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AVIC Chengdu Aircraft Co Ltd Class A (302132) Fair Value & Analysis

Technology · CN · Market cap 141B CNY (≈ $21.1B) · ISIN CNE100006T10

What is AVIC Chengdu Aircraft Co Ltd Class A really worth?

AC AVIC Chengdu Aircraft Co Ltd Class A 302132 · SHE
Price¥63.30
Fair Value¥20.73
Upside−67.3%
Quality29/100

Below-average quality, and trading another 205% above our fair value of ¥20.73.

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Risks

!Expensive Growth (revenue 5y +112.0 %/yr)
!Thin margins · 4.5% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (5/11)
!Narrow moat 39/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 12 out of 100

For context

·0.61% dividend yield
Evidence: Low Range ¥15.54 – ¥25.93

Fair value as of: Aug 30, 2026

From 17 valuation models · updated 6 days ago

Share price +9.2% 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 (¥25.93). The favourable scenario is already priced in.
  • Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

¥91.89 ¥8.90 Fair Value ¥20.73 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range ¥8.90 – ¥91.89 · fair‑value band ¥15.54 – ¥25.93 · the ¥63.30 price screens above the ¥20.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

AVIC Chengdu Aircraft Co Ltd Class A (302132) currently trades at ¥63.30, while our model-based Fair Value estimate is ¥20.73, implying the stock looks roughly 205.3% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of ¥58.80 per share, and 0 of the 17 models we run sit above the ¥63.30 price. Bear case: the Asset-Based group reads lowest at ¥5.32, and 17 of the 17 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, AVIC Chengdu Aircraft Co Ltd Class A generated revenue of 78.0B CNY at a net margin of 4.5%. Revenue grew 79.7% year over year. It earns a return on equity of 15.4%. Net debt stands at 221M CNY. Fundamentals as of Aug 30, 2026

Our scenario range runs from ¥15.54 (bear case) to ¥25.93 (bull case); at ¥63.30, 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 12% below its 52-week high and 9% 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 −67%, 302132 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.

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
EPV best evidence ¥20.23 ¥22.28 ¥24.08 74
ROIC Compounder ¥20.31 ¥22.49 ¥24.46 70
Owner Earnings ¥28.38 ¥54.53 ¥109.42 69
All 17 models by family
DCF Models
Owner Earnings ¥28.38 ¥54.53 ¥109.42 69
Earnings-Based
Graham-Dodd ¥8.73 ¥60.91 ¥85.48 61
Lynch FV ¥31.47 ¥44.96 ¥58.44 59
PEG = 1.0 ¥31.47 ¥44.96 ¥58.44 55
EPV best evidence ¥20.23 ¥22.28 ¥24.08 74
Dividend Discount
Gordon GGM ¥6.23 ¥12.95 ¥20.55 64
DDM Multi-Stage ¥6.23 ¥10.92 ¥13.60 64
Multiples
P/E Multiple ¥20.23 ¥26.97 ¥33.72 63
P/S Multiple ¥16.38 ¥21.84 ¥27.30 58
P/B Multiple ¥16.38 ¥21.84 ¥27.30 55
EV/EBIT ¥26.24 ¥32.36 ¥38.48 66
EV/EBITDA ¥28.79 ¥35.76 ¥42.73 67
EV/Revenue ¥20.99 ¥26.60 ¥32.22 54
Asset-Based
NCAV (Graham) ¥3.97 ¥5.32 ¥7.94 54
Economic Profit
Residual Income ¥8.48 ¥10.85 ¥28.91 65
ROIC Compounder ¥20.31 ¥22.49 ¥24.46 70
Growth Earnings
Growth-Adj P/E ¥41.16 ¥58.80 ¥76.45 65

Widest divergence: Growth Earnings (¥58.80) versus Asset-Based (¥5.32). Highest evidence: EPV (74).

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Key figures & financial health

P/S ratio 1.81 TTM
EPS (TTM) ¥−0.3100
Dividend yield 0.6%
Net margin 4.6% FY2025
Return on equity 15.4% TTM
Return on assets (EBIT) 4.3% avg 5y
More key figures
Profitability
Operating margin 4.0% TTM
Growth
Revenue (TTM) 78.0B CNY TTM
Revenue growth (YoY) +79.7% 3y avg +241%
EPS growth (YoY) +23.0%
Balance sheet & cash flow
Free cash flow −4.4B CNY FY2025
Net debt 221M CNY FY2024

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 31 · Market factors (momentum, volatility) 34

Profitability 35
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 0
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

AVIC Chengdu Aircraft Company Limited manufactures and sells aircraft equipment, aviation component, and intelligent measurement and control products in China and internationally. It offers motor vehicle inspection equipment; sensors and instruments; and weighing control systems.

Full company description

AVIC Chengdu Aircraft Company Limited manufactures and sells aircraft equipment, aviation component, and intelligent measurement and control products in China and internationally. It offers motor vehicle inspection equipment; sensors and instruments; and weighing control systems. The company also engages in the research and experimental development activities. In addition, it provides military and civil aviation, as well as non-aviation products. The company was formerly known as Zhonghang Electronic Measuring Instruments Co.,Ltd and changed its name to AVIC Chengdu Aircraft Company Limited in January 2025. AVIC Chengdu Aircraft Company Limited was founded in 1965 and is based in Chengdu, the People's Republic of China. AVIC Chengdu Aircraft Company Limited is a subsidiary of Aviation Industry Corporation of China,Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AVIC Chengdu Aircraft Co Ltd Class A reported revenue of 75.4B CNY in FY2025 versus 1.9B CNY in FY2021, a compound +149.6%/yr. Reported net income was 3.4B CNY in FY2025, compounding +82.9%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
75.4B CNY
Latest YoY
+4,134.2%
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.
+240.7%
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.
+112.0%
Avg. revenue growth/yr (18Y) 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.
+38.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+24.3% (23.7 + 0.6)
Revenue +149.6%/yr
FY21 1.9B CNY
FY22 1.9B CNY
FY23 1.7B CNY
FY24 1.8B CNY
FY25 75.4B CNY
Net income +82.9%/yr
FY21 307M CNY
FY22 193M CNY
FY23 98.2M CNY
FY24 112M CNY
FY25 3.4B CNY
Character of growth · EPS growth decomposed (2013-2024) +6.0 % p.a.
Revenue per share +7.4 %

of which total revenue +7.6 % · buybacks/dilution −0.2 %

EBIT margin −5.2 %
Tax rate +1.5 %
Residual (interest, one-offs) +2.5 %

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).

302132 screens 205% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "AVIC Chengdu Aircraft Co Ltd Class A Fair Value". https://www.fairvalue-calculator.com/stock/302132

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 29 · Bottom 25%
Fair Value upside −67% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 80% · Top 25%
Dividend yield (TTM) 0.6% · Below median
Debt / equity 0.03× · Lower than median

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

P/B 1.00× · Cheaper than 75% of peers
P/S (TTM) 0.27× · Cheaper 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
PAST62 · sector 24
HEALTH98 · sector 98
DIVIDEND12 · 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 Aug 30, 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%
Fortive Corporation FTV $61.54 $33.48 −46%
Trimble Inc TRMB $56.99 $34.12 −40%
Cognex Corporation CGNX $60.79 $19.25 −68%
Wuhan Guide Infrared Co 002414 ¥12.97 ¥4.50 −65%

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Frequently asked questions

Is AVIC Chengdu Aircraft Co Ltd Class A (302132) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of ¥20.73 versus a price of ¥63.30, about −67% upside (overvalued).
What is the fair value of 302132?
Our model-based fair value for AVIC Chengdu Aircraft Co Ltd Class A is ¥20.73 (as of Aug 30, 2026), built from audited fundamentals. The current price: ¥63.30.
What is the quality score of 302132?
AVIC Chengdu Aircraft Co Ltd Class A has a Quality Score of 29/100. 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 AVIC Chengdu Aircraft Co Ltd Class A (302132)?
AVIC Chengdu Aircraft Co Ltd Class A reported trailing-twelve-month revenue of about 78.0B CNY (latest available figure, as of Aug 30, 2026).
What is the net profit margin of 302132?
The net profit margin of AVIC Chengdu Aircraft Co Ltd Class A is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does AVIC Chengdu Aircraft Co Ltd Class A pay a dividend?
AVIC Chengdu Aircraft Co Ltd Class A currently shows a dividend yield of about 0.61% relative to its recent price (as of Aug 30, 2026).
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