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600235.SS$6.17+3.18%
Fair $6.17+0.0%

600235.SS

Minfeng Special Paper Co.,Ltd.

Basic Materials / Paper & Paper ProductsShanghai

$6.17

+0.19 (+3.18%)

Fairly Valued+0.0%Fair Value $6.17Fund rank 24/100 · Data gapFallback financials|
SA 25/D
F-Score: 4/9
Declining RevenueLow Profitability

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 34% · confianza 16%

FCF escenarios

weak_data · normalized FCF $-217.7M · quality 37.7/100

Data gap 24/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 17/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

25/100

D

Piotroski

4/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 2unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific commodity mid-cycle model required: targets are disabled until normalized cycle price/cost-curve/reserve data exists. Revenue has declined for 3 consecutive years ROE is 1.1%, below the 5% threshold
Thesis & Journal · 600235.SSLocal privado en este navegador · Minfeng Special Paper Co.,Ltd.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$2.2B

P/E

205.7x

↑

EV/EBITDA

22.4x

↑

ROE

1.1%

↑

Gross Margin

15.4%

↓

Debt/Equity

0.75

↑
52-Week Range$6
$6$8

TradingView lightweight chart

600235.SS price, volumen y niveles de valoración

Último $6.170Periodo -17.9%
Fair value: $6.170

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

-10.3%

FCF CAGR

-16.5%

FCF margin

7.1%

FCF / Net income

5.26x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $1.20B · net income $16.3M · FCF $85.7M

2022-FY → 2025-FY

Gross margin

15.4%+3.3% pts

Operating margin

3.4%+0.7% pts

Net margin

1.4%+0.4% pts

FCF margin

7.1%-1.7% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$1.20B$1.20B$1.46B$1.62B$1.67B
Net Income$16.3M$16.3M$72.0M$46.7M$15.4M
EBITDA$134.4M$134.4M$163.4M$140.8M$112.6M
EPS0.050.050.200.130.04
Gross Margin15.4%15.4%16.5%13.8%12.0%
Operating Margin3.4%3.4%6.5%4.3%2.7%
Net Margin1.4%1.4%4.9%2.9%0.9%
Balance Sheet
Debt/Equity0.750.750.820.570.41
Current Ratio0.880.88———
Cash Flow
Free Cash Flow$85.7M$85.7M$-388.7M$-217.7M$147.0M
Returns
ROE1.1%1.1%4.8%3.2%1.1%
Valuation
P/E205.67205.6727.1048.08141.50
EV/EBITDA22.3822.3818.4020.4422.82
P/B1.331.331.301.551.55
Growth & Yield
Revenue Growth-17.4%-17.4%-9.8%-3.2%—
EPS Growth-75.0%-75.0%53.8%225.0%—
Dividend Yield0.2%0.2%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

122.1%

muy exigente

EPS terminal req.

$0.55

Spread vs growth

-197.1%

5Y implied EPS CAGR

67.7%

muy exigente

EPS terminal req.

$0.66

Spread vs growth

-142.7%

10Y implied EPS CAGR

35.8%

muy exigente

EPS terminal req.

$1.07

Spread vs growth

-110.8%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +2.1%

Total return

+2.1%

Start / end P/E

30.3x → 123.4x

EPS bridge

0.20 → 0.05

Residual

-230.4%

EPS growth-75.0%
Multiple rerating+307.3%
Dividend+0.2%
Residual / FX / buybacks / cross-term-230.4%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.