Who are First Capital Securities's main competitors?

Named competitors: CITIC Securities (600030.SS), Guotai Junan Securities (601211.SS), Zheshang Securities (601878.SS), Hongta Securities (601236.SS), Industrial Securities (601377.SS), Western Securities (002673.SZ). The cockpit's measured peer set (industry) also includes Nuvama Wealth Management (NUVAMA.NS), Guotai Junan International (1788.HK), AMP (AMP.AX), Eurazeo (RF.PA), Cohen & Steers (CNS), Mandatum (MANTA.HE).

Is First Capital Securities expensive compared with its peers?

On forward p/e it trades at 21.1× against a peer median of 17.5×, 7th most expensive of 19 in its peer set.

How has First Capital Securities stock performed?

Over six months to 6 Nov 2026 the shares returned -23.7% against +2.2% for the median peer; over one year -25.5%.

← CockpitCompetitor Analysis › 002797.SZ First Capital Securities Co., Ltd. Class AOpen in the cockpit ↗

First Capital Securities Co., Ltd. Class A002797.SZCompetitor analysis, valuation and peers

China · CNY·Financials›Investment Managers

Shenzhen-based securities brokerage with a particular focus on bond underwriting alongside retail brokerage.

Momentum neutral 42

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$3.61B

US dollars, full cap

Free float

68%

of shares outstanding

$/day

$32.6M

20-day average traded

Fwd P/E

21.1×

forward earnings

ROIC−WACC

n/a

WACC 5.9%

Hurdle

n/a

no reverse DCF

Next earnings

171 days

26 Apr 2027

Close · CNYCN¥5.82

1D-1.0%

1W+5.8%

1M-3.8%

3M-12.6%

6M-23.7%

YTD-15.3%

1Y-25.5%

ATR %2.3%

52w lowhigh28.6% off high

What First Capital Securities does

Shenzhen-based securities brokerage with a particular focus on bond underwriting alongside retail brokerage.

Bond underwriting is the specialty: it earns fees for helping companies and local governments issue bonds, a business tied to issuance volumes, along with commissions from retail share trading and fees on asset management. Because fees follow issuance and trading activity, results rise and fall with credit and equity markets.

Products and services

Bond underwriting
Retail brokerage
Asset management

Customers

Corporate/government bond issuers
Retail investors

Where it sits in the supply chain

Financials
Capital markets
Securities brokerage (bond-focused)

What could go right

Bond issuance volume growth

What could go wrong

Bond-market issuance cycles
Commission-fee compression

Moat: narrow (regulatory licence). Regulated brokerage with a bond-underwriting niche, still commoditized broadly.

Headquarters: Shenzhen, Guangdong, China · Employees: 2,629

Named competitors

First Capital Securities at a glance

Size First Capital Securities (002797.SZ) is a China Financials company (Investment Managers) with a market value of $3.61B, the 711th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.82 on 6 Nov 2026.

Performance Over six months the shares fell 23.7%, against +2.2% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.

Growth Revenue fell 5.8% over the last twelve months (peer median +21.0%); the operating margin is 21.7% (peer median 32.8%).

Valuation It trades at 21.1× forward earnings against a peer median of 17.5× (7th most expensive of 19).

Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: First Capital Securities against the median of its 20 peers (local-currency closes).

First Capital Securities financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥4.09B	CN¥4.24B	CN¥4.06B	CN¥3.10B	CN¥3.08B
Revenue growth	—	+5%	+31%	+1%	—
Gross profit	CN¥3.60B	CN¥3.63B	CN¥3.52B	CN¥2.59B	CN¥2.56B
EBITDA	n/a	CN¥1.70B	CN¥1.64B	CN¥995M	CN¥964M
Net income	CN¥859M	CN¥841M	CN¥904M	CN¥331M	CN¥401M
Free cash flow	-CN¥1.16B	CN¥1.24B	CN¥3.73B	CN¥924M	CN¥1.99B
Capital expenditure	CN¥237M	CN¥181M	CN¥278M	CN¥263M	CN¥232M
Total debt	CN¥25.1B	CN¥22.4B	CN¥21.3B	CN¥20.1B	CN¥21.2B

Quarterly statements and history in the cockpit →

First Capital Securities competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. First Capital Securities is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. First Capital Securities is the large dot.

First Capital Securities competitors and peer comparison

Head to head with its named competitors (002797.SZ vs 600030.SS vs 601211.SS vs 601878.SS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
First Capital Securities 002797.SZ	$3.61B	-24%	-6%	22%	21.1×	n/a
CITIC Securities 600030.SS	$56.4B	-6%	-16%	54%	10.2×	n/a
Guotai Haitong Securities 601211.SS	$40.4B	+2%	+3%	44%	8.9×	n/a
Zheshang Securities 601878.SS	$6.03B	-10%	-4%	32%	13.0×	n/a
Hongta Securities 601236.SS	$4.72B	-11%	-4%	39%	26.8×	n/a
China Industrial Securities 601377.SS	$7.12B	-9%	-11%	29%	13.2×	n/a
Western Securities 002673.SZ	$3.83B	-14%	-2%	29%	n/a	n/a

How First Capital Securities compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

First Capital Securities against its 20 peers (data as of 6 Nov 2026)
Measure	002797.SZ	Peer median	Rank in peer set
1-month return	-3.8%	+0.3%	5th lowest of 21
6-month return	-23.7%	+2.2%	lowest of 21
Distance from 52-week high	-28.6%	-16.7%	6th lowest of 21
Revenue growth (TTM)	-5.8%	+21.0%	2nd lowest of 20
Operating margin	21.7%	32.8%	5th lowest of 20
Forward P/E	21.1×	17.5×	7th most expensive of 19

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
First Capital Securities 002797.SZ	China	$3.61B	-24%	-6%	22%	21.1×	n/a	n/a
Nuvama Wealth Management NUVAMA.NS	India	$3.61B	+25%	+13%	29%	26.2×	n/a	n/a
Guotai Junan International 1788.HK	Hong Kong	$3.58B	+10%	+43%	65%	n/a	n/a	n/a
AMP AMP.AX	Australia	$3.69B	+46%	-5%	-1%	15.7×	n/a	n/a
Eurazeo RF.PA	France	$3.70B	+2%	+18%	-2%	28.7×	n/a	n/a
Cohen & Steers CNS	United States	$3.76B	+1%	+13%	33%	20.1×	n/a	n/a
Mandatum MANTA.HE	Finland	$3.33B	-10%	+60%	8%	23.7×	n/a	n/a
Netwealth NWL.AX	Australia	$3.31B	-13%	+21%	46%	34.1×	n/a	n/a
Sealand Securities 000750.SZ	China	$3.30B	-12%	+2%	22%	n/a	n/a	n/a
Quilter QLT.L	United Kingdom	$3.30B	+5%	+191%	3%	15.0×	n/a	n/a
Tikehau Capital SCA TKO.PA	France	$3.24B	-10%	+32%	31%	10.7×	n/a	n/a
Acadian Asset Management AAMI	United States	$3.23B	+33%	+25%	27%	15.4×	n/a	n/a
Artisan Partners Asset Management APAM	United States	$3.17B	+3%	+6%	36%	10.6×	n/a	n/a
AllianceBernstein Holding L.P AB	United States	$3.14B	-13%	n/a	n/a	9.6×	n/a	n/a
Anand Rathi Wealth ANANDRATHI.NS	India	$4.18B	+31%	+35%	41%	90.5×	n/a	n/a
AJ Bell AJB.L	United Kingdom	$3.04B	+13%	+19%	42%	19.2×	n/a	n/a
China Cinda Asset Management 1359.HK	Hong Kong	$4.36B	-21%	-25%	53%	11.7×	n/a	n/a
Sprott SII.TO	Canada	$2.96B	-17%	+88%	38%	25.6×	n/a	n/a
WisdomTree WT	United States	$2.94B	+2%	+45%	40%	15.4×	n/a	n/a
Man EMG.L	United Kingdom	$4.43B	+10%	+24%	28%	8.4×	n/a	n/a
Caida Securities 600906.SS	China	$2.78B	-11%	+10%	36%	19.7×	n/a	n/a

Questions

Who are First Capital Securities's main competitors?: Named competitors: CITIC Securities (600030.SS), Guotai Junan Securities (601211.SS), Zheshang Securities (601878.SS), Hongta Securities (601236.SS), Industrial Securities (601377.SS), Western Securities (002673.SZ). The cockpit's measured peer set (industry) also includes Nuvama Wealth Management (NUVAMA.NS), Guotai Junan International (1788.HK), AMP (AMP.AX), Eurazeo (RF.PA), Cohen & Steers (CNS), Mandatum (MANTA.HE).
Is First Capital Securities expensive compared with its peers?: On forward p/e it trades at 21.1× against a peer median of 17.5×, 7th most expensive of 19 in its peer set.
How has First Capital Securities stock performed?: Over six months to 6 Nov 2026 the shares returned -23.7% against +2.2% for the median peer; over one year -25.5%.