BOC Hong Kong Holdings Ltd (2388) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of BOC Hong Kong Holdings Ltd stock HK$41.05, price HK$50.00, that is 17.9% below the price, quality 54 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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BOC Hong Kong Holdings Ltd
2388 · HKOur calculation puts a fair price 18% below what the stock costs today.
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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$15.08 – HK$53.65 · fair‑value band HK$30.79 – HK$51.31 · the HK$50.00 price screens above the HK$41.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Company profile
BOC Hong Kong (Holdings) Limited, an investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally. The company operates through four segments: Personal Banking, Corporate Banking, Treasury, and Insurance.
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It offers savings, current, and time deposit accounts, as well as monthly deposit plans; mortgage plans; corporate deposits, and payroll and e-cheque services.
The company also offers cross-border financial and remittance services; and securities, funds, foreign exchange services, precious metals and FX margin services, currency linked investments, bonds, market information services, monthly savings plans, and structured products, as well as business and personal loans.
In addition, it provides business and accident protection, medical, travel and leisure, family protection, RMB, and personal life insurance products; and credit cards.
Further, the company offers safe deposit box, e-bill, and payment services; personal and corporate RMB, and RMB clearing bank services; business comprehensive, property, liability, group, and retailer comprehensive insurance plans; small business, asset-pledge, and syndicated loans; accounts receivable, machinery and equipment, SME green, and project financing; business banking, trade finance and services, investment, treasury, corporate collection and payment, e-commerce, and card services; and custody and cash management services.
Additionally, it provides wealth management and overdraft services; mandatory provident fund schemes; and private and corporate banking services, as well as internet, phone, and mobile banking services; and trade related products and other credit facilities.
BOC Hong Kong (Holdings) Limited was founded in 1917 and is based in Central, Hong Kong. BOC Hong Kong (Holdings) Limited is a subsidiary of BOC Hong Kong (BVI) Limited.
Stock analysis
BOC Hong Kong Holdings Ltd (2388) currently trades at HK$50.00, while our model-based Fair Value estimate is HK$41.05, 18% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of HK$42.96 per share, and 0 of the 6 models we run sit above the HK$50.00 price.
Bear case: the Asset-Based group reads lowest at HK$22.56, and 6 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: HK$30.79 (bear) to HK$51.31 (bull), the price of HK$50.00 sits inside 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 54/100 (solid quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
BOC Hong Kong Holdings Ltd reported revenue of HK$68.7B in FY2025 versus HK$76.9B in FY2021, a compound −2.8%/yr. Reported net income was HK$40.1B in FY2025, compounding +13.3%/yr from FY2021.
Key figures
Market cap HK$529B (≈ $67.4B) Large · P/E ratio 12.7 · P/S ratio 7.41 · Dividend yield 4.6% · Net margin 58.4% · Return on equity 11.9% · Return on assets (EBIT) 1.0% (5-year average) · Operating margin 76.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (medium confidence).
What moves the price
The share trades about 7% below its 52-week high and 41% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −18%, 2388 screens cheaper than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
2388 screens overvalued: fair value 18% below the price. Compare with China Merchants Bank Co →
Earlier news
- BOC Hong Kong Holdings Ltd's Dividend Analysis
- BOC Hong Kong (Holdings) (SEHK:2388) Looks Fairly Valued After First Half Earnings
- BOC Hong Kong (BHKLY) Is a Great Choice for 'Trend' Investors, Here's Why
Compare BOC Hong Kong Holdings Ltd with another stock
Price, fair value, quality and upside side by side.
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.Banks - Regional · 996 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/B ratio by industry
- Net margin by industry
- Stock screener with 62 metrics
- Undervalued stocks: Hong Kong Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Postal Savings Bank of China Co 601658 | ¥5.53 | ¥7.59 | +37% | vs 2388 |
| China Merchants Bank Co 600036 | ¥42.88 | ¥52.73 | +23% | vs 2388 |
| BNP Paribas SA BNP | €91.93 | €106.01 | +15% | vs 2388 |
| Intesa Sanpaolo S.p.A ISP | €6.18 | €4.49 | −27% | vs 2388 |
| State Bank of India SBIN | ₹1,019 | ₹736.65 | −28% | vs 2388 |
| UniCredit S.p.A UCG | €76.80 | €50.44 | −34% | vs 2388 |
| Mizuho Financial Group MFG | $9.40 | $5.89 | −37% | vs 2388 |
| DBS Group D05 | 69.72 SGD | 40.39 SGD | −42% | vs 2388 |
| HDFC Bank Limited HDFCBANK | ₹788.25 | ₹406.39 | −48% | vs 2388 |
| ICICI Bank Limited ICICIBANK | ₹1,571 | ₹615.63 | −61% | vs 2388 |
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Frequently asked questions
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Key figures of BOC Hong Kong Holdings Ltd
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