Shanghai Pudong Development Bank Co Ltd (600000) fair value: what the stock is really worth
We calculate from audited financials what Shanghai Pudong Development Bank Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
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SPShanghai Pudong Development Bank Co Ltd600000 · SHG
Price¥9.35
Fair Value¥18.36
Upside+96.4%
Quality61/100
A solid business, trading 49% below our fair value of ¥18.36.
As of Aug 13, 2026, the fair value of Shanghai Pudong Development Bank Co Ltd is ¥18.36 per share against a price of ¥9.35, so the fair value sits 96% above the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y −13.2 %/yr)
✓Highly profitable · 46.1% net margin
✓Moderate debt · generates free cash flow
·4.49% dividend yield
✓Ranks above peers (11/15)
!Moderate moat 55/100
!Weak on future: 13 out of 100
!Weak on past: 25 out of 100
Evidence: HighRange ¥13.77 to ¥22.95
Fair value as of: Aug 13, 2026
From 6 valuation models · updated 28 days ago
Fair value updated Aug 13, 2026, revised from ¥18.12 to ¥18.36 (+1.3%) since Jul 12, 2026. Share price +1.5% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
The price is below even our cautious bear case (¥13.77). The market is more pessimistic than our downside scenario.
Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
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 ¥6.35 – ¥14.60 · fair‑value band ¥13.77 – ¥22.95 · the ¥9.35 price screens below the ¥18.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Shanghai Pudong Development Bank Co Ltd (600000) currently trades at ¥9.35, while our model-based Fair Value estimate is ¥18.36, implying the stock looks roughly 49.1% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Financial Services sector. Bull case: the Dividend Discount group reads highest at a median of ¥23.44 per share, and 6 of the 6 models we run sit above the ¥9.35 price. Bear case: the Asset-Based group reads lowest at ¥16.43, and 0 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Shanghai Pudong Development Bank Co Ltd generated revenue of 109B CNY at a net margin of 46.1%. Revenue grew 2.6% year over year. It earns a return on equity of 6.4%. Net debt stands at 399B CNY. Fundamentals as of Aug 13, 2026
Scenario range: ¥13.77 (bear) to ¥22.95 (bull), the price of ¥9.35 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 37% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −13% fair-value upside, at 96%, 600000 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥0.6959 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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 best evidence¥19.91¥20.88¥21.7874
DDM Multi-Stage¥13.11¥23.44¥29.8264
Gordon GGM¥13.11¥28.61¥48.1463
All 6 models by family
Dividend Discount
Gordon GGM¥13.11¥28.61¥48.1463
DDM Multi-Stage¥13.11¥23.44¥29.8264
Multiples
P/E Multiple¥14.64¥19.52¥24.4063
P/B Multiple¥19.15¥25.53¥31.9155
Asset-Based
NCAV (Graham)¥12.26¥16.43¥24.5354
Economic Profit
Residual Income best evidence¥19.91¥20.88¥21.7874
Widest divergence: Dividend Discount (¥23.44) versus Asset-Based (¥16.43). Highest evidence: Residual Income (74).
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Key figures & financial health
P/E ratio6.6
P/S ratio1.90P/E × margin
EPS (TTM)¥1.42price ÷ EPS = P/E 6.6
Dividend yield4.5%payout 29.6%
Net margin28.8%FY2025
Return on equity6.4%TTM
More key figures
Profitability
Return on assets (EBIT)0.6%avg 5y
Operating margin65.3%TTM
Growth
Revenue (TTM)109B CNYTTM
Revenue growth (YoY)+2.6%3y avg −21.1%
Balance sheet & cash flow
Free cash flow355B CNYFY2025
Net debt399B CNYFY2025 · ≈ 1.1 yrs of FCF
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality61/100
Of which business quality 62
· Market factors (momentum, volatility) 41
Profitability32
Margins and returns on capital today
Quality Growth58
Are margins and returns improving?
Cashflow100
Earnings quality: real cash, not paper profit
Fin. Strength36
Balance sheet, leverage, solvency risk
Investment64
Disciplined investing over empire-building
Low Volatility91
Calm price path (market factor)
Momentum28
Price trend over the last 3–12 months (market factor)
52W Momentum7
Distance to the 52-week high (market factor)
Net Issuance90
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Shanghai Pudong Development Bank Co., Ltd., together with its subsidiaries, provides commercial banking products and services in China and internationally.
Full company description
Shanghai Pudong Development Bank Co., Ltd., together with its subsidiaries, provides commercial banking products and services in China and internationally. It offers personal banking services, including saving products, premium weekly deposit, and private deposit; leisure banking and oriental debit cards, foreign currency exchange, remittance, and bill payment; wealth management services, such as open-ended funds, special investments, SPDB structured deposits, security investment custody accounts, individual FX trading, collective security investments, and insurance products distribution; deposit treasury bond pledged loans and car mortgages; online payment and consumption; and instant messaging services. The company also provides corporate and investment banking services comprising small and medium enterprises services, offshore banking, and multinational company services; and cash management, trade and supply chain finance solutions, assets custody, and occupational pension. In addition, it offers treasury and market products, which include FX and interest rate risk management; CNY bond and foreign currency securities; gold commodity; and structured products, such as RMB structured, premium, callable interest rate step up, callable fixed interest rate, callable reverse floating rate, callable interest rate linked daily range accrual, and gold price linked daily range accrual deposits, as well as other structured products. The company was founded in 1992 and is headquartered in Shanghai, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Shanghai Pudong Development Bank Co Ltd reported revenue of 174B CNY in FY2025 versus 355B CNY in FY2021, a compound −16.4%/yr. Reported net income was 50.0B CNY in FY2025, compounding −1.4%/yr from FY2021.
Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
174B CNY
Latest YoY
−49.5%
Avg. revenue 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.
−21.1%
Avg. revenue 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.
−13.2%
Avg. revenue growth/yr (29Y) ⓘ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.
+13.7%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+1.1%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−3.4%
Dividend yield4.5%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −3.4% vs 10Y −2.1%, steady
Operating margin (EBIT) ⓘ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.20.4% (2019) → 14.1% (2024) · falling
Worst earnings drop31% (2023) · in CNY
Revenue−16.4%/yr
FY21355B CNY
FY22354B CNY
FY23352B CNY
FY24344B CNY
FY25174B CNY
Net income−1.4%/yr
FY2153.0B CNY
FY2251.2B CNY
FY2336.7B CNY
FY2445.3B CNY
FY2550.0B CNY
Character of growth · EPS growth decomposed (2013-2024)−3.0 % p.a.
Revenue per share+2.0 %
of which total revenue +4.8 % · buybacks/dilution −2.6 %
EBIT margin−7.0 %
Tax rate+2.2 %
Residual (interest, one-offs)−0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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.
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.
This stockSector peers
VALUE100· sector 33
FUTURE13· sector 44
PAST25· sector 41
HEALTH48· sector 85
DIVIDEND90· sector 51
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
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Is Shanghai Pudong Development Bank Co Ltd (600000) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥18.36 versus a price of ¥9.35, about +96% upside (undervalued).
What is the fair value of 600000?
Our model-based fair value for Shanghai Pudong Development Bank Co Ltd is ¥18.36 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥9.35.
What is the quality score of 600000?
Shanghai Pudong Development Bank Co Ltd has a Quality Score of 61/100. 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 Shanghai Pudong Development Bank Co Ltd (600000)?
Our model-based price target is the fair value of ¥18.36 (as of Aug 13, 2026) from 6 valuation models. Cautious scenario ¥13.77, optimistic scenario ¥22.95. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai Pudong Development Bank Co Ltd stock forecast for 2026?
Our models put fair value at ¥18.36, about +96% upside versus a price of ¥9.35 (undervalued). Cautious scenario ¥13.77, optimistic scenario ¥22.95. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai Pudong Development Bank Co Ltd (600000)?
Shanghai Pudong Development Bank Co Ltd reported trailing-twelve-month revenue of about 109B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 600000?
The net profit margin of Shanghai Pudong Development Bank Co Ltd is about 46.1%, meaning it keeps roughly 46.1% of revenue as net income. Based on the latest reported figures.
Does Shanghai Pudong Development Bank Co Ltd pay a dividend?
Shanghai Pudong Development Bank Co Ltd currently shows a dividend yield of about 4.49% relative to its recent price (as of Aug 13, 2026).
What is the intrinsic value of Shanghai Pudong Development Bank Co Ltd (600000)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai Pudong Development Bank Co Ltd it is ¥18.36 per share (as of Aug 13, 2026), against a price of ¥9.35. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Shanghai Pudong Development Bank Co Ltd stock overvalued or undervalued in 2026?
As of Aug 13, 2026, 600000 trades below its calculated fair value: price ¥9.35, fair value ¥18.36, a gap of about +96% (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 600000?
No. The price is what the market pays today (¥9.35); the fair value is what the company's own numbers justify (¥18.36). For Shanghai Pudong Development Bank Co Ltd the two are ¥9.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai Pudong Development Bank Co Ltd worth?
The market values Shanghai Pudong Development Bank Co Ltd at about 311B CNY (market capitalisation, as of Aug 13, 2026). Per share that is ¥9.35; our models calculate a fair value of ¥18.36 per share.
What do the bullish and bearish scenarios say about 600000?
Our models span a range for Shanghai Pudong Development Bank Co Ltd: cautious scenario ¥13.77, base ¥18.36, optimistic ¥22.95 per share (as of Aug 13, 2026, price ¥9.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600000?
Shanghai Pudong Development Bank Co Ltd trades at a price-to-earnings ratio of 6.6 (as of Aug 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥18.36 is built from several models across several years. Other multiples: PEG 0.6, P/B 0.4, P/S 2.8, EV/EBITDA 0.8.
What is the PEG ratio of 600000?
The PEG ratio of Shanghai Pudong Development Bank Co Ltd is 0.56 (P/E divided by earnings growth, as of Aug 13, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Shanghai Pudong Development Bank Co Ltd (600000)?
Balance-sheet figures for Shanghai Pudong Development Bank Co Ltd (as of Aug 13, 2026): return on equity 6.4%, debt of 1.03 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 600000 from its 52-week high?
Shanghai Pudong Development Bank Co Ltd trades at ¥9.35, about 37% below its 52-week high of ¥14.80 and 7% above the low of ¥8.75 (as of Aug 13, 2026). Distance from the high says nothing about value: that is what the fair value of ¥18.36 is for.
Which stocks are comparable to Shanghai Pudong Development Bank Co Ltd?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Shanghai Pudong Development Bank Co Ltd stock attractive at the current price?
The data as of Aug 13, 2026: price ¥9.35, calculated fair value ¥18.36 (+96%), Quality Score 61/100, from 6 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 600000 calculated?
We run Shanghai Pudong Development Bank Co Ltd through 6 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 ¥18.36, 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 32.6 % above its aggregate fair value. Shanghai Pudong Development Bank Co Ltd currently trades 96 % 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 <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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