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Hang Lung Properties Limited (0101) Fair Value & Analysis

Real Estate · HK · Market cap HK$35.8B

HL Hang Lung Properties Limited 0101 · HK
PriceHK$7.48
Fair ValueHK$5.90
Upside-21.1%
Quality61/100
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Healthy Growth
Solidly profitable · 18.2% net margin
Low debt · generates free cash flow
7.41% dividend yield
Mixed vs. peers (8/15)
Moderate moat 57/100
Evidence: Medium Range HK$4.43 – HK$9.36 Share as image

Fair value as of: Aug 2, 2026

From 16 valuation models · updated 8 days ago

Share price +5.4% over the past month.

A solid business, but screening 21% overvalued on our models.

What matters now

  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (HK$4.43 to HK$9.36) leaves room in how you read the outcome.
  • 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$15.42 HK$4.71 Fair Value HK$5.90 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$4.71 – HK$15.42 · fair‑value band HK$4.43 – HK$9.36 · the HK$7.48 price screens above the HK$5.90 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Hang Lung Properties Limited (0101) currently trades at HK$7.48, while our model-based Fair Value estimate is HK$5.90, implying the stock looks roughly 21.1% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Real Estate 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, Hang Lung Properties Limited generated revenue of HK$10.0B at a net margin of 18.2%. Revenue declined 2.9% year over year. It earns a return on equity of 1.6%. Net debt stands at HK$47.8B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$4.43 (bear case) to HK$9.36 (bull case); at HK$7.48, the current price sits within 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 24% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at -21%, 0101 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$0.2400 HK$4.22 HK$9.88 80
Residual Income HK$17.89 HK$16.78 HK$12.59 76
Rev-Margin DCF HK$0.5400 HK$5.86 HK$11.91 74
All 16 models by family
DCF Models
FCF DCF HK$0.0900 HK$4.56 HK$11.32 38
5Y Revenue Exit HK$0.5400 HK$5.86 HK$12.63 39
5Y EBITDA Exit HK$3.28 HK$10.95 HK$19.88 41
10Y Revenue Exit HK$0.0200 HK$4.83 HK$11.23 36
10Y EBITDA Exit HK$2.04 HK$8.35 HK$16.73 37
Dividend Discount
Gordon GGM HK$1.28 HK$2.67 HK$4.23 70
DDM Multi-Stage HK$1.28 HK$2.09 HK$2.80 61
Multiples
P/S Multiple HK$4.43 HK$5.90 HK$7.38 58
P/B Multiple HK$4.43 HK$5.90 HK$7.38 55
EV/EBIT HK$10.53 HK$16.75 HK$22.98 53
EV/EBITDA HK$6.66 HK$11.59 HK$16.52 54
EV/Revenue HK$1.24 HK$5.26 HK$9.29 43
Asset-Based
NCAV (Graham) HK$12.95 HK$17.35 HK$25.89 50
Growth DCF
Growth DCF HK$0.2400 HK$4.22 HK$9.88 80
Rev-Margin DCF HK$0.5400 HK$5.86 HK$11.91 74
Economic Profit
Residual Income HK$17.89 HK$16.78 HK$12.59 76

Widest divergence: Asset-Based (HK$17.35) versus Dividend Discount (HK$2.09). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$10.0B
Revenue growth (YoY) -2.9%
Net margin 18.2%
Return on equity 1.6%
Free cash flow HK$3.8B FY2025
P/E ratio 18.6
More key figures
Operating margin 58.9%
EPS (TTM) HK$0.1900
Dividend yield 7.4%
EPS growth (YoY) -22.7%
Net debt HK$47.8B FY2025

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 42

Profitability 25
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 36
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

Hang Lung Properties Limited, an investment holding company, operates as a property developer in Hong Kong and Mainland China. It operates through Property Leasing, Hotels, and Property Sales segments.

Full company description

Hang Lung Properties Limited, an investment holding company, operates as a property developer in Hong Kong and Mainland China. It operates through Property Leasing, Hotels, and Property Sales segments. The company is involved in property development, sale, and leasing, as well as car park management and property management; develops, holds, and manages commercial complexes; and customer engagement business, including hello Hang Lung mall rewards program and House 66. Its properties include a portfolio of retail, office, residential, and serviced apartments. The company was incorporated in 1949 and is headquartered in Central, Hong Kong. Hang Lung Properties Limited operates as a subsidiary of Hang Lung Group Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hang Lung Properties Limited reported revenue of HK$10.0B in FY2025 versus HK$10.3B in FY2021, a compound −0.9%/yr. Reported net income was HK$1.8B in FY2025, compounding −17.3%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$10.0B
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.
+2.9%
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.
+4.9%
Avg. growth/yr (31Y) 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.
+5.0%
Revenue −0.9%/yr
FY21 HK$10.3B
FY22 HK$10.4B
FY23 HK$10.4B
FY24 HK$11.2B
FY25 HK$10.0B
Net income −17.3%/yr
FY21 HK$3.9B
FY22 HK$3.8B
FY23 HK$4.0B
FY24 HK$2.2B
FY25 HK$1.8B
Character of growth · EPS growth decomposed (2014-2025) −11.6 % p.a.
Revenue per share −2.9 pp

of which total revenue −2.4 pp · buybacks/dilution −0.5 pp

EBIT margin −1.7 pp
Tax rate −3.0 pp
Residual (interest, one-offs) −4.1 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).

0101 screens 21% overvalued. Compare with Vingroup Joint Stock Company →

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Cite: Fair Value Calculator (2026). "Hang Lung Properties Limited Fair Value". https://www.fairvalue-calculator.com/stock/0101

Peer Group

Real Estate Services · 520 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 63 · Top 25%
Fair Value upside −21% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 18% · Above median
Operating margin (TTM) 59% · Top 25%
Revenue growth -3% · Below median
Dividend yield (TTM) 7.4% · Top 25%
Debt / equity 0.36× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 18.6× · Pricier than median
P/B 0.27× · Cheaper than 75% of peers
P/S (TTM) 3.60× · Pricier than median
P/FCF 1.2× · Cheaper than median
EV/EBITDA 12.9× · Cheaper than median
PEG 0.40× · 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 5 · sector 37
FUTURE 0 · sector 10
PAST 7 · sector 16
HEALTH 82 · sector 85
DIVIDEND 100 · sector 49

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

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 223,000 VND 25,731 VND -88%
KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Hang Lung Properties Limited (0101) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$5.90 versus a price of HK$7.48, about −21% (overvalued).
What is the fair value of 0101?
Our model-based fair value for Hang Lung Properties Limited is HK$5.90 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$7.48.
What is the quality score of 0101?
Hang Lung Properties Limited 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 revenue of Hang Lung Properties Limited (0101)?
Hang Lung Properties Limited reported trailing-twelve-month revenue of about HK$10.0B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0101?
The net profit margin of Hang Lung Properties Limited is about 18.2%, meaning it keeps roughly 18.2% of revenue as net income. Based on the latest reported figures.
Does Hang Lung Properties Limited pay a dividend?
Hang Lung Properties Limited currently shows a dividend yield of about 7.41% 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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