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Frontier Services Group (0500) Fair Value & Analysis

Industrials · HK · Market cap HK$142M

FS Frontier Services Group 0500 · HK
PriceHK$0.0680
Fair ValueHK$0.0358
Upside-47.4%
Quality33/100
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Weak Growth
Loss-making · -31.4% net margin
High debt · negative free cash flow
Trails peers (4/12)
Narrow moat 0/100
Evidence: Low Range HK$0.0294 – HK$0.0422 Share as image

Fair value as of: Aug 13, 2026

From 3 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.0360 to HK$0.0358 (−0.5%) since Aug 2, 2026. Share price +3.0% over the past month.

Below-average quality, and screening another 47% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.0422). The favourable scenario is already priced in.
  • Weak quality (33/100) 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.
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Price vs Fair Value (5 years)

HK$0.9900 HK$0.0510 Fair Value HK$0.0358 Nov 2020 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$0.0510 – HK$0.9900 · fair‑value band HK$0.0294 – HK$0.0422 · the HK$0.0680 price screens above the HK$0.0358 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Frontier Services Group (0500) currently trades at HK$0.0680, while our model-based Fair Value estimate is HK$0.0358, implying the stock looks roughly 47.4% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Frontier Services Group generated revenue of HK$651M at a net margin of -31.4%. Revenue declined 17.0% year over year. It earns a return on equity of -66.0%. Net debt stands at HK$29.8M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0294 (bear case) to HK$0.0422 (bull case); at HK$0.0680, the current price sits above 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 44% below its 52-week high and 42% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 11% fair-value upside, at -47%, 0500 screens richer 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
Gordon GGM HK$0.0100 HK$0.0200 HK$0.0200 70
DDM Multi-Stage HK$0.0100 HK$0.0200 HK$0.0200 61
NCAV (Graham) HK$0.0200 HK$0.0200 HK$0.0400 50
All 3 models by family
Dividend Discount
Gordon GGM HK$0.0100 HK$0.0200 HK$0.0200 70
DDM Multi-Stage HK$0.0100 HK$0.0200 HK$0.0200 61
Asset-Based
NCAV (Graham) HK$0.0200 HK$0.0200 HK$0.0400 50

Widest divergence: Dividend Discount (HK$0.0200) versus Dividend Discount (HK$0.0200). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) HK$651M
Revenue growth (YoY) -17.0%
Net margin -31.4%
Return on equity -66.0%
Free cash flow −HK$35.6M FY2025
Operating margin -14.2%
More key figures
EPS growth (YoY) -99.9%
Net debt HK$29.8M 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 32 · Market factors (momentum, volatility) 31

Profitability 17
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 78
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

Frontier Services Group Limited, together with its subsidiaries, provides security, insurance, aviation, logistics, and infrastructure-related services in China, Hong Kong, Kenya, Nigeria, Laos, the Democratic Republic of the Congo, and internationally.

Full company description

Frontier Services Group Limited, together with its subsidiaries, provides security, insurance, aviation, logistics, and infrastructure-related services in China, Hong Kong, Kenya, Nigeria, Laos, the Democratic Republic of the Congo, and internationally. The company offers protective services, including threat and risk assessments, executive/close protection, safety implementation, strategy and policy development, and physical and technical, IT, and aviation security, as well as specialized training services; and finance, liability, property, and personnel insurance programs, as well as special insurance solutions, such as medical and emergency evacuation, repatriation, kidnap and ransom response, and crisis management. It also provides aviation services; engineering project logistics services and transportation of valuables; and infrastructure solutions comprising project planning, business consulting, investment and financing, engineering design, project implementation and operation, and support services. In addition, the company engages in aircraft holding; consultancy services; and investment management. It serves the oil and gas, mining, finance, energy, and infrastructure industries, as well as international organizations. The company was formerly known as DVN (Holdings) Limited and changed its name to Frontier Services Group Limited in March 2014. Frontier Services Group Limited was incorporated in 1989 and is headquartered in Admiralty, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Frontier Services Group reported revenue of HK$651M in FY2025 versus HK$756M in FY2021, a compound −3.7%/yr. Reported net income was −HK$204M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$651M
Latest YoY
−13.5%
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.
−12.3%
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.
+1.5%
Avg. growth/yr (27Y) 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.
−1.1%
Revenue −3.7%/yr
FY21 HK$756M
FY22 HK$964M
FY23 HK$813M
FY24 HK$754M
FY25 HK$651M
Net income
FY21 −HK$160M
FY22 −HK$29.0M
FY23 HK$51.2M
FY24 −HK$104M
FY25 −HK$204M

0500 screens 47% overvalued. Compare with ITOCHU Corporation →

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Cite: Fair Value Calculator (2026). "Frontier Services Group Fair Value". https://www.fairvalue-calculator.com/stock/0500

Peer Group

Conglomerates · 385 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 32 · Bottom 25%
Fair Value upside −41% · Below median
Return on assets -7% · Bottom 25%
Net margin (TTM) -31% · Bottom 25%
Operating margin (TTM) -14% · Bottom 25%
Revenue growth -17% · Bottom 25%
Dividend yield (TTM) 2.5% · Above median
Debt / equity 1.92× · Higher than 75% of peers

Valuation Multiples vs Conglomerates median · lower = cheaper

P/B 0.20× · Cheaper than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
PEG 0.81× · 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 0 · sector 27
FUTURE 0 · sector 17
PAST 0 · sector 18
HEALTH 4 · sector 89
DIVIDEND 51 · sector 46

VALUE 0: the price sits above our fair-value range.

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 Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Empresas Copec S.A COPEC 6,030 CLP 10,809 CLP +79%
Posco International Corporation 047050 54,300 KRW 71,119 KRW +31%
Tube Investments of India Limited TIINDIA ₹2,839 ₹723.80 -75%
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Thermax Limited THERMAX ₹4,002 ₹1,343 -66%

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Frequently asked questions

Is Frontier Services Group (0500) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.0358 versus a price of HK$0.0680, about −47% (overvalued).
What is the fair value of 0500?
Our model-based fair value for Frontier Services Group is HK$0.0358 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.0680.
What is the quality score of 0500?
Frontier Services Group 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 Frontier Services Group (0500)?
Frontier Services Group reported trailing-twelve-month revenue of about HK$651M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0500?
The net profit margin of Frontier Services Group is about -31.4%, meaning it is currently running at a net loss. 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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