GuangZhou BaiYun Elec Equip Co (603861) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of GuangZhou BaiYun Elec Equip Co stock ¥4.52, price ¥10.35, that is 56.3% below the price, quality 28 out of 100. Rating: strongly overvalued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ¥6.61 – ¥21.24 · fair‑value band ¥4.32 – ¥5.16 · the ¥10.35 price screens above the ¥4.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
Follow GuangZhou BaiYun Elec Equip Co in your weekly email
Every Wednesday you see whether GuangZhou BaiYun Elec Equip Co is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Guangzhou Baiyun Electric Equipment Co., Ltd. engages in the research, development, manufacturing, sale, and service of capacitors, transformers, switchgear, frequency converters, automatic control, intelligent components, and other products in China.
Show moreShow less
The company offers high voltage GIS, medium voltage C-GIS, medium voltage metal enclosed switchgear, ring main unit, DC traction switchgear, low voltage switchgear, distribution box, intelligent bus, medium voltage switch, low voltage switch, and intelligent components.
It also provides integrated energy service, smart substation, smart distribution grids, rail transit power supply system equipment, data center, intelligent water, power quality management, and tram power supply solutions.
Guangzhou Baiyun Electric Equipment Co., Ltd. was founded in 1989 and is based in Guangzhou, China.
Stock analysis
GuangZhou BaiYun Elec Equip Co (603861) currently trades at ¥10.35, while our model-based Fair Value estimate is ¥4.52, 56% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of ¥9.01 per share, and 2 of the 17 models we run sit above the ¥10.35 price.
Bear case: the Dividend Discount group reads lowest at ¥2.90, and 15 of the 17 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥4.32 (bear) to ¥5.16 (bull), the price of ¥10.35 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 28/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
GuangZhou BaiYun Elec Equip Co reported revenue of 4.9B CNY in FY2025 versus 3.5B CNY in FY2021, a compound +8.8%/yr. Reported net income was 204M CNY in FY2025, compounding +38.1%/yr from FY2021.
Key figures
Market cap 5.6B CNY (≈ $839M) Small · P/E ratio 25.9 · P/S ratio 1.14 · EPS (TTM) ¥0.4000 · Dividend yield 1.0% · Net margin 4.3% · Return on equity 5.7% · Return on assets (EBIT) 1.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).
What moves the price
The share trades about 51% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −56%, 603861 screens richer than that median.
Fair Value models
Bear¥4.32Fair Value ¥4.52Bull¥5.16
Price ¥10.35 · Downside -56.3%
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 (¥0.2564 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.
Best data coverage
Residual Income¥5.32¥5.32¥5.5376
EPV¥3.76¥4.43¥4.9974
Owner Earnings¥1.46¥3.29¥6.0772
All 17 models by family
DCF Models
Owner Earnings¥1.46¥3.29¥6.0772
Earnings-Based
Graham-Dodd¥2.57¥12.14¥16.6964
Lynch FV¥3.22¥4.60¥5.9861
PEG = 1.0¥3.22¥4.60¥5.9857
EPV¥3.76¥4.43¥4.9974
Dividend Discount
Gordon GGM¥1.70¥3.02¥4.1068
DDM Multi-Stage¥1.70¥2.78¥3.2367
Multiples
P/E Multiple¥5.95¥7.93¥9.9263
P/S Multiple¥4.82¥6.42¥8.0358
P/B Multiple¥8.77¥11.69¥14.6155
EV/EBIT¥7.06¥10.12¥13.1865
EV/EBITDA¥7.03¥10.09¥13.1467
EV/Revenue¥4.42¥7.24¥10.0552
Asset-Based
NCAV (Graham)¥3.32¥4.46¥6.6554
Economic Profit
Residual Income¥5.32¥5.32¥5.5376
ROIC Compounder¥3.76¥4.43¥4.9972
Growth Earnings
Growth-Adj P/E¥5.08¥7.26¥9.4467
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−1.1%
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.
+12.5%
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.
+10.2%
Start year 2020 (pandemic). Over 10 years: +14.6% a year
Revenue growth 17 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.
+12.1%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
≈ +23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +22.9%
Dividend (yield on the price)1.0%
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.base effect: 12.1% / −0.7%
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.4% → 8%
2025 sits 51% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.21 per share, median 0.43 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Compare GuangZhou BaiYun Elec Equip Co with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Specialty Industrial Machinery · 814 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside−56.3% · Below median
Profitability
Return on equity (12 months)5.7% · Below median
Return on assets1.9% · Below median
Net margin (12 months)4.3% · Below median
Operating margin (12 months)2.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)0.0% · Below median
Dividend yield (12 months)1.0% · Below median
Balance sheet
Debt / equity0.32× · Highest 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
P/E (12 months)25.9× · Pricier than median
P/B1.41× · Cheaper than median
P/S (12 months)1.14× · Cheaper than median
EV/EBITDA18.1× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 31
PAST (return on equity)23· sector 27
HEALTH (low debt)84· sector 96
DIVIDEND (yield)19· sector 29
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). "GuangZhou BaiYun Elec Equip Co Fair Value". https://www.fairvalue-calculator.com/stock/603861
Frequently asked questions
Is GuangZhou BaiYun Elec Equip Co (603861) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥4.52 versus a price of ¥10.35, about 56% lower (overvalued).
What is the fair value of 603861?
Our model-based fair value for GuangZhou BaiYun Elec Equip Co is ¥4.52 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥10.35.
What is the quality score of 603861?
GuangZhou BaiYun Elec Equip Co has a Quality Score of 28/100. 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 GuangZhou BaiYun Elec Equip Co (603861)?
Our model-based price target is the fair value of ¥4.52 (as of Nov 6, 2026) from 17 valuation models. Cautious scenario ¥4.32, optimistic scenario ¥5.16. It is a calculation from audited fundamentals, not an analyst target.
What is the GuangZhou BaiYun Elec Equip Co stock forecast for 2026?
Our models put fair value at ¥4.52, about 56% lower versus a price of ¥10.35 (overvalued). Cautious scenario ¥4.32, optimistic scenario ¥5.16. The calculation is refreshed regularly with new filings.
What is the revenue of GuangZhou BaiYun Elec Equip Co (603861)?
GuangZhou BaiYun Elec Equip Co reported trailing-twelve-month revenue of about 4.9B CNY (latest available figure, as of Nov 6, 2026).
Does GuangZhou BaiYun Elec Equip Co pay a dividend?
GuangZhou BaiYun Elec Equip Co currently shows a dividend yield of 0.97% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of GuangZhou BaiYun Elec Equip Co (603861) and when is the ex-dividend date?
GuangZhou BaiYun Elec Equip Co pays a dividend of ¥0.1 per share a year, a dividend yield of 1.0%. The last ex-dividend date was Oct 15, 2026. The payout ratio is 25.0% of earnings. Our assessment: Token dividend. At a yield of 1.0% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 1.0% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of GuangZhou BaiYun Elec Equip Co (603861)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GuangZhou BaiYun Elec Equip Co it is ¥4.52 per share (as of Nov 6, 2026), against a price of ¥10.35. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is GuangZhou BaiYun Elec Equip Co stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 603861 trades above its calculated fair value: price ¥10.35, fair value ¥4.52, a gap of about −56% (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 603861?
No. The price is what the market pays today (¥10.35); the fair value is what the company's own numbers justify (¥4.52). For GuangZhou BaiYun Elec Equip Co the two are ¥5.83 per share apart. That gap is exactly why we show both numbers side by side.
How much is GuangZhou BaiYun Elec Equip Co worth?
The market values GuangZhou BaiYun Elec Equip Co at about 5.6B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥10.35; our models calculate a fair value of ¥4.52 per share.
What do the bullish and bearish scenarios say about 603861?
Our models span a range for GuangZhou BaiYun Elec Equip Co: cautious scenario ¥4.32, base ¥4.52, optimistic ¥5.16 per share (as of Nov 6, 2026, price ¥10.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603861?
GuangZhou BaiYun Elec Equip Co trades at a price-to-earnings ratio of 25.9 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥4.52 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 37.8. Other multiples: P/B 1.4, P/S 1.1, EV/EBITDA 18.1.
How solid is the balance sheet of GuangZhou BaiYun Elec Equip Co (603861)?
Balance-sheet figures for GuangZhou BaiYun Elec Equip Co (as of Nov 6, 2026): return on equity 5.7%, debt of 0.32 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is 603861 from its 52-week high?
GuangZhou BaiYun Elec Equip Co trades at ¥10.35, about 51% below its 52-week high of ¥21.24 and 8% above the low of ¥9.55 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥4.52 is for.
Which stocks are comparable to GuangZhou BaiYun Elec Equip Co?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, 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 GuangZhou BaiYun Elec Equip Co stock attractive at the current price?
The data as of Nov 6, 2026: price ¥10.35, calculated fair value ¥4.52 (−56%), Quality Score 28/100, 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 603861 calculated?
We run GuangZhou BaiYun Elec Equip Co through 17 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥4.52 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. GuangZhou BaiYun Elec Equip Co 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 GuangZhou BaiYun Elec Equip Co (603861)?
The closing price on Nov 6, 2026 was ¥10.35. Our model-based fair value is ¥4.52, about 56% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GuangZhou BaiYun Elec Equip Co right now?
The price sits above even our optimistic bull case (¥5.16). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of GuangZhou BaiYun Elec Equip Co (603861) come from?
Earnings per share at GuangZhou BaiYun Elec Equip Co grew −4.9 % a year from 2013 to 2024. Broken into its drivers: revenue per share +13.1 %, EBIT margin −15.3 %, tax rate −0.5 %, residual (interest, one-offs) −0.3 %. 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 GuangZhou BaiYun Elec Equip Co
How large is the market capitalisation of GuangZhou BaiYun Elec Equip Co (603861)?
The market capitalisation of GuangZhou BaiYun Elec Equip Co is 5.6B CNY (≈ $839M). 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 GuangZhou BaiYun Elec Equip Co (603861)?
The price-to-sales ratio of GuangZhou BaiYun Elec Equip Co is 1.14 (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 GuangZhou BaiYun Elec Equip Co (603861)?
Earnings per share at GuangZhou BaiYun Elec Equip Co are ¥0.4000 (price ÷ EPS = P/E 25.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of GuangZhou BaiYun Elec Equip Co (603861)?
The dividend yield of GuangZhou BaiYun Elec Equip Co is 1.0% (payout 25.0%). 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 GuangZhou BaiYun Elec Equip Co (603861)?
The net margin of GuangZhou BaiYun Elec Equip Co is 4.3% (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 GuangZhou BaiYun Elec Equip Co (603861)?
The return on equity (ROE) of GuangZhou BaiYun Elec Equip Co is 5.7% (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 GuangZhou BaiYun Elec Equip Co (603861)?
On an EBIT basis the return on assets of GuangZhou BaiYun Elec Equip Co is 1.7% (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 GuangZhou BaiYun Elec Equip Co (603861)?
The operating margin of GuangZhou BaiYun Elec Equip Co is 2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at GuangZhou BaiYun Elec Equip Co (603861)?
Earnings per share at GuangZhou BaiYun Elec Equip Co are growing +12.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does GuangZhou BaiYun Elec Equip Co (603861) generate?
The free cash flow of GuangZhou BaiYun Elec Equip Co is −337M 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 GuangZhou BaiYun Elec Equip Co (603861) carry?
The net debt of GuangZhou BaiYun Elec Equip Co is 1.2B 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.
Free · no account needed
Watch GuangZhou BaiYun Elec Equip Co in the live analysis
One click puts GuangZhou BaiYun Elec Equip Co on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 6, 2026