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STOCK COMPARISON

Changbai Mountain Tourism Co vs Booking Holdings: Fair Value & Quality

Both stocks run through our valuation models. Here is how Changbai Mountain Tourism Co (603099) and Booking Holdings (BKNG) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Booking Holdings as the more attractively valued of the two: Changbai Mountain Tourism Co trades at ¥40.49 versus a fair value of ¥10.37 (-74%), while Booking Holdings trades at $156 versus $187 (+20%).
Changbai Mountain Tourism Co
603099.SHG · CNY · Consumer Discretionary
-74%
upside to fair value
overvalued
Price¥40.49
Fair Value¥10.37
Quality45/100
Booking Holdings
BKNG · USD · Consumer Discretionary
+20%
upside to fair value
undervalued
Price$156
Fair Value$187
Quality87/100
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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

Changbai Mountain Tourism CoBooking Holdings
Valuation
82.6×P/E (TTM)20.5×
13.38×P/S (TTM)5.12×
7.29×P/BNegative equity
41.8×EV/EBITDA13.6×
n/aPEG0.75×
−74.4%Fair value upside+20.0%
0.4%Dividend yield1.0%
¥0.15Dividend per share$1.58
Profitability
10%Operating margin25%
10%Return on equityNegative equity
7%Return on assets22%
Growth
21%Revenue growth (YoY)16%
59.2%Avg. growth/yr (3Y)16.3%
39.7%Avg. growth/yr (5Y)31.7%
+11.6%Value creation/yr+44.4%
Balance & size
31.8×Interest coverage (EBIT/interest)5.7×
0.02×Debt / equityNegative equity
$2BMarket cap$142B
expensiveGrowth qualityhealthy

Booking Holdings leads: 3 to 9 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.

Changbai Mountain Tourism Coof which business quality 50 · market factors 45 Booking Holdingsof which business quality 84 · market factors 30
ProfitabilityMargins and returns on capital today
43
87
Quality GrowthAre margins and returns improving?
16
43
CashflowEarnings quality: real cash, not paper profit
40
96
Fin. StrengthBalance sheet, leverage, solvency risk
95
83
InvestmentDisciplined investing over empire-building
5
92
Low VolatilityCalm price path (market factor)
70
53
MomentumPrice trend over the last 3–12 months (market factor)
43
30
52W MomentumDistance to the 52-week high (market factor)
21
3
Net IssuanceShare count: buybacks or dilution?
76
100

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 familyChangbai Mountain Tourism CoPrice ¥40.49Booking HoldingsPrice $156
DCF Models-79%below the price¥8.40+76%above the price$274
Earnings-Based-81%below the price¥7.88-16%below the price$132
Dividend Discount-97%below the price¥1.07-82%below the price$28.34
Multiples-77%below the price¥9.26-2%close to the price$153
Asset-Based-91%below the price¥3.68n/a
Growth DCF-89%below the price¥4.52+68%above the price$262
Economic Profit-87%below the price¥5.40-27%below the price$113
Growth Earnings-71%below the price¥11.71+20%above the price$187
Minimum-97%below the price¥1.07-82%below the price$28.34
Maximum-71%below the price¥11.71+76%above the price$274
Median-84%below the price¥6.64-2%close to the price$153
Geometric mean-87%below the price¥5.37-13%close to the price$136

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%.

Changbai Mountain Tourism Co: 26 of 26 models see the stock below the current price.

Booking Holdings: 11 of 23 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.

Changbai Mountain Tourism Co
Price ¥40.49
Fair Value ¥10.37
Bear ¥5.38Bull ¥13.06
Booking Holdings
Price $156
Fair Value $187
Bear $131Bull $243

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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.

Changbai Mountain Tourism Co · Consumer Discretionary

Quality score45 · below median
Fair value upside-74% · bottom 25%

Booking Holdings · Consumer Discretionary

Quality score87 · Top 25%
Fair value upside+20% · above median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Booking Holdings as the more attractively valued of the two: Changbai Mountain Tourism Co trades at ¥40.49 versus a fair value of ¥10.37 (-74%), while Booking Holdings trades at $156 versus $187 (+20%).

Booking Holdings has the higher quality score (87/100).

Open Booking Holdings live analysis →

More comparisons

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