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Beijing Enterprises Environment Group (0154) Fair Value & Analysis

Industrials · HK · Market cap HK$623M

BE Beijing Enterprises Environment Group 0154 · HK
PriceHK$0.4050
Fair ValueHK$0.3099
Upside-23.5%
Quality68/100
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Mixed Growth
Solidly profitable · 16.3% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Moderate moat 61/100
Evidence: High Range HK$0.2285 – HK$0.3880 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$0.3088 to HK$0.3099 (+0.4%) since Jul 1, 2026. Share price +2.5% over the past month.

A solid business, but screening 23% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.3880). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

HK$0.7900 HK$0.2850 Fair Value HK$0.3099 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$0.2850 – HK$0.7900 · fair‑value band HK$0.2285 – HK$0.3880 · the HK$0.4050 price screens above the HK$0.3099 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Beijing Enterprises Environment Group (0154) currently trades at HK$0.4050, while our model-based Fair Value estimate is HK$0.3099, implying the stock looks roughly 23.5% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, Beijing Enterprises Environment Group generated revenue of HK$1.4B at a net margin of 16.3%. Revenue declined 18.9% year over year. It earns a return on equity of 6.3%. Net debt stands at HK$2.9B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$0.2285 (bear case) to HK$0.3880 (bull case); at HK$0.4050, 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 43% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -40% fair-value upside, at -23%, 0154 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
Growth DCF HK$3.55 HK$6.13 HK$10.77 80
Residual Income HK$1.91 HK$1.91 HK$1.79 76
Rev-Margin DCF HK$1.92 HK$3.49 HK$5.88 74
All 26 models by family
DCF Models
FCF DCF HK$3.78 HK$5.75 HK$11.35 38
Owner Earnings HK$3.22 HK$6.89 HK$13.71 31
5Y Revenue Exit HK$1.92 HK$3.12 HK$5.44 39
5Y EBITDA Exit HK$3.99 HK$7.49 HK$14.02 41
5Y P/E Exit HK$2.68 HK$5.41 HK$8.90 38
10Y Revenue Exit HK$2.47 HK$4.37 HK$5.91 36
10Y EBITDA Exit HK$3.86 HK$8.11 HK$16.01 37
10Y P/E Exit HK$3.01 HK$5.75 HK$10.39 35
Earnings-Based
Graham-Dodd HK$1.05 HK$7.34 HK$10.29 54
Lynch FV HK$2.37 HK$3.38 HK$4.39 50
PEG = 1.0 HK$2.37 HK$3.38 HK$4.39 46
EPV HK$1.95 HK$2.25 HK$2.49 59
Dividend Discount
Gordon GGM HK$0.2800 HK$0.5100 HK$0.7100 70
DDM Multi-Stage HK$0.2800 HK$0.4700 HK$0.5500 61
Multiples
P/E Multiple HK$2.44 HK$3.25 HK$4.06 63
P/S Multiple HK$1.42 HK$1.89 HK$2.37 58
P/B Multiple HK$1.97 HK$2.63 HK$3.29 55
EV/EBIT HK$3.87 HK$5.23 HK$6.59 53
EV/EBITDA HK$4.21 HK$5.68 HK$7.15 54
EV/Revenue HK$0.9900 HK$1.50 HK$2.01 43
Asset-Based
NCAV (Graham) HK$1.29 HK$1.73 HK$2.58 50
Growth DCF
Growth DCF HK$3.55 HK$6.13 HK$10.77 80
Rev-Margin DCF HK$1.92 HK$3.49 HK$5.88 74
Economic Profit
Residual Income HK$1.91 HK$1.91 HK$1.79 76
ROIC Compounder HK$1.95 HK$2.25 HK$2.49 72
Growth Earnings
Growth-Adj P/E HK$3.15 HK$4.50 HK$5.85 68

Widest divergence: DCF Models (HK$5.75) versus Dividend Discount (HK$0.4700). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$1.4B
Revenue growth (YoY) -18.9%
Net margin 16.3%
Return on equity 6.3%
Free cash flow HK$449M FY2025
P/E ratio 2.3
More key figures
Operating margin 31.6%
EPS (TTM) HK$0.0800
EPS growth (YoY) -31.2%
Net debt HK$2.9B FY2025

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 63 · Market factors (momentum, volatility) 26

Profitability 29
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 0
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

Beijing Enterprises Environment Group Limited, together with its subsidiaries, engages in the environmental protection business in China. The company operates in two segments, Solid Waste Treatment and Others.

Full company description

Beijing Enterprises Environment Group Limited, together with its subsidiaries, engages in the environmental protection business in China. The company operates in two segments, Solid Waste Treatment and Others. It is involved in waste incineration plant construction and related services; household, hazardous, and medical waste treatment services; and sale of equipment, electricity, and steam generated from waste incineration. The company was formerly known as Beijing Development (Hong Kong) Limited and changed its name to Beijing Enterprises Environment Group Limited in July 2016. Beijing Enterprises Environment Group Limited was incorporated in 1963 and is based in Wan Chai, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing Enterprises Environment Group reported revenue of HK$1.4B in FY2025 versus HK$2.4B in FY2021, a compound −12.5%/yr. Reported net income was HK$232M in FY2025, compounding −3.2%/yr from FY2021.

Growth Quality 63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$1.4B
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.
−11.7%
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.
+3.7%
Avg. growth/yr (24Y) 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.
+10.0%
Revenue −12.5%/yr
FY21 HK$2.4B
FY22 HK$2.6B
FY23 HK$1.6B
FY24 HK$1.7B
FY25 HK$1.4B
Net income −3.2%/yr
FY21 HK$264M
FY22 HK$304M
FY23 HK$190M
FY24 HK$286M
FY25 HK$232M
Character of growth · EPS growth decomposed (2014-2025) +17.6 % p.a.
Revenue per share +15.1 pp

of which total revenue +11.4 pp · buybacks/dilution +3.7 pp

EBIT margin +17.4 pp
Tax rate −0.8 pp
Residual (interest, one-offs) −14.0 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).

0154 screens 23% overvalued. Compare with Waste Management, Inc →

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Cite: Fair Value Calculator (2026). "Beijing Enterprises Environment Group Fair Value". https://www.fairvalue-calculator.com/stock/0154

Peer Group

Waste Management · 166 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 68 · Top 25%
Fair Value upside −24% · Below median
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth -19% · Bottom 25%
Debt / equity 0.49× · Higher than median

Valuation Multiples vs Waste Management median · lower = cheaper

P/E (TTM) 2.3× · Cheaper than 75% of peers
P/B 0.16× · Cheaper than 75% of peers
P/S (TTM) 0.44× · Cheaper than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 1.4× · 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 2 · sector 8
FUTURE 0 · sector 22
PAST 25 · sector 25
HEALTH 75 · sector 81
DIVIDEND 0 · sector 30

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 Waste Management stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $233.33 $128.02 -45%
Republic Services, Inc RSG $219.20 $122.01 -44%
Waste Connections, Inc WCN C$242.43 C$78.67 -68%
Veolia Environnement SA VIE €37.51 €24.50 -35%
Clean Harbors, Inc CLH $303.64 $155.37 -49%
GFL Environmental Inc GFL C$55.40 C$94.12 +70%
Fomento de Construcciones y Contratas, S.A FCC €12.20 €7.30 -40%
GEM Co 002340 ¥6.32 ¥5.27 -17%
Zhejiang Weiming Environment Protection Co 603568 ¥16.18 ¥20.91 +29%
Cleanaway Waste Management Limited CWY A$2.34 A$1.18 -50%

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Frequently asked questions

Is Beijing Enterprises Environment Group (0154) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$0.3099 versus a price of HK$0.4050, about −23% (overvalued).
What is the fair value of 0154?
Our model-based fair value for Beijing Enterprises Environment Group is HK$0.3099 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$0.4050.
What is the quality score of 0154?
Beijing Enterprises Environment Group has a Quality Score of 68/100. 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 Beijing Enterprises Environment Group (0154)?
Beijing Enterprises Environment Group reported trailing-twelve-month revenue of about HK$1.4B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0154?
The net profit margin of Beijing Enterprises Environment Group is about 16.3%, meaning it keeps roughly 16.3% of revenue as net income. 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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