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CMBC Capital Holdings (1141) Fair Value & Analysis

Financial Services · HK · Market cap HK$4.8B

CC CMBC Capital Holdings 1141 · HK
PriceHK$0.7200
Fair ValueHK$0.2900
Upside-59.7%
Quality51/100
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Weak Growth
Highly profitable · 45.6% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Wide moat 66/100
Evidence: High Range HK$0.2200 – HK$0.3600 Share as image

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.4200 to HK$0.2900 (−31.0%) since Aug 5, 2026. Share price −85.3% over the past month.

A solid business, but screening 60% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.3600). The favourable scenario is already priced in.
  • Solid but not exceptional quality (51/100) 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.
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Price vs Fair Value (5 years)

HK$6.47 HK$0.1730 Fair Value HK$0.2900 Feb 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 HK$0.1730 – HK$6.47 · fair‑value band HK$0.2200 – HK$0.3600 · the HK$0.7200 price screens above the HK$0.2900 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

CMBC Capital Holdings (1141) currently trades at HK$0.7200, while our model-based Fair Value estimate is HK$0.2900, implying the stock looks roughly 59.7% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Financial Services 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: high).

Over the trailing twelve months, CMBC Capital Holdings generated revenue of HK$259M at a net margin of 45.6%. Revenue grew 79.7% year over year. It earns a return on equity of 10.3%. Net debt stands at HK$2.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.2200 (bear case) to HK$0.3600 (bull case); at HK$0.7200, the current price sits above 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. For context, the median of 10 Financial Services peers we cover trades at -22% fair-value upside, at -60%, 1141 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
Residual Income HK$0.2100 HK$0.2200 HK$0.3000 76
P/E Multiple HK$0.2200 HK$0.2900 HK$0.3600 63
P/B Multiple HK$0.2500 HK$0.3400 HK$0.4200 55
All 7 models by family
DCF Models
Owner Earnings HK$0.4800 HK$0.9300 HK$1.83 31
Earnings-Based
Graham-Dodd HK$0.1500 HK$1.06 HK$1.49 54
Lynch FV HK$0.3600 HK$0.5200 HK$0.6700 50
Multiples
P/E Multiple HK$0.2200 HK$0.2900 HK$0.3600 63
P/B Multiple HK$0.2500 HK$0.3400 HK$0.4200 55
Asset-Based
NCAV (Graham) HK$0.1200 HK$0.1600 HK$0.2400 50
Economic Profit
Residual Income HK$0.2100 HK$0.2200 HK$0.3000 76

Widest divergence: DCF Models (HK$0.9300) versus Asset-Based (HK$0.1600). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$259M
Revenue growth (YoY) +79.7%
Net margin 45.6%
Return on equity 10.3%
Free cash flow −HK$351M FY2025
P/E ratio 31.6 as of Jul 2, 2026
More key figures
Operating margin 57.0%
EPS (TTM) HK$0.1100
EPS growth (YoY) +49.9%
Net debt HK$2.4B FY2025

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 43 · Market factors (momentum, volatility) 35

Profitability 38
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 93
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

CMBC Capital Holdings Limited, an investment holding company, provides loan financing services primarily in Hong Kong. It operates through Securities, Fixed-Income Direct Investment, Other Investment and Financing, Asset Management, Corporate Finance and Advisory, and Others segments.

Full company description

CMBC Capital Holdings Limited, an investment holding company, provides loan financing services primarily in Hong Kong. It operates through Securities, Fixed-Income Direct Investment, Other Investment and Financing, Asset Management, Corporate Finance and Advisory, and Others segments. The company offers brokerage, securities margin financing, and debt securities underwriting/placing services; and invests and trades in fixed-income and equity securities, bonds, and funds, as well as providing money lending and loan financing services. It also provides asset management services; sponsorship, equity underwriting, corporate financing, financial advisory, and financial arrangement, as well as client referral services; and futures and option dealing services. The company was formerly known as Skyway Securities Group Limited and changed its name to CMBC Capital Holdings Limited in May 2017. CMBC Capital Holdings Limited was incorporated in 1997 and is headquartered in Central, Hong Kong. CMBC Capital Holdings Limited operates as a subsidiary of CMBC International Investment Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CMBC Capital Holdings reported revenue of HK$490M in FY2025 versus HK$895M in FY2021, a compound −14.0%/yr. Reported net income was HK$151M in FY2025, compounding −15.1%/yr from FY2021.

Growth Quality 25/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$490M
Latest YoY
+81.6%
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.
−1.3%
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.
−13.6%
Avg. growth/yr (26Y) 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.
+2.0%
Revenue −14.0%/yr
FY21 HK$895M
FY22 HK$510M
FY23 HK$172M
FY24 HK$270M
FY25 HK$490M
Net income −15.1%/yr
FY21 HK$291M
FY22 −HK$437M
FY23 −HK$572M
FY24 HK$50.8M
FY25 HK$151M

1141 screens 60% overvalued. Compare with Mirae Asset Securities Co →

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Cite: Fair Value Calculator (2026). "CMBC Capital Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1141

Peer Group

Capital Markets · 426 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 52 · Below median
Fair Value upside −60% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 4% · Above median
Net margin (TTM) 46% · Top 25%
Operating margin (TTM) 57% · Top 25%
Revenue growth 80% · Top 25%

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 31.6× · Pricier than 75% of peers
P/B 2.98× · Pricier than 75% of peers
P/S (TTM) 18.71× · Pricier than 75% of peers
EV/EBITDA 13.1× · 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 0 · sector 15
FUTURE 100 · sector 92
PAST 41 · sector 30
HEALTH 100 · sector 93
DIVIDEND 0 · sector 42

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

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 Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Mirae Asset Securities Co 006800 38,050 KRW 18,009 KRW -53%
Meritz Financial Group 138040 118,600 KRW 52,717 KRW -56%
Korea Investment Holdings 071050 200,500 KRW 189,335 KRW -6%
NH Investment & Securities Co 005940 28,550 KRW 22,396 KRW -22%
Samsung Securities Co 016360 93,100 KRW 75,573 KRW -19%
Kiwoom Securities Co 039490 299,000 KRW 214,812 KRW -28%
SSI Securities Corporation SSI 25,300 VND 17,375 VND -31%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 294.30 ARS -6%
Daishin Securities Co 003540 26,950 KRW 48,790 KRW +81%
SK Securities Co 001515 4,285 KRW 1,395 KRW -67%

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Frequently asked questions

Is CMBC Capital Holdings (1141) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.2900 versus a price of HK$0.7200, about −60% (overvalued).
What is the fair value of 1141?
Our model-based fair value for CMBC Capital Holdings is HK$0.2900 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.7200.
What is the quality score of 1141?
CMBC Capital Holdings has a Quality Score of 51/100. 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 CMBC Capital Holdings (1141)?
CMBC Capital Holdings reported trailing-twelve-month revenue of about HK$259M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1141?
The net profit margin of CMBC Capital Holdings is about 45.6%, meaning it keeps roughly 45.6% of revenue as net income. 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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