Minmetals Capital Company (600390) Fair Value & Analysis
Financial Services · CN · Market cap 22.0B CNY
Fair value as of: Aug 9, 2026
From 2 valuation models · updated yesterday
Share price +4.3% over the past month.
Below-average quality, and screening another 66% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥2.06). The favourable scenario is already priced in.
- Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
- 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 9, 2026.
How to read this chart
60‑month range ¥3.95 – ¥8.90 · fair‑value band ¥1.23 – ¥2.06 · the ¥4.89 price screens above the ¥1.65 fair value. Dashed = 300-day average. As of Aug 9, 2026.
Analysis
Minmetals Capital Company (600390) currently trades at ¥4.89, while our model-based Fair Value estimate is ¥1.65, implying the stock looks roughly 66.3% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Minmetals Capital Company generated revenue of 5.5B CNY at a net margin of 9.6%. Revenue declined 4.1% year over year. It earns a return on equity of 1.3%. Net debt stands at 38.7B CNY. Fundamentals as of Aug 9, 2026
Our scenario range runs from ¥1.23 (bear case) to ¥2.06 (bull case); at ¥4.89, the current price sits above 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 29% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -15% fair-value upside, at -66%, 600390 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.
All 2 models by family
Widest divergence: Multiples (¥7.95) versus Asset-Based (¥6.26). Highest evidence: P/B Multiple (55).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 38
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
Minmetals Capital Company Limited engages in the investment, trust, finance leasing, securities, futures, and banking businesses in China. It is involved in risk management and brokerage businesses. The company was formerly known as Kingray New Materials Science & Technology Co., Ltd and changed its name to Minmetals Capital Company Limited in March 2017.
Full company description
Minmetals Capital Company Limited engages in the investment, trust, finance leasing, securities, futures, and banking businesses in China. It is involved in risk management and brokerage businesses. The company was formerly known as Kingray New Materials Science & Technology Co., Ltd and changed its name to Minmetals Capital Company Limited in March 2017. Minmetals Capital Company Limited was incorporated in 1999 and is based in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Minmetals Capital Company reported revenue of ¥6.9B in FY2025 versus ¥13.0B in FY2021, a compound −14.6%/yr. Reported net income was ¥436M in FY2025, compounding −40.2%/yr from FY2021.
600390 screens 66% overvalued. Compare with ORIX Corporation →
Peer Group
Financial Conglomerates · 56 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.
Valuation Multiples vs Financial Conglomerates median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Financial Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ORIX Corporation IX | $40.31 | $35.05 | -13% |
| Bajaj Finserv Ltd BAJAJFINSV | ₹2,065 | ₹682.29 | -67% |
| Yuanta Financial Holding 2885 | 66.70 TWD | 35.75 TWD | -46% |
| China Galaxy Securities Co 601881 | ¥12.94 | ¥18.92 | +46% |
| Guosen Securities Co 002736 | ¥10.34 | ¥17.96 | +74% |
| CNPC Capital Company 000617 | ¥6.80 | ¥5.78 | -15% |
| Aditya Birla Capital Limited ABCAPITAL | ₹399.25 | ₹176.15 | -56% |
| Freedom Holding FRHC | $152.69 | $32.75 | -79% |
| Voya Financial, Inc VOYA | $98.49 | $76.48 | -22% |
| Guangzhou Yuexiu Capital Holdings 000987 | ¥7.77 | ¥9.27 | +19% |
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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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