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Shaanxi Coal Industry Co Ltd (601225) Fair Value & Analysis

Energy · CN · Market cap 236B CNY (≈ $35.2B) · ISIN CNE100001T64

What is Shaanxi Coal Industry Co Ltd really worth?

SC Shaanxi Coal Industry Co Ltd 601225 · SHG
Price¥26.24
Fair Value¥23.90
Upside−8.9%
Quality58/100

A solid business, currently priced close to our fair value of ¥23.90.

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Strengths

Solidly profitable · 10.3% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)

Risks

!Mixed Growth (revenue 5y +10.7 %/yr)
!Moderate moat 58/100
!Weak on valuation: 21 out of 100

For context

·3.61% dividend yield
Evidence: High Range ¥17.92 – ¥29.87

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price +9.8% 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)

¥27.81 ¥8.28 Fair Value ¥23.90 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥8.28 – ¥27.81 · fair‑value band ¥17.92 – ¥29.87 · the ¥26.24 price screens above the ¥23.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Shaanxi Coal Industry Co Ltd (601225) currently trades at ¥26.24, while our model-based Fair Value estimate is ¥23.90, implying the stock looks roughly 9.8% fairly valued today. The Quality Score stands at 58/100 (solid quality), in the Energy sector. Bull case: the DCF Models group reads highest at a median of ¥34.52 per share, and 16 of the 26 models we run sit above the ¥26.24 price. Bear case: the Asset-Based group reads lowest at ¥9.52, and 10 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Shaanxi Coal Industry Co Ltd generated revenue of 157B CNY at a net margin of 10.3%. Revenue declined 3.0% year over year. It earns a return on equity of 18.5%. The balance sheet holds a net cash position of 13.6B CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥17.92 (bear case) to ¥29.87 (bull case); at ¥26.24, 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 7% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −27% fair-value upside, at −9%, 601225 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 ¥0.4906 per share, which is 2.1 % 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 ¥26.84 ¥48.85 ¥88.95 77
Growth DCF ¥26.73 ¥47.29 ¥84.39 75
5Y EBITDA Exit ¥22.72 ¥38.66 ¥58.53 74
All 26 models by family
DCF Models
FCF DCF best evidence ¥26.84 ¥48.85 ¥88.95 77
Owner Earnings ¥19.13 ¥34.52 ¥62.55 73
5Y Revenue Exit ¥18.52 ¥30.00 ¥45.33 72
5Y EBITDA Exit ¥22.72 ¥38.66 ¥58.53 74
5Y P/E Exit ¥20.59 ¥34.28 ¥49.79 70
10Y Revenue Exit ¥20.54 ¥32.52 ¥50.43 66
10Y EBITDA Exit ¥23.88 ¥39.02 ¥61.75 67
10Y P/E Exit ¥22.43 ¥35.73 ¥54.26 63
Earnings-Based
Graham-Dodd ¥11.61 ¥53.87 ¥74.00 64
Lynch FV ¥14.21 ¥20.29 ¥26.38 61
PEG = 1.0 ¥14.21 ¥20.29 ¥26.38 57
EPV ¥18.54 ¥21.59 ¥24.30 74
Dividend Discount
Gordon GGM ¥12.87 ¥28.11 ¥47.29 65
DDM Multi-Stage ¥12.87 ¥23.02 ¥29.29 66
Multiples
P/E Multiple ¥17.92 ¥23.90 ¥29.87 63
P/S Multiple ¥14.68 ¥19.58 ¥24.47 58
P/B Multiple ¥19.19 ¥25.59 ¥31.98 55
EV/EBIT ¥26.38 ¥34.77 ¥43.15 66
EV/EBITDA ¥22.47 ¥29.55 ¥36.63 67
EV/Revenue ¥14.94 ¥20.82 ¥26.69 54
Asset-Based
NCAV (Graham) ¥7.11 ¥9.52 ¥14.21 54
Growth DCF
Growth DCF ¥26.73 ¥47.29 ¥84.39 75
Rev-Margin DCF ¥18.52 ¥29.87 ¥44.57 72
Economic Profit
Residual Income ¥13.44 ¥15.73 ¥27.13 74
ROIC Compounder ¥20.46 ¥28.20 ¥39.30 71
Growth Earnings
Growth-Adj P/E ¥18.51 ¥26.44 ¥34.38 67

Widest divergence: DCF Models (¥34.52) versus Asset-Based (¥9.52). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 15.7
P/S ratio 1.64 P/E × margin
EPS (TTM) ¥1.67 price ÷ EPS = P/E 15.7
Dividend yield 3.6% payout 56.8%
Net margin 10.5% FY2025
Return on equity 18.5% TTM
More key figures
Profitability
Return on assets (EBIT) 21.8% avg 5y
Operating margin 20.0% TTM
Growth
Revenue (TTM) 157B CNY TTM
Revenue growth (YoY) −3.0% 3y avg −1.8%
EPS growth (YoY) −12.4%
Balance sheet & cash flow
Free cash flow 18.2B CNY FY2025
Net cash 13.6B CNY FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 62

Profitability 44
Margins and returns on capital today
Quality Growth 13
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 82
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

Shaanxi Coal Industry Company Limited, together with its subsidiaries, engages in the production and sales of coal and electricity in China and internationally. The company's coal properties are primarily located in Northern Shaanxi, Weibei, and Binhuang. Its coal products are mainly used in the power, chemical, and metallurgical industries.

Full company description

Shaanxi Coal Industry Company Limited, together with its subsidiaries, engages in the production and sales of coal and electricity in China and internationally. The company's coal properties are primarily located in Northern Shaanxi, Weibei, and Binhuang. Its coal products are mainly used in the power, chemical, and metallurgical industries. The company was founded in 2008 and is based in Xi'an, China. Shaanxi Coal Industry Company Limited operates as a subsidiary of Shaanxi Coal and Chemical Industry Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shaanxi Coal Industry Co Ltd reported revenue of 158B CNY in FY2025 versus 152B CNY in FY2021, a compound +1.0%/yr. Reported net income was 16.5B CNY in FY2025, compounding −6.2%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
158B CNY
Latest YoY
−14.1%
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.
−1.8%
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.
+10.7%
Avg. revenue growth/yr (17Y) 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.
+15.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+5.8% (2.2 + 3.6)
Revenue +1.0%/yr
FY21 152B CNY
FY22 167B CNY
FY23 181B CNY
FY24 184B CNY
FY25 158B CNY
Net income −6.2%/yr
FY21 21.4B CNY
FY22 35.2B CNY
FY23 23.1B CNY
FY24 22.4B CNY
FY25 16.5B CNY
Character of growth · EPS growth decomposed (2014-2025) +30.7 % p.a.
Revenue per share +18.8 %

of which total revenue +18.8 % · buybacks/dilution +0.0 %

EBIT margin +7.9 %
Tax rate −0.7 %
Residual (interest, one-offs) +2.7 %

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). "Shaanxi Coal Industry Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/601225

Peer Group

Thermal Coal · 99 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 −9% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth −3% · Below median
Dividend yield (TTM) 3.6% · Above median
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Thermal Coal median · lower = cheaper

P/E (TTM) 15.7× · Pricier than median
P/B 1.71× · Pricier than median
P/S (TTM) 1.50× · Pricier than median
P/FCF 1.9× · Cheaper than median
EV/EBITDA 5.4× · Cheaper than median

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
VALUE21 · sector 8
FUTURE0 · sector 0
PAST74 · sector 21
HEALTH93 · sector 93
DIVIDEND72 · sector 54

Insider activity: 45/100

Values & ESG

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

Coal Oil & gas

Similar stocks

10 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Shenhua Energy Company 601088 ¥48.05 ¥34.97 −27%
PT Bayan Resources Tbk., BYAN 15,325 IDR 3,542 IDR −77%
Adani Enterprises Limited ADANIENT ₹2,965 ₹891.11 −70%
Yankuang Energy Group 600188 ¥21.60 ¥13.24 −39%
Coal India Limited COALINDIA ₹417.85 ₹464.01 +11%
533278 533278 ₹406.50 ₹660.78 +63%
China Coal Energy Company 601898 ¥13.93 ¥13.91 +0%
PT Dian Swastatika Sentosa Tbk, DSSA 1,145 IDR 352.75 IDR −69%
Inner Mongolia Dian Tou Energy Corporation 002128 ¥26.48 ¥20.72 −22%
Shanxi Lu'an Environmental Energy Development Co 601699 ¥16.27 ¥7.20 −56%

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Frequently asked questions

Is Shaanxi Coal Industry Co Ltd (601225) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥23.90 versus a price of ¥26.24, about −9% upside (fairly valued).
What is the fair value of 601225?
Our model-based fair value for Shaanxi Coal Industry Co Ltd is ¥23.90 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥26.24.
What is the quality score of 601225?
Shaanxi Coal Industry 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 Shaanxi Coal Industry Co Ltd (601225)?
Shaanxi Coal Industry Co Ltd reported trailing-twelve-month revenue of about 157B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 601225?
The net profit margin of Shaanxi Coal Industry Co Ltd is about 10.3%, meaning it keeps roughly 10.3% of revenue as net income. Based on the latest reported figures.
Does Shaanxi Coal Industry Co Ltd pay a dividend?
Shaanxi Coal Industry Co Ltd currently shows a dividend yield of about 3.61% relative to its recent price (as of Aug 13, 2026).
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