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Maanshan Iron & Steel Company (MAANF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Maanshan Iron & Steel Company $0.42, price $0.21, upside +102.9%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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MI
Thin data
Sep 24, 2026
Thin data
Sep 24, 2026
Maanshan Iron & Steel Company
MAANF · USCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
✓Fair value $0.4200 · Strongly undervalued (+102.9%)
!Quality 50/100
!Weak Growth (revenue 5y −1.0 %/yr)
!Loss-making · 0.0% net margin (TTM)
✓Low debt · generates free cash flow
!Narrow moat 18/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
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 $0.0330 – $0.4858 · fair‑value band $0.4200 – $0.4500 · the $0.2070 price screens below the $0.4200 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Maanshan Iron & Steel Company Limited, together with its subsidiaries, manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally.
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Maanshan Iron & Steel Company Limited, together with its subsidiaries, manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally. It provides steel plates, including hot and cold-rolled thin plates, galvanized plates, coil-coating plates, and medium plates; section steel products, such as H-shaped steel and medium-shaped steel; high-speed wire rod and hot-rolled reinforcing steel products; and train wheels and wheel rims. The company also engages iron and steel smelting, steel rolling processing, Coke, coal tar, crude benzene, Ferric sulfate, and coke oven gas production sales, etc. It serves construction, automobile, bridge-building, machinery, petroleum transportation, home electrical appliances, and medium and high-grade production of automobile parts, and high-grade light industries; packaging and utensil manufacturing, steel structures, construction of petroleum drilling platforms and railways, production of robust materials, pre-stressing strand steel wires and spring steel wires; railway transport, port machinery, petrochemical, and aerospace industries. Maanshan Iron & Steel Company Limited was founded in 1953 and is headquartered in Maanshan, the People's Republic of China.
Stock analysis
Maanshan Iron & Steel Company (MAANF) currently trades at $0.2070, while our model-based Fair Value estimate is $0.4200, implying the stock looks roughly 50.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $0.7600 per share, and 14 of the 16 models we run sit above the $0.2070 price.
Bear case: the Dividend Discount group reads lowest at $0.1100, and 2 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.4200 (bear) to $0.4500 (bull), the price of $0.2070 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 50/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Maanshan Iron & Steel Company reported revenue of 77.5B CNY in FY2025 versus 114B CNY in FY2021, a compound −9.2%/yr. Reported net income was −203M CNY in FY2025.
Key figures
Market cap $1.6B · P/S ratio 0.02 · Net margin −0.3% · Return on equity 0.6% · Return on assets (EBIT) 0.6% · Operating margin 0.4% · Revenue (TTM) 75.8B CNY · Revenue growth (YoY) −8.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 42% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −44% fair-value upside, at 103%, MAANF screens cheaper than that median.
Fair Value models
Bear $0.4200
Fair Value $0.4200
Bull $0.4500
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
FCF DCF
$0.6400
$0.8500
$1.13
81
Growth DCF
$0.6400
$0.8300
$1.06
80
Owner Earnings
$0.5800
$0.7600
$1.01
78
All 16 models by family
DCF Models
FCF DCF
$0.6400
$0.8500
$1.13
81
Owner Earnings
$0.5800
$0.7600
$1.01
78
5Y Revenue Exit
$0.5200
$0.6800
$0.8800
74
5Y EBITDA Exit
$0.7900
$1.18
$1.64
75
10Y Revenue Exit
$0.5600
$0.7100
$0.9000
68
10Y EBITDA Exit
$0.7200
$1.03
$1.43
69
Earnings-Based
EPV
$0.3900
$0.4200
$0.4500
74
Dividend Discount
Gordon GGM
$0.0700
$0.1200
$0.1700
68
DDM Multi-Stage
$0.0700
$0.1100
$0.1300
67
Multiples
EV/EBIT
$0.4900
$0.6000
$0.7100
66
EV/EBITDA
$0.9800
$1.25
$1.52
67
EV/Revenue
$0.4500
$0.5700
$0.6900
54
Asset-Based
NCAV (Graham)
$0.2300
$0.3100
$0.4600
54
Growth DCF
Growth DCF
$0.6400
$0.8300
$1.06
80
Rev-Margin DCF
$0.5200
$0.6900
$0.8800
74
Economic Profit
ROIC Compounder
$0.3900
$0.4200
$0.4500
72
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Set up alert →Quality Score breakdown
Overall quality
50/100
Of which business quality 48 · Market factors (momentum, volatility) 19
Profitability
24
Margins and returns on capital today
Quality Growth
61
Are margins and returns improving?
Cashflow
29
Earnings quality: real cash, not paper profit
Fin. Strength
35
Balance sheet, leverage, solvency risk
Investment
99
Disciplined investing over empire-building
Low Volatility
34
Calm price path (market factor)
Momentum
16
Price trend over the last 3–12 months (market factor)
52W Momentum
7
Distance to the 52-week high (market factor)
Net Issuance
75
Share count: buybacks or dilution?
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.
20/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−5.2%
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.
−8.8%
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.
−1.0%
Start year 2020 (pandemic). Over 10 years: +5.6% a year
Revenue growth 35 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.
+10.3%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
4.8% (2020) → 2.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−10.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −11.8% a year for the price and −0.4% for the forecasts.
Forecast 2026 (sales)+3.5%
Forecast 2027 (sales)+0.5%
Projected 2028 (sales)+0.7%
Projected 2029 (sales)+0.9%
Projected 2030 (sales)+1.0%
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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.Steel · 402 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Steel median · lower = cheaper
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA 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 Steel stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $236.24 | $116.49 | −51% |
| ArcelorMittal S.A MT | €59.82 | €35.15 | −41% |
| Steel Dynamics, Inc STLD | $230.39 | $127.93 | −44% |
| JSW Steel Limited JSWSTEEL | ₹1,233 | ₹1,095 | −11% |
| Tata Steel Limited TATASTEEL | ₹178.00 | ₹147.10 | −17% |
| Reliance, Inc RS | $393.04 | $211.55 | −46% |
| Baoshan Iron & Steel Co 600019 | ¥5.84 | ¥8.07 | +38% |
| POSCO Holdings 005490 | 311,000 KRW | 155,270 KRW | −50% |
| Inner Mongolia Baotou Steel Union Co 600010 | ¥2.09 | ¥0.5300 | −75% |
| Jindal Steel Limited JINDALSTEL | ₹1,165 | ₹516.27 | −56% |
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Frequently asked questions
Is Maanshan Iron & Steel Company (MAANF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.4200 versus a price of $0.2070, about +103% upside (undervalued).
What is the fair value of MAANF?
Our model-based fair value for Maanshan Iron & Steel Company is $0.4200 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.2070.
What is the quality score of MAANF?
Maanshan Iron & Steel Company 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 price target for Maanshan Iron & Steel Company (MAANF)?
Our model-based price target is the fair value of $0.4200 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario $0.4200, optimistic scenario $0.4500. It is a calculation from audited fundamentals, not an analyst target.
What is the Maanshan Iron & Steel Company stock forecast for 2026?
Our models put fair value at $0.4200, about +103% upside versus a price of $0.2070 (undervalued). Cautious scenario $0.4200, optimistic scenario $0.4500. The calculation is refreshed regularly with new filings.
What is the revenue of Maanshan Iron & Steel Company (MAANF)?
Maanshan Iron & Steel Company reported trailing-twelve-month revenue of about 75.8B CNY (latest available figure, as of Sep 24, 2026).
What growth is priced into Maanshan Iron & Steel Company (MAANF)?
For today's price to be fair in a discounted-cash-flow model, Maanshan Iron & Steel Company would have to grow free cash flow by -10.3 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MAANF use?
Our models discount Maanshan Iron & Steel Company at 11.0 %: a base by market capitalisation (small), damped by beta 0.92, country premium for USA. 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 Maanshan Iron & Steel Company that is -10.3 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Maanshan Iron & Steel Company (MAANF) delivered so far?
Over the past 5 years revenue at Maanshan Iron & Steel Company grew -1.0 % a year. The price currently implies -10.3 % 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 Maanshan Iron & Steel Company (MAANF) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Maanshan Iron & Steel Company (-10.3 % 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 Maanshan Iron & Steel Company (MAANF)?
The free-cash-flow yield on the price is 20.33 %: that much free cash flow Maanshan Iron & Steel Company produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Maanshan Iron & Steel Company (MAANF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Maanshan Iron & Steel Company it is $0.4200 per share (as of Sep 24, 2026), against a price of $0.2070. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Maanshan Iron & Steel Company stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MAANF trades below its calculated fair value: price $0.2070, fair value $0.4200, a gap of about +103% (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 MAANF?
No. The price is what the market pays today ($0.2070); the fair value is what the company's own numbers justify ($0.4200). For Maanshan Iron & Steel Company the two are $0.2130 per share apart. That gap is exactly why we show both numbers side by side.
How much is Maanshan Iron & Steel Company worth?
The market values Maanshan Iron & Steel Company at about $1.6B (market capitalisation, as of Sep 24, 2026). Per share that is $0.2070; our models calculate a fair value of $0.4200 per share.
What do the bullish and bearish scenarios say about MAANF?
Our models span a range for Maanshan Iron & Steel Company: cautious scenario $0.4200, base $0.4200, optimistic $0.4500 per share (as of Sep 24, 2026, price $0.2070). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Maanshan Iron & Steel Company (MAANF)?
Balance-sheet figures for Maanshan Iron & Steel Company (as of Sep 24, 2026): return on equity 0.6%, debt of 0.13 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is MAANF from its 52-week high?
Maanshan Iron & Steel Company trades at $0.2070, about 42% below its 52-week high of $0.3580 and 13% above the low of $0.1830 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $0.4200 is for.
Which stocks are comparable to Maanshan Iron & Steel Company?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Maanshan Iron & Steel Company stock attractive at the current price?
The data as of Sep 24, 2026: price $0.2070, calculated fair value $0.4200 (+103%), Quality Score 50/100, from 16 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 MAANF calculated?
We run Maanshan Iron & Steel Company through 16 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 $0.4200, 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 14.5 % above its aggregate fair value. Maanshan Iron & Steel Company 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 Maanshan Iron & Steel Company (MAANF)?
The closing price on Oct 2, 2026 was $0.2070. Our model-based fair value is $0.4200, about +103% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Maanshan Iron & Steel Company right now?
The price is below even our cautious bear case ($0.4200). 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. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality. The models converge in a tight band ($0.4200 to $0.4500), unusually little disagreement for a valuation.
Key figures of Maanshan Iron & Steel Company
How large is the market capitalisation of Maanshan Iron & Steel Company (MAANF)?
The market capitalisation of Maanshan Iron & Steel Company is $1.6B. 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 Maanshan Iron & Steel Company (MAANF)?
The price-to-sales ratio of Maanshan Iron & Steel Company is 0.02 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Maanshan Iron & Steel Company (MAANF)?
The net margin of Maanshan Iron & Steel Company is −0.3% (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 Maanshan Iron & Steel Company (MAANF)?
The return on equity (ROE) of Maanshan Iron & Steel Company is 0.6% (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 Maanshan Iron & Steel Company (MAANF)?
On an EBIT basis the return on assets of Maanshan Iron & Steel Company is 0.6% (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 Maanshan Iron & Steel Company (MAANF)?
The operating margin of Maanshan Iron & Steel Company is 0.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Maanshan Iron & Steel Company (MAANF)?
Revenue at Maanshan Iron & Steel Company is growing −8.8% versus a year earlier (3y avg −8.8%). 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 Maanshan Iron & Steel Company (MAANF)?
Earnings per share at Maanshan Iron & Steel Company are growing −94.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Maanshan Iron & Steel Company (MAANF) carry?
The net debt of Maanshan Iron & Steel Company is 15.2B CNY (fiscal year 2025, ≈ 7.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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