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Bank of Gansu Co Ltd (2139) Fair Value & Analysis

Financial Services · HK · Market cap HK$5.3B

BO Bank of Gansu Co Ltd 2139 · HK
PriceHK$0.2360
Fair ValueHK$0.4050
Upside+71.6%
Quality40/100
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Expensive Growth
Highly profitable · 21.1% net margin
Moderate debt · negative free cash flow
Trails peers (4/12)
Narrow moat 37/100
Evidence: High Range HK$0.3000 – HK$0.5000 Share as image

Fair value as of: Aug 13, 2026

From 4 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$0.5700 to HK$0.4050 (−28.9%) since Jul 7, 2026. Share price −0.4% over the past month.

Below-average quality, screening 72% undervalued on our models.

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What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (HK$0.3000). The market is more pessimistic than our downside scenario.
  • 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$1.50 HK$0.2160 Fair Value HK$0.4050 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$0.2160 – HK$1.50 · fair‑value band HK$0.3000 – HK$0.5000 · the HK$0.2360 price screens below the HK$0.4050 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Bank of Gansu Co Ltd (2139) currently trades at HK$0.2360, while our model-based Fair Value estimate is HK$0.4050, implying the stock looks roughly 71.6% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Financial Services 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, Bank of Gansu Co Ltd generated revenue of HK$2.8B at a net margin of 21.1%. Revenue declined 3.3% year over year. It earns a return on equity of 1.7%. Net debt stands at HK$36.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.3000 (bear case) to HK$0.5000 (bull case); at HK$0.2360, 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 44% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 47% fair-value upside, at 72%, 2139 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
Residual Income HK$1.03 HK$0.9500 HK$0.7100 76
P/E Multiple HK$0.2500 HK$0.3300 HK$0.4100 63
P/B Multiple HK$0.3200 HK$0.4300 HK$0.5400 55
All 4 models by family
Multiples
P/E Multiple HK$0.2500 HK$0.3300 HK$0.4100 63
P/B Multiple HK$0.3200 HK$0.4300 HK$0.5400 55
Asset-Based
NCAV (Graham) HK$0.7600 HK$1.02 HK$1.51 50
Economic Profit
Residual Income HK$1.03 HK$0.9500 HK$0.7100 76

Widest divergence: Asset-Based (HK$1.02) versus Multiples (HK$0.3300). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$2.8B
Revenue growth (YoY) -3.3%
Net margin 21.1%
Return on equity 1.7%
Free cash flow −HK$4.8B FY2025
P/E ratio 8.9 as of Jul 2, 2026
More key figures
Operating margin 7.1%
EPS (TTM) HK$0.0300
EPS growth (YoY) +0.7%
Net debt HK$36.4B FY2025

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

Quality Score breakdown

Overall quality 40/100

Of which business quality 36 · Market factors (momentum, volatility) 26

Profitability 14
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 7
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

Bank of Gansu Co., Ltd., together with its subsidiary, provides banking and related financial services in the People's Republic of China. It operates in three segments: Corporate Banking, Retail Banking, and Financial Market Operations.

Full company description

Bank of Gansu Co., Ltd., together with its subsidiary, provides banking and related financial services in the People's Republic of China. It operates in three segments: Corporate Banking, Retail Banking, and Financial Market Operations. The company offers corporate loans and advances, deposits, agency, consulting and advisory, remittance and settlement, and guarantee services to corporations and government agencies; and personal loans and deposits, bank card business, personal wealth management, and remittance services to retail customers. It is also involved in the inter-bank money market transactions, repurchases transactions, and investments; and trades in debt securities, as well as issues debts. Bank of Gansu Co., Ltd. was founded in 2011 and is headquartered in Lanzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bank of Gansu Co Ltd reported revenue of HK$12.2B in FY2025 versus HK$2.8B in FY2021, a compound +44.2%/yr. Reported net income was HK$573M in FY2025, compounding +0.1%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$12.2B
Latest YoY
+328.4%
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.
+62.1%
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.
+34.9%
Avg. growth/yr (13Y) 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.
+23.3%
Revenue +44.2%/yr
FY21 HK$2.8B
FY22 HK$2.9B
FY23 HK$3.0B
FY24 HK$2.9B
FY25 HK$12.2B
Net income +0.1%/yr
FY21 HK$571M
FY22 HK$601M
FY23 HK$645M
FY24 HK$582M
FY25 HK$573M

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Cite: Fair Value Calculator (2026). "Bank of Gansu Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2139

Peer Group

Banks - Regional · 1088 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 41 · Bottom 25%
Fair Value upside +74% · Top 25%
Return on equity (TTM) 2% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 21% · Below median
Operating margin (TTM) 7% · Bottom 25%
Revenue growth -3% · Bottom 25%
Debt / equity 1.24× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 8.9× · Cheaper than 75% of peers
P/B 0.16× · Cheaper than 75% of peers
P/S (TTM) 1.92× · Cheaper than 75% of peers
EV/EBITDA 26.0× · Pricier 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 33
FUTURE 0 · sector 44
PAST 7 · sector 41
HEALTH 38 · sector 85
DIVIDEND 0 · sector 56

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 Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,350 IDR 4,637 IDR -27%
KB Financial Group 105560 168,100 KRW 220,258 KRW +31%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 3,110 IDR 3,792 IDR +22%
PT Bank Mandiri (Persero) Tbk BMRI 4,130 IDR 6,067 IDR +47%
Banco Bradesco S.A BBD 5,120 ARS 8,400 ARS +64%
Shinhan Financial Group 055550 103,800 KRW 146,032 KRW +41%
Hana Financial Group 086790 127,900 KRW 210,506 KRW +65%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,500 VND 45,959 VND -23%
Woori Financial Group 316140 33,000 KRW 60,758 KRW +84%

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Frequently asked questions

Is Bank of Gansu Co Ltd (2139) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.4050 versus a price of HK$0.2360, about +72% (undervalued).
What is the fair value of 2139?
Our model-based fair value for Bank of Gansu Co Ltd is HK$0.4050 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.2360.
What is the quality score of 2139?
Bank of Gansu Co Ltd has a Quality Score of 40/100. 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 Bank of Gansu Co Ltd (2139)?
Bank of Gansu Co Ltd reported trailing-twelve-month revenue of about HK$2.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2139?
The net profit margin of Bank of Gansu Co Ltd is about 21.1%, meaning it keeps roughly 21.1% 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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