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Centre Testing Intl Shenzhen (300012) Fair Value & Analysis

Industrials · CN · Market cap 23.6B CNY (≈ $3.5B) · ISIN CNE100000GV8

What is Centre Testing Intl Shenzhen really worth?

CT Centre Testing Intl Shenzhen 300012 · SHE
Price¥14.79
Fair Value¥11.90
Upside−19.5%
Quality63/100

A solid business, but trading 24% above our fair value of ¥11.90.

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Strengths

Healthy Growth (revenue 5y +13.2 %/yr)
Solidly profitable · 15.5% net margin
Low debt · generates free cash flow

Risks

!Mixed vs. peers (8/14)
!Moderate moat 58/100
!Weak on valuation: 7 out of 100
!Weak on dividend: 27 out of 100

For context

·1.35% dividend yield
Evidence: High Range ¥8.26 – ¥14.78

Fair value as of: Aug 27, 2026

From 26 valuation models · updated 9 days ago

Share price +4.2% over the past month.

What runs behind every stock

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

What matters now

  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The price sits above our optimistic bull case: the favourable scenario is already priced in.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

¥33.94 ¥9.33 Fair Value ¥11.90 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range ¥9.33 – ¥33.94 · fair‑value band ¥8.26 – ¥14.78 · the ¥14.79 price screens above the ¥11.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Centre Testing Intl Shenzhen (300012) currently trades at ¥14.79, while our model-based Fair Value estimate is ¥11.90, implying the stock looks roughly 24.3% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of ¥17.54 per share, and 7 of the 26 models we run sit above the ¥14.79 price. Bear case: the Dividend Discount group reads lowest at ¥2.43, and 19 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Centre Testing Intl Shenzhen generated revenue of 6.8B CNY at a net margin of 15.5%. Revenue grew 16.2% year over year. It earns a return on equity of 13.9%. The balance sheet holds a net cash position of 640M CNY. Fundamentals as of Aug 27, 2026

Our scenario range runs from ¥8.26 (bear case) to ¥14.78 (bull case); at ¥14.79, 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 17% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −2% fair-value upside, at −20%, 300012 screens richer 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 ¥0.2910 per share, which is 2.4 % 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 best evidence ¥7.36 ¥11.97 ¥24.99 76
EPV ¥6.55 ¥7.52 ¥8.37 74
Growth DCF ¥7.06 ¥13.22 ¥24.89 74
All 26 models by family
DCF Models
FCF DCF best evidence ¥7.36 ¥11.97 ¥24.99 76
Owner Earnings ¥8.69 ¥18.70 ¥39.60 71
5Y Revenue Exit ¥6.34 ¥11.16 ¥20.29 69
5Y EBITDA Exit ¥9.28 ¥17.54 ¥32.32 72
5Y P/E Exit ¥9.29 ¥18.92 ¥31.31 68
10Y Revenue Exit ¥6.43 ¥12.24 ¥19.43 65
10Y EBITDA Exit ¥8.69 ¥17.74 ¥34.34 64
10Y P/E Exit ¥8.70 ¥17.76 ¥33.37 60
Earnings-Based
Graham-Dodd ¥4.11 ¥28.36 ¥39.78 63
Lynch FV ¥8.35 ¥11.93 ¥15.52 61
PEG = 1.0 ¥8.35 ¥11.93 ¥15.52 57
EPV ¥6.55 ¥7.52 ¥8.37 74
Dividend Discount
Gordon GGM ¥1.38 ¥2.88 ¥4.56 66
DDM Multi-Stage ¥1.38 ¥2.43 ¥3.02 66
Multiples
P/E Multiple ¥9.51 ¥12.68 ¥15.85 63
P/S Multiple ¥5.90 ¥7.87 ¥9.84 58
P/B Multiple ¥7.70 ¥10.27 ¥12.83 55
EV/EBIT ¥9.39 ¥12.27 ¥15.15 66
EV/EBITDA ¥10.24 ¥13.40 ¥16.57 67
EV/Revenue ¥5.70 ¥7.83 ¥9.95 54
Asset-Based
NCAV (Graham) ¥2.28 ¥3.05 ¥4.56 54
Growth DCF
Growth DCF ¥7.06 ¥13.22 ¥24.89 74
Rev-Margin DCF ¥6.34 ¥11.67 ¥19.57 70
Economic Profit
Residual Income ¥4.36 ¥5.45 ¥13.56 69
ROIC Compounder ¥7.85 ¥11.42 ¥14.47 72
Growth Earnings
Growth-Adj P/E ¥11.47 ¥16.39 ¥21.30 67

Widest divergence: DCF Models (¥17.54) versus Dividend Discount (¥2.43). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 23.5
P/S ratio 3.60 P/E × margin
EPS (TTM) ¥0.6300 price ÷ EPS = P/E 23.5
Dividend yield 1.4% payout 31.7%
Net margin 15.4% FY2025
Return on equity 13.9% TTM
More key figures
Profitability
Return on assets (EBIT) 11.9% avg 5y
Operating margin 12.5% TTM
Growth
Revenue (TTM) 6.8B CNY TTM
Revenue growth (YoY) +16.2% 3y avg +8.9%
EPS growth (YoY) +31.0%
Balance sheet & cash flow
Free cash flow 713M CNY FY2025
Net cash 640M CNY FY2024

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 63 · Market factors (momentum, volatility) 53

Profitability 56
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 57
Distance to the 52-week high (market factor)
Net Issuance 79
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

Centre Testing International Group Co. Ltd. provides testing, inspection, certification, calibration, audit, training, and technical services in China and internationally. It operates in five segments: Trade Protection; Consumer Product Testing; Industrial Testing; Life Sciences; and Pharmaceuticals and Medical Services.

Full company description

Centre Testing International Group Co. Ltd. provides testing, inspection, certification, calibration, audit, training, and technical services in China and internationally. It operates in five segments: Trade Protection; Consumer Product Testing; Industrial Testing; Life Sciences; and Pharmaceuticals and Medical Services. The company offers environmental protection and regulatory; in-vehicle electronics; vehicle and parts; connectors and fasteners; rail transit; hazardous substances in vessel; aviation materials; special equipment; toys; home supplies; furniture and furniture materials; food contact material; table and kitchenware; medical device; electromagnetic compatibility; safety compliance; reliability; green/ environmental protection; construction works; combustion performance; foundation and on-site physical inspection; construction site monitory/measurement; building material testing; CTI sets; food and product type inspection; pet food and feed; agricultural materials; health food and FSMP; industry quality control plans; footwear/bags, textile, and garment testing; lubricant oil condition monitoring; petroleum products; fuel oil; chemical product and green environmental testing; metal material; polymer materials; food contact material; occupational and public health; and environmental monitoring services. It also provides CE, system, service, and product certification services; food safety; electronic and electrical appliances; building materials, rail, transit, and industrial equipment and manufacturing services; and consumer product inspection, wind power equipment manufacturing supervision, wind turbine and industrial product inspection, non-destructive and foundation-based testing, engineering on-site monitoring and measurement, luxury goods inspection, pest control, bulk commodity inspection, and government-entrusted inspection services. Centre Testing International Group Co. Ltd. was incorporated in 2003 and is headquartered in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Centre Testing Intl Shenzhen reported revenue of 6.6B CNY in FY2025 versus 4.3B CNY in FY2021, a compound +11.2%/yr. Reported net income was 1.0B CNY in FY2025, compounding +8.0%/yr from FY2021.

Growth Quality 98/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
6.6B CNY
Latest YoY
+8.8%
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.
+8.9%
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.
+13.2%
Avg. revenue growth/yr (19Y) 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.
+27.2%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+13.3% (11.9 + 1.4)
Revenue +11.2%/yr
FY21 4.3B CNY
FY22 5.1B CNY
FY23 5.6B CNY
FY24 6.1B CNY
FY25 6.6B CNY
Net income +8.0%/yr
FY21 746M CNY
FY22 903M CNY
FY23 910M CNY
FY24 921M CNY
FY25 1.0B CNY
Character of growth · EPS growth decomposed (2013-2024) +20.0 % p.a.
Revenue per share +19.7 %

of which total revenue +21.2 % · buybacks/dilution −1.2 %

EBIT margin +0.3 %
Tax rate +1.0 %
Residual (interest, one-offs) −1.0 %

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).

300012 screens 24% overvalued. Compare with Verisk Analytics, Inc →

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Cite: Fair Value Calculator (2026). "Centre Testing Intl Shenzhen Fair Value". https://www.fairvalue-calculator.com/stock/300012

Peer Group

Consulting Services · 80 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 63 · Above median
Fair Value upside −20% · Below median
Return on equity (TTM) 14% · Above median
Return on assets 7% · Above median
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 13% · Above median
Revenue growth 16% · Top 25%
Dividend yield (TTM) 1.4% · Bottom 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Consulting Services median · lower = cheaper

P/E (TTM) 23.5× · Pricier than median
P/B 3.07× · Pricier than median
P/S (TTM) 3.45× · Pricier than 75% of peers
P/FCF 4.9× · Cheaper than median
EV/EBITDA 15.6× · 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
VALUE7 · sector 25
FUTURE81 · sector 17
PAST55 · sector 35
HEALTH100 · sector 89
DIVIDEND27 · sector 61

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 Consulting Services stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Verisk Analytics, Inc VRSK $191.77 $145.58 −24%
SGS SA SGSN CHF 94.20 CHF 68.96 −27%
Equifax Inc EFX $192.41 $100.04 −48%
Bureau Veritas SA BVI €27.74 €27.81 +0%
ALS Limited ALQ A$21.94 A$10.93 −50%
Booz Allen Hamilton Holding BAH $75.38 $146.45 +94%
DKSH Holding DKSH CHF 66.30 CHF 64.81 −2%
FTI Consulting, Inc FCN $151.36 $168.44 +11%
GRG Metrology & Test Group 002967 ¥17.23 ¥11.69 −32%
Ipsos SA IPS €38.98 €83.21 +113%

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Frequently asked questions

Is Centre Testing Intl Shenzhen (300012) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of ¥11.90 versus a price of ¥14.79, about −20% upside (overvalued).
What is the fair value of 300012?
Our model-based fair value for Centre Testing Intl Shenzhen is ¥11.90 (as of Aug 27, 2026), built from audited fundamentals. The current price: ¥14.79.
What is the quality score of 300012?
Centre Testing Intl Shenzhen has a Quality Score of 63/100. 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 Centre Testing Intl Shenzhen (300012)?
Centre Testing Intl Shenzhen reported trailing-twelve-month revenue of about 6.8B CNY (latest available figure, as of Aug 27, 2026).
What is the net profit margin of 300012?
The net profit margin of Centre Testing Intl Shenzhen is about 15.5%, meaning it keeps roughly 15.5% of revenue as net income. Based on the latest reported figures.
Does Centre Testing Intl Shenzhen pay a dividend?
Centre Testing Intl Shenzhen currently shows a dividend yield of about 1.35% relative to its recent price (as of Aug 27, 2026).
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