AI · HK Financials — Fair value
A slow-moving intrinsic anchor per name — earnings power and discounted cash flow, residual income for banks — answering what to pay, never when to trade.
1 unheld undervalued 0 held growth-priced-in 0 bargains ★
| Ticker | Name | Close | FV/sh | Method | MoS | Verdict | Quality | F | Bargain | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0966 | China Taiping Insurance | 18.89 | 99.18 | ResInc | +81% | UNDERVALUED | 7.0 | 5 | ||
| 2318 | Ping An Insurance | 52.30 | 82.53* | ResInc | — | n/a · currency | 11.0 | 4 | ||
| 0939 H | CCB - H SHS | 7.84 | 11.69* | ResInc | — | n/a · currency | 8.0 | 4 | ||
| 3968 | China Merchants Bank | 43.86 | 63.63* | ResInc | — | n/a · currency | 5.0 | 5 | ||
| 3328 | Bank of Communications | 6.55 | 9.16* | ResInc | — | n/a · currency | 10.0 | 4 | ||
| 3988 | Bank of China | 4.81 | 6.53* | ResInc | — | n/a · currency | 9.0 | 4 | ||
| 2388 | BOC Hong Kong Holdings | 42.30 | 40.12 | ResInc | -5% | OVERVALUED VS RI | 3.0 | 4 | ||
| 0388 | HKEX | 367.60 | 192.59 | ResInc | -91% | OVERVALUED VS RI | 1.0 | 4 | ||
| 2888 H | STANCHART | 215.80 | 26.30* | ResInc | — | n/a · currency | 4.0 | 6 | ||
| 1299 | AIA Group | 72.80 | 6.94* | ResInc | — | n/a · currency | 2.0 | 5 | ||
| 0005 H | HSBC HDGS(USD0.50) HK O'SEAS | 149.50 | 13.83* | ResInc | — | n/a · currency | 6.0 | 5 |
How to read this table
- Ticker · H
- The exchange symbol; an H pill marks a name this book currently holds.
- Close
- The latest settled market price — what the stock costs today.
- FV/sh (fair value per share)
- Our estimate of what one share is intrinsically worth, from the company's own earnings power and cash flow — a slow-moving anchor refreshed with quarterly results, deliberately independent of the day's price action.
- Method
- How that fair value was computed: EPV (earnings power value — what steady current earnings are worth, assuming no growth), DCF (discounted cash flow — future cash flows brought back to today's dollars), or Bank (residual income — the right framework for banks, whose "cash flow" is not comparable to an industrial's).
- MoS (margin of safety)
- How far the price sits below fair value, as a percentage — the discount you get for buying today. Positive (teal) = priced below fair value; negative (red) = priced above it. The bar makes the size of the gap scannable.
- Verdict
- UNDERVALUED — price below the fair-value anchor. FAIR — above the anchor but still below the growth-inclusive DCF value. GROWTH PRICED IN — the price already assumes the optimistic growth case plays out. OVERVALUED VS RI — a bank trading above its residual-income value. When no verdict applies, the pill says why: n/a · currency — the listing trades in a different currency than the company reports in (typically an ADR: the price is USD per depositary share, the statements aren't), so price and fair value can't honestly be compared and the MoS is withheld (the FV/sh shown* is in the reporting currency); n/a · ETF — a fund holds other assets, so company-earnings frameworks don't apply; n/a · no data — not enough fundamentals to compute a fair value. n/a rows carry no valuation force downstream.
- Quality
- The name's rank within this book on a composite of five quality measures: return on invested capital, gross profitability, free-cash-flow yield, revenue growth, and the F-Score. Earlier letters = higher quality.
- F (Piotroski F-Score)
- A 0–9 checklist of accounting health — profitability, improving balance sheet, operating efficiency. 7–9 is strong; below 4 is a warning.
How valuation is used
Valuation re-ranks and resizes technical buy candidates by a bounded amount and can amplify a signal-based sell — it never originates a trade on its own. A richly priced name that is trending is not a sell case; a cheap one with no signal is not a buy case. n/a rows (ETFs, currency mismatches) carry no valuation force.