Wing On Co International Ltd (0289) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Wing On Co International Ltd stock HK$14.85, price HK$12.46, upside +19.2%, quality 65 out of 100. Rating: undervalued. Calculated from audited financials with 13 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 8, 2026.
How to read this chart
60‑month range HK$9.42 – HK$14.80 · fair‑value band HK$13.09 – HK$16.64 · the HK$12.46 price screens below the HK$14.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Wing On Company International Limited operates department stores in Hong Kong, Australia, and the United States. The company operates through Department Stores and Property Investment segments.
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Its department stores offer electrical appliances, kitchen and dining, bedding and bath, home sundries, grocery, personal care, travel and accessories, children and babies, toys, men's wear, women's' wear, active, shoes and handbags, umbrellas, and cosmetics products.
The company also leases commercial premises. In addition, it offers securities trading, property management, and computer services. Further, the company owns trademarks; and acts as a trustee for investment trusts. It also sells its products online.
The company was founded in 1907 and is based in Central, Hong Kong. Wing On Company International Limited operates as a subsidiary of Wing On International Holdings Limited.
Stock analysis
Wing On Co International Ltd (0289) currently trades at HK$12.46, while our model-based Fair Value estimate is HK$14.85, implying the stock looks roughly 16% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of HK$16.22 per share, and 9 of the 13 models we run sit above the HK$12.46 price.
Bear case: the Earnings-Based group reads lowest at HK$11.19, and 4 of the 13 models stay below the price. Data coverage for this calculation is medium.
Scenario range: HK$13.09 (bear) to HK$16.64 (bull), the price of HK$12.46 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 65/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Spin-off in 2005: revenue and profit before it include the divested business. Growth is measured afresh from 2005.
Wing On Co International Ltd reported revenue of HK$852M in FY2025 versus HK$1.1B in FY2021, a compound −6.8%/yr. Reported net income was −HK$330M in FY2025.
Key figures
Market cap HK$3.6B (≈ $458M) Small · P/S ratio 4.18 · Dividend yield 7.9% · Net margin −38.8% · Return on equity −1.6% · Return on assets (EBIT) 1.9% (5-year average) · Operating margin 17.2% · Revenue (TTM) HK$870M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (medium confidence).
What moves the price
The share trades about 16% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 19%, 0289 screens cheaper than that median.
Fair Value models
BearHK$13.09Fair Value HK$14.85BullHK$16.64
Price HK$12.46 · Upside +19.2%
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.55/100
Spin-off in 2005: revenue and profit before it include the divested business. Growth is measured afresh from 2005.
Revenue growth 1 year
−10.0%
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.
−6.5%
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.
−6.4%
Start year 2020 (pandemic). Over 10 years: −7.6% a year
Revenue growth 20 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.
−1.1%
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Profit margin (trend) ⓘ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.
47.0% (2019) → 16.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
Compare Wing On Co International 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.Department Stores · 107 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+19.2% · Above median
Profitability
Return on assets−1.9% · Bottom 25%
Net margin (12 months)−31.2% · Bottom 25%
Operating margin (12 months)17.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)3.5% · Above median
Dividend yield (12 months)7.9% · Top 25%
Valuation Multiplesvs Department Stores median · lower = cheaper
P/B0.22× · Cheapest 25%
P/S (12 months)4.13× · Priciest 25%
Price / free cash flow (fiscal year)19.7× · Pricier than median
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). "Wing On Co International Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0289
Frequently asked questions
Is Wing On Co International Ltd (0289) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of HK$14.85 versus a price of HK$12.46, about +19% upside (undervalued).
What is the fair value of 0289?
Our model-based fair value for Wing On Co International Ltd is HK$14.85 (as of Nov 8, 2026), built from audited fundamentals. The current price: HK$12.46.
What is the quality score of 0289?
Wing On Co International Ltd has a Quality Score of 65/100. 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 Wing On Co International Ltd (0289)?
Our model-based price target is the fair value of HK$14.85 (as of Nov 8, 2026) from 13 valuation models. Cautious scenario HK$13.09, optimistic scenario HK$16.64. It is a calculation from audited fundamentals, not an analyst target.
What is the Wing On Co International Ltd stock forecast for 2026?
Our models put fair value at HK$14.85, about +19% upside versus a price of HK$12.46 (undervalued). Cautious scenario HK$13.09, optimistic scenario HK$16.64. The calculation is refreshed regularly with new filings.
What is the revenue of Wing On Co International Ltd (0289)?
Wing On Co International Ltd reported trailing-twelve-month revenue of about HK$870M (latest available figure, as of Nov 8, 2026).
Does Wing On Co International Ltd pay a dividend?
Wing On Co International Ltd currently shows a dividend yield of 7.95% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Wing On Co International Ltd (0289) and when is the ex-dividend date?
Wing On Co International Ltd pays a dividend of HK$0.99 per share a year, a dividend yield of 7.9%. The last ex-dividend date was Sep 30, 2026. A dividend has been paid every year since 1999. Free cash flow covers the dividend 0.64 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 growth is priced into Wing On Co International Ltd (0289)?
For today's price to be fair in a discounted-cash-flow model, Wing On Co International Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.4 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 0289 use?
Our models discount Wing On Co International Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.36, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Wing On Co International Ltd that is less than minus 40 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Wing On Co International Ltd (0289) delivered so far?
Over the past 5 years revenue at Wing On Co International Ltd grew -6.4 % a year. The price currently implies free-cash-flow growth of less than minus 40 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Wing On Co International Ltd (0289) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Wing On Co International Ltd (less than minus 40 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Wing On Co International Ltd (0289)?
The free-cash-flow yield on the price is 5.09 %: that much free cash flow Wing On Co International Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Wing On Co International Ltd (0289)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wing On Co International Ltd it is HK$14.85 per share (as of Nov 8, 2026), against a price of HK$12.46. It is the blended result of 13 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Wing On Co International Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 0289 trades below its calculated fair value: price HK$12.46, fair value HK$14.85, a gap of about +19% (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 0289?
No. The price is what the market pays today (HK$12.46); the fair value is what the company's own numbers justify (HK$14.85). For Wing On Co International Ltd the two are HK$2.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wing On Co International Ltd worth?
The market values Wing On Co International Ltd at about HK$3.6B (market capitalisation, as of Nov 8, 2026). Per share that is HK$12.46; our models calculate a fair value of HK$14.85 per share.
What do the bullish and bearish scenarios say about 0289?
Our models span a range for Wing On Co International Ltd: cautious scenario HK$13.09, base HK$14.85, optimistic HK$16.64 per share (as of Nov 8, 2026, price HK$12.46). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 0289?
The PEG ratio of Wing On Co International Ltd is 5.86 (P/E divided by earnings growth, as of Nov 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Wing On Co International Ltd (0289)?
Balance-sheet figures for Wing On Co International Ltd (as of Nov 8, 2026): return on equity −1.6%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 0289 from its 52-week high?
Wing On Co International Ltd trades at HK$12.46, about 16% below its 52-week high of HK$14.80 and 1% above the low of HK$12.35 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of HK$14.85 is for.
Which stocks are comparable to Wing On Co International Ltd?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Macy's, Inc, 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 Wing On Co International Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price HK$12.46, calculated fair value HK$14.85 (+19%), Quality Score 65/100, from 13 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 0289 calculated?
We run Wing On Co International Ltd through 13 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of HK$14.85 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 13.3% above its aggregate fair value. Wing On Co International Ltd currently trades 16% 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 Wing On Co International Ltd (0289)?
The closing price on Nov 6, 2026 was HK$12.46. Our model-based fair value is HK$14.85, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wing On Co International Ltd right now?
The price is below even our cautious bear case (HK$13.09). The market is more pessimistic than our downside scenario. The price sits below our cautious bear case: the market assumes less than even our pessimistic scenario. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Wing On Co International Ltd
How large is the market capitalisation of Wing On Co International Ltd (0289)?
The market capitalisation of Wing On Co International Ltd is HK$3.6B (≈ $458M). 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 Wing On Co International Ltd (0289)?
The price-to-sales ratio of Wing On Co International Ltd is 4.18 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Wing On Co International Ltd (0289)?
The dividend yield of Wing On Co International Ltd is 7.9%. 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 Wing On Co International Ltd (0289)?
The net margin of Wing On Co International Ltd is −38.8% (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 Wing On Co International Ltd (0289)?
The return on equity (ROE) of Wing On Co International Ltd is −1.6% (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 Wing On Co International Ltd (0289)?
On an EBIT basis the return on assets of Wing On Co International Ltd is 1.9% (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 Wing On Co International Ltd (0289)?
The operating margin of Wing On Co International Ltd is 17.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wing On Co International Ltd (0289)?
Revenue at Wing On Co International Ltd is growing +3.5% versus a year earlier (3y avg −6.5%). 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 Wing On Co International Ltd (0289)?
Earnings per share at Wing On Co International Ltd are growing −78.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Wing On Co International Ltd (0289) hold?
Wing On Co International Ltd holds more cash than debt, HK$2.2B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 8, 2026