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STOCK COMPARISON

Banco BTG Pactual S.A. vs Huatai Securities Co: Fair Value & Quality

Both stocks run through our valuation models. Here is how Banco BTG Pactual S.A. (BPAC11) 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: Banco BTG Pactual S.A. trades at BRL 56.20 versus a fair value of BRL 24.91 (-56%), while Huatai Securities Co trades at ¥19.49 versus ¥30.85 (+58%).
Banco BTG Pactual S.A.
BPAC11.SA · BRL · Financials
-56%
upside to fair value
overvalued
PriceBRL 56.20
Fair ValueBRL 24.91
Quality41/100
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).

Banco BTG Pactual S.A.Huatai Securities Co
Valuation
95.7×P/E (TTM)11.1×
—P/S (TTM)4.72×
—P/B0.90×
0.6%Dividend yield2.7%
BRL 0.35Dividend per share¥0.55
Profitability
39%Net margin44%
51%Operating margin58%
25%Return on equity9%
2%Return on assets2%
Growth
32%Revenue growth (YoY)45%
57.3%Avg. growth/yr (3Y)2.7%
64.2%Avg. growth/yr (5Y)-0.1%
Balance & size
1.00×Debt / equity0.31×
$39BMarket cap$28B
mixedGrowth qualityweak

Huatai Securities Co leads: 4 to 6 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.

Banco BTG Pactual S.A.of which business quality 22 · market factors 67 Huatai Securities Coof which business quality 53 · market factors 48
ProfitabilityMargins and returns on capital today
36
34
Quality GrowthAre margins and returns improving?
46
37
CashflowEarnings quality: real cash, not paper profit
0
0
Fin. StrengthBalance sheet, leverage, solvency risk
20
100
InvestmentDisciplined investing over empire-building
36
70
Low VolatilityCalm price path (market factor)
79
76
MomentumPrice trend over the last 3–12 months (market factor)
53
40
52W MomentumDistance to the 52-week high (market factor)
77
32
Net IssuanceBuybacks instead of dilution
0
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.

Banco BTG Pactual S.A.

DCF ModelsBRL 56.41
Earnings-BasedBRL 60.34
Dividend DiscountBRL 7.65
MultiplesBRL 27.82
Asset-BasedBRL 5.07
Economic ProfitBRL 24.78
Growth EarningsBRL 77.76

12 of 17 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.

Banco BTG Pactual S.A.
Bear BRL 18.68Fair Value BRL 24.91Bull BRL 31.14
BRL 56.20 = 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.

Banco BTG Pactual S.A. · Financials

Quality score41 · bottom 25%
Fair value upside-56% · bottom 25%

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: Banco BTG Pactual S.A. trades at BRL 56.20 versus a fair value of BRL 24.91 (-56%), 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 →
Banco BTG Pactual S.A. · 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.