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Ping An Bank Co Ltd (000001) fair value: what the stock is really worth

We calculate from audited financials what Ping An Bank Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Financial Services · CN · ISIN CNE000000040

PA Broad data Sep 18, 2026

Ping An Bank Co Ltd

000001 · SHE

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value ¥23.22 · Strongly undervalued (+98%)
!Quality 44/100
!Weak Growth (revenue 5y −1.1 %/yr)
✓Highly profitable · 46.8% net margin (TTM)
!Moderate debt · negative free cash flow
·5.08% dividend yield
✓Ranks above peers (9/14)
!Moderate moat 62/100
!Weak on future: 20 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥20.14 ¥7.59 Fair Value ¥23.22 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.

How to read this chart

60‑month range ¥7.59 – ¥20.14 · fair‑value band ¥21.10 – ¥34.39 · the ¥11.73 price screens below the ¥23.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.

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Company profile

Ping An Bank Co., Ltd. provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally. The company operates through three segments: Wholesale Financial Services, Retail Financial Services, and Other Businesses.

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Ping An Bank Co., Ltd. provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally. The company operates through three segments: Wholesale Financial Services, Retail Financial Services, and Other Businesses. It offers deposit products, including demand, time, call, negotiated, agreement, and margin deposits; foreign currency, corporate, and structured deposits. The company also provides loans, such as working capital, fixed asset, corporate fixed deposit certificate pledge, commercial property mortgage, syndicated, cross-border syndicated, real estate development, government platform, and cross-border working capital loans, as well as corporate client account overdraft, online banking revolving loans for small and medium-sized enterprises, offshore foreign exchange deposits, and offshore cross-border financing loans. In addition, it offers settlement, offshore, corporate finance, cash management, trade finance, custody, corporate e-banking, corporate intermediary, interbank, and wealth management services, as well as bank cards. The company was founded in 1987 and is headquartered in Shenzhen, China.

Stock analysis

Ping An Bank Co Ltd (000001) currently trades at ¥11.73, while our model-based Fair Value estimate is ¥23.22, implying the stock looks roughly 49.5% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ¥28.56 per share, and 6 of the 6 models we run sit above the ¥11.73 price.

Bear case: the Dividend Discount group reads lowest at ¥12.52, and 0 of the 6 models stay below the price. Evidence for this calculation is high.

Scenario range: ¥21.10 (bear) to ¥34.39 (bull), the price of ¥11.73 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 44/100 (below-average quality), in the Financial Services sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Ping An Bank Co Ltd reported revenue of 228B CNY in FY2025 versus 263B CNY in FY2021, a compound −3.5%/yr. Reported net income was 42.6B CNY in FY2025, compounding +4.1%/yr from FY2021.

Key figures

Market cap 228B CNY (≈ $34.1B) · P/E ratio 5.5 · P/S ratio 1.04 · EPS (TTM) ¥2.12 · Dividend yield 5.1% · Net margin 18.7% · Return on equity 8.2% · Return on assets (EBIT) 1.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 10% below its 52-week high and 12% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at 98%, 000001 screens cheaper than that median.

Fair Value models

Bear ¥21.10 Fair Value ¥23.22 Bull ¥34.39
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥1.11 per share) are deliberately not added. 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. Evidence ⓘEvidence = 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.
Highest evidence
Residual Income ¥21.15 ¥23.27 ¥34.53 76
DDM Multi-Stage ¥7.00 ¥12.52 ¥15.93 66
Gordon GGM ¥7.00 ¥15.28 ¥25.72 65
All 6 models by family
Dividend Discount
Gordon GGM ¥7.00 ¥15.28 ¥25.72 65
DDM Multi-Stage ¥7.00 ¥12.52 ¥15.93 66
Multiples
P/E Multiple ¥21.42 ¥28.56 ¥35.70 63
P/B Multiple ¥25.49 ¥33.99 ¥42.49 55
Asset-Based
NCAV (Graham) ¥12.14 ¥16.27 ¥24.28 54
Economic Profit
Residual Income ¥21.15 ¥23.27 ¥34.53 76

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Quality Score breakdown

Overall quality 44/100

Of which business quality 35 · Market factors (momentum, volatility) 66

Profitability 29
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 14
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 92
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 21/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.5%
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.
−6.5%
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.
−1.1%
Revenue growth 34 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.
+21.1%
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.
+13.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.1%
Dividend (yield on the price)5.1%
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.8% vs 5%, 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.15% → 23%

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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.Banks - Regional · 1074 stocks

Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 44 · Bottom 25%
Fair Value upside +100% · Top 25%
Profitability
Return on equity (TTM) 8% · Below median
Return on assets 1% · Below median
Net margin (TTM) 47% · Top 25%
Operating margin (TTM) 64% · Top 25%
Growth and dividend
Revenue growth 4% · Below median
Dividend yield (TTM) 5.1% · Top 25%
Balance sheet
Debt / equity 1.15× · Highest 25%

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 5.5× · Cheapest 25%
P/B 0.45× · Cheapest 25%
P/S (TTM) 2.29× · Cheapest 25%
EV/EBITDA 9.1× · Cheaper than median
PEG 0.90× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 11
FUTURE (revenue growth)20 · sector 45
PAST (return on equity)33 · sector 41
HEALTH (low debt)43 · sector 85
DIVIDEND (yield)100 · sector 53

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
DBS Group DBS19 20.20 THB 6.69 THB −67%
China Merchants Bank Co 3968 HK$51.35 HK$78.59 +53%
Intesa Sanpaolo S.p.A ISP €6.74 €4.04 −40%
HDFC Bank Limited HDB $23.16 $15.60 −33%
BNP Paribas SA BNP €102.32 €105.99 +4%
UniCredit S.p.A UCG €82.92 €77.62 −6%
Mizuho Financial Group MFG $11.15 $9.67 −13%
ICICI Bank Limited ICICIBANK ₹1,359 ₹636.31 −53%
The PNC Financial Services Group PNC $231.49 $159.52 −31%
Oversea-Chinese Banking Corporation O39 31.28 SGD 19.80 SGD −37%

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Ping An Bank Co Ltd · Fair Value
¥23.22 +49%Fair Value
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Cite: Fair Value Calculator (2026). "Ping An Bank Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/000001

Frequently asked questions

Is Ping An Bank Co Ltd (000001) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of ¥23.22 versus a price of ¥11.73, about +98% upside (undervalued).
What is the fair value of 000001?
Our model-based fair value for Ping An Bank Co Ltd is ¥23.22 (as of Sep 18, 2026), built from audited fundamentals. The current price: ¥11.73.
What is the quality score of 000001?
Ping An Bank Co Ltd has a Quality Score of 44/100. 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 Ping An Bank Co Ltd (000001)?
Our model-based price target is the fair value of ¥23.22 (as of Sep 18, 2026) from 6 valuation models. Cautious scenario ¥21.10, optimistic scenario ¥34.39. It is a calculation from audited fundamentals, not an analyst target.
What is the Ping An Bank Co Ltd stock forecast for 2026?
Our models put fair value at ¥23.22, about +98% upside versus a price of ¥11.73 (undervalued). Cautious scenario ¥21.10, optimistic scenario ¥34.39. The calculation is refreshed regularly with new filings.
What is the revenue of Ping An Bank Co Ltd (000001)?
Ping An Bank Co Ltd reported trailing-twelve-month revenue of about 92.1B CNY (latest available figure, as of Sep 18, 2026).
Does Ping An Bank Co Ltd pay a dividend?
Ping An Bank Co Ltd currently shows a dividend yield of about 5.08% relative to its recent price (as of Sep 18, 2026).
What is the intrinsic value of Ping An Bank Co Ltd (000001)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ping An Bank Co Ltd it is ¥23.22 per share (as of Sep 18, 2026), against a price of ¥11.73. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Ping An Bank Co Ltd stock overvalued or undervalued in 2026?
As of Sep 18, 2026, 000001 trades below its calculated fair value: price ¥11.73, fair value ¥23.22, a gap of about +98% (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 000001?
No. The price is what the market pays today (¥11.73); the fair value is what the company's own numbers justify (¥23.22). For Ping An Bank Co Ltd the two are ¥11.49 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ping An Bank Co Ltd worth?
The market values Ping An Bank Co Ltd at about 228B CNY (market capitalisation, as of Sep 18, 2026). Per share that is ¥11.73; our models calculate a fair value of ¥23.22 per share.
What do the bullish and bearish scenarios say about 000001?
Our models span a range for Ping An Bank Co Ltd: cautious scenario ¥21.10, base ¥23.22, optimistic ¥34.39 per share (as of Sep 18, 2026, price ¥11.73). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 000001?
Ping An Bank Co Ltd trades at a price-to-earnings ratio of 5.5 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥23.22 is built from several models across several years. Other multiples: PEG 0.9, P/B 0.5, P/S 2.3, EV/EBITDA 9.1.
What is the PEG ratio of 000001?
The PEG ratio of Ping An Bank Co Ltd is 0.90 (P/E divided by earnings growth, as of Sep 18, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Ping An Bank Co Ltd (000001)?
Balance-sheet figures for Ping An Bank Co Ltd (as of Sep 18, 2026): return on equity 8.2%, debt of 1.15 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 000001 from its 52-week high?
Ping An Bank Co Ltd trades at ¥11.73, about 10% below its 52-week high of ¥13.06 and 12% above the low of ¥10.43 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of ¥23.22 is for.
Which stocks are comparable to Ping An Bank Co Ltd?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Ping An Bank Co Ltd stock attractive at the current price?
The data as of Sep 18, 2026: price ¥11.73, calculated fair value ¥23.22 (+98%), Quality Score 44/100, from 6 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 000001 calculated?
We run Ping An Bank Co Ltd through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥23.22, 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 16.1 % above its aggregate fair value. Ping An Bank Co Ltd currently trades 98 % 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 Ping An Bank Co Ltd (000001)?
The closing price on Sep 21, 2026 was ¥11.73. Our model-based fair value is ¥23.22, about +98% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ping An Bank Co Ltd right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (¥21.10). The market is more pessimistic than our downside scenario. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Ping An Bank Co Ltd (000001) come from?
Earnings per share at Ping An Bank Co Ltd grew +6.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.6 %, EBIT margin +1.9 %, tax rate +0.9 %, residual (interest, one-offs) +0.0 %. 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 Ping An Bank Co Ltd

How large is the market capitalisation of Ping An Bank Co Ltd (000001)?
The market capitalisation of Ping An Bank Co Ltd is 228B CNY (≈ $34.1B). 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 Ping An Bank Co Ltd (000001)?
The price-to-sales ratio of Ping An Bank Co Ltd is 1.04 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ping An Bank Co Ltd (000001)?
Earnings per share at Ping An Bank Co Ltd are ¥2.12 (price ÷ EPS = P/E 5.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ping An Bank Co Ltd (000001)?
The dividend yield of Ping An Bank Co Ltd is 5.1% (payout 28.1%). 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 Ping An Bank Co Ltd (000001)?
The net margin of Ping An Bank Co Ltd is 18.7% (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 Ping An Bank Co Ltd (000001)?
The return on equity (ROE) of Ping An Bank Co Ltd is 8.2% (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 Ping An Bank Co Ltd (000001)?
On an EBIT basis the return on assets of Ping An Bank Co Ltd is 1.0% (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 Ping An Bank Co Ltd (000001)?
The operating margin of Ping An Bank Co Ltd is 63.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ping An Bank Co Ltd (000001)?
Revenue at Ping An Bank Co Ltd is growing +3.9% versus a year earlier (3y avg −6.5%). 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 Ping An Bank Co Ltd (000001)?
Earnings per share at Ping An Bank Co Ltd are growing +8.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ping An Bank Co Ltd (000001) generate?
The free cash flow of Ping An Bank Co Ltd is −31.3B 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 Ping An Bank Co Ltd (000001) carry?
The net debt of Ping An Bank Co Ltd is 1.3T 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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