China Kepei Education Group Valuation

Q: What is the Fair Price of 9CK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

9CK (€0.16) is trading below our estimate of [[fair value]] (€0.91)

Is 9CK 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 9CK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9CK (€0.16) is trading below our estimate of fair value (€0.91)

Significantly Below Fair Value: 9CK is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9CK?

Key metric: As 9CK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9CK. This is calculated by dividing 9CK's market cap by their current earnings.
What is 9CK's PE Ratio?
PE Ratio	3.4x
Earnings	CN¥771.57m
Market Cap	CN¥2.62b

9CK 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	1.7x
Enterprise Value/EBITDA	2.9x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

How does 9CK's PE Ratio compare to its peers?

The above table shows the PE ratio for 9CK 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	14.7x
9JK International School Augsburg -ISA- gemeinnützige	26.5x	5.6%	€3.5m
IFA LS Invest	6.5x	n/a	€293.6m
TIMA ZEAL Network	20.3x	-5.0%	€952.9m
A215200 MegaStudyEdu	5.6x	5.9%	₩460.7b
9CK China Kepei Education Group	3.4x	5.2%	€2.8b

Price-To-Earnings vs Peers: 9CK is good value based on its Price-To-Earnings Ratio (3.4x) compared to the peer average (14.7x).

Price to Earnings Ratio vs Industry

How does 9CK's PE Ratio compare vs other companies in the European Consumer Services Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	17.7x	13.0%
9CK China Kepei Education Group	3.4x	5.2%	US$362.33m

2 Companies		Estimated Growth	Market Cap
Industry Avg.	17.7x	13.0%
9CK China Kepei Education Group	3.4x	5.2%	US$362.33m

No more companies

Price-To-Earnings vs Industry: 9CK is good value based on its Price-To-Earnings Ratio (3.4x) compared to the Global Consumer Services industry average (17.5x).

Price to Earnings Ratio vs Fair Ratio

What is 9CK'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.

9CK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	3.4x
Fair PE Ratio	16.4x

Price-To-Earnings vs Fair Ratio: 9CK is good value based on its Price-To-Earnings Ratio (3.4x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).

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 9CK 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	€0.16	€0.32 +94.0%	57.0%	€0.53	€0.093	n/a	3
Nov ’25	€0.14	€0.32 +118.1%	57.0%	€0.53	€0.093	n/a	3
Oct ’25	€0.15	€0.32 +109.4%	57.0%	€0.53	€0.093	n/a	3
Sep ’25	€0.14	€0.42 +189.9%	24.9%	€0.52	€0.32	n/a	2
Aug ’25	€0.16	€0.42 +161.1%	24.9%	€0.52	€0.32	n/a	2
Jul ’25	€0.17	€0.42 +144.3%	56.7%	€0.73	€0.094	n/a	4
Jun ’25	€0.17	€0.42 +144.3%	56.7%	€0.73	€0.094	n/a	4
May ’25	€0.17	€0.42 +149.1%	56.7%	€0.74	€0.095	n/a	4
Apr ’25	€0.18	€0.41 +132.1%	57.0%	€0.72	€0.092	n/a	4
Mar ’25	€0.18	€0.41 +123.3%	57.0%	€0.72	€0.092	n/a	4
Feb ’25	€0.14	€0.41 +193.4%	57.0%	€0.72	€0.092	n/a	4
Jan ’25	n/a	€0.41 0%	57.0%	€0.72	€0.092	n/a	4
Dec ’24	€0.19	€0.58 +202.2%	26.1%	€0.86	€0.43	n/a	5
Nov ’24	€0.24	€0.58 +147.1%	26.1%	€0.86	€0.43	€0.14	5
Oct ’24	€0.25	€0.58 +135.1%	26.1%	€0.86	€0.43	€0.15	5
Sep ’24	€0.24	€0.57 +142.6%	27.2%	€0.85	€0.40	€0.14	5
Aug ’24	€0.30	€0.57 +92.3%	27.2%	€0.85	€0.40	€0.16	5
Jul ’24	€0.27	€0.57 +113.8%	27.2%	€0.85	€0.40	€0.17	5
Jun ’24	€0.30	€0.60 +100.1%	26.8%	€0.89	€0.42	€0.17	5
May ’24	€0.28	€0.61 +116.9%	30.6%	€0.90	€0.40	€0.17	4
Apr ’24	€0.29	€0.62 +115.1%	30.8%	€0.93	€0.43	€0.18	4
Mar ’24	€0.35	€0.63 +78.3%	30.2%	€0.94	€0.43	€0.18	4
Feb ’24	€0.41	€0.63 +51.6%	30.2%	€0.94	€0.43	€0.14	4
Jan ’24	€0.35	€0.59 +66.1%	31.1%	€0.93	€0.43	n/a	5
Dec ’23	€0.26	€0.59 +129.1%	33.6%	€0.92	€0.44	€0.19	4
Nov ’23	€0.25	€0.64 +153.3%	30.7%	€0.97	€0.47	€0.24	5

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.