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Shui On Land Limited (0272) Fair Value & Analysis

Real Estate · HK · Market cap HK$3.7B

SO Shui On Land Limited 0272 · HK
PriceHK$0.4800
Fair ValueHK$0.2700
Upside-43.8%
Quality45/100
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Mixed Growth
Loss-making · -43.5% net margin
Moderate debt · generates free cash flow
Trails peers (2/12)
Narrow moat 20/100
Evidence: High Range HK$0.2700 – HK$0.3900 Share as image

Fair value as of: Aug 2, 2026

From 6 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$0.2500 to HK$0.2700 (+8.0%) since Jul 1, 2026. Share price −7.7% over the past month.

Below-average quality, and screening another 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.3900). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • 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$0.9897 HK$0.4400 Fair Value HK$0.2700 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$0.4400 – HK$0.9897 · fair‑value band HK$0.2700 – HK$0.3900 · the HK$0.4800 price screens above the HK$0.2700 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Shui On Land Limited (0272) currently trades at HK$0.4800, while our model-based Fair Value estimate is HK$0.2700, implying the stock looks roughly 43.8% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Real Estate 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: high).

Over the trailing twelve months, Shui On Land Limited generated revenue of HK$4.1B at a net margin of -43.5%. Revenue declined 66.9% year over year. It earns a return on equity of -4.3%. Net debt stands at HK$28.0B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$0.2700 (bear case) to HK$0.3900 (bull case); at HK$0.4800, 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 44% below its 52-week high and 12% 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 -44%, 0272 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$0.2900 HK$0.3400 HK$0.3900 70
DDM Multi-Stage HK$0.2900 HK$0.3800 HK$0.4800 61
EV/EBITDA HK$0.0500 HK$0.7200 54
All 6 models by family
DCF Models
5Y EBITDA Exit HK$0.3700 41
Dividend Discount
Gordon GGM HK$0.2900 HK$0.3400 HK$0.3900 70
DDM Multi-Stage HK$0.2900 HK$0.3800 HK$0.4800 61
Multiples
EV/EBIT HK$0.6200 HK$1.43 53
EV/EBITDA HK$0.0500 HK$0.7200 54
Asset-Based
NCAV (Graham) HK$2.28 HK$3.05 HK$4.56 50

Widest divergence: Asset-Based (HK$3.05) versus Multiples (HK$0.0500). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) HK$4.1B
Revenue growth (YoY) -66.9%
Net margin -43.5%
Return on equity -4.3%
Free cash flow HK$382M FY2025
Operating margin 12.2%
More key figures
EPS (TTM) HK$0.0100
EPS growth (YoY) -29.2%
Net debt HK$28.0B FY2025

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

Quality Score breakdown

Overall quality 45/100

Of which business quality 45 · Market factors (momentum, volatility) 25

Profitability 4
Margins and returns on capital today
Quality Growth 11
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 6
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

Shui On Land Limited, an investment holding company, develops and sells properties in the People's Republic of China. It operates through four segments: Property Development, Property Investment, Property Management, and Construction. The company develops and sells residential and commercial properties; and leases offices and commercial/mall properties.

Full company description

Shui On Land Limited, an investment holding company, develops and sells properties in the People's Republic of China. It operates through four segments: Property Development, Property Investment, Property Management, and Construction. The company develops and sells residential and commercial properties; and leases offices and commercial/mall properties. It also provides property management services; construction, interior fitting-out, renovation, and maintenance services for building premises; debt financing and management services; and asset management. Shui On Land Limited was incorporated in 2004 and is headquartered in Shanghai, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shui On Land Limited reported revenue of HK$4.1B in FY2025 versus HK$17.6B in FY2021, a compound −30.5%/yr. Reported net income was −HK$1.8B in FY2025.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$4.1B
Latest YoY
−49.9%
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.
−35.9%
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.
−2.3%
Avg. growth/yr (22Y) 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.
+7.2%
Revenue −30.5%/yr
FY21 HK$17.6B
FY22 HK$15.6B
FY23 HK$9.8B
FY24 HK$8.2B
FY25 HK$4.1B
Net income
FY21 HK$1.9B
FY22 HK$1.0B
FY23 HK$810M
FY24 HK$180M
FY25 −HK$1.8B

0272 screens 44% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Shui On Land Limited Fair Value". https://www.fairvalue-calculator.com/stock/0272

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 46 · Below median
Fair Value upside −44% · Bottom 25%
Return on assets 1% · Below median
Net margin (TTM) -44% · Bottom 25%
Operating margin (TTM) 12% · Above median
Revenue growth -67% · Bottom 25%
Debt / equity 0.73× · Higher than 75% of peers

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

P/S (TTM) 0.12× · Cheaper than 75% of peers
P/FCF 1.2× · Pricier than median
EV/EBITDA 17.1× · Pricier than median
PEG 1.87× · Pricier 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 0 · sector 48
FUTURE 0 · sector 0
PAST 0 · sector 10
HEALTH 64 · sector 84
DIVIDEND 0 · sector 38

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

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 Shui On Land Limited (0272) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$0.2700 versus a price of HK$0.4800, about −44% (overvalued).
What is the fair value of 0272?
Our model-based fair value for Shui On Land Limited is HK$0.2700 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$0.4800.
What is the quality score of 0272?
Shui On Land Limited has a Quality Score of 45/100. 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 Shui On Land Limited (0272)?
Shui On Land Limited reported trailing-twelve-month revenue of about HK$4.1B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0272?
The net profit margin of Shui On Land Limited is about -43.5%, 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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