China Southern Power Grid Energy Efficiency & Clean Energy Valuation

Is 003035 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 003035 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 003035 (CN¥4.63) is trading above our estimate of fair value (CN¥0.34)

Significantly Below Fair Value: 003035 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 003035?

Key metric: As 003035 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 003035. This is calculated by dividing 003035's market cap by their current revenue.
What is 003035's PS Ratio?
PS Ratio	5.7x
Sales	CN¥3.07b
Market Cap	CN¥17.54b

003035 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	8.4x
Enterprise Value/EBITDA	23.5x
PEG Ratio	2.8x

Price to Sales Ratio vs Peers

How does 003035's PS Ratio compare to its peers?

The above table shows the PS ratio for 003035 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	7.5x
301297 Ferrotec (An Hui) Technology DevelopmentLTD	23.4x	n/a	CN¥16.5b
002266 Zhefu Holding Group	0.9x	12.0%	CN¥17.7b
300070 Beijing Originwater Technology	2.6x	14.3%	CN¥21.8b
600292 Spic Yuanda Environmental-ProtectionLtd	3.2x	n/a	CN¥14.1b
003035 China Southern Power Grid Energy Efficiency & Clean Energy	5.7x	20.1%	CN¥17.5b

Price-To-Sales vs Peers: 003035 is good value based on its Price-To-Sales Ratio (5.7x) compared to the peer average (7.5x).

Price to Sales Ratio vs Industry

How does 003035's PS Ratio compare vs other companies in the CN Commercial Services Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
002183 Eternal Asia Supply Chain Management	0.2x	n/a	US$1.95b
603588 Beijing GeoEnviron Engineering & Technology	0.6x	12.9%	US$1.13b
002301 Shenzhen Comix Group	0.6x	16.9%	US$932.81m
603661 Henglin Home FurnishingsLtd	0.4x	18.6%	US$631.65m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 003035 is expensive based on its Price-To-Sales Ratio (5.7x) compared to the CN Commercial Services industry average (3.3x).

Price to Sales Ratio vs Fair Ratio

What is 003035'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.

003035 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	5.7x
Fair PS Ratio	3.3x

Price-To-Sales vs Fair Ratio: 003035 is expensive based on its Price-To-Sales Ratio (5.7x) compared to the estimated Fair Price-To-Sales Ratio (3.3x).

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 003035 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¥4.63	CN¥5.23 +13.0%	10.1%	CN¥5.76	CN¥4.70	n/a	2
Nov ’25	CN¥4.63	CN¥5.32 +14.9%	8.5%	CN¥5.76	CN¥4.70	n/a	3
Oct ’25	CN¥4.85	CN¥5.23 +7.8%	7.1%	CN¥5.50	CN¥4.70	n/a	3
Sep ’25	CN¥4.04	CN¥5.48 +35.6%	0.4%	CN¥5.50	CN¥5.45	n/a	3
Aug ’25	CN¥4.24	CN¥5.55 +30.9%	1.9%	CN¥5.70	CN¥5.45	n/a	3
Jul ’25	CN¥4.45	CN¥5.55 +24.7%	1.9%	CN¥5.70	CN¥5.45	n/a	3
Jun ’25	CN¥4.94	CN¥5.55 +12.3%	1.9%	CN¥5.70	CN¥5.45	n/a	3
May ’25	CN¥4.91	CN¥5.55 +13.0%	1.9%	CN¥5.70	CN¥5.45	n/a	3
Apr ’25	CN¥4.98	CN¥6.05 +21.5%	11.2%	CN¥7.00	CN¥5.45	n/a	3
Mar ’25	CN¥5.13	CN¥6.72 +31.0%	3.1%	CN¥7.00	CN¥6.50	n/a	3
Feb ’25	CN¥4.53	CN¥6.72 +48.4%	3.1%	CN¥7.00	CN¥6.50	n/a	3
Jan ’25	CN¥5.26	CN¥6.72 +27.8%	3.1%	CN¥7.00	CN¥6.50	n/a	3
Dec ’24	CN¥5.39	CN¥6.72 +24.7%	3.1%	CN¥7.00	CN¥6.50	CN¥4.56	3
Nov ’24	CN¥5.45	CN¥6.72 +23.3%	3.1%	CN¥7.00	CN¥6.50	CN¥4.63	3
Oct ’24	CN¥5.76	CN¥8.05 +39.7%	12.3%	CN¥9.44	CN¥7.30	CN¥4.85	3
Sep ’24	CN¥6.04	CN¥8.05 +33.2%	12.3%	CN¥9.44	CN¥7.30	CN¥4.04	3
Aug ’24	CN¥6.69	CN¥9.64 +44.1%	11.3%	CN¥10.42	CN¥8.10	CN¥4.24	3
Jul ’24	CN¥7.12	CN¥9.64 +35.4%	11.3%	CN¥10.42	CN¥8.10	CN¥4.45	3
Jun ’24	CN¥6.14	CN¥9.64 +57.0%	11.3%	CN¥10.42	CN¥8.10	CN¥4.94	3
May ’24	CN¥6.82	CN¥10.41 +52.7%	0.02%	CN¥10.42	CN¥10.41	CN¥4.91	2
Apr ’24	CN¥7.76	CN¥10.63 +36.9%	1.6%	CN¥10.79	CN¥10.46	CN¥4.98	2
Mar ’24	CN¥8.17	CN¥10.63 +30.0%	1.6%	CN¥10.79	CN¥10.46	CN¥5.13	2

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