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SmarTone Telecommunications Holdings (0315) Fair Value & Analysis

Communication Services · HK · Market cap HK$5.1B

ST SmarTone Telecommunications Holdings 0315 · HK
PriceHK$4.81
Fair ValueHK$9.57
Upside+99.0%
Quality65/100
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Weak Growth
Thin margins · 7.9% net margin
Low debt · generates free cash flow
6.91% dividend yield
Ranks above peers (13/15)
Narrow moat 41/100
Evidence: High Range HK$7.18 – HK$11.96 Share as image

Fair value as of: Aug 2, 2026

From 24 valuation models · updated 8 days ago

Share price +1.5% over the past month.

A solid business, screening 99% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$7.18). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$5.27 HK$2.91 Fair Value HK$9.57 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$2.91 – HK$5.27 · fair‑value band HK$7.18 – HK$11.96 · the HK$4.81 price screens below the HK$9.57 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

SmarTone Telecommunications Holdings (0315) currently trades at HK$4.81, while our model-based Fair Value estimate is HK$9.57, implying the stock looks roughly 99.0% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Communication Services 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: high), always confirm before acting.

Over the trailing twelve months, SmarTone Telecommunications Holdings generated revenue of HK$6.3B at a net margin of 7.9%. Revenue grew 2.0% year over year. It earns a return on equity of 9.4%. The balance sheet holds a net cash position of HK$1.2B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$7.18 (bear case) to HK$11.96 (bull case); at HK$4.81, 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 9% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at 99%, 0315 screens cheaper 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$16.25 HK$20.64 HK$28.53 80
Residual Income HK$4.10 HK$4.46 HK$5.37 76
Rev-Margin DCF HK$10.74 HK$13.81 HK$17.86 74
All 24 models by family
DCF Models
FCF DCF HK$15.74 HK$20.25 HK$29.12 38
Owner Earnings HK$15.40 HK$19.79 HK$28.45 31
5Y Revenue Exit HK$10.74 HK$13.48 HK$17.64 39
5Y EBITDA Exit HK$17.71 HK$25.29 HK$35.70 41
5Y P/E Exit HK$11.02 HK$13.94 HK$17.64 38
10Y Revenue Exit HK$12.47 HK$15.09 HK$17.92 36
10Y EBITDA Exit HK$16.81 HK$22.69 HK$29.29 37
10Y P/E Exit HK$12.79 HK$15.39 HK$17.92 35
Earnings-Based
Graham-Dodd HK$2.96 HK$4.79 HK$5.78 54
EPV HK$6.44 HK$7.18 HK$7.81 59
Dividend Discount
Gordon GGM HK$2.81 HK$3.38 HK$3.97 70
DDM Multi-Stage HK$2.81 HK$3.68 HK$4.74 61
Multiples
P/E Multiple HK$7.18 HK$9.57 HK$11.96 63
P/S Multiple HK$5.55 HK$7.39 HK$9.24 58
P/B Multiple HK$5.55 HK$7.39 HK$9.24 55
EV/EBIT HK$9.99 HK$12.72 HK$15.46 53
EV/EBITDA HK$21.72 HK$28.36 HK$35.00 54
EV/Revenue HK$8.01 HK$10.67 HK$13.34 43
Asset-Based
NCAV (Graham) HK$2.41 HK$3.23 HK$4.82 50
Growth DCF
Growth DCF HK$16.25 HK$20.64 HK$28.53 80
Rev-Margin DCF HK$10.74 HK$13.81 HK$17.86 74
Economic Profit
Residual Income HK$4.10 HK$4.46 HK$5.37 76
ROIC Compounder HK$6.50 HK$7.37 HK$8.31 72
Growth Earnings
Growth-Adj P/E HK$5.06 HK$7.23 HK$9.40 68

Widest divergence: DCF Models (HK$15.39) versus Asset-Based (HK$3.23). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$6.3B
Revenue growth (YoY) +2.0%
Net margin 7.9%
Return on equity 9.4%
Free cash flow HK$1.6B FY2025
P/E ratio 10.1
More key figures
Operating margin 11.0%
EPS (TTM) HK$0.4000
Dividend yield 6.9%
EPS growth (YoY) +8.6%
Net cash HK$1.2B FY2025

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 62

Profitability 41
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 84
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

SmarTone Telecommunications Holdings Limited, an investment holding company, provides telecommunication services in Hong Kong. The company offers voice, multimedia, mobile, and fixed fiber broadband services for the consumer and corporate markets.

Full company description

SmarTone Telecommunications Holdings Limited, an investment holding company, provides telecommunication services in Hong Kong. The company offers voice, multimedia, mobile, and fixed fiber broadband services for the consumer and corporate markets. It also engages in the sale of handsets and accessories; and provision of customer support, telemarketing, and wireless fixed services. The company offers its products and services under the SmarTone, SmarTone Solutions, and Birdie brands. The company was founded in 1992 and is based in Kwun Tong, Hong Kong. SmarTone Telecommunications Holdings Limited operates as a subsidiary of Sun Hung Kai Properties Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SmarTone Telecommunications Holdings reported revenue of HK$6.3B in FY2025 versus HK$6.7B in FY2021, a compound −1.8%/yr. Reported net income was HK$479M in FY2025, compounding +1.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$6.3B
Latest YoY
+0.5%
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.
−3.5%
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.
−2.2%
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 −1.8%/yr
FY21 HK$6.7B
FY22 HK$7.0B
FY23 HK$6.8B
FY24 HK$6.2B
FY25 HK$6.3B
Net income +1.9%/yr
FY21 HK$445M
FY22 HK$423M
FY23 HK$269M
FY24 HK$470M
FY25 HK$479M
Character of growth · EPS growth decomposed (2014-2025) −7.2 % p.a.
Revenue per share −10.6 pp

of which total revenue −10.1 pp · buybacks/dilution −0.5 pp

EBIT margin +6.6 pp
Tax rate −2.0 pp
Residual (interest, one-offs) −1.2 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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SmarTone Telecommunications Holdings · Fair Value
HK$9.57 +99%Fair Value
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Cite: Fair Value Calculator (2026). "SmarTone Telecommunications Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0315

Peer Group

Telecom Services · 250 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 65 · Top 25%
Fair Value upside +99% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 2% · Below median
Dividend yield (TTM) 6.9% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 10.1× · Cheaper than 75% of peers
P/B 0.96× · Cheaper than median
P/S (TTM) 0.81× · Cheaper than median
P/FCF 0.4× · Cheaper than 75% of peers
EV/EBITDA 1.8× · Cheaper than 75% of peers
PEG 69.76× · 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 100 · sector 29
FUTURE 10 · sector 15
PAST 38 · sector 28
HEALTH 99 · sector 88
DIVIDEND 100 · sector 73

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

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is SmarTone Telecommunications Holdings (0315) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$9.57 versus a price of HK$4.81, about +99% (undervalued).
What is the fair value of 0315?
Our model-based fair value for SmarTone Telecommunications Holdings is HK$9.57 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$4.81.
What is the quality score of 0315?
SmarTone Telecommunications Holdings has a Quality Score of 65/100. 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 SmarTone Telecommunications Holdings (0315)?
SmarTone Telecommunications Holdings reported trailing-twelve-month revenue of about HK$6.3B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0315?
The net profit margin of SmarTone Telecommunications Holdings is about 7.9%, meaning it keeps roughly 7.9% of revenue as net income. Based on the latest reported figures.
Does SmarTone Telecommunications Holdings pay a dividend?
SmarTone Telecommunications Holdings currently shows a dividend yield of about 6.91% 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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