Keck Seng Investments Hong Kong Ltd (0184) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Keck Seng Investments Hong Kong Ltd stock HK$6.56, price HK$2.26, upside +190.3%, quality 47 out of 100. Rating: strongly undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range HK$1.54 – HK$4.07 · fair‑value band HK$4.82 – HK$8.95 · the HK$2.26 price screens below the HK$6.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Keck Seng Investments (Hong Kong) Limited, an investment holding company, engages in hotel and club operations, and property investment, development, and management activities in Macau, Vietnam, the People's Republic of China, Japan, Canada, the United States, and Hong Kong.
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It operates through three segments: Hotel; Property; and Investment and Corporate. The Hotel segment offers hotel room accommodation services; and food and beverages at hotel restaurant outlets, as well as operates slot machines.
The Property segment leases investment properties, which primarily consist of retail, commercial, and office properties; and develops, markets, and sells trading properties. Keck Seng Investments (Hong Kong) Limited was incorporated in 1973 and is based in Central, Hong Kong.
Stock analysis
Keck Seng Investments Hong Kong Ltd (0184) currently trades at HK$2.26, while our model-based Fair Value estimate is HK$6.56, implying the stock looks roughly 66% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$14.67 per share, and 22 of the 25 models we run sit above the HK$2.26 price.
Bear case: the Asset-Based group reads lowest at HK$0.7700, and 3 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: HK$4.82 (bear) to HK$8.95 (bull), the price of HK$2.26 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Keck Seng Investments Hong Kong Ltd reported revenue of HK$1.6B in FY2025 versus HK$483M in FY2021, a compound +35.3%/yr. Reported net income was HK$257M in FY2025.
Key figures
Market cap HK$769M (≈ $98.1M) Micro · P/E ratio 2.5 · P/S ratio 0.40 · Dividend yield 5.5% · Net margin 15.9% · Return on equity 10.1% · Return on assets (EBIT) 3.2% (5-year average) · Operating margin 13.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −27% fair-value upside, at 190%, 0184 screens cheaper than that median.
Fair Value models
BearHK$4.82Fair Value HK$6.56BullHK$8.95
Price HK$2.26 · Upside +190.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−4.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.2%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+19.4%
Start year 2020 (pandemic). Over 10 years: −1.8% a year
Revenue growth 24 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+8.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +47.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +41.7%
Dividend (yield on the price)5.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 41.7% / 1.2%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−57% → 11%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.13 per share, median 0.62 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
Compare Keck Seng Investments Hong Kong Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Lodging · 159 stocks
Beats the industry median on 11/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside+190.3% · Top 25%
Profitability
Return on equity (12 months)10.1% · Above median
Return on assets5.6% · Top 25%
Net margin (12 months)22.3% · Top 25%
Operating margin (12 months)13.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)19.6% · Top 25%
Dividend yield (12 months)5.5% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Lodging median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Keck Seng Investments Hong Kong Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0184
Frequently asked questions
Is Keck Seng Investments Hong Kong Ltd (0184) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of HK$6.56 versus a price of HK$2.26, about +190% upside (undervalued).
What is the fair value of 0184?
Our model-based fair value for Keck Seng Investments Hong Kong Ltd is HK$6.56 (as of Nov 6, 2026), built from audited fundamentals. The current price: HK$2.26.
What is the quality score of 0184?
Keck Seng Investments Hong Kong Ltd has a Quality Score of 47/100. 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 price target for Keck Seng Investments Hong Kong Ltd (0184)?
Our model-based price target is the fair value of HK$6.56 (as of Nov 6, 2026) from 25 valuation models. Cautious scenario HK$4.82, optimistic scenario HK$8.95. It is a calculation from audited fundamentals, not an analyst target.
What is the Keck Seng Investments Hong Kong Ltd stock forecast for 2026?
Our models put fair value at HK$6.56, about +190% upside versus a price of HK$2.26 (undervalued). Cautious scenario HK$4.82, optimistic scenario HK$8.95. The calculation is refreshed regularly with new filings.
What is the revenue of Keck Seng Investments Hong Kong Ltd (0184)?
Keck Seng Investments Hong Kong Ltd reported trailing-twelve-month revenue of about HK$1.8B (latest available figure, as of Nov 6, 2026).
Does Keck Seng Investments Hong Kong Ltd pay a dividend?
Keck Seng Investments Hong Kong Ltd currently shows a dividend yield of 5.53% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Keck Seng Investments Hong Kong Ltd (0184) and when is the ex-dividend date?
Keck Seng Investments Hong Kong Ltd pays a dividend of HK$0.125 per share a year, a dividend yield of 5.5%. The last ex-dividend date was Oct 9, 2026. A dividend has been paid every year since 2022. The payout ratio is 16.5% of earnings. Free cash flow covers the dividend 0.00 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Keck Seng Investments Hong Kong Ltd (0184)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Keck Seng Investments Hong Kong Ltd it is HK$6.56 per share (as of Nov 6, 2026), against a price of HK$2.26. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Keck Seng Investments Hong Kong Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 0184 trades below its calculated fair value: price HK$2.26, fair value HK$6.56, a gap of about +190% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0184?
No. The price is what the market pays today (HK$2.26); the fair value is what the company's own numbers justify (HK$6.56). For Keck Seng Investments Hong Kong Ltd the two are HK$4.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is Keck Seng Investments Hong Kong Ltd worth?
The market values Keck Seng Investments Hong Kong Ltd at about HK$769M (market capitalisation, as of Nov 6, 2026). Per share that is HK$2.26; our models calculate a fair value of HK$6.56 per share.
What do the bullish and bearish scenarios say about 0184?
Our models span a range for Keck Seng Investments Hong Kong Ltd: cautious scenario HK$4.82, base HK$6.56, optimistic HK$8.95 per share (as of Nov 6, 2026, price HK$2.26). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0184?
Keck Seng Investments Hong Kong Ltd trades at a price-to-earnings ratio of 2.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$6.56 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 8.5. Other multiples: P/B 0.2, P/S 0.6.
How solid is the balance sheet of Keck Seng Investments Hong Kong Ltd (0184)?
Balance-sheet figures for Keck Seng Investments Hong Kong Ltd (as of Nov 6, 2026): return on equity 10.1%, debt of 0.04 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 0184 from its 52-week high?
Keck Seng Investments Hong Kong Ltd trades at HK$2.26, about 6% below its 52-week high of HK$2.39 and 14% above the low of HK$1.98 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of HK$6.56 is for.
Which stocks are comparable to Keck Seng Investments Hong Kong Ltd?
From the same area (Consumer Cyclical) we also value Marriott International, Inc, Hilton Worldwide Holdings, Hyatt Hotels Corporation, H World Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Keck Seng Investments Hong Kong Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price HK$2.26, calculated fair value HK$6.56 (+190%), Quality Score 47/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0184 calculated?
We run Keck Seng Investments Hong Kong Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$6.56 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Keck Seng Investments Hong Kong Ltd currently trades 66% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Keck Seng Investments Hong Kong Ltd (0184)?
The closing price on Nov 6, 2026 was HK$2.26. Our model-based fair value is HK$6.56, about +190% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Keck Seng Investments Hong Kong Ltd right now?
The large discount to fair value meets weak quality (47/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$4.82). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$4.82 to HK$8.95) leaves room in how you read the outcome.
Where does the earnings growth of Keck Seng Investments Hong Kong Ltd (0184) come from?
Earnings per share at Keck Seng Investments Hong Kong Ltd grew +0.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.8 %, EBIT margin −1.4 %, tax rate +0.9 %, residual (interest, one-offs) +1.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Keck Seng Investments Hong Kong Ltd
How large is the market capitalisation of Keck Seng Investments Hong Kong Ltd (0184)?
The market capitalisation of Keck Seng Investments Hong Kong Ltd is HK$769M (≈ $98.1M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Keck Seng Investments Hong Kong Ltd (0184)?
The price-to-sales ratio of Keck Seng Investments Hong Kong Ltd is 0.40 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Keck Seng Investments Hong Kong Ltd (0184)?
The dividend yield of Keck Seng Investments Hong Kong Ltd is 5.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Keck Seng Investments Hong Kong Ltd (0184)?
The net margin of Keck Seng Investments Hong Kong Ltd is 15.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Keck Seng Investments Hong Kong Ltd (0184)?
The return on equity (ROE) of Keck Seng Investments Hong Kong Ltd is 10.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Keck Seng Investments Hong Kong Ltd (0184)?
On an EBIT basis the return on assets of Keck Seng Investments Hong Kong Ltd is 3.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Keck Seng Investments Hong Kong Ltd (0184)?
The operating margin of Keck Seng Investments Hong Kong Ltd is 13.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Keck Seng Investments Hong Kong Ltd (0184)?
Revenue at Keck Seng Investments Hong Kong Ltd is growing +19.6% versus a year earlier (3y avg +4.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Keck Seng Investments Hong Kong Ltd (0184)?
Earnings per share at Keck Seng Investments Hong Kong Ltd are growing +388% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Keck Seng Investments Hong Kong Ltd (0184) generate?
The free cash flow of Keck Seng Investments Hong Kong Ltd is HK$92.0K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Keck Seng Investments Hong Kong Ltd (0184) hold?
Keck Seng Investments Hong Kong Ltd holds more cash than debt, HK$169M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 6, 2026