China Minsheng Banking Corp., Ltd.

SHSE:600016 Stock Report

Market Cap: CN¥167.4b

China Minsheng Banking Valuation

Is 600016 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 600016 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600016 (CN¥4.05) is trading below our estimate of fair value (CN¥7.13)

Significantly Below Fair Value: 600016 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600016?

Key metric: As 600016 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600016. This is calculated by dividing 600016's market cap by their current earnings.
What is 600016's PE Ratio?
PE Ratio6.2x
EarningsCN¥28.42b
Market CapCN¥167.36b

Price to Earnings Ratio vs Peers

How does 600016's PE Ratio compare to its peers?

The above table shows the PE ratio for 600016 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average5.6x
601818 China Everbright Bank
6.7x11.2%CN¥199.5b
000001 Ping An Bank
5.2x5.6%CN¥228.0b
601169 Bank of Beijing
5.3x8.6%CN¥121.6b
601229 Bank of Shanghai
5.2x5.0%CN¥114.1b
600016 China Minsheng Banking
6.2x7.5%CN¥167.4b

Price-To-Earnings vs Peers: 600016 is expensive based on its Price-To-Earnings Ratio (6.2x) compared to the peer average (5.6x).

Price to Earnings Ratio vs Industry

How does 600016's PE Ratio compare vs other companies in the CN Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
600016 6.2xIndustry Avg. 5.8xNo. of Companies16PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 600016 is expensive based on its Price-To-Earnings Ratio (6.2x) compared to the CN Banks industry average (5.8x).

Price to Earnings Ratio vs Fair Ratio

What is 600016's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600016 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.2x
Fair PE Ratio6x

Price-To-Earnings vs Fair Ratio: 600016 is expensive based on its Price-To-Earnings Ratio (6.2x) compared to the estimated Fair Price-To-Earnings Ratio (6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 600016 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥4.05
CN¥3.80
-6.2%
16.0%CN¥4.63CN¥2.40n/a14
Nov ’25CN¥3.79
CN¥3.76
-0.8%
15.1%CN¥4.46CN¥2.40n/a14
Oct ’25CN¥4.02
CN¥3.74
-7.0%
14.8%CN¥4.46CN¥2.40n/a14
Sep ’25CN¥3.43
CN¥3.74
+9.0%
16.2%CN¥4.77CN¥2.40n/a13
Aug ’25CN¥3.54
CN¥3.78
+6.7%
18.2%CN¥5.05CN¥2.40n/a13
Jul ’25CN¥3.81
CN¥3.83
+0.5%
19.0%CN¥5.05CN¥2.40n/a13
Jun ’25CN¥3.91
CN¥3.85
-1.5%
19.6%CN¥5.05CN¥2.40n/a14
May ’25CN¥3.95
CN¥3.78
-4.3%
23.3%CN¥5.05CN¥2.40n/a12
Apr ’25CN¥4.02
CN¥3.74
-7.1%
23.1%CN¥5.05CN¥2.40n/a14
Mar ’25CN¥4.06
CN¥3.71
-8.7%
22.2%CN¥5.05CN¥2.40n/a14
Feb ’25CN¥3.92
CN¥3.71
-5.5%
21.5%CN¥5.05CN¥2.40n/a15
Jan ’25CN¥3.74
CN¥3.63
-2.9%
22.5%CN¥5.05CN¥2.09n/a15
Dec ’24CN¥3.87
CN¥3.56
-8.0%
22.0%CN¥4.85CN¥2.09n/a14
Nov ’24CN¥3.73
CN¥3.59
-3.7%
23.0%CN¥5.18CN¥2.09CN¥3.7914
Oct ’24CN¥3.84
CN¥3.68
-4.2%
23.6%CN¥5.18CN¥2.09CN¥4.0215
Sep ’24CN¥3.82
CN¥3.74
-2.0%
23.8%CN¥5.18CN¥2.09CN¥3.4316
Aug ’24CN¥4.01
CN¥3.73
-7.1%
23.9%CN¥5.18CN¥2.09CN¥3.5416
Jul ’24CN¥3.75
CN¥3.73
-0.6%
25.6%CN¥5.25CN¥2.09CN¥3.8115
Jun ’24CN¥3.91
CN¥3.64
-7.0%
28.0%CN¥5.35CN¥2.09CN¥3.9115
May ’24CN¥3.63
CN¥3.07
-15.5%
23.6%CN¥4.67CN¥2.09CN¥3.9513
Apr ’24CN¥3.45
CN¥3.04
-11.9%
25.6%CN¥4.67CN¥1.91CN¥4.0212
Mar ’24CN¥3.43
CN¥2.99
-13.0%
23.1%CN¥4.00CN¥1.91CN¥4.0612
Feb ’24CN¥3.50
CN¥2.97
-15.2%
22.8%CN¥4.00CN¥1.91CN¥3.9212
Jan ’24CN¥3.45
CN¥2.84
-17.6%
28.7%CN¥4.00CN¥1.50CN¥3.7412
Dec ’23CN¥3.51
CN¥2.83
-19.5%
28.5%CN¥4.00CN¥1.50CN¥3.8712
Nov ’23CN¥3.35
CN¥2.90
-13.5%
27.7%CN¥4.00CN¥1.50CN¥3.7313

Analyst Forecast: Target price is lower than the current share price.

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