Unisplendour stock: fair value
000938.SZThe fair value of Unisplendour under our model is $5.28, the price is 28% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Modestly undervaluedIn our model the price counts as cheap below $3.77 and expensive above $8.80 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $5.74 (cash-flow model) and $4.81 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 7.7%. At 8.7% the fair value would be $4.80, at 6.7% it would be $5.97.
Where the number comes from
Half from the cash-flow model, half from earnings times the sector P/E (30.1).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.3%. Discounted at 7.7% (government bond yield 2.3% plus beta 1.05 times a risk premium of 5.1%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $5.74 per share: free cash flow for the next ten years, each year discounted to today at 7.7%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 7.7%) |
|---|---|---|---|---|
| 2026 | $541.32M | extrapolated at 29.3% | 0.9284 | $502.57M |
| 2027 | $656.21M | extrapolated at 21.2% | 0.8620 | $565.63M |
| 2028 | $758.25M | extrapolated at 15.6% | 0.8003 | $606.8M |
| 2029 | $846.04M | extrapolated at 11.6% | 0.7430 | $628.59M |
| 2030 | $920.47M | extrapolated at 8.8% | 0.6898 | $634.94M |
| 2031 | $983.54M | extrapolated at 6.9% | 0.6404 | $629.88M |
| 2032 | $1.04B | extrapolated at 5.5% | 0.5946 | $616.89M |
| 2033 | $1.08B | extrapolated at 4.5% | 0.5520 | $598.71M |
| 2034 | $1.13B | extrapolated at 3.9% | 0.5125 | $577.35M |
| 2035 | $1.16B | extrapolated at 3.4% | 0.4758 | $554.25M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $5.92B |
| Terminal value: cash flow 2035 × (1 + 2.3%) / (7.7% − 2.3%) | $22.07B |
| Present value of terminal value (× 0.4758) | $10.5B |
| Equity value (sum plus present value of terminal value) | $16.42B |
| Shares (diluted) | 2.86B |
| Value per share (equity value divided by shares) | $5.74 |
| Earnings per share, last twelve months | $0.16 |
| × 30.1 (sector P/E) | $4.81 |
| Fair value (average of both parts) | $5.28 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CN¥6.6683)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 14 Aug 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.