North Navigation Control TechnologyLtd Valuation

Is 600435 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

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 600435 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600435 (CN¥10.65) is trading above our estimate of fair value (CN¥0.9)

Significantly Below Fair Value: 600435 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600435?

Key metric: As 600435 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 600435. This is calculated by dividing 600435's market cap by their current revenue.
What is 600435's PS Ratio?
PS Ratio	8.2x
Sales	CN¥1.96b
Market Cap	CN¥16.00b

600435 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	8.1x
Enterprise Value/EBITDA	-638.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 600435's PS Ratio compare to its peers?

The above table shows the PS ratio for 600435 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	5.1x
301200 Shenzhen Han's CNC Technology	5.3x	26.9%	CN¥15.0b
300083 Guangdong Create Century Intelligent Equipment Group	3x	22.0%	CN¥12.0b
000410 Shenyang Machine Tool	10.8x	n/a	CN¥15.2b
601106 China First Heavy Industries	1.3x	28.9%	CN¥21.3b
600435 North Navigation Control TechnologyLtd	8.2x	40.4%	CN¥16.0b

Price-To-Sales vs Peers: 600435 is expensive based on its Price-To-Sales Ratio (8.2x) compared to the peer average (5.1x).

Price to Sales Ratio vs Industry

How does 600435's PS Ratio compare vs other companies in the CN Machinery Industry?

6 Companies	Price / Sales	Estimated Growth	Market Cap
000039 China International Marine Containers (Group)	0.3x	5.0%	US$4.79b
000951 Sinotruk Jinan TruckLtd	0.4x	14.6%	US$2.62b
600686 Xiamen King Long Motor Group	0.4x	n/a	US$1.15b
000404 Changhong Huayi Compressor	0.4x	4.8%	US$673.00m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 600435 is expensive based on its Price-To-Sales Ratio (8.2x) compared to the CN Machinery industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is 600435'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.

600435 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	8.2x
Fair PS Ratio	5x

Price-To-Sales vs Fair Ratio: 600435 is expensive based on its Price-To-Sales Ratio (8.2x) compared to the estimated Fair Price-To-Sales Ratio (5x).

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 600435 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥10.65	CN¥13.93 +30.8%	26.8%	CN¥17.65	CN¥10.20	n/a	2
Nov ’25	CN¥10.88	CN¥13.93 +28.0%	26.8%	CN¥17.65	CN¥10.20	n/a	2
Oct ’25	CN¥10.91	CN¥10.00 -8.3%	2.0%	CN¥10.20	CN¥9.80	n/a	2
Sep ’25	CN¥8.84	CN¥10.00 +13.1%	2.0%	CN¥10.20	CN¥9.80	n/a	2
Aug ’25	CN¥9.25	CN¥11.10 +20.0%	8.1%	CN¥12.00	CN¥10.20	n/a	2
Jul ’25	CN¥8.54	CN¥11.10 +30.0%	8.1%	CN¥12.00	CN¥10.20	n/a	2
Jun ’25	CN¥9.66	CN¥12.68 +31.2%	5.3%	CN¥13.35	CN¥12.00	n/a	2
May ’25	CN¥8.53	CN¥12.68 +48.6%	5.3%	CN¥13.35	CN¥12.00	n/a	2
Apr ’25	CN¥9.20	CN¥14.48 +57.3%	7.8%	CN¥15.60	CN¥13.35	n/a	2
Mar ’25	CN¥9.63	CN¥14.48 +50.3%	7.8%	CN¥15.60	CN¥13.35	n/a	2
Feb ’25	CN¥8.34	CN¥14.48 +73.6%	7.8%	CN¥15.60	CN¥13.35	n/a	2
Jan ’25	CN¥11.74	CN¥14.48 +23.3%	7.8%	CN¥15.60	CN¥13.35	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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