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People.Cn Co Ltd (603000) Fair Value & Analysis

Communication Services · CN · Market cap 18.9B CNY (≈ $2.8B) · ISIN CNE100001FP0

What is People.Cn Co Ltd really worth?

PC People.Cn Co Ltd 603000 · SHG
Price¥16.76
Fair Value¥4.23
Upside−74.8%
Quality70/100

A solid business, but trading 296% above our fair value of ¥4.23.

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Strengths

generates free cash flow

Risks

!Weak Growth (revenue 5y −0.2 %/yr)
!Thin margins · 9.2% net margin
!Trails peers (3/13)
!Narrow moat 33/100
!Weak on past: 21 out of 100
!Weak on dividend: 16 out of 100

For context

·0.79% dividend yield
Evidence: High Range ¥3.17 – ¥5.29

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Share price −4.1% over the past month.

What runs behind every stock

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

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (¥5.29). The favourable scenario is already priced in.

Price vs Fair Value (5 years)

¥42.14 ¥8.54 Fair Value ¥4.23 Mar 2021 Sep 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

60‑month range ¥8.54 – ¥42.14 · fair‑value band ¥3.17 – ¥5.29 · the ¥16.76 price screens above the ¥4.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

People.Cn Co Ltd (603000) currently trades at ¥16.76, while our model-based Fair Value estimate is ¥4.23, implying the stock looks roughly 296.2% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Communication Services sector. Bull case: the DCF Models group reads highest at a median of ¥6.84 per share, and 0 of the 26 models we run sit above the ¥16.76 price. Bear case: the Earnings-Based group reads lowest at ¥1.19, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, People.Cn Co Ltd generated revenue of 2.1B CNY at a net margin of 9.2%. Revenue declined 2.4% year over year. It earns a return on equity of 5.2%. The balance sheet holds a net cash position of 1.5B CNY. Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥3.17 (bear case) to ¥5.29 (bull case); at ¥16.76, 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 46% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 9% fair-value upside, at −75%, 603000 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 ¥0.0251 per share, which is 0.6 % 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.

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
FCF DCF best evidence ¥5.86 ¥8.00 ¥11.23 79
Growth DCF ¥5.93 ¥7.84 ¥10.56 77
Residual Income ¥2.75 ¥2.84 ¥2.81 76
All 26 models by family
DCF Models
FCF DCF best evidence ¥5.86 ¥8.00 ¥11.23 79
Owner Earnings ¥5.00 ¥6.68 ¥9.22 74
5Y Revenue Exit ¥4.76 ¥6.19 ¥7.98 71
5Y EBITDA Exit ¥5.30 ¥7.18 ¥9.34 73
5Y P/E Exit ¥5.11 ¥6.84 ¥8.62 69
10Y Revenue Exit ¥5.05 ¥6.44 ¥8.24 66
10Y EBITDA Exit ¥5.46 ¥7.13 ¥9.28 67
10Y P/E Exit ¥5.35 ¥6.89 ¥8.73 63
Earnings-Based
Graham-Dodd ¥1.31 ¥3.92 ¥5.20 65
Lynch FV ¥0.8300 ¥1.19 ¥1.55 61
PEG = 1.0 ¥0.8300 ¥1.19 ¥1.55 57
EPV ¥3.95 ¥4.29 ¥4.59 70
Dividend Discount
Gordon GGM ¥1.21 ¥2.52 ¥4.00 66
DDM Multi-Stage ¥1.21 ¥1.97 ¥2.64 66
Multiples
P/E Multiple ¥3.17 ¥4.23 ¥5.29 63
P/S Multiple ¥2.45 ¥3.27 ¥4.09 58
P/B Multiple ¥2.45 ¥3.27 ¥4.09 55
EV/EBIT ¥5.06 ¥6.11 ¥7.17 63
EV/EBITDA ¥5.38 ¥6.55 ¥7.71 64
EV/Revenue ¥4.29 ¥5.32 ¥6.35 52
Asset-Based
NCAV (Graham) ¥1.76 ¥2.35 ¥3.51 51
Growth DCF
Growth DCF ¥5.93 ¥7.84 ¥10.56 77
Rev-Margin DCF ¥4.76 ¥6.23 ¥7.91 71
Economic Profit
Residual Income ¥2.75 ¥2.84 ¥2.81 76
ROIC Compounder ¥4.04 ¥4.61 ¥5.31 70
Growth Earnings
Growth-Adj P/E ¥2.58 ¥3.69 ¥4.79 67

Widest divergence: DCF Models (¥6.84) versus Earnings-Based (¥1.19). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 98.6
P/S ratio 10.1 P/E × margin
EPS (TTM) ¥0.1700 price ÷ EPS = P/E 98.6
Dividend yield 0.8% payout 78.2%
Net margin 10.3% FY2025
Return on equity 5.2% TTM
More key figures
Profitability
Return on assets (EBIT) 5.4% avg 5y
Operating margin −16.7% TTM
Growth
Revenue (TTM) 2.1B CNY TTM
Revenue growth (YoY) −2.4% 3y avg +1.6%
EPS growth (YoY) +17.5%
Balance sheet & cash flow
Free cash flow 390M CNY FY2025
Net cash 1.5B CNY FY2024

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 72 · Market factors (momentum, volatility) 33

Profitability 34
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 80
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.

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

People.cn CO., LTD provides advertising and publicity services in China. The company offers advertising and publicity services in the form of links, pictures, and multimedia through People.cn, the People.cn+ client, and network operation platforms, as well as activity and event service platforms, such as Huanqiu.com and Overseas.cn.

Full company description

People.cn CO., LTD provides advertising and publicity services in China. The company offers advertising and publicity services in the form of links, pictures, and multimedia through People.cn, the People.cn+ client, and network operation platforms, as well as activity and event service platforms, such as Huanqiu.com and Overseas.cn. It also provides professional technical services, including website construction, hosting, and network access to social users; software development services and software platform construction services; full-process public opinion management through SaaS products; news, public opinion, life, entertainment, and other information services through mobile platforms. In addition, the company is involved in the provision of consulting and training services; internet service operation; and other service businesses. The company was founded in 1997 and is based in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

People.Cn Co Ltd reported revenue of 2.1B CNY in FY2025 versus 2.2B CNY in FY2021, a compound −1.3%/yr. Reported net income was 213M CNY in FY2025, compounding +6.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
2.1B CNY
Latest YoY
−0.6%
Avg. revenue 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.
+1.6%
Avg. revenue 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.
−0.2%
Avg. revenue growth/yr (17Y) 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.
+17.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−6.9% (−7.7 + 0.8)
Revenue −1.3%/yr
FY21 2.2B CNY
FY22 2.0B CNY
FY23 2.1B CNY
FY24 2.1B CNY
FY25 2.1B CNY
Net income +6.4%/yr
FY21 166M CNY
FY22 311M CNY
FY23 331M CNY
FY24 209M CNY
FY25 213M CNY
Character of growth · EPS growth decomposed (2013-2024) −0.3 % p.a.
Revenue per share +4.3 %

of which total revenue +4.3 % · buybacks/dilution +0.0 %

EBIT margin −6.2 %
Tax rate +0.1 %
Residual (interest, one-offs) +1.7 %

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).

603000 screens 296% overvalued. Compare with The New York Times Company →

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Cite: Fair Value Calculator (2026). "People.Cn Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603000

Peer Group

Publishing · 108 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 70 · Top 25%
Fair Value upside −75% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 3% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) −17% · Bottom 25%
Revenue growth −2% · Below median
Dividend yield (TTM) 0.8% · Bottom 25%

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 98.6× · Pricier than 75% of peers
P/B 4.87× · Pricier than 75% of peers
P/S (TTM) 9.15× · Pricier than 75% of peers
P/FCF 7.2× · Pricier than median
EV/EBITDA 65.7× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 39
FUTURE0 · sector 0
PAST21 · sector 22
HEALTH0 · sector 99
DIVIDEND16 · sector 55

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.

None of the checked exposures detected

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Frequently asked questions

Is People.Cn Co Ltd (603000) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥4.23 versus a price of ¥16.76, about −75% upside (overvalued).
What is the fair value of 603000?
Our model-based fair value for People.Cn Co Ltd is ¥4.23 (as of Aug 13, 2026), built from audited fundamentals. The current price: ¥16.76.
What is the quality score of 603000?
People.Cn Co Ltd has a Quality Score of 70/100. 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 People.Cn Co Ltd (603000)?
People.Cn Co Ltd reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 603000?
The net profit margin of People.Cn Co Ltd is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.
Does People.Cn Co Ltd pay a dividend?
People.Cn Co Ltd currently shows a dividend yield of about 0.79% relative to its recent price (as of Aug 13, 2026).
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