In Construction Holdings Ltd (1500) fair value: what the stock is really worth
As of Nov 3, 2026: fair value (intrinsic value) of In Construction Holdings Ltd stock HK$0.65, price HK$0.54, upside +20.4%, quality 83 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.
How to read this chart
60‑month range HK$0.0492 – HK$0.5400 · fair‑value band HK$0.5900 – HK$0.9000 · the HK$0.5400 price screens below the HK$0.6500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Oct 30, 2026.
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In Construction Holdings Limited, an investment holding company, operates as a contractor in the foundation industry in Hong Kong. The company undertakes foundation and related works, including demolition, site formation, ground investigation field, and general building works.
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It is also involved in construction and engineering activities. The company serves the building and construction industries. In Construction Holdings Limited was founded in 1996 and is headquartered in Causeway Bay, Hong Kong.
Stock analysis
In Construction Holdings Ltd (1500) currently trades at HK$0.5400, while our model-based Fair Value estimate is HK$0.6500, implying the stock looks roughly 16.9% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$1.25 per share, and 16 of the 21 models we run sit above the HK$0.5400 price.
Bear case: the Asset-Based group reads lowest at HK$0.3700, and 5 of the 21 models stay below the price. Data coverage for this calculation is low.
Scenario range: HK$0.5900 (bear) to HK$0.9000 (bull), the price of HK$0.5400 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 83/100 (high quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
In Construction Holdings Ltd reported revenue of HK$341M in FY2026 versus HK$462M in FY2022, a compound −7.3%/yr. Reported net income was HK$64.8M in FY2026, compounding +1.0%/yr from FY2022.
Key figures
Market cap HK$448M (≈ $57.1M) Micro · P/E ratio 6.2 · P/S ratio 1.18 · EPS (TTM) HK$0.0300 · Net margin 19.0% · Return on equity 23.6% · Return on assets (EBIT) 4.4% · Operating margin 24.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 79 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 778% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −32% fair-value upside, at 20%, 1500 screens cheaper than that median.
Fair Value models
BearHK$0.5900Fair Value HK$0.6500BullHK$0.9000
Price HK$0.5400 · Upside +20.4%
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. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (HK$0.0178 per share) are deliberately not added.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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+24.5%
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.
+0.8%
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.
−2.1%
Start year 2021 (pandemic). Over 10 years: −3.7% a year
Revenue growth 14 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.
−0.5%
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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.
≈ +17.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +17.7%
Dividend (yield on the price)0.0%
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: 17.7% / −3.7%
Profit margin 2021 to 2026 ⓘ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.8% → 20%
⚠ Revenue per share shrinking 3.8%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2021 (starting value 0.035 per share, median 0.070 in 2016 to 2019). It measures the recovery from the trough, not lasting growth.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+9.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +7.6% a year for the price.
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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.Engineering & Construction · 787 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score83 · Top 25%
Fair Value upside+31.3% · Above median
Profitability
Return on equity (12 months)23.6% · Top 25%
Return on assets16.3% · Top 25%
Net margin (12 months)19.0% · Top 25%
Operating margin (12 months)24.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)20.6% · Above median
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "In Construction Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1500
Frequently asked questions
Is In Construction Holdings Ltd (1500) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of HK$0.6500 versus a price of HK$0.5400, about +20% upside (undervalued).
What is the fair value of 1500?
Our model-based fair value for In Construction Holdings Ltd is HK$0.6500 (as of Oct 30, 2026), built from audited fundamentals. The current price: HK$0.5400.
What is the quality score of 1500?
In Construction Holdings Ltd has a Quality Score of 83/100. 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 In Construction Holdings Ltd (1500)?
Our model-based price target is the fair value of HK$0.6500 (as of Oct 30, 2026) from 21 valuation models. Cautious scenario HK$0.5900, optimistic scenario HK$0.9000. It is a calculation from audited fundamentals, not an analyst target.
What is the In Construction Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.6500, about +20% upside versus a price of HK$0.5400 (undervalued). Cautious scenario HK$0.5900, optimistic scenario HK$0.9000. The calculation is refreshed regularly with new filings.
What is the revenue of In Construction Holdings Ltd (1500)?
In Construction Holdings Ltd reported trailing-twelve-month revenue of about HK$341M (latest available figure, as of Oct 30, 2026).
What growth is priced into In Construction Holdings Ltd (1500)?
For today's price to be fair in a discounted-cash-flow model, In Construction Holdings Ltd would have to grow free cash flow by +9.9 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.1 % per year. As of Oct 30, 2026.
What discount rate (WACC) does the fair value of 1500 use?
Our models discount In Construction Holdings Ltd at 13.3 %: a base by market capitalisation (micro), 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 In Construction Holdings Ltd that is +9.9 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has In Construction Holdings Ltd (1500) delivered so far?
Over the past 5 years revenue at In Construction Holdings Ltd grew -2.1 % a year. The price currently implies +9.9 % per year free-cash-flow growth a 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 In Construction Holdings Ltd (1500) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into In Construction Holdings Ltd (+9.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of In Construction Holdings Ltd (1500)?
The free-cash-flow yield on the price is 5.98 %: that much free cash flow In Construction Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of In Construction Holdings Ltd (1500)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For In Construction Holdings Ltd it is HK$0.6500 per share (as of Oct 30, 2026), against a price of HK$0.5400. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is In Construction Holdings Ltd stock overvalued or undervalued in 2026?
As of Oct 30, 2026, 1500 trades below its calculated fair value: price HK$0.5400, fair value HK$0.6500, a gap of about +20% (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 1500?
No. The price is what the market pays today (HK$0.5400); the fair value is what the company's own numbers justify (HK$0.6500). For In Construction Holdings Ltd the two are HK$0.1100 per share apart. That gap is exactly why we show both numbers side by side.
How much is In Construction Holdings Ltd worth?
The market values In Construction Holdings Ltd at about HK$448M (market capitalisation, as of Oct 30, 2026). Per share that is HK$0.5400; our models calculate a fair value of HK$0.6500 per share.
What do the bullish and bearish scenarios say about 1500?
Our models span a range for In Construction Holdings Ltd: cautious scenario HK$0.5900, base HK$0.6500, optimistic HK$0.9000 per share (as of Oct 30, 2026, price HK$0.5400). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1500?
In Construction Holdings Ltd trades at a price-to-earnings ratio of 6.2 (as of Oct 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.6500 is built from several models across several years. Other multiples: P/B 1.5, P/S 1.4, EV/EBITDA 5.6.
How solid is the balance sheet of In Construction Holdings Ltd (1500)?
Balance-sheet figures for In Construction Holdings Ltd (as of Oct 30, 2026): return on equity 23.6%. They feed the Quality Score of 83/100, which measures business quality independently of the share price.
How far is 1500 from its 52-week high?
In Construction Holdings Ltd trades at HK$0.5400, at its 52-week high of HK$0.5400 and 778% above the low of HK$0.0615 (as of Nov 3, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.6500 is for.
Which stocks are comparable to In Construction Holdings Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 In Construction Holdings Ltd stock attractive at the current price?
The data as of Oct 30, 2026: price HK$0.5400, calculated fair value HK$0.6500 (+20%), Quality Score 83/100, from 21 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 1500 calculated?
We run In Construction Holdings Ltd through 21 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.6500, 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 15.2 % above its aggregate fair value. In Construction Holdings Ltd currently trades 17 % 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 In Construction Holdings Ltd (1500)?
The closing price on Nov 3, 2026 was HK$0.5400. Our model-based fair value is HK$0.6500, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with In Construction Holdings Ltd right now?
The price is below even our cautious bear case (HK$0.5900). The market is more pessimistic than our downside scenario. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of In Construction Holdings Ltd
How large is the market capitalisation of In Construction Holdings Ltd (1500)?
The market capitalisation of In Construction Holdings Ltd is HK$448M (≈ $57.1M). 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 In Construction Holdings Ltd (1500)?
The price-to-sales ratio of In Construction Holdings Ltd is 1.18 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of In Construction Holdings Ltd (1500)?
Earnings per share at In Construction Holdings Ltd are HK$0.0300 (price ÷ EPS = P/E 6.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of In Construction Holdings Ltd (1500)?
The net margin of In Construction Holdings Ltd is 19.0% (fiscal year 2026). 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 In Construction Holdings Ltd (1500)?
The return on equity (ROE) of In Construction Holdings Ltd is 23.6% (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 In Construction Holdings Ltd (1500)?
On an EBIT basis the return on assets of In Construction Holdings Ltd is 4.4% (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 In Construction Holdings Ltd (1500)?
The operating margin of In Construction Holdings Ltd is 24.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at In Construction Holdings Ltd (1500)?
Revenue at In Construction Holdings Ltd is growing +20.6% versus a year earlier (3y avg +0.8%). 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 In Construction Holdings Ltd (1500)?
Earnings per share at In Construction Holdings Ltd are growing +268% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does In Construction Holdings Ltd (1500) hold?
In Construction Holdings Ltd holds more cash than debt, HK$87.1M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 30, 2026