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Texwinca Holdings (0321) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$1.5B

TH Texwinca Holdings 0321 · HK
PriceHK$1.08
Fair ValueHK$1.98
Upside+83.3%
Quality58/100
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Weak Growth
Thin margins · 3.1% net margin
Low debt · generates free cash flow
8.93% dividend yield
Ranks above peers (9/15)
Narrow moat 25/100
Evidence: High Range HK$1.48 – HK$2.47 Share as image

Fair value as of: Aug 2, 2026

From 24 valuation models · updated 8 days ago

Share price −1.8% over the past month.

A solid business, screening 83% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$1.48). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) 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$1.32 HK$0.5143 Fair Value HK$1.98 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$0.5143 – HK$1.32 · fair‑value band HK$1.48 – HK$2.47 · the HK$1.08 price screens below the HK$1.98 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Texwinca Holdings (0321) currently trades at HK$1.08, while our model-based Fair Value estimate is HK$1.98, implying the stock looks roughly 83.3% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Consumer Cyclical 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, Texwinca Holdings generated revenue of HK$5.1B at a net margin of 3.1%. Revenue declined 5.8% year over year. It earns a return on equity of 3.3%. The balance sheet holds a net cash position of HK$622M. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$1.48 (bear case) to HK$2.47 (bull case); at HK$1.08, 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 21% below its 52-week high and 49% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -27% fair-value upside, at 83%, 0321 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$2.14 HK$2.50 HK$3.06 80
Residual Income HK$2.46 HK$2.37 HK$1.90 76
Rev-Margin DCF HK$1.73 HK$2.04 HK$2.44 74
All 24 models by family
DCF Models
FCF DCF HK$2.10 HK$2.48 HK$3.12 38
Owner Earnings HK$2.41 HK$2.89 HK$3.69 31
5Y Revenue Exit HK$1.73 HK$2.01 HK$2.42 39
5Y EBITDA Exit HK$2.96 HK$4.15 HK$5.71 41
5Y P/E Exit HK$2.31 HK$3.02 HK$3.87 38
10Y Revenue Exit HK$1.87 HK$2.08 HK$2.30 36
10Y EBITDA Exit HK$2.57 HK$3.29 HK$4.06 37
10Y P/E Exit HK$2.21 HK$2.65 HK$3.07 35
Earnings-Based
Graham-Dodd HK$0.7900 HK$0.9700 HK$1.09 54
EPV HK$1.36 HK$1.43 HK$1.49 59
Dividend Discount
Gordon GGM HK$0.4700 HK$0.5000 HK$0.5600 70
DDM Multi-Stage HK$0.4700 HK$0.5500 HK$0.6700 61
Multiples
P/E Multiple HK$1.92 HK$2.56 HK$3.20 63
P/S Multiple HK$1.48 HK$1.98 HK$2.47 58
P/B Multiple HK$1.48 HK$1.98 HK$2.47 55
EV/EBIT HK$1.81 HK$2.13 HK$2.46 53
EV/EBITDA HK$4.11 HK$5.20 HK$6.29 54
EV/Revenue HK$1.49 HK$1.77 HK$2.06 43
Asset-Based
NCAV (Graham) HK$1.79 HK$2.40 HK$3.58 50
Growth DCF
Growth DCF HK$2.14 HK$2.50 HK$3.06 80
Rev-Margin DCF HK$1.73 HK$2.04 HK$2.44 74
Economic Profit
Residual Income HK$2.46 HK$2.37 HK$1.90 76
ROIC Compounder HK$1.36 HK$1.43 HK$1.49 72
Growth Earnings
Growth-Adj P/E HK$1.35 HK$1.93 HK$2.51 68

Widest divergence: DCF Models (HK$2.65) versus Dividend Discount (HK$0.5000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$5.1B
Revenue growth (YoY) -5.8%
Net margin 3.1%
Return on equity 3.3%
Free cash flow HK$214M FY2025
P/E ratio 9.3
More key figures
Operating margin 1.6%
EPS (TTM) HK$0.0900
Dividend yield 8.9%
EPS growth (YoY) +233%
Net cash HK$622M FY2026

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 56

Profitability 34
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 65
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

Texwinca Holdings Limited engages in the production, dyeing, and sale of knitted fabrics, yarns, and garments in Hong Kong, the United States, Mainland China, Japan, and internationally. It operates through Production, Dyeing and Sale of Knitted Fabric, Yarn and Garments; Retailing and Distribution of Casual Apparel and Accessories; and Others segments.

Full company description

Texwinca Holdings Limited engages in the production, dyeing, and sale of knitted fabrics, yarns, and garments in Hong Kong, the United States, Mainland China, Japan, and internationally. It operates through Production, Dyeing and Sale of Knitted Fabric, Yarn and Garments; Retailing and Distribution of Casual Apparel and Accessories; and Others segments. The company offers yarn spinning, fabric knitting, and dyeing and finishing services, as well as produces and export garments. It also retails and distributes casual apparel and accessories; and offers franchise services. In addition, the company is involved in the trading of machines; provision of management services; export trading; and holding of trademarks and properties. The company was founded in 1975 and is headquartered in Kwai Chung, Hong Kong. Texwinca Holdings Limited is a subsidiary of Farrow Star Limited.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Texwinca Holdings reported revenue of HK$5.1B in FY2026 versus HK$8.0B in FY2022, a compound −10.6%/yr. Reported net income was HK$161M in FY2026, compounding −4.2%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$5.1B
Latest YoY
−7.9%
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.
−5.3%
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.
−6.9%
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.
+2.0%
Revenue −10.6%/yr
FY22 HK$8.0B
FY23 HK$6.1B
FY24 HK$5.4B
FY25 HK$5.6B
FY26 HK$5.1B
Net income −4.2%/yr
FY22 HK$191M
FY23 HK$75.1M
FY24 HK$132M
FY25 HK$116M
FY26 HK$161M
Character of growth · EPS growth decomposed (2015-2026) −16.8 % p.a.
Revenue per share −5.6 pp

of which total revenue −5.6 pp · buybacks/dilution +0.0 pp

EBIT margin −15.4 pp
Tax rate −0.2 pp
Residual (interest, one-offs) +4.4 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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Texwinca Holdings · Fair Value
HK$1.98 +83%Fair Value
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Cite: Fair Value Calculator (2026). "Texwinca Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0321

Peer Group

Textile Manufacturing · 307 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 58 · Above median
Fair Value upside +83% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth -6% · Below median
Dividend yield (TTM) 8.9% · Top 25%
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Textile Manufacturing median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 0.31× · Cheaper than 75% of peers
P/S (TTM) 0.30× · Cheaper than median
P/FCF 0.9× · Pricier than median
EV/EBITDA 1.0× · Cheaper than 75% of peers
PEG 1.13× · 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 100 · sector 8
FUTURE 0 · sector 0
PAST 13 · sector 15
HEALTH 97 · sector 95
DIVIDEND 100 · sector 34

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

Stock Price Fair Value vs Fair Value
Shenzhou International Group 2313 HK$44.40 HK$75.65 +70%
Tongkun Group 601233 ¥23.56 ¥14.53 -38%
Inner Mongolia ERDOS Resources Co 600295 ¥12.04 ¥14.35 +19%
HMT (Xiamen) New Technical Materials Co 603306 ¥91.75 ¥12.85 -86%
Far Eastern New Century Corporation 1402 27.55 TWD 28.72 TWD +4%
K.P.R. Mill Limited KPRMILL ₹1,083 ₹467.49 -57%
Zhejiang Orient Holdings 600120 ¥5.18 ¥2.21 -57%
Vardhman Textiles Limited VTL ₹602.20 ₹437.53 -27%
Isiklar Enerji ve Yapi Holding IEYHO 174.20 TRY 323.84 TRY +86%
Shandong Fiberglass Group 605006 ¥16.75 ¥6.42 -62%

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Frequently asked questions

Is Texwinca Holdings (0321) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$1.98 versus a price of HK$1.08, about +83% (undervalued).
What is the fair value of 0321?
Our model-based fair value for Texwinca Holdings is HK$1.98 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$1.08.
What is the quality score of 0321?
Texwinca Holdings has a Quality Score of 58/100. 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 Texwinca Holdings (0321)?
Texwinca Holdings reported trailing-twelve-month revenue of about HK$5.1B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0321?
The net profit margin of Texwinca Holdings is about 3.1%, meaning it keeps roughly 3.1% of revenue as net income. Based on the latest reported figures.
Does Texwinca Holdings pay a dividend?
Texwinca Holdings currently shows a dividend yield of about 8.93% 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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