Bank of Communications Co (601328) Fair Value & Analysis
Financial Services · CN · Market cap 584B CNY (≈ $87.2B) · ISIN CNE1000000S2
What is Bank of Communications Co really worth?
Below-average quality, trading 39% below our fair value of ¥12.16.
Strengths
Risks
For context
Fair value as of: Aug 20, 2026
From 6 valuation models · updated 16 days ago
Share price +7.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (¥9.12). The market is more pessimistic than our downside scenario.
- 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 20, 2026.
How to read this chart
60‑month range ¥3.72 – ¥8.32 · fair‑value band ¥9.12 – ¥15.20 · the ¥7.42 price screens below the ¥12.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Bank of Communications Co (601328) currently trades at ¥7.42, while our model-based Fair Value estimate is ¥12.16, implying the stock looks roughly 39.0% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of ¥14.04 per share, and 6 of the 6 models we run sit above the ¥7.42 price. Bear case: the Asset-Based group reads lowest at ¥8.90, and 0 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Bank of Communications Co generated revenue of 212B CNY at a net margin of 45.4%. Revenue grew 3.1% year over year. It earns a return on equity of 7.9%. Net debt stands at 3.9T CNY. Fundamentals as of Aug 20, 2026
Our scenario range runs from ¥9.12 (bear case) to ¥15.20 (bull case); at ¥7.42, the current price sits below 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 11% below its 52-week high and 15% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −8% fair-value upside, at 64%, 601328 screens cheaper 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 ¥0.4858 per share, which is 4.0 % 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 6 models by family
Widest divergence: Multiples (¥14.04) versus Asset-Based (¥8.90). Highest evidence: Residual Income (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 60
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
Bank of Communications Co., Ltd. provides commercial banking products and services in China and internationally. The company offers savings deposit products, including demand deposits, lump-sum deposits and withdrawal, time deposit of small savings for lump-sum withdrawal, interest withdrawal on principal deposited, time-demand deposit, call deposit, swap …
Full company description
Bank of Communications Co., Ltd. provides commercial banking products and services in China and internationally. The company offers savings deposit products, including demand deposits, lump-sum deposits and withdrawal, time deposit of small savings for lump-sum withdrawal, interest withdrawal on principal deposited, time-demand deposit, call deposit, swap management, and education deposit; personal certificate of deposit; salary financing; and foreign currency deposit. It also provides credit, quasi-credit, and debit cards; new housing and second-hand mortgage loans and unsecured personal loans; personal wealth management advisor services; and precious metal and commodity trading services. In addition, the company offers corporate structured deposit and corporate certificate of deposit; corporate cash management; industrial chain finance program comprising prepayment financing, inventory financing, accounts receivable financing and accounts payable financing; syndicated loans; corporation overdraft; investment banking services; and offshore banking services. Further, the company provides bond account activation, bond distribution, and transaction services; related bond escrow and settlement, pledge registration, and principal and interest payment services; training and consulting services for cooperative banks; cross-border inter-bank payments system services; consignment sales of precious metal products; bond underwriting distribution; third party bond depository services; bank derivatives transfer; b-share transfer; bank-futures transfer; standard warehouse warrant pledged financing; institutional investment consulting, wealth management, and insurance services; and clearing and settlement services for future markets. The company was founded in 1908 and is headquartered in Shanghai, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Bank of Communications Co reported revenue of 262B CNY in FY2025 versus 203B CNY in FY2021, a compound +6.6%/yr. Reported net income was 96.5B CNY in FY2025, compounding +2.5%/yr from FY2021.
of which total revenue +12.0 % · buybacks/dilution −0.7 %
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).
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Peer Group
Banks - Diversified · 48 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 Banks - Diversified 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| JPMorgan Chase & Co JPM | $354.22 | $217.97 | −38% |
| Bank of America Corporation BAC | $61.17 | $50.87 | −17% |
| China Construction Bank Corporation 601939 | ¥10.55 | ¥18.21 | +73% |
| Industrial and Commercial Bank of China Limited 601398 | ¥7.86 | ¥14.44 | +84% |
| HSBC Holdings HSBC | $103.14 | $75.89 | −26% |
| Agricultural Bank of China Limited 601288 | ¥6.79 | ¥12.94 | +91% |
| Royal Bank of Canada RY | C$283.11 | C$151.80 | −46% |
| Bank of China Limited 601988 | ¥6.14 | ¥11.24 | +83% |
| Wells Fargo & Company WFC | $86.69 | $79.60 | −8% |
| Mitsubishi UFJ Financial Group MUFG | $22.90 | $20.50 | −10% |
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