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Guotai Junan International Holdings (1788) Fair Value & Analysis

Financial Services · HK · Market cap HK$19.3B

GJ Guotai Junan International Holdings 1788 · HK
PriceHK$2.85
Fair ValueHK$2.33
Upside-18.1%
Quality57/100
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Healthy Growth
Highly profitable · 34.0% net margin
Moderate debt · generates free cash flow
3.57% dividend yield
Ranks above peers (9/14)
Wide moat 67/100
Evidence: High Range HK$1.75 – HK$2.91 Share as image

Fair value as of: Aug 5, 2026

From 2 valuation models · updated 5 days ago

Share price +42.3% over the past month.

A solid business, but screening 18% overvalued on our models.

What matters now

  • Solid but not exceptional quality (57/100) 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$6.62 HK$0.4516 Fair Value HK$2.33 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

60‑month range HK$0.4516 – HK$6.62 · fair‑value band HK$1.75 – HK$2.91 · the HK$2.85 price screens above the HK$2.33 fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Guotai Junan International Holdings (1788) currently trades at HK$2.85, while our model-based Fair Value estimate is HK$2.33, implying the stock looks roughly 18.1% overvalued today. The Quality Score stands at 57/100 (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, Guotai Junan International Holdings generated revenue of HK$4.0B at a net margin of 34.0%. Revenue grew 111.7% year over year. It earns a return on equity of 8.7%. Net debt stands at HK$92.9B. Fundamentals as of Aug 5, 2026

Our scenario range runs from HK$1.75 (bear case) to HK$2.91 (bull case); at HK$2.85, 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 59% below its 52-week high and 50% 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 -18%, 1788 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
P/B Multiple HK$1.06 HK$1.41 HK$1.77 55
NCAV (Graham) HK$0.8300 HK$1.11 HK$1.66 50
All 2 models by family
Multiples
P/B Multiple HK$1.06 HK$1.41 HK$1.77 55
Asset-Based
NCAV (Graham) HK$0.8300 HK$1.11 HK$1.66 50

Widest divergence: Multiples (HK$1.41) versus Asset-Based (HK$1.11). Highest evidence: P/B Multiple (55).

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Key figures & financial health

Revenue (TTM) HK$4.0B
Revenue growth (YoY) +112%
Net margin 34.0%
Return on equity 8.7%
Free cash flow HK$2.6B FY2025
P/E ratio 14.4
More key figures
Operating margin 48.5%
EPS (TTM) HK$0.0600
Dividend yield 3.6%
EPS growth (YoY) +434%
Net debt HK$92.9B FY2025

Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 31

Profitability 32
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 99
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 83
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

Guotai Junan International Holdings Limited, an investment holding company, provides brokerage, corporate finance, asset management, loans and financing, financial products, market making, and investment services in Hong Kong and internationally.

Full company description

Guotai Junan International Holdings Limited, an investment holding company, provides brokerage, corporate finance, asset management, loans and financing, financial products, market making, and investment services in Hong Kong and internationally. It operates through Wealth Management, Institutional Investor Services, Corporate Finance Services, Investment Management, and Other segments. The Wealth Management segment provides various financial services and solutions to individual investors, small to medium-sized businesses, and family office, including brokerage, loans and financing, and other wealth management services. The Institutional Investor Services segment offers market making, investments, structured product solutions, financing and other services to corporations, governments, and financial institutions, as well as group investments to support other services. The Corporate Finance segment provides advisory services, placing and underwriting services of debt and equity securities. The Investment Management segment offers asset and fund management services to institutions and individuals; and invests in funds, debts, and equity securities. The Other segment provides rental income and provision of information channel services. It also provides general administration and support services; securities brokerage and other financial services; securities and futures dealing and broking; consultancy; investments and provision of structured product solutions and other services; leveraged foreign exchange dealing and broking; and margin financing, as well as trades in securities. The company was founded in 1993 and is based in Central, Hong Kong. Guotai Junan International Holdings Limited operates as a subsidiary of Guotai Haitong Financial Holdings Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Guotai Junan International Holdings reported revenue of HK$6.2B in FY2025 versus HK$4.0B in FY2021, a compound +11.8%/yr. Reported net income was HK$1.3B in FY2025, compounding +5.3%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$6.2B
Latest YoY
+186.9%
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.
+38.9%
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.
+5.0%
Avg. growth/yr (18Y) 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.
+10.8%
Revenue +11.8%/yr
FY21 HK$4.0B
FY22 HK$2.3B
FY23 HK$3.2B
FY24 HK$2.2B
FY25 HK$6.2B
Net income +5.3%/yr
FY21 HK$1.1B
FY22 HK$80.4M
FY23 HK$201M
FY24 HK$348M
FY25 HK$1.3B
Character of growth · EPS growth decomposed (2014-2025) −8.3 % p.a.
Revenue per share +3.6 pp

of which total revenue +8.0 pp · buybacks/dilution −4.4 pp

EBIT margin +0.9 pp
Tax rate −0.4 pp
Residual (interest, one-offs) −12.4 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).

1788 screens 18% overvalued. Compare with Huatai Securities Co →

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Cite: Fair Value Calculator (2026). "Guotai Junan International Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1788

Peer Group

Capital Markets · 423 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 59 · Above median
Fair Value upside −18% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 1% · Below median
Net margin (TTM) 34% · Above median
Operating margin (TTM) 49% · Top 25%
Revenue growth 112% · Top 25%
Dividend yield (TTM) 3.6% · Above median
Debt / equity 0.66× · Higher than 75% of peers

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 14.4× · Cheaper than median
P/B 1.21× · Pricier than median
P/S (TTM) 4.86× · Pricier than median
P/FCF 1.0× · Pricier than median
EV/EBITDA 5.3× · Cheaper 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 9 · sector 9
FUTURE 100 · sector 96
PAST 35 · sector 30
HEALTH 67 · sector 93
DIVIDEND 71 · 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 Aug 5, 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 Guotai Junan International Holdings (1788) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of HK$2.33 versus a price of HK$2.85, about −18% (overvalued).
What is the fair value of 1788?
Our model-based fair value for Guotai Junan International Holdings is HK$2.33 (as of Aug 5, 2026), built from audited fundamentals. The current price is HK$2.85.
What is the quality score of 1788?
Guotai Junan International Holdings has a Quality Score of 57/100. 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 Guotai Junan International Holdings (1788)?
Guotai Junan International Holdings reported trailing-twelve-month revenue of about HK$4.0B (latest available figure, as of Aug 5, 2026).
What is the net profit margin of 1788?
The net profit margin of Guotai Junan International Holdings is about 34.0%, meaning it keeps roughly 34.0% of revenue as net income. Based on the latest reported figures.
Does Guotai Junan International Holdings pay a dividend?
Guotai Junan International Holdings currently shows a dividend yield of about 3.57% relative to its recent price (as of Aug 5, 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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