Capital Estate Ltd (0193) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$47.1M (≈ $6.0M) · ISIN HK0000489689

What is Capital Estate Ltd really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

• The price sits above even our optimistic bull case (HK$0.1900). The favourable scenario is already priced in.
• The price sits close to our fair value, market and models broadly agree here, little valuation tension.
• The models converge in a tight band (HK$0.1800 to HK$0.1900), unusually little disagreement for a valuation.
• Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range HK$0.1200 – HK$0.4850 · fair‑value band HK$0.1800 – HK$0.1900 · the HK$0.1970 price screens above the HK$0.1800 fair value. Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Capital Estate Ltd (0193) currently trades at HK$0.1970, while our model-based Fair Value estimate is HK$0.1800, implying the stock looks roughly 9.4% fairly valued today. The Quality Score stands at 34/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Growth DCF group reads highest at a median of HK$0.1200 per share, and 1 of the 9 models we run sit above the HK$0.1970 price. Bear case: the Multiples group reads lowest at HK$0.0800, and 8 of the 9 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Capital Estate Ltd generated revenue of HK$43.7M at a net margin of −10.1%. Revenue declined 31.0% year over year. It earns a return on equity of −1.0%. The balance sheet holds a net cash position of HK$39.1M. Fundamentals as of Sep 5, 2026

Our scenario range runs from HK$0.1800 (bear case) to HK$0.1900 (bull case); at HK$0.1970, 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 28% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −61% fair-value upside, at −9%, 0193 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Widest divergence: Asset-Based (HK$2.36) versus Multiples (HK$0.0800). Highest evidence: FCF DCF (74).

Key figures & financial health

Quality Score breakdown

About the company

Capital Estate Limited, an investment holding company, engages in the property development, hotel operation, consumer finance, financial investment, and related activities in Mainland China and Hong Kong. It operates through Hotel Operations, Financial Investment, Property, and Consumer Finance segments. The company holds interests in the Hotel Fortuna.

Full company description

Capital Estate Limited, an investment holding company, engages in the property development, hotel operation, consumer finance, financial investment, and related activities in Mainland China and Hong Kong. It operates through Hotel Operations, Financial Investment, Property, and Consumer Finance segments. The company holds interests in the Hotel Fortuna. It is also involved in trading of listed securities and other financial instruments; sale of properties; and provision of consumer finance, corporate management, and information technology services. The company was formerly known as Yoshiya International Corporation, Limited. Capital Estate Limited was incorporated in 1972 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

Capital Estate Ltd reported revenue of HK$70.0M in FY2025 versus HK$132M in FY2021, a compound −14.7%/yr. Reported net income was −HK$13.9M in FY2025.

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Peer Group

Lodging · 165 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.

Valuation Multiples vs Lodging median · lower = cheaper

Strength profile in five axes (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.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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