An Intrinsic Calculation For Kweichow Moutai Co., Ltd. (SHSE:600519) Suggests It's 32% Undervalued
Nov 25
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Chinese (SSE) Market Analysis & Valuation
UpdatedNov 26, 2024
DataAggregated Company Financials
Companies4988
- 7D-0.6%
- 3M25.8%
- 1Y3.2%
- YTD6.3%
The market has been flat in the last week, however the Financials sector is down 3.3%. More promisingly, the market is up 3.2% over the past year. Earnings are forecast to grow by 26% annually.
Market Valuation and Performance
Has the Chinese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 26 Nov 2024 | CN¥70.5t | CN¥49.9t | CN¥2.7t | 35.2x | 25.9x | 1.4x |
| Thu, 24 Oct 2024 | CN¥70.3t | CN¥50.3t | CN¥2.8t | 33.6x | 25x | 1.4x |
| Sat, 21 Sep 2024 | CN¥55.2t | CN¥50.3t | CN¥2.8t | 26.4x | 19.9x | 1.1x |
| Mon, 19 Aug 2024 | CN¥57.7t | CN¥50.7t | CN¥2.8t | 27.3x | 20.3x | 1.1x |
| Wed, 17 Jul 2024 | CN¥59.7t | CN¥50.7t | CN¥2.8t | 28.2x | 21.3x | 1.2x |
| Fri, 14 Jun 2024 | CN¥62.5t | CN¥50.8t | CN¥2.8t | 30x | 22.4x | 1.2x |
| Sun, 12 May 2024 | CN¥66.1t | CN¥50.8t | CN¥2.8t | 32.4x | 23.8x | 1.3x |
| Tue, 09 Apr 2024 | CN¥63.8t | CN¥49.9t | CN¥2.8t | 30.6x | 22.5x | 1.3x |
| Thu, 07 Mar 2024 | CN¥63.8t | CN¥51.2t | CN¥2.8t | 30.3x | 22.4x | 1.2x |
| Sat, 03 Feb 2024 | CN¥55.9t | CN¥51.6t | CN¥3.0t | 26.4x | 18.4x | 1.1x |
| Mon, 01 Jan 2024 | CN¥65.4t | CN¥49.8t | CN¥2.7t | 35.2x | 24.1x | 1.3x |
| Wed, 29 Nov 2023 | CN¥67.1t | CN¥49.8t | CN¥2.7t | 35.9x | 24.7x | 1.3x |
| Fri, 27 Oct 2023 | CN¥64.7t | CN¥49.7t | CN¥2.7t | 33.2x | 23.6x | 1.3x |
| Sun, 24 Sep 2023 | CN¥67.8t | CN¥49.6t | CN¥2.7t | 34.9x | 24.8x | 1.4x |
| Tue, 22 Aug 2023 | CN¥68.6t | CN¥49.3t | CN¥2.8t | 34.3x | 24.4x | 1.4x |
| Thu, 20 Jul 2023 | CN¥70.6t | CN¥49.1t | CN¥2.8t | 36.5x | 25x | 1.4x |
| Sat, 17 Jun 2023 | CN¥72.1t | CN¥49.1t | CN¥2.8t | 36.6x | 25.6x | 1.5x |
| Mon, 15 May 2023 | CN¥70.4t | CN¥48.9t | CN¥2.8t | 34.7x | 24.9x | 1.4x |
| Wed, 12 Apr 2023 | CN¥73.8t | CN¥48.3t | CN¥2.9t | 36x | 25.7x | 1.5x |
| Fri, 10 Mar 2023 | CN¥72.6t | CN¥47.8t | CN¥2.9t | 36.5x | 25.4x | 1.5x |
| Sun, 05 Feb 2023 | CN¥73.5t | CN¥47.5t | CN¥2.9t | 36x | 25.7x | 1.5x |
| Tue, 03 Jan 2023 | CN¥67.8t | CN¥47.6t | CN¥2.8t | 32.2x | 24x | 1.4x |
| Thu, 01 Dec 2022 | CN¥68.8t | CN¥47.5t | CN¥2.8t | 33.9x | 24.4x | 1.4x |
| Sat, 29 Oct 2022 | CN¥63.7t | CN¥47.1t | CN¥2.9t | 31.1x | 22.1x | 1.4x |
| Mon, 26 Sep 2022 | CN¥66.7t | CN¥46.6t | CN¥2.9t | 31.1x | 23.4x | 1.4x |
| Wed, 24 Aug 2022 | CN¥73.3t | CN¥46.4t | CN¥2.9t | 35.9x | 25.6x | 1.6x |
| Fri, 22 Jul 2022 | CN¥71.9t | CN¥46.1t | CN¥2.8t | 34.5x | 25.4x | 1.6x |
| Sun, 19 Jun 2022 | CN¥70.5t | CN¥46.1t | CN¥2.8t | 32.7x | 24.9x | 1.5x |
| Tue, 17 May 2022 | CN¥64.2t | CN¥46.1t | CN¥2.8t | 30.4x | 22.7x | 1.4x |
| Thu, 14 Apr 2022 | CN¥66.5t | CN¥45.2t | CN¥3.0t | 30.3x | 22.3x | 1.5x |
| Sat, 12 Mar 2022 | CN¥70.9t | CN¥44.6t | CN¥3.0t | 33.2x | 23.8x | 1.6x |
| Mon, 07 Feb 2022 | CN¥72.8t | CN¥44.1t | CN¥3.0t | 34.1x | 24.6x | 1.7x |
| Wed, 05 Jan 2022 | CN¥80.0t | CN¥43.8t | CN¥2.9t | 38.5x | 27.3x | 1.8x |
| Fri, 03 Dec 2021 | CN¥78.6t | CN¥43.7t | CN¥2.9t | 36.8x | 26.9x | 1.8x |
Price to Earnings Ratio
26.9x
Current Market PE
- Investors are relatively neutral on the Chinese market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 23.9x.
Past Earnings Growth
- The earnings for Chinese listed companies have declined 2.4% per year over the last three years.
- Meanwhile revenues for these companies have grown 4.6% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Sector Trends
Which sectors have driven the changes within the Chinese Market?
| CN Market | -0.62% | |
| Telecom | 2.07% | |
| Materials | 1.26% | |
| Consumer Discretionary | 1.12% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Healthcare | -0.19% | |
| Industrials | -0.24% | |
| Tech | -0.25% | |
| Energy | -1.43% | |
| Real Estate | -1.85% | |
| Utilities | -1.93% | |
| Consumer Staples | -2.76% | |
| Financials | -3.28% | |
Sector PE
- Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 48.7x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 41.5%, which is higher than its past year's earnings growth of 1.7% per year.
Forecasted Growth
- Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 42% over the next 5 years.
- This is better than its past earnings growth rate of 1.7% per year.
- In contrast, the Financials sector is expected to see its earnings grow by 11% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| 600104 SAIC Motor | CN¥18.37 | 11.2% +CN¥21.1b | 19.5% | PE21.8x | Consumer Discretionary | |
| 601360 360 Security Technology | CN¥13.72 | 25.1% +CN¥19.2b | 53.6% | PS12.1x | Tech | |
| 688256 Cambricon Technologies | CN¥485.90 | 5.4% +CN¥10.4b | 237.2% | PS270.7x | Tech | |
| 300119 Tianjin Ringpu Bio-TechnologyLtd | CN¥19.48 | -0.3% CN¥9.0b | 11.0% | PE42.4x | Healthcare | |
| 688506 Sichuan Biokin PharmaceuticalLtd | CN¥203.09 | 12.0% +CN¥8.7b | 85.3% | PE21.4x | Healthcare |
