Ellassay Fashion Co would have to grow free cash flow by -13.5 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 603808 use?
Our models discount Shenzhen Ellassay Fashion Co at 10.4 %: a base by market capitalisation (small), damped by beta 0.46, 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 Shenzhen Ellassay Fashion Co that is -13.5 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Shenzhen Ellassay Fashion Co (603808) delivered so far?
Over the past 5 years revenue at Shenzhen Ellassay Fashion Co grew +7.8 % a year. The price currently implies -13.5 % 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 Shenzhen Ellassay Fashion Co (603808) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Shenzhen Ellassay Fashion Co (-13.5 % 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 Shenzhen Ellassay Fashion Co (603808)?
The free-cash-flow yield on the price is 15.76 %: that much free cash flow Shenzhen Ellassay Fashion Co produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shenzhen Ellassay Fashion Co (603808)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shenzhen Ellassay Fashion Co it is ¥9.97 per share (as of Sep 24, 2026), against a price of ¥8.95. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Shenzhen Ellassay Fashion Co stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 603808 trades below its calculated fair value: price ¥8.95, fair value ¥9.97, a gap of about +11% (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 603808?
No. The price is what the market pays today (¥8.95); the fair value is what the company's own numbers justify (¥9.97). For Shenzhen Ellassay Fashion Co the two are ¥1.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shenzhen Ellassay Fashion Co worth?
The market values Shenzhen Ellassay Fashion Co at about 3.3B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥8.95; our models calculate a fair value of ¥9.97 per share.
What do the bullish and bearish scenarios say about 603808?
Our models span a range for Shenzhen Ellassay Fashion Co: cautious scenario ¥7.48, base ¥9.97, optimistic ¥12.47 per share (as of Sep 24, 2026, price ¥8.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603808?
Shenzhen Ellassay Fashion Co trades at a price-to-earnings ratio of 19.9 (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 ¥9.97 is built from several models across several years. Other multiples: P/B 1.3, P/S 1.1, EV/EBITDA 6.8.
How solid is the balance sheet of Shenzhen Ellassay Fashion Co (603808)?
Balance-sheet figures for Shenzhen Ellassay Fashion Co (as of Sep 24, 2026): return on equity 8.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is 603808 from its 52-week high?
Shenzhen Ellassay Fashion Co trades at ¥8.95, about 21% below its 52-week high of ¥11.36 and 28% above the low of ¥6.98 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥9.97 is for.
Which stocks are comparable to Shenzhen Ellassay Fashion Co?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, Gildan Activewear Inc, LPP SA, 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 Shenzhen Ellassay Fashion Co stock attractive at the current price?
The data as of Sep 24, 2026: price ¥8.95, calculated fair value ¥9.97 (+11%), Quality Score 69/100, 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 603808 calculated?
We run Shenzhen Ellassay Fashion Co through 26 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 ¥9.97, 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 14.0 % above its aggregate fair value. Shenzhen Ellassay Fashion Co currently trades 11 % 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 Shenzhen Ellassay Fashion Co (603808)?
The closing price on Sep 24, 2026 was ¥8.95. Our model-based fair value is ¥9.97, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shenzhen Ellassay Fashion Co right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Shenzhen Ellassay Fashion Co (603808) come from?
Earnings per share at Shenzhen Ellassay Fashion Co grew −12.8 % a year from 2013 to 2024. Broken into its drivers: revenue per share +11.3 %, EBIT margin −15.9 %, tax rate −3.1 %, residual (interest, one-offs) −3.9 %. 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 Shenzhen Ellassay Fashion Co
How large is the market capitalisation of Shenzhen Ellassay Fashion Co (603808)?
The market capitalisation of Shenzhen Ellassay Fashion Co is 3.3B CNY (≈ $493M). 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 Shenzhen Ellassay Fashion Co (603808)?
The price-to-sales ratio of Shenzhen Ellassay Fashion Co is 1.15 (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 Shenzhen Ellassay Fashion Co (603808)?
Earnings per share at Shenzhen Ellassay Fashion Co are ¥0.4500 (price ÷ EPS = P/E 19.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shenzhen Ellassay Fashion Co (603808)?
The dividend yield of Shenzhen Ellassay Fashion Co is 2.0% (payout 40.4%). 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 Shenzhen Ellassay Fashion Co (603808)?
The net margin of Shenzhen Ellassay Fashion Co is 5.8% (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 Shenzhen Ellassay Fashion Co (603808)?
The return on equity (ROE) of Shenzhen Ellassay Fashion Co is 8.2% (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 Shenzhen Ellassay Fashion Co (603808)?
On an EBIT basis the return on assets of Shenzhen Ellassay Fashion Co is 3.1% (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 Shenzhen Ellassay Fashion Co (603808)?
The operating margin of Shenzhen Ellassay Fashion Co is 16.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shenzhen Ellassay Fashion Co (603808)?
Revenue at Shenzhen Ellassay Fashion Co is growing +7.8% versus a year earlier (3y avg +6.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net cash does Shenzhen Ellassay Fashion Co (603808) hold?
Shenzhen Ellassay Fashion Co holds more cash than debt, 269M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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