STOCK COMPARISON
Freehold Royalties vs Cnooc: Fair Value & Quality
Both stocks run through our valuation models. Here is how Freehold Royalties (FRU) and Cnooc (0883) compare, as of Aug 10, 2026.
As of Aug 10, 2026, Fair Value Calculator sees Cnooc as the more attractively valued of the two: Freehold Royalties trades at C$16.92 versus a fair value of C$7.84 (-54%), while Cnooc trades at HK$23.26 versus HK$26.35 (+13%).
Freehold Royalties
FRU.TO · CAD · Energy
-54%
upside to fair value
overvalued
PriceC$16.92
Fair ValueC$7.84
Quality56/100
Cnooc
0883.HK · HKD · Energy
+13%
upside to fair value
undervalued
PriceHK$23.26
Fair ValueHK$26.35
Quality63/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Freehold RoyaltiesCnooc
Valuation
30.9×P/E (TTM)7.7×
6.54×P/S (TTM)2.67×
1.97×P/B1.35×
8.7×EV/EBITDA4.3×
—PEG0.16×
6.5%Dividend yield5.0%
C$1.08Dividend per shareHK$1.15
Profitability
30%Net margin31%
52%Operating margin45%
9%Return on equity15%
7%Return on assets9%
Growth
-15%Revenue growth (YoY)9%
-7.3%Avg. growth/yr (3Y)-3.7%
28.4%Avg. growth/yr (5Y)20.0%
Balance & size
0.28×Debt / equity0.07×
$2BMarket cap$139B
healthyGrowth qualityexpensive
Cnooc leads: 3 to 10 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.
Freehold Royaltiesof which business quality 58 · market factors 69
Cnoocof which business quality 64 · market factors 57
ProfitabilityMargins and returns on capital today
45
55
Quality GrowthAre margins and returns improving?
27
36
CashflowEarnings quality: real cash, not paper profit
94
76
Fin. StrengthBalance sheet, leverage, solvency risk
71
84
InvestmentDisciplined investing over empire-building
69
40
Low VolatilityCalm price path (market factor)
84
83
MomentumPrice trend over the last 3–12 months (market factor)
53
41
52W MomentumDistance to the 52-week high (market factor)
78
56
Net IssuanceBuybacks instead of dilution
28
79
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.
Freehold Royalties
DCF ModelsC$12.12
Earnings-BasedC$5.90
Dividend DiscountC$17.62
MultiplesC$8.09
Asset-BasedC$4.08
Growth DCFC$12.40
Economic ProfitC$6.63
Growth EarningsC$7.19
23 of 26 models see the stock below the current price.
Cnooc
DCF ModelsHK$41.36
Earnings-BasedHK$27.87
Dividend DiscountHK$25.25
MultiplesHK$33.44
Asset-BasedHK$12.08
Growth DCFHK$33.29
Economic ProfitHK$32.53
Growth EarningsHK$33.61
8 of 26 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.
Freehold Royalties
Bear C$5.88Fair Value C$7.84Bull C$9.80
C$16.92 = current price (white tick)
Cnooc
Bear HK$19.80Fair Value HK$26.35Bull HK$33.85
HK$23.26 = current price (white tick)
Compare two other stocks
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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.
Freehold Royalties · Energy
Quality score56 · above median
Fair value upside-54% · bottom 25%
Cnooc · Energy
Quality score63 · Top 25%
Fair value upside+13% · above median
Bottom line
As of Aug 10, 2026, Fair Value Calculator sees Cnooc as the more attractively valued of the two: Freehold Royalties trades at C$16.92 versus a fair value of C$7.84 (-54%), while Cnooc trades at HK$23.26 versus HK$26.35 (+13%).
Cnooc has the higher quality score (63/100).
See the full analysis →
More comparisons
Popular match-ups from the same sectors, all with fair value and quality score.
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
