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Foshan Haitian Flavouring and Food Co Ltd (603288) Fair Value & Analysis

Consumer Defensive · CN · Market cap 197B CNY (≈ $29.5B) · ISIN CNE100001SL2

What is Foshan Haitian Flavouring and Food Co Ltd really worth?

FH Foshan Haitian Flavouring and Food Co Ltd 603288 · SHG
Price¥34.40
Fair Value¥21.93
Upside−36.3%
Quality67/100

A solid business, but trading 57% above our fair value of ¥21.93.

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Strengths

Healthy Growth (revenue 5y +4.7 %/yr)
Highly profitable · 24.6% net margin
Low debt · generates free cash flow
Wide moat 82/100

Risks

!Mixed vs. peers (8/15)

For context

·3.08% dividend yield
Evidence: High Range ¥16.83 – ¥27.03

Fair value as of: Aug 24, 2026

From 26 valuation models · updated 12 days ago

Share price −7.0% 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 (¥27.03). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

¥95.38 ¥31.25 Fair Value ¥21.93 Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

60‑month range ¥31.25 – ¥95.38 · fair‑value band ¥16.83 – ¥27.03 · the ¥34.40 price screens above the ¥21.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 24, 2026.

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Analysis

Foshan Haitian Flavouring and Food Co Ltd (603288) currently trades at ¥34.40, while our model-based Fair Value estimate is ¥21.93, implying the stock looks roughly 56.9% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of ¥26.48 per share, and 1 of the 26 models we run sit above the ¥34.40 price. Bear case: the Asset-Based group reads lowest at ¥4.98, and 25 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Foshan Haitian Flavouring and Food Co Ltd generated revenue of 29.6B CNY at a net margin of 24.6%. Revenue grew 8.6% year over year. It earns a return on equity of 19.1%. The balance sheet holds a net cash position of 8.6B CNY. Fundamentals as of Aug 24, 2026

Our scenario range runs from ¥16.83 (bear case) to ¥27.03 (bull case); at ¥34.40, 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 19% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −25% fair-value upside, at −36%, 603288 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 ¥0.1286 per share, which is 0.6 % 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 ¥17.82 ¥29.20 ¥48.06 78
Growth DCF ¥17.85 ¥28.68 ¥46.37 77
Owner Earnings ¥16.38 ¥26.74 ¥43.91 75
All 26 models by family
DCF Models
FCF DCF ¥17.82 ¥29.20 ¥48.06 78
Owner Earnings ¥16.38 ¥26.74 ¥43.91 75
5Y Revenue Exit ¥10.64 ¥14.99 ¥20.50 73
5Y EBITDA Exit ¥16.42 ¥26.48 ¥38.70 74
5Y P/E Exit ¥19.24 ¥32.10 ¥46.36 70
10Y Revenue Exit ¥12.81 ¥17.62 ¥24.20 67
10Y EBITDA Exit ¥16.76 ¥25.87 ¥38.91 68
10Y P/E Exit ¥18.61 ¥29.91 ¥45.11 63
Earnings-Based
Graham-Dodd ¥8.61 ¥35.00 ¥47.64 64
Lynch FV ¥8.76 ¥12.52 ¥16.27 61
PEG = 1.0 ¥8.76 ¥12.52 ¥16.27 57
EPV ¥12.66 ¥14.47 ¥16.05 74
Dividend Discount
Gordon GGM ¥10.42 ¥21.67 ¥34.38 66
DDM Multi-Stage ¥10.42 ¥18.28 ¥22.75 66
Multiples
P/E Multiple ¥19.94 ¥26.58 ¥33.23 63
P/S Multiple ¥6.20 ¥8.26 ¥10.33 58
P/B Multiple ¥16.14 ¥21.52 ¥26.90 55
EV/EBIT ¥19.89 ¥25.92 ¥31.95 66
EV/EBITDA ¥17.11 ¥22.20 ¥27.30 67
EV/Revenue ¥7.23 ¥9.56 ¥11.88 54
Asset-Based
NCAV (Graham) ¥3.72 ¥4.98 ¥7.43 54
Growth DCF
Growth DCF ¥17.85 ¥28.68 ¥46.37 77
Rev-Margin DCF ¥10.64 ¥15.11 ¥20.69 73
Economic Profit
Residual Income ¥8.17 ¥9.96 ¥20.94 71
ROIC Compounder ¥13.91 ¥17.82 ¥22.78 72
Growth Earnings
Growth-Adj P/E ¥15.22 ¥21.75 ¥28.27 67

Widest divergence: DCF Models (¥26.48) versus Asset-Based (¥4.98). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 27.0 as of Jul 13, 2026
P/S ratio 6.61 P/E × margin
EPS (TTM) ¥1.25 price ÷ EPS = P/E 27.0
Dividend yield 3.1% payout 84.8%
Net margin 24.5% FY2025
Return on equity 19.1% TTM
More key figures
Profitability
Return on assets (EBIT) 19.2% avg 5y
Operating margin 31.1% TTM
Growth
Revenue (TTM) 29.6B CNY TTM
Revenue growth (YoY) +8.6% 3y avg +3.9%
EPS growth (YoY) +5.0%
Balance sheet & cash flow
Free cash flow 7.2B CNY FY2025
Net cash 8.6B CNY FY2025

Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 68 · Market factors (momentum, volatility) 51

Profitability 63
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 61
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

Foshan Haitian Flavouring and Food Company Ltd. engages in the production and sale of condiments, food and agricultural products, and beverages in China. The company offers soybean paste, soy sauce, flavoured sauce, oyster sauce, vinegar, cooking wine, and compound seasonings.

Full company description

Foshan Haitian Flavouring and Food Company Ltd. engages in the production and sale of condiments, food and agricultural products, and beverages in China. The company offers soybean paste, soy sauce, flavoured sauce, oyster sauce, vinegar, cooking wine, and compound seasonings. It also engages in packaging materials and glass bottles packaging and catering services. The company exports its products worldwide. The company was founded in 1955 and is headquartered in Foshan, China. Foshan Haitian Flavouring and Food Company Ltd. operates as a subsidiary of Guangdong Haitian Group Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Foshan Haitian Flavouring and Food Co Ltd reported revenue of 28.7B CNY in FY2025 versus 25.0B CNY in FY2021, a compound +3.5%/yr. Reported net income was 7.0B CNY in FY2025, compounding +1.4%/yr from FY2021.

Growth Quality 78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
28.7B CNY
Latest YoY
+6.7%
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.
+3.9%
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.
+4.7%
Avg. revenue growth/yr (16Y) 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.
+12.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+4.4% (1.3 + 3.1)
Revenue +3.5%/yr
FY21 25.0B CNY
FY22 25.6B CNY
FY23 24.6B CNY
FY24 26.9B CNY
FY25 28.7B CNY
Net income +1.4%/yr
FY21 6.7B CNY
FY22 6.2B CNY
FY23 5.6B CNY
FY24 6.3B CNY
FY25 7.0B CNY
Character of growth · EPS growth decomposed (2014-2025) +9.9 % p.a.
Revenue per share +9.1 %

of which total revenue +10.2 % · buybacks/dilution −0.9 %

EBIT margin +0.6 %
Tax rate +0.0 %
Residual (interest, one-offs) +0.2 %

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).

603288 screens 57% overvalued. Compare with Nestlé S.A →

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Cite: Fair Value Calculator (2026). "Foshan Haitian Flavouring and Food Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603288

Peer Group

Packaged Foods · 648 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 67 · Top 25%
Fair Value upside −36% · Below median
Return on equity (TTM) 19% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 31% · Top 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 27.0× · Pricier than median
P/B 4.77× · Pricier than 75% of peers
P/S (TTM) 6.67× · Pricier than 75% of peers
P/FCF 4.1× · Pricier than median
EV/EBITDA 20.8× · Pricier than 75% of peers
PEG 2.39× · 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 25
FUTURE43 · sector 21
PAST77 · sector 28
HEALTH100 · sector 96
DIVIDEND62 · sector 53

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

Insider activity: 40/100

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 Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 24, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $40.44 $28.32 −30%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%
McCormick & Company MKCV $55.65 $43.29 −22%

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Frequently asked questions

Is Foshan Haitian Flavouring and Food Co Ltd (603288) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of ¥21.93 versus a price of ¥34.40, about −36% upside (overvalued).
What is the fair value of 603288?
Our model-based fair value for Foshan Haitian Flavouring and Food Co Ltd is ¥21.93 (as of Aug 24, 2026), built from audited fundamentals. The current price: ¥34.40.
What is the quality score of 603288?
Foshan Haitian Flavouring and Food Co Ltd has a Quality Score of 67/100. 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 Foshan Haitian Flavouring and Food Co Ltd (603288)?
Foshan Haitian Flavouring and Food Co Ltd reported trailing-twelve-month revenue of about 29.6B CNY (latest available figure, as of Aug 24, 2026).
What is the net profit margin of 603288?
The net profit margin of Foshan Haitian Flavouring and Food Co Ltd is about 24.6%, meaning it keeps roughly 24.6% of revenue as net income. Based on the latest reported figures.
Does Foshan Haitian Flavouring and Food Co Ltd pay a dividend?
Foshan Haitian Flavouring and Food Co Ltd currently shows a dividend yield of about 3.08% relative to its recent price (as of Aug 24, 2026).
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