CTS International Logistics Valuation

Q: What is the Fair Price of 603128 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

603128 (CN¥6.23) is trading above our estimate of [[fair value]] (CN¥6.09)

Is 603128 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 603128 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 603128 (CN¥6.23) is trading above our estimate of fair value (CN¥6.09)

Significantly Below Fair Value: 603128 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 603128?

Key metric: As 603128 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 603128. This is calculated by dividing 603128's market cap by their current earnings.
What is 603128's PE Ratio?
PE Ratio	15.5x
Earnings	CN¥524.47m
Market Cap	CN¥8.16b

603128 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	0.4x
Enterprise Value/EBITDA	10.7x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

How does 603128's PE Ratio compare to its peers?

The above table shows the PE ratio for 603128 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	28.8x
002245 Jiangsu Azure	46.3x	31.8%	CN¥14.8b
603713 Milkyway Chemical Supply Chain ServiceLtd	17.1x	19.6%	CN¥8.9b
002889 Shenzhen Easttop Supply Chain Management	33.7x	n/a	CN¥6.2b
600787 CMST DevelopmentLtd	18.2x	n/a	CN¥15.1b
603128 CTS International Logistics	15.5x	18.5%	CN¥8.2b

Price-To-Earnings vs Peers: 603128 is good value based on its Price-To-Earnings Ratio (15.5x) compared to the peer average (28.8x).

Price to Earnings Ratio vs Industry

How does 603128's PE Ratio compare vs other companies in the CN Logistics 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: 603128 is good value based on its Price-To-Earnings Ratio (15.5x) compared to the CN Logistics industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is 603128'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.

603128 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.5x
Fair PE Ratio	15.7x

Price-To-Earnings vs Fair Ratio: 603128 is good value based on its Price-To-Earnings Ratio (15.5x) compared to the estimated Fair Price-To-Earnings Ratio (15.7x).

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 603128 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥6.23	CN¥6.36 +2.1%	16.4%	CN¥8.00	CN¥5.50	n/a	5
Nov ’25	CN¥6.07	CN¥6.36 +4.8%	16.4%	CN¥8.00	CN¥5.50	n/a	5
Oct ’25	CN¥6.37	CN¥7.14 +12.1%	23.7%	CN¥10.00	CN¥5.50	n/a	5
Sep ’25	CN¥5.33	CN¥7.36 +38.1%	20.7%	CN¥10.00	CN¥5.60	n/a	5
Aug ’25	CN¥5.59	CN¥8.12 +45.3%	19.2%	CN¥10.00	CN¥6.60	n/a	5
Jul ’25	CN¥5.78	CN¥8.12 +40.5%	19.2%	CN¥10.00	CN¥6.60	n/a	5
Jun ’25	CN¥6.66	CN¥8.72 +30.9%	12.7%	CN¥10.00	CN¥7.40	n/a	5
May ’25	CN¥6.65	CN¥8.79 +32.1%	11.6%	CN¥10.00	CN¥7.40	n/a	6
Apr ’25	CN¥6.93	CN¥9.32 +34.5%	14.9%	CN¥12.00	CN¥7.70	n/a	6
Mar ’25	CN¥7.52	CN¥9.36 +24.5%	16.2%	CN¥12.00	CN¥7.70	n/a	5
Feb ’25	CN¥6.86	CN¥9.36 +36.4%	16.2%	CN¥12.00	CN¥7.70	n/a	5
Jan ’25	CN¥7.39	CN¥9.61 +30.0%	15.1%	CN¥12.00	CN¥7.70	n/a	5
Dec ’24	CN¥8.15	CN¥9.49 +16.4%	17.1%	CN¥12.00	CN¥7.10	n/a	5
Nov ’24	CN¥7.14	CN¥9.49 +32.9%	17.1%	CN¥12.00	CN¥7.10	CN¥6.07	5
Oct ’24	CN¥7.09	CN¥9.69 +36.7%	17.8%	CN¥12.00	CN¥7.10	CN¥6.37	5
Sep ’24	CN¥7.65	CN¥11.11 +45.2%	23.1%	CN¥16.00	CN¥8.60	CN¥5.33	5
Aug ’24	CN¥9.51	CN¥11.61 +22.1%	20.4%	CN¥16.00	CN¥9.75	CN¥5.59	5
Jul ’24	CN¥9.11	CN¥11.66 +28.0%	20.0%	CN¥16.00	CN¥9.90	CN¥5.78	5
Jun ’24	CN¥9.57	CN¥11.66 +21.8%	20.0%	CN¥16.00	CN¥9.90	CN¥6.66	5
May ’24	CN¥9.98	CN¥10.58 +6.0%	8.9%	CN¥12.20	CN¥9.90	CN¥6.65	4
Apr ’24	CN¥9.52	CN¥11.90 +25.0%	8.0%	CN¥13.50	CN¥11.00	CN¥6.93	4
Mar ’24	CN¥9.89	CN¥11.90 +20.3%	8.0%	CN¥13.50	CN¥11.00	CN¥7.52	4
Feb ’24	CN¥10.69	CN¥11.90 +11.3%	8.0%	CN¥13.50	CN¥11.00	CN¥6.86	4
Jan ’24	CN¥10.74	CN¥11.63 +8.3%	12.4%	CN¥13.50	CN¥10.00	CN¥7.39	3
Dec ’23	CN¥12.44	CN¥11.63 -6.5%	12.4%	CN¥13.50	CN¥10.00	CN¥8.15	3
Nov ’23	CN¥11.16	CN¥11.63 +4.2%	12.4%	CN¥13.50	CN¥10.00	CN¥7.14	3

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