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Hong Kong Ferry (Holdings) Company (0050) Fair Value & Analysis

Real Estate · HK · Market cap HK$1.7B

HK Hong Kong Ferry (Holdings) Company 0050 · HK
PriceHK$4.86
Fair ValueHK$12.18
Upside+150.6%
Quality74/100
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Healthy Growth
Highly profitable · 78.5% net margin
generates free cash flow
5.15% dividend yield
Ranks above peers (11/13)
Moderate moat 54/100
Evidence: High Range HK$12.18 – HK$13.99 Share as image

Fair value as of: Aug 2, 2026

From 15 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$11.90 to HK$12.18 (+2.4%) since Jul 1, 2026. Share price −0.2% over the past month.

A solid business, screening 151% undervalued on our models.

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (HK$12.18). The market is more pessimistic than our downside scenario.
  • The models converge in a tight band (HK$12.18 to HK$13.99), unusually little disagreement for a valuation.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

HK$6.02 HK$3.66 Fair Value HK$12.18 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range HK$3.66 – HK$6.02 · fair‑value band HK$12.18 – HK$13.99 · the HK$4.86 price screens below the HK$12.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Hong Kong Ferry (Holdings) Company (0050) currently trades at HK$4.86, while our model-based Fair Value estimate is HK$12.18, implying the stock looks roughly 150.6% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Hong Kong Ferry (Holdings) Company generated revenue of HK$427M at a net margin of 78.5%. Revenue grew 7.5% year over year. It earns a return on equity of 4.7%. The balance sheet holds a net cash position of HK$2.1B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$12.18 (bear case) to HK$13.99 (bull case); at HK$4.86, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -30% fair-value upside, at 151%, 0050 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Residual Income HK$14.61 HK$14.27 HK$12.29 76
Growth DCF HK$21.05 HK$28.53 HK$38.64 72
Gordon GGM HK$1.94 HK$3.50 HK$4.82 70
All 15 models by family
DCF Models
FCF DCF HK$21.09 HK$29.18 HK$40.60 38
5Y Revenue Exit HK$14.30 HK$17.50 HK$21.38 39
5Y EBITDA Exit HK$15.44 HK$19.71 HK$24.62 41
10Y Revenue Exit HK$16.76 HK$20.33 HK$24.89 36
10Y EBITDA Exit HK$17.55 HK$21.76 HK$27.24 37
Dividend Discount
Gordon GGM HK$1.94 HK$3.50 HK$4.82 70
DDM Multi-Stage HK$1.94 HK$3.20 HK$3.74 61
Multiples
P/S Multiple HK$5.85 HK$7.79 HK$9.74 58
P/B Multiple HK$12.00 HK$16.00 HK$20.00 55
EV/EBIT HK$13.62 HK$16.18 HK$18.74 53
EV/EBITDA HK$12.54 HK$14.75 HK$16.95 54
EV/Revenue HK$10.17 HK$11.99 HK$13.80 43
Asset-Based
NCAV (Graham) HK$10.27 HK$13.77 HK$20.55 50
Growth DCF
Growth DCF HK$21.05 HK$28.53 HK$38.64 72
Economic Profit
Residual Income HK$14.61 HK$14.27 HK$12.29 76

Widest divergence: Growth DCF (HK$28.53) versus Dividend Discount (HK$3.20). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$427M
Revenue growth (YoY) +7.5%
Net margin 78.5%
Return on equity 4.7%
Free cash flow HK$548M FY2025
P/E ratio 5.1
More key figures
Operating margin 20.0%
EPS (TTM) HK$0.3400
Dividend yield 5.2%
EPS growth (YoY) +187%
Net cash HK$2.1B FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 74 · Market factors (momentum, volatility) 60

Profitability 34
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 94
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Hong Kong Ferry (Holdings) Company Limited, an investment holding company, engages in the property development and investment businesses in Hong Kong. The company operates through five segments: Property Development; Property Investment; Ferry, Shipyard and Related Operations; Medical, Healthcare and Beauty Services; and Securities Investment.

Full company description

Hong Kong Ferry (Holdings) Company Limited, an investment holding company, engages in the property development and investment businesses in Hong Kong. The company operates through five segments: Property Development; Property Investment; Ferry, Shipyard and Related Operations; Medical, Healthcare and Beauty Services; and Securities Investment. The company develops and sells residential units, commercial arcades, and car parking spaces; leases real estate properties; and offers property management services. It also offers dangerous goods vehicular ferry services; ship repair and maintenance services; and healthcare, medical aesthetic, and beauty services, as well as sells goods on cruise vessels. In addition, the company engages in the equity securities investment, trading, and floating restaurant businesses, as well as offers property finance services. The company was formerly known as The Hongkong and Yaumati Ferry Company Limited and changed its name to Hong Kong Ferry (Holdings) Company Limited in 1989. Hong Kong Ferry (Holdings) Company Limited was incorporated in 1923 and is based in Tsing Yi, Hong Kong.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hong Kong Ferry (Holdings) Company reported revenue of HK$427M in FY2025 versus HK$244M in FY2021, a compound +15.0%/yr. Reported net income was HK$335M in FY2025, compounding +29.8%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$427M
Latest YoY
+1.0%
Avg. growth/yr (3Y) 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.
+15.0%
Avg. growth/yr (5Y) 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.
+15.5%
Avg. growth/yr (28Y) 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.
−3.3%
Revenue +15.0%/yr
FY21 HK$244M
FY22 HK$281M
FY23 HK$375M
FY24 HK$423M
FY25 HK$427M
Net income +29.8%/yr
FY21 HK$118M
FY22 HK$1.3B
FY23 HK$190M
FY24 HK$164M
FY25 HK$335M
Character of growth · EPS growth decomposed (2014-2025) −8.0 % p.a.
Revenue per share −14.4 pp

of which total revenue −14.4 pp · buybacks/dilution +0.0 pp

EBIT margin +0.3 pp
Tax rate +1.3 pp
Residual (interest, one-offs) +4.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Hong Kong Ferry (Holdings) Company Fair Value". https://www.fairvalue-calculator.com/stock/0050

Peer Group

Real Estate - Diversified · 137 stocks

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.

Quality Score 74 · Top 25%
Fair Value upside +151% · Top 25%
Return on equity (TTM) 5% · Above median
Return on assets 1% · Below median
Net margin (TTM) 78% · Top 25%
Operating margin (TTM) 20% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 5.2% · Top 25%

Valuation Multiples vs Real Estate - Diversified median · lower = cheaper

P/E (TTM) 5.1× · Cheaper than 75% of peers
P/B 0.23× · Cheaper than median
P/S (TTM) 3.97× · Pricier than median
P/FCF 0.4× · Cheaper than median
PEG 0.97× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 46
FUTURE 38 · sector 32
PAST 19 · sector 17
HEALTH 0 · sector 75
DIVIDEND 100 · sector 45

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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10 more Real Estate - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

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Frequently asked questions

Is Hong Kong Ferry (Holdings) Company (0050) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$12.18 versus a price of HK$4.86, about +151% (undervalued).
What is the fair value of 0050?
Our model-based fair value for Hong Kong Ferry (Holdings) Company is HK$12.18 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$4.86.
What is the quality score of 0050?
Hong Kong Ferry (Holdings) Company has a Quality Score of 74/100. 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 revenue of Hong Kong Ferry (Holdings) Company (0050)?
Hong Kong Ferry (Holdings) Company reported trailing-twelve-month revenue of about HK$427M (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0050?
The net profit margin of Hong Kong Ferry (Holdings) Company is about 78.5%, meaning it keeps roughly 78.5% of revenue as net income. Based on the latest reported figures.
Does Hong Kong Ferry (Holdings) Company pay a dividend?
Hong Kong Ferry (Holdings) Company currently shows a dividend yield of about 5.15% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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