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Jilin OLED Material Tech Co Ltd (688378) Fair Value & Analysis

Basic Materials · CN · Market cap 10.8B CNY (≈ $1.6B) · ISIN CNE100004371

What is Jilin OLED Material Tech Co Ltd really worth?

JO Jilin OLED Material Tech Co Ltd 688378 · SHG
Price¥44.71
Fair Value¥5.23
Upside−88.3%
Quality60/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

A solid business, but trading 755% above our fair value of ¥5.23.

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Strengths

Solidly profitable · 19.3% net margin

Risks

!Expensive Growth (revenue 5y +15.3 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (6/13)
!Moderate moat 61/100
!Evidence only low, so the estimate is less certain
!Weak on past: 27 out of 100
!Weak on dividend: 9 out of 100

For context

·0.45% dividend yield
Evidence: Low Range ¥3.92 – ¥6.54

Fair value as of: Aug 13, 2026

From 17 valuation models · updated 18 days ago

Share price +25.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (¥6.54). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

¥62.00 ¥10.91 Fair Value ¥5.23 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥10.91 – ¥62.00 · fair‑value band ¥3.92 – ¥6.54 · the ¥44.71 price screens above the ¥5.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Jilin OLED Material Tech Co Ltd (688378) currently trades at ¥44.71, while our model-based Fair Value estimate is ¥5.23, implying the stock looks roughly 754.7% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of ¥10.00 per share, and 0 of the 17 models we run sit above the ¥44.71 price. Bear case: the Economic Profit group reads lowest at ¥3.05, and 17 of the 17 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Jilin OLED Material Tech Co Ltd generated revenue of 659M CNY at a net margin of 19.3%. Revenue grew 53.6% year over year. It earns a return on equity of 6.7%. The balance sheet holds a net cash position of 230M CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥3.92 (bear case) to ¥6.54 (bull case); at ¥44.71, 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 20% below its 52-week high and 193% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at −88%, 688378 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.1939 per share, which is 3.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Residual Income best evidence ¥5.00 ¥5.08 ¥4.84 76
EPV ¥2.69 ¥3.05 ¥3.37 74
ROIC Compounder ¥2.69 ¥3.05 ¥3.37 72
All 17 models by family
DCF Models
Owner Earnings ¥2.68 ¥5.42 ¥11.18 71
Earnings-Based
Graham-Dodd ¥2.09 ¥14.59 ¥20.47 63
Lynch FV ¥6.04 ¥8.63 ¥11.22 61
PEG = 1.0 ¥6.04 ¥8.63 ¥11.22 57
EPV ¥2.69 ¥3.05 ¥3.37 74
Dividend Discount
Gordon GGM ¥1.90 ¥3.94 ¥6.26 66
DDM Multi-Stage ¥1.90 ¥3.33 ¥4.14 67
Multiples
P/E Multiple ¥3.92 ¥5.23 ¥6.54 63
P/S Multiple ¥2.48 ¥3.31 ¥4.14 58
P/B Multiple ¥3.92 ¥5.23 ¥6.54 55
EV/EBIT ¥3.18 ¥4.06 ¥4.95 66
EV/EBITDA ¥4.83 ¥6.27 ¥7.70 67
EV/Revenue ¥2.83 ¥3.81 ¥4.80 54
Asset-Based
NCAV (Graham) ¥3.26 ¥4.37 ¥6.53 54
Economic Profit
Residual Income best evidence ¥5.00 ¥5.08 ¥4.84 76
ROIC Compounder ¥2.69 ¥3.05 ¥3.37 72
Growth Earnings
Growth-Adj P/E ¥7.00 ¥10.00 ¥13.00 67

Widest divergence: Growth Earnings (¥10.00) versus Economic Profit (¥3.05). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 91.2
P/S ratio 12.7 P/E × margin
EPS (TTM) ¥0.4900 price ÷ EPS = P/E 91.2
Dividend yield 0.4% payout 40.8%
Net margin 13.9% FY2025
Return on equity 6.7% TTM
More key figures
Profitability
Return on assets (EBIT) 4.9% avg 5y
Operating margin 31.0% TTM
Growth
Revenue (TTM) 659M CNY TTM
Revenue growth (YoY) +53.6% 3y avg +7.9%
EPS growth (YoY) +161%
Balance sheet & cash flow
Free cash flow −7.3M CNY FY2025
Net cash 230M CNY FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 57 · Market factors (momentum, volatility) 53

Profitability 36
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 2
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 76
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Jilin OLED Material Tech Co., Ltd., together with its subsidiaries, engages in the research and development, production, sale, and service of materials and equipment in the organic light-emitting diode (OLED) industry in China and internationally. It operates through OLED Key Functional Materials Business, and Steam Source Equipment Business segments.

Full company description

Jilin OLED Material Tech Co., Ltd., together with its subsidiaries, engages in the research and development, production, sale, and service of materials and equipment in the organic light-emitting diode (OLED) industry in China and internationally. It operates through OLED Key Functional Materials Business, and Steam Source Equipment Business segments. The company offers electronic functional materials; luminescent functional materials; OLED intermediate; and other functional materials. It also provides equipment, such as evaporation source equipment; microOLED evaporation machine; and Perovskite evaporation machine, as well as optoelectronic and special electronic materials. Jilin OLED Material Tech Co., Ltd. was founded in 2005 and is headquartered in Changchun, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jilin OLED Material Tech Co Ltd reported revenue of 577M CNY in FY2025 versus 406M CNY in FY2021, a compound +9.2%/yr. Reported net income was 80.4M CNY in FY2025, compounding −12.3%/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)
577M CNY
Latest YoY
+8.3%
Avg. revenue 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.
+7.9%
Avg. revenue 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.
+15.3%
Avg. revenue growth/yr (11Y) 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.
+36.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−10.3% (−10.7 + 0.4)
Revenue +9.2%/yr
FY21 406M CNY
FY22 459M CNY
FY23 517M CNY
FY24 533M CNY
FY25 577M CNY
Net income −12.3%/yr
FY21 136M CNY
FY22 113M CNY
FY23 122M CNY
FY24 90.4M CNY
FY25 80.4M CNY

688378 screens 755% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Jilin OLED Material Tech Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/688378

Peer Group

Specialty Chemicals · 713 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 60 · Above median
Fair Value upside −88% · Bottom 25%
Return on equity (TTM) 7% · Above median
Return on assets 1% · Below median
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 31% · Top 25%
Revenue growth 54% · Top 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 91.2× · Pricier than 75% of peers
P/B 6.32× · Pricier than 75% of peers
P/S (TTM) 16.36× · Pricier than 75% of peers
EV/EBITDA 77.4× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 19
PAST27 · sector 23
HEALTH97 · sector 95
DIVIDEND9 · sector 29

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

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10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 −74%
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Frequently asked questions

Is Jilin OLED Material Tech Co Ltd (688378) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥5.23 versus a price of ¥44.71, about −88% upside (overvalued).
What is the fair value of 688378?
Our model-based fair value for Jilin OLED Material Tech Co Ltd is ¥5.23 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥44.71.
What is the quality score of 688378?
Jilin OLED Material Tech Co Ltd has a Quality Score of 60/100. 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 Jilin OLED Material Tech Co Ltd (688378)?
Jilin OLED Material Tech Co Ltd reported trailing-twelve-month revenue of about 659M CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 688378?
The net profit margin of Jilin OLED Material Tech Co Ltd is about 19.3%, meaning it keeps roughly 19.3% of revenue as net income. Based on the latest reported figures.
Does Jilin OLED Material Tech Co Ltd pay a dividend?
Jilin OLED Material Tech Co Ltd currently shows a dividend yield of about 0.45% relative to its recent price (as of Aug 13, 2026).
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