Spring Airlines Co (SHSE:601021) ROE % Adjusted to Book Value: 8.83% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

SHSE:601021 Spring Airlines Co Ltd SHSE:601021
76 GF Score
Price ¥45.56
GF Value ¥66.34
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Spring Airlines Co ROE % Adjusted to Book Value?

Spring Airlines Co SHSE:601021 -0.78% 76 ROE % Adjusted to Book Value is 8.83% as of Mar. 2026. GuruFocus rates SHSE:601021 with a GF Score™ of 76/100 and a GF Value™ of ¥66.34 (Significantly Undervalued). The stock has 3 warning signs investors should review.

Spring Airlines Co's ROE % for the quarter that ended in Mar. 2026 was 21.36%. Spring Airlines Co's PB Ratio for the quarter that ended in Mar. 2026 was 2.42. Spring Airlines Co's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 was 8.83%.


Spring Airlines Co ROE % Adjusted to Book Value Related Terms


Spring Airlines Co ROE % Adjusted to Book Value Historical Data

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The historical data trend for Spring Airlines Co's ROE % Adjusted to Book Value can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Spring Airlines Co ROE % Adjusted to Book Value Chart

Spring Airlines Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE % Adjusted to Book Value
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.08 -4.82 4.91 4.22 4.08

Spring Airlines Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROE % Adjusted to Book Value Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.38 3.58 9.08 -0.13 8.83

SHSE:601021 vs DAL, UAL, LUV: ROE % Adjusted to Book Value Comparison

For the Airlines subindustry, Spring Airlines Co's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book Value data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Spring Airlines Co ROE % Adjusted to Book Value vs Transportation Industry

For the Transportation industry and Industrials sector, Spring Airlines Co's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where Spring Airlines Co's ROE % Adjusted to Book Value falls into.


SHSE:601021
76GF Score
Spring Airlines Co Ltd SHSE:601021
ROE % Adjusted to Book Value is just one metric. See GF Score™, valuation, warning signs, and more.
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Spring Airlines Co ROE % Adjusted to Book Value Calculation

Spring Airlines Co's ROE % Adjusted to Book Value for the fiscal year that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=13.04% / 3.20
=4.08%

Spring Airlines Co's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=21.36% / 2.42
=8.83%

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a ROE % Adjusted to Book Value of 8.83% mean?
Spring Airlines Co (SHSE:601021) has a ROE % Adjusted to Book Value of 8.83% as of Mar. 2026. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Spring Airlines Co and its competitors.
Is Spring Airlines Co's ROE % Adjusted to Book Value too high?
Spring Airlines Co's current ROE % Adjusted to Book Value is 8.83%. Overall, Spring Airlines Co has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spring Airlines Co's ROE % Adjusted to Book Value compare to DAL and UAL?
Spring Airlines Co's ROE % Adjusted to Book Value of 8.83% can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % Adjusted to Book Value for a Transportation company?
A good ROE % Adjusted to Book Value depends on the Transportation industry context. However, ROE % Adjusted to Book Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % Adjusted to Book Value mean?
A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Spring Airlines Co and its competitors. Spring Airlines Co's current ROE % Adjusted to Book Value is 8.83%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spring Airlines Co stock overvalued right now?
Based on GuruFocus' analysis, Spring Airlines Co (SHSE:601021) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥66.34, compared to a current price of ¥45.56 — trading 31.3% below its estimated fair value. The current ROE % Adjusted to Book Value is 8.83%. Spring Airlines Co's overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % Adjusted to Book Value calculated?
ROE % Adjusted to Book Value is calculated from a company's financial statements. For Spring Airlines Co (SHSE:601021), the current ROE % Adjusted to Book Value is 8.83% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Spring Airlines Co (SHSE:601021) Overvalued in 2026?

Based on GuruFocus' analysis, Spring Airlines Co stock appears to be undervalued. The current stock price of ¥45.56 is trading 31.3% below its estimated GF Value™ of ¥66.34. GuruFocus considers Spring Airlines Co to be Significantly Undervalued.

Key valuation signals for SHSE:601021:

  • ROE % Adjusted to Book Value: 8.83%
  • GF Value™: ¥66.34 vs. price of ¥45.56 (31.3% below fair value)
  • GF Score™: 76/100 with 3 warning signs

No single metric tells the full story. See the SHSE:601021 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Spring Airlines Co Business Description

Address No. 2599, Hongqiao Road, Spring Airlines Headquarters Office Building, Changning District, Shanghai, CHN, 200335
Spring Airlines Co Ltd is a China-based airline company, principally engaged in the airline transportation of passengers and freight. The company focuses on providing passenger and cargo air transportation services across mainland China, international routes, as well as Hong Kong, Macao, and Taiwan, along with other activities connected to the air transport industry.
76GF Score

Get the complete analysis for SHSE:601021

ROE % Adjusted to Book Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

¥45.56
Price
¥66.34
GF Value