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China Securities Co Ltd HK (6066) Fair Value & Analysis

Financial Services · HK · Market cap HK$93.4B

CS China Securities Co Ltd HK 6066 · HK
PriceHK$11.41
Fair ValueHK$13.64
Upside+19.6%
Quality37/100
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Expensive Growth
Highly profitable · 43.5% net margin
Moderate debt · negative free cash flow
2.87% dividend yield
Ranks above peers (10/13)
Wide moat 69/100
Evidence: High Range HK$8.63 – HK$19.85 Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated 3 days ago

Share price −7.2% over the past month.

Below-average quality, screening 20% undervalued on our models.

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What matters now

  • A fairly wide model range (HK$8.63 to HK$19.85) leaves room in how you read the outcome.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

HK$16.19 HK$4.82 Fair Value HK$13.64 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$4.82 – HK$16.19 · fair‑value band HK$8.63 – HK$19.85 · the HK$11.41 price screens below the HK$13.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

China Securities Co Ltd HK (6066) currently trades at HK$11.41, while our model-based Fair Value estimate is HK$13.64, implying the stock looks roughly 19.6% undervalued today. The Quality Score stands at 37/100 (below-average 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 Securities Co Ltd HK generated revenue of HK$25.9B at a net margin of 43.5%. Revenue grew 61.4% year over year. It earns a return on equity of 9.7%. Net debt stands at HK$310B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$8.63 (bear case) to HK$19.85 (bull case); at HK$11.41, 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 25% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -22% fair-value upside, at 20%, 6066 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 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. Evidence
Highest evidence
Residual Income HK$8.66 HK$9.96 HK$19.07 76
Gordon GGM HK$2.68 HK$5.56 HK$8.83 70
P/E Multiple HK$10.35 HK$13.80 HK$17.25 63
All 9 models by family
DCF Models
Owner Earnings HK$13.14 HK$35.70 HK$83.05 31
Earnings-Based
Graham-Dodd HK$7.22 HK$50.35 HK$70.66 54
Lynch FV HK$16.95 HK$24.22 HK$31.48 50
Dividend Discount
Gordon GGM HK$2.68 HK$5.56 HK$8.83 70
DDM Multi-Stage HK$2.68 HK$4.69 HK$5.84 61
Multiples
P/E Multiple HK$10.35 HK$13.80 HK$17.25 63
P/B Multiple HK$10.06 HK$13.42 HK$16.77 55
Asset-Based
NCAV (Graham) HK$4.79 HK$6.42 HK$9.58 50
Economic Profit
Residual Income HK$8.66 HK$9.96 HK$19.07 76

Widest divergence: DCF Models (HK$35.70) versus Dividend Discount (HK$4.69). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$25.9B
Revenue growth (YoY) +61.4%
Net margin 43.5%
Return on equity 9.7%
Free cash flow −HK$12.7B FY2025
P/E ratio 9.6 as of Jul 2, 2026
More key figures
Operating margin 59.8%
EPS (TTM) HK$1.58
Dividend yield 2.9%
EPS growth (YoY) +120%
Net debt HK$310B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 33 · Market factors (momentum, volatility) 44

Profitability 34
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 22
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

CSC Financial Co., Ltd., together with its subsidiaries, provides investment banking services in Mainland China and internationally. The company operates through four segments: Investment Banking, Wealth Management, Trading and Institutional Client Services, and Asset Management.

Full company description

CSC Financial Co., Ltd., together with its subsidiaries, provides investment banking services in Mainland China and internationally. The company operates through four segments: Investment Banking, Wealth Management, Trading and Institutional Client Services, and Asset Management. The company offers securities brokerage, securities investment consultancy, financial advisory services, securities underwriting and sponsoring, trading and investment of securities, securities asset management, agency sale of securities investment funds, margin financing and securities lending services, agency sale of financial products, and market-making of stock options. It also provides custodian services for securities investment funds, market-making trading business of listed securities, sale of precious metal products, commodity futures brokerage, financial futures brokerage and asset management, equity investment and corporate management services, investment management, raising and management of investment funds, investment management of equity investment, investment consulting, and project consulting services. In addition, it offers equity and debt financing; brokerage agency services for corporate and personal clients in the trading of equity stocks, funds, bonds, and futures; specialized research and advisory services; and private placement offerings and related services. The company was formerly known as China Securities Finance Co., Ltd. CSC Financial Co., Ltd. was founded in 2005 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Securities Co Ltd HK reported revenue of HK$42.3B in FY2025 versus HK$37.5B in FY2021, a compound +3.0%/yr. Reported net income was HK$9.2B in FY2025, compounding −2.7%/yr from FY2021.

Growth Quality 47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$42.3B
Latest YoY
+37.0%
Avg. growth/yr (3Y) 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.
+16.0%
Avg. growth/yr (5Y) 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.
+7.3%
Avg. growth/yr (20Y) 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.
+41.8%
Revenue +3.0%/yr
FY21 HK$37.5B
FY22 HK$27.1B
FY23 HK$28.0B
FY24 HK$30.9B
FY25 HK$42.3B
Net income −2.7%/yr
FY21 HK$10.2B
FY22 HK$7.5B
FY23 HK$7.0B
FY24 HK$7.2B
FY25 HK$9.2B
Character of growth · EPS growth decomposed (2014-2025) +1.0 % p.a.
Revenue per share +5.6 pp

of which total revenue +8.2 pp · buybacks/dilution −2.6 pp

EBIT margin −3.0 pp
Tax rate +1.0 pp
Residual (interest, one-offs) −2.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "China Securities Co Ltd HK Fair Value". https://www.fairvalue-calculator.com/stock/6066

Earlier news

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

Peer Group

Capital Markets · 423 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 40 · Bottom 25%
Fair Value upside +20% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 2% · Above median
Net margin (TTM) 44% · Top 25%
Operating margin (TTM) 60% · Top 25%
Revenue growth 61% · Above median
Dividend yield (TTM) 2.9% · Above median
Debt / equity 1.13× · Higher than 75% of peers

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 9.6× · Cheaper than 75% of peers
P/B 1.13× · Cheaper than median
P/S (TTM) 3.61× · Pricier than median
EV/EBITDA 6.8× · Cheaper 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 59 · sector 14
FUTURE 100 · sector 96
PAST 39 · sector 30
HEALTH 43 · sector 93
DIVIDEND 57 · sector 42

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 Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Mirae Asset Securities Co 006800 38,050 KRW 18,009 KRW -53%
Meritz Financial Group 138040 118,600 KRW 52,717 KRW -56%
Korea Investment Holdings 071050 200,500 KRW 189,335 KRW -6%
NH Investment & Securities Co 005940 28,550 KRW 22,396 KRW -22%
Samsung Securities Co 016360 93,100 KRW 75,573 KRW -19%
Kiwoom Securities Co 039490 299,000 KRW 214,812 KRW -28%
SSI Securities Corporation SSI 25,300 VND 17,375 VND -31%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 294.30 ARS -6%
Daishin Securities Co 003540 26,950 KRW 48,790 KRW +81%
SK Securities Co 001515 4,285 KRW 1,395 KRW -67%

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Frequently asked questions

Is China Securities Co Ltd HK (6066) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$13.64 versus a price of HK$11.41, about +20% (undervalued).
What is the fair value of 6066?
Our model-based fair value for China Securities Co Ltd HK is HK$13.64 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$11.41.
What is the quality score of 6066?
China Securities Co Ltd HK has a Quality Score of 37/100. 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 revenue of China Securities Co Ltd HK (6066)?
China Securities Co Ltd HK reported trailing-twelve-month revenue of about HK$25.9B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6066?
The net profit margin of China Securities Co Ltd HK is about 43.5%, meaning it keeps roughly 43.5% of revenue as net income. Based on the latest reported figures.
Does China Securities Co Ltd HK pay a dividend?
China Securities Co Ltd HK currently shows a dividend yield of about 2.87% relative to its recent price (as of Aug 13, 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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