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CSI Properties Ltd (0497) fair value: what the stock is really worth

As of Nov 13, 2026: fair value (intrinsic value) of CSI Properties Ltd stock HK$0.27, price HK$0.13, upside +116.2%, quality 54 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Real Estate HK · ISIN BMG2581C1091

CP CSI Properties Ltd logo Thin data Nov 8, 2026

CSI Properties Ltd

0497 · HK

Cheap (54% below fair value) and solid company, but falling price: meets 2 of 3 rules.

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Fair value HK$0.2703 · Strongly undervalued 
Low debt 
Generates free cash flow 
Even on cautious assumptions the value is 12% above the price (HK$0.1394). 
Quality 54/100 
Mixed Growth (revenue 5y +13.2 %/yr in HKD) 
Mixed vs. peers (6/13) 
Falling price (downtrend) 
Loss-making · -57.7% net margin (TTM) 
Narrow moat 24/100
Thin data 
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

HK$0.4454 HK$0.0700 Fair Value HK$0.2703 Oct 2020 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range HK$0.0700 – HK$0.4454 · fair‑value band HK$0.1394 – HK$0.4267 · the HK$0.1250 price screens below the HK$0.2703 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

CSI Properties Limited, an investment holding company, engages in the property development, leasing, and investment activities in Hong Kong, Macau, and China.

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It operates through four segments: Commercial Property Holding, Residential Property Holding, Macau Property Holding, and Securities Investment.

The company is involved in the investment and trading of commercial and residential properties and properties, as well as securities trading and investment activities.

It also offers treasury management; management; property holding and leasing; and property management services, as well as issues bonds and sells securities. The company was incorporated in 1991 and is headquartered in Central, Hong Kong.

Stock analysis

CSI Properties Ltd (0497) currently trades at HK$0.1250, while our model-based Fair Value estimate is HK$0.2703, implying the stock looks roughly 54% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of HK$1.88 per share, and 6 of the 6 models we run sit above the HK$0.1250 price.

Bear case: the Asset-Based group reads lowest at HK$0.1300, and 0 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: HK$0.1394 (bear) to HK$0.4267 (bull), the price of HK$0.1250 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 54/100 (solid quality), in the Real Estate sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

CSI Properties Ltd reported revenue of HK$1.6B in FY2026 versus HK$703M in FY2022, a compound +23.1%/yr. Reported net income was −HK$825M in FY2026.

Key figures

Market cap HK$1.6B (≈ $200M) Micro · P/S ratio 1.17 · EPS (TTM) HK$−0.0500 · Net margin −57.7% · Return on equity −6.8% · Return on assets (EBIT) 0.5% (5-year average) · Operating margin 11.7% · Revenue (TTM) HK$1.4B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 24 out of 100 (medium confidence).

What moves the price

The share trades about 46% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −14% fair-value upside, at 116%, 0497 screens cheaper than that median.

Fair Value models

Bear HK$0.1394 Fair Value HK$0.2703 Bull HK$0.4267
Price HK$0.1250 · Upside +116.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF HK$1.06 HK$1.77 HK$3.53 76
Growth DCF HK$1.00 HK$1.88 HK$3.30 75
5Y Revenue Exit HK$0.6100 HK$1.20 HK$2.20 69
All 6 models by family
DCF Models
FCF DCF HK$1.06 HK$1.77 HK$3.53 76
5Y Revenue Exit HK$0.6100 HK$1.20 HK$2.20 69
10Y Revenue Exit HK$0.7400 HK$1.43 HK$2.26 65
Multiples
EV/Revenue HK$0.5700 HK$0.8300 HK$1.10 53
Asset-Based
NCAV (Graham) HK$0.0800 HK$0.1300 HK$0.1600 54
Growth DCF
Growth DCF HK$1.00 HK$1.88 HK$3.30 75

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 54/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 2
How much profit the company makes from its sales and capital
Quality Growth 93
Are margins and returns getting better?
Cashflow 100
Do the profits arrive as real cash?
Financial strength 48
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 83
How calm the share price moves, does not count
Price momentum 7
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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. 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+7.8%
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.
+13.2%
Start year 2021 (pandemic). Over 10 years: −3.1% a year
Revenue growth 18 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.
+8.0%
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.
30.5% (2020) → −37.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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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.Real Estate Services · 476 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 54 · Below median
Fair Value upside +116.2% · Top 25%
Profitability
Return on assets −3.8% · Bottom 25%
Net margin (12 months) −57.7% · Bottom 25%
Operating margin (12 months) 11.7% · Below median
Growth and dividend
Revenue growth (quarter YoY) 245.7% · Top 25%
Balance sheet
Debt / equity 0.42× · Above median

Valuation Multiplesvs Real Estate Services median · lower = cheaper

P/B 0.12× · Cheapest 25%
P/S (12 months) 1.10× · Cheaper than median
Price / free cash flow (fiscal year) 1.4× · Cheapest 25%
EV/EBITDA 81.6× · Priciest 25%
PEG 0.61× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 52
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)0 · sector 19
HEALTH (low debt)79 · sector 83
DIVIDEND (yield)0 · sector 65

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 Real Estate Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vonovia SE VNA €16.76 €36.43 +117% vs 0497
Jones Lang LaSalle Incorporated JLL $366.83 $529.78 +44% vs 0497
China Resources Mixc Lifestyle Services Limited 1209 HK$39.30 HK$55.32 +41% vs 0497
Cellnex Telecom, S.A CLNX €26.86 €23.64 −12% vs 0497
Wharf Real Estate Investment Company 1997 HK$31.60 HK$27.21 −14% vs 0497
CBRE Group CBRE $133.12 $89.81 −33% vs 0497
KE Holdings BEKE $17.86 $7.82 −56% vs 0497
CapitaLand Investment Limited 9CI 2.38 SGD 0.7800 SGD −67% vs 0497
Swire Properties Limited 1972 HK$25.68 HK$5.88 −77% vs 0497
CoStar Group CSGP $30.96 $6.09 −80% vs 0497

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CSI Properties Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "CSI Properties Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0497

Frequently asked questions

Is CSI Properties Ltd (0497) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of HK$0.2703 versus a price of HK$0.1250, about +116% upside (undervalued).
What is the fair value of 0497?
Our model-based fair value for CSI Properties Ltd is HK$0.2703 (as of Nov 8, 2026), built from audited fundamentals. The current price: HK$0.1250.
What is the quality score of 0497?
CSI Properties Ltd has a Quality Score of 54/100. 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 CSI Properties Ltd (0497)?
Our model-based price target is the fair value of HK$0.2703 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario HK$0.1394, optimistic scenario HK$0.4267. It is a calculation from audited fundamentals, not an analyst target.
What is the CSI Properties Ltd stock forecast for 2026?
Our models put fair value at HK$0.2703, about +116% upside versus a price of HK$0.1250 (undervalued). Cautious scenario HK$0.1394, optimistic scenario HK$0.4267. The calculation is refreshed regularly with new filings.
What is the revenue of CSI Properties Ltd (0497)?
CSI Properties Ltd reported trailing-twelve-month revenue of about HK$1.4B (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of CSI Properties Ltd (0497)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CSI Properties Ltd it is HK$0.2703 per share (as of Nov 8, 2026), against a price of HK$0.1250. It is the blended result of 6 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is CSI Properties Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 0497 trades below its calculated fair value: price HK$0.1250, fair value HK$0.2703, a gap of about +116% (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 0497?
No. The price is what the market pays today (HK$0.1250); the fair value is what the company's own numbers justify (HK$0.2703). For CSI Properties Ltd the two are HK$0.1453 per share apart. That gap is exactly why we show both numbers side by side.
How much is CSI Properties Ltd worth?
The market values CSI Properties Ltd at about HK$1.6B (market capitalisation, as of Nov 8, 2026). Per share that is HK$0.1250; our models calculate a fair value of HK$0.2703 per share.
What do the bullish and bearish scenarios say about 0497?
Our models span a range for CSI Properties Ltd: cautious scenario HK$0.1394, base HK$0.2703, optimistic HK$0.4267 per share (as of Nov 8, 2026, price HK$0.1250). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 0497?
The PEG ratio of CSI Properties Ltd is 0.61 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of CSI Properties Ltd (0497)?
Balance-sheet figures for CSI Properties Ltd (as of Nov 8, 2026): return on equity −6.8%, debt of 0.42 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 0497 from its 52-week high?
CSI Properties Ltd trades at HK$0.1250, about 46% below its 52-week high of HK$0.2300 and 1% above the low of HK$0.1240 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2703 is for.
Which stocks are comparable to CSI Properties Ltd?
From the same area (Real Estate) we also value CBRE Group, Cellnex Telecom, S.A, KE Holdings, Swire Properties Limited, 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 CSI Properties Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price HK$0.1250, calculated fair value HK$0.2703 (+116%), Quality Score 54/100, from 6 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 0497 calculated?
We run CSI Properties Ltd through 6 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of HK$0.2703 builds on their evidence-weighted average, 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 13.9% above its aggregate fair value. CSI Properties Ltd currently trades 54% 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 CSI Properties Ltd (0497)?
The closing price on Nov 13, 2026 was HK$0.1250. Our model-based fair value is HK$0.2703, about +116% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CSI Properties Ltd right now?
The price is below even our cautious bear case (HK$0.1394). The market is more pessimistic than our downside scenario. The model range is unusually wide (HK$0.1394 to HK$0.4267). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of CSI Properties Ltd

How large is the market capitalisation of CSI Properties Ltd (0497)?
The market capitalisation of CSI Properties Ltd is HK$1.6B (≈ $200M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CSI Properties Ltd (0497)?
The price-to-sales ratio of CSI Properties Ltd is 1.17 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CSI Properties Ltd (0497)?
Earnings per share at CSI Properties Ltd are HK$−0.0500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of CSI Properties Ltd (0497)?
The net margin of CSI Properties Ltd is −57.7% (last twelve months). 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 CSI Properties Ltd (0497)?
The return on equity (ROE) of CSI Properties Ltd is −6.8% (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 CSI Properties Ltd (0497)?
On an EBIT basis the return on assets of CSI Properties Ltd is 0.5% (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 CSI Properties Ltd (0497)?
The operating margin of CSI Properties Ltd is 11.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CSI Properties Ltd (0497)?
Revenue at CSI Properties Ltd is growing +246% versus a year earlier (3y avg +7.8%). 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 CSI Properties Ltd (0497)?
Earnings per share at CSI Properties Ltd are growing −6.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CSI Properties Ltd (0497) generate?
The free cash flow of CSI Properties Ltd is HK$1.1B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does CSI Properties Ltd (0497) carry?
The net debt of CSI Properties Ltd is HK$518M (fiscal year 2026, ≈ 0.5 yrs of FCF). 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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