Kerry Logistics Network Ltd (0636) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Kerry Logistics Network Ltd HK$16.45, price HK$5.94, upside +176.9%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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$5.30 – HK$18.84 · fair‑value band HK$12.34 – HK$20.56 · the HK$5.94 price screens below the HK$16.45 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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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.
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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.
Stock analysis
Kerry Logistics Network Ltd (0636) currently trades at HK$5.94, while our model-based Fair Value estimate is HK$16.45, implying the stock looks roughly 63.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$21.75 per share, and 24 of the 24 models we run sit above the HK$5.94 price.
Bear case: the Asset-Based group reads lowest at HK$6.57, and 0 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$12.34 (bear) to HK$20.56 (bull), the price of HK$5.94 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 63/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Kerry Logistics Network Ltd 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.
Key figures
Market cap HK$10.7B (≈ $1.4B) · P/E ratio 7.6 · P/S ratio 0.19 · EPS (TTM) HK$0.7836 · Dividend yield 4.5% · Net margin 2.5% · Return on equity 8.6% · Return on assets (EBIT) 8.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 18% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 177%, 0636 screens cheaper than that median.
Fair Value models
Bear HK$12.34Fair Value HK$16.45Bull HK$20.56
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0673 per share) are deliberately not added.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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−3.3%
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.
−11.9%
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.
+2.6%
Start year 2020 (pandemic). Over 10 years: +10.3% a year
Revenue growth 15 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.
+11.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−14.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.7%
Dividend (yield on the price)4.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−18.7% vs −3.0%, slowing
Profit margin 2020 to 2025 ⓘ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.4% → 5%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−9.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about −11.2% a year for the price and +2.1% for the forecasts.
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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.Integrated Freight & Logistics · 211 stocks
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Is Kerry Logistics Network Ltd (0636) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$16.45 versus a price of HK$5.94, about +177% upside (undervalued).
What is the fair value of 0636?
Our model-based fair value for Kerry Logistics Network Ltd is HK$16.45 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$5.94.
What is the quality score of 0636?
Kerry Logistics Network Ltd 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 price target for Kerry Logistics Network Ltd (0636)?
Our model-based price target is the fair value of HK$16.45 (as of Sep 27, 2026) from 24 valuation models. Cautious scenario HK$12.34, optimistic scenario HK$20.56. It is a calculation from audited fundamentals, not an analyst target.
What is the Kerry Logistics Network Ltd stock forecast for 2026?
Our models put fair value at HK$16.45, about +177% upside versus a price of HK$5.94 (undervalued). Cautious scenario HK$12.34, optimistic scenario HK$20.56. The calculation is refreshed regularly with new filings.
What is the revenue of Kerry Logistics Network Ltd (0636)?
Kerry Logistics Network Ltd reported trailing-twelve-month revenue of about HK$56.3B (latest available figure, as of Sep 27, 2026).
Does Kerry Logistics Network Ltd pay a dividend?
Kerry Logistics Network Ltd currently shows a dividend yield of about 4.55% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Kerry Logistics Network Ltd (0636)?
For today's price to be fair in a discounted-cash-flow model, Kerry Logistics Network Ltd would have to grow free cash flow by -9.3 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.6 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 0636 use?
Our models discount Kerry Logistics Network Ltd at 11.6 %: a base by market capitalisation (small), damped by beta 0.93, 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 Kerry Logistics Network Ltd that is -9.3 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Kerry Logistics Network Ltd (0636) delivered so far?
Over the past 5 years revenue at Kerry Logistics Network Ltd grew +2.6 % a year. The price currently implies -9.3 % 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 Kerry Logistics Network Ltd (0636) growing?
The median revenue growth in the sector is +5.5 % a year. That is the yardstick for the growth priced into Kerry Logistics Network Ltd (-9.3 % 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 Kerry Logistics Network Ltd (0636)?
The free-cash-flow yield on the price is 21.28 %: that much free cash flow Kerry Logistics Network Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kerry Logistics Network Ltd (0636)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kerry Logistics Network Ltd it is HK$16.45 per share (as of Sep 27, 2026), against a price of HK$5.94. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Kerry Logistics Network Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 0636 trades below its calculated fair value: price HK$5.94, fair value HK$16.45, a gap of about +177% (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 0636?
No. The price is what the market pays today (HK$5.94); the fair value is what the company's own numbers justify (HK$16.45). For Kerry Logistics Network Ltd the two are HK$10.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kerry Logistics Network Ltd worth?
The market values Kerry Logistics Network Ltd at about HK$10.7B (market capitalisation, as of Sep 27, 2026). Per share that is HK$5.94; our models calculate a fair value of HK$16.45 per share.
What do the bullish and bearish scenarios say about 0636?
Our models span a range for Kerry Logistics Network Ltd: cautious scenario HK$12.34, base HK$16.45, optimistic HK$20.56 per share (as of Sep 27, 2026, price HK$5.94). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0636?
Kerry Logistics Network Ltd trades at a price-to-earnings ratio of 7.6 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$16.45 is built from several models across several years. Other multiples: PEG 1.6, P/B 0.6, P/S 0.2, EV/EBITDA 3.0.
What is the PEG ratio of 0636?
The PEG ratio of Kerry Logistics Network Ltd is 1.58 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kerry Logistics Network Ltd (0636)?
Balance-sheet figures for Kerry Logistics Network Ltd (as of Sep 27, 2026): return on equity 8.6%, debt of 0.32 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 0636 from its 52-week high?
Kerry Logistics Network Ltd trades at HK$5.94, about 18% below its 52-week high of HK$7.23 and 8% above the low of HK$5.49 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$16.45 is for.
Which stocks are comparable to Kerry Logistics Network Ltd?
From the same area (Industrials) we also value United Parcel Service, Inc, Deutsche Post AG, FedEx Corporation, DSV A/S, 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 Kerry Logistics Network Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$5.94, calculated fair value HK$16.45 (+177%), Quality Score 63/100, from 24 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 0636 calculated?
We run Kerry Logistics Network Ltd through 24 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$16.45, 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. Kerry Logistics Network Ltd currently trades 64 % 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 Kerry Logistics Network Ltd (0636)?
The closing price on Sep 29, 2026 was HK$5.94. Our model-based fair value is HK$16.45, about +177% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kerry Logistics Network Ltd right now?
The price is below even our cautious bear case (HK$12.34). 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 (63/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Kerry Logistics Network Ltd (0636) come from?
Earnings per share at Kerry Logistics Network Ltd grew −4.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.6 %, EBIT margin −5.0 %, tax rate −2.1 %, residual (interest, one-offs) −6.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Kerry Logistics Network Ltd
How large is the market capitalisation of Kerry Logistics Network Ltd (0636)?
The market capitalisation of Kerry Logistics Network Ltd is HK$10.7B (≈ $1.4B). 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 Kerry Logistics Network Ltd (0636)?
The price-to-sales ratio of Kerry Logistics Network Ltd is 0.19 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kerry Logistics Network Ltd (0636)?
Earnings per share at Kerry Logistics Network Ltd are HK$0.7836 (price ÷ EPS = P/E 7.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kerry Logistics Network Ltd (0636)?
The dividend yield of Kerry Logistics Network Ltd is 4.5% (payout 34.5%). 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 Kerry Logistics Network Ltd (0636)?
The net margin of Kerry Logistics Network Ltd is 2.5% (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 Kerry Logistics Network Ltd (0636)?
The return on equity (ROE) of Kerry Logistics Network Ltd is 8.6% (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 Kerry Logistics Network Ltd (0636)?
On an EBIT basis the return on assets of Kerry Logistics Network Ltd is 8.7% (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 Kerry Logistics Network Ltd (0636)?
The operating margin of Kerry Logistics Network Ltd is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kerry Logistics Network Ltd (0636)?
Revenue at Kerry Logistics Network Ltd is growing −11.3% versus a year earlier (3y avg −11.9%). 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 Kerry Logistics Network Ltd (0636)?
Earnings per share at Kerry Logistics Network Ltd are growing +20.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kerry Logistics Network Ltd (0636) carry?
The net debt of Kerry Logistics Network Ltd is HK$5.1B (fiscal year 2025, ≈ 2.2 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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