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776

GF Securities SZSE:000776 Stock Report

Last Price

CN¥18.48

Market Cap

CN¥124.2b

7D

-1.4%

1Y

25.5%

Updated

02 Jul, 2022

Data

Company Financials +
776 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance2/6
Financial Health3/6
Dividends4/6

776 Stock Overview

GF Securities Co., Ltd. provides capital market services for corporations, individuals, institutional investors, financial institutions, and government clients in the People’s Republic of China.

GF Securities Competitors

Price History & Performance

Summary of all time highs, changes and price drops for GF Securities
Historical stock prices
Current Share PriceCN¥18.48
52 Week HighCN¥27.22
52 Week LowCN¥14.21
Beta0.73
1 Month Change9.35%
3 Month Change3.01%
1 Year Change25.46%
3 Year Change33.05%
5 Year Change8.83%
Change since IPO-32.87%

Recent News & Updates

Shareholder Returns

776CN Capital MarketsCN Market
7D-1.4%-1.8%1.3%
1Y25.5%-10.1%-6.8%

Return vs Industry: 000776 exceeded the CN Capital Markets industry which returned -10.1% over the past year.

Return vs Market: 000776 exceeded the CN Market which returned -6.8% over the past year.

Price Volatility

Is 776's price volatile compared to industry and market?
776 volatility
776 Average Weekly Movement6.2%
Capital Markets Industry Average Movement5.9%
Market Average Movement7.2%
10% most volatile stocks in CN Market10.2%
10% least volatile stocks in CN Market5.1%

Stable Share Price: 000776 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 000776's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199113,174Chuanhui Linhttps://www.gf.com.cn

GF Securities Co., Ltd. provides capital market services for corporations, individuals, institutional investors, financial institutions, and government clients in the People’s Republic of China. It operates through four segments: Investment Banking; Wealth Management; Trading and Institution; and Investment Management. The Investment Banking segment offers equity and debt finance; and financial advisory services, such as mergers and acquisition, and restructuring.

GF Securities Fundamentals Summary

How do GF Securities's earnings and revenue compare to its market cap?
776 fundamental statistics
Market CapCN¥124.19b
Earnings (TTM)CN¥9.62b
Revenue (TTM)CN¥29.15b

14.6x

P/E Ratio

4.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
776 income statement (TTM)
RevenueCN¥29.15b
Cost of RevenueCN¥15.69b
Gross ProfitCN¥13.45b
Other ExpensesCN¥3.84b
EarningsCN¥9.62b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.26
Gross Margin46.16%
Net Profit Margin32.99%
Debt/Equity Ratio246.8%

How did 776 perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

40%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 776 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 776?

Other financial metrics that can be useful for relative valuation.

776 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does 776's PE Ratio compare to its peers?

776 PE Ratio vs Peers
The above table shows the PE ratio for 776 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.4x
601211 Guotai Junan Securities
10.5x18.2%CN¥133.2b
600999 China Merchants Securities
12.8x13.0%CN¥115.2b
601688 Huatai Securities
10.4x17.4%CN¥119.0b
600837 Haitong Securities
11.9x13.7%CN¥110.6b
000776 GF Securities
14.6x19.1%CN¥124.2b

Price-To-Earnings vs Peers: 000776 is expensive based on its Price-To-Earnings Ratio (14.6x) compared to the peer average (11.4x).


Price to Earnings Ratio vs Industry

How does 776's PE Ratio compare vs other companies in the CN Capital Markets Industry?

Price-To-Earnings vs Industry: 000776 is good value based on its Price-To-Earnings Ratio (14.6x) compared to the CN Capital Markets industry average (20x)


Price to Earnings Ratio vs Fair Ratio

What is 776'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.

776 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.6x
Fair PE Ratio20.7x

Price-To-Earnings vs Fair Ratio: 000776 is good value based on its Price-To-Earnings Ratio (14.6x) compared to the estimated Fair Price-To-Earnings Ratio (20.7x).


Share Price vs Fair Value

What is the Fair Price of 776 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 000776 (CN¥18.48) is trading above our estimate of fair value (CN¥17.6)

Significantly Below Fair Value: 000776 is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: 000776 is good value based on its PEG Ratio (0.8x)


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Future Growth

How is GF Securities forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


19.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 000776's forecast earnings growth (19.1% per year) is above the savings rate (3.2%).

Earnings vs Market: 000776's earnings (19.1% per year) are forecast to grow slower than the CN market (23.9% per year).

High Growth Earnings: 000776's earnings are forecast to grow, but not significantly.

Revenue vs Market: 000776's revenue (15.2% per year) is forecast to grow slower than the CN market (17.5% per year).

High Growth Revenue: 000776's revenue (15.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 000776's Return on Equity is forecast to be low in 3 years time (10.2%).


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Past Performance

How has GF Securities performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


8.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 000776 has high quality earnings.

Growing Profit Margin: 000776's current net profit margins (33%) are lower than last year (34.5%).


Past Earnings Growth Analysis

Earnings Trend: 000776's earnings have grown by 8.2% per year over the past 5 years.

Accelerating Growth: 000776's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 000776 had negative earnings growth (-8.5%) over the past year, making it difficult to compare to the Capital Markets industry average (2.4%).


Return on Equity

High ROE: 000776's Return on Equity (9.7%) is considered low.


Discover strong past performing companies

Financial Health

How is GF Securities's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 000776's short term assets (CN¥429.2B) exceed its short term liabilities (CN¥215.7B).

Long Term Liabilities: 000776's short term assets (CN¥429.2B) exceed its long term liabilities (CN¥226.9B).


Debt to Equity History and Analysis

Debt Level: 000776 has more cash than its total debt.

Reducing Debt: 000776's debt to equity ratio has increased from 195% to 246.8% over the past 5 years.

Debt Coverage: 000776's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if 000776's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is GF Securities's current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


2.71%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 000776's dividend (2.71%) is higher than the bottom 25% of dividend payers in the CN market (0.48%).

High Dividend: 000776's dividend (2.71%) is in the top 25% of dividend payers in the CN market (1.92%)


Stability and Growth of Payments

Stable Dividend: 000776's dividend payments have been volatile in the past 10 years.

Growing Dividend: 000776's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (39.6%), 000776's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 000776 is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average management tenure


CEO

Chuanhui Lin (58 yo)

1.5yrs

Tenure

CN¥1,978,000

Compensation

Mr. Chuanhui Lin serves as Chairman of the Board at GF Securities Co., Ltd. since n July 22, 2021. He serves as Executive Director at GF Securities Co., Ltd.since January 6, 2021 and serves as its General...


CEO Compensation Analysis

Compensation vs Market: Chuanhui's total compensation ($USD295.18K) is about average for companies of similar size in the CN market ($USD375.12K).

Compensation vs Earnings: Insufficient data to compare Chuanhui's compensation with company performance.


Leadership Team

Experienced Management: 000776's management team is seasoned and experienced (5.7 years average tenure).


Board Members

Experienced Board: 000776's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

GF Securities Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: GF Securities Co., Ltd.
  • Ticker: 776
  • Exchange: SZSE
  • Founded: 1991
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Implied Market Cap: CN¥124.192b
  • Shares outstanding: 7.61b
  • Website: https://www.gf.com.cn

Number of Employees


Location

  • GF Securities Co., Ltd.
  • GF Securities Tower
  • 26 Machang Road
  • Guangzhou
  • Guangdong Province
  • 510627
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/02 00:00
End of Day Share Price2022/07/01 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.