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TuanChe (TC) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of TuanChe stock $0.24, price $0.83, that is 71.3% below the price, quality 27 out of 100. Rating: strongly overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.

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Communication Services US · ADR · Based in China

T TuanChe logo Thin data Nov 6, 2026

TuanChe

TC · US
Very expensive, weak quality

Our calculation puts a fair price 71% below what the stock costs today.

Highly profitable · 38.3% net margin (FY2025)
Low debt
Generates free cash flow over the last twelve months
Costs just 0 times its yearly profit.
Fair value $0.2380 · Strongly overvalued
Quality 27/100
Weak Growth (revenue 5y −55.5 %/yr in CNY)
Trails peers (2/9)
Narrow moat 32/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$3,027 $0.8300 Fair Value $0.2380 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range $0.8300 – $3,027 · fair‑value band $0.1785 – $0.2975 · the $0.8300 price screens above the $0.2380 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.

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Company profile

Token Cat Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in the People's Republic of China.

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It also offers electronic equipment trading and technical support, and consulting services; subscription and support services; The company was formerly known as TuanChe Limited and changed its name to Token Cat Limited in February 2025.

Token Cat Limited was founded in 2010 and is headquartered in Beijing, China.

Stock analysis

TuanChe (TC) currently trades at $0.8300, while our model-based Fair Value estimate is $0.2380, 71% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of $0.7500 per share, and 1 of the 7 models we run sit above the $0.8300 price.

Bear case: the Earnings-Based group reads lowest at $0.1000, and 6 of the 7 models stay below the price. Data coverage for this calculation is low.

Scenario range: $0.1785 (bear) to $0.2975 (bull), the price of $0.8300 sits above 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 27/100 (below-average quality), in the Communication Services sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

TuanChe ADR reported revenue of 5.8M CNY in FY2025 versus 358M CNY in FY2021, a compound −64.4%/yr. Reported net income was 2.2M CNY in FY2025.

Key figures

Market cap $22.3M · P/E ratio 0.0 · EPS (TTM) $46.65 · Net margin 38.3% · Return on equity −130% · Return on assets (EBIT) −81.3% (5-year average) · Operating margin −155% · Revenue growth (YoY) −38.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 96% below its 52-week high and at its 52-week low.

For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at −71%, TC screens richer than that median.

Fair Value models

Bear $0.1785 Fair Value $0.2380 Bull $0.2975
Price $0.8300 · Downside -71.3%
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 ($40.00 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.
Best data coverage
Residual Income $0.4900 $0.5000 $0.5200 71
Growth-Adj P/E $0.1500 $0.2100 $0.2700 68
Graham-Dodd $0.0900 $0.1000 $0.1200 67
All 7 models by family
Earnings-Based
Graham-Dodd $0.0900 $0.1000 $0.1200 67
Multiples
P/E Multiple $0.2100 $0.2800 $0.3400 63
P/S Multiple $0.0900 $0.1100 $0.1400 58
P/B Multiple $0.9900 $1.32 $1.65 55
Asset-Based
NCAV (Graham) $0.5000 $0.7500 $0.9400 55
Economic Profit
Residual Income $0.4900 $0.5000 $0.5200 71
Growth Earnings
Growth-Adj P/E $0.1500 $0.2100 $0.2700 68

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 27/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 29
How much profit the company makes from its sales and capital
Quality Growth 20
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 47
Debt, balance sheet and risk of trouble
Investment 79
Does it invest with discipline instead of growing at any price?
Low Volatility 34
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−88.3%
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.
−68.4%
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.
−55.5%
Start year 2020 (pandemic)
Revenue growth 9 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.
−28.5%
Profit margin (trend) ⓘ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.
−51.9% (2020) → −582.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

TC screens overvalued: fair value 71% below the price. Compare with AppLovin Corporation →

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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.Advertising Agencies · 170 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside −71.3% · Bottom 25%
Profitability
Return on assets 1.3% · Below median
Net margin (12 months) 38.3% · Top 25%
Operating margin (12 months) −155.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −38.8% · Bottom 25%
Balance sheet
Debt / equity 0.08× · Above median

Valuation Multiplesvs Advertising Agencies median · lower = cheaper

P/E (12 months) 0.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 38
FUTURE (revenue growth)0 · sector 15
PAST (return on equity)0 · sector 7
HEALTH (low debt)96 · sector 98
DIVIDEND (yield)0 · sector 53

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Advertising Agencies stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
The Trade Desk, Inc TTD $12.93 $38.79 +200% vs TC
Publicis Groupe S.A PUB €102.95 €145.63 +41% vs TC
Omnicom Group OMC $86.37 $113.06 +31% vs TC
AppLovin Corporation APP $391.22 $430.34 +10% vs TC
Focus Media Information Technology Co 002027 ¥5.55 ¥6.11 +10% vs TC
Magnite, Inc MGNI $27.39 $30.13 +10% vs TC
JCDecaux SE DEC €26.66 €20.99 −21% vs TC
Easy Click Worldwide Network Technology Co 301171 ¥34.54 ¥11.05 −68% vs TC
Leo Group 002131 ¥4.26 ¥1.06 −75% vs TC
Stagwell Inc STGW $11.64 $2.62 −77% vs TC

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TuanChe ADR: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "TuanChe ADR Fair Value". https://www.fairvalue-calculator.com/stock/TC

Frequently asked questions

Is TuanChe (TC) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $0.2380 versus a price of $0.8300, about 71% lower (overvalued).
What is the fair value of TC?
Our model-based fair value for TuanChe is $0.2380 (as of Nov 6, 2026), built from audited fundamentals. The current price: $0.8300.
What is the quality score of TC?
TuanChe has a Quality Score of 27/100. 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 TuanChe (TC)?
Our model-based price target is the fair value of $0.2380 (as of Nov 6, 2026) from 7 valuation models. Cautious scenario $0.1785, optimistic scenario $0.2975. It is a calculation from audited fundamentals, not an analyst target.
What is the TuanChe ADR stock forecast for 2026?
Our models put fair value at $0.2380, about 71% lower versus a price of $0.8300 (overvalued). Cautious scenario $0.1785, optimistic scenario $0.2975. The calculation is refreshed regularly with new filings.
What is the intrinsic value of TuanChe (TC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TuanChe it is $0.2380 per share (as of Nov 6, 2026), against a price of $0.8300. It is the blended result of 7 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is TuanChe ADR stock overvalued or undervalued in 2026?
As of Nov 6, 2026, TC trades above its calculated fair value: price $0.8300, fair value $0.2380, a gap of about −71% (overvalued). 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 TC?
No. The price is what the market pays today ($0.8300); the fair value is what the company's own numbers justify ($0.2380). For TuanChe the two are $0.5920 per share apart. That gap is exactly why we show both numbers side by side.
How much is TuanChe ADR worth?
The market values TuanChe at about $22.3M (market capitalisation, as of Nov 6, 2026). Per share that is $0.8300; our models calculate a fair value of $0.2380 per share.
What do the bullish and bearish scenarios say about TC?
Our models span a range for TuanChe: cautious scenario $0.1785, base $0.2380, optimistic $0.2975 per share (as of Nov 6, 2026, price $0.8300). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TC?
TuanChe trades at a price-to-earnings ratio of 0.0 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.2380 is built from several models across several years.
How solid is the balance sheet of TuanChe (TC)?
Balance-sheet figures for TuanChe (as of Nov 6, 2026): return on equity −129.7%, debt of 0.08 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is TC from its 52-week high?
TuanChe trades at $0.8300, about 96% below its 52-week high of $18.82 and at the low of $0.8300 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $0.2380 is for.
Which stocks are comparable to TuanChe ADR?
From the same area (Communication Services) we also value AppLovin Corporation, Publicis Groupe S.A, Omnicom Group, Focus Media Information Technology Co, 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 TuanChe ADR stock attractive at the current price?
The data as of Nov 6, 2026: price $0.8300, calculated fair value $0.2380 (−71%), Quality Score 27/100, from 7 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 TC calculated?
We run TuanChe through 7 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $0.2380 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. TuanChe itself currently trades above fair value. 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 TuanChe (TC)?
The closing price on Nov 6, 2026 was $0.8300. Our model-based fair value is $0.2380, about 71% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TuanChe ADR right now?
The price sits above even our optimistic bull case ($0.2975). The favourable scenario is already priced in. Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of TuanChe

How large is the market capitalisation of TuanChe (TC)?
The market capitalisation of TuanChe is $22.3M. 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 are the earnings per share of TuanChe (TC)?
Earnings per share at TuanChe are $46.65 (price ÷ EPS = P/E 0.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of TuanChe (TC)?
The net margin of TuanChe is 38.3% (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 TuanChe (TC)?
The return on equity (ROE) of TuanChe is −130% (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 TuanChe (TC)?
On an EBIT basis the return on assets of TuanChe is −81.3% (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 TuanChe (TC)?
The operating margin of TuanChe is −155% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TuanChe (TC)?
Revenue at TuanChe is growing −38.8% versus a year earlier (3y avg −68.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does TuanChe (TC) generate?
The free cash flow of TuanChe is −172M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does TuanChe (TC) carry?
The net debt of TuanChe is 5.2M 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.
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