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TUHU Car Inc (9690) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$10.6B

TC TUHU Car Inc 9690 · HK
PriceHK$11.77
Fair ValueHK$10.97
Upside-6.8%
Quality53/100
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Healthy Growth
Thin margins · 2.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/13)
Narrow moat 24/100
Evidence: High Range HK$8.84 – HK$13.71 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$10.96 to HK$10.97 (+0.1%) since Aug 6, 2026. Share price −11.6% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from HK$8.84 (bear) to HK$13.71 (bull), base HK$10.97. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 53/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (3 years)

HK$36.30 HK$10.46 Fair Value HK$10.97 Sep 2023 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

35‑month range HK$10.46 – HK$36.30 · fair‑value band HK$8.84 – HK$13.71 · the HK$11.77 price screens above the HK$10.97 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

TUHU Car Inc (9690) currently trades at HK$11.77, while our model-based Fair Value estimate is HK$10.97, implying the stock looks roughly 6.8% fairly valued today. The Quality Score stands at 53/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, TUHU Car Inc generated revenue of HK$16.5B at a net margin of 2.6%. Revenue grew 12.5% year over year. It earns a return on equity of 8.5%. The balance sheet holds a net cash position of HK$2.7B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$8.84 (bear case) to HK$13.71 (bull case); at HK$11.77, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 45% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -52% fair-value upside, at -7%, 9690 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
Growth DCF HK$20.16 HK$32.56 HK$53.72 80
Rev-Margin DCF HK$11.23 HK$14.58 HK$18.97 74
ROIC Compounder HK$6.92 HK$8.00 HK$9.24 72
All 24 models by family
DCF Models
FCF DCF HK$20.31 HK$33.91 HK$57.82 38
Owner Earnings HK$12.25 HK$19.13 HK$31.24 31
5Y Revenue Exit HK$11.23 HK$14.44 HK$18.41 39
5Y EBITDA Exit HK$13.29 HK$18.72 HK$25.30 41
5Y P/E Exit HK$14.96 HK$22.18 HK$30.34 38
10Y Revenue Exit HK$14.03 HK$18.13 HK$23.76 36
10Y EBITDA Exit HK$15.51 HK$21.28 HK$29.57 37
10Y P/E Exit HK$16.62 HK$23.83 HK$33.82 35
Earnings-Based
Graham-Dodd HK$3.77 HK$17.97 HK$24.72 54
Lynch FV HK$4.78 HK$6.83 HK$8.88 50
PEG = 1.0 HK$4.78 HK$6.83 HK$8.88 46
EPV HK$6.84 HK$7.31 HK$7.73 59
Multiples
P/E Multiple HK$9.16 HK$12.21 HK$15.26 63
P/S Multiple HK$7.08 HK$9.43 HK$11.79 58
P/B Multiple HK$7.08 HK$9.43 HK$11.79 55
EV/EBIT HK$8.48 HK$9.97 HK$11.47 53
EV/EBITDA HK$10.50 HK$12.67 HK$14.84 54
EV/Revenue HK$7.01 HK$8.31 HK$9.61 43
Asset-Based
NCAV (Graham) HK$3.34 HK$4.47 HK$6.68 50
Growth DCF
Growth DCF HK$20.16 HK$32.56 HK$53.72 80
Rev-Margin DCF HK$11.23 HK$14.58 HK$18.97 74
Economic Profit
Residual Income HK$5.61 HK$6.05 HK$7.32 61
ROIC Compounder HK$6.92 HK$8.00 HK$9.24 72
Growth Earnings
Growth-Adj P/E HK$7.70 HK$11.00 HK$14.30 68

Widest divergence: DCF Models (HK$19.13) versus Asset-Based (HK$4.47). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$16.5B
Revenue growth (YoY) +12.5%
Net margin 2.6%
Return on equity 8.5%
Free cash flow HK$950M FY2025
P/E ratio 22.1 as of Jul 3, 2026
More key figures
Operating margin 0.2%
EPS (TTM) HK$0.3800
EPS growth (YoY) -60.7%
Net cash HK$2.7B FY2025

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

Quality Score breakdown

Overall quality 53/100

Of which business quality 56 · Market factors (momentum, volatility) 30

Profitability 48
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 47
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

TUHU Car Inc., together with its subsidiaries, operates as an integrated online and offline platform for automotive services in China.

Full company description

TUHU Car Inc., together with its subsidiaries, operates as an integrated online and offline platform for automotive services in China. The company offers tires and chassis parts; auto maintenance services, including fluid chemicals, storage batteries and maintenance accessories, and offline maintenance; and auto repair, car detailing, and automated car wash machines and products, as well as auto accessories. It also provides automotive products and services to consumers through its online interfaces, including TUHU Automotive Service app, its website, and Weixin mini program, as well as offline stores. In addition, the company offers advertising, management of store network, warehouse and supply chain, franchises, and other services, such as insurance brokerage and agency services and software-as-a-service solutions; and sale of used cars, as well as provides used car transaction services. TUHU Car Inc. was founded in 2011 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TUHU Car Inc reported revenue of HK$16.5B in FY2025 versus HK$11.7B in FY2021, a compound +8.9%/yr. Reported net income was HK$420M in FY2025.

Growth Quality 84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$16.5B
Latest YoY
+11.5%
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.
+12.5%
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.
+13.5%
Avg. growth/yr (6Y) 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.
+15.2%
Revenue +8.9%/yr
FY21 HK$11.7B
FY22 HK$11.5B
FY23 HK$13.6B
FY24 HK$14.8B
FY25 HK$16.5B
Net income
FY21 −HK$5.8B
FY22 −HK$2.1B
FY23 HK$6.7B
FY24 HK$484M
FY25 HK$420M

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Cite: Fair Value Calculator (2026). "TUHU Car Inc Fair Value". https://www.fairvalue-calculator.com/stock/9690

Peer Group

Auto Parts · 641 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 53 · Above median
Fair Value upside −7% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 1% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 13% · Above median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 22.1× · Pricier than median
P/B 2.09× · Pricier than median
P/S (TTM) 0.64× · Cheaper than median
P/FCF 1.4× · Cheaper than median
EV/EBITDA 19.1× · Pricier than 75% of peers

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 24 · sector 16
FUTURE 63 · sector 24
PAST 34 · sector 26
HEALTH 100 · sector 95
DIVIDEND 0 · sector 34

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

Stock Price Fair Value vs Fair Value
Hyundai Mobis Co 012330 511,000 KRW 643,909 KRW +26%
Magna International Inc MGAN 1,122 MXN 1,142 MXN +2%
Samvardhana Motherson International Limited MOTHERSON ₹169.50 ₹80.63 -52%
Bosch Limited BOSCHLTD ₹46,750 ₹13,061 -72%
Bharat Forge Limited BHARATFORG ₹2,082 ₹393.20 -81%
Uno Minda Limited UNOMINDA ₹1,232 ₹426.57 -65%
Schaeffler India Limited SCHAEFFLER ₹4,126 ₹1,412 -66%
Hankook Tire & Technology Co 161390 71,500 KRW 196,479 KRW +175%
Sona BLW Precision Forgings Limited SONACOMS ₹799.90 ₹207.06 -74%
Balkrishna Industries Limited BALKRISIND ₹2,497 ₹1,211 -51%

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Frequently asked questions

Is TUHU Car Inc (9690) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$10.97 versus a price of HK$11.77, about −7% (fairly valued).
What is the fair value of 9690?
Our model-based fair value for TUHU Car Inc is HK$10.97 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$11.77.
What is the quality score of 9690?
TUHU Car Inc has a Quality Score of 53/100. 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 TUHU Car Inc (9690)?
TUHU Car Inc reported trailing-twelve-month revenue of about HK$16.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9690?
The net profit margin of TUHU Car Inc is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. Based on the latest reported figures.

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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