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Tingyi (Cayman Islands) Holding (0322) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$55.1B

TC Tingyi (Cayman Islands) Holding 0322 · HK
PriceHK$11.71
Fair ValueHK$18.97
Upside+62.0%
Quality69/100
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Mixed Growth
Thin margins · 5.7% net margin
Low debt · generates free cash flow
3.97% dividend yield
Ranks above peers (11/15)
Moderate moat 55/100
Evidence: Medium Range HK$13.28 – HK$23.71 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 9 days ago

Fair value updated Aug 2, 2026, revised from HK$18.85 to HK$18.97 (+0.6%) since Jul 1, 2026. Share price +5.9% over the past month.

A solid business, screening 62% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$13.28). The market is more pessimistic than our downside scenario.
  • Solid quality (69/100) 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$12.93 HK$5.85 Fair Value HK$18.97 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$5.85 – HK$12.93 · fair‑value band HK$13.28 – HK$23.71 · the HK$11.71 price screens below the HK$18.97 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Tingyi (Cayman Islands) Holding (0322) currently trades at HK$11.71, while our model-based Fair Value estimate is HK$18.97, implying the stock looks roughly 62.0% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Defensive 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, Tingyi (Cayman Islands) Holding generated revenue of HK$79.1B at a net margin of 5.7%. Revenue declined 1.2% year over year. It earns a return on equity of 28.7%. Net debt stands at HK$4.4B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$13.28 (bear case) to HK$23.71 (bull case); at HK$11.71, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 7% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 62%, 0322 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$11.11 HK$15.73 HK$22.23 80
Residual Income HK$4.54 HK$5.40 HK$16.01 76
Rev-Margin DCF HK$10.60 HK$16.18 HK$22.42 74
All 26 models by family
DCF Models
FCF DCF HK$10.89 HK$16.02 HK$23.64 38
Owner Earnings HK$10.53 HK$15.46 HK$22.80 31
5Y Revenue Exit HK$10.60 HK$16.13 HK$23.08 39
5Y EBITDA Exit HK$14.19 HK$22.71 HK$32.51 41
5Y P/E Exit HK$11.43 HK$17.65 HK$24.03 38
10Y Revenue Exit HK$10.32 HK$15.35 HK$21.87 36
10Y EBITDA Exit HK$12.89 HK$19.87 HK$28.95 37
10Y P/E Exit HK$11.14 HK$16.39 HK$22.59 35
Earnings-Based
Graham-Dodd HK$5.29 HK$14.89 HK$19.60 54
Lynch FV HK$3.02 HK$4.31 HK$5.60 50
PEG = 1.0 HK$3.02 HK$4.31 HK$5.60 46
EPV HK$8.50 HK$9.76 HK$10.87 59
Dividend Discount
Gordon GGM HK$6.09 HK$12.65 HK$20.07 70
DDM Multi-Stage HK$6.09 HK$9.64 HK$13.28 61
Multiples
P/E Multiple HK$12.25 HK$16.33 HK$20.42 63
P/S Multiple HK$9.92 HK$13.22 HK$16.53 58
P/B Multiple HK$9.92 HK$13.22 HK$16.53 55
EV/EBIT HK$15.02 HK$19.73 HK$24.44 53
EV/EBITDA HK$17.97 HK$23.67 HK$29.36 54
EV/Revenue HK$10.97 HK$15.29 HK$19.62 43
Asset-Based
NCAV (Graham) HK$1.33 HK$1.78 HK$2.66 50
Growth DCF
Growth DCF HK$11.11 HK$15.73 HK$22.23 80
Rev-Margin DCF HK$10.60 HK$16.18 HK$22.42 74
Economic Profit
Residual Income HK$4.54 HK$5.40 HK$16.01 76
ROIC Compounder HK$8.83 HK$10.55 HK$12.34 72
Growth Earnings
Growth-Adj P/E HK$9.80 HK$13.99 HK$18.19 68

Widest divergence: DCF Models (HK$16.13) versus Asset-Based (HK$1.78). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$79.1B
Revenue growth (YoY) -1.2%
Net margin 5.7%
Return on equity 28.7%
Free cash flow HK$5.1B FY2025
P/E ratio 10.6
More key figures
Operating margin 7.4%
EPS (TTM) HK$0.4000
Dividend yield 4.0%
EPS growth (YoY) +20.5%
Net debt HK$4.4B FY2025

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

Quality Score breakdown

Overall quality 69/100

Of which business quality 67 · Market factors (momentum, volatility) 59

Profitability 75
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 81
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

Tingyi (Cayman Islands) Holding Corp., an investment holding company, manufactures and sells instant noodles, beverages, and instant food products in the People's Republic of China. The company operates through Instant Noodles, Beverages, and Others segments.

Full company description

Tingyi (Cayman Islands) Holding Corp., an investment holding company, manufactures and sells instant noodles, beverages, and instant food products in the People's Republic of China. The company operates through Instant Noodles, Beverages, and Others segments. It offers ready-to-drink teas, juices, bottled water, and carbonated soft drinks; various noodles; and coffee/functional/probiotics drinks. The company also provides property management; and management and consulting services. Tingyi (Cayman Islands) Holding Corp. was founded in 1992 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

Tingyi (Cayman Islands) Holding reported revenue of HK$77.0B in FY2025 versus HK$74.1B in FY2021, a compound +1.0%/yr. Reported net income was HK$4.4B in FY2025, compounding +3.6%/yr from FY2021.

Growth Quality 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$77.0B
Latest YoY
−4.5%
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.
−0.7%
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.
+2.6%
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.
+11.1%
Revenue +1.0%/yr
FY21 HK$74.1B
FY22 HK$78.7B
FY23 HK$80.4B
FY24 HK$80.7B
FY25 HK$77.0B
Net income +3.6%/yr
FY21 HK$3.8B
FY22 HK$2.6B
FY23 HK$3.1B
FY24 HK$3.7B
FY25 HK$4.4B
Character of growth · EPS growth decomposed (2014-2025) +8.5 % p.a.
Revenue per share +3.1 pp

of which total revenue +3.1 pp · buybacks/dilution −0.1 pp

EBIT margin +1.1 pp
Tax rate +1.8 pp
Residual (interest, one-offs) +2.4 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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Cite: Fair Value Calculator (2026). "Tingyi (Cayman Islands) Holding Fair Value". https://www.fairvalue-calculator.com/stock/0322

Peer Group

Packaged Foods · 649 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 69 · Top 25%
Fair Value upside +62% · Top 25%
Return on equity (TTM) 29% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth -1% · Below median
Dividend yield (TTM) 4.0% · Above median
Debt / equity 0.39× · Higher than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 10.6× · Cheaper than 75% of peers
P/B 3.68× · Pricier than 75% of peers
P/S (TTM) 0.70× · Pricier than median
P/FCF 1.4× · Cheaper than median
EV/EBITDA 5.3× · Cheaper than median
PEG 1.29× · 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 100 · sector 28
FUTURE 0 · sector 20
PAST 100 · sector 27
HEALTH 81 · sector 96
DIVIDEND 79 · sector 47

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Tingyi (Cayman Islands) Holding (0322) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$18.97 versus a price of HK$11.71, about +62% (undervalued).
What is the fair value of 0322?
Our model-based fair value for Tingyi (Cayman Islands) Holding is HK$18.97 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$11.71.
What is the quality score of 0322?
Tingyi (Cayman Islands) Holding has a Quality Score of 69/100. 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 Tingyi (Cayman Islands) Holding (0322)?
Tingyi (Cayman Islands) Holding reported trailing-twelve-month revenue of about HK$79.1B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0322?
The net profit margin of Tingyi (Cayman Islands) Holding is about 5.7%, meaning it keeps roughly 5.7% of revenue as net income. Based on the latest reported figures.
Does Tingyi (Cayman Islands) Holding pay a dividend?
Tingyi (Cayman Islands) Holding currently shows a dividend yield of about 3.97% 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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