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Shanghai Bailian Group Co Ltd B (900923) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Shanghai Bailian Group Co Ltd B $1.16, price $0.57, upside +102.4%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · CN · ISIN CNE000000FG2

SB Thin data Oct 3, 2026

Shanghai Bailian Group Co Ltd B

900923 · SHG

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

Fair value $1.16 · Strongly undervalued (+102.4%)
Low debt
Quality 44/100
Thin margins · 5.2% net margin (TTM)
Mixed vs. peers (6/12)
Weak Growth (revenue 5y −6.8 %/yr in CNY)
Negative free cash flow
Narrow moat 18/100
Thin data

What runs behind every stock

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

Price vs Fair Value

$0.9809 $0.3850 Fair Value $1.16 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range $0.3850 – $0.9809 · fair‑value band $0.8700 – $1.45 · the $0.5730 price screens below the $1.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Shanghai Bailian (Group) Co., Ltd. engages in retail business through department stores, supermarket chains, and specialty chains in China. The company was founded in 1993 and is based in Shanghai, China.

Stock analysis

Shanghai Bailian Group Co Ltd B (900923) currently trades at $0.5730, while our model-based Fair Value estimate is $1.16, implying the stock looks roughly 50.6% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $2.26 per share, and 8 of the 9 models we run sit above the $0.5730 price.

Bear case: the Earnings-Based group reads lowest at $0.4400, and 1 of the 9 models stay below the price. Evidence for this calculation is low.

Scenario range: $0.8700 (bear) to $1.45 (bull), the price of $0.5730 sits below 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 44/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Shanghai Bailian Group Co Ltd B reported revenue of 24.8B CNY in FY2025 versus 34.7B CNY in FY2021, a compound −8.0%/yr. Reported net income was 631M CNY in FY2025, compounding −4.3%/yr from FY2021.

Key figures

Market cap $1.0B · P/E ratio 5.7 · P/S ratio 0.15 · EPS (TTM) $0.1000 · Net margin 2.5% · Return on equity 4.2% · Return on assets (EBIT) 0.7% · Operating margin −3.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 19% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −6% fair-value upside, at 102%, 900923 screens cheaper than that median.

Fair Value models

Bear $0.8700 Fair Value $1.16 Bull $1.45
Price $0.5730 · Upside +102.4%
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. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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.
Highest evidence
Owner Earnings $1.90 $2.26 $2.87 78
Residual Income $1.18 $1.16 $1.16 76
Graham-Dodd $0.3600 $0.4400 $0.4900 67
All 9 models by family
DCF Models
Owner Earnings $1.90 $2.26 $2.87 78
Earnings-Based
Graham-Dodd $0.3600 $0.4400 $0.4900 67
Multiples
P/E Multiple $0.8700 $1.16 $1.45 63
P/S Multiple $0.6700 $0.9000 $1.12 58
P/B Multiple $0.6700 $0.9000 $1.12 55
EV/EBITDA $2.37 $2.91 $3.46 67
Asset-Based
NCAV (Graham) $0.8500 $1.14 $1.70 54
Economic Profit
Residual Income $1.18 $1.16 $1.16 76
Growth Earnings
Growth-Adj P/E $0.6100 $0.8800 $1.14 67

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Quality Score breakdown

Overall quality 44/100

Of which business quality 44 · Market factors (momentum, volatility) 58

Profitability 23
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−10.4%
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.
−8.4%
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.
−6.8%
Start year 2020 (pandemic). Over 10 years: −6.6% a year
Revenue growth 10 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.
−6.6%
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.
−4.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.6%
Dividend (yield on the price)0.0%
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.3% → 0%
⚠ Revenue per share shrinking 8.9%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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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.Department Stores · 109 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 44 · Bottom 25%
Fair Value upside +102.4% · Top 25%
Profitability
Return on equity (TTM) 4.2% · Below median
Return on assets −0.3% · Bottom 25%
Net margin (TTM) 5.2% · Above median
Operating margin (TTM) −3.3% · Bottom 25%
Growth and dividend
Revenue growth −9.3% · Bottom 25%
Dividend yield (TTM) 26.5% · Top 25%
Balance sheet
Debt / equity 0.08× · Below median

Valuation Multiplesvs Department Stores median · lower = cheaper

P/E (TTM) 5.7× · Cheapest 25%
P/B 0.34× · Cheapest 25%
P/S (TTM) 0.29× · Cheapest 25%
PEG 1.10× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 41
FUTURE (revenue growth)0 · sector 5
PAST (return on equity)17 · sector 20
HEALTH (low debt)96 · sector 96
DIVIDEND (yield)0 · sector 41

Context: sector, industry, market

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

Similar stocks

10 more Department Stores stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 6,450 CLP 6,080 CLP −6%
Dillard's, Inc DDS $664.07 $568.06 −14%
99 Speed Mart Retail Holdings 5326 3.20 MYR 1.52 MYR −53%
Macy's, Inc M $22.73 $43.20 +90%
Cencosud S.A CENCOSUD 1,990 CLP 1,955 CLP −2%
Central Retail Corporation CRC 30.00 THB 20.89 THB −30%
Vishal Mega Mart Limited VMM ₹103.50 ₹103.60 +0%
Ccoop Group 000564 ¥1.47 ¥0.4800 −67%
POYA International Co 5904 69.70 TWD 76.67 TWD +10%
SHINSEGAE Inc 004170 347,000 KRW 143,353 KRW −59%

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Cite: Fair Value Calculator (2026). "Shanghai Bailian Group Co Ltd B Fair Value". https://www.fairvalue-calculator.com/stock/900923

Frequently asked questions

Is Shanghai Bailian Group Co Ltd B (900923) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $1.16 versus a price of $0.5730, about +102% upside (undervalued).
What is the fair value of 900923?
Our model-based fair value for Shanghai Bailian Group Co Ltd B is $1.16 (as of Oct 3, 2026), built from audited fundamentals. The current price: $0.5730.
What is the quality score of 900923?
Shanghai Bailian Group Co Ltd B has a Quality Score of 44/100. 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 Shanghai Bailian Group Co Ltd B (900923)?
Our model-based price target is the fair value of $1.16 (as of Oct 3, 2026) from 9 valuation models. Cautious scenario $0.8700, optimistic scenario $1.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai Bailian Group Co Ltd B stock forecast for 2026?
Our models put fair value at $1.16, about +102% upside versus a price of $0.5730 (undervalued). Cautious scenario $0.8700, optimistic scenario $1.45. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai Bailian Group Co Ltd B (900923)?
Shanghai Bailian Group Co Ltd B reported trailing-twelve-month revenue of about 23.6B CNY (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of Shanghai Bailian Group Co Ltd B (900923)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai Bailian Group Co Ltd B it is $1.16 per share (as of Oct 3, 2026), against a price of $0.5730. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Shanghai Bailian Group Co Ltd B stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 900923 trades below its calculated fair value: price $0.5730, fair value $1.16, a gap of about +102% (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 900923?
No. The price is what the market pays today ($0.5730); the fair value is what the company's own numbers justify ($1.16). For Shanghai Bailian Group Co Ltd B the two are $0.5870 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai Bailian Group Co Ltd B worth?
The market values Shanghai Bailian Group Co Ltd B at about $1.0B (market capitalisation, as of Oct 3, 2026). Per share that is $0.5730; our models calculate a fair value of $1.16 per share.
What do the bullish and bearish scenarios say about 900923?
Our models span a range for Shanghai Bailian Group Co Ltd B: cautious scenario $0.8700, base $1.16, optimistic $1.45 per share (as of Oct 3, 2026, price $0.5730). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 900923?
Shanghai Bailian Group Co Ltd B trades at a price-to-earnings ratio of 5.7 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $1.16 is built from several models across several years. Other multiples: PEG 1.1, P/B 0.3, P/S 0.3.
What is the PEG ratio of 900923?
The PEG ratio of Shanghai Bailian Group Co Ltd B is 1.10 (P/E divided by earnings growth, as of Oct 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Shanghai Bailian Group Co Ltd B (900923)?
Balance-sheet figures for Shanghai Bailian Group Co Ltd B (as of Oct 3, 2026): return on equity 4.2%, debt of 0.08 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 900923 from its 52-week high?
Shanghai Bailian Group Co Ltd B trades at $0.5730, about 6% below its 52-week high of $0.6110 and 19% above the low of $0.4810 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of $1.16 is for.
Which stocks are comparable to Shanghai Bailian Group Co Ltd B?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Macy's, Inc, 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 Shanghai Bailian Group Co Ltd B stock attractive at the current price?
The data as of Oct 3, 2026: price $0.5730, calculated fair value $1.16 (+102%), Quality Score 44/100, from 9 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 900923 calculated?
We run Shanghai Bailian Group Co Ltd B through 9 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 $1.16, 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 15.0 % above its aggregate fair value. Shanghai Bailian Group Co Ltd B currently trades 51 % 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 Shanghai Bailian Group Co Ltd B (900923)?
The closing price on Sep 30, 2026 was $0.5730. Our model-based fair value is $1.16, about +102% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shanghai Bailian Group Co Ltd B right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($0.8700). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Shanghai Bailian Group Co Ltd B

How large is the market capitalisation of Shanghai Bailian Group Co Ltd B (900923)?
The market capitalisation of Shanghai Bailian Group Co Ltd B is $1.0B. 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 Shanghai Bailian Group Co Ltd B (900923)?
The price-to-sales ratio of Shanghai Bailian Group Co Ltd B is 0.15 (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 Shanghai Bailian Group Co Ltd B (900923)?
Earnings per share at Shanghai Bailian Group Co Ltd B are $0.1000 (price ÷ EPS = P/E 5.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Shanghai Bailian Group Co Ltd B (900923)?
The net margin of Shanghai Bailian Group Co Ltd B is 2.5% (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 Shanghai Bailian Group Co Ltd B (900923)?
The return on equity (ROE) of Shanghai Bailian Group Co Ltd B is 4.2% (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 Shanghai Bailian Group Co Ltd B (900923)?
On an EBIT basis the return on assets of Shanghai Bailian Group Co Ltd B is 0.7% (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 Shanghai Bailian Group Co Ltd B (900923)?
The operating margin of Shanghai Bailian Group Co Ltd B is −3.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shanghai Bailian Group Co Ltd B (900923)?
Revenue at Shanghai Bailian Group Co Ltd B is growing −9.3% versus a year earlier (3y avg −8.4%). 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 Shanghai Bailian Group Co Ltd B (900923)?
Earnings per share at Shanghai Bailian Group Co Ltd B are growing +0.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shanghai Bailian Group Co Ltd B (900923) generate?
The free cash flow of Shanghai Bailian Group Co Ltd B is −501M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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