Zhejiang Xinhua Chemical Co Ltd (603867) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Zhejiang Xinhua Chemical Co Ltd stock ¥12.12, price ¥24.96, that is 51.4% below the price, quality 43 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 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 ¥16.84 – ¥42.15 · fair‑value band ¥9.37 – ¥13.15 · the ¥24.96 price screens above the ¥12.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Zhejiang Xinhua Chemical Co.,Ltd manufactures and trades in various chemicals and chemical raw material in China and internationally. It offers fatty amines, organic solvents, flavors, hydrogen peroxide organic amine series, inorganic chemicals, and custom chemicals.
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The company also offers aroma chemicals, such as turpentine oil derivatives, sandal series, ester series, and others flame retardants; and peroxide series, synthetic ammonia, and other fine chemicals.
Zhejiang Xinhua Chemical Co.,Ltd was formerly known as Jiande City Xinhua Chemical Co.,Ltd and changed its name to Zhejiang Xinhua Chemical Co.,Ltd in June 2008. The company was founded in 1967 and is based in Jiande, China.
Stock analysis
Zhejiang Xinhua Chemical Co Ltd (603867) currently trades at ¥24.96, while our model-based Fair Value estimate is ¥12.12, 51% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥22.17 per share, and 1 of the 16 models we run sit above the ¥24.96 price.
Bear case: the Asset-Based group reads lowest at ¥1.93, and 15 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥9.37 (bear) to ¥13.15 (bull), the price of ¥24.96 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 43/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Zhejiang Xinhua Chemical Co Ltd reported revenue of 2.9B CNY in FY2025 versus 2.6B CNY in FY2021, a compound +3.6%/yr. Reported net income was 260M CNY in FY2025, compounding +7.3%/yr from FY2021.
Key figures
Market cap 5.4B CNY (≈ $809M) Small · P/E ratio 18.5 · P/S ratio 1.72 · EPS (TTM) ¥1.35 · Dividend yield 2.4% · Net margin 8.7% · Return on equity 10.1% · Return on assets (EBIT) 8.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −24% fair-value upside, at −51%, 603867 screens richer than that median.
Fair Value models
Bear¥9.37Fair Value ¥12.12Bull¥13.15
Price ¥24.96 · Downside -51.4%
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 (¥0.6432 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¥11.02¥11.50¥12.6976
EPV¥12.79¥14.26¥15.4774
ROIC Compounder¥12.79¥14.35¥16.4172
All 16 models by family
Earnings-Based
Graham-Dodd¥8.14¥23.98¥31.7165
Lynch FV¥5.02¥7.17¥9.3261
PEG = 1.0¥5.02¥7.17¥9.3257
EPV¥12.79¥14.26¥15.4774
Dividend Discount
Gordon GGM¥3.16¥5.49¥7.3368
DDM Multi-Stage¥3.16¥4.72¥5.8967
Multiples
P/E Multiple¥15.27¥20.36¥25.4563
P/S Multiple¥15.22¥20.30¥25.3758
P/B Multiple¥30.05¥40.06¥50.0855
EV/EBIT¥17.97¥23.98¥29.9966
EV/EBITDA¥18.65¥24.89¥31.1367
EV/Revenue¥14.15¥20.24¥26.3353
Asset-Based
NCAV (Graham)¥1.27¥1.93¥2.4154
Economic Profit
Residual Income¥11.02¥11.50¥12.6976
ROIC Compounder¥12.79¥14.35¥16.4172
Growth Earnings
Growth-Adj P/E¥12.68¥18.11¥23.5467
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.31/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−0.8%
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.
+3.1%
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.
+4.9%
Start year 2020 (pandemic). Over 10 years: +8.3% a year
Revenue growth 11 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%
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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.
+4.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)2.4%
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.2.1% vs 6.8%, 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.11% → 13%
Compare Zhejiang Xinhua Chemical 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.Chemicals · 337 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside−51.8% · Below median
Profitability
Return on equity (12 months)10.1% · Above median
Return on assets5.6% · Above median
Net margin (12 months)8.7% · Above median
Operating margin (12 months)11.5% · Above median
Growth and dividend
Revenue growth (quarter YoY)22.2% · Above median
Dividend yield (12 months)2.4% · Above median
Balance sheet
Debt / equity0.08× · Below median
Valuation Multiplesvs Chemicals median · lower = cheaper
P/E (12 months)18.5× · Pricier than median
P/B1.78× · Pricier than median
P/S (12 months)1.72× · Pricier than median
EV/EBITDA9.5× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 9
FUTURE (revenue growth)100· sector 67
PAST (return on equity)40· sector 24
HEALTH (low debt)96· sector 94
DIVIDEND (yield)48· sector 32
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). "Zhejiang Xinhua Chemical Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603867
Frequently asked questions
Is Zhejiang Xinhua Chemical Co Ltd (603867) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥12.12 versus a price of ¥24.96, about 51% lower (overvalued).
What is the fair value of 603867?
Our model-based fair value for Zhejiang Xinhua Chemical Co Ltd is ¥12.12 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥24.96.
What is the quality score of 603867?
Zhejiang Xinhua Chemical Co Ltd has a Quality Score of 43/100. 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 Zhejiang Xinhua Chemical Co Ltd (603867)?
Our model-based price target is the fair value of ¥12.12 (as of Nov 6, 2026) from 16 valuation models. Cautious scenario ¥9.37, optimistic scenario ¥13.15. It is a calculation from audited fundamentals, not an analyst target.
What is the Zhejiang Xinhua Chemical Co Ltd stock forecast for 2026?
Our models put fair value at ¥12.12, about 51% lower versus a price of ¥24.96 (overvalued). Cautious scenario ¥9.37, optimistic scenario ¥13.15. The calculation is refreshed regularly with new filings.
What is the revenue of Zhejiang Xinhua Chemical Co Ltd (603867)?
Zhejiang Xinhua Chemical Co Ltd reported trailing-twelve-month revenue of about 3.2B CNY (latest available figure, as of Nov 6, 2026).
Does Zhejiang Xinhua Chemical Co Ltd pay a dividend?
Zhejiang Xinhua Chemical Co Ltd currently shows a dividend yield of 2.40% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Zhejiang Xinhua Chemical Co Ltd (603867) and when is the ex-dividend date?
Zhejiang Xinhua Chemical Co Ltd pays a dividend of ¥0.6 per share a year, a dividend yield of 2.4%. The last ex-dividend date was Sep 18, 2026. The payout ratio is 44.4% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Zhejiang Xinhua Chemical Co Ltd (603867)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zhejiang Xinhua Chemical Co Ltd it is ¥12.12 per share (as of Nov 6, 2026), against a price of ¥24.96. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Zhejiang Xinhua Chemical Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 603867 trades above its calculated fair value: price ¥24.96, fair value ¥12.12, a gap of about −51% (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 603867?
No. The price is what the market pays today (¥24.96); the fair value is what the company's own numbers justify (¥12.12). For Zhejiang Xinhua Chemical Co Ltd the two are ¥12.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zhejiang Xinhua Chemical Co Ltd worth?
The market values Zhejiang Xinhua Chemical Co Ltd at about 5.4B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥24.96; our models calculate a fair value of ¥12.12 per share.
What do the bullish and bearish scenarios say about 603867?
Our models span a range for Zhejiang Xinhua Chemical Co Ltd: cautious scenario ¥9.37, base ¥12.12, optimistic ¥13.15 per share (as of Nov 6, 2026, price ¥24.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603867?
Zhejiang Xinhua Chemical Co Ltd trades at a price-to-earnings ratio of 18.5 (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 ¥12.12 is built from several models across several years. Other multiples: P/B 1.8, P/S 1.7, EV/EBITDA 9.5.
How solid is the balance sheet of Zhejiang Xinhua Chemical Co Ltd (603867)?
Balance-sheet figures for Zhejiang Xinhua Chemical Co Ltd (as of Nov 6, 2026): return on equity 10.1%, debt of 0.08 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 603867 from its 52-week high?
Zhejiang Xinhua Chemical Co Ltd trades at ¥24.96, about 41% below its 52-week high of ¥42.15 and 4% above the low of ¥23.98 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ¥12.12 is for.
Which stocks are comparable to Zhejiang Xinhua Chemical Co Ltd?
From the same area (Basic Materials) we also value BASF SE, Saudi Basic Industries Corporation, Dow Inc, Ningxia Baofeng Energy Group, 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 Zhejiang Xinhua Chemical Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price ¥24.96, calculated fair value ¥12.12 (−51%), Quality Score 43/100, from 16 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 603867 calculated?
We run Zhejiang Xinhua Chemical Co Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥12.12 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 13.3% above its aggregate fair value. Zhejiang Xinhua Chemical 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 Zhejiang Xinhua Chemical Co Ltd (603867)?
The closing price on Nov 9, 2026 was ¥24.96. Our model-based fair value is ¥12.12, about 51% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zhejiang Xinhua Chemical Co Ltd right now?
The price sits above even our optimistic bull case (¥13.15). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of Zhejiang Xinhua Chemical Co Ltd (603867) come from?
Earnings per share at Zhejiang Xinhua Chemical Co Ltd grew +15.4 % a year from 2014 to 2024. Broken into its drivers: revenue per share +2.4 %, EBIT margin +22.9 %, tax rate −0.9 %, residual (interest, one-offs) −7.4 %. 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 Zhejiang Xinhua Chemical Co Ltd
How large is the market capitalisation of Zhejiang Xinhua Chemical Co Ltd (603867)?
The market capitalisation of Zhejiang Xinhua Chemical Co Ltd is 5.4B CNY (≈ $809M). 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 Zhejiang Xinhua Chemical Co Ltd (603867)?
The price-to-sales ratio of Zhejiang Xinhua Chemical Co Ltd is 1.72 (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 Zhejiang Xinhua Chemical Co Ltd (603867)?
Earnings per share at Zhejiang Xinhua Chemical Co Ltd are ¥1.35 (price ÷ EPS = P/E 18.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zhejiang Xinhua Chemical Co Ltd (603867)?
The dividend yield of Zhejiang Xinhua Chemical Co Ltd is 2.4% (payout 44.4%). 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 Zhejiang Xinhua Chemical Co Ltd (603867)?
The net margin of Zhejiang Xinhua Chemical Co Ltd is 8.7% (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 Zhejiang Xinhua Chemical Co Ltd (603867)?
The return on equity (ROE) of Zhejiang Xinhua Chemical Co Ltd is 10.1% (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 Zhejiang Xinhua Chemical Co Ltd (603867)?
On an EBIT basis the return on assets of Zhejiang Xinhua Chemical Co Ltd is 8.8% (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 Zhejiang Xinhua Chemical Co Ltd (603867)?
The operating margin of Zhejiang Xinhua Chemical Co Ltd is 11.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zhejiang Xinhua Chemical Co Ltd (603867)?
Revenue at Zhejiang Xinhua Chemical Co Ltd is growing +22.2% versus a year earlier (3y avg +3.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Zhejiang Xinhua Chemical Co Ltd (603867) generate?
The free cash flow of Zhejiang Xinhua Chemical Co Ltd is −20.5M 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 Zhejiang Xinhua Chemical Co Ltd (603867) carry?
The net debt of Zhejiang Xinhua Chemical Co Ltd is 13.8M CNY (fiscal year 2024). 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
Nov 6, 2026