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Boyaa Interactive International Limited (0434) Fair Value & Analysis

Communication Services · HK · Market cap HK$1.4B

BI Boyaa Interactive International Limited 0434 · HK
PriceHK$2.28
Fair ValueHK$1.20
Upside-47.4%
Quality32/100
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Mixed Growth
Loss-making · -101.2% net margin
Low debt · generates free cash flow
1.79% dividend yield
Trails peers (3/11)
Narrow moat 0/100
Evidence: High Range HK$0.8800 – HK$1.67 Share as image

Fair value as of: Aug 13, 2026

From 15 valuation models · updated 2 days ago

Share price +10.7% over the past month.

Below-average quality, and screening another 47% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$1.67). The favourable scenario is already priced in.
  • Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (HK$0.8800 to HK$1.67) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$8.71 HK$0.3135 Fair Value HK$1.20 Mar 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$0.3135 – HK$8.71 · fair‑value band HK$0.8800 – HK$1.67 · the HK$2.28 price screens above the HK$1.20 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Boyaa Interactive International Limited (0434) currently trades at HK$2.28, while our model-based Fair Value estimate is HK$1.20, implying the stock looks roughly 47.4% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Communication Services 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: high).

Trailing-twelve-month revenue stands at HK$489M. Revenue grew 19.1% year over year. It earns a return on equity of -20.3%. The balance sheet holds a net cash position of HK$50.0M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.8800 (bear case) to HK$1.67 (bull case); at HK$2.28, the current price sits above 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 75% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -25% fair-value upside, at -47%, 0434 screens richer 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$0.4700 HK$0.5800 HK$0.7600 80
Rev-Margin DCF HK$0.9300 HK$1.44 HK$2.08 74
ROIC Compounder HK$0.8300 HK$0.9400 HK$1.03 72
All 15 models by family
DCF Models
FCF DCF HK$0.4600 HK$0.5800 HK$0.7800 38
5Y Revenue Exit HK$0.9300 HK$1.44 HK$2.18 39
5Y EBITDA Exit HK$0.9900 HK$1.54 HK$2.28 41
10Y Revenue Exit HK$0.6900 HK$1.07 HK$1.53 36
10Y EBITDA Exit HK$0.7500 HK$1.14 HK$1.58 37
Earnings-Based
EPV HK$0.8300 HK$0.9400 HK$1.03 59
Dividend Discount
Gordon GGM HK$0.8100 HK$0.9800 HK$1.14 70
DDM Multi-Stage HK$0.8100 HK$1.03 HK$1.27 61
Multiples
EV/EBIT HK$1.92 HK$2.55 HK$3.19 53
EV/EBITDA HK$1.60 HK$2.12 HK$2.65 54
EV/Revenue HK$1.38 HK$1.96 HK$2.54 43
Asset-Based
NCAV (Graham) HK$1.99 HK$2.66 HK$3.97 50
Growth DCF
Growth DCF HK$0.4700 HK$0.5800 HK$0.7600 80
Rev-Margin DCF HK$0.9300 HK$1.44 HK$2.08 74
Economic Profit
ROIC Compounder HK$0.8300 HK$0.9400 HK$1.03 72

Widest divergence: Asset-Based (HK$2.66) versus Growth DCF (HK$0.5800). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$489M
Revenue growth (YoY) +19.1%
Net margin -101%
Return on equity -20.3%
Free cash flow HK$37.4M FY2025
Operating margin -428%
More key figures
EPS (TTM) HK$-0.6829
Dividend yield 1.8%
EPS growth (YoY) +2,019%
Net cash HK$50.0M FY2025

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

Quality Score breakdown

Overall quality 32/100

Of which business quality 39 · Market factors (momentum, volatility) 22

Profitability 4
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 21
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 60
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

Boyaa Interactive International Limited, an investment holding company, develops and operates online card and board games in the People's Republic of China and Hong Kong. The company operates through three segments: Online game related business, Web3 related business, and Property investment business.

Full company description

Boyaa Interactive International Limited, an investment holding company, develops and operates online card and board games in the People's Republic of China and Hong Kong. The company operates through three segments: Online game related business, Web3 related business, and Property investment business. It provides mobile and computer games, such as Texas Hold'em, Happy Poker Slots, Fight the Landlord, Big Two Poker, Chinese Chess, and Mahjong Collection, and other casual puzzle games. The company also offers advisory services relating to online game applications. In addition, it engages in crypto-currencies related investments. The company was founded in 2004 and is headquartered in Sheung Wan, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Boyaa Interactive International Limited reported revenue of HK$467M in FY2025 versus HK$366M in FY2021, a compound +6.3%/yr. Reported net income was −HK$239M in FY2025.

Growth Quality 48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$467M
Latest YoY
+2.3%
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.
+7.6%
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.
+5.9%
Avg. growth/yr (15Y) 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.
+7.8%
Revenue +6.3%/yr
FY21 HK$366M
FY22 HK$375M
FY23 HK$395M
FY24 HK$457M
FY25 HK$467M
Net income
FY21 −HK$4.4M
FY22 HK$64.2M
FY23 HK$117M
FY24 HK$884M
FY25 −HK$239M
Character of growth · EPS growth decomposed (2014-2025) +7.9 % p.a.
Revenue per share −6.8 pp

of which total revenue −7.6 pp · buybacks/dilution +0.8 pp

EBIT margin +16.0 pp
Tax rate +0.0 pp
Residual (interest, one-offs) −1.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

0434 screens 47% overvalued. Compare with NetEase, Inc →

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Cite: Fair Value Calculator (2026). "Boyaa Interactive International Limited Fair Value". https://www.fairvalue-calculator.com/stock/0434

Peer Group

Electronic Gaming & Multimedia · 155 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 32 · Bottom 25%
Fair Value upside −47% · Below median
Return on assets -13% · Bottom 25%
Net margin (TTM) -101% · Bottom 25%
Revenue growth 19% · Above median
Dividend yield (TTM) 1.8% · Below median
Debt / equity 0.02× · Higher than median

Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.36× · Cheaper than median
P/FCF 4.7× · Pricier than median

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 0 · sector 21
FUTURE 96 · sector 7
PAST 0 · sector 9
HEALTH 99 · sector 99
DIVIDEND 36 · sector 54

VALUE 0: the price sits above our fair-value range.

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 Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NetEase, Inc 9999 HK$192.50 HK$262.75 +36%
Electronic Arts Inc EA $209.70 $76.57 -63%
Take-Two Interactive Software, Inc TTWO $243.00 $60.20 -75%
Roblox Corporation RBLX $36.22 $21.20 -41%
Zhejiang Century Huatong Group 002602 ¥14.29 ¥14.68 +3%
KRAFTON, Inc 259960 234,500 KRW 356,218 KRW +52%
Giant Network Group 002558 ¥28.57 ¥15.50 -46%
International Games System Co 3293 762.00 TWD 568.16 TWD -25%
37 Interactive Entertainment Network Technology Group 002555 ¥19.21 ¥22.29 +16%
Kingnet Network Co 002517 ¥17.36 ¥12.86 -26%

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Frequently asked questions

Is Boyaa Interactive International Limited (0434) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.20 versus a price of HK$2.28, about −47% (overvalued).
What is the fair value of 0434?
Our model-based fair value for Boyaa Interactive International Limited is HK$1.20 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.28.
What is the quality score of 0434?
Boyaa Interactive International Limited has a Quality Score of 32/100. 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 Boyaa Interactive International Limited (0434)?
Boyaa Interactive International Limited reported trailing-twelve-month revenue of about HK$489M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0434?
The net profit margin of Boyaa Interactive International Limited is about -101.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Boyaa Interactive International Limited pay a dividend?
Boyaa Interactive International Limited currently shows a dividend yield of about 1.79% relative to its recent price (as of Aug 13, 2026).

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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