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STOCK COMPARISON

Zhejiang Leapmotor Tech vs Toyota Motor: Fair Value & Quality

Both stocks run through our valuation models. Here is how Zhejiang Leapmotor Tech (9863) and Toyota Motor (TM) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Toyota Motor as the more attractively valued of the two: Zhejiang Leapmotor Tech trades at HK$37.78 versus a fair value of HK$13.15 (-65%), while Toyota Motor trades at $189 versus $228 (+21%).
Zhejiang Leapmotor Tech
9863.HK · HKD · Consumer Discretionary
-65%
upside to fair value
overvalued
PriceHK$37.78
Fair ValueHK$13.15
Quality44/100
Toyota Motor
TM.NYSE · USD · Consumer Discretionary
+21%
upside to fair value
undervalued
Price$189
Fair Value$228
Quality46/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Zhejiang Leapmotor TechToyota Motor
Valuation
79.5×P/E (TTM)9.8×
0.77×P/S (TTM)0.66×
3.52×P/B0.83×
37.2×EV/EBITDA8.2×
—PEG1.54×
−65.2%Fair value upside+20.9%
—Dividend yield3.5%
—Dividend per share$95.00
Profitability
1%Operating margin5%
—EBIT margin trend (5Y)0.91×
4%Return on equity10%
0%Return on assets2%
Growth
74%Revenue growth (YoY)2%
73.5%Avg. growth/yr (3Y)10.9%
152.5%Avg. growth/yr (5Y)13.2%
—Value creation/yr+17.6%
Balance & size
0.9×Interest coverage (EBIT/interest)40.9×
0.16×Debt / equity0.64×
$6BMarket cap$213B
healthyGrowth qualityexpensive

Toyota Motor leads: 4 to 8 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Zhejiang Leapmotor Techof which business quality 48 · market factors 32 Toyota Motorof which business quality 45 · market factors 68
ProfitabilityMargins and returns on capital today
34
33
Quality GrowthAre margins and returns improving?
100
29
CashflowEarnings quality: real cash, not paper profit
68
33
Fin. StrengthBalance sheet, leverage, solvency risk
40
49
InvestmentDisciplined investing over empire-building
25
43
Low VolatilityCalm price path (market factor)
64
100
MomentumPrice trend over the last 3–12 months (market factor)
25
—
52W MomentumDistance to the 52-week high (market factor)
6
31
Net IssuanceBuybacks instead of dilution
21
92

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyZhejiang Leapmotor TechPrice HK$37.78Toyota MotorPrice $189
DCF Models+150%above the priceHK$94.34+21%above the price$228
Earnings-Based-57%below the priceHK$16.23-18%below the price$155
Multiples-71%below the priceHK$10.84+112%above the price$400
Asset-Based-78%below the priceHK$8.37-8%close to the price$174
Growth DCF+268%above the priceHK$1390%close to the price$189
Economic Profit-73%below the priceHK$10.17-3%close to the price$184
Growth Earnings-43%below the priceHK$21.54+160%above the price$491
Minimum-78%below the priceHK$8.37-18%below the price$155
Maximum+268%above the priceHK$139+160%above the price$491
Median-57%below the priceHK$16.230%close to the price$189
Geometric mean-37%below the priceHK$23.73+26%above the price$237

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Zhejiang Leapmotor Tech: 14 of 23 models see the stock below the current price.

Toyota Motor: 7 of 22 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Zhejiang Leapmotor Tech
Bear HK$13.01Fair Value HK$13.15Bull HK$13.28
HK$37.78 = current price (white tick)
Toyota Motor
Bear $197Fair Value $228Bull $434
$189 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Zhejiang Leapmotor Tech · Consumer Discretionary

Quality score44 · bottom 25%
Fair value upside-65% · bottom 25%

Toyota Motor · Consumer Discretionary

Quality score46 · below median
Fair value upside+21% · above median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Toyota Motor as the more attractively valued of the two: Zhejiang Leapmotor Tech trades at HK$37.78 versus a fair value of HK$13.15 (-65%), while Toyota Motor trades at $189 versus $228 (+21%).

Toyota Motor has the higher quality score (46/100).

See the full analysis →
Zhejiang Leapmotor Tech · Toyota Motor

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.