Bank of Hangzhou Co., Ltd.

XSSC:600926 Stock Report

Market Cap: CN¥83.4b

Bank of Hangzhou Valuation

Is 600926 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 600926 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600926 (CN¥13.91) is trading below our estimate of fair value (CN¥28.52)

Significantly Below Fair Value: 600926 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600926?

Key metric: As 600926 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 600926. This is calculated by dividing 600926's market cap by their current earnings.
What is 600926's PE Ratio?
PE Ratio5.3x
EarningsCN¥15.87b
Market CapCN¥83.45b

Price to Earnings Ratio vs Peers

How does 600926's PE Ratio compare to its peers?

The above table shows the PE ratio for 600926 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average5.7x
601838 Bank of Chengdu
4.9x11.6%CN¥60.0b
601009 Bank of Nanjing
5.9x10.2%CN¥111.3b
600919 Bank of Jiangsu
5.6x11.9%CN¥166.3b
002142 Bank of Ningbo
6.3x9.2%CN¥164.0b
600926 Bank of Hangzhou
5.3x15.8%CN¥83.4b

Price-To-Earnings vs Peers: 600926 is good value based on its Price-To-Earnings Ratio (5.3x) compared to the peer average (5.7x).

Price to Earnings Ratio vs Industry

How does 600926'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
600926 5.3xIndustry Avg. 5.8xNo. of Companies17PE0612182430+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 600926 is good value based on its Price-To-Earnings Ratio (5.3x) compared to the CN Banks industry average (5.8x).

Price to Earnings Ratio vs Fair Ratio

What is 600926'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.

600926 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.3x
Fair PE Ratio6.5x

Price-To-Earnings vs Fair Ratio: 600926 is good value based on its Price-To-Earnings Ratio (5.3x) compared to the estimated Fair Price-To-Earnings Ratio (6.5x).

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 600926 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥13.91
CN¥15.62
+12.3%
17.5%CN¥21.10CN¥12.80n/a10
Nov ’25CN¥13.94
CN¥15.62
+12.0%
17.5%CN¥21.10CN¥12.80n/a10
Oct ’25CN¥14.10
CN¥15.25
+8.1%
16.6%CN¥21.10CN¥12.80n/a10
Sep ’25CN¥12.74
CN¥15.25
+19.7%
16.6%CN¥21.10CN¥12.80n/a10
Aug ’25CN¥13.43
CN¥14.34
+6.8%
10.7%CN¥18.28CN¥12.80n/a10
Jul ’25CN¥13.50
CN¥14.34
+6.3%
10.7%CN¥18.28CN¥12.80n/a10
Jun ’25CN¥13.59
CN¥14.13
+4.0%
12.8%CN¥18.28CN¥10.60n/a11
May ’25CN¥12.90
CN¥13.02
+0.9%
20.2%CN¥17.06CN¥7.58n/a11
Apr ’25CN¥11.29
CN¥12.68
+12.3%
19.7%CN¥17.06CN¥7.58n/a13
Mar ’25CN¥11.00
CN¥12.53
+13.9%
20.3%CN¥17.06CN¥7.58n/a12
Feb ’25CN¥10.67
CN¥12.53
+17.4%
20.3%CN¥17.06CN¥7.58n/a12
Jan ’25CN¥10.01
CN¥13.55
+35.3%
25.0%CN¥18.76CN¥7.09n/a13
Dec ’24CN¥9.97
CN¥14.10
+41.4%
21.4%CN¥18.76CN¥7.09n/a13
Nov ’24CN¥10.66
CN¥14.10
+32.3%
21.4%CN¥18.76CN¥7.09CN¥13.9413
Oct ’24CN¥11.16
CN¥15.30
+37.1%
14.3%CN¥18.76CN¥12.20CN¥14.1011
Sep ’24CN¥11.41
CN¥15.51
+36.0%
12.8%CN¥18.76CN¥12.90CN¥12.7411
Aug ’24CN¥12.11
CN¥17.03
+40.7%
26.2%CN¥29.99CN¥12.90CN¥13.4311
Jul ’24CN¥11.75
CN¥17.49
+48.8%
25.3%CN¥29.99CN¥12.90CN¥13.5011
Jun ’24CN¥11.57
CN¥17.50
+51.2%
25.2%CN¥29.99CN¥13.00CN¥13.5911
May ’24CN¥12.56
CN¥16.49
+31.3%
14.9%CN¥20.42CN¥13.00CN¥12.9011
Apr ’24CN¥11.61
CN¥17.35
+49.5%
19.6%CN¥24.04CN¥13.00CN¥11.2910
Mar ’24CN¥12.24
CN¥17.35
+41.8%
19.6%CN¥24.04CN¥13.00CN¥11.0010
Feb ’24CN¥13.04
CN¥17.76
+36.2%
17.1%CN¥24.04CN¥13.00CN¥10.6710
Jan ’24CN¥13.08
CN¥17.93
+37.1%
16.8%CN¥24.04CN¥13.00CN¥10.019
Dec ’23CN¥13.15
CN¥17.93
+36.4%
16.8%CN¥24.04CN¥13.00CN¥9.979
Nov ’23CN¥12.33
CN¥17.93
+45.4%
16.8%CN¥24.04CN¥13.00CN¥10.669

Analyst Forecast: Target price is less than 20% higher than the current share price.

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