Kerry Properties Ltd (0683) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Kerry Properties Ltd HK$41.39, price HK$17.68, upside +134.1%, quality 59 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 29, 2026.
How to read this chart
60‑month range HK$9.10 – HK$24.23 · fair‑value band HK$30.93 – HK$53.24 · the HK$17.68 price screens below the HK$41.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 29, 2026.
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Kerry Properties Limited, an investment holding company, engages in the development, investment, management, and trading of properties in Hong Kong, Mainland China, and internationally.
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Kerry Properties Limited, an investment holding company, engages in the development, investment, management, and trading of properties in Hong Kong, Mainland China, and internationally. The company owns and operates residences, apartments, hotels, shopping malls, and office towers; real estate and project management; and provides integrated logistics and international freight forwarding, consultancy, administrative support, project management, financial, estate agency, and construction services. It is also involved in the warehouse operations, as well as recreation parks, and ice rinks. The company was founded in 1978 and is based in Quarry Bay, Hong Kong. Kerry Properties Limited operates as a subsidiary of Kerry Group Limited.
Stock analysis
Kerry Properties Ltd (0683) currently trades at HK$17.68, while our model-based Fair Value estimate is HK$41.39, implying the stock looks roughly 57.3% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of HK$97.27 per share, and 8 of the 12 models we run sit above the HK$17.68 price.
Bear case: the DCF Models group reads lowest at HK$42.20, and 4 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: HK$30.93 (bear) to HK$53.24 (bull), the price of HK$17.68 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 59/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Kerry Properties Ltd reported revenue of HK$20.3B in FY2025 versus HK$15.3B in FY2021, a compound +7.3%/yr. Reported net income was HK$938M in FY2025, compounding −45.1%/yr from FY2021.
Key figures
Market cap HK$25.6B (≈ $3.3B) · P/E ratio 23.8 · P/S ratio 1.10 · Dividend yield 7.6% · Net margin 4.6% · Return on equity 1.2% · Return on assets (EBIT) 2.6% · Operating margin 33.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 27% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at 134%, 0683 screens cheaper than that median.
Fair Value models
Bear HK$30.93Fair Value HK$41.39Bull HK$53.24
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.73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+4.1%
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.
+11.6%
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.
+6.9%
Start year 2020 (pandemic). Over 10 years: +6.9% a year
Revenue growth 25 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.
+7.7%
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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. Basis: EBIT basis.
−4.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.0%
Dividend (yield on the price)7.6%
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.−32.8% vs −17.7%, slowing
Profit margin 2020 to 2024 ⓘ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.52% → 9%
News mood ⓘNews mood, the average tone of recent news (5 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Price, fair value, quality and upside side by side.
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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.Real Estate - Development · 576 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+134.1% · Top 25%
Profitability
Return on equity (TTM)1.2% · Below median
Return on assets1.6% · Above median
Net margin (TTM)8.7% · Above median
Operating margin (TTM)33.4% · Top 25%
Growth and dividend
Revenue growth−31.0% · Below median
Dividend yield (TTM)7.6% · Top 25%
Balance sheet
Debt / equity0.47× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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Is Kerry Properties Ltd (0683) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of HK$41.39 versus a price of HK$17.68, about +134% upside (undervalued).
What is the fair value of 0683?
Our model-based fair value for Kerry Properties Ltd is HK$41.39 (as of Sep 29, 2026), built from audited fundamentals. The current price: HK$17.68.
What is the quality score of 0683?
Kerry Properties Ltd has a Quality Score of 59/100. 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 Properties Ltd (0683)?
Our model-based price target is the fair value of HK$41.39 (as of Sep 29, 2026) from 12 valuation models. Cautious scenario HK$30.93, optimistic scenario HK$53.24. It is a calculation from audited fundamentals, not an analyst target.
What is the Kerry Properties Ltd stock forecast for 2026?
Our models put fair value at HK$41.39, about +134% upside versus a price of HK$17.68 (undervalued). Cautious scenario HK$30.93, optimistic scenario HK$53.24. The calculation is refreshed regularly with new filings.
What is the revenue of Kerry Properties Ltd (0683)?
Kerry Properties Ltd reported trailing-twelve-month revenue of about HK$17.1B (latest available figure, as of Sep 29, 2026).
Does Kerry Properties Ltd pay a dividend?
Kerry Properties Ltd currently shows a dividend yield of about 7.64% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of Kerry Properties Ltd (0683)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kerry Properties Ltd it is HK$41.39 per share (as of Sep 29, 2026), against a price of HK$17.68. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Kerry Properties Ltd stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 0683 trades below its calculated fair value: price HK$17.68, fair value HK$41.39, a gap of about +134% (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 0683?
No. The price is what the market pays today (HK$17.68); the fair value is what the company's own numbers justify (HK$41.39). For Kerry Properties Ltd the two are HK$23.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kerry Properties Ltd worth?
The market values Kerry Properties Ltd at about HK$25.6B (market capitalisation, as of Sep 29, 2026). Per share that is HK$17.68; our models calculate a fair value of HK$41.39 per share.
What do the bullish and bearish scenarios say about 0683?
Our models span a range for Kerry Properties Ltd: cautious scenario HK$30.93, base HK$41.39, optimistic HK$53.24 per share (as of Sep 29, 2026, price HK$17.68). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0683?
Kerry Properties Ltd trades at a price-to-earnings ratio of 23.8 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$41.39 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 12.7 (reported for FY2025: 27.3). Other multiples: PEG 1.7, P/B 0.2, P/S 2.1, EV/EBITDA 19.4.
What is the PEG ratio of 0683?
The PEG ratio of Kerry Properties Ltd is 1.72 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kerry Properties Ltd (0683)?
Balance-sheet figures for Kerry Properties Ltd (as of Sep 29, 2026): return on equity 1.2%, debt of 0.47 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 0683 from its 52-week high?
Kerry Properties Ltd trades at HK$17.68, about 27% below its 52-week high of HK$24.23 and 2% above the low of HK$17.29 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of HK$41.39 is for.
Which stocks are comparable to Kerry Properties Ltd?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, CK Asset Holdings, Hongkong Land Holdings, DLF Limited, 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 Properties Ltd stock attractive at the current price?
The data as of Sep 29, 2026: price HK$17.68, calculated fair value HK$41.39 (+134%), Quality Score 59/100, from 12 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 0683 calculated?
We run Kerry Properties Ltd through 12 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$41.39, 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 Properties Ltd currently trades 57 % 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 Properties Ltd (0683)?
The closing price on Sep 29, 2026 was HK$17.68. Our model-based fair value is HK$41.39, about +134% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kerry Properties Ltd right now?
The price is below even our cautious bear case (HK$30.93). The market is more pessimistic than our downside scenario. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Kerry Properties Ltd (0683) come from?
Earnings per share at Kerry Properties Ltd grew −13.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.7 %, EBIT margin −10.2 %, tax rate −5.2 %, residual (interest, one-offs) −2.3 %. 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 Properties Ltd
How large is the market capitalisation of Kerry Properties Ltd (0683)?
The market capitalisation of Kerry Properties Ltd is HK$25.6B (≈ $3.3B). 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 Properties Ltd (0683)?
The price-to-sales ratio of Kerry Properties Ltd is 1.10 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Kerry Properties Ltd (0683)?
The dividend yield of Kerry Properties Ltd is 7.6% (payout 97.1%, on adjusted earnings, reported 208%). 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 Properties Ltd (0683)?
The net margin of Kerry Properties Ltd is 4.6% (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 Properties Ltd (0683)?
The return on equity (ROE) of Kerry Properties Ltd is 1.2% (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 Properties Ltd (0683)?
On an EBIT basis the return on assets of Kerry Properties Ltd is 2.6% (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 Properties Ltd (0683)?
The operating margin of Kerry Properties Ltd is 33.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kerry Properties Ltd (0683)?
Revenue at Kerry Properties Ltd is growing −31.0% versus a year earlier (3y avg +11.6%). 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 Kerry Properties Ltd (0683)?
Earnings per share at Kerry Properties Ltd are growing +21.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kerry Properties Ltd (0683) generate?
The free cash flow of Kerry Properties Ltd is HK$13.9B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Kerry Properties Ltd (0683) carry?
The net debt of Kerry Properties Ltd is HK$39.7B (fiscal year 2025, ≈ 2.9 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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