Everbright Securities Company (601788) Fair Value & Analysis

Financial Services · CN · Market cap 65.9B CNY

A solid business, screening 12% undervalued on our models.

What matters now

• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
• Our model range runs from ¥12.28 (bear) to ¥20.47 (bull), base ¥16.37. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 58/100 (solid quality) with medium evidence: read the verdict with care.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range ¥10.06 – ¥20.83 · fair‑value band ¥12.28 – ¥20.47 · the ¥14.65 price screens below the ¥16.37 fair value. Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Everbright Securities Company (601788) currently trades at ¥14.65, while our model-based Fair Value estimate is ¥16.37, implying the stock looks roughly 11.7% undervalued today. We read business quality at 58/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Everbright Securities Company generated revenue of 11.2B CNY at a net margin of 36.4%. Revenue grew 24.5% year over year. It earns a return on equity of 5.6%. Net debt stands at 112B CNY. Fundamentals as of Jul 25, 2026

Our scenario range runs from ¥12.28 (bear case) to ¥20.47 (bull case); at ¥14.65, 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 32% below its 52-week high and 9% 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 12%, 601788 screens cheaper 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.

Widest divergence: Growth DCF (¥52.12) versus Earnings-Based (¥6.05). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Everbright Securities Company Limited, together with its subsidiaries, operates as a securities company in Mainland China and internationally. It operates through Wealth Management; Corporate Financing; Institutional Customer; Investment Trading; Asset Management; Equity Investment; and Others.

Full company description

Everbright Securities Company Limited, together with its subsidiaries, operates as a securities company in Mainland China and internationally. It operates through Wealth Management; Corporate Financing; Institutional Customer; Investment Trading; Asset Management; Equity Investment; and Others. The company offers securities and futures brokerage, securities investment consulting, securities trading, financial advisory; NEEQ and structural financing; and margin trading and stock pledge, as well as investment banking and financial leasing, margin financing and securities lending, institutional trading, prime brokerage, online securities trading, equity and debt financing, bullion trading, and overseas brokerage and wealth management business. It provides stock and bond financing, merger and acquisition financing, insurance agency, collateralized stock repurchase transactions, and trades stocks, bonds, and derivatives, as well as asset securitization and financial advisory services. In addition, it engages in securities and fund asset management, retail, securities trading and investment, proprietary fixed income and equity investment, factoring, investment research, prime brokerage and custody, customized financial products and package solutions; bond distribution, OTC derivatives, market making, and investment consulting services, etc. Further, the company engages in private securities and equity investment, nominee, business marketing and promotion, as well as operates alternative investment and PPP business, holds motor vehicle and licenses, IT support management, commodities broking and leveraged foreign exchange, etc. The company was incorporated in 1996 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Everbright Securities Company reported revenue of ¥10.9B in FY2025 versus ¥20.4B in FY2021, a compound −14.6%/yr. Reported net income was ¥3.8B in FY2025, compounding +1.9%/yr from FY2021.

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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.

Valuation Multiples vs Capital Markets 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.

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.

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Frequently asked questions

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.