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STOCK COMPARISON

Cnooc vs Capex S.A: Fair Value & Quality

Both stocks run through our valuation models. Here is how Cnooc (0883) and Capex S.A (CAPX) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Cnooc as the more attractively valued of the two: Cnooc trades at HK$23.34 versus a fair value of HK$26.63 (+14%), while Capex S.A trades at ARS 3,370 versus ARS 3,020 (-10%).
Cnooc
0883.HK · HKD · Energy
+14%
upside to fair value
undervalued
PriceHK$23.34
Fair ValueHK$26.63
Quality63/100
Capex S.A
CAPX.BA · ARS · Industrials
-10%
upside to fair value
overvalued
PriceARS 3,370
Fair ValueARS 3,020
Quality34/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

CnoocCapex S.A
Valuation
7.7×P/E (TTM)n/a
2.72×P/S (TTM)n/a
1.38×P/Bn/a
4.4×EV/EBITDA2.3×
0.16×PEGn/a
+14.1%Fair value upside−10.4%
4.9%Dividend yieldn/a
HK$1.15Dividend per sharen/a
Profitability
45%Operating margin-8%
2.05×EBIT margin trend (5Y)0.21×
15%Return on equity-11%
9%Return on assets-0%
Growth
9%Revenue growth (YoY)12%
-3.7%Avg. growth/yr (3Y)69.8%
20.0%Avg. growth/yr (5Y)87.4%
+17.7%Value creation/yr+36.9%
Balance & size
65.7×Interest coverage (EBIT/interest)0.6×
0.07×Debt / equity0.70×
$141BMarket cap$559M
weakGrowth qualityexpensive
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

Cnooc leads: 6 to 4 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Cnoocof which business quality 64 · market factors 58 Capex S.Aof which business quality 38 · market factors 19
ProfitabilityMargins and returns on capital today
55
25
Quality GrowthAre margins and returns improving?
36
46
CashflowEarnings quality: real cash, not paper profit
76
53
Fin. StrengthBalance sheet, leverage, solvency risk
84
23
InvestmentDisciplined investing over empire-building
40
0
Low VolatilityCalm price path (market factor)
82
50
MomentumPrice trend over the last 3–12 months (market factor)
47
8
52W MomentumDistance to the 52-week high (market factor)
52
5
Net IssuanceShare count: buybacks or dilution?
79
82

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyCnoocPrice HK$23.34Capex S.APrice ARS 3,370
DCF Models+73%above the priceHK$40.48+118%above the priceARS 7,332
Earnings-Based+16%above the priceHK$26.96+49%above the priceARS 5,033
Dividend Discount0%close to the priceHK$23.26n/a
Multiples+43%above the priceHK$33.44-27%below the priceARS 2,445
Asset-Based-48%below the priceHK$12.08-43%below the priceARS 1,927
Growth DCF+36%above the priceHK$31.69n/a
Economic Profit+31%above the priceHK$30.63-39%below the priceARS 2,044
Growth Earnings+44%above the priceHK$33.61+95%above the priceARS 6,583
Minimum-48%below the priceHK$12.08-43%below the priceARS 1,927
Maximum+73%above the priceHK$40.48+118%above the priceARS 7,332
Median+33%above the priceHK$31.16+11%close to the priceARS 3,739
Geometric mean+18%above the priceHK$27.58+8%close to the priceARS 3,644

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Cnooc: 9 of 26 models see the stock below the current price.

Capex S.A: 6 of 12 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Cnooc
Price HK$23.34
Fair Value HK$26.63
Bear HK$20.00Bull HK$45.29
Capex S.A
Price ARS 3,370
Fair Value ARS 3,020
Bear ARS 1,785Bull ARS 3,056

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Cnooc · Energy

Quality score63 · Top 25%
Fair value upside+14% · above median

Capex S.A · Industrials

Quality score34 · bottom 25%
Fair value upside-10% · above median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Cnooc as the more attractively valued of the two: Cnooc trades at HK$23.34 versus a fair value of HK$26.63 (+14%), while Capex S.A trades at ARS 3,370 versus ARS 3,020 (-10%).

Cnooc has the higher quality score (63/100).

Open Cnooc live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.