Bethel Automotive Safety Systems Co., Ltd

SHSE:603596 Stock Report

Market Cap: CN¥27.6b

Bethel Automotive Safety Systems Valuation

Is 603596 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 603596 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 603596 (CN¥45.48) is trading below our estimate of fair value (CN¥262.36)

Significantly Below Fair Value: 603596 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 603596?

Key metric: As 603596 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 603596. This is calculated by dividing 603596's market cap by their current earnings.
What is 603596's PE Ratio?
PE Ratio25.7x
EarningsCN¥1.07b
Market CapCN¥27.59b

Price to Earnings Ratio vs Peers

How does 603596's PE Ratio compare to its peers?

The above table shows the PE ratio for 603596 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.9x
002850 Shenzhen Kedali Industry
19.9x16.4%CN¥28.3b
603179 Jiangsu Xinquan Automotive TrimLtd
25.1x28.4%CN¥23.3b
603786 KEBODA TECHNOLOGY
30x26.3%CN¥22.8b
002472 Zhejiang Shuanghuan DrivelineLtd
24.6x19.9%CN¥23.7b
603596 Bethel Automotive Safety Systems
25.7x25.4%CN¥27.6b

Price-To-Earnings vs Peers: 603596 is expensive based on its Price-To-Earnings Ratio (25.7x) compared to the peer average (24.9x).

Price to Earnings Ratio vs Industry

How does 603596's PE Ratio compare vs other companies in the CN Auto Components Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
002684 Dynavolt Renewable Energy Technology (Henan)
0.6xn/aUS$58.50m
No more companies available in this PE range
603596 25.7xIndustry Avg. 30.1xNo. of Companies26PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 603596 is good value based on its Price-To-Earnings Ratio (25.7x) compared to the CN Auto Components industry average (30.1x).

Price to Earnings Ratio vs Fair Ratio

What is 603596's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

603596 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.7x
Fair PE Ratio22.7x

Price-To-Earnings vs Fair Ratio: 603596 is expensive based on its Price-To-Earnings Ratio (25.7x) compared to the estimated Fair Price-To-Earnings Ratio (22.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 603596 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥45.48
CN¥61.94
+36.2%
6.9%CN¥67.00CN¥56.03n/a5
Nov ’25CN¥47.23
CN¥61.94
+31.1%
6.9%CN¥67.00CN¥56.03n/a5
Oct ’25CN¥48.92
CN¥52.39
+7.1%
10.2%CN¥60.85CN¥45.12n/a5
Sep ’25CN¥37.20
CN¥51.57
+38.6%
9.8%CN¥58.57CN¥45.12n/a4
Aug ’25CN¥40.55
CN¥59.49
+46.7%
14.5%CN¥75.71CN¥51.00n/a5
Jul ’25CN¥38.50
CN¥59.46
+54.4%
13.2%CN¥75.71CN¥51.00n/a6
Jun ’25CN¥35.87
CN¥59.46
+65.8%
13.2%CN¥75.71CN¥51.00n/a6
May ’25CN¥41.09
CN¥60.22
+46.5%
13.0%CN¥75.71CN¥51.43n/a6
Apr ’25CN¥40.06
CN¥63.67
+59.0%
13.6%CN¥75.71CN¥51.43n/a6
Mar ’25CN¥44.23
CN¥65.67
+48.5%
12.7%CN¥75.71CN¥51.88n/a6
Feb ’25CN¥37.58
CN¥65.67
+74.8%
12.7%CN¥75.71CN¥51.88n/a6
Jan ’25CN¥49.50
CN¥68.50
+38.4%
10.0%CN¥76.43CN¥59.29n/a5
Dec ’24CN¥56.39
CN¥68.48
+21.4%
11.2%CN¥76.43CN¥59.29n/a4
Nov ’24CN¥53.71
CN¥68.66
+27.8%
10.9%CN¥76.43CN¥60.00CN¥47.234
Oct ’24CN¥52.50
CN¥68.28
+30.1%
11.3%CN¥76.05CN¥58.21CN¥48.925
Sep ’24CN¥54.15
CN¥67.14
+24.0%
11.3%CN¥76.05CN¥58.21CN¥37.205
Aug ’24CN¥62.66
CN¥65.80
+5.0%
12.3%CN¥76.43CN¥56.43CN¥40.556
Jul ’24CN¥56.61
CN¥65.80
+16.2%
12.3%CN¥76.43CN¥56.43CN¥38.506
Jun ’24CN¥47.89
CN¥65.80
+37.4%
12.3%CN¥76.43CN¥56.43CN¥35.876
May ’24CN¥45.75
CN¥67.55
+47.6%
14.7%CN¥80.00CN¥56.43CN¥41.096
Apr ’24CN¥50.87
CN¥69.36
+36.3%
14.3%CN¥80.00CN¥56.43CN¥40.065
Mar ’24CN¥51.67
CN¥77.05
+49.1%
2.2%CN¥80.00CN¥75.71CN¥44.234
Feb ’24CN¥61.21
CN¥77.05
+25.9%
2.2%CN¥80.00CN¥75.71CN¥37.584
Jan ’24CN¥57.00
CN¥77.26
+35.5%
2.5%CN¥80.00CN¥75.71CN¥49.503
Dec ’23CN¥60.61
CN¥74.16
+22.3%
3.3%CN¥76.07CN¥70.69CN¥56.393
Nov ’23CN¥62.12
CN¥74.16
+19.4%
3.3%CN¥76.07CN¥70.69CN¥53.713

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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