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Sany Renewable Energy Co (688349) Fair Value & Analysis

Industrials · CN · Market cap 23.7B CNY

SR Sany Renewable Energy Co 688349 · SHG
Price¥14.96
Fair Value¥9.87
Upside-34.0%
Quality41/100
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Expensive Growth
Thin margins · 3.7% net margin
Low debt · negative free cash flow
2.05% dividend yield
Ranks above peers (9/13)
Narrow moat 31/100
Evidence: High Range ¥9.23 – ¥12.34 Share as image

Fair value as of: Jul 12, 2026

From 16 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from ¥12.20 to ¥9.87 (−19.1%) since Jun 24, 2026. Share price +7.5% over the past month.

Below-average quality, and screening another 34% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥12.34). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (4 years)

¥51.63 ¥13.31 Fair Value ¥9.87 Jun 2022 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

50‑month range ¥13.31 – ¥51.63 · fair‑value band ¥9.23 – ¥12.34 · the ¥14.96 price screens above the ¥9.87 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Sany Renewable Energy Co (688349) currently trades at ¥14.96, while our model-based Fair Value estimate is ¥9.87, implying the stock looks roughly 34.0% overvalued today. The Quality Score stands at 41/100 (below-average 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, Sany Renewable Energy Co generated revenue of 29.2B CNY at a net margin of 3.7%. Revenue grew 82.2% year over year. It earns a return on equity of 7.8%. Net debt stands at 21.3M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥9.23 (bear case) to ¥12.34 (bull case); at ¥14.96, 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 55% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -34%, 688349 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 ¥8.94 ¥9.16 ¥8.91 76
ROIC Compounder ¥9.34 ¥9.89 ¥10.37 72
Gordon GGM ¥6.07 ¥12.62 ¥20.02 70
All 16 models by family
Earnings-Based
Graham-Dodd ¥3.95 ¥27.54 ¥38.65 54
Lynch FV ¥11.06 ¥15.80 ¥20.54 50
PEG = 1.0 ¥11.06 ¥15.80 ¥20.54 46
EPV ¥9.34 ¥9.89 ¥10.37 59
Dividend Discount
Gordon GGM ¥6.07 ¥12.62 ¥20.02 70
DDM Multi-Stage ¥6.07 ¥10.64 ¥13.25 61
Multiples
P/E Multiple ¥9.15 ¥12.20 ¥15.24 63
P/S Multiple ¥7.40 ¥9.87 ¥12.34 58
P/B Multiple ¥7.40 ¥9.87 ¥12.34 55
EV/EBIT ¥11.63 ¥13.49 ¥15.35 53
EV/EBITDA ¥15.69 ¥18.90 ¥22.11 54
EV/Revenue ¥10.03 ¥11.74 ¥13.45 43
Asset-Based
NCAV (Graham) ¥5.76 ¥7.72 ¥11.53 50
Economic Profit
Residual Income ¥8.94 ¥9.16 ¥8.91 76
ROIC Compounder ¥9.34 ¥9.89 ¥10.37 72
Growth Earnings
Growth-Adj P/E ¥13.90 ¥19.86 ¥25.82 68

Widest divergence: Growth Earnings (¥19.86) versus Asset-Based (¥7.72). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 29.2B CNY
Revenue growth (YoY) +82.2%
Net margin 3.7%
Return on equity 7.8%
Free cash flow −2.3B CNY FY2025
P/E ratio 21.7
More key figures
Operating margin 0.6%
EPS (TTM) ¥0.8900
Dividend yield 2.1%
EPS growth (YoY) -43.5%
Net debt 21.3M CNY FY2021

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 39 · Market factors (momentum, volatility) 19

Profitability 26
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 1
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 77
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

Sany Renewable Energy Co.,Ltd. engages in the research and development, manufacture, and sale of wind turbines and generators in China. The company operates through five segments: The Wind Turbine Manufacturing Division; The wind power services; Wind farm development; Power Plant; and Others segments.

Full company description

Sany Renewable Energy Co.,Ltd. engages in the research and development, manufacture, and sale of wind turbines and generators in China. The company operates through five segments: The Wind Turbine Manufacturing Division; The wind power services; Wind farm development; Power Plant; and Others segments. It engages in the research and development, manufacturing and sales, maintenance and transportation services of wind turbines and their components; and provides wind power-related consulting and wind farm construction, as well as engages in wind farm development and operation. The company is also involved in development and sales of wind farms; and engages in internal operation support services. In addition, it develops, manages, and operates wind farms. The company was founded in 2008 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sany Renewable Energy Co reported revenue of ¥27.4B in FY2025 versus ¥10.2B in FY2021, a compound +28.0%/yr. Reported net income was ¥712M in FY2025, compounding −18.4%/yr from FY2021.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
27.4B CNY
Latest YoY
+53.9%
Avg. growth/yr (3Y)
+30.5%
Avg. growth/yr (5Y)
+24.1%
Revenue +28.0%/yr
FY21 ¥10.2B
FY22 ¥12.3B
FY23 ¥14.9B
FY24 ¥17.8B
FY25 ¥27.4B
Net income −18.4%/yr
FY21 ¥1.6B
FY22 ¥1.6B
FY23 ¥2.0B
FY24 ¥1.8B
FY25 ¥712M

688349 screens 34% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Sany Renewable Energy Co Fair Value". https://www.fairvalue-calculator.com/stock/688349

Peer Group

Specialty Industrial Machinery · 809 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 41 · Bottom 25%
Fair Value upside −34% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 1% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 82% · Top 25%
Dividend yield (TTM) 2.1% · Above median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 21.7× · Cheaper than median
P/B 1.68× · Cheaper than median
P/S (TTM) 0.81× · Cheaper than median
EV/EBITDA 11.8× · 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 0 · sector 0
FUTURE 100 · sector 23
PAST 31 · sector 28
HEALTH 98 · sector 96
DIVIDEND 41 · sector 24

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

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Sany Renewable Energy Co (688349) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥9.87 versus a price of ¥14.96, about −34% (overvalued).
What is the fair value of 688349?
Our model-based fair value for Sany Renewable Energy Co is ¥9.87 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥14.96.
What is the quality score of 688349?
Sany Renewable Energy Co has a Quality Score of 41/100. 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 Sany Renewable Energy Co (688349)?
Sany Renewable Energy Co reported trailing-twelve-month revenue of about 29.2B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 688349?
The net profit margin of Sany Renewable Energy Co is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.
Does Sany Renewable Energy Co pay a dividend?
Sany Renewable Energy Co currently shows a dividend yield of about 2.05% 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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