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Gemini Investments (Holdings) Limited (0174) Fair Value & Analysis

Real Estate · HK · Market cap HK$159M

GI Gemini Investments (Holdings) Limited 0174 · HK
PriceHK$0.2050
Fair ValueHK$0.3400
Upside+65.9%
Quality44/100
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Mixed Growth
Loss-making · -37.2% net margin
Negative equity (buybacks among others) · generates free cash flow
Mixed vs. peers (7/12)
Narrow moat 32/100
Evidence: Medium Share as image

Fair value as of: Aug 2, 2026

From 2 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$0.4360 to HK$0.3400 (−22.0%) since Jul 1, 2026. Share price −11.3% over the past month.

Below-average quality, screening 66% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • 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$1.12 HK$0.1620 Fair Value HK$0.3400 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$0.1620 – HK$1.12 · the HK$0.2050 price screens below the HK$0.3400 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Gemini Investments (Holdings) Limited (0174) currently trades at HK$0.2050, while our model-based Fair Value estimate is HK$0.3400, implying the stock looks roughly 65.9% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Gemini Investments (Holdings) Limited generated revenue of HK$790M at a net margin of -37.2%. Revenue declined 16.3% year over year. It earns a return on equity of -8.2%. Net debt stands at HK$7.3B. Fundamentals as of Aug 2, 2026

The share trades about 49% below its 52-week high and 37% 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 66%, 0174 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$0.2000 HK$1.73 80
Rev-Margin DCF HK$0.9000 HK$3.22 74
All 2 models by family
Growth DCF
Growth DCF HK$0.2000 HK$1.73 80
Rev-Margin DCF HK$0.9000 HK$3.22 74

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Key figures & financial health

Revenue (TTM) HK$790M
Revenue growth (YoY) -16.3%
Net margin -37.2%
Return on equity -8.2%
Free cash flow HK$100M FY2025
Operating margin 28.9%
More key figures
EPS (TTM) HK$-0.1900
Net debt HK$7.3B FY2025

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

Quality Score breakdown

Overall quality 44/100

Of which business quality 44 · Market factors (momentum, volatility) 36

Profitability 4
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 21
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 45
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 26
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

Gemini Investments (Holdings) Limited, an investment holding company, engages in property investment and development, and other businesses in Hong Kong, the United States, and internationally.

Full company description

Gemini Investments (Holdings) Limited, an investment holding company, engages in property investment and development, and other businesses in Hong Kong, the United States, and internationally. The company leases office and residential properties; develops commercial and residential properties; manages real estate; and invests in various investment funds, securities, and other investments; as well as operates as a restaurant. The company was formerly known as Gemini Property Investments Limited and changed its name to Gemini Investments (Holdings) Limited in July 2011. Gemini Investments (Holdings) Limited was incorporated in 1987 and is based in Central, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gemini Investments (Holdings) Limited reported revenue of HK$795M in FY2025 versus HK$1.2B in FY2021, a compound −10.3%/yr. Reported net income was −HK$294M in FY2025.

Growth Quality 33/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$795M
Latest YoY
−24.1%
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.
−9.3%
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.
+5.7%
Avg. growth/yr (27Y) 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.
−3.0%
Revenue −10.3%/yr
FY21 HK$1.2B
FY22 HK$1.1B
FY23 HK$1.1B
FY24 HK$1.0B
FY25 HK$795M
Net income
FY21 −HK$8.1M
FY22 −HK$296M
FY23 −HK$656M
FY24 −HK$94.8M
FY25 −HK$294M

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Cite: Fair Value Calculator (2026). "Gemini Investments (Holdings) Limited Fair Value". https://www.fairvalue-calculator.com/stock/0174

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 46 · Below median
Fair Value upside +66% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) -37% · Bottom 25%
Operating margin (TTM) 29% · Above median
Revenue growth -16% · Bottom 25%

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 6.2× · Cheaper than 75% of peers
PEG 0.42× · 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 100 · sector 37
FUTURE 0 · sector 10
PAST 0 · sector 16
HEALTH 100 · sector 85
DIVIDEND 0 · sector 49

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Gemini Investments (Holdings) Limited (0174) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$0.3400 versus a price of HK$0.2050, about +66% (undervalued).
What is the fair value of 0174?
Our model-based fair value for Gemini Investments (Holdings) Limited is HK$0.3400 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$0.2050.
What is the quality score of 0174?
Gemini Investments (Holdings) Limited has a Quality Score of 44/100. 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 Gemini Investments (Holdings) Limited (0174)?
Gemini Investments (Holdings) Limited reported trailing-twelve-month revenue of about HK$790M (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0174?
The net profit margin of Gemini Investments (Holdings) Limited is about -37.2%, 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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