China Citic Bank Corp Ltd Class A (601998) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of China Citic Bank Corp Ltd Class A stock ¥11.89, price ¥9.07, upside +31.1%, quality 39 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
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 3, 2026.
How to read this chart
60‑month range ¥3.86 – ¥9.46 · fair‑value band ¥8.91 – ¥14.53 · the ¥9.07 price screens below the ¥11.89 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
Follow China Citic Bank Corp Ltd Class A in your weekly email
Every Wednesday you see whether China Citic Bank Corp Ltd Class A 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.
China CITIC Bank Corporation Limited provides various banking products and services in the People's Republic of China and internationally. It operates in three segments: Corporate Banking, Retail Banking, and Financial Market business.
Show moreShow less
The Corporate Banking segment offers corporate loans, deposit services, agency services, money transfer and settlement services, and guarantee services to corporate clients, government agencies, and non-financial institutions.
Its Retail Banking segment provides personal loans, deposit services, agency services, remittance and settlement services, and guarantee services to individual customers.
The Financial Markets Business segment engages in interbank lending, repurchase transactions and debt instrument investments in the interbank market, and trading in debt instruments, as well as derivatives and forex trading.
The company also offers wealth management, treasury business, asset management, financial leasing, private banking and other non-bank financial services. It operates through branches; self-service banks; and self-service terminals, as well as smart teller machines.
The company was founded in 1987 and is headquartered in Beijing, the People's Republic of China. China CITIC Bank Corporation Limited operates as a subsidiary of CITIC Financial Holdings Co., Ltd.
Stock analysis
China Citic Bank Corp Ltd Class A (601998) currently trades at ¥9.07, while our model-based Fair Value estimate is ¥11.89, implying the stock looks roughly 24% undervalued today.
Show more
Valuation
Bull case: the Economic Profit group reads highest at a median of ¥12.45 per share, and 3 of the 6 models we run sit above the ¥9.07 price.
Bear case: the Dividend Discount group reads lowest at ¥6.92, and 3 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥8.91 (bear) to ¥14.53 (bull), the price of ¥9.07 sits inside 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 39/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
China Citic Bank Corp Ltd Class A reported revenue of 356B CNY in FY2025 versus 363B CNY in FY2021, a compound −0.4%/yr. Reported net income was 70.6B CNY in FY2025, compounding +6.1%/yr from FY2021.
Key figures
Market cap 505B CNY (≈ $75.8B) Large · P/E ratio 7.4 · P/S ratio 3.25 · EPS (TTM) ¥1.21 · Dividend yield 4.4% · Net margin 46.2% · Return on equity 8.4% · Return on assets (EBIT) 0.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 31%, 601998 screens cheaper than that median.
Fair Value models
Bear¥8.91Fair Value ¥11.89Bull¥14.53
Price ¥9.07 · Upside +31.1%
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 (¥0.6913 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+11.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.7%
Dividend (yield on the price)4.4%
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.6.7% vs 3.8%, steady
Profit margin 2020 to 2025 ⓘ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.17% → 24%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+2.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−5.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +0.3% a year for the price and −7.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (39 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
AI conclusion: Steady operations with modest profit growth form the main strength thanks to CITIC Group ties, while limited transparency and ongoing related-party oversight stand out as the chief weakness.
Main risk: Digital banks backed by Ant Group and Tencent such as MYbank and WeBank could capture more customers in payments and micro-lending, squeezing margins on retail banking and corporate services for China CITIC Bank.
Bull case: By deepening partnerships with tech platforms and accelerating its own AI-driven digital offerings, China CITIC Bank could retain and grow its customer base in retail and corporate segments.
Bear case: If fintech platforms continue to dominate digital channels, China CITIC Bank might lose significant market share in high-margin retail products and fee-based services, pressuring overall profitability.
China CITIC Bank reported modest year-on-year profit growth for the first nine months while redeeming preference shares and securing approval for its interim dividend at the recent extraordinary meeting. As a joint-stock bank with close ties to the CITIC Group, it balances steady operations against ongoing related-party transaction oversight. Does tighter capital management through these steps support resilience in regional banking, or does it limit scope for broader lending growth?
Compare China Citic Bank Corp Ltd Class A with another stock
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.Banks - Regional · 1002 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score39 · Bottom 25%
Fair Value upside+31.1% · Top 25%
Profitability
Return on equity (12 months)8.4% · Below median
Return on assets0.7% · Below median
Net margin (12 months)46.2% · Top 25%
Operating margin (12 months)60.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−1.3% · Bottom 25%
Dividend yield (12 months)4.4% · Top 25%
Balance sheet
Debt / equity0.27× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "China Citic Bank Corp Ltd Class A Fair Value". https://www.fairvalue-calculator.com/stock/601998
Frequently asked questions
Is China Citic Bank Corp Ltd Class A (601998) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of ¥11.89 versus a price of ¥9.07, about +31% upside (undervalued).
What is the fair value of 601998?
Our model-based fair value for China Citic Bank Corp Ltd Class A is ¥11.89 (as of Nov 3, 2026), built from audited fundamentals. The current price: ¥9.07.
What is the quality score of 601998?
China Citic Bank Corp Ltd Class A has a Quality Score of 39/100. 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 China Citic Bank Corp Ltd Class A (601998)?
Our model-based price target is the fair value of ¥11.89 (as of Nov 3, 2026) from 6 valuation models. Cautious scenario ¥8.91, optimistic scenario ¥14.53. It is a calculation from audited fundamentals, not an analyst target.
What is the China Citic Bank Corp Ltd Class A stock forecast for 2026?
Our models put fair value at ¥11.89, about +31% upside versus a price of ¥9.07 (undervalued). Cautious scenario ¥8.91, optimistic scenario ¥14.53. The calculation is refreshed regularly with new filings.
What is the revenue of China Citic Bank Corp Ltd Class A (601998)?
China Citic Bank Corp Ltd Class A reported trailing-twelve-month revenue of about 155B CNY (latest available figure, as of Nov 3, 2026).
Does China Citic Bank Corp Ltd Class A pay a dividend?
China Citic Bank Corp Ltd Class A currently shows a dividend yield of 4.37% relative to its recent price (as of Nov 3, 2026).
What growth is priced into China Citic Bank Corp Ltd Class A (601998)?
For today's price to be fair in a discounted-cash-flow model, China Citic Bank Corp Ltd Class A would have to grow free cash flow by +2.0 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 601998 use?
Our models discount China Citic Bank Corp Ltd Class A at 9.9 %: a base by market capitalisation (large), country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For China Citic Bank Corp Ltd Class A that is +2.0 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has China Citic Bank Corp Ltd Class A (601998) delivered so far?
Over the past 5 years revenue at China Citic Bank Corp Ltd Class A grew +0.8 % a year. The price currently implies +2.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of China Citic Bank Corp Ltd Class A (601998) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into China Citic Bank Corp Ltd Class A (+2.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of China Citic Bank Corp Ltd Class A (601998)?
The free-cash-flow yield on the price is 0.89 %: that much free cash flow China Citic Bank Corp Ltd Class A produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of China Citic Bank Corp Ltd Class A (601998)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Citic Bank Corp Ltd Class A it is ¥11.89 per share (as of Nov 3, 2026), against a price of ¥9.07. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is China Citic Bank Corp Ltd Class A stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 601998 trades below its calculated fair value: price ¥9.07, fair value ¥11.89, a gap of about +31% (undervalued). 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 601998?
No. The price is what the market pays today (¥9.07); the fair value is what the company's own numbers justify (¥11.89). For China Citic Bank Corp Ltd Class A the two are ¥2.82 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Citic Bank Corp Ltd Class A worth?
The market values China Citic Bank Corp Ltd Class A at about 505B CNY (market capitalisation, as of Nov 3, 2026). Per share that is ¥9.07; our models calculate a fair value of ¥11.89 per share.
What do the bullish and bearish scenarios say about 601998?
Our models span a range for China Citic Bank Corp Ltd Class A: cautious scenario ¥8.91, base ¥11.89, optimistic ¥14.53 per share (as of Nov 3, 2026, price ¥9.07). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 601998?
China Citic Bank Corp Ltd Class A trades at a price-to-earnings ratio of 7.4 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥11.89 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 5.8. Other multiples: PEG 1.9, P/B 0.7, P/S 3.2, EV/EBITDA 3.6.
What is the PEG ratio of 601998?
The PEG ratio of China Citic Bank Corp Ltd Class A is 1.89 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of China Citic Bank Corp Ltd Class A (601998)?
Balance-sheet figures for China Citic Bank Corp Ltd Class A (as of Nov 3, 2026): return on equity 8.4%, debt of 0.27 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 601998 from its 52-week high?
China Citic Bank Corp Ltd Class A trades at ¥9.07, about 4% below its 52-week high of ¥9.46 and 32% above the low of ¥6.88 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ¥11.89 is for.
Which stocks are comparable to China Citic Bank Corp Ltd Class A?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial 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 China Citic Bank Corp Ltd Class A stock attractive at the current price?
The data as of Nov 3, 2026: price ¥9.07, calculated fair value ¥11.89 (+31%), Quality Score 39/100, 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 601998 calculated?
We run China Citic Bank Corp Ltd Class A through 6 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 ¥11.89, 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 15.6% above its aggregate fair value. China Citic Bank Corp Ltd Class A currently trades 24% below its own fair value, and the market average says nothing about that. 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 China Citic Bank Corp Ltd Class A (601998)?
The closing price on Nov 5, 2026 was ¥9.07. Our model-based fair value is ¥11.89, about +31% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Citic Bank Corp Ltd Class A right now?
The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain. 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 China Citic Bank Corp Ltd Class A (601998) come from?
Earnings per share at China Citic Bank Corp Ltd Class A grew +4.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.3 %, EBIT margin +2.7 %, tax rate +1.5 %, residual (interest, one-offs) −0.3 %. 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 China Citic Bank Corp Ltd Class A
How large is the market capitalisation of China Citic Bank Corp Ltd Class A (601998)?
The market capitalisation of China Citic Bank Corp Ltd Class A is 505B CNY (≈ $75.8B). 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 China Citic Bank Corp Ltd Class A (601998)?
The price-to-sales ratio of China Citic Bank Corp Ltd Class A is 3.25 (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 China Citic Bank Corp Ltd Class A (601998)?
Earnings per share at China Citic Bank Corp Ltd Class A are ¥1.21 (price ÷ EPS = P/E 7.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of China Citic Bank Corp Ltd Class A (601998)?
The dividend yield of China Citic Bank Corp Ltd Class A is 4.4% (payout 32.7%). 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 China Citic Bank Corp Ltd Class A (601998)?
The net margin of China Citic Bank Corp Ltd Class A is 46.2% (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 China Citic Bank Corp Ltd Class A (601998)?
The return on equity (ROE) of China Citic Bank Corp Ltd Class A is 8.4% (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 China Citic Bank Corp Ltd Class A (601998)?
On an EBIT basis the return on assets of China Citic Bank Corp Ltd Class A is 0.8% (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 China Citic Bank Corp Ltd Class A (601998)?
The operating margin of China Citic Bank Corp Ltd Class A is 60.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Citic Bank Corp Ltd Class A (601998)?
Revenue at China Citic Bank Corp Ltd Class A is growing −1.3% versus a year earlier (3y avg −1.6%). 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 China Citic Bank Corp Ltd Class A (601998)?
Earnings per share at China Citic Bank Corp Ltd Class A are growing +6.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does China Citic Bank Corp Ltd Class A (601998) carry?
The net debt of China Citic Bank Corp Ltd Class A is 2.7T CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch China Citic Bank Corp Ltd Class A in the live analysis
One click puts China Citic Bank Corp Ltd Class A on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 3, 2026