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North Mining Shares Company Limited (0433) Fair Value & Analysis

Basic Materials · HK · Market cap HK$1.1B

NM North Mining Shares Company Limited 0433 · HK
PriceHK$0.0580
Fair ValueHK$0.1678
Upside+189.3%
Quality63/100
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Strengths

✓Trades 189% below our fair value of HK$0.1678
✓Solidly profitable · 19.8% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (11/12)

Risks

!Mixed Growth
!Evidence only medium, so the estimate is less certain
Mixed Growth
Solidly profitable · 19.8% net margin
Low debt · generates free cash flow
Ranks above peers (11/12)
Wide moat 95/100
Evidence: Medium Range HK$0.1293 – HK$0.2008 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 7 days ago

Fair value updated Aug 13, 2026, revised from HK$0.1524 to HK$0.1678 (+10.1%) since Aug 2, 2026. Share price −3.3% over the past month.

A solid business, screening 189% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$0.1293). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$0.2600 HK$0.0130 Fair Value HK$0.1678 Apr 2021 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$0.0130 – HK$0.2600 · fair‑value band HK$0.1293 – HK$0.2008 · the HK$0.0580 price screens below the HK$0.1678 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

North Mining Shares Company Limited (0433) currently trades at HK$0.0580, while our model-based Fair Value estimate is HK$0.1678, implying the stock looks roughly 189.3% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, North Mining Shares Company Limited generated revenue of HK$1.2B at a net margin of 19.8%. Revenue grew 49.0% year over year. The balance sheet holds a net cash position of HK$5.7M. The stock trades on a trailing P/E of 3.5 (as of Jul 1, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1293 (bear case) to HK$0.2008 (bull case); at HK$0.0580, the current price sits below 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 47% below its 52-week high and 93% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -55% fair-value upside, at 189%, 0433 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
Growth DCF HK$0.0900 HK$0.1500 HK$0.2600 80
Rev-Margin DCF HK$0.0900 HK$0.1700 HK$0.3000 74
ROIC Compounder HK$0.2300 HK$0.2800 HK$0.3200 72
All 24 models by family
DCF Models
FCF DCF HK$0.0900 HK$0.1400 HK$0.2800 38
Owner Earnings HK$0.2800 HK$0.5900 HK$1.15 31
5Y Revenue Exit HK$0.0900 HK$0.1600 HK$0.3000 39
5Y EBITDA Exit HK$0.2300 HK$0.4700 HK$0.9000 41
5Y P/E Exit HK$0.1600 HK$0.3400 HK$0.5900 38
10Y Revenue Exit HK$0.0900 HK$0.1700 HK$0.2600 36
10Y EBITDA Exit HK$0.1800 HK$0.4200 HK$0.8800 37
10Y P/E Exit HK$0.1300 HK$0.2900 HK$0.5800 35
Earnings-Based
Graham-Dodd HK$0.1000 HK$0.7200 HK$1.01 54
Lynch FV HK$0.2200 HK$0.3200 HK$0.4100 50
PEG = 1.0 HK$0.2200 HK$0.3200 HK$0.4100 46
EPV HK$0.2100 HK$0.2400 HK$0.2700 59
Multiples
P/E Multiple HK$0.1900 HK$0.2600 HK$0.3200 63
P/S Multiple HK$0.0900 HK$0.1200 HK$0.1400 58
P/B Multiple HK$0.0500 HK$0.0700 HK$0.0800 55
EV/EBIT HK$0.3300 HK$0.4400 HK$0.5500 53
EV/EBITDA HK$0.3100 HK$0.4100 HK$0.5100 54
EV/Revenue HK$0.0800 HK$0.1200 HK$0.1500 43
Asset-Based
NCAV (Graham) HK$0.0100 HK$0.0100 HK$0.0200 50
Growth DCF
Growth DCF HK$0.0900 HK$0.1500 HK$0.2600 80
Rev-Margin DCF HK$0.0900 HK$0.1700 HK$0.3000 74
Economic Profit
Residual Income HK$0.1100 HK$0.1800 HK$3.97 61
ROIC Compounder HK$0.2300 HK$0.2800 HK$0.3200 72
Growth Earnings
Growth-Adj P/E HK$0.2800 HK$0.3900 HK$0.5100 68

Widest divergence: Growth Earnings (HK$0.3900) versus Asset-Based (HK$0.0100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$1.2B
Revenue growth (YoY) +49.0%
Net margin 19.8%
Return on equity 13,104%
Free cash flow HK$106M FY2025
P/E ratio 3.5 as of Jul 1, 2026
More key figures
Operating margin 39.9%
EPS (TTM) HK$0.0100
Net cash HK$5.7M FY2025

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 56 · Market factors (momentum, volatility) 40

Profitability 88
Margins and returns on capital today
Quality Growth 86
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 3
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

North Mining Shares Company Limited, an investment holding company, engages in the exploitation, exploration, and production of molybdenum concentrate in the People's Republic of China. The company is also involved in property management operations. North Mining Shares Company Limited was incorporated in 1995 and is headquartered in Wan Chai, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

North Mining Shares Company Limited reported revenue of HK$1.2B in FY2025 versus HK$1.4B in FY2021, a compound −3.8%/yr. Reported net income was HK$229M in FY2025.

Growth Quality 87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$1.2B
Latest YoY
+4.1%
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.
−3.7%
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.
+12.2%
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.
+10.2%
Revenue −3.8%/yr
FY21 HK$1.4B
FY22 HK$1.3B
FY23 HK$1.5B
FY24 HK$1.1B
FY25 HK$1.2B
Net income
FY21 −HK$358M
FY22 −HK$163M
FY23 −HK$1.6B
FY24 −HK$68.5M
FY25 HK$229M

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North Mining Shares Company Limited · Fair Value
HK$0.1678 +189%Fair Value
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Cite: Fair Value Calculator (2026). "North Mining Shares Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/0433

Peer Group

Chemicals · 332 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 63 · Top 25%
Fair Value upside +193% · Top 25%
Return on assets 21% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 40% · Top 25%
Revenue growth 49% · Top 25%

Valuation Multiples vs Chemicals median · lower = cheaper

P/E (TTM) 3.5× · Cheaper than 75% of peers
P/B 3.20× · Pricier than 75% of peers
P/S (TTM) 0.91× · Cheaper than median
P/FCF 1.3× · Cheaper than median
EV/EBITDA 1.7× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE100 · sector 19
PAST0 · sector 20
HEALTH100 · sector 94
DIVIDEND0 · sector 32

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

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 467.04 MXN -55%
PT Barito Pacific Tbk, BRPT 1,855 IDR 1,584 IDR -15%
LG Chem, Ltd 051910 275,500 KRW 587,755 KRW +113%
SRF Limited 503806 ₹2,609 ₹749.17 -71%
542812 542812 ₹4,709 ₹791.05 -83%
Navin Fluorine International Limited NAVINFLUOR ₹8,357 ₹2,146 -74%
Deepak Nitrite Limited DEEPAKNI ₹1,768 ₹824.05 -53%
523642 523642 ₹2,484 ₹1,745 -30%
506285 506285 ₹4,048 ₹1,589 -61%
Kansai Nerolac Paints Limited 500165 ₹209.25 ₹80.51 -62%

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Frequently asked questions

Is North Mining Shares Company Limited (0433) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1678 versus a price of HK$0.0580, about +189% (undervalued).
What is the fair value of 0433?
Our model-based fair value for North Mining Shares Company Limited is HK$0.1678 (as of Aug 13, 2026), built from audited fundamentals. The current price: HK$0.0580.
What is the quality score of 0433?
North Mining Shares Company Limited has a Quality Score of 63/100. 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 North Mining Shares Company Limited (0433)?
North Mining Shares Company Limited reported trailing-twelve-month revenue of about HK$1.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0433?
The net profit margin of North Mining Shares Company Limited is about 19.8%, meaning it keeps roughly 19.8% of revenue as net income. 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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