Boyaa Interactive Intl Ltd (0434) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Boyaa Interactive Intl Ltd HK$1.08, price HK$3.14, upside -65.6%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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$0.3135 – HK$8.71 · fair‑value band HK$0.7800 – HK$1.49 · the HK$3.14 price screens above the HK$1.08 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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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.
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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.
Stock analysis
Boyaa Interactive Intl Ltd (0434) currently trades at HK$3.14, while our model-based Fair Value estimate is HK$1.08, 65.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of HK$2.66 per share, and 0 of the 15 models we run sit above the HK$3.14 price.
Bear case: the Growth DCF group reads lowest at HK$0.5100, and 15 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.7800 (bear) to HK$1.49 (bull), the price of HK$3.14 sits above 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 32/100 (below-average quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Boyaa Interactive Intl Ltd 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.
Key figures
Market cap HK$2.2B (≈ $277M) · P/S ratio 2.84 · EPS (TTM) HK$−0.6829 · Dividend yield 1.2% · Net margin −51.0% · Return on equity −20.3% · Return on assets (EBIT) 9.1% · Operating margin −428%.
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 59% below its 52-week high and 64% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 44% fair-value upside, at −66%, 0434 screens richer than that median.
Fair Value models
Bear HK$0.7800Fair Value HK$1.08Bull HK$1.49
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.
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.48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.3%
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.
+7.6%
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.
+5.9%
Start year 2020 (pandemic). Over 10 years: −5.4% a year
Revenue growth 15 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.
+7.8%
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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.
9.0% (2019) → 225.0% (2024)
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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+35.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +32.3% a year for the price.
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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.Electronic Gaming & Multimedia · 142 stocks
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Is Boyaa Interactive Intl Ltd (0434) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$1.08 versus a price of HK$3.14, about −66% upside (overvalued).
What is the fair value of 0434?
Our model-based fair value for Boyaa Interactive Intl Ltd is HK$1.08 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$3.14.
What is the quality score of 0434?
Boyaa Interactive Intl Ltd 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 price target for Boyaa Interactive Intl Ltd (0434)?
Our model-based price target is the fair value of HK$1.08 (as of Sep 27, 2026) from 15 valuation models. Cautious scenario HK$0.7800, optimistic scenario HK$1.49. It is a calculation from audited fundamentals, not an analyst target.
What is the Boyaa Interactive Intl Ltd stock forecast for 2026?
Our models put fair value at HK$1.08, about −66% upside versus a price of HK$3.14 (overvalued). Cautious scenario HK$0.7800, optimistic scenario HK$1.49. The calculation is refreshed regularly with new filings.
What is the revenue of Boyaa Interactive Intl Ltd (0434)?
Boyaa Interactive Intl Ltd reported trailing-twelve-month revenue of about HK$489M (latest available figure, as of Sep 27, 2026).
Does Boyaa Interactive Intl Ltd pay a dividend?
Boyaa Interactive Intl Ltd currently shows a dividend yield of about 1.17% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Boyaa Interactive Intl Ltd (0434)?
For today's price to be fair in a discounted-cash-flow model, Boyaa Interactive Intl Ltd would have to grow free cash flow by +35.1 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.9 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 0434 use?
Our models discount Boyaa Interactive Intl Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.44, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Boyaa Interactive Intl Ltd that is +35.1 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Boyaa Interactive Intl Ltd (0434) delivered so far?
Over the past 5 years revenue at Boyaa Interactive Intl Ltd grew +5.9 % a year. The price currently implies +35.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Boyaa Interactive Intl Ltd (0434) growing?
The median revenue growth in the sector is +2.2 % a year. That is the yardstick for the growth priced into Boyaa Interactive Intl Ltd (+35.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Boyaa Interactive Intl Ltd (0434)?
The free-cash-flow yield on the price is 1.72 %: that much free cash flow Boyaa Interactive Intl Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Boyaa Interactive Intl Ltd (0434)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Boyaa Interactive Intl Ltd it is HK$1.08 per share (as of Sep 27, 2026), against a price of HK$3.14. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Boyaa Interactive Intl Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0434 trades above its calculated fair value: price HK$3.14, fair value HK$1.08, a gap of about −66% (overvalued). 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 0434?
No. The price is what the market pays today (HK$3.14); the fair value is what the company's own numbers justify (HK$1.08). For Boyaa Interactive Intl Ltd the two are HK$2.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is Boyaa Interactive Intl Ltd worth?
The market values Boyaa Interactive Intl Ltd at about HK$2.2B (market capitalisation, as of Sep 27, 2026). Per share that is HK$3.14; our models calculate a fair value of HK$1.08 per share.
What do the bullish and bearish scenarios say about 0434?
Our models span a range for Boyaa Interactive Intl Ltd: cautious scenario HK$0.7800, base HK$1.08, optimistic HK$1.49 per share (as of Sep 27, 2026, price HK$3.14). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Boyaa Interactive Intl Ltd (0434)?
Balance-sheet figures for Boyaa Interactive Intl Ltd (as of Sep 27, 2026): return on equity −20.3%, debt of 0.02 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 0434 from its 52-week high?
Boyaa Interactive Intl Ltd trades at HK$3.14, about 59% below its 52-week high of HK$7.65 and 64% above the low of HK$1.91 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$1.08 is for.
Which stocks are comparable to Boyaa Interactive Intl Ltd?
From the same area (Communication Services) we also value NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, Zhejiang Century Huatong Group, 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 Boyaa Interactive Intl Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$3.14, calculated fair value HK$1.08 (−66%), Quality Score 32/100, from 15 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 0434 calculated?
We run Boyaa Interactive Intl Ltd through 15 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$1.08, 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. Boyaa Interactive Intl Ltd itself currently trades above fair value. 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 Boyaa Interactive Intl Ltd (0434)?
The closing price on Sep 29, 2026 was HK$3.14. Our model-based fair value is HK$1.08, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Boyaa Interactive Intl Ltd right now?
The price sits above even our optimistic bull case (HK$1.49). 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. 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$0.7800 to HK$1.49) leaves room in how you read the outcome.
Where does the earnings growth of Boyaa Interactive Intl Ltd (0434) come from?
Earnings per share at Boyaa Interactive Intl Ltd grew +7.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −6.8 %, EBIT margin +16.0 %, tax rate +0.0 %, residual (interest, one-offs) −0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Boyaa Interactive Intl Ltd
How large is the market capitalisation of Boyaa Interactive Intl Ltd (0434)?
The market capitalisation of Boyaa Interactive Intl Ltd is HK$2.2B (≈ $277M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Boyaa Interactive Intl Ltd (0434)?
The price-to-sales ratio of Boyaa Interactive Intl Ltd is 2.84 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Boyaa Interactive Intl Ltd (0434)?
Earnings per share at Boyaa Interactive Intl Ltd are HK$−0.6829. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Boyaa Interactive Intl Ltd (0434)?
The dividend yield of Boyaa Interactive Intl Ltd is 1.2%. 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 Boyaa Interactive Intl Ltd (0434)?
The net margin of Boyaa Interactive Intl Ltd is −51.0% (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 Boyaa Interactive Intl Ltd (0434)?
The return on equity (ROE) of Boyaa Interactive Intl Ltd is −20.3% (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 Boyaa Interactive Intl Ltd (0434)?
On an EBIT basis the return on assets of Boyaa Interactive Intl Ltd is 9.1% (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 Boyaa Interactive Intl Ltd (0434)?
The operating margin of Boyaa Interactive Intl Ltd is −428% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Boyaa Interactive Intl Ltd (0434)?
Revenue at Boyaa Interactive Intl Ltd is growing +19.1% versus a year earlier (3y avg +7.6%). 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 Boyaa Interactive Intl Ltd (0434)?
Earnings per share at Boyaa Interactive Intl Ltd are growing +20.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Boyaa Interactive Intl Ltd (0434) hold?
Boyaa Interactive Intl Ltd holds more cash than debt, HK$50.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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