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Beijing BDStar Navigation Co Ltd (002151) Fair Value & Analysis

Technology · CN · Market cap 18.1B CNY (≈ $2.7B) · ISIN CNE100000643

What is Beijing BDStar Navigation Co Ltd really worth?

BB Beijing BDStar Navigation Co Ltd 002151 · SHE
Price¥28.48
Fair Value¥5.88
Upside−79.4%
Quality58/100

A solid business, but trading 384% above our fair value of ¥5.88.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −9.4 %/yr)
!Loss-making · -8.5% net margin
!Mixed vs. peers (5/12)
!Narrow moat 15/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range ¥5.17 – ¥6.59

Fair value as of: Sep 5, 2026

From 12 valuation models · updated today

Share price −3.3% 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 above even our optimistic bull case (¥6.59). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

¥66.90 ¥21.23 Fair Value ¥5.88 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range ¥21.23 – ¥66.90 · fair‑value band ¥5.17 – ¥6.59 · the ¥28.48 price screens above the ¥5.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Beijing BDStar Navigation Co Ltd (002151) currently trades at ¥28.48, while our model-based Fair Value estimate is ¥5.88, implying the stock looks roughly 384.3% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of ¥7.69 per share, and 0 of the 12 models we run sit above the ¥28.48 price. Bear case: the Multiples group reads lowest at ¥4.63, and 12 of the 12 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Beijing BDStar Navigation Co Ltd generated revenue of 2.5B CNY at a net margin of −8.5%. Revenue grew 93.3% year over year. It earns a return on equity of −4.6%. The balance sheet holds a net cash position of 1.6B CNY. Fundamentals as of Sep 5, 2026

Our scenario range runs from ¥5.17 (bear case) to ¥6.59 (bull case); at ¥28.48, the current price sits above 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 57% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −55% fair-value upside, at −79%, 002151 screens richer than that median.

Fair Value models

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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥0.0200 to ¥10.05). Read the values as a conservative anchor, not as a price target.
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 best evidence ¥6.08 ¥10.05 ¥17.83 78
5Y EBITDA Exit ¥4.49 ¥6.40 ¥8.82 76
Growth DCF ¥6.00 ¥9.61 ¥16.03 76
All 12 models by family
DCF Models
FCF DCF best evidence ¥6.08 ¥10.05 ¥17.83 78
5Y Revenue Exit ¥5.09 ¥7.69 ¥11.31 72
5Y EBITDA Exit ¥4.49 ¥6.40 ¥8.82 76
10Y Revenue Exit ¥5.28 ¥7.93 ¥12.19 66
10Y EBITDA Exit ¥4.98 ¥6.96 ¥10.01 68
Dividend Discount
Gordon GGM ¥0.0100 ¥0.0300 ¥0.0500 65
DDM Multi-Stage ¥0.0100 ¥0.0200 ¥0.0300 65
Multiples
EV/EBITDA ¥3.91 ¥4.63 ¥5.34 67
EV/Revenue ¥4.62 ¥5.84 ¥7.06 54
Asset-Based
NCAV (Graham) ¥4.45 ¥5.97 ¥8.91 54
Growth DCF
Growth DCF ¥6.00 ¥9.61 ¥16.03 76
Rev-Margin DCF ¥5.09 ¥7.61 ¥11.05 72

Widest divergence: DCF Models (¥7.69) versus Dividend Discount (¥0.0200). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/S ratio 7.22 TTM
EPS (TTM) ¥−0.3900
Net margin −11.6% FY2025
Return on equity −4.6% TTM
Return on assets (EBIT) −1.3% avg 5y
Operating margin −0.6% TTM
More key figures
Growth
Revenue (TTM) 2.5B CNY TTM
Revenue growth (YoY) +93.3% 3y avg −16.6%
EPS growth (YoY) +14.9%
Balance sheet & cash flow
Free cash flow 170M CNY FY2025
Net cash 1.6B CNY FY2024

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 29

Profitability 9
Margins and returns on capital today
Quality Growth 89
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 69
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

Beijing BDStar Navigation Co., Ltd. provides GNSS products and applications worldwide. It offers GNSS chips, including precision chips, modules, and boards; GNSS system-on-chip (SoC) chips, GNSS modules, and analog chips; and GNSS data services comprising high-precision data, A-GNSS service, and high-precision positioning engine services.

Full company description

Beijing BDStar Navigation Co., Ltd. provides GNSS products and applications worldwide. It offers GNSS chips, including precision chips, modules, and boards; GNSS system-on-chip (SoC) chips, GNSS modules, and analog chips; and GNSS data services comprising high-precision data, A-GNSS service, and high-precision positioning engine services. The company also provides GNSS antennas, such as survey GNSS, helix, choke ring, aviation, ruggedized, OEM GNSS, x-survey, and timing antennas; high-precision GNSS and intelligent connected vehicle antennas; and wireless data radios, including radio modems and UHF radios. In addition, it offers ceramic components, such as ceramic substrates, modules, and RF passive components. Beijing BDStar Navigation Co., Ltd. was founded in 2000 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing BDStar Navigation Co Ltd reported revenue of 2.2B CNY in FY2025 versus 3.9B CNY in FY2021, a compound −12.9%/yr. Reported net income was −257M CNY in FY2025.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.2B CNY
Latest YoY
+47.7%
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.
−16.6%
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.
−9.4%
Avg. revenue growth/yr (21Y) 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.
+20.5%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −12.9%/yr
FY21 3.9B CNY
FY22 3.8B CNY
FY23 4.1B CNY
FY24 1.5B CNY
FY25 2.2B CNY
Net income
FY21 203M CNY
FY22 145M CNY
FY23 161M CNY
FY24 −350M CNY
FY25 −257M CNY

002151 screens 384% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Beijing BDStar Navigation Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002151

Peer Group

Scientific & Technical Instruments · 164 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 58 · Above median
Fair Value upside −79% · Bottom 25%
Return on assets −2% · Bottom 25%
Net margin (TTM) −9% · Bottom 25%
Operating margin (TTM) −1% · Below median
Revenue growth 93% · Top 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/B 0.56× · Cheaper than 75% of peers
P/S (TTM) 1.08× · Cheaper than 75% of peers
P/FCF 16.0× · Pricier than median
EV/EBITDA 69.0× · 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
VALUE0 · sector 0
FUTURE100 · sector 32
PAST0 · sector 24
HEALTH100 · sector 98
DIVIDEND0 · sector 21

VALUE 0: the price sits above our fair-value range.

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Keysight Technologies, Inc KEYS $316.13 $107.22 −66%
Garmin Ltd GRMN $309.98 $139.44 −55%
Teledyne Technologies Incorporated TDY $607.87 $488.95 −20%
Chroma ATE Inc 2360 2,195 TWD 322.57 TWD −85%
Hexagon AB HEXAB kr 99.00 kr 74.09 −25%
MKS Inc MKSI $281.60 $76.00 −73%
AVIC Chengdu Aircraft Company 302132 ¥60.00 ¥24.39 −59%
Fortive Corporation FTV $61.54 $33.48 −46%
Trimble Inc TRMB $56.99 $34.12 −40%
Cognex Corporation CGNX $60.79 $19.25 −68%

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Frequently asked questions

Is Beijing BDStar Navigation Co Ltd (002151) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of ¥5.88 versus a price of ¥28.48, about −79% upside (overvalued).
What is the fair value of 002151?
Our model-based fair value for Beijing BDStar Navigation Co Ltd is ¥5.88 (as of Sep 5, 2026), built from audited fundamentals. The current price: ¥28.48.
What is the quality score of 002151?
Beijing BDStar Navigation Co Ltd has a Quality Score of 58/100. 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 Beijing BDStar Navigation Co Ltd (002151)?
Beijing BDStar Navigation Co Ltd reported trailing-twelve-month revenue of about 2.5B CNY (latest available figure, as of Sep 5, 2026).
What is the net profit margin of 002151?
The net profit margin of Beijing BDStar Navigation Co Ltd is about −8.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
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