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Starlite Holdings Ltd (0403) fair value: what the stock is really worth

As of Nov 13, 2026: fair value (intrinsic value) of Starlite Holdings Ltd stock HK$0.26, price HK$0.16, upside +60.5%, quality 41 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical HK · ISIN BMG8438Y1030

SH Starlite Holdings Ltd logo Thin data Nov 10, 2026

Starlite Holdings Ltd

0403 · HK

Cheap (38% below fair value), but weak company and price moving sideways: meets 1 of 3 rules.

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Fair value HK$0.2600 · Strongly undervalued 
Low debt 
Even on cautious assumptions the value is 5% above the price (HK$0.1700). 
Quality 41/100 
Price moving sideways (no uptrend) 
Changed on Oct 30: HK$0.2200 → HK$0.2600 
Weak Growth (revenue 5y −5.8 %/yr in HKD) 
Loss-making · -13.4% net margin (TTM) 
Negative free cash flow 
Trails peers (4/11) 
Narrow moat 6/100 · thin data
Thin data 
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$0.3636 HK$0.1410 Fair Value HK$0.2600 Nov 2020 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range HK$0.1410 – HK$0.3636 · fair‑value band HK$0.1700 – HK$0.3300 · the HK$0.1620 price screens below the HK$0.2600 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

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.

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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.

Stock analysis

Starlite Holdings Ltd (0403) currently trades at HK$0.1620, while our model-based Fair Value estimate is HK$0.2600, implying the stock looks roughly 38% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: HK$0.1700 (bear) to HK$0.3300 (bull), the price of HK$0.1620 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 41/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Starlite Holdings Ltd 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.

Key figures

Market cap HK$81.1M (≈ $10.3M) Micro · P/S ratio 0.12 · EPS (TTM) HK$−0.0600 · Dividend yield 13.3% · Net margin −13.4% · Return on equity −19.4% · Return on assets (EBIT) −3.6% (5-year average) · Operating margin −16.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 26% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −20% fair-value upside, at 61%, 0403 screens cheaper than that median.

Fair Value models

Bear HK$0.1700 Fair Value HK$0.2600 Bull HK$0.3300
Price HK$0.1620 · Upside +60.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) HK$0.1700 HK$0.2600 HK$0.3300 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.1700 HK$0.2600 HK$0.3300 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 41/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 19
How much profit the company makes from its sales and capital
Quality Growth 8
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 65
Debt, balance sheet and risk of trouble
Investment 99
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 35
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 24
Distance to the 52-week high, does not count
New shares 86
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−12.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−5.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−5.8%
Start year 2021 (pandemic). Over 10 years: −7.0% a year
Revenue growth 26 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+1.9%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−3.0% (2021) → −11.5% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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Peer Groupⓘ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.Packaging & Containers · 272 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 41 · Bottom 25%
Fair Value upside +60.5% · Top 25%
Profitability
Return on assets −13.8% · Bottom 25%
Net margin (12 months) −13.4% · Bottom 25%
Operating margin (12 months) −16.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −8.7% · Bottom 25%
Dividend yield (12 months) 13.3% · Top 25%
Balance sheet
Debt / equity 0.31× · Above median

Valuation Multiplesvs Packaging & Containers median · lower = cheaper

P/B 0.16× · Cheapest 25%
P/S (12 months) 0.10× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 21
FUTURE (revenue growth)0 · sector 44
PAST (return on equity)0 · sector 26
HEALTH (low debt)85 · sector 92
DIVIDEND (yield)100 · sector 46

Context: sector, industry, market

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

Similar stocks

10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Smurfit Westrock Plc, SW $42.35 $44.16 +4% vs 0403
Crown Holdings CCK $121.57 $121.85 +0% vs 0403
Stora Enso Oyj STEAV €9.72 €9.67 −1% vs 0403
International Paper Company IP $34.43 $31.86 −7% vs 0403
Reynolds Consumer Products Inc REYN $24.80 $19.83 −20% vs 0403
Ball Corporation BALL $65.47 $48.92 −25% vs 0403
Amcor plc AMCR $43.80 $31.20 −29% vs 0403
Avery Dennison Corporation AVY $188.03 $125.58 −33% vs 0403
SIG Group SIGN CHF 15.50 CHF 9.12 −41% vs 0403
Packaging Corporation PKG $251.02 $130.52 −48% vs 0403

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Starlite Holdings Ltd: fair value per Fair Value Calculator

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

Frequently asked questions

Is Starlite Holdings Ltd (0403) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of HK$0.2600 versus a price of HK$0.1620, about +61% upside (undervalued).
What is the fair value of 0403?
Our model-based fair value for Starlite Holdings Ltd is HK$0.2600 (as of Nov 10, 2026), built from audited fundamentals. The current price: HK$0.1620.
What is the quality score of 0403?
Starlite Holdings Ltd has a Quality Score of 41/100. 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 price target for Starlite Holdings Ltd (0403)?
Our model-based price target is the fair value of HK$0.2600 (as of Nov 10, 2026) from 1 valuation models. Cautious scenario HK$0.1700, optimistic scenario HK$0.3300. It is a calculation from audited fundamentals, not an analyst target.
What is the Starlite Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.2600, about +61% upside versus a price of HK$0.1620 (undervalued). Cautious scenario HK$0.1700, optimistic scenario HK$0.3300. The calculation is refreshed regularly with new filings.
What is the revenue of Starlite Holdings Ltd (0403)?
Starlite Holdings Ltd reported trailing-twelve-month revenue of about HK$782M (latest available figure, as of Nov 10, 2026).
Does Starlite Holdings Ltd pay a dividend?
Starlite Holdings Ltd currently shows a dividend yield of 13.30% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Starlite Holdings Ltd (0403)?
Starlite Holdings Ltd has a dividend yield of 13.3%.
What is the intrinsic value of Starlite Holdings Ltd (0403)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Starlite Holdings Ltd it is HK$0.2600 per share (as of Nov 10, 2026), against a price of HK$0.1620. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Starlite Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 0403 trades below its calculated fair value: price HK$0.1620, fair value HK$0.2600, a gap of about +61% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0403?
No. The price is what the market pays today (HK$0.1620); the fair value is what the company's own numbers justify (HK$0.2600). For Starlite Holdings Ltd the two are HK$0.0980 per share apart. That gap is exactly why we show both numbers side by side.
How much is Starlite Holdings Ltd worth?
The market values Starlite Holdings Ltd at about HK$81.1M (market capitalisation, as of Nov 10, 2026). Per share that is HK$0.1620; our models calculate a fair value of HK$0.2600 per share.
What do the bullish and bearish scenarios say about 0403?
Our models span a range for Starlite Holdings Ltd: cautious scenario HK$0.1700, base HK$0.2600, optimistic HK$0.3300 per share (as of Nov 10, 2026, price HK$0.1620). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Starlite Holdings Ltd (0403)?
Balance-sheet figures for Starlite Holdings Ltd (as of Nov 10, 2026): return on equity −19.4%, debt of 0.31 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 0403 from its 52-week high?
Starlite Holdings Ltd trades at HK$0.1620, about 26% below its 52-week high of HK$0.2200 and 15% above the low of HK$0.1410 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2600 is for.
Which stocks are comparable to Starlite Holdings Ltd?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, Amcor plc, International Paper Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Starlite Holdings Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price HK$0.1620, calculated fair value HK$0.2600 (+61%), Quality Score 41/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0403 calculated?
We run Starlite Holdings Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of HK$0.2600 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9% above its aggregate fair value. Starlite Holdings Ltd currently trades 38% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Starlite Holdings Ltd (0403)?
The closing price on Nov 13, 2026 was HK$0.1620. Our model-based fair value is HK$0.2600, about +61% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Starlite Holdings Ltd right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$0.1700). The market is more pessimistic than our downside scenario. 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$0.1700 to HK$0.3300) leaves room in how you read the outcome.

Key figures of Starlite Holdings Ltd

How large is the market capitalisation of Starlite Holdings Ltd (0403)?
The market capitalisation of Starlite Holdings Ltd is HK$81.1M (≈ $10.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Starlite Holdings Ltd (0403)?
The price-to-sales ratio of Starlite Holdings Ltd is 0.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Starlite Holdings Ltd (0403)?
Earnings per share at Starlite Holdings Ltd are HK$−0.0600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Starlite Holdings Ltd (0403)?
The dividend yield of Starlite Holdings Ltd is 13.3%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Starlite Holdings Ltd (0403)?
The net margin of Starlite Holdings Ltd is −13.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Starlite Holdings Ltd (0403)?
The return on equity (ROE) of Starlite Holdings Ltd is −19.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Starlite Holdings Ltd (0403)?
On an EBIT basis the return on assets of Starlite Holdings Ltd is −3.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Starlite Holdings Ltd (0403)?
The operating margin of Starlite Holdings Ltd is −16.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Starlite Holdings Ltd (0403)?
Revenue at Starlite Holdings Ltd is growing −8.7% versus a year earlier (3y avg −5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Starlite Holdings Ltd (0403)?
Earnings per share at Starlite Holdings Ltd are growing +6.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Starlite Holdings Ltd (0403) generate?
The free cash flow of Starlite Holdings Ltd is −HK$44.3M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Starlite Holdings Ltd (0403) hold?
Starlite Holdings Ltd holds more cash than debt, HK$71.3M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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