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QPL International Holdings Ltd (0243) Fair Value & Analysis

Technology · HK · Market cap HK$173M (≈ $22.1M) · ISIN BMG7302M2110

What is QPL International Holdings Ltd really worth?

QI QPL International Holdings Ltd 0243 · HK
PriceHK$0.4450
Fair ValueHK$1.79
Upside+302.3%
Quality54/100

A solid business, trading 75% below our fair value of HK$1.79.

As of Aug 24, 2026, the fair value of QPL International Holdings Ltd is HK$1.79 per share against a price of HK$0.4450, so the fair value sits 302% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Highly profitable · 28.4% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (9/12)

Risks

!Weak Growth (revenue 5y −1.1 %/yr)
!Moderate moat 58/100
!Evidence only low, so the estimate is less certain
!The models disagree: range HK$1.38 to HK$4.64
Evidence: Low Range HK$1.38 – HK$4.64

Fair value as of: Aug 24, 2026

From 23 valuation models · updated 13 days ago

Fair value updated Aug 24, 2026, revised from HK$1.23 to HK$1.79 (+45.5%) since Aug 23, 2026. Share price −3.3% over the past month.

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 is below even our cautious bear case (HK$1.38). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (HK$1.38 to HK$4.64). 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.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

HK$0.8000 HK$0.1160 Fair Value HK$1.79 Dec 2019 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

60‑month range HK$0.1160 – HK$0.8000 · fair‑value band HK$1.38 – HK$4.64 · the HK$0.4450 price screens below the HK$1.79 fair value. Dashed = 300-day average. As of Aug 24, 2026.

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Analysis

QPL International Holdings Ltd (0243) currently trades at HK$0.4450, while our model-based Fair Value estimate is HK$1.79, implying the stock looks roughly 75.1% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of HK$5.98 per share, and 23 of the 23 models we run sit above the HK$0.4450 price. Bear case: the Earnings-Based group reads lowest at HK$0.4600, and 0 of the 23 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, QPL International Holdings Ltd generated revenue of HK$308M at a net margin of 21.3%. Revenue grew 4.3% year over year. It earns a return on equity of 17.6%. The balance sheet holds a net cash position of HK$29.3M. Fundamentals as of Aug 24, 2026

Our scenario range runs from HK$1.38 (bear case) to HK$4.64 (bull case); at HK$0.4450, the current price sits below 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 49% below its 52-week high and 151% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at 302%, 0243 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 4 months have passed since. In that time the company retained roughly HK$0.0742 per share, which is 5.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

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.

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
FCF DCF best evidence HK$0.4400 HK$0.5000 HK$0.5900 82
Growth DCF HK$0.4500 HK$0.5000 HK$0.5800 80
5Y EBITDA Exit HK$0.7800 HK$1.11 HK$1.55 75
All 23 models by family
DCF Models
FCF DCF best evidence HK$0.4400 HK$0.5000 HK$0.5900 82
5Y Revenue Exit HK$0.5100 HK$0.6500 HK$0.8500 74
5Y EBITDA Exit HK$0.7800 HK$1.11 HK$1.55 75
5Y P/E Exit HK$3.03 HK$4.99 HK$7.33 70
10Y Revenue Exit HK$0.4700 HK$0.5600 HK$0.6500 68
10Y EBITDA Exit HK$0.6200 HK$0.8000 HK$1.00 70
10Y P/E Exit HK$1.78 HK$2.85 HK$3.89 64
Earnings-Based
Graham-Dodd HK$1.94 HK$2.37 HK$2.67 67
EPV HK$0.4400 HK$0.4600 HK$0.4800 74
Dividend Discount
Gordon GGM HK$0.8700 HK$0.9300 HK$1.01 69
DDM Multi-Stage HK$0.8700 HK$1.00 HK$1.17 67
Multiples
P/E Multiple HK$5.99 HK$7.98 HK$9.98 63
P/S Multiple HK$3.63 HK$4.85 HK$6.06 58
P/B Multiple HK$3.63 HK$4.85 HK$6.06 55
EV/EBIT HK$0.9700 HK$1.22 HK$1.46 66
EV/EBITDA HK$1.23 HK$1.56 HK$1.89 67
EV/Revenue HK$0.6000 HK$0.7600 HK$0.9200 54
Asset-Based
NCAV (Graham) HK$0.6200 HK$0.8300 HK$1.24 54
Growth DCF
Growth DCF HK$0.4500 HK$0.5000 HK$0.5800 80
Rev-Margin DCF HK$0.5100 HK$0.6600 HK$0.8300 74
Economic Profit
Residual Income HK$1.44 HK$1.87 HK$5.18 67
ROIC Compounder HK$0.4400 HK$0.4600 HK$0.4800 72
Growth Earnings
Growth-Adj P/E HK$4.19 HK$5.98 HK$7.78 67

Widest divergence: Growth Earnings (HK$5.98) versus Earnings-Based (HK$0.4600). Highest evidence: FCF DCF (82).

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Key figures & financial health

P/E ratio 1.7 as of Aug 24, 2026
P/S ratio 0.47 P/E × margin
EPS (TTM) HK$0.2100 price ÷ EPS = P/E 1.7
Net margin 28.4% FY2026
Return on equity 26.3% TTM
Return on assets (EBIT) −1.2% avg 5y
More key figures
Profitability
Operating margin 4.8% TTM
Growth
Revenue (TTM) HK$348M TTM
Revenue growth (YoY) +26.9% 3y avg +3.6%
EPS growth (YoY) +531%
Balance sheet & cash flow
Free cash flow HK$10.2M FY2025
Net cash HK$29.3M FY2026

Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 39

Profitability 69
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 0
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

QPL International Holdings Limited manufactures and sells integrated circuit lead frames, heatsinks, stiffeners, and related products in the United States, Hong Kong, Europe, the People's Republic of China, the Philippines, Malaysia, Singapore, and Thailand.

Full company description

QPL International Holdings Limited manufactures and sells integrated circuit lead frames, heatsinks, stiffeners, and related products in the United States, Hong Kong, Europe, the People's Republic of China, the Philippines, Malaysia, Singapore, and Thailand. The company offers flip chips, dual flat no-lead packages, plastic dual in-line packages, plastic leaded clip carriers, quad flat non-lead packages, quad flat packs, lead on chips, small outline integrated circuits, thin quad flat packages, thin small outline packages, and thermal enhanced products. It also engages in the distribution of integrated circuit lead frames, chips, and related products; securities trading; financial assistance and advances; money lending activities; and property investment. QPL International Holdings Limited was founded in 1982 and is headquartered in Tsuen Wan, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

QPL International Holdings Ltd reported revenue of HK$348M in FY2026 versus HK$488M in FY2022, a compound −8.1%/yr. Reported net income was HK$98.8M in FY2026, compounding +76.8%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$348M
Latest YoY
+15.3%
Avg. revenue 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.
+3.6%
Avg. revenue 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.
−1.1%
Avg. revenue growth/yr (29Y) ⓘ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.
−6.8%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+43.1% · in HKD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+43.1%
Dividend yield0.0%
Operating margin (EBIT) ⓘ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.−4.8% (2021) → 4.1% (2026) · rising
Worst earnings drop1,601% (2015) (loss year, drop beyond 100%) · in HKD
⚠ Revenue per share shrinking 24.9%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Revenue −8.1%/yr
FY22 HK$488M
FY23 HK$313M
FY24 HK$263M
FY25 HK$301M
FY26 HK$348M
Net income +76.8%/yr
FY22 HK$10.1M
FY23 −HK$34.3M
FY24 −HK$61.4M
FY25 −HK$1.1M
FY26 HK$98.8M

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Cite: Fair Value Calculator (2026). "QPL International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0243.HK

Peer Group

Semiconductors · 325 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 54 · Below median
Return on equity (TTM) 26% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) 28% · Top 25%
Operating margin (TTM) 5% · Below median
Revenue growth 27% · Above median

Valuation Multiples vs Semiconductors median · lower = cheaper

P/E (TTM) 1.7× · Cheaper than 75% of peers
P/B 0.40× · Cheaper than 75% of peers
P/S (TTM) 0.50× · Cheaper than 75% of peers
P/FCF 2.2× · Cheaper than median
EV/EBITDA 4.0× · Cheaper than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 65
PAST100 · sector 25
HEALTH100 · sector 96
DIVIDEND0 · sector 18

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

Similar stocks

10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Aug 24, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $227.98 $98.98 −57%
Taiwan Semiconductor Manufacturing Company TSM $427.30 $296.10 −31%
Broadcom Inc AVGO $357.90 $118.27 −67%
SK hynix Inc 000660 1,647,000 KRW 1,481,291 KRW −10%
Micron Technology, Inc MU $932.86 $148.38 −84%
Advanced Micro Devices, Inc AMD $477.57 $55.02 −88%
Intel Corporation INTC $95.80 $35.41 −63%
Texas Instruments Incorporated TXN $266.54 $78.54 −71%
QUALCOMM Incorporated QCOM $164.78 $147.20 −11%
MediaTek Inc 2454 3,845 TWD 1,559 TWD −59%

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Frequently asked questions

Is QPL International Holdings Ltd (0243) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of HK$1.79 versus a price of HK$0.4450, about +302% upside (undervalued).
What is the fair value of 0243?
Our model-based fair value for QPL International Holdings Ltd is HK$1.79 (as of Aug 24, 2026), built from audited fundamentals. The current price: HK$0.4450.
What is the quality score of 0243?
QPL International Holdings Ltd has a Quality Score of 54/100. 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 QPL International Holdings Ltd (0243)?
Our model-based price target is the fair value of HK$1.79 (as of Aug 24, 2026) from 23 valuation models. Cautious scenario HK$1.38, optimistic scenario HK$4.64. It is a calculation from audited fundamentals, not an analyst target.
What is the QPL International Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$1.79, about +302% upside versus a price of HK$0.4450 (undervalued). Cautious scenario HK$1.38, optimistic scenario HK$4.64. The calculation is refreshed regularly with new filings.
What is the revenue of QPL International Holdings Ltd (0243)?
QPL International Holdings Ltd reported trailing-twelve-month revenue of about HK$308M (latest available figure, as of Aug 24, 2026).
What is the net profit margin of 0243?
The net profit margin of QPL International Holdings Ltd is about 21.3%, meaning it keeps roughly 21.3% of revenue as net income. Based on the latest reported figures.
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