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Suzhou Kelida Building& Decoration Co (603828) Fair Value & Analysis

Industrials · CN · Market cap 2.8B CNY

SK Suzhou Kelida Building& Decoration Co 603828 · SHG
Price¥4.21
Fair Value¥1.16
Upside-72.5%
Quality36/100
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Weak Growth
Loss-making · -18.9% net margin
Moderate debt · negative free cash flow
Trails peers (3/10)
Narrow moat 17/100
Evidence: Low Range ¥1.05 – ¥1.33 Share as image

Fair value as of: Jul 11, 2026

From 3 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from ¥3.84 to ¥1.16 (−69.8%) since Jun 24, 2026. Share price −2.8% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥1.33). The favourable scenario is already priced in.
  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

¥9.70 ¥1.35 Fair Value ¥1.16 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 ¥1.35 – ¥9.70 · fair‑value band ¥1.05 – ¥1.33 · the ¥4.21 price screens above the ¥1.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Suzhou Kelida Building& Decoration Co (603828) currently trades at ¥4.21, while our model-based Fair Value estimate is ¥1.16, implying the stock looks roughly 72.5% overvalued today. The Quality Score stands at 36/100 (below-average quality), in the Industrials 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: low).

Over the trailing twelve months, Suzhou Kelida Building& Decoration Co generated revenue of 1.3B CNY at a net margin of -18.9%. Revenue declined 58.3% year over year. It earns a return on equity of -36.8%. Net debt stands at 1.1B CNY. Fundamentals as of Jul 11, 2026

Our scenario range runs from ¥1.05 (bear case) to ¥1.33 (bull case); at ¥4.21, the current price sits above 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 57% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -72%, 603828 screens richer 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 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
Highest evidence
Gordon GGM ¥0.9500 ¥1.03 ¥1.16 70
DDM Multi-Stage ¥0.9500 ¥1.17 ¥1.47 61
NCAV (Graham) ¥0.4300 ¥0.5700 ¥0.8500 50
All 3 models by family
Dividend Discount
Gordon GGM ¥0.9500 ¥1.03 ¥1.16 70
DDM Multi-Stage ¥0.9500 ¥1.17 ¥1.47 61
Asset-Based
NCAV (Graham) ¥0.4300 ¥0.5700 ¥0.8500 50

Widest divergence: Dividend Discount (¥1.03) versus Asset-Based (¥0.5700). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 1.3B CNY
Revenue growth (YoY) -58.3%
Net margin -18.9%
Return on equity -36.8%
Free cash flow −264M CNY FY2025
Operating margin 5.2%
More key figures
EPS (TTM) ¥-0.4000
EPS growth (YoY) -50.0%
Net debt 1.1B CNY FY2025

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

Quality Score breakdown

Overall quality 36/100

Of which business quality 32 · Market factors (momentum, volatility) 25

Profitability 5
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 96
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

Suzhou Kelida Building& Decoration Co.,Ltd. engages in the design and construction of building curtain walls and public building decoration projects in China.

Full company description

Suzhou Kelida Building& Decoration Co.,Ltd. engages in the design and construction of building curtain walls and public building decoration projects in China. The company offers indoor and outdoor architectural decoration, environmental, public building decoration, architectural, landscape, municipal, geotechnical, prefabricated decoration; ornaments; curtain walls; prefabricated decorations; wood products; project management; and related consulting services. It also develops software; manufactures wooden doors, wooden veneers, movable furniture, etc.; manages hotel and property; leases real estate; advertising; and sells electronic products and mechanical equipment, building materials, and fire protection facilities. In addition, the company involved in the construction and technical consultation; asset management, investment consulting; garden project; smart home services; construction and municipal engineering; power facility installation; building renovation and decoration engineering; metal product manufacturing for construction; hotel management; rental services for self-owned real estate; property management; real estate development and operation; landscaping project construction; tobacco product retail; investment in agriculture, forestry, industry and education; development of new materials and information software; and highway engineering. Suzhou Kelida Building& Decoration Co.,Ltd. was founded in 2000 and is based in Suzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Suzhou Kelida Building& Decoration Co reported revenue of ¥1.5B in FY2025 versus ¥2.6B in FY2021, a compound −12.0%/yr. Reported net income was −¥234M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
1.5B CNY
Latest YoY
−37.2%
Avg. growth/yr (3Y) 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.
−9.5%
Avg. growth/yr (5Y) 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.
−10.3%
Avg. growth/yr (14Y) 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.
+3.4%
Revenue −12.0%/yr
FY21 ¥2.6B
FY22 ¥2.1B
FY23 ¥2.5B
FY24 ¥2.5B
FY25 ¥1.5B
Net income
FY21 −¥372M
FY22 −¥343M
FY23 −¥128M
FY24 ¥8.6M
FY25 −¥234M

603828 screens 72% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "Suzhou Kelida Building& Decoration Co Fair Value". https://www.fairvalue-calculator.com/stock/603828

Peer Group

Engineering & Construction · 839 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 36 · Bottom 25%
Fair Value upside −72% · Bottom 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -19% · Bottom 25%
Operating margin (TTM) 5% · Above median
Revenue growth -58% · Bottom 25%
Debt / equity 1.14× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.83× · Cheaper than median
P/S (TTM) 0.33× · Cheaper than median

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 0 · sector 16
FUTURE 0 · sector 17
PAST 0 · sector 26
HEALTH 43 · sector 94
DIVIDEND 0 · sector 33

VALUE 0: the price sits above our fair-value range.

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Suzhou Kelida Building& Decoration Co (603828) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of ¥1.16 versus a price of ¥4.21, about −72% (overvalued).
What is the fair value of 603828?
Our model-based fair value for Suzhou Kelida Building& Decoration Co is ¥1.16 (as of Jul 11, 2026), built from audited fundamentals. The current price is ¥4.21.
What is the quality score of 603828?
Suzhou Kelida Building& Decoration Co has a Quality Score of 36/100. 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 Suzhou Kelida Building& Decoration Co (603828)?
Suzhou Kelida Building& Decoration Co reported trailing-twelve-month revenue of about 1.3B CNY (latest available figure, as of Jul 11, 2026).
What is the net profit margin of 603828?
The net profit margin of Suzhou Kelida Building& Decoration Co is about -18.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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