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Stelux Holdings (0084) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$70.5M

SH Stelux Holdings 0084 · HK
PriceHK$0.0680
Fair ValueHK$0.0286
Upside-57.9%
Quality43/100
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Weak Growth
Loss-making · -7.6% net margin
Low debt · generates free cash flow
Trails peers (3/10)
Narrow moat 0/100
Evidence: Medium Range HK$0.0286 – HK$0.0490 Share as image

Fair value as of: Aug 2, 2026

From 11 valuation models · updated 8 days ago

Share price +1.5% over the past month.

Below-average quality, and screening another 58% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.0490). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

HK$0.1100 HK$0.0430 Fair Value HK$0.0286 Mar 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$0.0430 – HK$0.1100 · fair‑value band HK$0.0286 – HK$0.0490 · the HK$0.0680 price screens above the HK$0.0286 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Stelux Holdings (0084) currently trades at HK$0.0680, while our model-based Fair Value estimate is HK$0.0286, implying the stock looks roughly 57.9% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Stelux Holdings generated revenue of HK$621M at a net margin of -7.6%. Revenue grew 3.5% year over year. It earns a return on equity of -5.1%. Net debt stands at HK$140M. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$0.0286 (bear case) to HK$0.0490 (bull case); at HK$0.0680, the current price sits above 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 23% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -41% fair-value upside, at -58%, 0084 screens richer 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
Growth DCF HK$0.2500 HK$0.2800 HK$0.3200 80
Rev-Margin DCF HK$0.2600 HK$0.3200 HK$0.3900 74
EV/EBITDA HK$0.2400 HK$0.2800 HK$0.3100 54
All 11 models by family
DCF Models
FCF DCF HK$0.2500 HK$0.2800 HK$0.3300 38
Owner Earnings HK$0.2700 HK$0.3100 HK$0.3700 31
5Y Revenue Exit HK$0.2600 HK$0.3100 HK$0.3900 39
5Y EBITDA Exit HK$0.2400 HK$0.2800 HK$0.3300 41
10Y Revenue Exit HK$0.2500 HK$0.2900 HK$0.3200 36
10Y EBITDA Exit HK$0.2400 HK$0.2700 HK$0.2900 37
Multiples
EV/EBITDA HK$0.2400 HK$0.2800 HK$0.3100 54
EV/Revenue HK$0.2800 HK$0.3400 HK$0.4000 43
Asset-Based
NCAV (Graham) HK$0.4400 HK$0.5900 HK$0.8800 50
Growth DCF
Growth DCF HK$0.2500 HK$0.2800 HK$0.3200 80
Rev-Margin DCF HK$0.2600 HK$0.3200 HK$0.3900 74

Widest divergence: Asset-Based (HK$0.5900) versus DCF Models (HK$0.2800). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$621M
Revenue growth (YoY) +3.5%
Net margin -7.6%
Return on equity -5.1%
Free cash flow HK$16.6M FY2025
Operating margin -7.4%
More key figures
EPS (TTM) HK$-0.0900
Net debt HK$140M FY2026

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 46 · Market factors (momentum, volatility) 38

Profitability 14
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 85
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

Stelux Holdings International Limited, an investment holding company, engages in the trading, wholesale and retail of watches in Hong Kong, Macau, Mainland China, the rest of Asia, and Europe.

Full company description

Stelux Holdings International Limited, an investment holding company, engages in the trading, wholesale and retail of watches in Hong Kong, Macau, Mainland China, the rest of Asia, and Europe. The company is involved in the distribution of clocks and watches, including the Seiko, Cyma, Credor, and Grand Seiko brands; watch supply chain management activities; manufacture of watch movement; and owning and operation of online stores under the Solvil et Titus and City Chain brands. It also engages in property investment, management, and agency activities; and holds and licenses trademarks. The company was founded in 1963 and is headquartered in San Po Kong, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Stelux Holdings reported revenue of HK$621M in FY2026 versus HK$693M in FY2022, a compound −2.7%/yr. Reported net income was −HK$47.2M in FY2026.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$621M
Latest YoY
+0.9%
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.
−8.3%
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.
−2.5%
Avg. growth/yr (26Y) 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.
−2.1%
Revenue −2.7%/yr
FY22 HK$693M
FY23 HK$805M
FY24 HK$768M
FY25 HK$615M
FY26 HK$621M
Net income
FY22 −HK$107M
FY23 HK$50.8M
FY24 HK$473M
FY25 −HK$107M
FY26 −HK$47.2M

0084 screens 58% overvalued. Compare with Compagnie Financière Richemont SA →

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Cite: Fair Value Calculator (2026). "Stelux Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0084

Peer Group

Luxury Goods · 130 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 43 · Bottom 25%
Fair Value upside −56% · Bottom 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -8% · Bottom 25%
Operating margin (TTM) -7% · Bottom 25%
Revenue growth 4% · Below median

Valuation Multiples vs Luxury Goods median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
P/FCF 0.5× · Cheaper than 75% of peers

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 0 · sector 15
FUTURE 18 · sector 50
PAST 0 · sector 38
HEALTH 100 · sector 99
DIVIDEND 0 · sector 39

VALUE 0: the price sits above our fair-value range.

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.

Similar stocks

10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Compagnie Financière Richemont SA CFR CHF 197.40 CHF 117.30 -41%
Christian Dior SE DIO €455.40 €502.30 +10%
Kering SA KER €248.50 €60.61 -76%
Tapestry, Inc TPR $140.73 $19.95 -86%
Chow Tai Fook Jewellery Group 1929 HK$11.82 HK$12.28 +4%
The Swatch Group UHRN CHF 40.95 CHF 21.48 -48%
Prada S.p.A 1913 HK$43.26 HK$64.05 +48%
Pandora A/S PNDORA kr 779.40 kr 1,424 +83%
Brunello Cucinelli S.p.A BC €80.32 €42.69 -47%
Kalyan Jewellers India Limited KALYANKJIL ₹546.60 ₹238.57 -56%

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Frequently asked questions

Is Stelux Holdings (0084) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$0.0286 versus a price of HK$0.0680, about −58% (overvalued).
What is the fair value of 0084?
Our model-based fair value for Stelux Holdings is HK$0.0286 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$0.0680.
What is the quality score of 0084?
Stelux Holdings has a Quality Score of 43/100. 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 Stelux Holdings (0084)?
Stelux Holdings reported trailing-twelve-month revenue of about HK$621M (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0084?
The net profit margin of Stelux Holdings is about -7.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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