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Public Financial Holdings (0626) Fair Value & Analysis

Financial Services · HK · Market cap HK$1.5B

PF Public Financial Holdings 0626 · HK
PriceHK$1.42
Fair ValueHK$0.9300
Upside-34.5%
Quality54/100
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Healthy Growth
Thin margins · 6.9% net margin
Low debt · generates free cash flow
5.00% dividend yield
Mixed vs. peers (6/14)
Narrow moat 34/100
Evidence: High Range HK$0.7000 – HK$1.17 Share as image

Fair value as of: Aug 13, 2026

From 4 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.9400 to HK$0.9300 (−1.1%) since Aug 2, 2026. Share price +0.7% over the past month.

A solid business, but screening 35% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$1.17). The favourable scenario is already priced in.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

HK$2.31 HK$1.02 Fair Value HK$0.9300 Jan 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$1.02 – HK$2.31 · fair‑value band HK$0.7000 – HK$1.17 · the HK$1.42 price screens above the HK$0.9300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Public Financial Holdings (0626) currently trades at HK$1.42, while our model-based Fair Value estimate is HK$0.9300, implying the stock looks roughly 34.5% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Financial Services 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: high).

Over the trailing twelve months, Public Financial Holdings generated revenue of HK$1.2B at a net margin of 6.9%. Revenue grew 102.6% year over year. It earns a return on equity of 1.0%. Net debt stands at HK$1.9B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.7000 (bear case) to HK$1.17 (bull case); at HK$1.42, 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 18% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 47% fair-value upside, at -35%, 0626 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
Residual Income HK$4.53 HK$4.11 HK$2.75 76
P/E Multiple HK$0.7100 HK$0.9400 HK$1.18 63
P/B Multiple HK$0.9300 HK$1.23 HK$1.54 55
All 4 models by family
Multiples
P/E Multiple HK$0.7100 HK$0.9400 HK$1.18 63
P/B Multiple HK$0.9300 HK$1.23 HK$1.54 55
Asset-Based
NCAV (Graham) HK$3.53 HK$4.73 HK$7.07 50
Economic Profit
Residual Income HK$4.53 HK$4.11 HK$2.75 76

Widest divergence: Asset-Based (HK$4.73) versus Multiples (HK$0.9400). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$1.2B
Revenue growth (YoY) +103%
Net margin 6.9%
Return on equity 1.0%
Free cash flow HK$221M FY2025
P/E ratio 19.7 as of Jul 2, 2026
More key figures
Operating margin 21.2%
Dividend yield 5.0%
EPS growth (YoY) -41.1%
Net debt HK$1.9B FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 46 · Market factors (momentum, volatility) 55

Profitability 14
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 82
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

Public Financial Holdings Limited, an investment and property holding company, provides various banking and financial services in Hong Kong and Mainland China. The company operates through three segments : Retail and Commercial Banking Businesses; Wealth Management Services, Stockbroking and Securities Management; and Other Businesses.

Full company description

Public Financial Holdings Limited, an investment and property holding company, provides various banking and financial services in Hong Kong and Mainland China. The company operates through three segments : Retail and Commercial Banking Businesses; Wealth Management Services, Stockbroking and Securities Management; and Other Businesses. The Retail and Commercial Banking Businesses segment offers deposit accounts; mortgages and consumer lending products; hire purchase and leasing; financing to purchasers of licensed public vehicles, such as taxis and public light buses; services and financing for customers in trading, manufacturing, and various other business sectors; foreign exchange services; and cash management services for deposit taking and lending, interest rate risk management, and fund management services. The Wealth Management Services, Stockbroking and Securities Management segment is involved in the management of investments in debt securities and equities; securities dealing and commission income receipt; and provision of wealth management products and services. The Other Businesses segment trades in and leases taxis; and lets investment properties. The company also provides personal and property mortgage loans, and nominee services. The company was formerly known as JCG Holdings Limited. Public Financial Holdings Limited was incorporated in 1991 and is headquartered in Central, Hong Kong. Public Financial Holdings Limited is a subsidiary of Public Bank Berhad.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Public Financial Holdings reported revenue of HK$2.1B in FY2025 versus HK$1.7B in FY2021, a compound +5.1%/yr. Reported net income was HK$79.7M in FY2025, compounding −36.7%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$2.1B
Latest YoY
+74.2%
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.
+18.6%
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.
+9.6%
Avg. growth/yr (25Y) 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.
+2.3%
Revenue +5.1%/yr
FY21 HK$1.7B
FY22 HK$1.2B
FY23 HK$914M
FY24 HK$1.2B
FY25 HK$2.1B
Net income −36.7%/yr
FY21 HK$496M
FY22 HK$329M
FY23 HK$14.4M
FY24 −HK$999M
FY25 HK$79.7M
Character of growth · EPS growth decomposed (2014-2025) −21.3 % p.a.
Revenue per share −0.3 pp

of which total revenue −0.3 pp · buybacks/dilution +0.0 pp

EBIT margin −16.5 pp
Tax rate −3.7 pp
Residual (interest, one-offs) −0.7 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).

0626 screens 35% overvalued. Compare with PT Bank Central Asia Tbk →

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Cite: Fair Value Calculator (2026). "Public Financial Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0626

Peer Group

Banks - Regional · 1087 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 51 · Below median
Fair Value upside −35% · Bottom 25%
Return on equity (TTM) 1% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 7% · Bottom 25%
Operating margin (TTM) 21% · Bottom 25%
Revenue growth 103% · Top 25%
Dividend yield (TTM) 5.0% · Top 25%
Debt / equity 0.14× · Lower than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 19.7× · Pricier than 75% of peers
P/B 0.20× · Cheaper than 75% of peers
P/S (TTM) 1.31× · Cheaper than 75% of peers
P/FCF 0.9× · Cheaper than median
EV/EBITDA 11.0× · Pricier 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 33
FUTURE 100 · sector 44
PAST 4 · sector 41
HEALTH 93 · sector 85
DIVIDEND 100 · sector 56

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

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,350 IDR 4,637 IDR -27%
KB Financial Group 105560 168,100 KRW 220,258 KRW +31%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 3,110 IDR 3,792 IDR +22%
PT Bank Mandiri (Persero) Tbk BMRI 4,130 IDR 6,067 IDR +47%
Banco Bradesco S.A BBD 5,120 ARS 8,400 ARS +64%
Shinhan Financial Group 055550 103,800 KRW 146,032 KRW +41%
Hana Financial Group 086790 127,900 KRW 210,506 KRW +65%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,500 VND 45,959 VND -23%
Woori Financial Group 316140 33,000 KRW 60,758 KRW +84%

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Frequently asked questions

Is Public Financial Holdings (0626) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.9300 versus a price of HK$1.42, about −35% (overvalued).
What is the fair value of 0626?
Our model-based fair value for Public Financial Holdings is HK$0.9300 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.42.
What is the quality score of 0626?
Public Financial Holdings 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 revenue of Public Financial Holdings (0626)?
Public Financial Holdings reported trailing-twelve-month revenue of about HK$1.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0626?
The net profit margin of Public Financial Holdings is about 6.9%, meaning it keeps roughly 6.9% of revenue as net income. Based on the latest reported figures.
Does Public Financial Holdings pay a dividend?
Public Financial Holdings currently shows a dividend yield of about 5.00% relative to its recent price (as of Aug 13, 2026).

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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