Bank Of E Asia (0023) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Bank Of E Asia HK$19.54, price HK$19.23, upside +1.6%, quality 61 out of 100. 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range HK$6.29 – HK$19.79 · fair‑value band HK$14.65 – HK$24.42 · the HK$19.23 price screens below the HK$19.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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The Bank of East Asia, Limited, together with its subsidiaries, provides various banking and related financial services.
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The Bank of East Asia, Limited, together with its subsidiaries, provides various banking and related financial services. It operates through eight segments: the Hong Kong Operations " Personal Banking; Hong Kong Operations " Wholesale Banking; Hong Kong Operations " Treasury Markets; Hong Kong Operations " Wealth Management; Hong Kong Operations " Others; Chinese Mainland Operations; and Overseas, Macau and Taiwan Operations. The company offers syndicated loans, trade finance, deposit-taking, foreign currency savings, remittances, mortgage loans, consumer loans, credit cards, cyberbanking, retail investment and wealth management services, private banking, Renminbi services, foreign exchange margin trading, broking services, and mandatory provident fund services. The Bank of East Asia, Limited was incorporated in 1918 and is headquartered in Central, Hong Kong.
Stock analysis
Bank Of E Asia (0023) currently trades at HK$19.23, while our model-based Fair Value estimate is HK$19.54, implying the stock looks roughly 1.6% fairly valued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of HK$28.21 per share, and 3 of the 6 models we run sit above the HK$19.23 price.
Bear case: the Dividend Discount group reads lowest at HK$10.91, and 3 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: HK$14.65 (bear) to HK$24.42 (bull), the price of HK$19.23 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 61/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Bank Of E Asia reported revenue of HK$37.6B in FY2025 versus HK$23.9B in FY2021, a compound +12.0%/yr. Reported net income was HK$3.5B in FY2025, compounding −9.7%/yr from FY2021.
Key figures
Market cap HK$50.8B (≈ $6.5B) · P/E ratio 10.4 · P/S ratio 0.96 · EPS (TTM) HK$0.8600 · Dividend yield 3.5% · Net margin 9.3% · Return on equity 3.3% · Return on assets (EBIT) 0.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at 2%, 0023 screens cheaper than that median.
Fair Value models
Bear HK$14.65Fair Value HK$19.54Bull HK$24.42
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.1317 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.Evidence ⓘEvidence = 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.78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+143.7%
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.
+8.2%
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.
+6.6%
Start year 2020 (pandemic). Over 10 years: +10.2% a year
Revenue growth 25 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.
+8.4%
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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.
+4.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.3%
Dividend (yield on the price)3.5%
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.1% vs −5%, picking up
Profit margin 2020 to 2025 ⓘ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.13% → 12%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 2.4%/yr over ~10Y (margins intact) ⓘ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.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−23.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−8.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about −25.4% a year for the price and −10.1% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Banks - Regional · 1074 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+2% · Above median
Profitability
Return on equity (TTM)3% · Bottom 25%
Return on assets0% · Bottom 25%
Net margin (TTM)23% · Below median
Operating margin (TTM)35% · Below median
Growth and dividend
Revenue growth−3% · Bottom 25%
Dividend yield (TTM)3.5% · Above median
Balance sheet
Debt / equity0.19× · Below median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Bank Of E Asia Fair Value". https://www.fairvalue-calculator.com/stock/0023
Frequently asked questions
Is Bank Of E Asia (0023) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$19.54 versus a price of HK$19.23, about +2% upside (fairly valued).
What is the fair value of 0023?
Our model-based fair value for Bank Of E Asia is HK$19.54 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$19.23.
What is the quality score of 0023?
Bank Of E Asia has a Quality Score of 61/100. 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 Bank Of E Asia (0023)?
Our model-based price target is the fair value of HK$19.54 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario HK$14.65, optimistic scenario HK$24.42. It is a calculation from audited fundamentals, not an analyst target.
What is the Bank Of E Asia stock forecast for 2026?
Our models put fair value at HK$19.54, about +2% upside versus a price of HK$19.23 (fairly valued). Cautious scenario HK$14.65, optimistic scenario HK$24.42. The calculation is refreshed regularly with new filings.
What is the revenue of Bank Of E Asia (0023)?
Bank Of E Asia reported trailing-twelve-month revenue of about HK$15.4B (latest available figure, as of Sep 24, 2026).
Does Bank Of E Asia pay a dividend?
Bank Of E Asia currently shows a dividend yield of about 3.54% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Bank Of E Asia (0023)?
For today's price to be fair in a discounted-cash-flow model, Bank Of E Asia would have to grow free cash flow by -23.8 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0023 use?
Our models discount Bank Of E Asia at 9.5 %: a base by market capitalisation (mid), damped by beta 0.70, 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 Bank Of E Asia that is -23.8 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Bank Of E Asia (0023) delivered so far?
Over the past 5 years revenue at Bank Of E Asia grew +6.6 % a year. The price currently implies -23.8 % 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 Bank Of E Asia (0023) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Bank Of E Asia (-23.8 % 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 Bank Of E Asia (0023)?
The free-cash-flow yield on the price is 12.83 %: that much free cash flow Bank Of E Asia produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bank Of E Asia (0023)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bank Of E Asia it is HK$19.54 per share (as of Sep 24, 2026), against a price of HK$19.23. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Bank Of E Asia stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0023 trades below its calculated fair value: price HK$19.23, fair value HK$19.54, a gap of about +2% (fairly valued). 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 0023?
No. The price is what the market pays today (HK$19.23); the fair value is what the company's own numbers justify (HK$19.54). For Bank Of E Asia the two are HK$0.3100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bank Of E Asia worth?
The market values Bank Of E Asia at about HK$50.8B (market capitalisation, as of Sep 24, 2026). Per share that is HK$19.23; our models calculate a fair value of HK$19.54 per share.
What do the bullish and bearish scenarios say about 0023?
Our models span a range for Bank Of E Asia: cautious scenario HK$14.65, base HK$19.54, optimistic HK$24.42 per share (as of Sep 24, 2026, price HK$19.23). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0023?
Bank Of E Asia trades at a price-to-earnings ratio of 10.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$19.54 is built from several models across several years. Other multiples: PEG 1.7, P/B 0.5, P/S 3.3, EV/EBITDA 3.3.
What is the PEG ratio of 0023?
The PEG ratio of Bank Of E Asia is 1.67 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Bank Of E Asia (0023)?
Balance-sheet figures for Bank Of E Asia (as of Sep 24, 2026): return on equity 3.3%, debt of 0.19 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 0023 from its 52-week high?
Bank Of E Asia trades at HK$19.23, about 3% below its 52-week high of HK$19.79 and 67% above the low of HK$11.52 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of HK$19.54 is for.
Which stocks are comparable to Bank Of E Asia?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Bank Of E Asia stock attractive at the current price?
The data as of Sep 24, 2026: price HK$19.23, calculated fair value HK$19.54 (+2%), Quality Score 61/100, from 6 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 0023 calculated?
We run Bank Of E Asia through 6 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$19.54, 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 14.1 % above its aggregate fair value. Bank Of E Asia currently trades 2 % 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 Bank Of E Asia (0023)?
The closing price on Sep 23, 2026 was HK$19.23. Our model-based fair value is HK$19.54, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bank Of E Asia right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Bank Of E Asia (0023) come from?
Earnings per share at Bank Of E Asia grew −2.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.3 %, EBIT margin −4.7 %, tax rate −0.2 %, residual (interest, one-offs) −2.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bank Of E Asia
How large is the market capitalisation of Bank Of E Asia (0023)?
The market capitalisation of Bank Of E Asia is HK$50.8B (≈ $6.5B). 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 Bank Of E Asia (0023)?
The price-to-sales ratio of Bank Of E Asia is 0.96 (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 Bank Of E Asia (0023)?
Earnings per share at Bank Of E Asia are HK$0.8600 (price ÷ EPS = P/E 10.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bank Of E Asia (0023)?
The dividend yield of Bank Of E Asia is 3.5% (payout 79.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bank Of E Asia (0023)?
The net margin of Bank Of E Asia is 9.3% (fiscal year 2025). 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 Bank Of E Asia (0023)?
The return on equity (ROE) of Bank Of E Asia is 3.3% (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 Bank Of E Asia (0023)?
On an EBIT basis the return on assets of Bank Of E Asia is 0.6% (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 Bank Of E Asia (0023)?
The operating margin of Bank Of E Asia is 34.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bank Of E Asia (0023)?
Revenue at Bank Of E Asia is growing −3.4% versus a year earlier (3y avg +8.2%). 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 Bank Of E Asia (0023)?
Earnings per share at Bank Of E Asia are growing −57.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Bank Of E Asia (0023) hold?
Bank Of E Asia holds more cash than debt, HK$24.6B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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