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Kasen International Holdings (0496) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$367M

KI Kasen International Holdings 0496 · HK
PriceHK$0.1750
Fair ValueHK$0.4800
Upside+174.3%
Quality33/100
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Weak Growth
Thin margins · 3.1% net margin
Low debt · negative free cash flow
Ranks above peers (8/12)
Narrow moat 23/100
Evidence: Medium Range HK$0.3600 – HK$0.6100 Share as image

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 2 days ago

Share price −7.9% over the past month.

Below-average quality, screening 174% undervalued on our models.

What matters 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$0.3600). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

HK$1.19 HK$0.1640 Fair Value HK$0.4800 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$0.1640 – HK$1.19 · fair‑value band HK$0.3600 – HK$0.6100 · the HK$0.1750 price screens below the HK$0.4800 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kasen International Holdings (0496) currently trades at HK$0.1750, while our model-based Fair Value estimate is HK$0.4800, implying the stock looks roughly 174.3% undervalued today. The Quality Score stands at 33/100 (below-average quality), in the Consumer Cyclical 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, Kasen International Holdings generated revenue of HK$1.1B at a net margin of 3.1%. Revenue grew 0.4% year over year. It earns a return on equity of 1.7%. Net debt stands at HK$736M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.3600 (bear case) to HK$0.6100 (bull case); at HK$0.1750, 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, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at 174%, 0496 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
Residual Income HK$1.38 HK$1.25 HK$0.8200 76
ROIC Compounder HK$0.1200 HK$0.1700 HK$0.2100 72
Growth-Adj P/E HK$0.2200 HK$0.3100 HK$0.4100 68
All 12 models by family
Earnings-Based
Graham-Dodd HK$0.1300 HK$0.2200 HK$0.2700 54
EPV HK$0.1200 HK$0.1700 HK$0.2100 59
Multiples
P/E Multiple HK$0.3100 HK$0.4200 HK$0.5200 63
P/S Multiple HK$0.2400 HK$0.3200 HK$0.4000 58
P/B Multiple HK$0.2400 HK$0.3200 HK$0.4000 55
EV/EBIT HK$0.5500 HK$0.8200 HK$1.09 53
EV/EBITDA HK$0.6500 HK$0.9500 HK$1.25 54
EV/Revenue HK$0.2500 HK$0.4600 HK$0.6800 43
Asset-Based
NCAV (Graham) HK$1.08 HK$1.45 HK$2.16 50
Economic Profit
Residual Income HK$1.38 HK$1.25 HK$0.8200 76
ROIC Compounder HK$0.1200 HK$0.1700 HK$0.2100 72
Growth Earnings
Growth-Adj P/E HK$0.2200 HK$0.3100 HK$0.4100 68

Widest divergence: Asset-Based (HK$1.45) versus Earnings-Based (HK$0.1700). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$1.1B
Revenue growth (YoY) +0.4%
Net margin 3.1%
Return on equity 1.7%
Free cash flow −HK$312M FY2025
P/E ratio 10.0 as of Jul 2, 2026
More key figures
Operating margin 6.5%
EPS (TTM) HK$0.0100
EPS growth (YoY) -56.9%
Net debt HK$736M FY2025

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

Quality Score breakdown

Overall quality 33/100

Of which business quality 34 · Market factors (momentum, volatility) 19

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 51
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 43
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.1B
Latest YoY
+8.3%
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.
+8.8%
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.
−2.5%
Avg. growth/yr (23Y) 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.
−1.0%
Revenue −7.4%/yr
FY21 HK$1.5B
FY22 HK$863M
FY23 HK$957M
FY24 HK$1.0B
FY25 HK$1.1B
Net income −37.0%/yr
FY21 HK$220M
FY22 HK$68.3M
FY23 HK$70.4M
FY24 HK$63.5M
FY25 HK$34.8M

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

Peer Group

Furnishings, Fixtures & Appliances · 315 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 33 · Bottom 25%
Fair Value upside +174% · Top 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 0% · Above median
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 10.0× · Cheaper than 75% of peers
P/B 0.09× · Cheaper than 75% of peers
P/S (TTM) 0.33× · Cheaper than median
EV/EBITDA 5.3× · Cheaper 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 100 · sector 20
FUTURE 2 · sector 0
PAST 7 · sector 19
HEALTH 90 · sector 98
DIVIDEND 0 · sector 62

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥84.34 ¥99.66 +18%
Gree Electric Appliances, Inc 000651 ¥40.23 ¥86.91 +116%
Haier Smart Home Co 600690 ¥21.79 ¥36.04 +65%
King Slide Works Co 2059 12,045 TWD 1,917 TWD -84%
Guangdong Songfa Ceramics Co 603268 ¥173.26 ¥38.83 -78%
Hisense Home Appliances Group 000921 ¥27.69 ¥50.62 +83%
Ecovacs Robotics Co 603486 ¥57.74 ¥54.14 -6%
Zhejiang Supor Co 002032 ¥41.68 ¥44.84 +8%
COWAY Co 021240 97,200 KRW 103,928 KRW +7%
Voltas Limited VOLTAS ₹1,290 ₹152.27 -88%

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Frequently asked questions

Is Kasen International Holdings (0496) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.4800 versus a price of HK$0.1750, about +174% (undervalued).
What is the fair value of 0496?
Our model-based fair value for Kasen International Holdings is HK$0.4800 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.1750.
What is the quality score of 0496?
Kasen International Holdings 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 revenue of Kasen International Holdings (0496)?
Kasen International Holdings reported trailing-twelve-month revenue of about HK$1.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0496?
The net profit margin of Kasen International Holdings is about 3.1%, meaning it keeps roughly 3.1% 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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