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KLN Logistics Group (0636) Fair Value & Analysis

Industrials · HK · Market cap HK$9.9B

KL KLN Logistics Group 0636 · HK
PriceHK$5.84
Fair ValueHK$16.45
Upside+181.7%
Quality63/100
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Mixed Growth
Thin margins · 2.5% net margin
Low debt · generates free cash flow
4.85% dividend yield
Ranks above peers (11/15)
Narrow moat 38/100
Evidence: Medium Range HK$12.34 – HK$20.56 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 2 days ago

Share price −1.5% over the past month.

A solid business, screening 182% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$12.34). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$18.84 HK$5.30 Fair Value HK$16.45 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$5.30 – HK$18.84 · fair‑value band HK$12.34 – HK$20.56 · the HK$5.84 price screens below the HK$16.45 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

KLN Logistics Group (0636) currently trades at HK$5.84, while our model-based Fair Value estimate is HK$16.45, implying the stock looks roughly 181.7% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Industrials 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, KLN Logistics Group generated revenue of HK$56.3B at a net margin of 2.5%. Revenue declined 11.3% year over year. It earns a return on equity of 8.6%. Net debt stands at HK$5.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$12.34 (bear case) to HK$20.56 (bull case); at HK$5.84, 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 38% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 26% fair-value upside, at 182%, 0636 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
Growth DCF HK$14.77 HK$23.23 HK$36.06 80
Residual Income HK$8.04 HK$8.56 HK$9.48 76
Rev-Margin DCF HK$13.61 HK$22.04 HK$32.23 74
All 24 models by family
DCF Models
FCF DCF HK$14.70 HK$23.54 HK$37.20 38
Owner Earnings HK$15.93 HK$25.53 HK$40.37 31
5Y Revenue Exit HK$13.61 HK$22.10 HK$33.16 39
5Y EBITDA Exit HK$18.98 HK$32.54 HK$48.88 41
5Y P/E Exit HK$12.63 HK$20.19 HK$28.33 38
10Y Revenue Exit HK$13.47 HK$21.34 HK$32.43 36
10Y EBITDA Exit HK$17.26 HK$28.58 HK$44.59 37
10Y P/E Exit HK$13.24 HK$20.01 HK$28.69 35
Earnings-Based
Graham-Dodd HK$5.33 HK$19.85 HK$26.84 54
Lynch FV HK$4.78 HK$6.82 HK$8.87 50
PEG = 1.0 HK$4.78 HK$6.82 HK$8.87 46
EPV HK$10.26 HK$11.82 HK$13.16 59
Multiples
P/E Multiple HK$12.34 HK$16.45 HK$20.56 63
P/S Multiple HK$9.99 HK$13.32 HK$16.65 58
P/B Multiple HK$9.99 HK$13.32 HK$16.65 55
EV/EBIT HK$18.73 HK$24.84 HK$30.96 53
EV/EBITDA HK$23.59 HK$31.32 HK$39.04 54
EV/Revenue HK$13.49 HK$19.09 HK$24.70 43
Asset-Based
NCAV (Graham) HK$4.90 HK$6.57 HK$9.80 50
Growth DCF
Growth DCF HK$14.77 HK$23.23 HK$36.06 80
Rev-Margin DCF HK$13.61 HK$22.04 HK$32.23 74
Economic Profit
Residual Income HK$8.04 HK$8.56 HK$9.48 76
ROIC Compounder HK$10.43 HK$13.26 HK$17.07 72
Growth Earnings
Growth-Adj P/E HK$8.85 HK$12.64 HK$16.43 68

Widest divergence: DCF Models (HK$22.10) versus Asset-Based (HK$6.57). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$56.3B
Revenue growth (YoY) -11.3%
Net margin 2.5%
Return on equity 8.6%
Free cash flow HK$2.3B FY2025
P/E ratio 7.0 as of Jul 2, 2026
More key figures
Operating margin 4.3%
EPS (TTM) HK$0.3600
Dividend yield 4.9%
EPS growth (YoY) +20.5%
Net debt HK$5.1B FY2025

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 61 · Market factors (momentum, volatility) 33

Profitability 43
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 92
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

KLN Logistics Group Limited, an investment holding company, provides logistics services in Hong Kong, Mainland China, the rest of Asia, the Americas, Europe, the Middle East, Africa, and the Oceania. The company operates through Integrated Logistics and International Freight Forwarding segments.

Full company description

KLN Logistics Group Limited, an investment holding company, provides logistics services in Hong Kong, Mainland China, the rest of Asia, the Americas, Europe, the Middle East, Africa, and the Oceania. The company operates through Integrated Logistics and International Freight Forwarding segments. It offers integrated logistics services, including storage, inventory, value-added, trucking and distribution, returns management, and various ancillary services, as well as leases offices and warehouses. The company also provides international freight forwarding services to transport cargo using air freight, ocean freight, rail logistics, and cross-border road freight forwarding services. In addition, it offers express services; aviation ground; operates warehouses; transportation and distribution services; supply chain; pharmaceutical logistics; and project cargo freight forwarding, document storage, management, and trading services. Further, the company operates as an insurance broker and general merchant; provides courier services; and operates seaport. It serves fashion and lifestyle, electronics and technology, food and beverage, fast-moving consumer goods trading and distribution, food servicing, wines and spirits, industrial and material sciences, automotive, art logistics, and pharmaceutical and healthcare industries. The company was formerly known as Kerry Logistics Network Limited and changed its name to KLN Logistics Group Limited in April 2025. KLN Logistics Group Limited was founded in 1981 and is headquartered in Kwai Chung, Hong Kong. KLN Logistics Group Limited is a subsidiary of S.F. Holding Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KLN Logistics Group reported revenue of HK$56.3B in FY2025 versus HK$79.0B in FY2021, a compound −8.1%/yr. Reported net income was HK$1.4B in FY2025, compounding −29.6%/yr from FY2021.

Growth Quality 52/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$56.3B
Latest YoY
−3.3%
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.
−11.9%
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.
+2.6%
Avg. growth/yr (15Y) ⓘ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.
+11.6%
Revenue −8.1%/yr
FY21 HK$79.0B
FY22 HK$82.3B
FY23 HK$47.4B
FY24 HK$58.3B
FY25 HK$56.3B
Net income −29.6%/yr
FY21 HK$5.8B
FY22 HK$3.6B
FY23 HK$804M
FY24 HK$1.5B
FY25 HK$1.4B
Character of growth · EPS growth decomposed (2014-2025) −4.6 % p.a.
Revenue per share +9.6 pp

of which total revenue +10.5 pp · buybacks/dilution −0.8 pp

EBIT margin −5.0 pp
Tax rate −2.1 pp
Residual (interest, one-offs) −7.1 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).

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KLN Logistics Group · Fair Value
HK$16.45 +182%Fair Value
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Cite: Fair Value Calculator (2026). "KLN Logistics Group Fair Value". https://www.fairvalue-calculator.com/stock/0636

Peer Group

Integrated Freight & Logistics · 217 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 63 · Top 25%
Fair Value upside +182% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Above median
Revenue growth -11% · Bottom 25%
Dividend yield (TTM) 4.9% · Above median
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 7.0× · Cheaper than 75% of peers
P/B 0.56× · Cheaper than median
P/S (TTM) 0.18× · Cheaper than median
P/FCF 0.6× · Cheaper than median
EV/EBITDA 2.8× · Cheaper than 75% of peers
PEG 1.58× · 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 100 · sector 45
FUTURE 0 · sector 8
PAST 35 · sector 27
HEALTH 84 · sector 94
DIVIDEND 97 · sector 63

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $103.91 $103.34 -1%
FedEx Corporation FDX $326.77 $347.68 +6%
Deutsche Post AG DHL €55.32 €53.18 -4%
DSV A/S DSV kr 1,380 kr 712.57 -48%
J.B. Hunt Transport Services, Inc JBHT $275.96 $133.80 -52%
S.F. Holding 002352 ¥32.96 ¥48.64 +48%
ZTO Express (Cayman) Inc 2057 HK$178.20 HK$224.41 +26%
Hyundai Glovis Co 086280 199,700 KRW 468,982 KRW +135%
YTO Express Group 600233 ¥18.48 ¥26.51 +43%
JD Logistics, Inc 2618 HK$14.17 HK$21.45 +51%

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Frequently asked questions

Is KLN Logistics Group (0636) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$16.45 versus a price of HK$5.84, about +182% (undervalued).
What is the fair value of 0636?
Our model-based fair value for KLN Logistics Group is HK$16.45 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$5.84.
What is the quality score of 0636?
KLN Logistics Group has a Quality Score of 63/100. 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 KLN Logistics Group (0636)?
KLN Logistics Group reported trailing-twelve-month revenue of about HK$56.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0636?
The net profit margin of KLN Logistics Group is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does KLN Logistics Group pay a dividend?
KLN Logistics Group currently shows a dividend yield of about 4.85% 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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