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STOCK COMPARISON

Meritz Financi vs Huatai Securities Co: Fair Value & Quality

Both stocks run through our valuation models. Here is how Meritz Financi (138040) and Huatai Securities Co (601688) compare, as of Aug 8, 2026.

As of Aug 8, 2026, Fair Value Calculator sees Huatai Securities Co as the more attractively valued of the two: Meritz Financi trades at KRW 125,700 versus a fair value of KRW 87,706 (-30%), while Huatai Securities Co trades at ¥19.49 versus ¥30.85 (+58%).
Meritz Financi
138040.KO · KRW · Financials
-30%
upside to fair value
overvalued
PriceKRW 125,700
Fair ValueKRW 87,706
Quality42/100
Huatai Securities Co
601688.SHG · CNY · Financials
+58%
upside to fair value
undervalued
Price¥19.49
Fair Value¥30.85
Quality55/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Meritz FinanciHuatai Securities Co
Valuation
—P/E (TTM)11.1×
—P/S (TTM)4.72×
—P/B0.90×
—Dividend yield2.7%
—Dividend per share¥0.55
Profitability
12%Net margin44%
51%Operating margin58%
21%Return on equity9%
2%Return on assets2%
Growth
51%Revenue growth (YoY)45%
-3.0%Avg. growth/yr (3Y)2.7%
4.0%Avg. growth/yr (5Y)-0.1%
Balance & size
3.21×Debt / equity0.31×
$13BMarket cap$28B
mixedGrowth qualityweak

Even match: 4 to 4 metric wins.

Dash = 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.

Meritz Financiof which business quality 33 · market factors 50 Huatai Securities Coof which business quality 53 · market factors 48
ProfitabilityMargins and returns on capital today
45
34
Quality GrowthAre margins and returns improving?
54
37
CashflowEarnings quality: real cash, not paper profit
0
0
Fin. StrengthBalance sheet, leverage, solvency risk
23
100
InvestmentDisciplined investing over empire-building
44
70
Low VolatilityCalm price path (market factor)
58
76
MomentumPrice trend over the last 3–12 months (market factor)
46
40
52W MomentumDistance to the 52-week high (market factor)
47
32
Net IssuanceBuybacks instead of dilution
50
91

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Meritz Financi

DCF ModelsKRW 209,237
Earnings-BasedKRW 161,385
Dividend DiscountKRW 38,961
MultiplesKRW 85,380
Asset-BasedKRW 41,974
Economic ProfitKRW 138,926
Growth EarningsKRW 253,705

6 of 14 models see the stock below the current price.

Huatai Securities Co

DCF Models¥96.26
Earnings-Based¥43.86
Dividend Discount¥21.19
Multiples¥47.49
Asset-Based¥15.36
Economic Profit¥43.77
Growth Earnings¥36.15

3 of 17 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Meritz Financi
Bear KRW 65,779Fair Value KRW 87,706Bull KRW 109,632
KRW 125,700 = current price (white tick)
Huatai Securities Co
Bear ¥23.14Fair Value ¥30.85Bull ¥38.57
¥19.49 = current price (white tick)

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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.

Meritz Financi · Financials

Quality score42 · bottom 25%
Fair value upside-30% · below median

Huatai Securities Co · Financials

Quality score55 · below median
Fair value upside+58% · Top 25%

Bottom line

As of Aug 8, 2026, Fair Value Calculator sees Huatai Securities Co as the more attractively valued of the two: Meritz Financi trades at KRW 125,700 versus a fair value of KRW 87,706 (-30%), while Huatai Securities Co trades at ¥19.49 versus ¥30.85 (+58%).

Huatai Securities Co has the higher quality score (55/100).

See the full analysis →
Meritz Financi · Huatai Securities Co

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.