China International Capital Corporation Limited

SEHK:3908 Stock Report

Market Cap: HK$134.7b

China International Capital Valuation

Is 3908 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 3908 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3908 (HK$13.14) is trading above our estimate of fair value (HK$12.43)

Significantly Below Fair Value: 3908 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3908?

Key metric: As 3908 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3908. This is calculated by dividing 3908's market cap by their current earnings.
What is 3908's PE Ratio?
PE Ratio15.9x
EarningsCN¥3.75b
Market CapCN¥126.65b

Price to Earnings Ratio vs Peers

How does 3908's PE Ratio compare to its peers?

The above table shows the PE ratio for 3908 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.7x
6066 CSC Financial
15.6x34.4%HK$198.9b
6881 China Galaxy Securities
10.2x13.5%HK$149.4b
1456 Guolian Securities
36.2x48.3%HK$37.6b
1375 Central China Securities
44.7xn/aHK$18.7b
3908 China International Capital
15.9x24.9%HK$134.7b

Price-To-Earnings vs Peers: 3908 is good value based on its Price-To-Earnings Ratio (15.9x) compared to the peer average (26.7x).

Price to Earnings Ratio vs Industry

How does 3908's PE Ratio compare vs other companies in the HK Capital Markets Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
3908 15.9xIndustry Avg. 19.2xNo. of Companies6PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3908 is good value based on its Price-To-Earnings Ratio (15.9x) compared to the Hong Kong Capital Markets industry average (19.2x).

Price to Earnings Ratio vs Fair Ratio

What is 3908'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.

3908 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.9x
Fair PE Ratio15.6x

Price-To-Earnings vs Fair Ratio: 3908 is expensive based on its Price-To-Earnings Ratio (15.9x) compared to the estimated Fair Price-To-Earnings Ratio (15.6x).

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 3908 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$13.14
HK$18.04
+37.3%
22.5%HK$24.13HK$11.82n/a11
Dec ’25HK$13.54
HK$17.09
+26.2%
27.5%HK$24.39HK$10.50n/a12
Nov ’25HK$14.20
HK$17.01
+19.8%
27.7%HK$24.78HK$10.66n/a12
Oct ’25HK$13.90
HK$12.41
-10.7%
17.0%HK$16.03HK$9.44n/a12
Sep ’25HK$8.37
HK$12.59
+50.4%
20.1%HK$16.77HK$9.36n/a12
Aug ’25HK$8.65
HK$12.95
+49.7%
17.1%HK$16.37HK$9.50n/a12
Jul ’25HK$8.69
HK$13.85
+59.4%
24.2%HK$22.97HK$10.31n/a13
Jun ’25HK$9.30
HK$13.85
+48.9%
24.2%HK$22.97HK$10.31n/a13
May ’25HK$9.52
HK$13.91
+46.1%
24.5%HK$22.97HK$10.09n/a13
Apr ’25HK$9.28
HK$16.35
+76.1%
25.4%HK$23.74HK$10.09n/a13
Mar ’25HK$10.00
HK$16.94
+69.4%
23.4%HK$23.85HK$11.23n/a13
Feb ’25HK$9.31
HK$17.52
+88.2%
21.3%HK$23.88HK$11.24n/a13
Jan ’25HK$11.46
HK$19.31
+68.5%
15.2%HK$24.00HK$12.41n/a14
Dec ’24HK$12.20
HK$19.50
+59.8%
14.5%HK$24.28HK$13.82HK$13.5414
Nov ’24HK$12.36
HK$19.19
+55.3%
15.7%HK$23.71HK$13.50HK$14.2014
Oct ’24HK$14.36
HK$19.87
+38.4%
14.8%HK$24.06HK$13.94HK$13.9014
Sep ’24HK$15.08
HK$20.53
+36.1%
13.0%HK$24.98HK$15.10HK$8.3714
Aug ’24HK$16.60
HK$20.72
+24.8%
11.0%HK$24.22HK$16.31HK$8.6514
Jul ’24HK$13.74
HK$20.95
+52.5%
11.1%HK$24.50HK$16.50HK$8.6914
Jun ’24HK$14.24
HK$21.19
+48.8%
10.5%HK$24.71HK$17.98HK$9.3014
May ’24HK$16.42
HK$21.48
+30.8%
10.3%HK$25.30HK$18.41HK$9.5214
Apr ’24HK$15.74
HK$20.61
+31.0%
11.7%HK$24.80HK$15.45HK$9.2815
Mar ’24HK$17.32
HK$20.32
+17.3%
14.9%HK$28.07HK$15.29HK$10.0015
Feb ’24HK$18.20
HK$20.56
+12.9%
15.4%HK$28.66HK$15.61HK$9.3115
Jan ’24HK$14.90
HK$19.86
+33.3%
19.1%HK$27.60HK$13.60HK$11.4617
Dec ’23HK$14.70
HK$19.58
+33.2%
19.5%HK$26.89HK$13.25HK$12.2017

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.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 22:12
End of Day Share Price 2024/12/30 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

China International Capital Corporation Limited is covered by 31 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Sau Shing ChowABCI Securities Company Limited
Choon Ming TanBNP Paribas Securities (Asia)
Susie LiuBofA Global Research