China Gas Industry Investment Holdings Co. Ltd (1940) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of China Gas Industry Investment Holdings Co. Ltd HK$1.45, price HK$1.25, upside +16.2%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$0.3050 – HK$3.82 · fair‑value band HK$1.01 – HK$1.98 · the HK$1.25 price screens below the HK$1.45 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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China Gas Industry Investment Holdings Co. Ltd., an investment holding company, produces and supplies industrial gases in the People's Republic of China. It operates through three segments: Supply of Industrial Gas; LNG and Gas Transmission Services; and Technical Support and Management Service.
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China Gas Industry Investment Holdings Co. Ltd., an investment holding company, produces and supplies industrial gases in the People's Republic of China. It operates through three segments: Supply of Industrial Gas; LNG and Gas Transmission Services; and Technical Support and Management Service. The company is involved in supply of industrial gas products, including oxygen, nitrogen, argon, hydrogen, and carbon dioxide for use in the production of iron and steel. It also engages in the supply of pipeline industrial gas and LNG; provision of technical support and management services; and the supply of LNG and provision of gas transmission services. In addition, the company operates an automobile LNG filling station. China Gas Industry Investment Holdings Co., Ltd. was founded in 2004 and is headquartered in Tangshan, the People's Republic of China.
Stock analysis
China Gas Industry Investment Holdings Co. Ltd (1940) currently trades at HK$1.25, while our model-based Fair Value estimate is HK$1.45, implying the stock looks roughly 14.0% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of HK$2.67 per share, and 21 of the 23 models we run sit above the HK$1.25 price.
Bear case: the Asset-Based group reads lowest at HK$1.17, and 2 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$1.01 (bear) to HK$1.98 (bull), the price of HK$1.25 sits inside 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 63/100 (solid quality), in the Utilities sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
China Gas Industry Investment Holdings Co. Ltd reported revenue of 1.5B CNY in FY2025 versus 1.2B CNY in FY2021, a compound +5.3%/yr. Reported net income was 152M CNY in FY2025.
Key figures
Market cap HK$1.5B (≈ $190M) · P/E ratio 6.6 · P/S ratio 0.67 · EPS (TTM) HK$0.0600 · Net margin 10.2% · Return on equity 9.1% · Return on assets (EBIT) 6.6% · Operating margin 18.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).
What moves the price
The share trades about 29% below its 52-week high and 95% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at 2% fair-value upside, at 16%, 1940 screens cheaper than that median.
Fair Value models
Bear HK$1.01Fair Value HK$1.45Bull HK$1.98
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0450 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.Evidence ⓘEvidence = 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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
+2.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.6%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.2% → 16%
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+8.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +6.5% a year for the price.
Compare China Gas Industry Investment Holdings Co. Ltd with another stock
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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.Utilities - Regulated Gas · 103 stocks
Beats the industry median on 13/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+16.2% · Above median
Profitability
Return on equity (TTM)9.1% · Above median
Return on assets6.7% · Top 25%
Net margin (TTM)10.2% · Above median
Operating margin (TTM)18.7% · Top 25%
Growth and dividend
Revenue growth22.9% · Top 25%
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
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). "China Gas Industry Investment Holdings Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1940
Frequently asked questions
Is China Gas Industry Investment Holdings Co. Ltd (1940) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$1.45 versus a price of HK$1.25, about +16% upside (undervalued).
What is the fair value of 1940?
Our model-based fair value for China Gas Industry Investment Holdings Co. Ltd is HK$1.45 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$1.25.
What is the quality score of 1940?
China Gas Industry Investment Holdings Co. Ltd 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 price target for China Gas Industry Investment Holdings Co. Ltd (1940)?
Our model-based price target is the fair value of HK$1.45 (as of Sep 27, 2026) from 23 valuation models. Cautious scenario HK$1.01, optimistic scenario HK$1.98. It is a calculation from audited fundamentals, not an analyst target.
What is the China Gas Industry Investment Holdings Co. Ltd stock forecast for 2026?
Our models put fair value at HK$1.45, about +16% upside versus a price of HK$1.25 (undervalued). Cautious scenario HK$1.01, optimistic scenario HK$1.98. The calculation is refreshed regularly with new filings.
What is the revenue of China Gas Industry Investment Holdings Co. Ltd (1940)?
China Gas Industry Investment Holdings Co. Ltd reported trailing-twelve-month revenue of about 1.5B CNY (latest available figure, as of Sep 27, 2026).
What growth is priced into China Gas Industry Investment Holdings Co. Ltd (1940)?
For today's price to be fair in a discounted-cash-flow model, China Gas Industry Investment Holdings Co. Ltd would have to grow free cash flow by +8.3 % per year for five years (discount rate 15.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.7 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 1940 use?
Our models discount China Gas Industry Investment Holdings Co. Ltd at 15.6 %: a base by market capitalisation (micro), damped by beta 1.69, country premium for Hong Kong. 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 China Gas Industry Investment Holdings Co. Ltd that is +8.3 % per year a year over ten years, using the same discount rate (15.6 %) and the same formula as our fair value.
How much growth has China Gas Industry Investment Holdings Co. Ltd (1940) delivered so far?
Over the past 5 years revenue at China Gas Industry Investment Holdings Co. Ltd grew +4.7 % a year. The price currently implies +8.3 % per year free-cash-flow growth a 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 China Gas Industry Investment Holdings Co. Ltd (1940) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into China Gas Industry Investment Holdings Co. Ltd (+8.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of China Gas Industry Investment Holdings Co. Ltd (1940)?
The free-cash-flow yield on the price is 10.14 %: that much free cash flow China Gas Industry Investment Holdings Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (15.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of China Gas Industry Investment Holdings Co. Ltd (1940)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Gas Industry Investment Holdings Co. Ltd it is HK$1.45 per share (as of Sep 27, 2026), against a price of HK$1.25. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is China Gas Industry Investment Holdings Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 1940 trades below its calculated fair value: price HK$1.25, fair value HK$1.45, a gap of about +16% (undervalued). 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 1940?
No. The price is what the market pays today (HK$1.25); the fair value is what the company's own numbers justify (HK$1.45). For China Gas Industry Investment Holdings Co. Ltd the two are HK$0.2020 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Gas Industry Investment Holdings Co. Ltd worth?
The market values China Gas Industry Investment Holdings Co. Ltd at about HK$1.5B (market capitalisation, as of Sep 27, 2026). Per share that is HK$1.25; our models calculate a fair value of HK$1.45 per share.
What do the bullish and bearish scenarios say about 1940?
Our models span a range for China Gas Industry Investment Holdings Co. Ltd: cautious scenario HK$1.01, base HK$1.45, optimistic HK$1.98 per share (as of Sep 27, 2026, price HK$1.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1940?
China Gas Industry Investment Holdings Co. Ltd trades at a price-to-earnings ratio of 6.6 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$1.45 is built from several models across several years. Other multiples: P/B 0.7, P/S 0.8, EV/EBITDA 3.4.
How solid is the balance sheet of China Gas Industry Investment Holdings Co. Ltd (1940)?
Balance-sheet figures for China Gas Industry Investment Holdings Co. Ltd (as of Sep 27, 2026): return on equity 9.1%, debt of 0.09 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 1940 from its 52-week high?
China Gas Industry Investment Holdings Co. Ltd trades at HK$1.25, about 29% below its 52-week high of HK$1.75 and 95% above the low of HK$0.6400 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$1.45 is for.
Which stocks are comparable to China Gas Industry Investment Holdings Co. Ltd?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, Uniper SE, NiSource Inc, 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 China Gas Industry Investment Holdings Co. Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$1.25, calculated fair value HK$1.45 (+16%), Quality Score 63/100, from 23 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 1940 calculated?
We run China Gas Industry Investment Holdings Co. Ltd through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$1.45, 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 14.7 % above its aggregate fair value. China Gas Industry Investment Holdings Co. Ltd currently trades 14 % below its own fair value, and the market average says nothing about that. 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 China Gas Industry Investment Holdings Co. Ltd (1940)?
The closing price on Sep 30, 2026 was HK$1.25. Our model-based fair value is HK$1.45, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Gas Industry Investment Holdings Co. Ltd right now?
A fairly wide model range (HK$1.01 to HK$1.98) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of China Gas Industry Investment Holdings Co. Ltd
How large is the market capitalisation of China Gas Industry Investment Holdings Co. Ltd (1940)?
The market capitalisation of China Gas Industry Investment Holdings Co. Ltd is HK$1.5B (≈ $190M). 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 China Gas Industry Investment Holdings Co. Ltd (1940)?
The price-to-sales ratio of China Gas Industry Investment Holdings Co. Ltd is 0.67 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of China Gas Industry Investment Holdings Co. Ltd (1940)?
Earnings per share at China Gas Industry Investment Holdings Co. Ltd are HK$0.0600 (price ÷ EPS = P/E 6.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of China Gas Industry Investment Holdings Co. Ltd (1940)?
The net margin of China Gas Industry Investment Holdings Co. Ltd is 10.2% (fiscal year 2025). 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 China Gas Industry Investment Holdings Co. Ltd (1940)?
The return on equity (ROE) of China Gas Industry Investment Holdings Co. Ltd is 9.1% (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 China Gas Industry Investment Holdings Co. Ltd (1940)?
On an EBIT basis the return on assets of China Gas Industry Investment Holdings Co. Ltd is 6.6% (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 China Gas Industry Investment Holdings Co. Ltd (1940)?
The operating margin of China Gas Industry Investment Holdings Co. Ltd is 18.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Gas Industry Investment Holdings Co. Ltd (1940)?
Revenue at China Gas Industry Investment Holdings Co. Ltd is growing +22.9% versus a year earlier (3y avg +0.2%). 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 China Gas Industry Investment Holdings Co. Ltd (1940)?
Earnings per share at China Gas Industry Investment Holdings Co. Ltd are growing +4.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does China Gas Industry Investment Holdings Co. Ltd (1940) carry?
The net debt of China Gas Industry Investment Holdings Co. Ltd is 127M CNY (fiscal year 2025, ≈ 1.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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