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Hong Kong Economic Times Holdings Ltd (0423) fair value: what the stock is really worth

As of Sep 29, 2026: fair value of Hong Kong Economic Times Holdings Ltd HK$1.01, price HK$0.63, upside +61.6%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? Yes
Good quality? No
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Communication Services · HK · ISIN KYG4587A1031

Thin data Sep 27, 2026

Hong Kong Economic Times Holdings Ltd

0423 · HK

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value HK$1.01 · Strongly undervalued (+61.6%)

!Quality 50/100

!Weak Growth (revenue 5y −6.3 %/yr)

!Loss-making · -6.0% net margin (TTM)

!Low debt · negative free cash flow

!11.2% dividend yield · Watch coverage

!Mixed vs. peers (5/11)

!Narrow moat 1/100

!Evidence only low, so the estimate is less certain

26 models, one by oneBear HK$0.9200 to bull HK$1.14 Growth analysisrevenue history, year by year Quality 50/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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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

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range HK$0.5905 – HK$0.9043 · fair‑value band HK$0.9200 – HK$1.14 · the HK$0.6250 price screens below the HK$1.01 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Hong Kong Economic Times Holdings Limited, an investment holding company, operates as a diversified multi-media company primarily in Hong Kong and Mainland China. It operates in two segments, Media; and Financial News Agency, Information, and Solutions. The company engages in the printing and publication of newspapers, magazines, and books, as well as the operation of digital platforms, including recruitment, finance, and lifestyle. It also provides electronic financial and property market information and related solutions; and information subscription services, solutions, and other related maintenance services. In addition, the company offers recruitment advertising and lifestyle platforms; and equities and derivatives trading services, as well as operates a computer software research and development center, and health portal; and holds properties. Further, it provides funds market database and solutions. The company was founded in 1988 and is based in North Point, Hong Kong.

Stock analysis

Hong Kong Economic Times Holdings Ltd (0423) currently trades at HK$0.6250, while our model-based Fair Value estimate is HK$1.01, implying the stock looks roughly 38.1% undervalued today.

Valuation

Bull case: the Asset-Based group reads highest at a median of HK$1.13 per share, and 3 of the 3 models we run sit above the HK$0.6250 price.

Bear case: the Dividend Discount group reads lowest at HK$0.9600, and 0 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$0.9200 (bear) to HK$1.14 (bull), the price of HK$0.6250 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 50/100 (below-average quality), in the Communication Services sector.

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

Hong Kong Economic Times Holdings Ltd reported revenue of HK$721M in FY2026 versus HK$1.0B in FY2022, a compound −8.8%/yr. Reported net income was −HK$43.0M in FY2026.

Key figures

Market cap HK$302M (≈ $38.5M) · P/S ratio 0.42 · EPS (TTM) HK$−0.0500 · Dividend yield 11.2% · Net margin −6.0% · Return on equity −5.4% · Return on assets (EBIT) 0.3% · Operating margin −4.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 24% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 12% fair-value upside, at 62%, 0423 screens cheaper than that median.

Fair Value models

Bear HK$0.9200 Fair Value HK$1.01 Bull HK$1.14

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. 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. Evidence ⓘEvidence = 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.

Highest evidence

Gordon GGM HK$0.8800 HK$0.9600 HK$1.08 69

DDM Multi-Stage HK$0.8800 HK$1.09 HK$1.37 67

NCAV (Graham) HK$0.8500 HK$1.13 HK$1.69 54

All 3 models by family

Dividend Discount

Gordon GGM HK$0.8800 HK$0.9600 HK$1.08 69

DDM Multi-Stage HK$0.8800 HK$1.09 HK$1.37 67

Asset-Based

NCAV (Graham) HK$0.8500 HK$1.13 HK$1.69 54

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Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 37

Profitability 23

Margins and returns on capital today

Quality Growth 37

Are margins and returns improving?

Cashflow 3

Earnings quality: real cash, not paper profit

Fin. Strength 92

Balance sheet, leverage, solvency risk

Investment 100

Disciplined investing over empire-building

Low Volatility 90

Calm price path (market factor)

Momentum 21

Price trend over the last 3–12 months (market factor)

52W Momentum 6

Distance to the 52-week high (market factor)

Net Issuance 82

Share count: buybacks or dilution?

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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

−10.3%

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.

−11.0%

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.

−6.3%

Start year 2021 (pandemic). Over 10 years: −4.8% a year

Revenue growth 23 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.

+1.3%

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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.

2.7% (2021) → −6.0% (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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Compare Hong Kong Economic Times Holdings Ltd with another stock

Price, fair value, quality and upside side by side.

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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.Publishing · 106 stocks

Beats the industry median on 4/9 measures

A mixed picture versus its industry peers.

Valuation

Quality Score 50 · Bottom 25%

Fair Value upside +61.6% · Above median

Profitability

Return on assets −2.5% · Bottom 25%

Net margin (TTM) −6.0% · Bottom 25%

Operating margin (TTM) −4.0% · Bottom 25%

Growth and dividend

Revenue growth −10.1% · Bottom 25%

Dividend yield (TTM) 11.2% · Top 25%

Valuation Multiplesvs Publishing median · lower = cheaper

P/B 0.05× · Cheapest 25%

P/S (TTM) 0.05× · Cheapest 25%

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)100 · sector 48

FUTURE (revenue growth)0 · sector 0

PAST (return on equity)0 · sector 25

HEALTH (low debt)100 · sector 99

DIVIDEND (yield)100 · sector 59

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 Publishing stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value
The New York Times Company NYT	$63.83	$42.10	−34%
Xinhua Winshare Publishing and Media Co 601811	¥18.52	¥21.02	+13%
Jiangsu Phoenix Publishing & Media Corporation 601928	¥8.16	¥9.14	+12%
People.cn CO., LTD 603000	¥16.81	¥4.23	−75%
China South Publishing & Media Group 601098	¥10.18	¥10.70	+5%
China Science Publishing & Media Ltd 601858	¥22.11	¥10.08	−54%
John Wiley & Sons, Inc WLY	$47.55	$61.03	+28%
Zhejiang Publishing & Media Co 601921	¥7.54	¥7.45	−1%
Shandong Publishing&Media Co 601019	¥6.75	¥11.60	+72%
Central China Land Media CO.,LTD, 000719	¥12.09	¥42.58	+252%

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Hong Kong Economic Times Holdings Ltd · Fair Value
HK$1.01 +38%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/0423" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Hong Kong Economic Times Holdings Ltd · Fair Value</span><br><b style="font-size:20px">HK$1.01</b> <span style="color:var(--fvc-g-mitte);font-weight:700;font-size:14px">+38%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Hong Kong Economic Times Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0423

Frequently asked questions

Is Hong Kong Economic Times Holdings Ltd (0423) overvalued or undervalued?

As of Sep 27, 2026, our model estimates a fair value of HK$1.01 versus a price of HK$0.6250, about +62% upside (undervalued).

What is the fair value of 0423?

Our model-based fair value for Hong Kong Economic Times Holdings Ltd is HK$1.01 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.6250.

What is the quality score of 0423?

Hong Kong Economic Times Holdings Ltd has a Quality Score of 50/100. 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 Hong Kong Economic Times Holdings Ltd (0423)?

Our model-based price target is the fair value of HK$1.01 (as of Sep 27, 2026) from 3 valuation models. Cautious scenario HK$0.9200, optimistic scenario HK$1.14. It is a calculation from audited fundamentals, not an analyst target.

What is the Hong Kong Economic Times Holdings Ltd stock forecast for 2026?

Our models put fair value at HK$1.01, about +62% upside versus a price of HK$0.6250 (undervalued). Cautious scenario HK$0.9200, optimistic scenario HK$1.14. The calculation is refreshed regularly with new filings.

What is the revenue of Hong Kong Economic Times Holdings Ltd (0423)?

Hong Kong Economic Times Holdings Ltd reported trailing-twelve-month revenue of about HK$721M (latest available figure, as of Sep 27, 2026).

Does Hong Kong Economic Times Holdings Ltd pay a dividend?

Hong Kong Economic Times Holdings Ltd currently shows a dividend yield of about 11.20% relative to its recent price (as of Sep 27, 2026).

What is the intrinsic value of Hong Kong Economic Times Holdings Ltd (0423)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hong Kong Economic Times Holdings Ltd it is HK$1.01 per share (as of Sep 27, 2026), against a price of HK$0.6250. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).

Is Hong Kong Economic Times Holdings Ltd stock overvalued or undervalued in 2026?

As of Sep 27, 2026, 0423 trades below its calculated fair value: price HK$0.6250, fair value HK$1.01, a gap of about +62% (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 0423?

No. The price is what the market pays today (HK$0.6250); the fair value is what the company's own numbers justify (HK$1.01). For Hong Kong Economic Times Holdings Ltd the two are HK$0.3850 per share apart. That gap is exactly why we show both numbers side by side.

How much is Hong Kong Economic Times Holdings Ltd worth?

The market values Hong Kong Economic Times Holdings Ltd at about HK$302M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.6250; our models calculate a fair value of HK$1.01 per share.

What do the bullish and bearish scenarios say about 0423?

Our models span a range for Hong Kong Economic Times Holdings Ltd: cautious scenario HK$0.9200, base HK$1.01, optimistic HK$1.14 per share (as of Sep 27, 2026, price HK$0.6250). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of Hong Kong Economic Times Holdings Ltd (0423)?

Balance-sheet figures for Hong Kong Economic Times Holdings Ltd (as of Sep 27, 2026): return on equity −5.4%. They feed the Quality Score of 50/100, which measures business quality independently of the share price.

How far is 0423 from its 52-week high?

Hong Kong Economic Times Holdings Ltd trades at HK$0.6250, about 24% below its 52-week high of HK$0.8200 and 1% above the low of HK$0.6200 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$1.01 is for.

Which stocks are comparable to Hong Kong Economic Times Holdings Ltd?

From the same area (Communication Services) we also value The New York Times Company, Xinhua Winshare Publishing and Media Co, Jiangsu Phoenix Publishing & Media Corporation, People.cn CO., LTD, 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 Hong Kong Economic Times Holdings Ltd stock attractive at the current price?

The data as of Sep 27, 2026: price HK$0.6250, calculated fair value HK$1.01 (+62%), Quality Score 50/100, from 3 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 0423 calculated?

We run Hong Kong Economic Times Holdings Ltd through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$1.01, 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 14.9 % above its aggregate fair value. Hong Kong Economic Times 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 Hong Kong Economic Times Holdings Ltd (0423)?

The closing price on Sep 29, 2026 was HK$0.6250. Our model-based fair value is HK$1.01, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Hong Kong Economic Times Holdings Ltd right now?

The price is below even our cautious bear case (HK$0.9200). 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. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Hong Kong Economic Times Holdings Ltd

How large is the market capitalisation of Hong Kong Economic Times Holdings Ltd (0423)?

The market capitalisation of Hong Kong Economic Times Holdings Ltd is HK$302M (≈ $38.5M). 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 Hong Kong Economic Times Holdings Ltd (0423)?

The price-to-sales ratio of Hong Kong Economic Times Holdings Ltd is 0.42 (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 Hong Kong Economic Times Holdings Ltd (0423)?

Earnings per share at Hong Kong Economic Times Holdings Ltd are HK$−0.0500. Earnings per share over the last twelve months: total profit spread across every single share.

What is the dividend yield of Hong Kong Economic Times Holdings Ltd (0423)?

The dividend yield of Hong Kong Economic Times Holdings Ltd is 11.2%. 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 Hong Kong Economic Times Holdings Ltd (0423)?

The net margin of Hong Kong Economic Times Holdings Ltd is −6.0% (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 Hong Kong Economic Times Holdings Ltd (0423)?

The return on equity (ROE) of Hong Kong Economic Times Holdings Ltd is −5.4% (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 Hong Kong Economic Times Holdings Ltd (0423)?

On an EBIT basis the return on assets of Hong Kong Economic Times Holdings Ltd is 0.3% (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 Hong Kong Economic Times Holdings Ltd (0423)?

The operating margin of Hong Kong Economic Times Holdings Ltd is −4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Hong Kong Economic Times Holdings Ltd (0423)?

Revenue at Hong Kong Economic Times Holdings Ltd is growing −10.1% versus a year earlier (3y avg −11.0%). 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 Hong Kong Economic Times Holdings Ltd (0423)?

Earnings per share at Hong Kong Economic Times Holdings Ltd are growing +51.6% versus a year earlier. How much earnings per share grew versus a year earlier.

How much free cash flow does Hong Kong Economic Times Holdings Ltd (0423) generate?

The free cash flow of Hong Kong Economic Times Holdings Ltd is −HK$31.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net cash does Hong Kong Economic Times Holdings Ltd (0423) hold?

Hong Kong Economic Times Holdings Ltd holds more cash than debt, HK$219M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.

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