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Wing Tai Properties Limited (0369) Fair Value & Analysis

Real Estate · HK · Market cap HK$2.7B

WT Wing Tai Properties Limited 0369 · HK
PriceHK$1.94
Fair ValueHK$0.9500
Upside-51.0%
Quality42/100
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Weak Growth
Loss-making · -170.0% net margin
Low debt · negative free cash flow
3.50% dividend yield
Mixed vs. peers (5/11)
Narrow moat 19/100
Evidence: Low Range HK$0.6400 – HK$1.27 Share as image

Fair value as of: Aug 2, 2026

From 3 valuation models · updated 8 days ago

Fair value updated Aug 2, 2026, revised from HK$1.04 to HK$0.9500 (−8.7%) since Jul 1, 2026. Share price −2.0% over the past month.

Below-average quality, and screening another 51% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$1.27). The favourable scenario is already priced in.
  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (HK$0.6400 to HK$1.27) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$3.96 HK$1.31 Fair Value HK$0.9500 Jan 2019 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$1.31 – HK$3.96 · fair‑value band HK$0.6400 – HK$1.27 · the HK$1.94 price screens above the HK$0.9500 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Wing Tai Properties Limited (0369) currently trades at HK$1.94, while our model-based Fair Value estimate is HK$0.9500, implying the stock looks roughly 51.0% overvalued today. The Quality Score stands at 42/100 (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: low).

Trailing-twelve-month revenue stands at HK$969M. Revenue grew 11.9% year over year. It earns a return on equity of -7.6%. Net debt stands at HK$6.3B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$0.6400 (bear case) to HK$1.27 (bull case); at HK$1.94, 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 27% below its 52-week high and 32% 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 -51%, 0369 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$0.6100 HK$0.8900 HK$1.16 70
DDM Multi-Stage HK$0.6100 HK$0.8500 HK$1.12 61
NCAV (Graham) HK$7.28 HK$9.76 HK$14.56 50
All 3 models by family
Dividend Discount
Gordon GGM HK$0.6100 HK$0.8900 HK$1.16 70
DDM Multi-Stage HK$0.6100 HK$0.8500 HK$1.12 61
Asset-Based
NCAV (Graham) HK$7.28 HK$9.76 HK$14.56 50

Widest divergence: Asset-Based (HK$9.76) versus Dividend Discount (HK$0.8500). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) HK$969M
Revenue growth (YoY) +11.9%
Net margin -170%
Return on equity -7.6%
Free cash flow −HK$258M FY2025
Operating margin 15.1%
More key figures
EPS (TTM) HK$-0.8700
Dividend yield 3.5%
EPS growth (YoY) +98.6%
Net debt HK$6.3B FY2025

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

Quality Score breakdown

Overall quality 42/100

Of which business quality 42 · Market factors (momentum, volatility) 62

Profitability 1
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 78
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

Wing Tai Properties Limited, an investment holding company, engages in the investment, development, and management of properties in Hong Kong, the United Kingdom, the People's Republic of China, Singapore, and internationally.

Full company description

Wing Tai Properties Limited, an investment holding company, engages in the investment, development, and management of properties in Hong Kong, the United Kingdom, the People's Republic of China, Singapore, and internationally. It operates through Property Development; Property Investment and Management; Hospitality Investment and Management; and Others segments. The company's investment properties include commercial, industrial, residential units and serviced apartments, and hotel projects. It is also involved in hospitality management, treasury investment, and licensing. The company was formerly known as USI Holdings Limited and changed its name to Wing Tai Properties Limited in June 2010. Wing Tai Properties Limited was incorporated in 1991 and is headquartered in Kwun Tong, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wing Tai Properties Limited reported revenue of HK$969M in FY2025 versus HK$3.4B in FY2021, a compound −27.1%/yr. Reported net income was −HK$1.6B in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$969M
Latest YoY
−6.0%
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.
−38.2%
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.
−19.1%
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.
−2.2%
Revenue −27.1%/yr
FY21 HK$3.4B
FY22 HK$4.1B
FY23 HK$882M
FY24 HK$1.0B
FY25 HK$969M
Net income
FY21 HK$920M
FY22 −HK$476M
FY23 −HK$825M
FY24 −HK$2.5B
FY25 −HK$1.6B

0369 screens 51% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Wing Tai Properties Limited Fair Value". https://www.fairvalue-calculator.com/stock/0369

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 45 · Below median
Fair Value upside −51% · Bottom 25%
Return on assets 0% · Below median
Net margin (TTM) -170% · Bottom 25%
Operating margin (TTM) 15% · Above median
Revenue growth 12% · Above median
Dividend yield (TTM) 3.5% · Above median
Debt / equity 0.29× · Lower than median

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

P/S (TTM) 0.36× · Cheaper than median
EV/EBITDA 21.7× · 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 60 · sector 0
PAST 0 · sector 10
HEALTH 86 · sector 84
DIVIDEND 70 · 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 Wing Tai Properties Limited (0369) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$0.9500 versus a price of HK$1.94, about −51% (overvalued).
What is the fair value of 0369?
Our model-based fair value for Wing Tai Properties Limited is HK$0.9500 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$1.94.
What is the quality score of 0369?
Wing Tai Properties Limited has a Quality Score of 42/100. 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 Wing Tai Properties Limited (0369)?
Wing Tai Properties Limited reported trailing-twelve-month revenue of about HK$969M (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0369?
The net profit margin of Wing Tai Properties Limited is about -170.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Wing Tai Properties Limited pay a dividend?
Wing Tai Properties Limited currently shows a dividend yield of about 3.50% 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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