China Resources Gas Group Ltd (1193) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of China Resources Gas Group Ltd stock HK$28.64, price HK$16.45, upside +74.1%, quality 51 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.
How to read this chart
60‑month range HK$14.40 – HK$39.57 · fair‑value band HK$14.94 – HK$46.74 · the HK$16.45 price screens below the HK$28.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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China Resources Gas Group Limited, an investment holding company, engages in the sale of liquefied gas and connection of gas pipelines.
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The company operates through Sale and Distribution of Gas Fuel and Related Products, Gas Connection, Comprehensive Services, Design and Construction Services, and Gas Stations segments.
The Sale and Distribution of Gas Fuel and Related Products segment sells natural gas and liquefied petroleum gas for residential, commercial, and industrial use. The Gas Connection segment engages in the construction of gas pipeline networks under gas connection contracts.
The Comprehensive Services segment sells gas appliances and related products. The Design and Construction Services segment provides design, construction, consultancy, and management services for gas connection projects.
The Gas Stations segment engages in the sale of gas fuel in natural gas filling stations. China Resources Gas Group Limited was incorporated in 1994 and is based in Wan Chai, Hong Kong. China Resources Gas Group Limited is a subsidiary of CRH (Gas) Limited.
Stock analysis
China Resources Gas Group Ltd (1193) currently trades at HK$16.45, while our model-based Fair Value estimate is HK$28.64, implying the stock looks roughly 43% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$35.95 per share, and 20 of the 26 models we run sit above the HK$16.45 price.
Bear case: the Asset-Based group reads lowest at HK$10.34, and 6 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: HK$14.94 (bear) to HK$46.74 (bull), the price of HK$16.45 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
China Resources Gas Group Ltd reported revenue of HK$97.7B in FY2025 versus HK$79.6B in FY2021, a compound +5.3%/yr. Reported net income was HK$3.5B in FY2025, compounding −13.7%/yr from FY2021.
Key figures
Market cap HK$37.6B (≈ $4.8B) Mid · P/E ratio 10.3 · P/S ratio 0.37 · Dividend yield 5.8% · Net margin 3.6% · Return on equity 7.4% · Return on assets (EBIT) 6.1% (5-year average) · Operating margin 7.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (medium confidence).
What moves the price
The share trades about 25% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −22% fair-value upside, at 74%, 1193 screens cheaper than that median.
Fair Value models
BearHK$14.94Fair Value HK$28.64BullHK$46.74
Price HK$16.45 · Upside +74.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.8%
Start year 2020 (pandemic). Over 10 years: +11.5% a year
Revenue growth 26 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+28.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−1.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.3%
Dividend (yield on the price)5.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7.3% vs 1.7%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +4.0% a year for the price and 0.0% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (18 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Compare China Resources Gas Group Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Gas · 107 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Above median
Fair Value upside+74.1% · Top 25%
Profitability
Return on equity (12 months)7.4% · Below median
Return on assets3.7% · Below median
Net margin (12 months)5.1% · Below median
Operating margin (12 months)7.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)5.2% · Above median
Dividend yield (12 months)5.8% · Top 25%
Balance sheet
Debt / equity0.19× · Below median
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
P/E (12 months)10.3× · Cheaper than median
P/B0.85× · Cheaper than median
P/S (12 months)0.54× · Cheaper than median
Price / free cash flow (fiscal year)17.7× · Cheaper than median
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Cite: Fair Value Calculator (2026). "China Resources Gas Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1193
Frequently asked questions
Is China Resources Gas Group Ltd (1193) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of HK$28.64 versus a price of HK$16.45, about +74% upside (undervalued).
What is the fair value of 1193?
Our model-based fair value for China Resources Gas Group Ltd is HK$28.64 (as of Nov 12, 2026), built from audited fundamentals. The current price: HK$16.45.
What is the quality score of 1193?
China Resources Gas Group Ltd has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for China Resources Gas Group Ltd (1193)?
Our model-based price target is the fair value of HK$28.64 (as of Nov 12, 2026) from 26 valuation models. Cautious scenario HK$14.94, optimistic scenario HK$46.74. It is a calculation from audited fundamentals, not an analyst target.
What is the China Resources Gas Group Ltd stock forecast for 2026?
Our models put fair value at HK$28.64, about +74% upside versus a price of HK$16.45 (undervalued). Cautious scenario HK$14.94, optimistic scenario HK$46.74. The calculation is refreshed regularly with new filings.
What is the revenue of China Resources Gas Group Ltd (1193)?
China Resources Gas Group Ltd reported trailing-twelve-month revenue of about HK$100B (latest available figure, as of Nov 12, 2026).
Does China Resources Gas Group Ltd pay a dividend?
China Resources Gas Group Ltd currently shows a dividend yield of 5.78% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of China Resources Gas Group Ltd (1193) and when is the ex-dividend date?
China Resources Gas Group Ltd pays a dividend of HK$0.95 per share a year, a dividend yield of 5.8%. The last ex-dividend date was Sep 11, 2026. A dividend has been paid every year since 2003. The payout ratio is 60.3% of earnings. Free cash flow covers the dividend 1.43 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into China Resources Gas Group Ltd (1193)?
For today's price to be fair in a discounted-cash-flow model, China Resources Gas Group Ltd would have to grow free cash flow by 6.2 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew 11.8 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of 1193 use?
Our models discount China Resources Gas Group Ltd at 9.5 %: a base by market capitalisation (mid), damped by beta 0.70, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For China Resources Gas Group Ltd that is +6.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has China Resources Gas Group Ltd (1193) delivered so far?
Over the past 5 years revenue at China Resources Gas Group Ltd grew 11.8 % a year. The price currently implies free-cash-flow growth of +6.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of China Resources Gas Group Ltd (1193) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into China Resources Gas Group Ltd (+6.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of China Resources Gas Group Ltd (1193)?
The free-cash-flow yield on the price is 8.13 %: that much free cash flow China Resources Gas Group Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of China Resources Gas Group Ltd (1193)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Resources Gas Group Ltd it is HK$28.64 per share (as of Nov 12, 2026), against a price of HK$16.45. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is China Resources Gas Group Ltd stock overvalued or undervalued in 2026?
As of Nov 12, 2026, 1193 trades below its calculated fair value: price HK$16.45, fair value HK$28.64, a gap of about +74% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1193?
No. The price is what the market pays today (HK$16.45); the fair value is what the company's own numbers justify (HK$28.64). For China Resources Gas Group Ltd the two are HK$12.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Resources Gas Group Ltd worth?
The market values China Resources Gas Group Ltd at about HK$37.6B (market capitalisation, as of Nov 12, 2026). Per share that is HK$16.45; our models calculate a fair value of HK$28.64 per share.
What do the bullish and bearish scenarios say about 1193?
Our models span a range for China Resources Gas Group Ltd: cautious scenario HK$14.94, base HK$28.64, optimistic HK$46.74 per share (as of Nov 12, 2026, price HK$16.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1193?
China Resources Gas Group Ltd trades at a price-to-earnings ratio of 10.3 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$28.64 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 15.4. Other multiples: PEG 2.5, P/B 0.9, P/S 0.5, EV/EBITDA 5.6.
What is the PEG ratio of 1193?
The PEG ratio of China Resources Gas Group Ltd is 2.52 (P/E divided by earnings growth, as of Nov 12, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of China Resources Gas Group Ltd (1193)?
Balance-sheet figures for China Resources Gas Group Ltd (as of Nov 12, 2026): return on equity 7.4%, debt of 0.19 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 1193 from its 52-week high?
China Resources Gas Group Ltd trades at HK$16.45, about 25% below its 52-week high of HK$21.97 and 14% above the low of HK$14.40 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$28.64 is for.
Which stocks are comparable to China Resources Gas Group Ltd?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, Snam S.p.A, NiSource Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Resources Gas Group Ltd stock attractive at the current price?
The data as of Nov 12, 2026: price HK$16.45, calculated fair value HK$28.64 (+74%), Quality Score 51/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1193 calculated?
We run China Resources Gas Group Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$28.64 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1% above its aggregate fair value. China Resources Gas Group Ltd currently trades 43% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of China Resources Gas Group Ltd (1193)?
The closing price on Nov 13, 2026 was HK$16.45. Our model-based fair value is HK$28.64, about +74% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Resources Gas Group Ltd right now?
The model range is unusually wide (HK$14.94 to HK$46.74). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of China Resources Gas Group Ltd (1193) come from?
Earnings per share at China Resources Gas Group Ltd grew 4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.2 %, EBIT margin −8.3 %, tax rate +0.8 %, residual (interest, one-offs) −0.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of China Resources Gas Group Ltd
How large is the market capitalisation of China Resources Gas Group Ltd (1193)?
The market capitalisation of China Resources Gas Group Ltd is HK$37.6B (≈ $4.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of China Resources Gas Group Ltd (1193)?
The price-to-sales ratio of China Resources Gas Group Ltd is 0.37 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of China Resources Gas Group Ltd (1193)?
The dividend yield of China Resources Gas Group Ltd is 5.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of China Resources Gas Group Ltd (1193)?
The net margin of China Resources Gas Group Ltd is 3.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Resources Gas Group Ltd (1193)?
The return on equity (ROE) of China Resources Gas Group Ltd is 7.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of China Resources Gas Group Ltd (1193)?
On an EBIT basis the return on assets of China Resources Gas Group Ltd is 6.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of China Resources Gas Group Ltd (1193)?
The operating margin of China Resources Gas Group Ltd is 7.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Resources Gas Group Ltd (1193)?
Revenue at China Resources Gas Group Ltd is growing 5.2% versus a year earlier (3y avg +1.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at China Resources Gas Group Ltd (1193)?
Earnings per share at China Resources Gas Group Ltd are growing 0.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does China Resources Gas Group Ltd (1193) carry?
The net debt of China Resources Gas Group Ltd is HK$16.3B (fiscal year 2025, ≈ 5.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 12, 2026