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CITIC Securities Company (600030) Fair Value & Analysis

Financial Services · CN · Market cap 419B CNY

CS CITIC Securities Company 600030 · SHG
Price¥27.92
Fair Value¥30.22
Upside+8.2%
Quality61/100
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Mixed Growth
Highly profitable · 40.8% net margin
Low debt · generates free cash flow
2.46% dividend yield
Ranks above peers (11/14)
Moderate moat 62/100
Evidence: High Range ¥22.67 – ¥37.78 Share as image

Fair value as of: Jul 13, 2026

From 25 valuation models · updated 25 days ago

Fair value updated Jul 13, 2026, revised from ¥36.71 to ¥30.22 (−17.7%) since Jun 26, 2026. Share price −1.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • 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)

¥33.40 ¥15.74 Fair Value ¥30.22 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range ¥15.74 – ¥33.40 · fair‑value band ¥22.67 – ¥37.78 · the ¥27.92 price screens below the ¥30.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

CITIC Securities Company (600030) currently trades at ¥27.92, while our model-based Fair Value estimate is ¥30.22, implying the stock looks roughly 8.2% fairly valued today. We read business quality at 61/100 (solid 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, CITIC Securities Company generated revenue of 82.5B CNY at a net margin of 40.8%. Revenue grew 44.0% year over year. It earns a return on equity of 10.7%. Net debt stands at 564B CNY. Fundamentals as of Jul 13, 2026

Our scenario range runs from ¥22.67 (bear case) to ¥37.78 (bull case); at ¥27.92, 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 13% below its 52-week high and 17% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 8%, 600030 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥121.12 ¥206.03 ¥350.22 80
Residual Income ¥18.99 ¥21.02 ¥33.05 76
ROIC Compounder ¥70.79 ¥74.88 ¥78.51 72
All 25 models by family
DCF Models
FCF DCF ¥123.29 ¥188.71 ¥363.91 38
Owner Earnings ¥79.46 ¥116.07 ¥191.12 31
5Y Revenue Exit ¥75.58 ¥89.24 ¥106.38 39
5Y EBITDA Exit ¥88.16 ¥117.60 ¥155.50 41
5Y P/E Exit ¥90.03 ¥121.80 ¥159.83 38
10Y Revenue Exit ¥89.16 ¥108.98 ¥136.85 36
10Y EBITDA Exit ¥98.38 ¥131.38 ¥184.02 37
10Y P/E Exit ¥99.69 ¥134.70 ¥188.07 35
Earnings-Based
Graham-Dodd ¥13.79 ¥84.14 ¥117.37 54
Lynch FV ¥24.09 ¥34.41 ¥44.73 50
PEG = 1.0 ¥24.09 ¥34.41 ¥44.73 46
EPV ¥70.79 ¥74.88 ¥78.51 59
Dividend Discount
Gordon GGM ¥7.58 ¥16.55 ¥27.85 70
DDM Multi-Stage ¥7.58 ¥13.56 ¥17.25 61
Multiples
P/E Multiple ¥30.41 ¥40.55 ¥50.69 63
P/S Multiple ¥9.47 ¥12.62 ¥15.78 58
P/B Multiple ¥25.85 ¥34.47 ¥43.09 55
EV/EBIT ¥84.20 ¥96.39 ¥108.58 53
EV/EBITDA ¥75.35 ¥84.59 ¥93.83 54
EV/Revenue ¥56.48 ¥60.26 ¥64.05 43
Asset-Based
NCAV (Graham) ¥10.79 ¥14.46 ¥21.59 50
Growth DCF
Growth DCF ¥121.12 ¥206.03 ¥350.22 80
Economic Profit
Residual Income ¥18.99 ¥21.02 ¥33.05 76
ROIC Compounder ¥70.79 ¥74.88 ¥78.51 72
Growth Earnings
Growth-Adj P/E ¥34.00 ¥48.57 ¥63.14 68

Widest divergence: Growth DCF (¥206.03) versus Dividend Discount (¥13.56). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 82.5B CNY
Revenue growth (YoY) +44.0%
Net margin 40.8%
Return on equity 10.7%
Free cash flow 72.6B CNY FY2025
P/E ratio 11.7
More key figures
Operating margin 57.6%
EPS (TTM) ¥2.20
Dividend yield 2.7%
EPS growth (YoY) +55.8%
Net debt 564B CNY FY2024

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 74 · Market factors (momentum, volatility) 56

Profitability 35
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 45
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

CITIC Securities Company Limited, together with its subsidiaries, provides various financial products and services in China and internationally. It operates through five segments: Brokerage, Asset Management, Securities Investment, Securities Underwriting, and Other.

Full company description

CITIC Securities Company Limited, together with its subsidiaries, provides various financial products and services in China and internationally. It operates through five segments: Brokerage, Asset Management, Securities Investment, Securities Underwriting, and Other. The company offers investment banking, including equity, bonds, asset-backed securitization, and merger and acquisition; asset management for active, passive, and cross-border investments, as well as alternative businesses; and equity sales and trading services, such as research, equity project sales, equity product marketing, equity trading, transaction execution, and algo trading services. It also provides margin trading, short selling, securities borrowing and lending, and stock repo and financing; wealth management comprising trade service, investment management, and asset allocation and succession; and FICC business, which includes sales, trading, investment advisory, and structured products and derivatives. In addition, the company offers research services; and custody, fund administration, and interbank market client clearing services. It serves corporate, institutional, and retail clients. The company was incorporated in 1995 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CITIC Securities Company reported revenue of ¥74.8B in FY2025 versus ¥90.8B in FY2021, a compound −4.7%/yr. Reported net income was ¥30.1B in FY2025, compounding +6.8%/yr from FY2021.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
74.8B CNY
Latest YoY
−9.3%
Avg. growth/yr (3Y)
−2.1%
Avg. growth/yr (5Y)
+2.3%
Avg. growth/yr (26Y)
+17.9%
Revenue −4.7%/yr
FY21 ¥90.8B
FY22 ¥79.7B
FY23 ¥77.0B
FY24 ¥82.5B
FY25 ¥74.8B
Net income +6.8%/yr
FY21 ¥23.1B
FY22 ¥21.3B
FY23 ¥19.7B
FY24 ¥21.7B
FY25 ¥30.1B

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Cite: Fair Value Calculator (2026). "CITIC Securities Company Fair Value". https://www.fairvalue-calculator.com/stock/600030

Peer Group

Capital Markets · 424 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 67 · Top 25%
Fair Value upside +8% · Above median
Return on equity (TTM) 11% · Above median
Return on assets 2% · Above median
Net margin (TTM) 41% · Top 25%
Operating margin (TTM) 58% · Top 25%
Revenue growth 44% · Above median
Dividend yield (TTM) 2.5% · Above median
Debt / equity 0.48× · Higher than median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 12.8× · Cheaper than median
P/B 1.31× · Pricier than median
P/S (TTM) 5.07× · Pricier than median
P/FCF 0.9× · Cheaper than median
PEG 0.17× · Cheaper 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 44 · sector 11
FUTURE 100 · sector 91
PAST 43 · sector 31
HEALTH 76 · sector 93
DIVIDEND 49 · sector 37

Insider activity: 35/100

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 Jul 13, 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 CITIC Securities Company (600030) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of ¥30.22 versus a price of ¥27.92, about +8% (fairly valued).
What is the fair value of 600030?
Our model-based fair value for CITIC Securities Company is ¥30.22 (as of Jul 13, 2026), built from audited fundamentals. The current price is ¥27.92.
What is the quality score of 600030?
CITIC Securities Company has a Quality Score of 61/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of CITIC Securities Company (600030)?
CITIC Securities Company reported trailing-twelve-month revenue of about 82.5B CNY (latest available figure, as of Jul 13, 2026).
What is the net profit margin of 600030?
The net profit margin of CITIC Securities Company is about 40.8%, meaning it keeps roughly 40.8% of revenue as net income. Based on the latest reported figures.
Does CITIC Securities Company pay a dividend?
CITIC Securities Company currently shows a dividend yield of about 2.74% relative to its recent price (as of Jul 13, 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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