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China Vanke Co (000002) Fair Value & Analysis

Real Estate · CN · Market cap 38.7B CNY

CV China Vanke Co 000002 · SHE
Price¥3.13
Fair Value¥2.05
Upside-34.5%
Quality29/100
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Weak Growth
Loss-making · -39.3% net margin
Moderate debt · negative free cash flow
Trails peers (3/11)
Narrow moat 10/100
Evidence: Low Range ¥2.05 – ¥5.24 Share as image

Fair value as of: Aug 13, 2026

From 2 valuation models · updated 2 days ago

Below-average quality, and screening another 35% overvalued on our models.

What matters now

  • Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (¥2.05 to ¥5.24) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

¥27.83 ¥2.95 Fair Value ¥2.05 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ¥2.95 – ¥27.83 · fair‑value band ¥2.05 – ¥5.24 · the ¥3.13 price screens above the ¥2.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

China Vanke Co (000002) currently trades at ¥3.13, while our model-based Fair Value estimate is ¥2.05, implying the stock looks roughly 34.5% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, China Vanke Co generated revenue of 224B CNY at a net margin of -39.3%. Revenue declined 23.9% year over year. It earns a return on equity of -32.8%. Net debt stands at 128B CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥2.05 (bear case) to ¥5.24 (bull case); at ¥3.13, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 57% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -35%, 000002 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
EV/EBITDA ¥1.07 ¥4.26 ¥7.45 54
NCAV (Graham) ¥4.90 ¥6.57 ¥9.80 50
All 2 models by family
Multiples
EV/EBITDA ¥1.07 ¥4.26 ¥7.45 54
Asset-Based
NCAV (Graham) ¥4.90 ¥6.57 ¥9.80 50

Widest divergence: Asset-Based (¥6.57) versus Multiples (¥4.26). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

Revenue (TTM) 224B CNY
Revenue growth (YoY) -23.9%
Net margin -39.3%
Return on equity -32.8%
Free cash flow −4.2B CNY FY2025
Operating margin -1.2%
More key figures
EPS (TTM) ¥-7.42
EPS growth (YoY) -23.7%
Net debt 128B CNY FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 28 · Market factors (momentum, volatility) 27

Profitability 2
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 14
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 74
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

China Vanke Co., Ltd., together with its subsidiaries, engages in property development, operation, and management in Mainland China, Hong Kong, the United States, the United Kingdom, and internationally.

Full company description

China Vanke Co., Ltd., together with its subsidiaries, engages in property development, operation, and management in Mainland China, Hong Kong, the United States, the United Kingdom, and internationally. The company is involved in the development and sale of residential properties; construction contracts; commercial property operation and asset management; other related services; community residential and consumption services; enterprise and city space services; artificial intelligence; IoT; and business process as a service solution. It also engages in the provision of property services; rental housing; real estate investment and development; hotel and vacation assets; pig farming; logistics and warehousing; and retail property development and operation. The company was incorporated in May 30th, 1984 and is headquartered in Shenzhen, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Vanke Co reported revenue of ¥233B in FY2025 versus ¥453B in FY2021, a compound −15.3%/yr. Reported net income was −¥88.6B in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
233B CNY
Latest YoY
−32.0%
Avg. growth/yr (3Y) 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.
−22.6%
Avg. growth/yr (5Y) 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.
−11.0%
Avg. growth/yr (35Y) 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.
+22.0%
Revenue −15.3%/yr
FY21 ¥453B
FY22 ¥504B
FY23 ¥466B
FY24 ¥343B
FY25 ¥233B
Net income
FY21 ¥22.5B
FY22 ¥22.7B
FY23 ¥12.2B
FY24 −¥49.5B
FY25 −¥88.6B
Character of growth · EPS growth decomposed (2013-2024) +0.1 % p.a.
Revenue per share +13.2 pp

of which total revenue +14.0 pp · buybacks/dilution −0.8 pp

EBIT margin −8.1 pp
Tax rate −2.2 pp
Residual (interest, one-offs) −2.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

000002 screens 35% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "China Vanke Co Fair Value". https://www.fairvalue-calculator.com/stock/000002

Peer Group

Real Estate - Development · 593 stocks

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.

Quality Score 28 · Bottom 25%
Fair Value upside −35% · Below median
Return on assets -1% · Bottom 25%
Net margin (TTM) -39% · Bottom 25%
Operating margin (TTM) -1% · Below median
Revenue growth -24% · Below median
Debt / equity 1.44× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
PEG 0.27× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 47
FUTURE 0 · sector 0
PAST 0 · sector 10
HEALTH 28 · sector 85
DIVIDEND 0 · sector 58

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹661.75 ₹146.13 -78%
Lodha Developers Limited LODHA ₹1,209 ₹583.43 -52%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,150 IDR 1,330 IDR -78%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 595.00 IDR 1,488 IDR +150%
PT Sentul City Tbk, BKSL 73.00 IDR 84.16 IDR +15%
PT Ciputra Development Tbk, CTRA 610.00 IDR 1,525 IDR +150%
Khang Dien House Trading and Investment Joint Stock Company KDH 18,150 VND 20,338 VND +12%
PT Duta Pertiwi Tbk DUTI 4,300 IDR 6,239 IDR +45%
PT Puradelta Lestari Tbk DMAS 147.00 IDR 164.33 IDR +12%

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Frequently asked questions

Is China Vanke Co (000002) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥2.05 versus a price of ¥3.13, about −35% (overvalued).
What is the fair value of 000002?
Our model-based fair value for China Vanke Co is ¥2.05 (as of Aug 13, 2026), built from audited fundamentals. The current price is ¥3.13.
What is the quality score of 000002?
China Vanke Co has a Quality Score of 29/100. 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 revenue of China Vanke Co (000002)?
China Vanke Co reported trailing-twelve-month revenue of about 224B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 000002?
The net profit margin of China Vanke Co is about -39.3%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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