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Weichai Power Co Ltd Class A (000338) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 239B CNY (≈ $35.7B) · ISIN CNE1000000D4

What is Weichai Power Co Ltd Class A really worth?

WP Weichai Power Co Ltd Class A 000338 · SHE
Price¥26.85
Fair Value¥24.74
Upside−7.9%
Quality56/100

A solid business, currently priced close to our fair value of ¥24.74.

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Strengths

Healthy Growth (revenue 5y +3.3 %/yr)
Low debt · generates free cash flow

Risks

!Thin margins · 4.8% net margin
!Mixed vs. peers (8/15)
!Narrow moat 42/100
!Weak on valuation: 23 out of 100

For context

·2.73% dividend yield
Evidence: High Range ¥17.74 – ¥31.74

Fair value as of: Sep 1, 2026

From 26 valuation models · updated 4 days ago

Share price −6.3% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • The price sits in the upper half of our model range, so the margin of safety is thin.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

¥35.34 ¥8.03 Fair Value ¥24.74 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.

How to read this chart

60‑month range ¥8.03 – ¥35.34 · fair‑value band ¥17.74 – ¥31.74 · the ¥26.85 price screens above the ¥24.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.

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Analysis

Weichai Power Co Ltd Class A (000338) currently trades at ¥26.85, while our model-based Fair Value estimate is ¥24.74, implying the stock looks roughly 8.5% fairly valued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of ¥69.31 per share, and 18 of the 26 models we run sit above the ¥26.85 price. Bear case: the Asset-Based group reads lowest at ¥7.22, and 8 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Weichai Power Co Ltd Class A generated revenue of 237B CNY at a net margin of 4.8%. Revenue grew 8.9% year over year. It earns a return on equity of 11.5%. Net debt stands at 28.2B CNY. Fundamentals as of Sep 1, 2026

Our scenario range runs from ¥17.74 (bear case) to ¥31.74 (bull case); at ¥26.85, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 102% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −17% fair-value upside, at −8%, 000338 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.3911 per share, which is 1.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF ¥52.58 ¥81.21 ¥174.81 72
EPV ¥19.38 ¥21.77 ¥23.89 72
Growth DCF ¥49.89 ¥97.66 ¥177.87 71
All 26 models by family
DCF Models
FCF DCF ¥52.58 ¥81.21 ¥174.81 72
Owner Earnings ¥39.97 ¥85.82 ¥186.37 67
5Y Revenue Exit ¥30.47 ¥45.34 ¥76.22 68
5Y EBITDA Exit ¥42.32 ¥69.31 ¥122.22 69
5Y P/E Exit ¥33.45 ¥62.12 ¥100.27 66
10Y Revenue Exit ¥36.43 ¥65.85 ¥82.27 64
10Y EBITDA Exit ¥45.99 ¥91.97 ¥171.05 62
10Y P/E Exit ¥39.37 ¥72.42 ¥124.60 59
Earnings-Based
Graham-Dodd ¥8.60 ¥59.97 ¥84.16 58
Lynch FV ¥30.98 ¥44.26 ¥57.54 57
PEG = 1.0 ¥30.98 ¥44.26 ¥57.54 53
EPV ¥19.38 ¥21.77 ¥23.89 72
Dividend Discount
Gordon GGM ¥6.78 ¥14.79 ¥24.89 61
DDM Multi-Stage ¥6.78 ¥12.12 ¥15.42 62
Multiples
P/E Multiple ¥19.92 ¥26.56 ¥33.20 61
P/S Multiple ¥16.12 ¥21.50 ¥26.87 56
P/B Multiple ¥16.12 ¥21.50 ¥26.87 53
EV/EBIT ¥26.84 ¥33.84 ¥40.84 65
EV/EBITDA ¥37.24 ¥47.70 ¥58.17 66
EV/Revenue ¥20.83 ¥27.25 ¥33.67 53
Asset-Based
NCAV (Graham) ¥5.39 ¥7.22 ¥10.78 52
Growth DCF
Growth DCF ¥49.89 ¥97.66 ¥177.87 71
Rev-Margin DCF ¥32.84 ¥51.09 ¥89.53 67
Economic Profit
Residual Income ¥10.10 ¥11.95 ¥23.73 69
ROIC Compounder ¥24.61 ¥36.92 ¥49.18 68
Growth Earnings
Growth-Adj P/E ¥40.53 ¥57.89 ¥75.26 64

Widest divergence: DCF Models (¥69.31) versus Asset-Based (¥7.22). Highest evidence: FCF DCF (72).

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Key figures & financial health

P/E ratio 21.0 as of Jul 13, 2026
P/S ratio 0.99 P/E × margin
EPS (TTM) ¥1.31 price ÷ EPS = P/E 21.0
Dividend yield 2.7% payout 55.9%
Net margin 4.7% FY2025
Return on equity 11.5% TTM
More key figures
Profitability
Return on assets (EBIT) 3.9% avg 5y
Operating margin 8.2% TTM
Growth
Revenue (TTM) 237B CNY TTM
Revenue growth (YoY) +8.9% 3y avg +9.7%
EPS growth (YoY) +16.1%
Balance sheet & cash flow
Free cash flow 22.6B CNY FY2025
Net debt 28.2B CNY FY2025 · ≈ 1.2 yrs of FCF

Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 49

Profitability 34
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 15
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Weichai Power Co., Ltd. engages in the automobile and equipment manufacturing industry in China and internationally. The company operates through the Engines, Automobiles and Auto Parts, Agricultural Equipment, and Intelligent Logistics segments.

Full company description

Weichai Power Co., Ltd. engages in the automobile and equipment manufacturing industry in China and internationally. The company operates through the Engines, Automobiles and Auto Parts, Agricultural Equipment, and Intelligent Logistics segments. It offers engines for trucks, buses, construction machinery, and agricultural tractors and harvesters; energy and power solutions, including generator sets and industrial power products; transmission, PTO, and auto transmission products; axles for trucks, buses, and construction machineries; and hydraulics comprising variable displacement pumps, VT modular valves, electronic units, and excavator and agriculture machine powertrain systems. The company also provides new energy products, such as pure electric drive, pure electric gearbox power, electric drive axle power, hybrid power, power battery, and range-extender systems; commercial vehicles and auto parts; and after-market products, which include parts, oil, and remanufacture. In addition, it engages in forklift production, warehouse technology, and supply chain solution services, as well as industrial truck and services materials handling. The company offers its products under the Weichai Power Engine, Fast Gear Transmission, Hande Axle, Shaanxi Automobile Heavy Truck, and Weichai Lovol Smart Agriculture brands. Weichai Power Co., Ltd. was incorporated in 2002 and is based in Weifang, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Weichai Power Co Ltd Class A reported revenue of 232B CNY in FY2025 versus 220B CNY in FY2021, a compound +1.3%/yr. Reported net income was 10.9B CNY in FY2025, compounding +3.6%/yr from FY2021.

Growth Quality 65/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
232B CNY
Latest YoY
+7.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.7%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.3%
Avg. revenue growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+50.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+4.7% (2.0 + 2.7)
Revenue +1.3%/yr
FY21 220B CNY
FY22 175B CNY
FY23 214B CNY
FY24 216B CNY
FY25 232B CNY
Net income +3.6%/yr
FY21 9.5B CNY
FY22 4.9B CNY
FY23 9.0B CNY
FY24 11.4B CNY
FY25 10.9B CNY
Character of growth · EPS growth decomposed (2014-2025) +14.0 % p.a.
Revenue per share +10.5 %

of which total revenue +11.6 % · buybacks/dilution −0.9 %

EBIT margin +2.6 %
Tax rate +1.0 %
Residual (interest, one-offs) −0.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Weichai Power Co Ltd Class A Fair Value". https://www.fairvalue-calculator.com/stock/000338

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Auto Manufacturers · 115 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside −8% · Below median
Return on equity (TTM) 11% · Above median
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 8% · Top 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 2.7% · Above median
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Auto Manufacturers median · lower = cheaper

P/E (TTM) 21.0× · Pricier than median
P/B 2.56× · Pricier than median
P/S (TTM) 1.01× · Pricier than median
P/FCF 1.6× · Pricier than median
EV/EBITDA 6.6× · Cheaper than median
PEG 4.87× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE23 · sector 24
FUTURE45 · sector 27
PAST46 · sector 22
HEALTH90 · sector 94
DIVIDEND55 · sector 51

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Auto Manufacturers stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).

Stock Price Fair Value vs Fair Value
Toyota Motor Corporation TM $191.84 $247.83 +29%
BYD Company 81211 HK$76.90 HK$48.59 −37%
Hyundai Motor Company 005380 418,500 KRW 567,393 KRW +36%
Ferrari N.V RACE €355.50 €167.67 −53%
General Motors Company GM $86.27 $52.69 −39%
Ford Motor Company F $13.88 $11.51 −17%
Mercedes-Benz Group MBG €46.95 €106.16 +126%
Dr. Ing. h.c. F. Porsche AG P911 €43.91 €17.34 −61%
Maruti Suzuki India Limited MARUTI ₹12,694 ₹8,236 −35%
Volkswagen AG VOW3 €77.42 €248.34 +221%

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Frequently asked questions

Is Weichai Power Co Ltd Class A (000338) overvalued or undervalued?
As of Sep 1, 2026, our model estimates a fair value of ¥24.74 versus a price of ¥26.85, about −8% upside (fairly valued).
What is the fair value of 000338?
Our model-based fair value for Weichai Power Co Ltd Class A is ¥24.74 (as of Sep 1, 2026), built from audited fundamentals. The current price: ¥26.85.
What is the quality score of 000338?
Weichai Power Co Ltd Class A has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Weichai Power Co Ltd Class A (000338)?
Weichai Power Co Ltd Class A reported trailing-twelve-month revenue of about 237B CNY (latest available figure, as of Sep 1, 2026).
What is the net profit margin of 000338?
The net profit margin of Weichai Power Co Ltd Class A is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.
Does Weichai Power Co Ltd Class A pay a dividend?
Weichai Power Co Ltd Class A currently shows a dividend yield of about 2.73% relative to its recent price (as of Sep 1, 2026).
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