TUHU Car Inc (9690) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of TUHU Car Inc HK$12.85, price HK$11.29, upside +13.8%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
36‑month range HK$10.26 – HK$36.30 · fair‑value band HK$9.46 – HK$16.71 · the HK$11.29 price screens below the HK$12.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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TUHU Car Inc., together with its subsidiaries, operates as an integrated online and offline platform for automotive services in China.
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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.
Stock analysis
TUHU Car Inc (9690) currently trades at HK$11.29, while our model-based Fair Value estimate is HK$12.85, implying the stock looks roughly 12.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$20.70 per share, and 15 of the 24 models we run sit above the HK$11.29 price.
Bear case: the Asset-Based group reads lowest at HK$5.23, and 9 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: HK$9.46 (bear) to HK$16.71 (bull), the price of HK$11.29 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 53/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
TUHU Car Inc reported revenue of 16.5B CNY in FY2025 versus 11.7B CNY in FY2021, a compound +8.9%/yr. Reported net income was 420M CNY in FY2025.
Key figures
Market cap HK$10.6B (≈ $1.3B) · P/E ratio 22.1 · P/S ratio 0.56 · EPS (TTM) HK$0.3800 · Net margin 2.6% · Return on equity 8.5% · Return on assets (EBIT) −3.2% · Operating margin 0.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 42% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −32% fair-value upside, at 14%, 9690 screens cheaper than that median.
Fair Value models
Bear HK$9.46Fair Value HK$12.85Bull HK$16.71
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.2863 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.Evidence ⓘEvidence = 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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+12.5%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.5%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+15.2%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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. Basis: EBIT basis.
+15.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.1%
Dividend (yield on the price)0.0%
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.−10% → 2%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−27.5%
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.
+8.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −28.7% a year for the price and +6.8% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Auto Parts · 681 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+13.8% · Above median
Profitability
Return on equity (TTM)8.5% · Above median
Return on assets1.1% · Below median
Net margin (TTM)2.6% · Below median
Operating margin (TTM)0.2% · Bottom 25%
Growth and dividend
Revenue growth12.5% · Above median
Valuation Multiplesvs Auto Parts median · lower = cheaper
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Cite: Fair Value Calculator (2026). "TUHU Car Inc Fair Value". https://www.fairvalue-calculator.com/stock/9690
Frequently asked questions
Is TUHU Car Inc (9690) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$12.85 versus a price of HK$11.29, about +14% upside (undervalued).
What is the fair value of 9690?
Our model-based fair value for TUHU Car Inc is HK$12.85 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$11.29.
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 price target for TUHU Car Inc (9690)?
Our model-based price target is the fair value of HK$12.85 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario HK$9.46, optimistic scenario HK$16.71. It is a calculation from audited fundamentals, not an analyst target.
What is the TUHU Car Inc stock forecast for 2026?
Our models put fair value at HK$12.85, about +14% upside versus a price of HK$11.29 (undervalued). Cautious scenario HK$9.46, optimistic scenario HK$16.71. The calculation is refreshed regularly with new filings.
What is the revenue of TUHU Car Inc (9690)?
TUHU Car Inc reported trailing-twelve-month revenue of about 16.5B CNY (latest available figure, as of Sep 27, 2026).
What growth is priced into TUHU Car Inc (9690)?
For today's price to be fair in a discounted-cash-flow model, TUHU Car Inc would have to grow free cash flow by -27.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.5 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 9690 use?
Our models discount TUHU Car Inc at 11.8 %: a base by market capitalisation (small), country premium for Hong Kong. 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 TUHU Car Inc that is -27.5 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has TUHU Car Inc (9690) delivered so far?
Over the past 5 years revenue at TUHU Car Inc grew +13.5 % a year. The price currently implies -27.5 % 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 TUHU Car Inc (9690) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into TUHU Car Inc (-27.5 % 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 TUHU Car Inc (9690)?
The free-cash-flow yield on the price is 11.92 %: that much free cash flow TUHU Car Inc produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TUHU Car Inc (9690)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TUHU Car Inc it is HK$12.85 per share (as of Sep 27, 2026), against a price of HK$11.29. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is TUHU Car Inc stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 9690 trades below its calculated fair value: price HK$11.29, fair value HK$12.85, a gap of about +14% (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 9690?
No. The price is what the market pays today (HK$11.29); the fair value is what the company's own numbers justify (HK$12.85). For TUHU Car Inc the two are HK$1.56 per share apart. That gap is exactly why we show both numbers side by side.
How much is TUHU Car Inc worth?
The market values TUHU Car Inc at about HK$10.6B (market capitalisation, as of Sep 27, 2026). Per share that is HK$11.29; our models calculate a fair value of HK$12.85 per share.
What do the bullish and bearish scenarios say about 9690?
Our models span a range for TUHU Car Inc: cautious scenario HK$9.46, base HK$12.85, optimistic HK$16.71 per share (as of Sep 27, 2026, price HK$11.29). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9690?
TUHU Car Inc trades at a price-to-earnings ratio of 22.1 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$12.85 is built from several models across several years. Other multiples: P/B 1.8, P/S 0.5, EV/EBITDA 15.2.
How solid is the balance sheet of TUHU Car Inc (9690)?
Balance-sheet figures for TUHU Car Inc (as of Sep 27, 2026): return on equity 8.5%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 9690 from its 52-week high?
TUHU Car Inc trades at HK$11.29, about 42% below its 52-week high of HK$19.30 and 10% above the low of HK$10.26 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$12.85 is for.
Which stocks are comparable to TUHU Car Inc?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry 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 TUHU Car Inc stock attractive at the current price?
The data as of Sep 27, 2026: price HK$11.29, calculated fair value HK$12.85 (+14%), Quality Score 53/100, from 24 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 9690 calculated?
We run TUHU Car Inc through 24 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 HK$12.85, 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 14.5 % above its aggregate fair value. TUHU Car Inc currently trades 12 % 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 TUHU Car Inc (9690)?
The closing price on Sep 30, 2026 was HK$11.29. Our model-based fair value is HK$12.85, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TUHU Car Inc right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of TUHU Car Inc
How large is the market capitalisation of TUHU Car Inc (9690)?
The market capitalisation of TUHU Car Inc is HK$10.6B (≈ $1.3B). 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 TUHU Car Inc (9690)?
The price-to-sales ratio of TUHU Car Inc is 0.56 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TUHU Car Inc (9690)?
Earnings per share at TUHU Car Inc are HK$0.3800 (price ÷ EPS = P/E 22.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of TUHU Car Inc (9690)?
The net margin of TUHU Car Inc is 2.6% (fiscal year 2025). 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 TUHU Car Inc (9690)?
The return on equity (ROE) of TUHU Car Inc is 8.5% (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 TUHU Car Inc (9690)?
On an EBIT basis the return on assets of TUHU Car Inc is −3.2% (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 TUHU Car Inc (9690)?
The operating margin of TUHU Car Inc is 0.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TUHU Car Inc (9690)?
Revenue at TUHU Car Inc is growing +12.5% versus a year earlier (3y avg +12.5%). 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 TUHU Car Inc (9690)?
Earnings per share at TUHU Car Inc are growing −60.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does TUHU Car Inc (9690) hold?
TUHU Car Inc holds more cash than debt, 2.7B CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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