HashKey Holdings vs S&P Global: Fair Value & Quality
Both stocks run through our valuation models. Here is how HashKey Holdings (3887) and S&P Global (SPGI) compare, as of Aug 17, 2026.
As of Aug 17, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: HashKey Holdings trades at HK$2.51 versus a fair value of HK$0.79 (-69%), while S&P Global trades at $419 versus $196 (-53%).
HashKey Holdings
3887.HK · HKD · Financial Services
-69%
upside to fair value
overvalued
PriceHK$2.51
Fair ValueHK$0.79
Quality41/100
S&P Global
SPGI · USD · Financials
-53%
upside to fair value
overvalued
Price$419
Fair Value$196
Quality80/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
HashKey HoldingsS&P Global
Valuation
—P/E (TTM)28.1×
0.89×P/S (TTM)8.61×
0.23×P/B4.33×
—EV/EBITDA18.6×
—PEG1.85×
—Dividend yield0.9%
—Dividend per share$3.85
Profitability
-150%Net margin30%
-122%Operating margin44%
-121%Return on equity14%
-20%Return on assets7%
Growth
31%Revenue growth (YoY)10%
77.6%Avg. growth/yr (3Y)11.1%
—Avg. growth/yr (5Y)15.6%
Balance & size
—Debt / equity0.40×
$641MMarket cap$135B
expensiveGrowth qualityhealthy
Even match: 4 to 4 metric wins.
Dash = 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.
HashKey Holdingsof which business quality 41 · market factors 2S&P Globalof which business quality 74 · market factors 43
ProfitabilityMargins and returns on capital today
4
50
Quality GrowthAre margins and returns improving?
30
59
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
33
100
Low VolatilityCalm price path (market factor)
0
60
MomentumPrice trend over the last 3–12 months (market factor)
2
45
52W MomentumDistance to the 52-week high (market factor)
6
21
Net IssuanceBuybacks instead of dilution
82
99
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
HashKey Holdings
Asset-BasedHK$0.68
1 of 1 models see the stock below the current price.
S&P Global
DCF Models$217
Earnings-Based$214
Dividend Discount$68.00
Multiples$172
Asset-Based$70.70
Growth DCF$208
Economic Profit$133
13 of 13 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
HashKey Holdings
Bear HK$0.52Fair Value HK$0.79Bull HK$0.99
HK$2.51 = current price (white tick)
S&P Global
Bear $135Fair Value $196Bull $300
$419 = current price (white tick)
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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.
HashKey Holdings · Financial Services
Quality score41 · bottom 25%
Fair value upside-69% · bottom 25%
S&P Global · Financials
Quality score80 · Top 25%
Fair value upside-53% · bottom 25%
Bottom line
As of Aug 17, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: HashKey Holdings trades at HK$2.51 versus a fair value of HK$0.79 (-69%), while S&P Global trades at $419 versus $196 (-53%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
