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Tsim Sha Tsui Properties Limited (0247) Fair Value & Analysis

Real Estate · HK · Market cap HK$43.3B

TS Tsim Sha Tsui Properties Limited 0247 · HK
PriceHK$19.35
Fair ValueHK$22.40
Upside+15.8%
Quality63/100
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Mixed Growth
Highly profitable · 21.9% net margin
Low debt · generates free cash flow
2.97% dividend yield
Ranks above peers (9/14)
Moderate moat 56/100
Evidence: Medium Range HK$15.97 – HK$24.55 Share as image

Fair value as of: Aug 2, 2026

From 16 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$23.29 to HK$22.40 (−3.8%) since Jul 1, 2026.

A solid business, screening 16% undervalued on our models.

What matters now

  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
  • Our model range runs from HK$15.97 (bear) to HK$24.55 (bull), base HK$22.40. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

HK$21.25 HK$15.93 Fair Value HK$22.40 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$15.93 – HK$21.25 · fair‑value band HK$15.97 – HK$24.55 · the HK$19.35 price screens below the HK$22.40 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Tsim Sha Tsui Properties Limited (0247) currently trades at HK$19.35, while our model-based Fair Value estimate is HK$22.40, implying the stock looks roughly 15.8% undervalued today. The Quality Score stands at 63/100 (solid 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, Tsim Sha Tsui Properties Limited generated revenue of HK$10.0B at a net margin of 21.9%. Revenue grew 30.9% year over year. It earns a return on equity of 2.2%. Net debt stands at HK$330M. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$15.97 (bear case) to HK$24.55 (bull case); at HK$19.35, the current price sits within 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 6% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 16%, 0247 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
Growth DCF HK$18.26 HK$24.25 HK$34.35 80
Residual Income HK$31.20 HK$29.48 HK$23.57 76
Rev-Margin DCF HK$13.30 HK$18.47 HK$24.84 74
All 16 models by family
DCF Models
FCF DCF HK$17.61 HK$23.79 HK$35.01 38
5Y Revenue Exit HK$13.30 HK$18.15 HK$25.01 39
5Y EBITDA Exit HK$15.72 HK$22.29 HK$30.75 41
10Y Revenue Exit HK$14.51 HK$19.02 HK$24.11 36
10Y EBITDA Exit HK$16.30 HK$21.76 HK$27.94 37
Dividend Discount
Gordon GGM HK$0.0300 HK$0.0400 HK$0.0500 70
DDM Multi-Stage HK$0.0300 HK$0.0400 HK$0.0500 61
Multiples
P/S Multiple HK$13.32 HK$17.76 HK$22.19 58
P/B Multiple HK$13.32 HK$17.76 HK$22.19 55
EV/EBIT HK$20.32 HK$26.86 HK$33.41 53
EV/EBITDA HK$16.76 HK$22.12 HK$27.47 54
EV/Revenue HK$11.51 HK$16.15 HK$20.79 43
Asset-Based
NCAV (Graham) HK$22.07 HK$29.57 HK$44.14 50
Growth DCF
Growth DCF HK$18.26 HK$24.25 HK$34.35 80
Rev-Margin DCF HK$13.30 HK$18.47 HK$24.84 74
Economic Profit
Residual Income HK$31.20 HK$29.48 HK$23.57 76

Widest divergence: Asset-Based (HK$29.57) versus Dividend Discount (HK$0.0400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$10.0B
Revenue growth (YoY) +30.9%
Net margin 21.9%
Return on equity 2.2%
Free cash flow HK$3.7B FY2025
P/E ratio 19.4
More key figures
Operating margin 33.2%
EPS (TTM) HK$0.5900
Dividend yield 3.0%
EPS growth (YoY) -15.8%
Net debt HK$330M FY2025

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 61 · Market factors (momentum, volatility) 58

Profitability 30
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 94
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 51
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

Tsim Sha Tsui Properties Limited, an investment holding company, invests in, develops, manages, and trades in properties primarily in Hong Kong, Mainland China, Singapore, and Australia. It operates through six segments: Property Sales; Property Rental; Property Management and Other Services; Hotel Operations; Investments in Securities; and Financing.

Full company description

Tsim Sha Tsui Properties Limited, an investment holding company, invests in, develops, manages, and trades in properties primarily in Hong Kong, Mainland China, Singapore, and Australia. It operates through six segments: Property Sales; Property Rental; Property Management and Other Services; Hotel Operations; Investments in Securities; and Financing. The company is also involved in securities investment and dealing, mortgage loan financing, building construction and management, club management, and project management activities. In addition, it offers cleaning, management, trustee, secretarial, consultancy, administration, deposit placing, financing, and security services. The company's property portfolio includes shopping malls, offices, industrial buildings, residential, and car parks. Tsim Sha Tsui Properties Limited was incorporated in 1972 and is based in Tsim Sha Tsui, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tsim Sha Tsui Properties Limited reported revenue of HK$8.2B in FY2025 versus HK$24.6B in FY2021, a compound −23.9%/yr. Reported net income was HK$2.3B in FY2025, compounding −18.6%/yr from FY2021.

Growth Quality 72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$8.2B
Latest YoY
−6.6%
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.
−19.3%
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.
+6.8%
Avg. growth/yr (25Y) 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.
+3.1%
Revenue −23.9%/yr
FY21 HK$24.6B
FY22 HK$15.7B
FY23 HK$11.9B
FY24 HK$8.8B
FY25 HK$8.2B
Net income −18.6%/yr
FY21 HK$5.3B
FY22 HK$3.2B
FY23 HK$3.3B
FY24 HK$2.5B
FY25 HK$2.3B
Character of growth · EPS growth decomposed (2014-2025) −7.5 % p.a.
Revenue per share −6.1 pp

of which total revenue −3.6 pp · buybacks/dilution −2.5 pp

EBIT margin −5.7 pp
Tax rate +0.1 pp
Residual (interest, one-offs) +4.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Tsim Sha Tsui Properties Limited Fair Value". https://www.fairvalue-calculator.com/stock/0247

Peer Group

Real Estate - Development · 588 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 62 · Top 25%
Fair Value upside +16% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Above median
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth 31% · Above median
Dividend yield (TTM) 3.0% · Above median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 19.4× · Pricier than median
P/B 0.44× · Cheaper than median
P/S (TTM) 4.32× · Pricier than 75% of peers
P/FCF 1.5× · Pricier than median
EV/EBITDA 11.1× · Pricier 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 54 · sector 48
FUTURE 100 · sector 0
PAST 9 · sector 10
HEALTH 100 · sector 84
DIVIDEND 59 · sector 38

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 - Development stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Tsim Sha Tsui Properties Limited (0247) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$22.40 versus a price of HK$19.35, about +16% (undervalued).
What is the fair value of 0247?
Our model-based fair value for Tsim Sha Tsui Properties Limited is HK$22.40 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$19.35.
What is the quality score of 0247?
Tsim Sha Tsui Properties Limited has a Quality Score of 63/100. 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 Tsim Sha Tsui Properties Limited (0247)?
Tsim Sha Tsui Properties Limited reported trailing-twelve-month revenue of about HK$10.0B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0247?
The net profit margin of Tsim Sha Tsui Properties Limited is about 21.9%, meaning it keeps roughly 21.9% of revenue as net income. Based on the latest reported figures.
Does Tsim Sha Tsui Properties Limited pay a dividend?
Tsim Sha Tsui Properties Limited currently shows a dividend yield of about 2.97% relative to its recent price (as of Aug 2, 2026).

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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