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Guoyuan Securities Company (000728) Fair Value & Analysis

Financial Services · CN · Market cap 31.2B CNY

GS Guoyuan Securities Company 000728 · SHE
Price¥7.21
Fair Value¥8.74
Upside+21.2%
Quality63/100
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Mixed Growth
Highly profitable · 38.6% net margin
Low debt · generates free cash flow
2.58% dividend yield
Mixed vs. peers (7/13)
Moderate moat 61/100
Evidence: High Range ¥6.56 – ¥10.93 Share as image

Fair value as of: Jul 25, 2026

From 13 valuation models · updated 16 days ago

Share price −2.7% over the past month.

A solid business, screening 21% undervalued on our models.

What matters now

  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

¥9.49 ¥5.15 Fair Value ¥8.74 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range ¥5.15 – ¥9.49 · fair‑value band ¥6.56 – ¥10.93 · the ¥7.21 price screens below the ¥8.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Guoyuan Securities Company (000728) currently trades at ¥7.21, while our model-based Fair Value estimate is ¥8.74, implying the stock looks roughly 21.2% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Guoyuan Securities Company generated revenue of 6.0B CNY at a net margin of 38.6%. Revenue declined 12.8% year over year. It earns a return on equity of 6.1%. The balance sheet holds a net cash position of 16.2B CNY. Fundamentals as of Jul 25, 2026

Our scenario range runs from ¥6.56 (bear case) to ¥10.93 (bull case); at ¥7.21, 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 28% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 21%, 000728 screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥22.69 ¥33.58 ¥52.27 80
Residual Income ¥6.77 ¥7.05 ¥7.21 76
Rev-Margin DCF ¥17.83 ¥21.51 ¥26.75 74
All 13 models by family
DCF Models
Owner Earnings ¥20.31 ¥29.18 ¥46.79 31
5Y P/E Exit ¥18.95 ¥24.11 ¥30.37 38
10Y P/E Exit ¥20.17 ¥25.67 ¥34.21 35
Earnings-Based
Graham-Dodd ¥3.50 ¥21.93 ¥30.62 54
Lynch FV ¥6.32 ¥9.03 ¥11.73 50
Dividend Discount
Gordon GGM ¥3.53 ¥7.33 ¥11.63 70
DDM Multi-Stage ¥3.53 ¥6.18 ¥7.69 61
Multiples
P/E Multiple ¥5.01 ¥6.69 ¥8.36 63
P/B Multiple ¥6.56 ¥8.74 ¥10.93 55
Asset-Based
NCAV (Graham) ¥4.24 ¥5.69 ¥8.49 50
Growth DCF
Growth DCF ¥22.69 ¥33.58 ¥52.27 80
Rev-Margin DCF ¥17.83 ¥21.51 ¥26.75 74
Economic Profit
Residual Income ¥6.77 ¥7.05 ¥7.21 76

Widest divergence: DCF Models (¥25.67) versus Asset-Based (¥5.69). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 6.0B CNY
Revenue growth (YoY) -12.8%
Net margin 38.6%
Return on equity 6.1%
Free cash flow 3.1B CNY FY2024
P/E ratio 13.5
More key figures
Operating margin 49.9%
EPS (TTM) ¥0.5300
Dividend yield 2.6%
EPS growth (YoY) -20.0%
Net cash 16.2B CNY FY2024

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 43

Profitability 32
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 20
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

Guoyuan Securities Company Limited operates as a securities company in China and internationally. The company operates through six segments: Wealth & Credit, Financial Markets, Investment Banking, Asset Management, Institutional, and International.

Full company description

Guoyuan Securities Company Limited operates as a securities company in China and internationally. The company operates through six segments: Wealth & Credit, Financial Markets, Investment Banking, Asset Management, Institutional, and International. It offers wealth management services, such as stocks, funds, bonds, income certificates, cash management products, and derivatives such as options and futures; fixed income foreign exchange products, equity investment, securities market making, innovative finance, and alternative investments; equity financing, debt financing, mergers and acquisitions, financial advisory, and the New Third Board business; asset management services covering private equity funds, public funds, etc.; and research support, investment and financing matching, comprehensive financial product allocation, and customized service solutions. The company was founded in 1997 and is headquartered in Hefei, China.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Guoyuan Securities Company reported revenue of ¥9.8B in FY2024 versus ¥5.6B in FY2020, a compound +15.3%/yr. Reported net income was ¥2.2B in FY2024, compounding +13.1%/yr from FY2020.

Growth Quality 87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
9.8B CNY
Latest YoY
+19.9%
Avg. growth/yr (3Y)
+10.2%
Avg. growth/yr (5Y)
+17.6%
Avg. growth/yr (21Y)
+11.3%
Revenue +15.3%/yr
FY20 ¥5.6B
FY21 ¥7.3B
FY22 ¥6.6B
FY23 ¥8.2B
FY24 ¥9.8B
Net income +13.1%/yr
FY20 ¥1.4B
FY21 ¥1.9B
FY22 ¥1.7B
FY23 ¥1.9B
FY24 ¥2.2B

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Cite: Fair Value Calculator (2026). "Guoyuan Securities Company Fair Value". https://www.fairvalue-calculator.com/stock/000728

Peer Group

Capital Markets · 425 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 65 · Top 25%
Fair Value upside +21% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 1% · Below median
Net margin (TTM) 39% · Top 25%
Operating margin (TTM) 50% · Top 25%
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.21× · Higher than median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 13.5× · Cheaper than median
P/B 0.84× · Cheaper than median
P/S (TTM) 5.18× · Pricier than median
P/FCF 1.5× · Pricier than median

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 62 · sector 9
FUTURE 0 · sector 96
PAST 24 · sector 30
HEALTH 89 · sector 93
DIVIDEND 52 · sector 36

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 Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).

Stock Price Fair Value vs Fair Value
Huatai Securities Co HTSC $0.2700 $0.0400 -85%
Mirae Asset Securities Co 006800 38,750 KRW 31,645 KRW -18%
Meritz Financial Group 138040 117,000 KRW 87,706 KRW -25%
Korea Investment Holdings 071050 239,000 KRW 318,825 KRW +33%
NH Investment & Securities Co 005940 31,000 KRW 37,133 KRW +20%
Samsung Securities Co 016360 107,700 KRW 126,487 KRW +17%
Motilal Oswal Financial Services Limited MOTILALOFS ₹967.00 ₹299.65 -69%
Kiwoom Securities Co 039490 322,000 KRW 358,091 KRW +11%
SSI Securities Corporation SSI 24,250 VND 28,021 VND +16%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 120.22 ARS -62%

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Frequently asked questions

Is Guoyuan Securities Company (000728) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of ¥8.74 versus a price of ¥7.21, about +21% (undervalued).
What is the fair value of 000728?
Our model-based fair value for Guoyuan Securities Company is ¥8.74 (as of Jul 25, 2026), built from audited fundamentals. The current price is ¥7.21.
What is the quality score of 000728?
Guoyuan Securities Company has a Quality Score of 63/100. 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 Guoyuan Securities Company (000728)?
Guoyuan Securities Company reported trailing-twelve-month revenue of about 6.0B CNY (latest available figure, as of Jul 25, 2026).
What is the net profit margin of 000728?
The net profit margin of Guoyuan Securities Company is about 38.6%, meaning it keeps roughly 38.6% of revenue as net income. Based on the latest reported figures.
Does Guoyuan Securities Company pay a dividend?
Guoyuan Securities Company currently shows a dividend yield of about 2.58% relative to its recent price (as of Jul 25, 2026).

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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