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STOCK COMPARISON

Wharf vs Sun Hung Kai Properties: Fair Value & Quality

Both stocks run through our valuation models. Here is how Wharf (0004) and Sun Hung Kai Properties (0016) compare, as of Sep 30, 2026.

As of Sep 30, 2026, Fair Value Calculator sees Sun Hung Kai Properties as the more attractively valued of the two: Wharf trades at HK$19.26 versus a fair value of HK$8.31 (−56.9%), while Sun Hung Kai Properties trades at HK$109 versus HK$155 (+43.0%).
Wharf
0004.HK · HKD · Real Estate
−56.9%
upside to fair value
overvalued
PriceHK$19.26
Fair ValueHK$8.31
Quality67/100
Sun Hung Kai Properties
0016.HK · HKD · Real Estate
+43.0%
upside to fair value
undervalued
PriceHK$109
Fair ValueHK$155
Quality71/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

WharfSun Hung Kai Properties
Valuation
905.0×P/E (TTM)14.5×
13.0×Forward P/E12.3×
n/aMedian P/E at FY-end (10 FY, reported earnings)11.2×
1.65×P/S (TTM)3.32×
0.05×P/B0.49×
1.3×EV/EBITDA14.0×
1.65×PEG1.24×
−56.9%Fair value upside+43.0%
2.1%Dividend yield3.5%
HK$0.40Dividend per shareHK$3.78
Profitability
44.1%Operating margin27.9%
1.04×EBIT margin trend (5Y)0.60×
-0.3%Return on equity3.5%
3.6%Return on assets1.9%
Growth
-5.7%Revenue growth (YoY)4.3%
-15.2%Avg. growth/yr (3Y)9.9%
-12.1%Avg. growth/yr (5Y)2.1%
−56.0%Value creation/yr+0.0%
Balance & size
23.7×Interest coverage (EBIT/interest)10.8×
0.11×Debt / equity0.15×
$7BMarket cap$40B
weakGrowth qualitymixed
Sun Hung Kai Properties, median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings: 11.2.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Even match: 8 to 8 metric wins.

Group holding company: 0004 (42 %) consolidates subsidiaries in full but owns only the stated share. Revenue, EBITDA and margin ratios are therefore restated for its own shareholders; earnings per share, P/E and return on equity already were.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Wharfof which business quality 67 · market factors 38 Sun Hung Kai Propertiesof which business quality 69 · market factors 50
ProfitabilityMargins and returns on capital today
11
31
Quality GrowthAre margins and returns improving?
43
52
CashflowEarnings quality: real cash, not paper profit
100
96
Fin. StrengthBalance sheet, leverage, solvency risk
80
69
InvestmentDisciplined investing over empire-building
100
96
Low VolatilityCalm price path (market factor)
77
70
MomentumPrice trend over the last 3–12 months (market factor)
27
40
52W MomentumDistance to the 52-week high (market factor)
12
45
Net IssuanceShare count: buybacks or dilution?
82
82

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyWharfPrice HK$19.26Sun Hung Kai PropertiesPrice HK$109
DCF Models−57.6%below the priceHK$8.16+47.3%above the priceHK$160
Dividend Discount−91.1%below the priceHK$1.72−47.2%below the priceHK$57.33
Multiples−55.2%below the priceHK$8.62+15.9%above the priceHK$126
Asset-Based+67.0%above the priceHK$32.16+35.1%above the priceHK$147
Growth DCF−58.2%below the priceHK$8.05+37.3%above the priceHK$149
Economic Profit+51.4%above the priceHK$29.16+45.9%above the priceHK$158
Minimum−91.1%below the priceHK$1.72−47.2%below the priceHK$57.33
Maximum+67.0%above the priceHK$32.16+47.3%above the priceHK$160
Median−56.4%below the priceHK$8.39+36.2%above the priceHK$148
Geometric mean−48.9%below the priceHK$9.84+16.0%above the priceHK$126

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Wharf: 14 of 16 models see the stock below the current price.

Sun Hung Kai Properties: 3 of 16 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Wharf
Price HK$19.26
Fair Value HK$8.31
Bear HK$6.03Bull HK$11.89
Sun Hung Kai Properties
Price HK$109
Fair Value HK$155
Bear HK$99.58Bull HK$159

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Wharf · Real Estate

Quality score67 · Top 25%
Fair value upside−56.9% · bottom 25%

Sun Hung Kai Properties · Real Estate

Quality score71 · Top 25%
Fair value upside+43.0% · above median

Bottom line

As of Sep 30, 2026, Fair Value Calculator sees Sun Hung Kai Properties as the more attractively valued of the two: Wharf trades at HK$19.26 versus a fair value of HK$8.31 (−56.9%), while Sun Hung Kai Properties trades at HK$109 versus HK$155 (+43.0%).

Sun Hung Kai Properties has the higher quality score (71/100).

Open Sun Hung Kai Properties live analysis →
Wharf · Sun Hung Kai Properties

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.