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China Feihe Limited (6186) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$25.1B

CF China Feihe Limited 6186 · HK
PriceHK$3.33
Fair ValueHK$4.87
Upside+46.3%
Quality58/100
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Weak Growth
Solidly profitable · 10.7% net margin
Low debt · generates free cash flow
8.04% dividend yield
Ranks above peers (12/15)
Narrow moat 44/100
Evidence: Medium Range HK$3.01 – HK$6.72 Share as image

Fair value as of: Aug 6, 2026

From 26 valuation models · updated 4 days ago

Fair value updated Aug 6, 2026, revised from HK$4.86 to HK$4.87 (+0.2%) since Jul 2, 2026. Share price +10.3% over the past month.

A solid business, screening 46% undervalued on our models.

What matters now

  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$3.01 to HK$6.72) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$16.75 HK$2.80 Fair Value HK$4.87 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range HK$2.80 – HK$16.75 · fair‑value band HK$3.01 – HK$6.72 · the HK$3.33 price screens below the HK$4.87 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

China Feihe Limited (6186) currently trades at HK$3.33, while our model-based Fair Value estimate is HK$4.87, implying the stock looks roughly 46.3% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, China Feihe Limited generated revenue of HK$18.1B at a net margin of 10.7%. Revenue declined 15.9% year over year. It earns a return on equity of 7.8%. The balance sheet holds a net cash position of HK$6.8B. Fundamentals as of Aug 6, 2026

Our scenario range runs from HK$3.01 (bear case) to HK$6.72 (bull case); at HK$3.33, the current price sits within 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 38% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 46%, 6186 screens cheaper 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
Growth DCF HK$1.71 HK$2.14 HK$2.77 80
Residual Income HK$2.33 HK$2.50 HK$2.78 76
Rev-Margin DCF HK$2.50 HK$3.72 HK$5.14 74
All 26 models by family
DCF Models
FCF DCF HK$1.69 HK$2.19 HK$2.96 38
Owner Earnings HK$2.01 HK$2.69 HK$3.75 31
5Y Revenue Exit HK$2.50 HK$3.75 HK$5.38 39
5Y EBITDA Exit HK$3.03 HK$4.76 HK$6.82 41
5Y P/E Exit HK$3.17 HK$5.03 HK$7.02 38
10Y Revenue Exit HK$2.13 HK$3.21 HK$4.73 36
10Y EBITDA Exit HK$2.54 HK$3.92 HK$5.84 37
10Y P/E Exit HK$2.63 HK$4.11 HK$5.99 35
Earnings-Based
Graham-Dodd HK$1.50 HK$4.96 HK$6.64 54
Lynch FV HK$1.12 HK$1.60 HK$2.08 50
PEG = 1.0 HK$1.12 HK$1.60 HK$2.08 46
EPV HK$2.15 HK$2.37 HK$2.55 59
Dividend Discount
Gordon GGM HK$2.34 HK$4.87 HK$7.73 70
DDM Multi-Stage HK$2.34 HK$3.99 HK$5.11 61
Multiples
P/E Multiple HK$3.47 HK$4.62 HK$5.78 63
P/S Multiple HK$2.47 HK$3.29 HK$4.11 58
P/B Multiple HK$2.81 HK$3.74 HK$4.68 55
EV/EBIT HK$4.33 HK$5.48 HK$6.64 53
EV/EBITDA HK$4.08 HK$5.15 HK$6.23 54
EV/Revenue HK$3.01 HK$3.94 HK$4.86 43
Asset-Based
NCAV (Graham) HK$1.39 HK$1.86 HK$2.78 50
Growth DCF
Growth DCF HK$1.71 HK$2.14 HK$2.77 80
Rev-Margin DCF HK$2.50 HK$3.72 HK$5.14 74
Economic Profit
Residual Income HK$2.33 HK$2.50 HK$2.78 76
ROIC Compounder HK$2.15 HK$2.37 HK$2.55 72
Growth Earnings
Growth-Adj P/E HK$2.93 HK$4.19 HK$5.44 68

Widest divergence: Growth Earnings (HK$4.19) versus Earnings-Based (HK$1.60). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$18.1B
Revenue growth (YoY) -15.9%
Net margin 10.7%
Return on equity 7.8%
Free cash flow HK$643M FY2025
P/E ratio 11.9
More key figures
Operating margin 12.9%
EPS (TTM) HK$0.1100
Dividend yield 8.0%
EPS growth (YoY) -44.5%
Net cash HK$6.8B FY2025

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 57 · Market factors (momentum, volatility) 41

Profitability 46
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 80
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

China Feihe Limited, an investment holding company, produces and sells dairy products, raw milk, and nutritional supplements in Mainland China, Canada, Indonesia, and the United States. It operates through two segments, Dairy Products and Nutritional Supplements Products; and Raw Milk.

Full company description

China Feihe Limited, an investment holding company, produces and sells dairy products, raw milk, and nutritional supplements in Mainland China, Canada, Indonesia, and the United States. It operates through two segments, Dairy Products and Nutritional Supplements Products; and Raw Milk. The company offers dairy products adult milk powders; liquid milk products; and rice powder supplement products, as well as health care products. It also retails vitamins, minerals, herbs, and other nutritional supplements. The company sells its products distributors, retailers, e-commerce platforms, and end consumers through e-commerce channels. China Feihe Limited was founded in 1962 and is headquartered in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Feihe Limited reported revenue of HK$18.1B in FY2025 versus HK$22.8B in FY2021, a compound −5.6%/yr. Reported net income was HK$1.9B in FY2025, compounding −27.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$18.1B
Latest YoY
−12.7%
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.
−5.3%
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.
−0.5%
Avg. growth/yr (9Y) 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.
+19.2%
Revenue −5.6%/yr
FY21 HK$22.8B
FY22 HK$21.3B
FY23 HK$19.5B
FY24 HK$20.7B
FY25 HK$18.1B
Net income −27.1%/yr
FY21 HK$6.9B
FY22 HK$4.9B
FY23 HK$3.4B
FY24 HK$3.6B
FY25 HK$1.9B

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Cite: Fair Value Calculator (2026). "China Feihe Limited Fair Value". https://www.fairvalue-calculator.com/stock/6186

Peer Group

Packaged Foods · 649 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 58 · Above median
Fair Value upside +46% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth -16% · Bottom 25%
Dividend yield (TTM) 8.0% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 11.9× · Cheaper than 75% of peers
P/B 1.03× · Cheaper than median
P/S (TTM) 1.39× · Pricier than median
P/FCF 5.0× · Pricier than median
EV/EBITDA 5.3× · Cheaper than median
PEG 0.85× · 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 95 · sector 28
FUTURE 0 · sector 20
PAST 31 · sector 27
HEALTH 100 · sector 96
DIVIDEND 100 · sector 47

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is China Feihe Limited (6186) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of HK$4.87 versus a price of HK$3.33, about +46% (undervalued).
What is the fair value of 6186?
Our model-based fair value for China Feihe Limited is HK$4.87 (as of Aug 6, 2026), built from audited fundamentals. The current price is HK$3.33.
What is the quality score of 6186?
China Feihe Limited has a Quality Score of 58/100. 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 China Feihe Limited (6186)?
China Feihe Limited reported trailing-twelve-month revenue of about HK$18.1B (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 6186?
The net profit margin of China Feihe Limited is about 10.7%, meaning it keeps roughly 10.7% of revenue as net income. Based on the latest reported figures.
Does China Feihe Limited pay a dividend?
China Feihe Limited currently shows a dividend yield of about 8.04% relative to its recent price (as of Aug 6, 2026).

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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