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China Communications Construction Company (601800) Fair Value & Analysis

Industrials · CN · Market cap 96.3B CNY

CC China Communications Construction Company 601800 · SHG
Price¥6.12
Fair Value¥15.69
Upside+156.4%
Quality33/100
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Mixed Growth
Thin margins · 1.8% net margin
High debt · negative free cash flow
3.33% dividend yield
Mixed vs. peers (6/14)
Narrow moat 28/100
Evidence: Medium Range ¥15.14 – ¥19.61 Share as image

Fair value as of: Jul 12, 2026

From 14 valuation models · updated 27 days ago

Fair value updated Jul 12, 2026, revised from ¥14.85 to ¥15.69 (+5.7%) since Jul 5, 2026. Share price +4.6% over the past month.

Below-average quality, screening 156% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (33/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (¥15.14). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

¥11.51 ¥5.47 Fair Value ¥15.69 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥5.47 – ¥11.51 · fair‑value band ¥15.14 – ¥19.61 · the ¥6.12 price screens below the ¥15.69 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

China Communications Construction Company (601800) currently trades at ¥6.12, while our model-based Fair Value estimate is ¥15.69, implying the stock looks roughly 156.4% undervalued today. We read business quality at 33/100 (below-average quality), in the Industrials 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, China Communications Construction Company generated revenue of 732B CNY at a net margin of 1.8%. Revenue grew 0.8% year over year. It earns a return on equity of 4.1%. Net debt stands at 566B CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥15.14 (bear case) to ¥19.61 (bull case); at ¥6.12, the current price sits below 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 41% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 156%, 601800 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥14.61 ¥14.73 ¥13.96 76
Gordon GGM ¥2.79 ¥5.80 ¥9.21 70
Growth-Adj P/E ¥27.74 ¥39.63 ¥51.52 68
All 14 models by family
Earnings-Based
Graham-Dodd ¥6.28 ¥43.77 ¥61.43 54
Lynch FV ¥21.30 ¥30.42 ¥39.55 50
PEG = 1.0 ¥21.30 ¥30.42 ¥39.55 46
Dividend Discount
Gordon GGM ¥2.79 ¥5.80 ¥9.21 70
DDM Multi-Stage ¥2.79 ¥4.89 ¥6.09 61
Multiples
P/E Multiple ¥13.85 ¥18.46 ¥23.08 63
P/S Multiple ¥11.77 ¥15.69 ¥19.61 58
P/B Multiple ¥11.77 ¥15.69 ¥19.61 55
EV/EBIT ¥5.13 ¥13.91 ¥22.68 53
EV/EBITDA ¥6.77 ¥16.09 ¥25.40 54
EV/Revenue ¥4.16 ¥11.76 43
Asset-Based
NCAV (Graham) ¥9.57 ¥12.82 ¥19.14 50
Economic Profit
Residual Income ¥14.61 ¥14.73 ¥13.96 76
Growth Earnings
Growth-Adj P/E ¥27.74 ¥39.63 ¥51.52 68

Widest divergence: Growth Earnings (¥39.63) versus Dividend Discount (¥4.89). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 732B CNY
Revenue growth (YoY) +0.8%
Net margin 1.8%
Return on equity 4.1%
Free cash flow −21.5B CNY FY2025
P/E ratio 6.9
More key figures
Operating margin 4.9%
EPS (TTM) ¥0.8600
Dividend yield 3.3%
EPS growth (YoY) -25.0%
Net debt 566B CNY FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 32 · Market factors (momentum, volatility) 34

Profitability 19
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 78
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

China Communications Construction Company Limited, together with its subsidiaries, provides integrated services for large-scale infrastructure projects in Mainland China, Australia, Hong Kong, Africa, the Middle East, and Southeast Asia. It operates through four segments: Construction, Design, Dredging, and Others.

Full company description

China Communications Construction Company Limited, together with its subsidiaries, provides integrated services for large-scale infrastructure projects in Mainland China, Australia, Hong Kong, Africa, the Middle East, and Southeast Asia. It operates through four segments: Construction, Design, Dredging, and Others. The company engages in infrastructure construction, infrastructure design, and dredging activities. It is also involved in the investment, design, construction, operation, and management of projects related to ports, waterways, roads and bridges, railways, urban rail transit, municipal infrastructure, land reclamation, watershed management, water conservancy, construction, and environmental protection projects. The company was incorporated in 2006 and is based in Beijing, China. China Communications Construction Company Limited operates as a subsidiary of China Communications Construction Group (Ltd.).

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Communications Construction Company reported revenue of ¥727B in FY2025 versus ¥686B in FY2021, a compound +1.5%/yr. Reported net income was ¥15.0B in FY2025, compounding −4.5%/yr from FY2021.

Growth Quality 18/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
727B CNY
Latest YoY
−5.9%
Avg. growth/yr (3Y)
+0.2%
Avg. growth/yr (5Y)
+3.0%
Avg. growth/yr (22Y)
+13.1%
Revenue +1.5%/yr
FY21 ¥686B
FY22 ¥722B
FY23 ¥759B
FY24 ¥772B
FY25 ¥727B
Net income −4.5%/yr
FY21 ¥18.0B
FY22 ¥19.3B
FY23 ¥23.8B
FY24 ¥23.4B
FY25 ¥15.0B

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Cite: Fair Value Calculator (2026). "China Communications Construction Company Fair Value". https://www.fairvalue-calculator.com/stock/601800

Peer Group

Engineering & Construction · 831 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 33 · Bottom 25%
Fair Value upside +156% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 3.3% · Top 25%
Debt / equity 1.56× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 6.9× · Cheaper than 75% of peers
P/B 0.31× · Cheaper than 75% of peers
P/S (TTM) 0.13× · Cheaper than 75% of peers
EV/EBITDA 10.6× · Pricier than median
PEG 1.90× · Pricier than median

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 100 · sector 17
FUTURE 4 · sector 17
PAST 16 · sector 26
HEALTH 22 · sector 94
DIVIDEND 67 · sector 33

Insider activity: 30/100

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹102.36 ₹48.22 -53%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is China Communications Construction Company (601800) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥15.69 versus a price of ¥6.12, about +156% (undervalued).
What is the fair value of 601800?
Our model-based fair value for China Communications Construction Company is ¥15.69 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥6.12.
What is the quality score of 601800?
China Communications Construction Company has a Quality Score of 33/100. 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 China Communications Construction Company (601800)?
China Communications Construction Company reported trailing-twelve-month revenue of about 732B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 601800?
The net profit margin of China Communications Construction Company is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.
Does China Communications Construction Company pay a dividend?
China Communications Construction Company currently shows a dividend yield of about 3.11% relative to its recent price (as of Jul 12, 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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