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CITIC Resources Holdings (1205) Fair Value & Analysis

Basic Materials · HK · Market cap HK$3.8B

CR CITIC Resources Holdings 1205 · HK
PriceHK$0.4900
Fair ValueHK$0.7840
Upside+60.0%
Quality55/100
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Healthy Growth
Thin margins · 1.1% net margin
Low debt · generates free cash flow
Ranks above peers (12/15)
Narrow moat 18/100
Evidence: High Range HK$0.7416 – HK$0.7840 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.7400 to HK$0.7840 (+5.9%) since Aug 5, 2026. Share price +3.2% over the past month.

A solid business, screening 60% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$0.7416). The market is more pessimistic than our downside scenario.
  • Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
  • The models converge in a tight band (HK$0.7416 to HK$0.7840), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

HK$0.5900 HK$0.2265 Fair Value HK$0.7840 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 HK$0.2265 – HK$0.5900 · fair‑value band HK$0.7416 – HK$0.7840 · the HK$0.4900 price screens below the HK$0.7840 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

CITIC Resources Holdings (1205) currently trades at HK$0.4900, while our model-based Fair Value estimate is HK$0.7840, implying the stock looks roughly 60.0% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Basic Materials 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, CITIC Resources Holdings generated revenue of HK$15.0B at a net margin of 1.1%. Revenue grew 0.5% year over year. It earns a return on equity of 2.2%. The balance sheet holds a net cash position of HK$41.2M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.7416 (bear case) to HK$0.7840 (bull case); at HK$0.4900, the current price sits below 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 25% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -42% fair-value upside, at 60%, 1205 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 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
Growth DCF HK$0.9300 HK$1.56 HK$2.58 80
Residual Income HK$0.7700 HK$0.7300 HK$0.5600 76
Rev-Margin DCF HK$0.6700 HK$0.9700 HK$1.58 74
All 24 models by family
DCF Models
FCF DCF HK$0.9800 HK$1.38 HK$2.63 38
Owner Earnings HK$1.03 HK$2.01 HK$3.98 31
5Y Revenue Exit HK$0.6400 HK$0.8700 HK$1.36 39
5Y EBITDA Exit HK$1.16 HK$1.92 HK$3.43 41
5Y P/E Exit HK$0.7000 HK$1.17 HK$1.80 38
10Y Revenue Exit HK$0.7300 HK$1.19 HK$1.44 36
10Y EBITDA Exit HK$1.12 HK$2.29 HK$4.36 37
10Y P/E Exit HK$0.7900 HK$1.32 HK$2.15 35
Earnings-Based
Graham-Dodd HK$0.1500 HK$1.03 HK$1.45 54
Lynch FV HK$0.5300 HK$0.7600 HK$0.9900 50
PEG = 1.0 HK$0.5300 HK$0.7600 HK$0.9900 46
EPV HK$0.3900 HK$0.4100 HK$0.4300 59
Multiples
P/E Multiple HK$0.3400 HK$0.4600 HK$0.5700 63
P/S Multiple HK$0.2800 HK$0.3700 HK$0.4600 58
P/B Multiple HK$0.2800 HK$0.3700 HK$0.4600 55
EV/EBIT HK$0.5700 HK$0.6900 HK$0.8000 53
EV/EBITDA HK$1.20 HK$1.52 HK$1.84 54
EV/Revenue HK$0.4700 HK$0.5800 HK$0.6800 43
Asset-Based
NCAV (Graham) HK$0.5600 HK$0.7500 HK$1.12 50
Growth DCF
Growth DCF HK$0.9300 HK$1.56 HK$2.58 80
Rev-Margin DCF HK$0.6700 HK$0.9700 HK$1.58 74
Economic Profit
Residual Income HK$0.7700 HK$0.7300 HK$0.5600 76
ROIC Compounder HK$0.3900 HK$0.4100 HK$0.4300 72
Growth Earnings
Growth-Adj P/E HK$0.7000 HK$0.9900 HK$1.29 68

Widest divergence: DCF Models (HK$1.32) versus Economic Profit (HK$0.4100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$15.0B
Revenue growth (YoY) +0.5%
Net margin 1.1%
Return on equity 2.2%
Free cash flow HK$368M FY2025
P/E ratio 24.5
More key figures
Operating margin 1.3%
EPS (TTM) HK$0.0200
EPS growth (YoY) -91.4%
Net cash HK$41.2M FY2025

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

Quality Score breakdown

Overall quality 55/100

Of which business quality 56 · Market factors (momentum, volatility) 50

Profitability 29
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 82
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

CITIC Resources Holdings Limited, an investment holding company, engages in the exploration, development, and production of oil and coal in Hong Kong, Mainland China, Australia, Europe, other Asian countries, and internationally. The company operates in four segments: Aluminum Smelting; Coal; Crude Oil; and Import and Export of Commodities.

Full company description

CITIC Resources Holdings Limited, an investment holding company, engages in the exploration, development, and production of oil and coal in Hong Kong, Mainland China, Australia, Europe, other Asian countries, and internationally. The company operates in four segments: Aluminum Smelting; Coal; Crude Oil; and Import and Export of Commodities. The Aluminum Smelting segment operates a Portland aluminum smelter which sources alumina; and produces aluminum ingots in Australia. The Coal segment operates coal mines; and sells coal in Australia. The Crude Oil segment explores, develops, and operates oilfields, as well as sells crude oil in Indonesia and China. The Import and Export of Commodities segment exports various commodity products; and imports other commodities and manufactured goods. It also engages in alumina refinery; financing; oil technology development; and property holding activities. In addition, the company provides consulting and management services; invests in bauxite mining; and trades in oil and gas. The company was incorporated in 1997 and is headquartered in Kowloon, Hong Kong. CITIC Resources Holdings Limited is a subsidiary of CITIC Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CITIC Resources Holdings reported revenue of HK$15.0B in FY2025 versus HK$4.3B in FY2021, a compound +36.2%/yr. Reported net income was HK$171M in FY2025, compounding −37.3%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$15.0B
Latest YoY
+57.6%
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.
+36.6%
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.
+39.3%
Avg. growth/yr (25Y) 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.
+24.8%
Revenue +36.2%/yr
FY21 HK$4.3B
FY22 HK$5.9B
FY23 HK$3.8B
FY24 HK$9.5B
FY25 HK$15.0B
Net income −37.3%/yr
FY21 HK$1.1B
FY22 HK$1.3B
FY23 HK$552M
FY24 HK$573M
FY25 HK$171M

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Cite: Fair Value Calculator (2026). "CITIC Resources Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1205

Peer Group

Other Industrial Metals & Mining · 478 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 55 · Top 25%
Fair Value upside +60% · Top 25%
Return on equity (TTM) 2% · Above median
Return on assets 1% · Above median
Net margin (TTM) 1% · Above median
Operating margin (TTM) 1% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 5.4% · Top 25%
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper

P/E (TTM) 24.5× · Pricier than median
P/B 0.43× · Cheaper than 75% of peers
P/S (TTM) 0.25× · Cheaper than 75% of peers
P/FCF 1.3× · Cheaper than 75% of peers
EV/EBITDA 2.7× · Cheaper than 75% of peers
PEG 0.21× · 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 100 · sector 0
FUTURE 3 · sector 24
PAST 9 · sector 0
HEALTH 90 · sector 96
DIVIDEND 100 · sector 38

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 Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
BHP Group BHPN 1,425 MXN 745.46 MXN -48%
Rio Tinto Group RIO A$179.43 A$81.76 -54%
Grupo México, S.A. GMEXICOB 222.38 MXN 172.99 MXN -22%
Vale S.A VALEN 250.00 MXN 139.41 MXN -44%
Saudi Arabian Mining Company 1211 58.05 SAR 33.87 SAR -42%
CMOC Group 603993 ¥19.00 ¥19.80 +4%
China Tungsten And Hightech Materials Co 000657 ¥70.43 ¥9.55 -86%
Hindustan Zinc Limited HINDZINC ₹584.60 ₹501.98 -14%
China Northern Rare Earth (Group) High-Tech Co 600111 ¥41.02 ¥10.59 -74%
Boliden AB BOL kr 527.80 kr 461.48 -13%

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Frequently asked questions

Is CITIC Resources Holdings (1205) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.7840 versus a price of HK$0.4900, about +60% (undervalued).
What is the fair value of 1205?
Our model-based fair value for CITIC Resources Holdings is HK$0.7840 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.4900.
What is the quality score of 1205?
CITIC Resources Holdings has a Quality Score of 55/100. 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 CITIC Resources Holdings (1205)?
CITIC Resources Holdings reported trailing-twelve-month revenue of about HK$15.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1205?
The net profit margin of CITIC Resources Holdings is about 1.1%, meaning it keeps roughly 1.1% 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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