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Starlite Holdings (0403) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$76.6M

SH Starlite Holdings 0403 · HK
PriceHK$0.1880
Fair ValueHK$0.1800
Upside-4.3%
Quality42/100
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Weak Growth
Loss-making · -13.4% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 0/100
Evidence: Low Range HK$0.1700 – HK$0.1900 Share as image

Fair value as of: Aug 13, 2026

From 3 valuation models · updated 2 days ago

Share price +27.9% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • The models converge in a tight band (HK$0.1700 to HK$0.1900), unusually little disagreement for a valuation.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

HK$0.3636 HK$0.1410 Fair Value HK$0.1800 Aug 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.1410 – HK$0.3636 · fair‑value band HK$0.1700 – HK$0.1900 · the HK$0.1880 price screens above the HK$0.1800 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Starlite Holdings (0403) currently trades at HK$0.1880, while our model-based Fair Value estimate is HK$0.1800, implying the stock looks roughly 4.3% fairly valued today. The Quality Score stands at 42/100 (below-average quality), in the Consumer Cyclical 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).

Over the trailing twelve months, Starlite Holdings generated revenue of HK$782M at a net margin of -13.4%. Revenue declined 8.7% year over year. It earns a return on equity of -19.4%. The balance sheet holds a net cash position of HK$71.3M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1700 (bear case) to HK$0.1900 (bull case); at HK$0.1880, the current price sits within 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 16% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -23% fair-value upside, at -4%, 0403 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
Gordon GGM HK$0.1700 HK$0.1900 HK$0.2000 70
DDM Multi-Stage HK$0.1700 HK$0.2000 HK$0.2400 61
NCAV (Graham) HK$0.5000 HK$0.6700 HK$1.01 50
All 3 models by family
Dividend Discount
Gordon GGM HK$0.1700 HK$0.1900 HK$0.2000 70
DDM Multi-Stage HK$0.1700 HK$0.2000 HK$0.2400 61
Asset-Based
NCAV (Graham) HK$0.5000 HK$0.6700 HK$1.01 50

Widest divergence: Asset-Based (HK$0.6700) versus Dividend Discount (HK$0.1900). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) HK$782M
Revenue growth (YoY) -8.7%
Net margin -13.4%
Return on equity -19.4%
Free cash flow −HK$9.2M FY2025
Operating margin -17.4%
More key figures
EPS (TTM) HK$-0.1300
EPS growth (YoY) +6.9%
Net cash HK$71.3M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 43 · Market factors (momentum, volatility) 52

Profitability 19
Margins and returns on capital today
Quality Growth 8
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 86
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

Starlite Holdings Limited, together with its subsidiaries, prints and manufactures packaging materials, labels, and paper products in Mainland China, Hong Kong, the United States, Southeast Asia, Europe, and internationally.

Full company description

Starlite Holdings Limited, together with its subsidiaries, prints and manufactures packaging materials, labels, and paper products in Mainland China, Hong Kong, the United States, Southeast Asia, Europe, and internationally. The company offers printing and packaging solutions, including labels; children's and novelty books, and board games; and packaging solutions comprising molded pulp inserts, litho-laminated boxes, hand-assembled rigid and handcrafted gift boxes, and clamshell packages for household appliances, toys and games, greeting cards, consumer electronics, food and beverages, luxury, pharmaceuticals, and personal care products. It also provides APET and luxury packaging from blister packaging, window boxes, metallic foil paperboards, and plastic films; electronic sensory embellishments; e-business services through its e-commerce website; and solutions for technology-based product packaging services, as well as sourcing solutions. In addition, the company offers design solutions, such as packaging, graphic, structural, and product design; and management services. Further, it trades in packaging materials, paper products, environmental friendly paper, and team green products; holds trade and service marks; and engages in publishing and property investment activities. The company serves various industries, such as toys and games, books, greeting cards, cosmetics, and food and wine. Starlite Holdings Limited was founded in 1970 and is headquartered in San Po Kong, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Starlite Holdings reported revenue of HK$782M in FY2026 versus HK$1.0B in FY2022, a compound −7.1%/yr. Reported net income was −HK$105M in FY2026.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$782M
Latest YoY
−12.6%
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.
−5.4%
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.
−5.8%
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.
+1.9%
Revenue −7.1%/yr
FY22 HK$1.0B
FY23 HK$923M
FY24 HK$835M
FY25 HK$895M
FY26 HK$782M
Net income
FY22 HK$357M
FY23 HK$6.5M
FY24 HK$17.4M
FY25 −HK$26.9M
FY26 −HK$105M

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Cite: Fair Value Calculator (2026). "Starlite Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0403

Peer Group

Packaging & Containers · 273 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 42 · Below median
Fair Value upside −4% · Above median
Return on assets -7% · Bottom 25%
Net margin (TTM) -13% · Bottom 25%
Operating margin (TTM) -17% · Bottom 25%
Revenue growth -9% · Below median
Dividend yield (TTM) 16.3% · Top 25%
Debt / equity 0.31× · Higher than median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/S (TTM) 0.01× · Cheaper 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 28 · sector 9
FUTURE 0 · sector 0
PAST 0 · sector 21
HEALTH 85 · sector 93
DIVIDEND 100 · sector 48

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 Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Stora Enso Oyj STER kr 106.80 kr 125.82 +18%
ShenZhen YUTO Packaging Technology Co 002831 ¥27.73 ¥20.16 -27%
SCG Packaging Public Company SCGP 31.00 THB 16.12 THB -48%
AblePrint Technology Co 7734 3,350 TWD 675.50 TWD -80%
PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,193 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 134.00 TWD 127.06 TWD -5%
Time Technoplast Limited TIMETECHNO ₹208.56 ₹161.42 -23%
EPL Limited 500135 ₹247.30 ₹111.65 -55%
Dongwon Systems Corporation 014820 21,650 KRW 31,473 KRW +45%
PT Panca Budi Idaman Tbk, PBID 525.00 IDR 774.13 IDR +47%

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Frequently asked questions

Is Starlite Holdings (0403) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1800 versus a price of HK$0.1880, about −4% (fairly valued).
What is the fair value of 0403?
Our model-based fair value for Starlite Holdings is HK$0.1800 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.1880.
What is the quality score of 0403?
Starlite Holdings 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 Starlite Holdings (0403)?
Starlite Holdings reported trailing-twelve-month revenue of about HK$782M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0403?
The net profit margin of Starlite Holdings is about -13.4%, 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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