Caitong SecuritiesLtd Valuation

Q: What is the Fair Price of 601108 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

601108 (CN¥8.06) is trading above our estimate of [[fair value]] (CN¥2.84)

Is 601108 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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 601108 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 601108 (CN¥8.06) is trading above our estimate of fair value (CN¥2.84)

Significantly Below Fair Value: 601108 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 601108?

Key metric: As 601108 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 601108. This is calculated by dividing 601108's market cap by their current earnings.
What is 601108's PE Ratio?
PE Ratio	16.8x
Earnings	CN¥2.22b
Market Cap	CN¥37.43b

601108 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/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	2.3x

Price to Earnings Ratio vs Peers

How does 601108's PE Ratio compare to its peers?

The above table shows the PE ratio for 601108 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	23.1x
000987 Guangzhou Yuexiu Capital Holdings Group	17.6x	8.1%	CN¥36.2b
002673 Western SecuritiesLtd	38.6x	9.9%	CN¥40.0b
000728 Guoyuan Securities	17.6x	5.5%	CN¥35.4b
601555 Soochow Securities	18.6x	5.1%	CN¥39.1b
601108 Caitong SecuritiesLtd	16.8x	7.4%	CN¥37.4b

Price-To-Earnings vs Peers: 601108 is good value based on its Price-To-Earnings Ratio (16.8x) compared to the peer average (23.3x).

Price to Earnings Ratio vs Industry

How does 601108's PE Ratio compare vs other companies in the CN Capital Markets Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 601108 is good value based on its Price-To-Earnings Ratio (16.8x) compared to the CN Capital Markets industry average (32x).

Price to Earnings Ratio vs Fair Ratio

What is 601108'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.

601108 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	16.8x
Fair PE Ratio	27.7x

Price-To-Earnings vs Fair Ratio: 601108 is good value based on its Price-To-Earnings Ratio (16.8x) compared to the estimated Fair Price-To-Earnings Ratio (27.7x).

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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