Playmates Holdings Ltd (0635) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Playmates Holdings Ltd HK$0.87, price HK$0.50, upside +74.0%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Playmates Holdings Ltd for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
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$0.4600 – HK$0.8217 · fair‑value band HK$0.7800 – HK$0.9800 · the HK$0.5000 price screens below the HK$0.8700 fair value. Dashed = 300-day average. As of Sep 27, 2026.
Follow Playmates Holdings in your weekly email
Every Wednesday you see whether Playmates Holdings is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Playmates Holdings Limited, together with its subsidiary, engages in the creation, design, marketing, and distribution of toys in Hong Kong, the United States, rest of the Americas, Europe, the rest of the Asia Pacific, and internationally.
Show more
Playmates Holdings Limited, together with its subsidiary, engages in the creation, design, marketing, and distribution of toys in Hong Kong, the United States, rest of the Americas, Europe, the rest of the Asia Pacific, and internationally. It operates through three segments: Property Investments and Management Businesses, Investment Business, and Toy Business. The Property Investments and Management Businesses segment invests in and leases commercial, industrial, and residential premises for rent; and provides property management services, such as repair and maintenance, building security, general cleaning for common areas, hand-over and take-over of premises, and the monitoring of reinstatement and refurbishment works. The Investment Business segment invests in financial instruments, including listed equity. The Toy Business segment designs, develops, markets, and distributes toys and family entertainment activity products. The company offers product design and development services, as well as property investment services. The company was founded in 1966 and is based in Tsim Sha Tsui, Hong Kong.
Stock analysis
Playmates Holdings Ltd (0635) currently trades at HK$0.5000, while our model-based Fair Value estimate is HK$0.8700, implying the stock looks roughly 42.5% undervalued today.
Show more
Valuation
Bull case: the Asset-Based group reads highest at a median of HK$1.48 per share, and 7 of the 9 models we run sit above the HK$0.5000 price.
Bear case: the Dividend Discount group reads lowest at HK$0.3400, and 2 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.7800 (bear) to HK$0.9800 (bull), the price of HK$0.5000 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 60/100 (solid 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.
Playmates Holdings Ltd reported revenue of HK$665M in FY2025 versus HK$861M in FY2021, a compound −6.2%/yr. Reported net income was −HK$362M in FY2025.
Key figures
Market cap HK$1.0B (≈ $132M) · P/S ratio 1.49 · EPS (TTM) HK$−0.1000 · Dividend yield 6.0% · Net margin −54.4% · Return on equity −6.9% · Return on assets (EBIT) −2.4% · Operating margin 12.2%.
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 9% below its 52-week high and 9% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 36% fair-value upside, at 74%, 0635 screens cheaper than that median.
Fair Value models
Bear HK$0.7800Fair Value HK$0.8700Bull HK$0.9800
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.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.
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.38/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−39.1%
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.
−2.6%
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.
+4.4%
Start year 2020 (pandemic). Over 10 years: −9.4% a year
Revenue growth 27 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%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
−90.0% (2020) → −57.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Leisure · 184 stocks
Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+74.0% · Top 25%
Profitability
Return on assets0.6% · Below median
Net margin (TTM)−54.5% · Bottom 25%
Operating margin (TTM)12.2% · Above median
Growth and dividend
Revenue growth−28.5% · Bottom 25%
Dividend yield (TTM)6.0% · Top 25%
Valuation Multiplesvs Leisure median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Playmates Holdings Ltd (0635) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.8700 versus a price of HK$0.5000, about +74% upside (undervalued).
What is the fair value of 0635?
Our model-based fair value for Playmates Holdings Ltd is HK$0.8700 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.5000.
What is the quality score of 0635?
Playmates Holdings Ltd has a Quality Score of 60/100. 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 Playmates Holdings Ltd (0635)?
Our model-based price target is the fair value of HK$0.8700 (as of Sep 27, 2026) from 9 valuation models. Cautious scenario HK$0.7800, optimistic scenario HK$0.9800. It is a calculation from audited fundamentals, not an analyst target.
What is the Playmates Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.8700, about +74% upside versus a price of HK$0.5000 (undervalued). Cautious scenario HK$0.7800, optimistic scenario HK$0.9800. The calculation is refreshed regularly with new filings.
What is the revenue of Playmates Holdings Ltd (0635)?
Playmates Holdings Ltd reported trailing-twelve-month revenue of about HK$665M (latest available figure, as of Sep 27, 2026).
Does Playmates Holdings Ltd pay a dividend?
Playmates Holdings Ltd currently shows a dividend yield of about 6.00% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Playmates Holdings Ltd (0635)?
For today's price to be fair in a discounted-cash-flow model, Playmates Holdings Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 0635 use?
Our models discount Playmates Holdings Ltd at 13.3 %: a base by market capitalisation (micro), country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Playmates Holdings Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Playmates Holdings Ltd (0635) delivered so far?
Over the past 5 years revenue at Playmates Holdings Ltd grew +4.4 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Playmates Holdings Ltd (0635) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Playmates Holdings Ltd (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Playmates Holdings Ltd (0635)?
The free-cash-flow yield on the price is 8.58 %: that much free cash flow Playmates Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Playmates Holdings Ltd (0635)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Playmates Holdings Ltd it is HK$0.8700 per share (as of Sep 27, 2026), against a price of HK$0.5000. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Playmates Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0635 trades below its calculated fair value: price HK$0.5000, fair value HK$0.8700, a gap of about +74% (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 0635?
No. The price is what the market pays today (HK$0.5000); the fair value is what the company's own numbers justify (HK$0.8700). For Playmates Holdings Ltd the two are HK$0.3700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Playmates Holdings Ltd worth?
The market values Playmates Holdings Ltd at about HK$1.0B (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.5000; our models calculate a fair value of HK$0.8700 per share.
What do the bullish and bearish scenarios say about 0635?
Our models span a range for Playmates Holdings Ltd: cautious scenario HK$0.7800, base HK$0.8700, optimistic HK$0.9800 per share (as of Sep 27, 2026, price HK$0.5000). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Playmates Holdings Ltd (0635)?
Balance-sheet figures for Playmates Holdings Ltd (as of Sep 27, 2026): return on equity −6.9%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 0635 from its 52-week high?
Playmates Holdings Ltd trades at HK$0.5000, about 9% below its 52-week high of HK$0.5500 and 9% above the low of HK$0.4600 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.8700 is for.
Which stocks are comparable to Playmates Holdings Ltd?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, ANTA Sports Products Limited, Amer Sports, Inc, Hasbro, Inc, 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 Playmates Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.5000, calculated fair value HK$0.8700 (+74%), Quality Score 60/100, from 9 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 0635 calculated?
We run Playmates Holdings Ltd through 9 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$0.8700, 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. Playmates Holdings Ltd currently trades 43 % 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 Playmates Holdings Ltd (0635)?
The closing price on Sep 29, 2026 was HK$0.5000. Our model-based fair value is HK$0.8700, about +74% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Playmates Holdings Ltd right now?
The price is below even our cautious bear case (HK$0.7800). 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. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Playmates Holdings Ltd
How large is the market capitalisation of Playmates Holdings Ltd (0635)?
The market capitalisation of Playmates Holdings Ltd is HK$1.0B (≈ $132M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Playmates Holdings Ltd (0635)?
The price-to-sales ratio of Playmates Holdings Ltd is 1.49 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Playmates Holdings Ltd (0635)?
Earnings per share at Playmates Holdings Ltd are HK$−0.1000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Playmates Holdings Ltd (0635)?
The dividend yield of Playmates Holdings Ltd is 6.0%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Playmates Holdings Ltd (0635)?
The net margin of Playmates Holdings Ltd is −54.4% (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 Playmates Holdings Ltd (0635)?
The return on equity (ROE) of Playmates Holdings Ltd is −6.9% (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 Playmates Holdings Ltd (0635)?
On an EBIT basis the return on assets of Playmates 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 Playmates Holdings Ltd (0635)?
The operating margin of Playmates Holdings Ltd is 12.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Playmates Holdings Ltd (0635)?
Revenue at Playmates Holdings Ltd is growing −28.5% versus a year earlier (3y avg −2.6%). 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 Playmates Holdings Ltd (0635)?
Earnings per share at Playmates Holdings Ltd are growing −20.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Playmates Holdings Ltd (0635) hold?
Playmates Holdings Ltd holds more cash than debt, HK$890M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Playmates Holdings Ltd in the live analysis
One click puts Playmates Holdings Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Thin data
Sep 27, 2026