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The Sincere Company (0244) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$388M

TS The Sincere Company 0244 · HK
PriceHK$0.2950
Fair ValueHK$0.0300
Upside-89.8%
Quality33/100
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Weak Growth
Loss-making · -47.8% net margin
Negative equity (buybacks among others) · negative free cash flow
Trails peers (3/10)
Narrow moat 4/100
Evidence: Low Range HK$0.0300 – HK$0.0400 Share as image

Fair value as of: Aug 13, 2026

From 2 valuation models · updated 2 days ago

Share price +5.4% over the past month.

Below-average quality, and screening another 90% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.0400). The favourable scenario is already priced in.
  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

HK$0.7200 HK$0.1900 Fair Value HK$0.0300 Apr 2019 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.1900 – HK$0.7200 · fair‑value band HK$0.0300 – HK$0.0400 · the HK$0.2950 price screens above the HK$0.0300 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

The Sincere Company (0244) currently trades at HK$0.2950, while our model-based Fair Value estimate is HK$0.0300, implying the stock looks roughly 89.8% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Consumer Cyclical 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: low).

Over the trailing twelve months, The Sincere Company generated revenue of HK$134M at a net margin of -47.8%. Revenue grew 5.5% year over year. Net debt stands at HK$174M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0300 (bear case) to HK$0.0400 (bull case); at HK$0.2950, 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 31% below its 52-week high and 28% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 25% fair-value upside, at -90%, 0244 screens richer 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
Gordon GGM HK$0.0300 HK$0.0300 HK$0.0300 70
DDM Multi-Stage HK$0.0300 HK$0.0300 HK$0.0400 61
All 2 models by family
Dividend Discount
Gordon GGM HK$0.0300 HK$0.0300 HK$0.0300 70
DDM Multi-Stage HK$0.0300 HK$0.0300 HK$0.0400 61

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Key figures & financial health

Revenue (TTM) HK$134M
Revenue growth (YoY) +5.5%
Net margin -47.8%
Return on equity -102%
Free cash flow −HK$33.8M FY2026
Operating margin -27.7%
More key figures
EPS (TTM) HK$-0.0200
Net debt HK$174M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 31 · Market factors (momentum, volatility) 39

Profitability 15
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 42
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

The Sincere Company, Limited, together with its subsidiaries, operates a chain of department stores in Hong Kong, the United Kingdom, and internationally. The company operates various department stores, which offers men, ladies, outerwear and sportswear, children and baby, cosmetics, electrical and households, bedding and bath, and travel merchandises.

Full company description

The Sincere Company, Limited, together with its subsidiaries, operates a chain of department stores in Hong Kong, the United Kingdom, and internationally. The company operates various department stores, which offers men, ladies, outerwear and sportswear, children and baby, cosmetics, electrical and households, bedding and bath, and travel merchandises. It is also involved in the property holding and securities trading activities; provision of life insurance products; and investment, finance, and management services. The Sincere Company, Limited was founded in 1900 and is based in Central, Hong Kong. The company operates as a subsidiary of Realord Group Holdings Limited.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

The Sincere Company reported revenue of HK$134M in FY2026 versus HK$168M in FY2022, a compound −5.5%/yr. Reported net income was −HK$64.1M in FY2026.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$134M
Latest YoY
+2.2%
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.
−2.9%
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.
−5.4%
Avg. growth/yr (26Y) 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.
−7.1%
Revenue −5.5%/yr
FY22 HK$168M
FY23 HK$147M
FY24 HK$146M
FY25 HK$131M
FY26 HK$134M
Net income
FY22 −HK$91.1M
FY23 −HK$62.3M
FY24 −HK$50.5M
FY25 −HK$40.1M
FY26 −HK$64.1M

0244 screens 90% overvalued. Compare with Falabella S.A →

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Cite: Fair Value Calculator (2026). "The Sincere Company Fair Value". https://www.fairvalue-calculator.com/stock/0244

Peer Group

Department Stores · 127 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 33 · Bottom 25%
Fair Value upside −90% · Bottom 25%
Return on assets -9% · Bottom 25%
Net margin (TTM) -48% · Bottom 25%
Operating margin (TTM) -28% · Bottom 25%
Revenue growth 6% · Above median
Dividend yield (TTM) 1.2% · Below median

Valuation Multiples vs Department Stores median · lower = cheaper

P/S (TTM) 0.37× · Cheaper than median

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 0 · sector 25
FUTURE 28 · sector 2
PAST 0 · sector 15
HEALTH 100 · sector 96
DIVIDEND 24 · sector 44

VALUE 0: the price sits above our fair-value range.

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 Department Stores stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 6,380 CLP 8,005 CLP +25%
El Puerto de Liverpool, S.A. LIVEPOLC1 99.62 MXN 220.59 MXN +121%
99 Speed Mart Retail Holdings 5326 3.65 MYR 1.59 MYR -56%
Cencosud S.A CENCOSUD 1,949 CLP 2,425 CLP +24%
Vishal Mega Mart Limited VMM ₹107.00 ₹30.46 -72%
SHINSEGAE Inc 004170 399,000 KRW 177,841 KRW -55%
Organización Soriana, S. A. B. de C. V., SORIANAB 30.04 MXN 54.64 MXN +82%
Lotte Shopping Co 023530 97,300 KRW 76,636 KRW -21%
La Comer, S.A. LACOMERUBC 34.37 MXN 44.99 MXN +31%
Lojas Renner S.A LREN3 R$11.74 R$33.36 +184%

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Frequently asked questions

Is The Sincere Company (0244) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.0300 versus a price of HK$0.2950, about −90% (overvalued).
What is the fair value of 0244?
Our model-based fair value for The Sincere Company is HK$0.0300 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.2950.
What is the quality score of 0244?
The Sincere Company has a Quality Score of 33/100. 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 The Sincere Company (0244)?
The Sincere Company reported trailing-twelve-month revenue of about HK$134M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0244?
The net profit margin of The Sincere Company is about -47.8%, 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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