China State Construction International Holdings Ltd (3311) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of China State Construction International Holdings Ltd stock HK$20.93, price HK$8.92, upside +134.8%, quality 38 out of 100. Rating: strongly undervalued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range HK$3.46 – HK$11.50 · fair‑value band HK$15.78 – HK$41.14 · the HK$8.92 price screens below the HK$20.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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China State Construction International Holdings Limited, an investment holding company, engages in the construction business for private and public sectors in Hong Kong, Chinese mainland, Macau, and internationally.
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It invests in and constructs toll roads and bridges, houses, buildings, hospitals, and schools. The company also undertakes civil engineering projects; operation of infrastructure assets; and mechanical and electrical engineering works.
In addition, it is involved in undertaking foundation engineering works, general contracting and prefabricated construction, and industrial plant reconstruction activities; road contracts, and investment-driven contracting and other construction related investment businesses.
Further, the company provides insurance brokerage, building construction, project and construction management, and installation repairs and maintenance services; curtain wall; sells and distributes construction materials; issues guaranteed notes; holds trademarks; insurance contracts and rental income from investment properties; leases plant and machinery; generates and supplies heat and electricity; manufactures building-integrated photovoltaics curtain walls and other related products; and manufactures and sells precast structures.
Additionally, it engages in the marine engineering works, and property investment and management activities; and infrastructure project investments, infrastructure construction and operation, thermoelectricity, toll road operation, industrial plant reconstruction, project consultancy services, and facade contracting businesses.
The company was founded in 1979 and is headquartered in Wan Chai, Hong Kong. China State Construction International Holdings Limited is a subsidiary of China Overseas Holdings Limited.
Stock analysis
China State Construction International Holdings Ltd (3311) currently trades at HK$8.92, while our model-based Fair Value estimate is HK$20.93, implying the stock looks roughly 57% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$41.07 per share, and 17 of the 17 models we run sit above the HK$8.92 price.
Bear case: the Asset-Based group reads lowest at HK$11.17, and 0 of the 17 models stay below the price. Data coverage for this calculation is high.
Scenario range: HK$15.78 (bear) to HK$41.14 (bull), the price of HK$8.92 sits below 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 38/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
China State Construction International Holdings Ltd reported revenue of 109B CNY in FY2025 versus 77.3B CNY in FY2021, a compound +9.0%/yr. Reported net income was 9.6B CNY in FY2025, compounding +7.1%/yr from FY2021.
Key figures
Market cap HK$47.1B (≈ $6.0B) Mid · P/E ratio 5.5 · P/S ratio 0.48 · Dividend yield 7.1% · Net margin 8.8% · Return on equity 10.0% · Return on assets (EBIT) 5.1% (5-year average) · Operating margin 15.6%.
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 2% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −41% fair-value upside, at 135%, 3311 screens cheaper than that median.
Fair Value models
BearHK$15.78Fair Value HK$20.93BullHK$41.14
Price HK$8.92 · Upside +134.8%
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.47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−5.4%
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.
+2.2%
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: +11.1% a year
Revenue growth 21 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.
+12.9%
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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.
+14.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.5%
Dividend (yield on the price)7.1%
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.7.5% vs 5.1%, steady
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.12% → 13%
News mood ⓘNews mood, the average tone of recent news (7 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.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Compare China State Construction International Holdings Ltd with another stock
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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.Engineering & Construction · 788 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside+134.8% · Top 25%
Profitability
Return on equity (12 months)10.0% · Above median
Return on assets3.1% · Above median
Net margin (12 months)9.0% · Top 25%
Operating margin (12 months)15.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−22.5% · Bottom 25%
Dividend yield (12 months)7.1% · Top 25%
Balance sheet
Debt / equity0.88× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "China State Construction International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3311
Frequently asked questions
Is China State Construction International Holdings Ltd (3311) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of HK$20.93 versus a price of HK$8.92, about +135% upside (undervalued).
What is the fair value of 3311?
Our model-based fair value for China State Construction International Holdings Ltd is HK$20.93 (as of Nov 10, 2026), built from audited fundamentals. The current price: HK$8.92.
What is the quality score of 3311?
China State Construction International Holdings Ltd has a Quality Score of 38/100. 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 State Construction International Holdings Ltd (3311)?
Our model-based price target is the fair value of HK$20.93 (as of Nov 10, 2026) from 17 valuation models. Cautious scenario HK$15.78, optimistic scenario HK$41.14. It is a calculation from audited fundamentals, not an analyst target.
What is the China State Construction International Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$20.93, about +135% upside versus a price of HK$8.92 (undervalued). Cautious scenario HK$15.78, optimistic scenario HK$41.14. The calculation is refreshed regularly with new filings.
What is the revenue of China State Construction International Holdings Ltd (3311)?
China State Construction International Holdings Ltd reported trailing-twelve-month revenue of about 87.7B CNY (latest available figure, as of Nov 10, 2026).
Does China State Construction International Holdings Ltd pay a dividend?
China State Construction International Holdings Ltd currently shows a dividend yield of 7.09% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of China State Construction International Holdings Ltd (3311) and when is the ex-dividend date?
China State Construction International Holdings Ltd pays a dividend of HK$0.632 per share a year, a dividend yield of 7.1%. The last ex-dividend date was Sep 16, 2026. A dividend has been paid every year since at least 2006. The payout ratio is 29.7% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of China State Construction International Holdings Ltd (3311)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China State Construction International Holdings Ltd it is HK$20.93 per share (as of Nov 10, 2026), against a price of HK$8.92. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is China State Construction International Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 3311 trades below its calculated fair value: price HK$8.92, fair value HK$20.93, a gap of about +135% (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 3311?
No. The price is what the market pays today (HK$8.92); the fair value is what the company's own numbers justify (HK$20.93). For China State Construction International Holdings Ltd the two are HK$12.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is China State Construction International Holdings Ltd worth?
The market values China State Construction International Holdings Ltd at about HK$47.1B (market capitalisation, as of Nov 10, 2026). Per share that is HK$8.92; our models calculate a fair value of HK$20.93 per share.
What do the bullish and bearish scenarios say about 3311?
Our models span a range for China State Construction International Holdings Ltd: cautious scenario HK$15.78, base HK$20.93, optimistic HK$41.14 per share (as of Nov 10, 2026, price HK$8.92). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 3311?
China State Construction International Holdings Ltd trades at a price-to-earnings ratio of 5.5 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$20.93 is built from several models across several years. Other multiples: PEG 1.4, P/B 0.5, P/S 0.5, EV/EBITDA 5.6.
What is the PEG ratio of 3311?
The PEG ratio of China State Construction International Holdings Ltd is 1.36 (P/E divided by earnings growth, as of Nov 10, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of China State Construction International Holdings Ltd (3311)?
Balance-sheet figures for China State Construction International Holdings Ltd (as of Nov 10, 2026): return on equity 10.0%, debt of 0.88 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 3311 from its 52-week high?
China State Construction International Holdings Ltd trades at HK$8.92, about 2% below its 52-week high of HK$9.12 and 33% above the low of HK$6.69 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of HK$20.93 is for.
Which stocks are comparable to China State Construction International Holdings Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 State Construction International Holdings Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price HK$8.92, calculated fair value HK$20.93 (+135%), Quality Score 38/100, from 17 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 3311 calculated?
We run China State Construction International Holdings Ltd through 17 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$20.93 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 13.7% above its aggregate fair value. China State Construction International Holdings Ltd currently trades 57% 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 State Construction International Holdings Ltd (3311)?
The closing price on Nov 9, 2026 was HK$8.92. Our model-based fair value is HK$20.93, about +135% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China State Construction International Holdings Ltd right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$15.78). The market is more pessimistic than our downside scenario. The model range is unusually wide (HK$15.78 to HK$41.14). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of China State Construction International Holdings Ltd (3311) come from?
Earnings per share at China State Construction International Holdings Ltd grew +6.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.6 %, EBIT margin +2.0 %, tax rate −1.0 %, residual (interest, one-offs) −3.8 %. 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 State Construction International Holdings Ltd
How large is the market capitalisation of China State Construction International Holdings Ltd (3311)?
The market capitalisation of China State Construction International Holdings Ltd is HK$47.1B (≈ $6.0B). 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 State Construction International Holdings Ltd (3311)?
The price-to-sales ratio of China State Construction International Holdings Ltd is 0.48 (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 State Construction International Holdings Ltd (3311)?
The dividend yield of China State Construction International Holdings Ltd is 7.1%. 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 State Construction International Holdings Ltd (3311)?
The net margin of China State Construction International Holdings Ltd is 8.8% (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 State Construction International Holdings Ltd (3311)?
The return on equity (ROE) of China State Construction International Holdings Ltd is 10.0% (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 State Construction International Holdings Ltd (3311)?
On an EBIT basis the return on assets of China State Construction International Holdings Ltd is 5.1% (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 State Construction International Holdings Ltd (3311)?
The operating margin of China State Construction International Holdings Ltd is 15.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China State Construction International Holdings Ltd (3311)?
Revenue at China State Construction International Holdings Ltd is growing −22.5% versus a year earlier (3y avg +2.2%). 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 State Construction International Holdings Ltd (3311)?
Earnings per share at China State Construction International Holdings Ltd are growing −19.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does China State Construction International Holdings Ltd (3311) generate?
The free cash flow of China State Construction International Holdings Ltd is −2.0B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does China State Construction International Holdings Ltd (3311) carry?
The net debt of China State Construction International Holdings Ltd is 69.4B CNY (fiscal year 2025). 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 10, 2026