China Intl Capital Corp Ltd (3908) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of China Intl Capital Corp Ltd HK$39.70, price HK$19.56, upside +103.0%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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China Intl Capital Corp Ltd
3908 · HKClearly undervaluedStrong Fair Value upside, but quality is only moderate.
What runs behind every stock
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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$7.64 – HK$23.72 · fair‑value band HK$8.16 – HK$55.71 · the HK$19.56 price screens below the HK$39.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Company profile
China International Capital Corporation Limited provides financial services in Mainland China and internationally. It operates in six segments: Investment Banking; Equities; Fixed Income, Commodities, and Currencies (FICC); Asset Management; Private Equity; and Wealth Management.
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China International Capital Corporation Limited provides financial services in Mainland China and internationally. It operates in six segments: Investment Banking; Equities; Fixed Income, Commodities, and Currencies (FICC); Asset Management; Private Equity; and Wealth Management. The Investment Banking segment provides investment banking services, including equity and debt financing, and asset securitization services; sponsorship and underwriting of listings and refinancings; underwriting of domestic and overseas fixed income financing instruments; and financial advisory services for transactions, such as corporate mergers and acquisitions, debt restructurings, and private financing. Its Equity segment offers investment research, sales, and trading; product structuring and cross-border services; and institutional trading and capital services, such as primary brokerage, over-the-counter derivatives, capital introduction, and market-making transactions to professional investors. The FICC segment provides sales, trading, research, advisory, fixed-income structuring, commodity and foreign exchange securities, and derivatives services in interest rate, credit, structured, foreign exchange, and commodity business. Its Asset Management segment engages in social security and annuity plans, institutional entrusted investment management, offshore asset management, retail and mutual fund products and services to investors. The Private Equity segment provides corporate equity investment funds, funds of funds, dollar funds, real asset funds, and infrastructure funds. Its Wealth Management segment offers trading and capital services, such as margin financing, securities lending and stock-pledged repo, and product allocation services. China International Capital Corporation Limited was incorporated in 1995 and is headquartered in Beijing, the People's Republic of China.
Stock analysis
China Intl Capital Corp Ltd (3908) currently trades at HK$19.56, while our model-based Fair Value estimate is HK$39.70, implying the stock looks roughly 50.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$144.18 per share, and 9 of the 12 models we run sit above the HK$19.56 price.
Bear case: the Asset-Based group reads lowest at HK$16.24, and 3 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: HK$8.16 (bear) to HK$55.71 (bull), the price of HK$19.56 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 61/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
China Intl Capital Corp Ltd reported revenue of 47.9B CNY in FY2025 versus 41.5B CNY in FY2021, a compound +3.7%/yr. Reported net income was 9.5B CNY in FY2025, compounding −3.0%/yr from FY2021.
Key figures
Market cap HK$94.4B (≈ $12.0B) · P/E ratio 9.9 · P/S ratio 1.97 · EPS (TTM) HK$2.19 · Dividend yield 1.0% · Net margin 19.9% · Return on equity 8.9% · Return on assets (EBIT) 1.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −18% fair-value upside, at 103%, 3908 screens cheaper than that median.
Fair Value models
All 12 models by family
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Set up alert →Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 41
Revenue & earnings trend
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Compare China Intl Capital Corp Ltd with another stock
Price, fair value, quality and upside side by side.
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.Capital Markets · 464 stocks
Valuation Multiplesvs Capital Markets median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Hong Kong Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $196.31 | $314.07 | +60% |
| The Goldman Sachs Group GS | $935.45 | $766.86 | −18% |
| The Charles Schwab Corporation SCHW | $99.03 | $118.07 | +19% |
| Interactive Brokers Group IBKR | $89.24 | $23.12 | −74% |
| Robinhood Markets, Inc HOOD | $116.22 | $47.77 | −59% |
| Macquarie Group MQG | A$239.53 | A$80.51 | −66% |
| CITIC Securities Company 600030 | ¥26.29 | ¥18.35 | −30% |
| Guotai Haitong Securities Co 601211 | ¥17.21 | ¥19.35 | +12% |
| East Money Information Co 300059 | ¥18.28 | ¥4.94 | −73% |
| Nomura Holdings NMR | $9.91 | $10.19 | +3% |
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Key figures of China Intl Capital Corp Ltd
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