002673.SHE Western Securities Co Ltd
- Market cap
- CNY 26.8B
- P/E
- 15.8x
- P/B
- 0.87x
- ROE
- 5.1%
- Dividend yield
- 4.14%
- Fundamental score
- -
Ratios use the latest price and the current fiscal year annualized from 3 quarters up to Sep 2026.
Is 002673.SHE undervalued?
Graham number002673.SHE trades 21.8% below its Graham number.
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Western Securities Co Ltd fundamental analysis
No fundamental analysis for Western Securities Co Ltd yet.
Western Securities Co Ltd stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Western Securities Co Ltd
Western Securities Co.,Ltd. engages in brokerage, proprietary, investment banking, asset management, and credit trading businesses in China. It provides securities brokerage; securities investment; alternative securities investment; securities sponsorship, underwriting, and consulting; margin trading and repurchase transaction financing; entrusted asset management; private asset management; fund management; research and consulting; and bulk commodity trading services. The co…
Full company profileWestern Securities Co Ltd financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 3 quarters up to Sep 30, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Western Securities Co Ltd annual financial statements (CNY; K = thousand, M = million, B = billion, T = trillion)
| Item | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Anlz |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 3.40B | 3.17B | 2.24B | 4.31B | 5.75B | 7.56B | 6.52B | 8.17B | 7.84B | 5.98B | 6.31B |
| Gross Profit | 3.40B | 3.17B | 2.24B | 3.70B | 5.18B | 6.74B | 5.31B | 6.89B | 6.71B | 5.98B | - |
| Operating Income | 1.47B | 984M | 245M | 747M | 1.51B | 1.88B | 586M | 1.53B | 1.74B | 2.27B | - |
| EBITDA | 1.52B | 1.04B | 317M | 822M | 1.58B | 2.06B | 803M | 1.75B | - | 2.27B | - |
| Net Income | 1.12B | 752M | 200M | 610M | 1.12B | 1.41B | 431M | 1.17B | 1.40B | 1.75B | 1.56B |
| EPS | 0.40 | 0.23 | 0.06 | 0.17 | 0.25 | 0.32 | 0.10 | 0.26 | 0.31 | 0.39 | 0.35 |
| Balance Sheet | |||||||||||
| Total Assets | 54.2B | 51.2B | 52.3B | 48.6B | 64.4B | 85.1B | 95.8B | 96.2B | 96.0B | 122B | 136B |
| Total Liabilities | 41.7B | 33.6B | 34.8B | 30.9B | 38.3B | 57.9B | 68.6B | 68.1B | 66.9B | 89.6B | 103B |
| Shareholders' Equity | 12.4B | 17.6B | 17.4B | 17.7B | 26.0B | 27.1B | 27.0B | 27.9B | 28.8B | 30.1B | 30.7B |
| Cash & Short-term Investments | 25.2B | 19.4B | 16.8B | 21.0B | 32.6B | 80.4B | 84.5B | 86.0B | 88.5B | 53.2B | 56.4B |
| Total Debt | 11.8B | 6.30B | 4.55B | 3.80B | 9.11B | 18.7B | 25.3B | 23.2B | 24.0B | - | - |
| Cash Flow | |||||||||||
| Operating Cash Flow | -5.24B | -4.45B | 3.17B | 3.00B | -1.14B | -13.7B | -4.75B | 251M | 12.1B | 2.22B | -5.28B |
| Capital Expenditure | 71.5M | 212M | 59.1M | 89.2M | 109M | 198M | 198M | 231M | 192M | 149M | 158M |
| Free Cash Flow | -5.31B | -4.67B | 3.11B | 2.91B | -1.25B | -13.9B | -4.94B | 19.5M | 11.9B | 2.07B | -5.43B |
| Ratios | |||||||||||
| ROE | 9.1% | 4.3% | 1.2% | 3.5% | 4.3% | 5.2% | 1.6% | 4.2% | 4.9% | 5.8% | 5.1% |
| ROA | 2.1% | 1.5% | 0.4% | 1.3% | 1.7% | 1.7% | 0.4% | 1.2% | 1.5% | 1.4% | 1.1% |
| Net Profit Margin | 33.1% | 23.7% | 8.9% | 14.1% | 19.4% | 18.6% | 6.6% | 14.3% | 17.9% | 29.3% | 24.7% |
| Debt to Equity | 0.95x | 0.36x | 0.26x | 0.22x | 0.35x | 0.69x | 0.94x | 0.83x | 0.83x | - | - |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Gross Profit
- Revenue minus the direct cost of producing what was sold.
- Operating Income
- Profit from the core business after operating expenses.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Total Debt
- Short and long-term borrowings.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- Free Cash Flow
- Operating cash flow minus capital expenditure: cash left for dividends, buybacks or debt repayment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
- Debt to Equity
- Total debt divided by shareholders' equity.
Western Securities Co Ltd dividends
- Dividend yield
- 4.14%
- Forward dividend
- 0.12 CNY
- Payout ratio
- 63.2%
- Ex-dividend date
- Oct 23, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | CNY 1.11B | 0.25 | 63.2% |
| 2024 | CNY 1.11B | 0.25 | 79.3% |
| 2023 | CNY 766M | 0.17 | 65.7% |
| 2022 | CNY 478M | 0.11 | 111.1% |
| 2021 | CNY 340M | 0.08 | 24.1% |
| 2020 | CNY 375M | 0.08 | 33.6% |
| 2019 | CNY 338M | 0.10 | 55.4% |
| 2018 | CNY 514M | 0.15 | 256.5% |
| 2017 | CNY 776M | 0.24 | 103.1% |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Last stock split: 20:10 on Jun 12, 2015.
Who owns Western Securities Co Ltd
- Insiders 48.34%
- Institutions 6.63%
- Public & others 45.03%
- Shares outstanding 4.47B
- Free float 4.46B
Western Securities Co Ltd company profile
- Company name
- Western Securities Co Ltd
- Ticker
- 002673.SHE
- ISIN
- CNE100001D96
- Exchange
- Shenzhen Stock Exchange
- Listed since
- May 3, 2012
- Sector
- Financial Services
- Industry
- Capital Markets
- Employees
- 4,688
- Fiscal year end
- December
- Address
- Building No. 8, Xi'an, China
- Phone
- 86 29 8740 6171
- Website
- westsecu.com
About Western Securities Co Ltd
Western Securities Co.,Ltd. engages in brokerage, proprietary, investment banking, asset management, and credit trading businesses in China. It provides securities brokerage; securities investment; alternative securities investment; securities sponsorship, underwriting, and consulting; margin trading and repurchase transaction financing; entrusted asset management; private asset management; fund management; research and consulting; and bulk commodity trading services. The company also engages in fixed income; and SME financing service business. Western Securities Co.,Ltd. was incorporated in 2001 and is headquartered in Xi'an, China.
Western Securities Co Ltd management
9- Mr. Bing QiGeneral Manager · born 1972
- Mr. Yongjun ZhangChief Financial Officer · born 1967
- Mr. Yuyang HuangChief Information Officer · born 1986
- Mr. Wei ChenCompliance Director & Chief Risk Officer · born 1972
- Mr. Xing YuanSecretary · born 1986
- Jian Xian YangAccounting Supervisor
- Ms. Li QuChief Legal Counsel · born 1980
- Mr. Qinghai LiuChief Strategy & Human Resources Officer · born 1981
- Mr. Ying Hua ZhaoDeputy General Manager · born 1985