ChinaLin Securities Co Ltd (002945) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of ChinaLin Securities Co Ltd stock ¥4.77, price ¥15.48, that is 69.2% below the price, quality 72 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ¥9.11 – ¥20.66 · fair‑value band ¥2.17 – ¥6.45 · the ¥15.48 price screens above the ¥4.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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ChinaLin Securities Co., Ltd, together with its subsidiaries, engages in wealth management, investment banking, asset management, and proprietary trading in China. The company also various fund types, such as capital preservation, stock, QDII, bond, monetary, hybrid, and other products.
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In addition, it is involved in alternative investment; private equity fund management; venture capital and business management; information technology service business. The company was founded in 1997 and is headquartered in Shenzhen, China.
ChinaLin Securities Co., Ltd operates as a subsidiary of Shenzhen Li Ye Group Co., Ltd.
Stock analysis
ChinaLin Securities Co Ltd (002945) currently trades at ¥15.48, while our model-based Fair Value estimate is ¥4.77, 69% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥6.13 per share, and 0 of the 13 models we run sit above the ¥15.48 price.
Bear case: the Dividend Discount group reads lowest at ¥1.03, and 13 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥2.17 (bear) to ¥6.45 (bull), the price of ¥15.48 sits above 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 72/100 (solid quality), in the Financial Services sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
ChinaLin Securities Co Ltd reported revenue of 1.7B CNY in FY2025 versus 1.8B CNY in FY2021, a compound −2.0%/yr. Reported net income was 506M CNY in FY2025, compounding +1.1%/yr from FY2021.
Key figures
Market cap 41.8B CNY (≈ $6.3B) Mid · P/E ratio 91.1 · P/S ratio 24.9 · EPS (TTM) ¥0.1700 · Dividend yield 0.4% · Net margin 25.5% · Return on equity 5.9% · Return on assets (EBIT) 2.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −69%, 002945 screens richer than that median.
Fair Value models
Bear¥2.17Fair Value ¥4.77Bull¥6.45
Price ¥15.48 · Downside -69.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.0966 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+5.8%
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.
+0.1%
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.
−1.2%
Start year 2020 (pandemic). Over 10 years: +0.2% a year
Revenue growth 20 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.
+16.8%
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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. Basis: EBIT basis.
−1.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.0%
Dividend (yield on the price)0.4%
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.0.9% vs −2.4%, picking up
Profit margin 2019 to 2024 ⓘ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.42% → 27%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.3%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−7.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −9.2% a year for the price.
Compare ChinaLin Securities Co Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Capital Markets · 384 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside−69.2% · Bottom 25%
Profitability
Return on equity (12 months)5.9% · Below median
Return on assets1.8% · Below median
Net margin (12 months)25.5% · Above median
Operating margin (12 months)33.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)−4.0% · Below median
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.08× · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
P/E (12 months)91.1× · Priciest 25%
P/B5.76× · Priciest 25%
P/S (12 months)24.93× · Priciest 25%
Price / free cash flow (fiscal year)15.2× · Pricier than median
EV/EBITDA34.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)0· sector 67
PAST (return on equity)24· sector 38
HEALTH (low debt)96· sector 94
DIVIDEND (yield)7· sector 47
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ChinaLin Securities Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/002945
Frequently asked questions
Is ChinaLin Securities Co Ltd (002945) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥4.77 versus a price of ¥15.48, about 69% lower (overvalued).
What is the fair value of 002945?
Our model-based fair value for ChinaLin Securities Co Ltd is ¥4.77 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥15.48.
What is the quality score of 002945?
ChinaLin Securities Co Ltd has a Quality Score of 72/100. 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 ChinaLin Securities Co Ltd (002945)?
Our model-based price target is the fair value of ¥4.77 (as of Nov 6, 2026) from 13 valuation models. Cautious scenario ¥2.17, optimistic scenario ¥6.45. It is a calculation from audited fundamentals, not an analyst target.
What is the ChinaLin Securities Co Ltd stock forecast for 2026?
Our models put fair value at ¥4.77, about 69% lower versus a price of ¥15.48 (overvalued). Cautious scenario ¥2.17, optimistic scenario ¥6.45. The calculation is refreshed regularly with new filings.
What is the revenue of ChinaLin Securities Co Ltd (002945)?
ChinaLin Securities Co Ltd reported trailing-twelve-month revenue of about 1.7B CNY (latest available figure, as of Nov 6, 2026).
Does ChinaLin Securities Co Ltd pay a dividend?
ChinaLin Securities Co Ltd currently shows a dividend yield of 0.37% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of ChinaLin Securities Co Ltd (002945) and when is the ex-dividend date?
ChinaLin Securities Co Ltd pays a dividend of ¥0.057 per share a year, a dividend yield of 0.4%. The last ex-dividend date was Jul 17, 2026. A dividend has been paid every year since at least 2019. The payout ratio is 33.5% of earnings. Free cash flow covers the dividend 17.82 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into ChinaLin Securities Co Ltd (002945)?
For today's price to be fair in a discounted-cash-flow model, ChinaLin Securities Co Ltd would have to grow free cash flow by -7.7 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 002945 use?
Our models discount ChinaLin Securities Co Ltd at 9.2 %: a base by market capitalisation (mid), damped by beta 0.54, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ChinaLin Securities Co Ltd that is -7.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has ChinaLin Securities Co Ltd (002945) delivered so far?
Over the past 5 years revenue at ChinaLin Securities Co Ltd grew -1.2 % a year. The price currently implies free-cash-flow growth of -7.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ChinaLin Securities Co Ltd (002945) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into ChinaLin Securities Co Ltd (-7.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ChinaLin Securities Co Ltd (002945)?
The free-cash-flow yield on the price is 6.56 %: that much free cash flow ChinaLin Securities Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ChinaLin Securities Co Ltd (002945)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ChinaLin Securities Co Ltd it is ¥4.77 per share (as of Nov 6, 2026), against a price of ¥15.48. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is ChinaLin Securities Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 002945 trades above its calculated fair value: price ¥15.48, fair value ¥4.77, a gap of about −69% (overvalued). 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 002945?
No. The price is what the market pays today (¥15.48); the fair value is what the company's own numbers justify (¥4.77). For ChinaLin Securities Co Ltd the two are ¥10.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is ChinaLin Securities Co Ltd worth?
The market values ChinaLin Securities Co Ltd at about 41.8B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥15.48; our models calculate a fair value of ¥4.77 per share.
What do the bullish and bearish scenarios say about 002945?
Our models span a range for ChinaLin Securities Co Ltd: cautious scenario ¥2.17, base ¥4.77, optimistic ¥6.45 per share (as of Nov 6, 2026, price ¥15.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 002945?
ChinaLin Securities Co Ltd trades at a price-to-earnings ratio of 91.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥4.77 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings: 81.8. Other multiples: P/B 5.8, P/S 24.9, EV/EBITDA 34.3.
How solid is the balance sheet of ChinaLin Securities Co Ltd (002945)?
Balance-sheet figures for ChinaLin Securities Co Ltd (as of Nov 6, 2026): return on equity 5.9%, debt of 0.08 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 002945 from its 52-week high?
ChinaLin Securities Co Ltd trades at ¥15.48, about 25% below its 52-week high of ¥20.66 and 22% above the low of ¥12.66 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥4.77 is for.
Which stocks are comparable to ChinaLin Securities Co Ltd?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 ChinaLin Securities Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price ¥15.48, calculated fair value ¥4.77 (−69%), Quality Score 72/100, from 13 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 002945 calculated?
We run ChinaLin Securities Co Ltd through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of ¥4.77 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. ChinaLin Securities Co Ltd itself currently trades above fair value. 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 ChinaLin Securities Co Ltd (002945)?
The closing price on Nov 6, 2026 was ¥15.48. Our model-based fair value is ¥4.77, about 69% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ChinaLin Securities Co Ltd right now?
The price sits above even our optimistic bull case (¥6.45). The favourable scenario is already priced in. The model range is unusually wide (¥2.17 to ¥6.45). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (72/100) and above fair value, neither a clear bargain nor a standout compounder. 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 ChinaLin Securities Co Ltd (002945) come from?
Earnings per share at ChinaLin Securities Co Ltd grew −10.4 % a year from 2013 to 2024. Broken into its drivers: revenue per share −3.7 %, EBIT margin −8.0 %, tax rate +1.2 %, 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 ChinaLin Securities Co Ltd
How large is the market capitalisation of ChinaLin Securities Co Ltd (002945)?
The market capitalisation of ChinaLin Securities Co Ltd is 41.8B CNY (≈ $6.3B). 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 ChinaLin Securities Co Ltd (002945)?
The price-to-sales ratio of ChinaLin Securities Co Ltd is 24.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ChinaLin Securities Co Ltd (002945)?
Earnings per share at ChinaLin Securities Co Ltd are ¥0.1700 (price ÷ EPS = P/E 91.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ChinaLin Securities Co Ltd (002945)?
The dividend yield of ChinaLin Securities Co Ltd is 0.4% (payout 33.5%). 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 ChinaLin Securities Co Ltd (002945)?
The net margin of ChinaLin Securities Co Ltd is 25.5% (last twelve months). 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 ChinaLin Securities Co Ltd (002945)?
The return on equity (ROE) of ChinaLin Securities Co Ltd is 5.9% (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 ChinaLin Securities Co Ltd (002945)?
On an EBIT basis the return on assets of ChinaLin Securities Co Ltd is 2.1% (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 ChinaLin Securities Co Ltd (002945)?
The operating margin of ChinaLin Securities Co Ltd is 33.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ChinaLin Securities Co Ltd (002945)?
Revenue at ChinaLin Securities Co Ltd is growing −4.0% versus a year earlier (3y avg +0.1%). 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 ChinaLin Securities Co Ltd (002945)?
Earnings per share at ChinaLin Securities Co Ltd are growing −16.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does ChinaLin Securities Co Ltd (002945) hold?
ChinaLin Securities Co Ltd holds more cash than debt, 14.2B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 6, 2026