MTR Corp Ltd (0066) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of MTR Corp Ltd stock HK$25.72, price HK$34.10, that is 24.6% below the price, quality 45 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
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MTR Corp Ltd
0066 · HKOur calculation puts a fair price 25% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range HK$20.48 – HK$38.00 · fair‑value band HK$13.39 – HK$30.03 · the HK$34.10 price screens above the HK$25.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Company profile
MTR Corporation Limited engages in railway design, construction, operation, maintenance, and investment in Hong Kong, Australia, Mainland China, Macao, Sweden, and the United Kingdom.
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It operates through Hong Kong Transport Operations; Hong Kong Station Commercial Businesses; Hong Kong Property Rental and Management Businesses; Hong Kong Property Development; Mainland China and International Railway, Property Rental and Management Businesses; Mainland China Property Development; and Other Businesses segments.
The company offers passenger operation and related services on the domestic mass transit railway system, the Airport Express, cross-boundary railway connections, light rail and bus feeder with railway system, and intercity railway transport.
It is also involved in railway project management and property development businesses; station commercial business, including leasing of station retail space, leasing of advertising space inside trains and stations, and enabling of telecommunication services on the railway system; property business comprising property development, investment, management, and leasing management of shopping malls and offices; and investment in related new technologies.
In addition, the company provides railway management, engineering, and technology training services. MTR Corporation Limited was founded in 1975 and is headquartered in Kowloon Bay, Hong Kong.
Stock analysis
MTR Corp Ltd (0066) currently trades at HK$34.10, while our model-based Fair Value estimate is HK$25.72, 25% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$41.93 per share, and 4 of the 14 models we run sit above the HK$34.10 price.
Bear case: the Earnings-Based group reads lowest at HK$14.67, and 10 of the 14 models stay below the price. Data coverage for this calculation is high.
Scenario range: HK$13.39 (bear) to HK$30.03 (bull), the price of HK$34.10 sits above 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 45/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
MTR Corp Ltd reported revenue of HK$55.5B in FY2025 versus HK$47.2B in FY2021, a compound +4.1%/yr. Reported net income was HK$14.0B in FY2025, compounding +10.1%/yr from FY2021.
Key figures
Market cap HK$212B (≈ $27.1B) Large · P/E ratio 8.9 · P/S ratio 2.26 · Dividend yield 3.8% · Net margin 25.3% · Return on equity 11.1% · Return on assets (EBIT) 1.7% · Operating margin 70.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (medium confidence).
What moves the price
The share trades about 5% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −21% fair-value upside, at −25%, 0066 screens richer than that median.
Fair Value models
All 16 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
0066 screens overvalued: fair value 25% below the price. Compare with Union Pacific Corporation →
Compare MTR Corp Ltd with another stock
Price, fair value, quality and upside side by side.
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.Railroads · 108 stocks
Valuation Multiplesvs Railroads median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Return on equity by industry
- Quality Score by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Industrials
- Undervalued stocks: Hong Kong Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Railroads stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| CRRC Corporation 601766 | ¥6.38 | ¥9.21 | +44% | vs 0066 |
| Beijing-Shanghai High-Speed Railway Co 601816 | ¥5.27 | ¥5.84 | +11% | vs 0066 |
| Westinghouse Air Brake Technologies Corporation WAB | $278.48 | $290.92 | +4% | vs 0066 |
| Daqin Railway Co 601006 | ¥4.84 | ¥4.66 | −4% | vs 0066 |
| Canadian National Railway Company CNI | $126.49 | $100.13 | −21% | vs 0066 |
| Union Pacific Corporation UNP | $297.95 | $153.89 | −48% | vs 0066 |
| Getlink SE GET | €20.40 | €10.47 | −49% | vs 0066 |
| Canadian Pacific Kansas City Limited CP | $93.76 | $38.28 | −59% | vs 0066 |
| Norfolk Southern Corporation NSC | $329.25 | $132.55 | −60% | vs 0066 |
| CSX Corporation CSX | $50.83 | $12.92 | −75% | vs 0066 |
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Key figures of MTR Corp Ltd
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