Yongan Futures Co.Ltd. (600927) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Yongan Futures Co.Ltd. ¥7.76, price ¥12.34, upside -37.1%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 24, 2026.
How to read this chart
57‑month range ¥10.41 – ¥39.52 · fair‑value band ¥5.82 – ¥9.70 · the ¥12.34 price screens above the ¥7.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Yongan Futures Co.,Ltd., together with its subsidiaries, provides futures brokerage business in China and internationally. The company is also involved in asset management, securities, fund sales, financial, and lending business. It also provides risk management, including basis trading, over-the-counter derivatives, and market making business.
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Yongan Futures Co.,Ltd., together with its subsidiaries, provides futures brokerage business in China and internationally. The company is also involved in asset management, securities, fund sales, financial, and lending business. It also provides risk management, including basis trading, over-the-counter derivatives, and market making business. The company was formerly known as Zhejiang Yongan Futures Brokerage Co., Ltd. and changed its name to Yongan Futures Co.,Ltd. in September 2012. Yongan Futures Co.,Ltd. was incorporated in 1992 and is headquartered in Hangzhou, China.
Stock analysis
Yongan Futures Co.Ltd. (600927) currently trades at ¥12.34, while our model-based Fair Value estimate is ¥7.76, implying the stock looks roughly 59.0% overvalued today.
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Valuation
How firm this estimate is: it rests on 15 models at a data quality of 95/100, which puts the evidence level at medium.
Scenario range: ¥5.82 (bear) to ¥9.70 (bull), the price of ¥12.34 sits above 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 49/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Yongan Futures Co.Ltd. reported revenue of 1.8B CNY in FY2025 versus 37.7B CNY in FY2021, a compound −53.4%/yr. Reported net income was 652M CNY in FY2025, compounding −16.0%/yr from FY2021.
Key figures
Market cap 18.0B CNY (≈ $2.7B) · P/E ratio 22.0 · P/S ratio 8.07 · EPS (TTM) ¥0.5600 · Dividend yield 1.1% · Net margin 36.6% · Return on equity 6.2% · Return on assets (EBIT) 1.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 25% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at −37%, 600927 screens richer than that median.
Fair Value models
Bear ¥5.82Fair Value ¥7.76Bull ¥9.70
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.3072 per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.19/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−91.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−63.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−41.2%
Start year 2020 (pandemic). Over 10 years: −8.6% a year
Revenue growth 12 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−11.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.4%
Dividend (yield on the price)1.1%
Pace: 5 vs 10 years ⓘ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.−12% vs 0%, slowing
Profit margin 2019 to 2024 ⓘ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.6% → 3%
Price, fair value, quality and upside side by side.
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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 · 463 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−37% · Below median
Profitability
Return on equity (TTM)6% · Below median
Return on assets1% · Below median
Net margin (TTM)39% · Top 25%
Operating margin (TTM)46% · Above median
Growth and dividend
Revenue growth140% · Top 25%
Dividend yield (TTM)1.1% · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
P/E (TTM)22.0× · Pricier than median
P/B1.35× · Pricier than median
P/S (TTM)8.60× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 32
FUTURE (revenue growth)100· sector 91
PAST (return on equity)25· sector 30
HEALTH (low debt)0· sector 95
DIVIDEND (yield)23· sector 41
VALUE 0: the price sits above our fair-value range.
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.
Is Yongan Futures Co.Ltd. (600927) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥7.76 versus a price of ¥12.34, about −37% upside (overvalued).
What is the fair value of 600927?
Our model-based fair value for Yongan Futures Co.Ltd. is ¥7.76 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥12.34.
What is the quality score of 600927?
Yongan Futures Co.Ltd. has a Quality Score of 49/100. 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 Yongan Futures Co.Ltd. (600927)?
Our model-based price target is the fair value of ¥7.76 (as of Sep 24, 2026) from 2 valuation models. Cautious scenario ¥5.82, optimistic scenario ¥9.70. It is a calculation from audited fundamentals, not an analyst target.
What is the Yongan Futures Co.Ltd. stock forecast for 2026?
Our models put fair value at ¥7.76, about −37% upside versus a price of ¥12.34 (overvalued). Cautious scenario ¥5.82, optimistic scenario ¥9.70. The calculation is refreshed regularly with new filings.
What is the revenue of Yongan Futures Co.Ltd. (600927)?
Yongan Futures Co.Ltd. reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Sep 24, 2026).
Does Yongan Futures Co.Ltd. pay a dividend?
Yongan Futures Co.Ltd. currently shows a dividend yield of about 1.13% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Yongan Futures Co.Ltd. (600927)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yongan Futures Co.Ltd. it is ¥7.76 per share (as of Sep 24, 2026), against a price of ¥12.34. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Yongan Futures Co.Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 600927 trades above its calculated fair value: price ¥12.34, fair value ¥7.76, a gap of about −37% (overvalued). 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 600927?
No. The price is what the market pays today (¥12.34); the fair value is what the company's own numbers justify (¥7.76). For Yongan Futures Co.Ltd. the two are ¥4.58 per share apart. That gap is exactly why we show both numbers side by side.
How much is Yongan Futures Co.Ltd. worth?
The market values Yongan Futures Co.Ltd. at about 18.0B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥12.34; our models calculate a fair value of ¥7.76 per share.
What do the bullish and bearish scenarios say about 600927?
Our models span a range for Yongan Futures Co.Ltd.: cautious scenario ¥5.82, base ¥7.76, optimistic ¥9.70 per share (as of Sep 24, 2026, price ¥12.34). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600927?
Yongan Futures Co.Ltd. trades at a price-to-earnings ratio of 22.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥7.76 is built from several models across several years. Other multiples: P/B 1.4, P/S 8.6.
How solid is the balance sheet of Yongan Futures Co.Ltd. (600927)?
Balance-sheet figures for Yongan Futures Co.Ltd. (as of Sep 24, 2026): return on equity 6.2%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 600927 from its 52-week high?
Yongan Futures Co.Ltd. trades at ¥12.34, about 25% below its 52-week high of ¥16.56 and 3% above the low of ¥12.01 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ¥7.76 is for.
Which stocks are comparable to Yongan Futures Co.Ltd.?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Yongan Futures Co.Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price ¥12.34, calculated fair value ¥7.76 (−37%), Quality Score 49/100, from 2 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 600927 calculated?
We run Yongan Futures Co.Ltd. through 2 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 ¥7.76, 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 14.1 % above its aggregate fair value. Yongan Futures Co.Ltd. itself currently trades above fair value. 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 is it worth investing now.
What is the share price of Yongan Futures Co.Ltd. (600927)?
The closing price on Sep 23, 2026 was ¥12.34. Our model-based fair value is ¥7.76, about −37% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Yongan Futures Co.Ltd. right now?
The price sits above even our optimistic bull case (¥9.70). The favourable scenario is already priced in. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Yongan Futures Co.Ltd. (600927) come from?
Earnings per share at Yongan Futures Co.Ltd. grew +1.7 % a year from 2013 to 2024. Broken into its drivers: revenue per share +22.6 %, EBIT margin −17.7 %, tax rate +0.6 %, residual (interest, one-offs) +0.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Yongan Futures Co.Ltd.
How large is the market capitalisation of Yongan Futures Co.Ltd. (600927)?
The market capitalisation of Yongan Futures Co.Ltd. is 18.0B CNY (≈ $2.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Yongan Futures Co.Ltd. (600927)?
The price-to-sales ratio of Yongan Futures Co.Ltd. is 8.07 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Yongan Futures Co.Ltd. (600927)?
Earnings per share at Yongan Futures Co.Ltd. are ¥0.5600 (price ÷ EPS = P/E 22.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Yongan Futures Co.Ltd. (600927)?
The dividend yield of Yongan Futures Co.Ltd. is 1.1% (payout 25.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Yongan Futures Co.Ltd. (600927)?
The net margin of Yongan Futures Co.Ltd. is 36.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Yongan Futures Co.Ltd. (600927)?
The return on equity (ROE) of Yongan Futures Co.Ltd. is 6.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Yongan Futures Co.Ltd. (600927)?
On an EBIT basis the return on assets of Yongan Futures Co.Ltd. is 1.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Yongan Futures Co.Ltd. (600927)?
The operating margin of Yongan Futures Co.Ltd. is 46.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Yongan Futures Co.Ltd. (600927)?
Revenue at Yongan Futures Co.Ltd. is growing +140% versus a year earlier (3y avg −63.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Yongan Futures Co.Ltd. (600927)?
Earnings per share at Yongan Futures Co.Ltd. are growing +550% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Yongan Futures Co.Ltd. (600927) generate?
The free cash flow of Yongan Futures Co.Ltd. is −5.0B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Yongan Futures Co.Ltd. (600927) hold?
Yongan Futures Co.Ltd. holds more cash than debt, 35.7B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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