China Resources Gas Group Limited

SHSC:1193 Stock Report

Market Cap: HK$68.1b

China Resources Gas Group Valuation

Is 1193 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 1193 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1193 (HK$29.45) is trading below our estimate of fair value (HK$52.9)

Significantly Below Fair Value: 1193 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1193?

Key metric: As 1193 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1193. This is calculated by dividing 1193's market cap by their current earnings.
What is 1193's PE Ratio?
PE Ratio13.3x
EarningsHK$5.14b
Market CapHK$68.15b

Price to Earnings Ratio vs Peers

How does 1193's PE Ratio compare to its peers?

The above table shows the PE ratio for 1193 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.4x
135 Kunlun Energy
10.7x9.6%HK$66.8b
2688 ENN Energy Holdings
8.8x9.8%HK$58.6b
3 Hong Kong and China Gas
20x9.2%HK$110.3b
392 Beijing Enterprises Holdings
6.2x18.9%HK$30.6b
1193 China Resources Gas Group
13.3x7.8%HK$68.1b

Price-To-Earnings vs Peers: 1193 is expensive based on its Price-To-Earnings Ratio (13.3x) compared to the peer average (11.5x).


Price to Earnings Ratio vs Industry

How does 1193's PE Ratio compare vs other companies in the Asian Gas Utilities Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1193 13.3xIndustry Avg. 13.3xNo. of Companies10PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1193 is good value based on its Price-To-Earnings Ratio (13.3x) compared to the Asian Gas Utilities industry average (13.4x).


Price to Earnings Ratio vs Fair Ratio

What is 1193'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.

1193 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.3x
Fair PE Ratio9.9x

Price-To-Earnings vs Fair Ratio: 1193 is expensive based on its Price-To-Earnings Ratio (13.3x) compared to the estimated Fair Price-To-Earnings Ratio (9.9x).


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 1193 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$28.90
HK$32.36
+12.0%
10.4%HK$38.00HK$24.00n/a19
Nov ’25HK$30.05
HK$32.36
+7.7%
10.4%HK$38.00HK$24.00n/a19
Oct ’25HK$31.35
HK$30.89
-1.5%
10.8%HK$36.70HK$24.00n/a18
Sep ’25HK$26.30
HK$29.85
+13.5%
11.9%HK$36.00HK$22.90n/a19
Aug ’25HK$26.30
HK$28.76
+9.3%
12.3%HK$33.40HK$22.30n/a18
Jul ’25HK$27.35
HK$28.12
+2.8%
11.6%HK$33.00HK$22.00n/a18
Jun ’25HK$27.15
HK$28.12
+3.6%
11.6%HK$33.00HK$22.00n/a18
May ’25HK$24.75
HK$27.01
+9.1%
10.6%HK$32.37HK$22.00n/a17
Apr ’25HK$24.95
HK$28.12
+12.7%
12.9%HK$36.60HK$22.00n/a19
Mar ’25HK$23.50
HK$29.27
+24.6%
13.2%HK$36.60HK$22.90n/a19
Feb ’25HK$22.40
HK$29.70
+32.6%
12.7%HK$36.60HK$24.00n/a18
Jan ’25HK$25.60
HK$29.91
+16.8%
12.4%HK$36.60HK$24.00n/a18
Dec ’24HK$24.10
HK$30.44
+26.3%
14.2%HK$40.00HK$24.00n/a18
Nov ’24HK$22.70
HK$30.95
+36.4%
14.2%HK$40.00HK$24.00HK$30.0518
Oct ’24HK$22.95
HK$31.06
+35.4%
14.1%HK$40.00HK$24.00HK$31.3518
Sep ’24HK$22.05
HK$30.49
+38.3%
14.0%HK$40.00HK$24.00HK$26.3017
Aug ’24HK$26.60
HK$33.36
+25.4%
10.2%HK$40.00HK$27.00HK$26.3018
Jul ’24HK$26.80
HK$34.29
+28.0%
11.1%HK$44.60HK$27.00HK$27.3519
Jun ’24HK$26.50
HK$34.29
+29.4%
11.1%HK$44.60HK$27.00HK$27.1519
May ’24HK$24.75
HK$33.84
+36.7%
10.7%HK$44.60HK$27.20HK$24.7519
Apr ’24HK$28.95
HK$37.20
+28.5%
11.7%HK$45.00HK$27.20HK$24.9518
Mar ’24HK$33.80
HK$37.39
+10.6%
11.2%HK$45.00HK$27.50HK$23.5018
Feb ’24HK$33.20
HK$36.71
+10.6%
13.3%HK$45.00HK$26.20HK$22.4018
Jan ’24HK$29.30
HK$34.43
+17.5%
17.2%HK$45.00HK$26.00HK$25.6018
Dec ’23HK$26.95
HK$35.21
+30.6%
23.0%HK$49.78HK$23.00HK$24.1018
Nov ’23HK$21.55
HK$36.67
+70.2%
19.4%HK$49.78HK$23.00HK$22.7019

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


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