Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
China Bills FinanceTPE:2820 62 Median PS Value is NT$20.41 as of Jul. 15, 2026, which is 100% below its 10-year median of 0.98. GuruFocus rates TPE:2820 with a GF Score™ of 62/100 and a GF Value™ of NT$24.44 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 392 Capital Markets companies, China Bills Finance ranks better than 69.64% on this metric.
This valuation method assumes that the stock valuation will revert to its historical (10-Year) median in terms of PS Ratio. The reason we use PS Ratio instead of PE Ratio or PB Ratio is because PS Ratio is independent of profit margin, and can be applied to a broader range of situations.
The historical rank and industry rank for China Bills Finance's Median PS Value or its related term are showing as below:
TPE:2820'
s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.82 Med: 0.98 Max: 1.36
Current: 0.82
During the past 13 years, the highest Price to Median PS Value of China Bills Finance was 1.36. The lowest was 0.82. And the median was 0.98.
TPE:2820's Price-to-Median-PS-Value is ranked better than 69.64% of 392
companies
in the Capital Markets industry
Industry Median: 1.045
vs TPE:2820: 0.82
China Bills Finance (TPE:2820) Median PS Value Explanation
This valuation method assumes that the stock valuation will revert to its historical (10-Year) mean in terms of PS Ratio. The reason we use PS Ratio instead of PE Ratio or PB Ratio
is because PS Ratio is independent of profit margin, and can be applied to a broader range of situations.
It also assumes that over time the profit margin is constant. If a company increases its profit margin to a sustainable level, this value might under-estimate its value. If it has permanent declined profit margins, this may over-estimate the company's value.
China Bills Finance's Price to Median PS Value for today is calculated as
Price to Median PS Value
=
Share Price
/
Median PS Value
=
16.65
/
20.41
=
0.82
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
China Bills Finance Median PS Value Related Terms
China Bills Finance Median PS Value Historical Data
* Premium members only.
The historical data trend for China Bills Finance's Median PS Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TPE:2820 vs MS, GS, SCHW: Median PS Value Comparison
For the Capital Markets subindustry, China Bills Finance's Price-to-Median-PS-Value, along with its competitors' market caps and Price-to-Median-PS-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
China Bills Finance Price-to-Median-PS-Value vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, China Bills Finance's Price-to-Median-PS-Value distribution charts can be found below:
* The bar in red indicates where China Bills Finance's Price-to-Median-PS-Value falls into.
10-Year Median PS Ratio is 9.2562.
China Bills Finance's Revenue per Share for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$2.205.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
China Bills Finance (TPE:2820) has a Median PS Value of NT$20.41 as of Jul. 15, 2026. Median price-sales value is the stock value based on a company's 10-year median price-sales ratio, View historical data on China Bills Finance and its competitors. This is 1983% above median its historical median of 0.98. Over the past decade, China Bills Finance's Median PS Value has ranged from 0.82 to 1.36. According to the industry distribution chart, China Bills Finance ranks #119 out of 392 companies in the Capital Markets industry, placing it in the top 30.4%.
Is China Bills Finance's Median PS Value too high?
China Bills Finance's current Median PS Value of NT$20.41 is 1983% above median its 10-year median of 0.98. Over the past 10 years, this metric has ranged from a low of 0.82 to a high of 1.36. Based on the distribution chart, China Bills Finance ranks #119 out of 392 companies in the Capital Markets industry, which is above the industry midpoint. Overall, China Bills Finance has a GF Score™ of 62/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Bills Finance's Median PS Value compare to MS and GS?
According to the Capital Markets industry distribution chart, China Bills Finance ranks #119 out of 392 companies for Median PS Value. This puts China Bills Finance in the upper half of its industry. The industry median Median PS Value is 1.05. Historically, China Bills Finance's own Median PS Value has ranged from 0.82 to 1.36 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Median PS Value for a Capital Markets company?
The median Median PS Value among Capital Markets companies is 1.05, based on 392 companies in the industry. Companies in the top quartile (top 25%) have a Median PS Value significantly above this median, while those in the bottom quartile fall well below. However, Median PS Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Median PS Value mean?
A high Median PS Value can signal that a stock is expensive relative to its fundamentals. Median price-sales value is the stock value based on a company's 10-year median price-sales ratio, View historical data on China Bills Finance and its competitors. For the Capital Markets industry, the median Median PS Value is 1.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Bills Finance's current Median PS Value is NT$20.41, which is 1983% above median its own 10-year median of 0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Bills Finance stock overvalued right now?
Based on GuruFocus' analysis, China Bills Finance (TPE:2820) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$24.44, compared to a current price of NT$16.65 — trading 31.9% below its estimated fair value. The current Median PS Value is NT$20.41, which is 1983% above median its 10-year median of 0.98. China Bills Finance's overall GF Score™ is 62/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Median PS Value calculated?
Median PS Value is calculated from a company's financial statements. For China Bills Finance (TPE:2820), the current Median PS Value is NT$20.41 as of Jul. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is China Bills Finance (TPE:2820) Overvalued in 2026?
Based on GuruFocus' analysis, China Bills Finance stock appears to be undervalued.
The current stock price of NT$16.65 is trading 31.9% below its estimated GF Value™ of NT$24.44.
GuruFocus considers China Bills Finance to be Significantly Undervalued.
Key valuation signals for TPE:2820:
Median PS Value: NT$20.41 (1983% above median its 10-year median of 0.98)
GF Value™: NT$24.44 vs. price of NT$16.65 (31.9% below fair value)
No single metric tells the full story. See the TPE:2820 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Bills Finance Corp focuses on corporate financing and fixed-income commodities. The company's business activities consist of certifying and underwriting of short-term bills and bank debentures; brokering or undertaking proprietary trading of short-term bills, bank debentures, government and corporate bonds, and foreign bonds; guaranteeing short-term bills; providing financial consulting services to enterprises; processing interbank call loans; equity investments; fixed-income security trading; (h) foreign-currency bills investment; and doing other businesses as authorized by relevant authorities. Its business is concentrated in Taiwan.
62GF Score
Get the complete analysis for TPE:2820
Median PS Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:2820 has been successfully added to your 
