China Securities Co Ltd (601066) Fair Value & Analysis
Financial Services · CN · Market cap 211B CNY (≈ $31.6B) · ISIN CNE1000031T5
What is China Securities Co Ltd really worth?
Below-average quality, and trading another 110% above our fair value of ¥12.04.
Strengths
Risks
For context
Fair value as of: Aug 28, 2026
From 12 valuation models · updated 8 days ago
Share price −2.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (¥19.68). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (¥9.04 to ¥19.68) 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.
How to read this chart
60‑month range ¥18.00 – ¥33.19 · fair‑value band ¥9.04 – ¥19.68 · the ¥25.28 price screens above the ¥12.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.
Analysis
China Securities Co Ltd (601066) currently trades at ¥25.28, while our model-based Fair Value estimate is ¥12.04, implying the stock looks roughly 109.9% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of ¥35.73 per share, and 6 of the 12 models we run sit above the ¥25.28 price. Bear case: the Dividend Discount group reads lowest at ¥5.08, and 6 of the 12 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, China Securities Co Ltd generated revenue of 25.9B CNY 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 321B CNY. Fundamentals as of Aug 28, 2026
Our scenario range runs from ¥9.04 (bear case) to ¥19.68 (bull case); at ¥25.28, the current price sits above 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 14% below its 52-week high and 21% 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 −52%, 601066 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.6727 per share, which is 5.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 12 models by family
Widest divergence: DCF Models (¥35.73) versus Dividend Discount (¥5.08). Highest evidence: Growth DCF (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 44 · Market factors (momentum, volatility) 53
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
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 reported revenue of 34.5B CNY in FY2025 versus 37.1B CNY in FY2021, a compound −1.8%/yr. Reported net income was 9.4B CNY in FY2025, compounding −2.0%/yr from FY2021.
of which total revenue +7.5 % · buybacks/dilution −2.7 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
601066 screens 110% overvalued. Compare with Morgan Stanley, a financial holding company, →
Peer Group
Capital Markets · 453 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
Strength profile in five axes (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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $214.77 | $138.97 | −35% |
| The Goldman Sachs Group GS | $1,034 | $756.89 | −27% |
| The Charles Schwab Corporation SCHW | $110.16 | $66.17 | −40% |
| Robinhood Markets, Inc HOOD | $104.26 | $30.94 | −70% |
| Macquarie Group MQG | A$251.87 | A$75.58 | −70% |
| CITIC Securities Company 600030 | ¥27.93 | ¥17.68 | −37% |
| Guotai Haitong Securities Co 601211 | ¥17.87 | ¥18.62 | +4% |
| East Money Information Co 300059 | ¥19.42 | ¥4.77 | −75% |
| Huatai Securities Co 601688 | ¥19.56 | ¥19.26 | −2% |
| Nomura Holdings NMR | $10.30 | $9.99 | −3% |
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