Chongqing Rural Commercial Bank Co., Ltd.

DB:C3B Stock Report

Market Cap: €7.8b

Chongqing Rural Commercial Bank Valuation

Is C3B 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 C3B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: C3B (€0.49) is trading below our estimate of fair value (€2.2)

Significantly Below Fair Value: C3B is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for C3B?

Key metric: As C3B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for C3B. This is calculated by dividing C3B's market cap by their current earnings.
What is C3B's PE Ratio?
PE Ratio4x
EarningsCN¥11.02b
Market CapCN¥59.29b

Price to Earnings Ratio vs Peers

How does C3B's PE Ratio compare to its peers?

The above table shows the PE ratio for C3B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.9x
CBK Commerzbank
8x8.8%€17.1b
SSB SouthState
17.1x27.9%US$8.5b
BOKF BOK Financial
16.5x7.3%US$7.7b
PB Prosperity Bancshares
18x13.2%US$8.0b
C3B Chongqing Rural Commercial Bank
4x5.0%€63.7b

Price-To-Earnings vs Peers: C3B is good value based on its Price-To-Earnings Ratio (4x) compared to the peer average (14.9x).

Price to Earnings Ratio vs Industry

How does C3B's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
C3B 4.0xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: C3B is good value based on its Price-To-Earnings Ratio (4x) compared to the European Banks industry average (7.2x).

Price to Earnings Ratio vs Fair Ratio

What is C3B'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.

C3B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4x
Fair PE Ratio10.8x

Price-To-Earnings vs Fair Ratio: C3B is good value based on its Price-To-Earnings Ratio (4x) compared to the estimated Fair Price-To-Earnings Ratio (10.8x).

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 C3B forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.49
€0.59
+20.6%
18.7%€0.69€0.32n/a8
Nov ’25€0.49
€0.57
+17.0%
19.5%€0.68€0.31n/a8
Oct ’25€0.45
€0.48
+7.4%
20.1%€0.61€0.31n/a8
Sep ’25€0.42
€0.47
+9.9%
21.6%€0.61€0.31n/a8
Aug ’25€0.46
€0.44
-5.1%
26.1%€0.63€0.25n/a9
Jul ’25€0.44
€0.41
-5.4%
21.3%€0.52€0.25n/a9
Jun ’25€0.41
€0.41
-1.3%
22.9%€0.52€0.25n/a9
May ’25€0.39
€0.40
+4.8%
22.1%€0.53€0.25n/a9
Apr ’25€0.37
€0.40
+8.7%
25.3%€0.53€0.25n/a9
Mar ’25€0.36
€0.38
+4.3%
23.0%€0.52€0.25n/a9
Feb ’25€0.34
€0.38
+10.2%
22.0%€0.52€0.25n/a10
Jan ’25€0.36
€0.36
-0.04%
20.5%€0.48€0.25n/a9
Dec ’24€0.33
€0.36
+9.0%
22.4%€0.48€0.25n/a9
Nov ’24€0.34
€0.36
+6.4%
20.9%€0.48€0.26€0.4910
Oct ’24€0.33
€0.38
+12.6%
18.9%€0.48€0.27€0.459
Sep ’24€0.31
€0.37
+18.7%
17.8%€0.47€0.28€0.429
Aug ’24€0.32
€0.36
+14.6%
16.4%€0.45€0.28€0.469
Jul ’24€0.32
€0.37
+15.5%
17.4%€0.45€0.28€0.448
Jun ’24€0.31
€0.38
+22.7%
19.0%€0.47€0.27€0.418
May ’24€0.33
€0.37
+12.0%
17.4%€0.44€0.27€0.398
Apr ’24€0.35
€0.36
+4.5%
15.4%€0.45€0.27€0.378
Mar ’24€0.31
€0.37
+16.7%
15.7%€0.46€0.28€0.367
Feb ’24€0.32
€0.37
+15.2%
15.7%€0.46€0.28€0.347
Jan ’24€0.31
€0.36
+18.1%
17.0%€0.45€0.28€0.367
Dec ’23€0.30
€0.36
+18.8%
17.0%€0.45€0.28€0.337
Nov ’23€0.29
€0.37
+24.6%
16.1%€0.46€0.28€0.347

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

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