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United Energy Group (0467) Fair Value & Analysis

Energy · HK · Market cap HK$8.6B

UE United Energy Group 0467 · HK
PriceHK$0.3550
Fair ValueHK$0.7400
Upside+108.5%
Quality53/100
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Expensive Growth
Thin margins · 5.8% net margin
Low debt · generates free cash flow
Ranks above peers (14/14)
Narrow moat 39/100
Evidence: High Range HK$0.5500 – HK$0.9200 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 2 days ago

Share price −1.4% over the past month.

A solid business, screening 108% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$0.5500). The market is more pessimistic than our downside scenario.
  • Solid quality (53/100) 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$1.16 HK$0.2358 Fair Value HK$0.7400 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$0.2358 – HK$1.16 · fair‑value band HK$0.5500 – HK$0.9200 · the HK$0.3550 price screens below the HK$0.7400 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

United Energy Group (0467) currently trades at HK$0.3550, while our model-based Fair Value estimate is HK$0.7400, implying the stock looks roughly 108.5% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Energy 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: high), always confirm before acting.

Over the trailing twelve months, United Energy Group generated revenue of HK$19.2B at a net margin of 5.8%. Revenue grew 18.7% year over year. It earns a return on equity of 8.4%. Net debt stands at HK$146M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.5500 (bear case) to HK$0.9200 (bull case); at HK$0.3550, 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 68% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at 108%, 0467 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$0.6100 HK$1.13 HK$1.96 80
Residual Income HK$0.4300 HK$0.4600 HK$0.5300 76
Rev-Margin DCF HK$0.7800 HK$1.42 HK$2.75 74
All 26 models by family
DCF Models
FCF DCF HK$0.6500 HK$0.9800 HK$2.00 38
Owner Earnings HK$0.4600 HK$0.9600 HK$1.99 31
5Y Revenue Exit HK$0.7100 HK$1.25 HK$2.38 39
5Y EBITDA Exit HK$1.12 HK$2.07 HK$3.95 41
5Y P/E Exit HK$0.5500 HK$1.14 HK$1.94 38
10Y Revenue Exit HK$0.6700 HK$1.54 HK$2.12 36
10Y EBITDA Exit HK$0.9900 HK$2.40 HK$4.92 37
10Y P/E Exit HK$0.5900 HK$1.20 HK$2.20 35
Earnings-Based
Graham-Dodd HK$0.3000 HK$2.06 HK$2.89 54
Lynch FV HK$1.06 HK$1.52 HK$1.98 50
PEG = 1.0 HK$1.06 HK$1.52 HK$1.98 46
EPV HK$0.7200 HK$0.8300 HK$0.9200 59
Dividend Discount
Gordon GGM HK$0.4400 HK$0.8800 HK$1.33 70
DDM Multi-Stage HK$0.4400 HK$0.7600 HK$0.9300 61
Multiples
P/E Multiple HK$0.4600 HK$0.6100 HK$0.7600 63
P/S Multiple HK$0.5500 HK$0.7400 HK$0.9200 58
P/B Multiple HK$0.5500 HK$0.7400 HK$0.9200 55
EV/EBIT HK$0.6600 HK$0.8700 HK$1.08 53
EV/EBITDA HK$1.26 HK$1.67 HK$2.08 54
EV/Revenue HK$0.6700 HK$0.9300 HK$1.20 43
Asset-Based
NCAV (Graham) HK$0.2600 HK$0.3400 HK$0.5100 50
Growth DCF
Growth DCF HK$0.6100 HK$1.13 HK$1.96 80
Rev-Margin DCF HK$0.7800 HK$1.42 HK$2.75 74
Economic Profit
Residual Income HK$0.4300 HK$0.4600 HK$0.5300 76
ROIC Compounder HK$0.9200 HK$1.31 HK$1.61 72
Growth Earnings
Growth-Adj P/E HK$1.25 HK$1.78 HK$2.32 68

Widest divergence: Growth Earnings (HK$1.78) versus Asset-Based (HK$0.3400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$19.2B
Revenue growth (YoY) +18.7%
Net margin 5.8%
Return on equity 8.4%
Free cash flow HK$986M FY2025
P/E ratio 8.4 as of Jul 2, 2026
More key figures
Operating margin 11.0%
EPS (TTM) HK$0.0300
EPS growth (YoY) -31.2%
Net debt HK$146M FY2025

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

Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 20

Profitability 34
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 87
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

United Energy Group Limited, an investment holding company, engages in the upstream oil, natural gas, clean energy, and energy trading businesses in Hong Kong, Pakistan, Singapore, Egypt, Iraq, and the United Arab Emirates. It operates through three segments: Exploration and Production, Trading, and Clean Energy Business.

Full company description

United Energy Group Limited, an investment holding company, engages in the upstream oil, natural gas, clean energy, and energy trading businesses in Hong Kong, Pakistan, Singapore, Egypt, Iraq, and the United Arab Emirates. It operates through three segments: Exploration and Production, Trading, and Clean Energy Business. The company is involved in trading of energy products, including petrochemicals; exploration, development, and production of crude oil and natural gas; development and operation of wind power project; and construction and operation of solar power generation facility, as well as sales of electricity generated from wind power and solar power. It also provides administrative and group financing support services; and clean energy related services. United Energy Group Limited was incorporated in 1992 and is headquartered in Central, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

United Energy Group reported revenue of HK$19.2B in FY2025 versus HK$7.4B in FY2021, a compound +26.7%/yr. Reported net income was HK$1.1B in FY2025, compounding −13.6%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$19.2B
Latest YoY
+9.5%
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.
+21.3%
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.
+25.3%
Avg. growth/yr (26Y) 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.
+16.4%
Revenue +26.7%/yr
FY21 HK$7.4B
FY22 HK$10.8B
FY23 HK$13.6B
FY24 HK$17.5B
FY25 HK$19.2B
Net income −13.6%/yr
FY21 HK$2.0B
FY22 HK$2.6B
FY23 −HK$1.7B
FY24 HK$1.6B
FY25 HK$1.1B
Character of growth · EPS growth decomposed (2014-2025) −4.0 % p.a.
Revenue per share +10.4 pp

of which total revenue +14.5 pp · buybacks/dilution −4.1 pp

EBIT margin −12.4 pp
Tax rate +1.4 pp
Residual (interest, one-offs) −3.4 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).

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Cite: Fair Value Calculator (2026). "United Energy Group Fair Value". https://www.fairvalue-calculator.com/stock/0467

Peer Group

Oil & Gas E&P · 312 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 53 · Above median
Fair Value upside +109% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 19% · Above median
Dividend yield (TTM) 15.0% · Top 25%
Debt / equity 0.21× · Lower than median

Valuation Multiples vs Oil & Gas E&P median · lower = cheaper

P/E (TTM) 8.4× · Cheaper than 75% of peers
P/B 0.65× · Cheaper than median
P/S (TTM) 0.45× · Cheaper than 75% of peers
P/FCF 1.1× · Cheaper than 75% of peers
EV/EBITDA 1.1× · 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.

VALUE 100 · sector 11
FUTURE 94 · sector 0
PAST 34 · sector 0
HEALTH 90 · sector 87
DIVIDEND 100 · sector 66

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
CNOOC Limited 600938 ¥32.85 ¥32.55 -1%
ConocoPhillips explores for, COP $125.92 $90.15 -28%
Canadian Natural Resources Limited CNQ $47.57 $31.14 -35%
EOG Resources, Inc EOG $143.14 $130.19 -9%
Occidental Petroleum Corporation OXY $58.55 $30.06 -49%
Diamondback Energy, Inc FANG $201.71 $105.24 -48%
Devon Energy Corporation DVN $44.86 $27.06 -40%
Woodside Energy Group WDS A$32.55 A$20.71 -36%
EQT Corporation EQT $54.06 $42.85 -21%
Texas Pacific Land Corporation TPL $342.77 $77.26 -77%

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Frequently asked questions

Is United Energy Group (0467) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.7400 versus a price of HK$0.3550, about +108% (undervalued).
What is the fair value of 0467?
Our model-based fair value for United Energy Group is HK$0.7400 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.3550.
What is the quality score of 0467?
United Energy Group has a Quality Score of 53/100. 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 United Energy Group (0467)?
United Energy Group reported trailing-twelve-month revenue of about HK$19.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0467?
The net profit margin of United Energy Group is about 5.8%, meaning it keeps roughly 5.8% 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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