China Construction Bank Corporation (601939) Fair Value & Analysis

Financial Services · CN · Market cap 2.7T CNY

A solid business, screening 70% undervalued on our models.

What matters now

• The price is below even our cautious bear case (¥12.90). The market is more pessimistic than our downside scenario.
• Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
• 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 Jul 18, 2026.

How to read this chart

60‑month range ¥4.92 – ¥10.97 · fair‑value band ¥12.90 – ¥21.50 · the ¥10.11 price screens below the ¥17.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

China Construction Bank Corporation (601939) currently trades at ¥10.11, while our model-based Fair Value estimate is ¥17.20, implying the stock looks roughly 70.1% undervalued today. We read business quality at 53/100 (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: high), always confirm before acting.

Over the trailing twelve months, China Construction Bank Corporation generated revenue of 614B CNY at a net margin of 55.6%. Revenue grew 5.0% year over year. It earns a return on equity of 9.6%. Net debt stands at 7.0T CNY. Fundamentals as of Jul 18, 2026

Our scenario range runs from ¥12.90 (bear case) to ¥21.50 (bull case); at ¥10.11, 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 3% below its 52-week high and 19% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 9% fair-value upside, at 70%, 601939 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: DCF Models (¥41.87) versus Dividend Discount (¥7.27). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

China Construction Bank Corporation engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally. It operates through Corporate Finance Business, Personal Finance Business, Treasury and Asset Management Business, and Others segments.

Full company description

China Construction Bank Corporation engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally. It operates through Corporate Finance Business, Personal Finance Business, Treasury and Asset Management Business, and Others segments. The company offers corporate and personal loans; trade financing; deposit taking and wealth management, agency, financial consulting and advisory, cash management, remittance and settlement, guarantee, and investment banking services to individuals, corporations, government agencies, and financial institutions. It is also involved in inter-bank deposit and placement transactions, repurchase and resale transactions, and invests in debt securities; trades in derivatives and foreign currencies; precious metal trading; and custody services. In addition, the company provides finance leasing, transfer and purchase of finance lease assets, and fixed-income investment; motor vehicle, business and household property, construction and engineering, liability insurance, hull and cargo, and short-term health and accidental injury insurance, as well as reinsurance; and cost consulting, whole-process engineering consulting, project management, investment consulting, and bidding agency services; and debt-to-equity swaps and relevant supporting businesses. Further, it engages in private equity investment and management of development funds and other private equity funds; investment banking related services, such as sponsoring and underwriting of public offerings, corporate merger and acquisition and restructuring, direct investment, asset management, and securities brokerage and market research; house rental business; raising and selling of funds; management of annuity and pension funds; and pension advisory service. China Construction Bank Corporation was founded in 1954 and is headquartered in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Construction Bank Corporation reported revenue of ¥1.4T in FY2025 versus ¥656B in FY2021, a compound +20.0%/yr. Reported net income was ¥339B in FY2025, compounding +2.9%/yr from FY2021.

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Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

• Should Value Investors Buy China Construction Bank (CICHY) Stock? Yahoo Finance · Jul 22, 2026
• Are Investors Undervaluing China Construction Bank (CICHY) Right Now? Yahoo Finance · Jul 6, 2026
• Bears are Losing Control Over China Construction Bank (CICHY), Here's Why It's a 'Buy' Now Yahoo Finance · Jun 29, 2026
• Is China Construction Bank (CICHY) Stock Undervalued Right Now? Yahoo Finance · Jun 15, 2026

Peer Group

Banks - Diversified · 47 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 Banks - Diversified 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.