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Pacific Century Premium Developments Ltd (0432) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Pacific Century Premium Developments Ltd HK$0.33, price HK$0.21, upside +56.4%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Real Estate · HK · ISIN BMG6844T1229

PC Pacific Century Premium Developments Ltd logo Thin data Sep 27, 2026

Pacific Century Premium Developments Ltd

0432 · HK

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

✓Fair value HK$0.3300 · Strongly undervalued (+56.4%)
!Quality 42/100
!Weak Growth (revenue 5y −10.7 %/yr)
!Loss-making · -6.6% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Mixed vs. peers (4/8)
!Narrow moat 15/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

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

Price vs Fair Value

HK$0.7600 HK$0.1670 Fair Value HK$0.3300 May 2021 Sep 2026

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$0.1670 – HK$0.7600 · fair‑value band HK$0.1700 – HK$0.4400 · the HK$0.2110 price screens below the HK$0.3300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Pacific Century Premium Developments Limited, together with its subsidiaries, engages in the development and management of property and infrastructure projects in Hong Kong, Japan, Thailand, and Indonesia. It also develops residential, office, and commercial properties.

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Pacific Century Premium Developments Limited, together with its subsidiaries, engages in the development and management of property and infrastructure projects in Hong Kong, Japan, Thailand, and Indonesia. It also develops residential, office, and commercial properties. In addition, the company is involved in property development and golf operation, as well as hotel, recreation, and leisure operations; property investment; leasing and financing activities; travel agency activities; trademark registrant activities; ski operation; property sales agency activities; and property holding and leasing activities. Further, it offers property, and asset and facilities management services; administrative services; and financial services. Pacific Century Premium Developments Limited is based in Hong Kong, Hong Kong.

Stock analysis

Pacific Century Premium Developments Ltd (0432) currently trades at HK$0.2110, while our model-based Fair Value estimate is HK$0.3300, implying the stock looks roughly 36.1% undervalued today.

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Valuation

How firm this estimate is: it rests on 6 models at a data quality of 93/100, which puts the evidence level at low.

Scenario range: HK$0.1700 (bear) to HK$0.4400 (bull), the price of HK$0.2110 sits inside 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 42/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Pacific Century Premium Developments Ltd reported revenue of HK$1.0B in FY2025 versus HK$467M in FY2021, a compound +22.3%/yr. Reported net income was −HK$69.0M in FY2025.

Key figures

Market cap HK$430M (≈ $54.8M) · P/S ratio 0.42 · EPS (TTM) HK$−0.1200 · Net margin −6.6% · Return on equity −355% · Return on assets (EBIT) −1.1% · Operating margin 9.4% · Revenue (TTM) HK$1.0B.

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 41% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at 56%, 0432 screens cheaper than that median.

Fair Value models

Bear HK$0.1700 Fair Value HK$0.3300 Bull HK$0.4400
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
EV/EBITDA HK$1.61 HK$2.23 HK$2.84 67
EV/EBIT HK$0.6400 HK$0.9300 HK$1.22 65
EV/Revenue HK$0.2500 HK$0.4600 HK$0.6600 52
All 3 models by family
Multiples
EV/EBIT HK$0.6400 HK$0.9300 HK$1.22 65
EV/EBITDA HK$1.61 HK$2.23 HK$2.84 67
EV/Revenue HK$0.2500 HK$0.4600 HK$0.6600 52

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Quality Score breakdown

Overall quality 42/100

Of which business quality 39 · Market factors (momentum, volatility) 33

Profitability 8
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 26
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 growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+16.1%
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.
+23.1%
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.
−10.7%
Start year 2020 (pandemic). Over 10 years: +20.3% 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.
+0.5%
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.
−14.6% (2020) → 10.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 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.Real Estate Services · 540 stocks

Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 43 · Bottom 25%
Fair Value upside +56.4% · Above median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets 0.6% · Below median
Net margin (TTM) −6.6% · Bottom 25%
Operating margin (TTM) 9.4% · Below median
Growth and dividend
Revenue growth 35.0% · Top 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Real Estate Services median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 0.05× · Cheapest 25%
EV/EBITDA 2.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 45
FUTURE (revenue growth)100 · sector 12
PAST (return on equity)0 · sector 16
HEALTH (low debt)0 · sector 83
DIVIDEND (yield)0 · sector 63

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Real Estate Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
CBRE Group CBRE $134.55 $91.06 −32%
KE Holdings 2423 HK$42.92 HK$17.16 −60%
Cellnex Telecom, S.A CLNX €23.99 €23.94 +0%
Swire Properties Limited 1972 HK$24.32 HK$13.39 −45%
Vonovia SE VNA €17.17 €36.55 +113%
Jones Lang LaSalle Incorporated JLL $321.91 $540.65 +68%
Wharf Real Estate Investment Company 1997 HK$30.54 HK$27.42 −10%
CoStar Group CSGP $26.95 $6.19 −77%
China Resources Mixc Lifestyle Services Limited 1209 HK$37.00 HK$56.36 +52%
CapitaLand Investment Limited 9CI 2.60 SGD 0.5600 SGD −78%

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Cite: Fair Value Calculator (2026). "Pacific Century Premium Developments Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0432

Frequently asked questions

Is Pacific Century Premium Developments Ltd (0432) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.3300 versus a price of HK$0.2110, about +56% upside (undervalued).
What is the fair value of 0432?
Our model-based fair value for Pacific Century Premium Developments Ltd is HK$0.3300 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.2110.
What is the quality score of 0432?
Pacific Century Premium Developments Ltd 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 price target for Pacific Century Premium Developments Ltd (0432)?
Our model-based price target is the fair value of HK$0.3300 (as of Sep 27, 2026) from 3 valuation models. Cautious scenario HK$0.1700, optimistic scenario HK$0.4400. It is a calculation from audited fundamentals, not an analyst target.
What is the Pacific Century Premium Developments Ltd stock forecast for 2026?
Our models put fair value at HK$0.3300, about +56% upside versus a price of HK$0.2110 (undervalued). Cautious scenario HK$0.1700, optimistic scenario HK$0.4400. The calculation is refreshed regularly with new filings.
What is the revenue of Pacific Century Premium Developments Ltd (0432)?
Pacific Century Premium Developments Ltd reported trailing-twelve-month revenue of about HK$1.0B (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Pacific Century Premium Developments Ltd (0432)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pacific Century Premium Developments Ltd it is HK$0.3300 per share (as of Sep 27, 2026), against a price of HK$0.2110. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Pacific Century Premium Developments Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0432 trades below its calculated fair value: price HK$0.2110, fair value HK$0.3300, a gap of about +56% (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 0432?
No. The price is what the market pays today (HK$0.2110); the fair value is what the company's own numbers justify (HK$0.3300). For Pacific Century Premium Developments Ltd the two are HK$0.1190 per share apart. That gap is exactly why we show both numbers side by side.
How much is Pacific Century Premium Developments Ltd worth?
The market values Pacific Century Premium Developments Ltd at about HK$430M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.2110; our models calculate a fair value of HK$0.3300 per share.
What do the bullish and bearish scenarios say about 0432?
Our models span a range for Pacific Century Premium Developments Ltd: cautious scenario HK$0.1700, base HK$0.3300, optimistic HK$0.4400 per share (as of Sep 27, 2026, price HK$0.2110). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Pacific Century Premium Developments Ltd (0432)?
Balance-sheet figures for Pacific Century Premium Developments Ltd (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 0432 from its 52-week high?
Pacific Century Premium Developments Ltd trades at HK$0.2110, about 41% below its 52-week high of HK$0.3600 and 12% above the low of HK$0.1880 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.3300 is for.
Which stocks are comparable to Pacific Century Premium Developments Ltd?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Cellnex Telecom, S.A, Swire Properties Limited, 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 Pacific Century Premium Developments Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.2110, calculated fair value HK$0.3300 (+56%), Quality Score 42/100, 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 0432 calculated?
We run Pacific Century Premium Developments 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$0.3300, 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 14.7 % above its aggregate fair value. Pacific Century Premium Developments Ltd currently trades 36 % 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 Pacific Century Premium Developments Ltd (0432)?
The closing price on Sep 30, 2026 was HK$0.2110. Our model-based fair value is HK$0.3300, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pacific Century Premium Developments Ltd right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. 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$0.4400) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Pacific Century Premium Developments Ltd

How large is the market capitalisation of Pacific Century Premium Developments Ltd (0432)?
The market capitalisation of Pacific Century Premium Developments Ltd is HK$430M (≈ $54.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Pacific Century Premium Developments Ltd (0432)?
The price-to-sales ratio of Pacific Century Premium Developments Ltd is 0.42 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Pacific Century Premium Developments Ltd (0432)?
Earnings per share at Pacific Century Premium Developments Ltd are HK$−0.1200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Pacific Century Premium Developments Ltd (0432)?
The net margin of Pacific Century Premium Developments Ltd is −6.6% (fiscal year 2025). 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 Pacific Century Premium Developments Ltd (0432)?
The return on equity (ROE) of Pacific Century Premium Developments Ltd is −355% (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 Pacific Century Premium Developments Ltd (0432)?
On an EBIT basis the return on assets of Pacific Century Premium Developments Ltd is −1.1% (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 Pacific Century Premium Developments Ltd (0432)?
The operating margin of Pacific Century Premium Developments Ltd is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pacific Century Premium Developments Ltd (0432)?
Revenue at Pacific Century Premium Developments Ltd is growing +35.0% versus a year earlier (3y avg +23.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Pacific Century Premium Developments Ltd (0432) generate?
The free cash flow of Pacific Century Premium Developments Ltd is −HK$406M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Pacific Century Premium Developments Ltd (0432) carry?
The net debt of Pacific Century Premium Developments Ltd is HK$8.5B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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