Beijing Beimo High-tech Frictional Material Co.,Ltd

SZSE:002985 Stock Report

Market Cap: CN¥7.9b

Beijing Beimo High-tech Frictional MaterialLtd Valuation

Is 002985 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 002985 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002985 (CN¥23.88) is trading above our estimate of fair value (CN¥1.05)

Significantly Below Fair Value: 002985 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 002985?

Key metric: As 002985 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 002985. This is calculated by dividing 002985's market cap by their current revenue.
What is 002985's PS Ratio?
PS Ratio12.1x
SalesCN¥654.80m
Market CapCN¥7.92b

Price to Sales Ratio vs Peers

How does 002985's PS Ratio compare to its peers?

The above table shows the PS ratio for 002985 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average13x
300397 Xi'an Tianhe Defense Technology
18.4xn/aCN¥6.7b
688552 Aerospace Nanhu Electronic Information Technology
23x49.7%CN¥7.0b
002413 Beijing LeiKe Defense Technology
5.4x21.9%CN¥6.4b
601606 Anhui Great Wall Military Industry
5.5xn/aCN¥9.0b
002985 Beijing Beimo High-tech Frictional MaterialLtd
12.1x33.4%CN¥7.9b

Price-To-Sales vs Peers: 002985 is good value based on its Price-To-Sales Ratio (12.1x) compared to the peer average (13x).

Price to Sales Ratio vs Industry

How does 002985's PS Ratio compare vs other companies in the CN Aerospace & Defense Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
600038 Avicopter
1.5x21.6%US$4.62b
No more companies available in this PS range
002985 12.1xIndustry Avg. 9.4xNo. of Companies8PS0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 002985 is expensive based on its Price-To-Sales Ratio (12.1x) compared to the CN Aerospace & Defense industry average (9.4x).

Price to Sales Ratio vs Fair Ratio

What is 002985'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.

002985 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio12.1x
Fair PS Ratio7.4x

Price-To-Sales vs Fair Ratio: 002985 is expensive based on its Price-To-Sales Ratio (12.1x) compared to the estimated Fair Price-To-Sales Ratio (7.4x).

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 002985 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥23.88
CN¥25.23
+5.7%
7.0%CN¥27.00CN¥23.46n/a2
Nov ’25CN¥23.23
CN¥25.23
+8.6%
7.0%CN¥27.00CN¥23.46n/a2
Oct ’25CN¥22.11
CN¥25.23
+14.1%
7.0%CN¥27.00CN¥23.46n/a2
Sep ’25CN¥18.45
CN¥25.23
+36.7%
7.0%CN¥27.00CN¥23.46n/a2
Aug ’25CN¥21.46
CN¥30.96
+44.3%
12.8%CN¥34.92CN¥27.00n/a2
Jan ’25CN¥34.68
CN¥57.70
+66.4%
11.6%CN¥64.39CN¥51.00n/a2
Dec ’24CN¥36.90
CN¥57.70
+56.4%
11.6%CN¥64.39CN¥51.00n/a2
Nov ’24CN¥34.62
CN¥57.70
+66.7%
11.6%CN¥64.39CN¥51.00CN¥23.232
Oct ’24CN¥37.40
CN¥57.70
+54.3%
11.6%CN¥64.39CN¥51.00CN¥22.112
Sep ’24CN¥37.70
CN¥57.70
+53.0%
11.6%CN¥64.39CN¥51.00CN¥18.452
Aug ’24CN¥39.70
CN¥57.70
+45.3%
11.6%CN¥64.39CN¥51.00CN¥21.462
Jul ’24CN¥44.12
CN¥53.15
+20.5%
4.0%CN¥55.30CN¥51.00CN¥22.042

Analyst Forecast: Target price is less than 20% higher than the current share price.

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