K Wah International Holdings Ltd (0173) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of K Wah International Holdings Ltd HK$0.88, price HK$1.95, upside -54.8%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range HK$1.52 – HK$2.87 · fair‑value band HK$0.5500 – HK$2.20 · the HK$1.95 price screens above the HK$0.8800 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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K. Wah International Holdings Limited, an investment holding company, engages in the property development and investment businesses in Hong Kong and Mainland China. The company's property portfolio, including residential developments, hotels, serviced apartments, and retail premises.
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K. Wah International Holdings Limited, an investment holding company, engages in the property development and investment businesses in Hong Kong and Mainland China. The company's property portfolio, including residential developments, hotels, serviced apartments, and retail premises. It also offers property management services to residential buildings, commercial facilities, office towers, and real estate complexes. In addition, the company provides financial, management, and decoration services. K. Wah International Holdings Limited was incorporated in 1989 and is headquartered in North Point, Hong Kong.
Stock analysis
K Wah International Holdings Ltd (0173) currently trades at HK$1.95, while our model-based Fair Value estimate is HK$0.8800, implying the stock looks roughly 121.0% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of HK$8.52 per share, and 1 of the 5 models we run sit above the HK$1.95 price.
Bear case: the DCF Models group reads lowest at HK$0.8000, and 4 of the 5 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.5500 (bear) to HK$2.20 (bull), the price of HK$1.95 sits inside 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 42/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
K Wah International Holdings Ltd reported revenue of HK$2.0B in FY2025 versus HK$16.2B in FY2021, a compound −40.9%/yr. Reported net income was −HK$869M in FY2025.
Key figures
Market cap HK$6.1B (≈ $782M) · P/S ratio 3.07 · EPS (TTM) HK$0.0400 · Dividend yield 1.5% · Net margin −43.8% · Return on equity −2.1% · Return on assets (EBIT) 2.3% · Operating margin −91.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −55%, 0173 screens richer than that median.
Fair Value models
Bear HK$0.5500Fair Value HK$0.8800Bull HK$2.20
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0073 per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.10/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−72.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−39.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−29.9%
Start year 2020 (pandemic). Over 10 years: −8.3% a year
Revenue growth 25 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.4%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
47.8% (2019) → −22.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+75.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +72.2% a year for the price.
Compare K Wah International Holdings Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Real Estate - Development · 577 stocks
Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−55% · Bottom 25%
Profitability
Return on assets−1% · Bottom 25%
Net margin (TTM)−44% · Bottom 25%
Operating margin (TTM)−92% · Bottom 25%
Growth and dividend
Revenue growth−84% · Bottom 25%
Dividend yield (TTM)1.5% · Below median
Balance sheet
Debt / equity0.26× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
P/S (TTM)0.39× · Cheaper than median
P/FCF22.1× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 12
HEALTH (low debt)87· sector 83
DIVIDEND (yield)31· sector 56
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "K Wah International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0173
Frequently asked questions
Is K Wah International Holdings Ltd (0173) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$0.8800 versus a price of HK$1.95, about −55% upside (overvalued).
What is the fair value of 0173?
Our model-based fair value for K Wah International Holdings Ltd is HK$0.8800 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$1.95.
What is the quality score of 0173?
K Wah International Holdings Ltd has a Quality Score of 42/100. 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 price target for K Wah International Holdings Ltd (0173)?
Our model-based price target is the fair value of HK$0.8800 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario HK$0.5500, optimistic scenario HK$2.20. It is a calculation from audited fundamentals, not an analyst target.
What is the K Wah International Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.8800, about −55% upside versus a price of HK$1.95 (overvalued). Cautious scenario HK$0.5500, optimistic scenario HK$2.20. The calculation is refreshed regularly with new filings.
What is the revenue of K Wah International Holdings Ltd (0173)?
K Wah International Holdings Ltd reported trailing-twelve-month revenue of about HK$2.0B (latest available figure, as of Sep 24, 2026).
Does K Wah International Holdings Ltd pay a dividend?
K Wah International Holdings Ltd currently shows a dividend yield of about 1.54% relative to its recent price (as of Sep 24, 2026).
What growth is priced into K Wah International Holdings Ltd (0173)?
For today's price to be fair in a discounted-cash-flow model, K Wah International Holdings Ltd would have to grow free cash flow by +75.8 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -29.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0173 use?
Our models discount K Wah International Holdings Ltd at 10.9 %: a base by market capitalisation (small), damped by beta 0.71, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For K Wah International Holdings Ltd that is +75.8 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has K Wah International Holdings Ltd (0173) delivered so far?
Over the past 5 years revenue at K Wah International Holdings Ltd grew -29.9 % a year. The price currently implies +75.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of K Wah International Holdings Ltd (0173) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into K Wah International Holdings Ltd (+75.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of K Wah International Holdings Ltd (0173)?
The free-cash-flow yield on the price is 0.58 %: that much free cash flow K Wah International Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of K Wah International Holdings Ltd (0173)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For K Wah International Holdings Ltd it is HK$0.8800 per share (as of Sep 24, 2026), against a price of HK$1.95. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is K Wah International Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0173 trades above its calculated fair value: price HK$1.95, fair value HK$0.8800, a gap of about −55% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0173?
No. The price is what the market pays today (HK$1.95); the fair value is what the company's own numbers justify (HK$0.8800). For K Wah International Holdings Ltd the two are HK$1.07 per share apart. That gap is exactly why we show both numbers side by side.
How much is K Wah International Holdings Ltd worth?
The market values K Wah International Holdings Ltd at about HK$6.1B (market capitalisation, as of Sep 24, 2026). Per share that is HK$1.95; our models calculate a fair value of HK$0.8800 per share.
What do the bullish and bearish scenarios say about 0173?
Our models span a range for K Wah International Holdings Ltd: cautious scenario HK$0.5500, base HK$0.8800, optimistic HK$2.20 per share (as of Sep 24, 2026, price HK$1.95). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of K Wah International Holdings Ltd (0173)?
Balance-sheet figures for K Wah International Holdings Ltd (as of Sep 24, 2026): return on equity −2.1%, debt of 0.26 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 0173 from its 52-week high?
K Wah International Holdings Ltd trades at HK$1.95, about 31% below its 52-week high of HK$2.82 and 1% above the low of HK$1.93 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.8800 is for.
Which stocks are comparable to K Wah International Holdings Ltd?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is K Wah International Holdings Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price HK$1.95, calculated fair value HK$0.8800 (−55%), Quality Score 42/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0173 calculated?
We run K Wah International Holdings Ltd through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.8800, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. K Wah International Holdings Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of K Wah International Holdings Ltd (0173)?
The closing price on Sep 24, 2026 was HK$1.95. Our model-based fair value is HK$0.8800, about −55% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with K Wah International Holdings Ltd right now?
Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (HK$0.5500 to HK$2.20). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of K Wah International Holdings Ltd (0173) come from?
Earnings per share at K Wah International Holdings Ltd grew −15.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.0 %, EBIT margin −10.0 %, tax rate −1.6 %, residual (interest, one-offs) −5.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of K Wah International Holdings Ltd
How large is the market capitalisation of K Wah International Holdings Ltd (0173)?
The market capitalisation of K Wah International Holdings Ltd is HK$6.1B (≈ $782M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of K Wah International Holdings Ltd (0173)?
The price-to-sales ratio of K Wah International Holdings Ltd is 3.07 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of K Wah International Holdings Ltd (0173)?
Earnings per share at K Wah International Holdings Ltd are HK$0.0400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of K Wah International Holdings Ltd (0173)?
The dividend yield of K Wah International Holdings Ltd is 1.5% (payout 75.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of K Wah International Holdings Ltd (0173)?
The net margin of K Wah International Holdings Ltd is −43.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of K Wah International Holdings Ltd (0173)?
The return on equity (ROE) of K Wah International Holdings Ltd is −2.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of K Wah International Holdings Ltd (0173)?
On an EBIT basis the return on assets of K Wah International Holdings Ltd is 2.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of K Wah International Holdings Ltd (0173)?
The operating margin of K Wah International Holdings Ltd is −91.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at K Wah International Holdings Ltd (0173)?
Revenue at K Wah International Holdings Ltd is growing −84.4% versus a year earlier (3y avg −39.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at K Wah International Holdings Ltd (0173)?
Earnings per share at K Wah International Holdings Ltd are growing −26.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does K Wah International Holdings Ltd (0173) carry?
The net debt of K Wah International Holdings Ltd is HK$7.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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