Yongan Futures Co.Ltd. (600927) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Yongan Futures Co.Ltd. stock ¥6.80, price ¥13.02, that is 47.8% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
58‑month range ¥10.39 – ¥39.45 · fair‑value band ¥6.80 – ¥9.13 · the ¥13.02 price screens above the ¥6.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
Follow Yongan Futures Co.Ltd. in your weekly email
Every Wednesday you see whether Yongan Futures Co.Ltd. is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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.
Show moreShow less
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 ¥13.02, while our model-based Fair Value estimate is ¥6.80, 48% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of ¥9.32 per share, and 0 of the 6 models we run sit above the ¥13.02 price.
Bear case: the Dividend Discount group reads lowest at ¥1.60, and 6 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥6.80 (bear) to ¥9.13 (bull), the price of ¥13.02 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 57/100 (solid 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 19.0B CNY (≈ $2.8B) Mid · P/E ratio 24.1 · P/S ratio 9.34 · EPS (TTM) ¥0.5400 · Dividend yield 1.1% · Net margin 38.0% · Return on equity 5.9% · Return on assets (EBIT) 1.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −48%, 600927 screens richer than that median.
Fair Value models
Bear¥6.80Fair Value ¥6.80Bull¥9.13
Price ¥13.02 · Downside -47.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.3419 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.−12.4% vs −0.3%, 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.
Free, no sign-up
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 · 384 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−47.8% · Bottom 25%
Profitability
Return on equity (12 months)5.9% · Below median
Return on assets0.8% · Bottom 25%
Net margin (12 months)38.0% · Above median
Operating margin (12 months)20.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)−15.7% · Bottom 25%
Dividend yield (12 months)1.1% · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
P/E (12 months)24.1× · Priciest 25%
P/B1.43× · Pricier than median
P/S (12 months)9.34× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)0· sector 68
PAST (return on equity)24· sector 38
HEALTH (low debt)–
DIVIDEND (yield)22· sector 47
VALUE 0: the price sits above our fair-value range.
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
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 Nov 5, 2026, our model estimates a fair value of ¥6.80 versus a price of ¥13.02, about 48% lower (overvalued).
What is the fair value of 600927?
Our model-based fair value for Yongan Futures Co.Ltd. is ¥6.80 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥13.02.
What is the quality score of 600927?
Yongan Futures Co.Ltd. has a Quality Score of 57/100. 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 ¥6.80 (as of Nov 5, 2026) from 6 valuation models. Cautious scenario ¥6.80, optimistic scenario ¥9.13. 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 ¥6.80, about 48% lower versus a price of ¥13.02 (overvalued). Cautious scenario ¥6.80, optimistic scenario ¥9.13. 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 2.0B CNY (latest available figure, as of Nov 5, 2026).
Does Yongan Futures Co.Ltd. pay a dividend?
Yongan Futures Co.Ltd. currently shows a dividend yield of 1.08% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Yongan Futures Co.Ltd. (600927) and when is the ex-dividend date?
Yongan Futures Co.Ltd. pays a dividend of ¥0.14 per share a year, a dividend yield of 1.1%. The last ex-dividend date was Oct 16, 2026. A dividend has been paid every year since at least 2022. The payout ratio is 25.9% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
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 ¥6.80 per share (as of Nov 5, 2026), against a price of ¥13.02. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Yongan Futures Co.Ltd. stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 600927 trades above its calculated fair value: price ¥13.02, fair value ¥6.80, a gap of about −48% (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 (¥13.02); the fair value is what the company's own numbers justify (¥6.80). For Yongan Futures Co.Ltd. the two are ¥6.22 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 19.0B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥13.02; our models calculate a fair value of ¥6.80 per share.
What do the bullish and bearish scenarios say about 600927?
Our models span a range for Yongan Futures Co.Ltd.: cautious scenario ¥6.80, base ¥6.80, optimistic ¥9.13 per share (as of Nov 5, 2026, price ¥13.02). 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 24.1 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥6.80 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2025 ex one-offs: 35.0. Other multiples: P/B 1.4, P/S 9.3.
How solid is the balance sheet of Yongan Futures Co.Ltd. (600927)?
Balance-sheet figures for Yongan Futures Co.Ltd. (as of Nov 5, 2026): return on equity 5.9%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 600927 from its 52-week high?
Yongan Futures Co.Ltd. trades at ¥13.02, about 21% below its 52-week high of ¥16.53 and 12% above the low of ¥11.58 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥6.80 is for.
Which stocks are comparable to Yongan Futures Co.Ltd.?
From the same area (Financial Services) we also value Morgan Stanley, 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 Nov 5, 2026: price ¥13.02, calculated fair value ¥6.80 (−48%), Quality Score 57/100, 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 600927 calculated?
We run Yongan Futures Co.Ltd. through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of ¥6.80 builds on their evidence-weighted average, 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 13.0% 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 Nov 6, 2026 was ¥13.02. Our model-based fair value is ¥6.80, about 48% lower (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 (¥9.13). The favourable scenario is already priced in. Solid but not exceptional quality (57/100) 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 19.0B CNY (≈ $2.8B). 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 9.34 (last twelve months). 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 ¥0.5400 (price ÷ EPS = P/E 24.1). 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 25.9%). 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 38.0% (last twelve months). 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 5.9% (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 20.3% (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 −15.7% 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 −36.5% 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.
Free · no account needed
Watch Yongan Futures Co.Ltd. in the live analysis
One click puts Yongan Futures Co.Ltd. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 5, 2026