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Zhuzhou CRRC Times Electric Co (688187) Fair Value & Analysis

Industrials · CN · Market cap 72.1B CNY

ZC Zhuzhou CRRC Times Electric Co 688187 · SHG
Price¥49.74
Fair Value¥58.47
Upside+17.6%
Quality57/100
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Expensive Growth
Solidly profitable · 14.0% net margin
Low debt · negative free cash flow
2.04% dividend yield
Ranks above peers (9/13)
Moderate moat 51/100
Evidence: Medium Range ¥43.43 – ¥73.50 Share as image

Fair value as of: Jul 5, 2026

From 17 valuation models · updated 33 days ago

Fair value updated Jul 5, 2026, revised from ¥87.12 to ¥58.47 (−32.9%) since Jun 24, 2026. Share price −11.1% over the past month.

A solid business, screening 18% undervalued on our models.

What matters now

  • Our model range runs from ¥43.43 (bear) to ¥73.50 (bull), base ¥58.47. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 57/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥82.09 ¥30.69 Fair Value ¥58.47 Sep 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 5, 2026.

How to read this chart

59‑month range ¥30.69 – ¥82.09 · fair‑value band ¥43.43 – ¥73.50 · the ¥49.74 price screens below the ¥58.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 5, 2026.

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Analysis

Zhuzhou CRRC Times Electric Co (688187) currently trades at ¥49.74, while our model-based Fair Value estimate is ¥58.47, implying the stock looks roughly 17.6% undervalued today. We read business quality at 57/100 (solid quality), in the Industrials 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, Zhuzhou CRRC Times Electric Co generated revenue of 29.3B CNY at a net margin of 14.0%. Revenue grew 12.5% year over year. It earns a return on equity of 9.4%. Net debt stands at 2.1B CNY. Fundamentals as of Jul 5, 2026

Our scenario range runs from ¥43.43 (bear case) to ¥73.50 (bull case); at ¥49.74, 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 share trades about 25% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -28% fair-value upside, at 18%, 688187 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 BearBaseBull Evidence
Highest evidence
Residual Income ¥27.34 ¥30.18 ¥43.49 76
ROIC Compounder ¥35.31 ¥47.45 ¥59.42 72
Gordon GGM ¥13.73 ¥28.54 ¥45.28 70
All 17 models by family
DCF Models
Owner Earnings ¥18.06 ¥30.37 ¥53.02 31
Earnings-Based
Graham-Dodd ¥20.52 ¥109.10 ¥151.10 54
Lynch FV ¥30.08 ¥42.97 ¥55.86 50
PEG = 1.0 ¥30.08 ¥42.97 ¥55.86 46
EPV ¥33.80 ¥38.61 ¥42.82 59
Dividend Discount
Gordon GGM ¥13.73 ¥28.54 ¥45.28 70
DDM Multi-Stage ¥13.73 ¥24.07 ¥29.96 61
Multiples
P/E Multiple ¥45.26 ¥60.35 ¥75.43 63
P/S Multiple ¥38.47 ¥51.29 ¥64.12 58
P/B Multiple ¥38.47 ¥51.29 ¥64.12 55
EV/EBIT ¥50.41 ¥65.57 ¥80.74 53
EV/EBITDA ¥46.54 ¥60.42 ¥74.30 54
EV/Revenue ¥35.58 ¥48.72 ¥61.86 43
Asset-Based
NCAV (Graham) ¥15.65 ¥20.97 ¥31.29 50
Economic Profit
Residual Income ¥27.34 ¥30.18 ¥43.49 76
ROIC Compounder ¥35.31 ¥47.45 ¥59.42 72
Growth Earnings
Growth-Adj P/E ¥43.36 ¥61.95 ¥80.53 68

Widest divergence: Growth Earnings (¥61.95) versus Asset-Based (¥20.97). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 29.3B CNY
Revenue growth (YoY) +12.5%
Net margin 14.0%
Return on equity 9.4%
Free cash flow −45.0M CNY FY2025
P/E ratio 17.7
More key figures
Operating margin 14.9%
EPS (TTM) ¥2.99
Dividend yield 2.0%
EPS growth (YoY) +4.4%
Net debt 2.1B CNY FY2025

Figures from reported company fundamentals · as of Jul 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 56 · Market factors (momentum, volatility) 54

Profitability 39
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 99
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

Zhuzhou CRRC Times Electric Co., Ltd., together with its subsidiaries, engages in the provision of propulsion and control systems in Mainland China and internationally.

Full company description

Zhuzhou CRRC Times Electric Co., Ltd., together with its subsidiaries, engages in the provision of propulsion and control systems in Mainland China and internationally. It provides traction converter systems, power supply systems, informationization and intelligent system products, test equipment, urban rail vehicle door systems, electrical system of passenger car, technological equipment of urban rail transit, braking system of urban rail transit, communication and signaling systems, and electromechanical system integration. The company also offers rail maintenance and engineering products, such as heavy-duty motor trolleys, OCS operating vehicles, engineering vehicle for urban rail transit, large track maintenance machinery, line maintenance services, electrical system of rail engineering machinery, and infrastructure inspection and monitoring systems. In addition, it provides new energy, including wind power inverter, PV inverter, storage systems, and hydrogen power supply; and industrial and component products comprising industrial electrified products, electric drive system of new energy vehicles, marine engineering equipment, power semiconductor devices, and sensors. The company was formerly known as Zhuzhou CSR Times Electric Co., Ltd. and changed its name to Zhuzhou CRRC Times Electric Co., Ltd. in March 2016. Zhuzhou CRRC Times Electric Co., Ltd. was incorporated in 2005 and is headquartered in Zhuzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhuzhou CRRC Times Electric Co reported revenue of ¥28.6B in FY2025 versus ¥15.1B in FY2021, a compound +17.3%/yr. Reported net income was ¥4.1B in FY2025, compounding +19.4%/yr from FY2021.

Growth Quality 59/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
28.6B CNY
Latest YoY
+15.5%
Avg. growth/yr (3Y)
+16.6%
Avg. growth/yr (5Y)
+12.3%
Avg. growth/yr (6Y)
+9.8%
Revenue +17.3%/yr
FY21 ¥15.1B
FY22 ¥18.0B
FY23 ¥21.8B
FY24 ¥24.8B
FY25 ¥28.6B
Net income +19.4%/yr
FY21 ¥2.0B
FY22 ¥2.6B
FY23 ¥3.0B
FY24 ¥3.7B
FY25 ¥4.1B

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Cite: Fair Value Calculator (2026). "Zhuzhou CRRC Times Electric Co Fair Value". https://www.fairvalue-calculator.com/stock/688187

Peer Group

Railroads · 109 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 57 · Above median
Fair Value upside +18% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 14% · Above median
Operating margin (TTM) 15% · Above median
Revenue growth 13% · Top 25%
Dividend yield (TTM) 2.0% · Below median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Railroads median · lower = cheaper

P/E (TTM) 17.7× · Cheaper than median
P/B 1.70× · Pricier than median
P/S (TTM) 2.46× · Pricier than median
EV/EBITDA 11.0× · Pricier 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 57 · sector 27
FUTURE 63 · sector 20
PAST 38 · sector 31
HEALTH 100 · sector 88
DIVIDEND 41 · sector 41

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 Railroads stocks, each showing price versus our Fair Value estimate (as of Jul 5, 2026).

Stock Price Fair Value vs Fair Value
Union Pacific Corporation UNP $301.75 $144.60 -52%
CSX Corporation CSX $49.41 $12.85 -74%
Canadian Pacific Kansas City Limited CP $92.91 $35.00 -62%
Canadian National Railway Company CNI $128.22 $92.63 -28%
Norfolk Southern Corporation NSC $327.47 $117.90 -64%
Westinghouse Air Brake Technologies Corporation WAB $259.71 $144.80 -44%
Beijing-Shanghai High-Speed Railway Co 601816 ¥4.82 ¥5.65 +17%
CRRC Corporation 601766 ¥5.65 ¥9.53 +69%
Daqin Railway Co 601006 ¥4.85 ¥6.24 +29%
Hyundai Rotem Company 064350 167,700 KRW 125,182 KRW -25%

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Frequently asked questions

Is Zhuzhou CRRC Times Electric Co (688187) overvalued or undervalued?
As of Jul 5, 2026, our model estimates a fair value of ¥58.47 versus a price of ¥49.74, about +18% (undervalued).
What is the fair value of 688187?
Our model-based fair value for Zhuzhou CRRC Times Electric Co is ¥58.47 (as of Jul 5, 2026), built from audited fundamentals. The current price is ¥49.74.
What is the quality score of 688187?
Zhuzhou CRRC Times Electric Co has a Quality Score of 57/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Zhuzhou CRRC Times Electric Co (688187)?
Zhuzhou CRRC Times Electric Co reported trailing-twelve-month revenue of about 29.3B CNY (latest available figure, as of Jul 5, 2026).
What is the net profit margin of 688187?
The net profit margin of Zhuzhou CRRC Times Electric Co is about 14.0%, meaning it keeps roughly 14.0% of revenue as net income. Based on the latest reported figures.
Does Zhuzhou CRRC Times Electric Co pay a dividend?
Zhuzhou CRRC Times Electric Co currently shows a dividend yield of about 2.04% relative to its recent price (as of Jul 5, 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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