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ZHENENG JINJIANG ENV HLDG CO (BWM) Fair Value & Analysis

Utilities · SG · Market cap 846M SGD

ZJ ZHENENG JINJIANG ENV HLDG CO BWM · SG
Price0.5600 SGD
Fair Value0.9049 SGD
Upside+61.6%
Quality50/100
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Expensive Growth
Solidly profitable · 19.2% net margin
Moderate debt · generates free cash flow
Ranks above peers (9/11)
Moderate moat 63/100
Evidence: High Range 0.6328 SGD – 1.18 SGD Share as image

Fair value as of: Aug 13, 2026

From 20 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 1.43 SGD to 0.9049 SGD (−36.7%) since Aug 9, 2026. Share price −5.1% over the past month.

A solid business, screening 62% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (0.6328 SGD). The market is more pessimistic than our downside scenario.
  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (0.6328 SGD to 1.18 SGD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

0.6327 SGD 0.1566 SGD Fair Value 0.9049 SGD May 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 0.1566 SGD – 0.6327 SGD · fair‑value band 0.6328 SGD – 1.18 SGD · the 0.5600 SGD price screens below the 0.9049 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

ZHENENG JINJIANG ENV HLDG CO (BWM) currently trades at 0.5600 SGD, while our model-based Fair Value estimate is 0.9049 SGD, implying the stock looks roughly 61.6% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, ZHENENG JINJIANG ENV HLDG CO generated revenue of 3.8B SGD at a net margin of 19.2%. Revenue grew 2.3% year over year. It earns a return on equity of 9.3%. Net debt stands at 11.7B SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.6328 SGD (bear case) to 1.18 SGD (bull case); at 0.5600 SGD, the current price sits below 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 11% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -36% fair-value upside, at 62%, BWM 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 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 4.53 SGD 4.83 SGD 5.32 SGD 76
Rev-Margin DCF 1.99 SGD 74
ROIC Compounder 1.48 SGD 2.36 SGD 3.09 SGD 72
All 20 models by family
DCF Models
5Y Revenue Exit 2.44 SGD 39
5Y EBITDA Exit 0.9900 SGD 5.49 SGD 10.61 SGD 41
5Y P/E Exit 1.61 SGD 4.43 SGD 38
10Y Revenue Exit 0.3400 SGD 36
10Y EBITDA Exit 1.84 SGD 5.81 SGD 37
10Y P/E Exit 1.67 SGD 35
Earnings-Based
Graham-Dodd 3.44 SGD 8.43 SGD 10.91 SGD 54
PEG = 1.0 1.51 SGD 2.16 SGD 2.81 SGD 46
EPV 1.48 SGD 2.36 SGD 3.09 SGD 59
Multiples
P/E Multiple 6.82 SGD 9.10 SGD 11.37 SGD 63
P/S Multiple 4.95 SGD 6.60 SGD 8.25 SGD 58
P/B Multiple 6.44 SGD 8.59 SGD 10.74 SGD 55
EV/EBIT 5.21 SGD 8.60 SGD 12.00 SGD 53
EV/EBITDA 6.08 SGD 9.77 SGD 13.45 SGD 54
EV/Revenue 1.62 SGD 3.60 SGD 43
Asset-Based
NCAV (Graham) 2.82 SGD 3.78 SGD 5.64 SGD 50
Growth DCF
Rev-Margin DCF 1.99 SGD 74
Economic Profit
Residual Income 4.53 SGD 4.83 SGD 5.32 SGD 76
ROIC Compounder 1.48 SGD 2.36 SGD 3.09 SGD 72
Growth Earnings
Growth-Adj P/E 5.29 SGD 7.56 SGD 9.83 SGD 68

Widest divergence: Multiples (8.59 SGD) versus DCF Models (1.84 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 3.8B SGD
Revenue growth (YoY) +2.3%
Net margin 19.2%
Return on equity 9.3%
Free cash flow 117M SGD FY2025
P/E ratio 5.6
More key figures
Operating margin 28.6%
EPS (TTM) 0.1000 SGD
EPS growth (YoY) -3.7%
Net debt 11.7B SGD FY2025

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

Quality Score breakdown

Overall quality 50/100

Of which business quality 46 · Market factors (momentum, volatility) 70

Profitability 33
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 19
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 88
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

Zheneng Jinjiang Environment Holding Company Limited engages in the generation and sale of electricity and steam in the People's Republic of China. The company operates through Waste-To-Energy Project Construction and Operation; and Project Technical and Management Service, Equipment Selection and Sale, and EMC Business segments.

Full company description

Zheneng Jinjiang Environment Holding Company Limited engages in the generation and sale of electricity and steam in the People's Republic of China. The company operates through Waste-To-Energy Project Construction and Operation; and Project Technical and Management Service, Equipment Selection and Sale, and EMC Business segments. It is involved in the operation of waste-to-energy plants; project management, technical consulting, and advisory services and energy management, as well as contracting business; and construction services under service concession arrangement. As of December 31, 2023, it operated 28 waste-to-energy facilities, 5 kitchen waste treatment facilities, and 8 waste resource recycling facilities in the People's Republic of China with a total installed waste treatment capacity of 57,455 tons/day; and a total installed capacity of 1,201 MW. The company was formerly known as China Jinjiang Environment Holding Company Limited and changed its name to Zheneng Jinjiang Environment Holding Company Limited in November 2019. Zheneng Jinjiang Environment Holding Company Limited was founded in 1998 and is based in Hangzhou, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ZHENENG JINJIANG ENV HLDG CO reported revenue of 3.8B SGD in FY2025 versus 4.1B SGD in FY2021, a compound −1.7%/yr. Reported net income was 725M SGD in FY2025, compounding +13.4%/yr from FY2021.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
3.8B SGD
Latest YoY
+1.4%
Avg. 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.
−2.4%
Avg. 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.
+4.2%
Avg. growth/yr (12Y) 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.
+9.5%
Revenue −1.7%/yr
FY21 4.1B SGD
FY22 4.1B SGD
FY23 3.8B SGD
FY24 3.7B SGD
FY25 3.8B SGD
Net income +13.4%/yr
FY21 438M SGD
FY22 325M SGD
FY23 282M SGD
FY24 618M SGD
FY25 725M SGD

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Cite: Fair Value Calculator (2026). "ZHENENG JINJIANG ENV HLDG CO Fair Value". https://www.fairvalue-calculator.com/stock/BWM

Peer Group

Utilities - Renewable · 220 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 50 · Above median
Fair Value upside +62% · Top 25%
Return on equity (TTM) 9% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 29% · Above median
Revenue growth 2% · Above median
Dividend yield (TTM) 21.6% · Top 25%
Debt / equity 0.95× · Higher than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 5.6× · Cheaper than 75% of peers
P/FCF 5.7× · Pricier 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 100 · sector 9
FUTURE 12 · sector 0
PAST 37 · sector 11
HEALTH 53 · sector 68
DIVIDEND 100 · sector 48

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 Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥28.02 ¥25.13 -10%
Ørsted A/S ORSTED kr 148.25 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.69 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,319 ₹169.61 -87%
AXIA Energia SA AXIAP $10.74 $9.54 -11%
BEP BEP $34.23 $70.40 +106%
BEPUN BEPUN C$44.56 C$10.15 -77%
China Longyuan Power Group 001289 ¥15.92 ¥7.55 -53%
SDIC Power Holdings 600886 ¥13.95 ¥16.63 +19%
China Three Gorges Renewables (Group) Co 600905 ¥3.77 ¥2.40 -36%

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Frequently asked questions

Is ZHENENG JINJIANG ENV HLDG CO (BWM) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.9049 SGD versus a price of 0.5600 SGD, about +62% (undervalued).
What is the fair value of BWM?
Our model-based fair value for ZHENENG JINJIANG ENV HLDG CO is 0.9049 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 0.5600 SGD.
What is the quality score of BWM?
ZHENENG JINJIANG ENV HLDG CO has a Quality Score of 50/100. 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 ZHENENG JINJIANG ENV HLDG CO (BWM)?
ZHENENG JINJIANG ENV HLDG CO reported trailing-twelve-month revenue of about 3.8B SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of BWM?
The net profit margin of ZHENENG JINJIANG ENV HLDG CO is about 19.2%, meaning it keeps roughly 19.2% of revenue as net income. Based on the latest reported figures.

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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