Xiangyang Automobile Bearing Valuation

Q: What is the Fair Price of 000678 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

000678 (CN¥5.82) is trading below our estimate of [[fair value]] (CN¥17.57)

Is 000678 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 000678 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 000678 (CN¥5.82) is trading below our estimate of fair value (CN¥17.57)

Significantly Below Fair Value: 000678 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 000678?

Key metric: As 000678 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 000678. This is calculated by dividing 000678's market cap by their current revenue.
What is 000678's PS Ratio?
PS Ratio	2.1x
Sales	CN¥1.30b
Market Cap	CN¥2.67b

000678 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.4x
Enterprise Value/EBITDA	56.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 000678's PS Ratio compare to its peers?

The above table shows the PS ratio for 000678 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.2x
603586 Shandong Gold PhoenixLtd	1.7x	n/a	CN¥2.7b
300652 Hang Zhou Radical Energy-Saving Technology	3.8x	n/a	CN¥2.7b
002213 Shenzhen Dawei Innovation Technology	2.6x	n/a	CN¥2.7b
002863 Zhejiang Jinfei Kaida WheelLtd	0.6x	n/a	CN¥2.7b
000678 Xiangyang Automobile Bearing	2.1x	n/a	CN¥2.7b

Price-To-Sales vs Peers: 000678 is good value based on its Price-To-Sales Ratio (2.1x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does 000678's PS Ratio compare vs other companies in the CN Auto Components Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap
300742 Nanjing Yueboo Power System	0.1x	n/a	US$3.50m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 000678 is good value based on its Price-To-Sales Ratio (2.1x) compared to the CN Auto Components industry average (2.3x).

Price to Sales Ratio vs Fair Ratio

What is 000678's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

000678 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.1x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 000678's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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