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Kasen International Holdings Ltd (0496) fair value: what the stock is really worth

As of Sep 29, 2026: fair value of Kasen International Holdings Ltd HK$0.37, price HK$0.18, upside +107.9%, quality 33 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

Consumer Cyclical · HK · ISIN KYG5216Q1047

KI Thin data Sep 27, 2026

Kasen International Holdings Ltd

0496 · HK

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

✓Fair value HK$0.3700 · Strongly undervalued (+107.9%)
!Quality 33/100
!Weak Growth (revenue 5y −2.5 %/yr)
!Thin margins · 3.1% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (8/12)
!Narrow moat 23/100
!Evidence only low, so the estimate is less certain
!Weak on future: 2 out of 100
!Weak on past: 7 out of 100

What runs behind every stock

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

Price vs Fair Value

HK$1.19 HK$0.1640 Fair Value HK$0.3700 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$0.1640 – HK$1.19 · fair‑value band HK$0.2600 – HK$0.4800 · the HK$0.1780 price screens below the HK$0.3700 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Kasen International Holdings Limited, an investment holding company, engages in manufacturing and trading of upholstered furniture in the United States, the People's Republic of China, Hong Kong, Cambodia, Europe, and internationally. It operates through Manufacturing and Trading of Upholstered Furniture; Properties Development; and Others segments.

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Kasen International Holdings Limited, an investment holding company, engages in manufacturing and trading of upholstered furniture in the United States, the People's Republic of China, Hong Kong, Cambodia, Europe, and internationally. It operates through Manufacturing and Trading of Upholstered Furniture; Properties Development; and Others segments. The company is involved in production and sale of sofas, dining chairs, and other furniture products; production of furniture and glass fiber reinforces plastic products; wood processing; property development; lands development; and energy activities. It also engages in catering and entertainment services; travel related services; property management services; tourism resort-related operations comprising water parks, hot spring resort, hotels, and restaurants, and others; and provision of technology and application services. Kasen International Holdings Limited was founded in 1995 and is headquartered in Haining, the People's Republic of China.

Stock analysis

Kasen International Holdings Ltd (0496) currently trades at HK$0.1780, while our model-based Fair Value estimate is HK$0.3700, implying the stock looks roughly 51.9% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of HK$1.69 per share, and 12 of the 12 models we run sit above the HK$0.1780 price.

Bear case: the Earnings-Based group reads lowest at HK$0.2600, and 0 of the 12 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$0.2600 (bear) to HK$0.4800 (bull), the price of HK$0.1780 sits below 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 33/100 (below-average quality), in the Consumer Cyclical sector.

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

Kasen International Holdings Ltd reported revenue of 1.1B CNY in FY2025 versus 1.5B CNY in FY2021, a compound −7.4%/yr. Reported net income was 34.8M CNY in FY2025, compounding −37.0%/yr from FY2021.

Key figures

Market cap HK$367M (≈ $46.8M) · P/E ratio 10.0 · P/S ratio 0.31 · EPS (TTM) HK$0.0100 · Net margin 3.1% · Return on equity 1.7% · Return on assets (EBIT) 2.4% · Operating margin 6.5%.

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 61% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 29% fair-value upside, at 108%, 0496 screens cheaper than that median.

Fair Value models

Bear HK$0.2600 Fair Value HK$0.3700 Bull HK$0.4800
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0075 per share) are deliberately not added. 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
EPV HK$0.2000 HK$0.2800 HK$0.3500 73
ROIC Compounder HK$0.2000 HK$0.2800 HK$0.3500 70
Residual Income HK$1.70 HK$1.58 HK$1.50 68
All 12 models by family
Earnings-Based
Graham-Dodd HK$0.1500 HK$0.2600 HK$0.3200 64
EPV HK$0.2000 HK$0.2800 HK$0.3500 73
Multiples
P/E Multiple HK$0.3700 HK$0.4900 HK$0.6100 63
P/S Multiple HK$0.2800 HK$0.3800 HK$0.4700 58
P/B Multiple HK$0.2800 HK$0.3800 HK$0.4700 55
EV/EBIT HK$0.6400 HK$0.9600 HK$1.28 65
EV/EBITDA HK$0.7600 HK$1.11 HK$1.46 67
EV/Revenue HK$0.2900 HK$0.5400 HK$0.8000 52
Asset-Based
NCAV (Graham) HK$1.26 HK$1.69 HK$2.53 54
Economic Profit
Residual Income HK$1.70 HK$1.58 HK$1.50 68
ROIC Compounder HK$0.2000 HK$0.2800 HK$0.3500 70
Growth Earnings
Growth-Adj P/E HK$0.2600 HK$0.3700 HK$0.4800 65

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Quality Score breakdown

Overall quality 33/100

Of which business quality 34 · Market factors (momentum, volatility) 21

Profitability 15
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 43
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. 14/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.3%
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.
+8.8%
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.
−2.5%
Start year 2020 (pandemic). Over 10 years: −2.5% a year
Revenue growth 23 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.
−1.0%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
−25.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−25.6%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−33.7% vs −13.9%, slowing
Profit margin 2020 to 2025 ⓘ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% → 10%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 13.1%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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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.Furnishings, Fixtures & Appliances · 312 stocks

Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 33 · Bottom 25%
Fair Value upside +107.9% · Top 25%
Profitability
Return on equity (TTM) 1.7% · Below median
Return on assets 1.1% · Below median
Net margin (TTM) 3.1% · Above median
Operating margin (TTM) 6.5% · Above median
Growth and dividend
Revenue growth 0.4% · Above median
Balance sheet
Debt / equity 0.20× · Above median

Valuation Multiplesvs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 10.0× · Cheapest 25%
P/B 0.08× · Cheapest 25%
P/S (TTM) 0.28× · Cheapest 25%
EV/EBITDA 5.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 31
FUTURE (revenue growth)2 · sector 0
PAST (return on equity)7 · sector 19
HEALTH (low debt)90 · sector 98
DIVIDEND (yield)0 · sector 62

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.65 ¥129.21 +56%
King Slide Works Co 2059 12,350 TWD 4,427 TWD −64%
Gree Electric Appliances, Inc 000651 ¥38.50 ¥97.62 +154%
Haier Smart Home Co 600690 ¥20.14 ¥45.72 +127%
SharkNinja, Inc SN $177.74 $100.43 −43%
Somnigroup International Inc SGI $63.95 $31.80 −50%
Mohawk Industries, Inc MHK $125.16 $107.31 −14%
Hisense Home Appliances Group 000921 ¥26.36 ¥41.56 +58%
COWAY Co 021240 99,800 KRW 74,673 KRW −25%
Zhejiang Supor Co 002032 ¥39.23 ¥50.78 +29%

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Cite: Fair Value Calculator (2026). "Kasen International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0496

Frequently asked questions

Is Kasen International Holdings Ltd (0496) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.3700 versus a price of HK$0.1780, about +108% upside (undervalued).
What is the fair value of 0496?
Our model-based fair value for Kasen International Holdings Ltd is HK$0.3700 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.1780.
What is the quality score of 0496?
Kasen International Holdings Ltd has a Quality Score of 33/100. 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 Kasen International Holdings Ltd (0496)?
Our model-based price target is the fair value of HK$0.3700 (as of Sep 27, 2026) from 12 valuation models. Cautious scenario HK$0.2600, optimistic scenario HK$0.4800. It is a calculation from audited fundamentals, not an analyst target.
What is the Kasen International Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.3700, about +108% upside versus a price of HK$0.1780 (undervalued). Cautious scenario HK$0.2600, optimistic scenario HK$0.4800. The calculation is refreshed regularly with new filings.
What is the revenue of Kasen International Holdings Ltd (0496)?
Kasen International Holdings Ltd reported trailing-twelve-month revenue of about 1.1B CNY (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Kasen International Holdings Ltd (0496)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kasen International Holdings Ltd it is HK$0.3700 per share (as of Sep 27, 2026), against a price of HK$0.1780. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Kasen International Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0496 trades below its calculated fair value: price HK$0.1780, fair value HK$0.3700, a gap of about +108% (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 0496?
No. The price is what the market pays today (HK$0.1780); the fair value is what the company's own numbers justify (HK$0.3700). For Kasen International Holdings Ltd the two are HK$0.1920 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kasen International Holdings Ltd worth?
The market values Kasen International Holdings Ltd at about HK$367M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.1780; our models calculate a fair value of HK$0.3700 per share.
What do the bullish and bearish scenarios say about 0496?
Our models span a range for Kasen International Holdings Ltd: cautious scenario HK$0.2600, base HK$0.3700, optimistic HK$0.4800 per share (as of Sep 27, 2026, price HK$0.1780). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0496?
Kasen International Holdings Ltd trades at a price-to-earnings ratio of 10.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.3700 is built from several models across several years. Other multiples: P/B 0.1, P/S 0.3, EV/EBITDA 5.0.
How solid is the balance sheet of Kasen International Holdings Ltd (0496)?
Balance-sheet figures for Kasen International Holdings Ltd (as of Sep 27, 2026): return on equity 1.7%, debt of 0.20 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is 0496 from its 52-week high?
Kasen International Holdings Ltd trades at HK$0.1780, about 61% below its 52-week high of HK$0.4550 and 9% above the low of HK$0.1640 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.3700 is for.
Which stocks are comparable to Kasen International Holdings Ltd?
From the same area (Consumer Cyclical) we also value Midea Group, King Slide Works Co, Gree Electric Appliances, Inc, Haier Smart Home Co, 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 Kasen International Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.1780, calculated fair value HK$0.3700 (+108%), Quality Score 33/100, from 12 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 0496 calculated?
We run Kasen International Holdings Ltd through 12 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$0.3700, 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. Kasen International Holdings Ltd currently trades 52 % 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 Kasen International Holdings Ltd (0496)?
The closing price on Sep 29, 2026 was HK$0.1780. Our model-based fair value is HK$0.3700, about +108% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kasen International Holdings Ltd right now?
The large discount to fair value meets weak quality (33/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$0.2600). The market is more pessimistic than our downside scenario. 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$0.2600 to HK$0.4800) leaves room in how you read the outcome.

Key figures of Kasen International Holdings Ltd

How large is the market capitalisation of Kasen International Holdings Ltd (0496)?
The market capitalisation of Kasen International Holdings Ltd is HK$367M (≈ $46.8M). 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 Kasen International Holdings Ltd (0496)?
The price-to-sales ratio of Kasen International Holdings Ltd is 0.31 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kasen International Holdings Ltd (0496)?
Earnings per share at Kasen International Holdings Ltd are HK$0.0100 (price ÷ EPS = P/E 10.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kasen International Holdings Ltd (0496)?
The net margin of Kasen International Holdings Ltd is 3.1% (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 Kasen International Holdings Ltd (0496)?
The return on equity (ROE) of Kasen International Holdings Ltd is 1.7% (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 Kasen International Holdings Ltd (0496)?
On an EBIT basis the return on assets of Kasen International Holdings Ltd is 2.4% (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 Kasen International Holdings Ltd (0496)?
The operating margin of Kasen International Holdings Ltd is 6.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kasen International Holdings Ltd (0496)?
Revenue at Kasen International Holdings Ltd is growing +0.4% versus a year earlier (3y avg +8.8%). 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 Kasen International Holdings Ltd (0496)?
Earnings per share at Kasen International Holdings Ltd are growing −56.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kasen International Holdings Ltd (0496) generate?
The free cash flow of Kasen International Holdings Ltd is −312M CNY (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 Kasen International Holdings Ltd (0496) carry?
The net debt of Kasen International Holdings Ltd is 736M CNY (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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