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Qingdao Yunlu Advanced Materials Technology Co (688190) Fair Value & Analysis

Industrials · CN · Market cap 11.7B CNY

QY Qingdao Yunlu Advanced Materials Technology Co 688190 · SHG
Price¥73.70
Fair Value¥40.00
Upside-45.7%
Quality53/100
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Expensive Growth
Solidly profitable · 14.3% net margin
Low debt · negative free cash flow
1.39% dividend yield
Ranks above peers (8/13)
Moderate moat 54/100
Evidence: High Range ¥22.46 – ¥56.85 Share as image

Fair value as of: Jul 12, 2026

From 17 valuation models · updated 29 days ago

Share price −3.3% over the past month.

A solid business, but screening 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥56.85). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥22.46 to ¥56.85) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥137.18 ¥48.52 Fair Value ¥40.00 Nov 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

56‑month range ¥48.52 – ¥137.18 · fair‑value band ¥22.46 – ¥56.85 · the ¥73.70 price screens above the ¥40.00 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Qingdao Yunlu Advanced Materials Technology Co (688190) currently trades at ¥73.70, while our model-based Fair Value estimate is ¥40.00, implying the stock looks roughly 45.7% overvalued today. The Quality Score stands at 53/100 (solid 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: high).

Over the trailing twelve months, Qingdao Yunlu Advanced Materials Technology Co generated revenue of 1.9B CNY at a net margin of 14.3%. Revenue grew 11.2% year over year. It earns a return on equity of 10.5%. Net debt stands at 9.7M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥22.46 (bear case) to ¥56.85 (bull case); at ¥73.70, 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 45% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at -46%, 688190 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 ¥19.89 ¥22.86 ¥41.37 76
ROIC Compounder ¥21.20 ¥28.14 ¥36.04 72
Gordon GGM ¥8.54 ¥17.75 ¥28.17 70
All 17 models by family
DCF Models
Owner Earnings ¥39.01 ¥72.70 ¥133.02 31
Earnings-Based
Graham-Dodd ¥16.68 ¥83.14 ¥114.71 54
Lynch FV ¥22.46 ¥32.09 ¥41.72 50
PEG = 1.0 ¥22.46 ¥32.09 ¥41.72 46
EPV ¥21.20 ¥24.67 ¥27.70 59
Dividend Discount
Gordon GGM ¥8.54 ¥17.75 ¥28.17 70
DDM Multi-Stage ¥8.54 ¥14.97 ¥18.63 61
Multiples
P/E Multiple ¥38.64 ¥51.52 ¥64.40 63
P/S Multiple ¥23.62 ¥31.49 ¥39.37 58
P/B Multiple ¥31.28 ¥41.71 ¥52.13 55
EV/EBIT ¥35.64 ¥47.37 ¥59.11 53
EV/EBITDA ¥34.58 ¥45.97 ¥57.36 54
EV/Revenue ¥20.27 ¥28.77 ¥37.27 43
Asset-Based
NCAV (Graham) ¥10.95 ¥14.67 ¥21.90 50
Economic Profit
Residual Income ¥19.89 ¥22.86 ¥41.37 76
ROIC Compounder ¥21.20 ¥28.14 ¥36.04 72
Growth Earnings
Growth-Adj P/E ¥34.37 ¥49.10 ¥63.83 68

Widest divergence: DCF Models (¥72.70) versus Asset-Based (¥14.67). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.9B CNY
Revenue growth (YoY) +11.2%
Net margin 14.3%
Return on equity 10.5%
Free cash flow −3.4M CNY FY2025
P/E ratio 42.3
More key figures
Operating margin 14.8%
EPS (TTM) ¥2.31
Dividend yield 1.4%
EPS growth (YoY) -21.2%
Net debt 9.7M CNY FY2019

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 31

Profitability 47
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 82
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

Qingdao Yunlu Advanced Materials Technology Co., Ltd. researches, designs, develops, produces, and sells advanced magnetic metal materials in China and internationally. The company offers amorphous alloy ribbon and core; nanocrystalline alloy material, and magnetic powder.

Full company description

Qingdao Yunlu Advanced Materials Technology Co., Ltd. researches, designs, develops, produces, and sells advanced magnetic metal materials in China and internationally. The company offers amorphous alloy ribbon and core; nanocrystalline alloy material, and magnetic powder. Its products are used 5G infrastructure, power distribution, photovoltaic, rail transit, data center, home appliances, new energy vehicles, heavy ion scientific research and other fields. The company was founded in 1996 and is headquartered in Qingdao, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Qingdao Yunlu Advanced Materials Technology Co reported revenue of ¥1.9B in FY2025 versus ¥936M in FY2021, a compound +19.2%/yr. Reported net income was ¥294M in FY2025, compounding +25.2%/yr from FY2021.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.9B CNY
Latest YoY
−0.6%
Avg. growth/yr (3Y)
+9.3%
Avg. growth/yr (5Y)
+21.4%
Avg. growth/yr (6Y)
+18.0%
Revenue +19.2%/yr
FY21 ¥936M
FY22 ¥1.4B
FY23 ¥1.8B
FY24 ¥1.9B
FY25 ¥1.9B
Net income +25.2%/yr
FY21 ¥120M
FY22 ¥226M
FY23 ¥332M
FY24 ¥361M
FY25 ¥294M

688190 screens 46% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Qingdao Yunlu Advanced Materials Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/688190

Peer Group

Metal Fabrication · 243 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 53 · Above median
Fair Value upside −46% · Below median
Return on equity (TTM) 11% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth 11% · Above median
Dividend yield (TTM) 1.4% · Above median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 42.3× · Pricier than median
P/B 4.46× · Pricier than 75% of peers
P/S (TTM) 6.05× · Pricier than 75% of peers
EV/EBITDA 30.4× · Pricier than 75% of peers

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 0
FUTURE 56 · sector 35
PAST 42 · sector 21
HEALTH 100 · sector 95
DIVIDEND 28 · sector 25

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

Insider activity: 40/100

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.

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10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

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Frequently asked questions

Is Qingdao Yunlu Advanced Materials Technology Co (688190) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥40.00 versus a price of ¥73.70, about −46% (overvalued).
What is the fair value of 688190?
Our model-based fair value for Qingdao Yunlu Advanced Materials Technology Co is ¥40.00 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥73.70.
What is the quality score of 688190?
Qingdao Yunlu Advanced Materials Technology Co has a Quality Score of 53/100. 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 Qingdao Yunlu Advanced Materials Technology Co (688190)?
Qingdao Yunlu Advanced Materials Technology Co reported trailing-twelve-month revenue of about 1.9B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 688190?
The net profit margin of Qingdao Yunlu Advanced Materials Technology Co is about 14.3%, meaning it keeps roughly 14.3% of revenue as net income. Based on the latest reported figures.
Does Qingdao Yunlu Advanced Materials Technology Co pay a dividend?
Qingdao Yunlu Advanced Materials Technology Co currently shows a dividend yield of about 1.39% relative to its recent price (as of Jul 12, 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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