China Railway Construction Heavy Industry Corp Ltd (688425) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of China Railway Construction Heavy Industry Corp Ltd ¥4.46, price ¥3.96, upside +12.6%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ¥3.24 – ¥7.46 · fair‑value band ¥3.06 – ¥5.88 · the ¥3.96 price screens below the ¥4.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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China Railway Construction Heavy Industry Corporation Limited engages in the research, design, development, manufacturing, leasing, sale, and servicing of tunnel boring machines, rail transit equipment, and specialized equipment in China and internationally.
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China Railway Construction Heavy Industry Corporation Limited engages in the research, design, development, manufacturing, leasing, sale, and servicing of tunnel boring machines, rail transit equipment, and specialized equipment in China and internationally. The company offers tunnel boring machines, drilling and blasting construction equipment, rail track and transit systems, agricultural machines, green building materials construction equipment, new construction materials, and mine construction equipment. China Railway Construction Heavy Industry Corporation Limited was founded in 2006 and is headquartered in Changsha, China. The company operates as a subsidiary of China Railway Construction Corporation Limited.
Stock analysis
China Railway Construction Heavy Industry Corp Ltd (688425) currently trades at ¥3.96, while our model-based Fair Value estimate is ¥4.46, implying the stock looks roughly 11.2% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥4.73 per share, and 10 of the 24 models we run sit above the ¥3.96 price.
Bear case: the Dividend Discount group reads lowest at ¥1.10, and 14 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥3.06 (bear) to ¥5.88 (bull), the price of ¥3.96 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
China Railway Construction Heavy Industry Corp Ltd reported revenue of 10.0B CNY in FY2025 versus 9.5B CNY in FY2021, a compound +1.4%/yr. Reported net income was 1.5B CNY in FY2025, compounding −3.9%/yr from FY2021.
Key figures
Market cap 21.0B CNY (≈ $3.1B) · P/E ratio 14.7 · P/S ratio 2.17 · EPS (TTM) ¥0.2700 · Dividend yield 2.1% · Net margin 14.8% · Return on equity 7.6% · Return on assets (EBIT) 7.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at 13%, 688425 screens cheaper than that median.
Fair Value models
Bear ¥3.06Fair Value ¥4.46Bull ¥5.88
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.1361 per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−4.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.9%
Dividend (yield on the price)2.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 17%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +5.0% a year for the price.
Compare China Railway Construction Heavy Industry Corp Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Specialty Industrial Machinery · 826 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+14% · Top 25%
Profitability
Return on equity (TTM)8% · Above median
Return on assets3% · Above median
Net margin (TTM)14% · Top 25%
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth−7% · Below median
Dividend yield (TTM)2.1% · Above median
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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Cite: Fair Value Calculator (2026). "China Railway Construction Heavy Industry Corp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/688425
Frequently asked questions
Is China Railway Construction Heavy Industry Corp Ltd (688425) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥4.46 versus a price of ¥3.96, about +13% upside (undervalued).
What is the fair value of 688425?
Our model-based fair value for China Railway Construction Heavy Industry Corp Ltd is ¥4.46 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥3.96.
What is the quality score of 688425?
China Railway Construction Heavy Industry Corp Ltd has a Quality Score of 64/100. 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 price target for China Railway Construction Heavy Industry Corp Ltd (688425)?
Our model-based price target is the fair value of ¥4.46 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ¥3.06, optimistic scenario ¥5.88. It is a calculation from audited fundamentals, not an analyst target.
What is the China Railway Construction Heavy Industry Corp Ltd stock forecast for 2026?
Our models put fair value at ¥4.46, about +13% upside versus a price of ¥3.96 (undervalued). Cautious scenario ¥3.06, optimistic scenario ¥5.88. The calculation is refreshed regularly with new filings.
What is the revenue of China Railway Construction Heavy Industry Corp Ltd (688425)?
China Railway Construction Heavy Industry Corp Ltd reported trailing-twelve-month revenue of about 9.9B CNY (latest available figure, as of Sep 24, 2026).
Does China Railway Construction Heavy Industry Corp Ltd pay a dividend?
China Railway Construction Heavy Industry Corp Ltd currently shows a dividend yield of about 2.12% relative to its recent price (as of Sep 24, 2026).
What growth is priced into China Railway Construction Heavy Industry Corp Ltd (688425)?
For today's price to be fair in a discounted-cash-flow model, China Railway Construction Heavy Industry Corp Ltd would have to grow free cash flow by +6.8 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 688425 use?
Our models discount China Railway Construction Heavy Industry Corp Ltd at 9.1 %: a base by market capitalisation (mid), damped by beta 0.18, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For China Railway Construction Heavy Industry Corp Ltd that is +6.8 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has China Railway Construction Heavy Industry Corp Ltd (688425) delivered so far?
Over the past 5 years revenue at China Railway Construction Heavy Industry Corp Ltd grew +5.7 % a year. The price currently implies +6.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of China Railway Construction Heavy Industry Corp Ltd (688425) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into China Railway Construction Heavy Industry Corp Ltd (+6.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of China Railway Construction Heavy Industry Corp Ltd (688425)?
The free-cash-flow yield on the price is 4.85 %: that much free cash flow China Railway Construction Heavy Industry Corp Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of China Railway Construction Heavy Industry Corp Ltd (688425)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Railway Construction Heavy Industry Corp Ltd it is ¥4.46 per share (as of Sep 24, 2026), against a price of ¥3.96. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is China Railway Construction Heavy Industry Corp Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 688425 trades below its calculated fair value: price ¥3.96, fair value ¥4.46, a gap of about +13% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688425?
No. The price is what the market pays today (¥3.96); the fair value is what the company's own numbers justify (¥4.46). For China Railway Construction Heavy Industry Corp Ltd the two are ¥0.5000 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Railway Construction Heavy Industry Corp Ltd worth?
The market values China Railway Construction Heavy Industry Corp Ltd at about 21.0B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥3.96; our models calculate a fair value of ¥4.46 per share.
What do the bullish and bearish scenarios say about 688425?
Our models span a range for China Railway Construction Heavy Industry Corp Ltd: cautious scenario ¥3.06, base ¥4.46, optimistic ¥5.88 per share (as of Sep 24, 2026, price ¥3.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688425?
China Railway Construction Heavy Industry Corp Ltd trades at a price-to-earnings ratio of 14.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥4.46 is built from several models across several years. Other multiples: P/B 1.1, P/S 2.1, EV/EBITDA 8.5.
How solid is the balance sheet of China Railway Construction Heavy Industry Corp Ltd (688425)?
Balance-sheet figures for China Railway Construction Heavy Industry Corp Ltd (as of Sep 24, 2026): return on equity 7.6%, debt of 0.02 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 688425 from its 52-week high?
China Railway Construction Heavy Industry Corp Ltd trades at ¥3.96, about 30% below its 52-week high of ¥5.64 and 1% above the low of ¥3.94 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥4.46 is for.
Which stocks are comparable to China Railway Construction Heavy Industry Corp Ltd?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Railway Construction Heavy Industry Corp Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price ¥3.96, calculated fair value ¥4.46 (+13%), Quality Score 64/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688425 calculated?
We run China Railway Construction Heavy Industry Corp Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥4.46, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. China Railway Construction Heavy Industry Corp Ltd currently trades 13 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of China Railway Construction Heavy Industry Corp Ltd (688425)?
The closing price on Sep 23, 2026 was ¥3.96. Our model-based fair value is ¥4.46, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Railway Construction Heavy Industry Corp Ltd right now?
A fairly wide model range (¥3.06 to ¥5.88) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of China Railway Construction Heavy Industry Corp Ltd
How large is the market capitalisation of China Railway Construction Heavy Industry Corp Ltd (688425)?
The market capitalisation of China Railway Construction Heavy Industry Corp Ltd is 21.0B CNY (≈ $3.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of China Railway Construction Heavy Industry Corp Ltd (688425)?
The price-to-sales ratio of China Railway Construction Heavy Industry Corp Ltd is 2.17 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of China Railway Construction Heavy Industry Corp Ltd (688425)?
Earnings per share at China Railway Construction Heavy Industry Corp Ltd are ¥0.2700 (price ÷ EPS = P/E 14.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of China Railway Construction Heavy Industry Corp Ltd (688425)?
The dividend yield of China Railway Construction Heavy Industry Corp Ltd is 2.1% (payout 31.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of China Railway Construction Heavy Industry Corp Ltd (688425)?
The net margin of China Railway Construction Heavy Industry Corp Ltd is 14.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Railway Construction Heavy Industry Corp Ltd (688425)?
The return on equity (ROE) of China Railway Construction Heavy Industry Corp Ltd is 7.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of China Railway Construction Heavy Industry Corp Ltd (688425)?
On an EBIT basis the return on assets of China Railway Construction Heavy Industry Corp Ltd is 7.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of China Railway Construction Heavy Industry Corp Ltd (688425)?
The operating margin of China Railway Construction Heavy Industry Corp Ltd is 11.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Railway Construction Heavy Industry Corp Ltd (688425)?
Revenue at China Railway Construction Heavy Industry Corp Ltd is growing −7.1% versus a year earlier (3y avg −0.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at China Railway Construction Heavy Industry Corp Ltd (688425)?
Earnings per share at China Railway Construction Heavy Industry Corp Ltd are growing −16.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does China Railway Construction Heavy Industry Corp Ltd (688425) hold?
China Railway Construction Heavy Industry Corp Ltd holds more cash than debt, 1.1B CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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