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Shoucheng Holdings (0697) Fair Value & Analysis

Industrials · HK · Market cap HK$12.3B

SH Shoucheng Holdings 0697 · HK
PriceHK$1.71
Fair ValueHK$1.69
Upside-0.8%
Quality58/100
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Mixed Growth
Highly profitable · 21.6% net margin
Low debt · generates free cash flow
2.39% dividend yield
Trails peers (4/14)
Narrow moat 39/100
Evidence: High Range HK$1.24 – HK$1.69 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.9400 to HK$1.69 (+80.0%) since Aug 5, 2026. Share price +2.7% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from HK$1.24 (bear) to HK$1.69 (bull), base HK$1.69. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

HK$2.44 HK$0.7011 Fair Value HK$1.69 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$0.7011 – HK$2.44 · fair‑value band HK$1.24 – HK$1.69 · the HK$1.71 price screens above the HK$1.69 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Shoucheng Holdings (0697) currently trades at HK$1.71, while our model-based Fair Value estimate is HK$1.69, implying the stock looks roughly 0.8% fairly valued today. The Quality Score stands at 58/100 (solid quality), in the Industrials 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, Shoucheng Holdings generated revenue of HK$1.4B at a net margin of 21.6%. Revenue grew 3.9% year over year. It earns a return on equity of 2.8%. The balance sheet holds a net cash position of HK$697M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.24 (bear case) to HK$1.69 (bull case); at HK$1.71, 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 33% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at -1%, 0697 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
Growth DCF HK$1.81 HK$3.34 HK$6.14 80
Residual Income HK$0.9900 HK$0.9600 HK$0.8000 76
Rev-Margin DCF HK$0.9500 HK$1.28 HK$1.69 74
All 24 models by family
DCF Models
FCF DCF HK$1.87 HK$3.04 HK$6.16 38
Owner Earnings HK$1.44 HK$2.71 HK$5.28 31
5Y Revenue Exit HK$0.9500 HK$1.26 HK$1.72 39
5Y EBITDA Exit HK$1.20 HK$1.83 HK$2.74 41
5Y P/E Exit HK$1.20 HK$1.87 HK$2.67 38
10Y Revenue Exit HK$1.22 HK$1.68 HK$2.25 36
10Y EBITDA Exit HK$1.40 HK$2.13 HK$3.33 37
10Y P/E Exit HK$1.40 HK$2.13 HK$3.27 35
Earnings-Based
Graham-Dodd HK$0.2600 HK$1.69 HK$2.37 54
Lynch FV HK$0.4900 HK$0.7000 HK$0.9100 50
PEG = 1.0 HK$0.4900 HK$0.7000 HK$0.9100 46
EPV HK$0.4900 HK$0.5100 HK$0.5400 59
Multiples
P/E Multiple HK$0.6100 HK$0.8100 HK$1.01 63
P/S Multiple HK$0.2700 HK$0.3600 HK$0.4500 58
P/B Multiple HK$0.4900 HK$0.6600 HK$0.8200 55
EV/EBIT HK$0.6800 HK$0.8000 HK$0.9100 53
EV/EBITDA HK$0.9500 HK$1.16 HK$1.36 54
EV/Revenue HK$0.5700 HK$0.6600 HK$0.7600 43
Asset-Based
NCAV (Graham) HK$0.6900 HK$0.9200 HK$1.38 50
Growth DCF
Growth DCF HK$1.81 HK$3.34 HK$6.14 80
Rev-Margin DCF HK$0.9500 HK$1.28 HK$1.69 74
Economic Profit
Residual Income HK$0.9900 HK$0.9600 HK$0.8000 76
ROIC Compounder HK$0.4900 HK$0.5100 HK$0.5400 72
Growth Earnings
Growth-Adj P/E HK$0.6900 HK$0.9900 HK$1.29 68

Widest divergence: DCF Models (HK$1.87) versus Economic Profit (HK$0.5100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$1.4B
Revenue growth (YoY) +3.9%
Net margin 21.6%
Return on equity 2.8%
Free cash flow HK$817M FY2025
P/E ratio 38.3 as of Jul 2, 2026
More key figures
Operating margin 9.7%
EPS (TTM) HK$0.0500
Dividend yield 2.4%
EPS growth (YoY) +30.6%
Net cash HK$697M FY2025

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 38

Profitability 29
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 39
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

Shoucheng Holdings Limited, an investment holding company, engages in the infrastructure asset management business. It also offers private fund, asset management services; management services; equity investment; and operates carparks, as well as provides equity investments.

Full company description

Shoucheng Holdings Limited, an investment holding company, engages in the infrastructure asset management business. It also offers private fund, asset management services; management services; equity investment; and operates carparks, as well as provides equity investments. The company was formerly known as Shougang Concord International Enterprises Company Limited and changed its name to Shoucheng Holdings Limited in May 2020. Shoucheng Holdings Limited was incorporated in 1985 and is based in North Point, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shoucheng Holdings reported revenue of HK$1.4B in FY2025 versus HK$1.2B in FY2021, a compound +4.7%/yr. Reported net income was HK$310M in FY2025.

Growth Quality 87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$1.4B
Latest YoY
+18.2%
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.
−3.5%
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.
+15.3%
Avg. growth/yr (26Y) ⓘ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 +4.7%/yr
FY21 HK$1.2B
FY22 HK$1.6B
FY23 HK$883M
FY24 HK$1.2B
FY25 HK$1.4B
Net income
FY21 −HK$1.1B
FY22 HK$922M
FY23 HK$404M
FY24 HK$410M
FY25 HK$310M

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Shoucheng Holdings · Fair Value
HK$1.69 −1%Fair Value
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Cite: Fair Value Calculator (2026). "Shoucheng Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0697

Peer Group

Infrastructure Operations · 68 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 58 · Above median
Fair Value upside −1% · Below median
Return on equity (TTM) 3% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 22% · Above median
Operating margin (TTM) 10% · Below median
Revenue growth 4% · Above median
Dividend yield (TTM) 2.4% · Below median
Debt / equity 0.09× · Lower than 75% of peers

Valuation Multiples vs Infrastructure Operations median · lower = cheaper

P/E (TTM) 38.3× · Pricier than 75% of peers
P/B 1.11× · Pricier than median
P/S (TTM) 8.55× · Pricier than 75% of peers
P/FCF 1.9× · Pricier than median
EV/EBITDA 34.5× · Pricier than 75% of peers

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 32 · sector 46
FUTURE 20 · sector 10
PAST 11 · sector 25
HEALTH 96 · sector 71
DIVIDEND 48 · sector 81

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 Infrastructure Operations stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Merchants Expressway Network & Technology Holdings 001965 ¥9.36 ¥10.25 +10%
Jiangsu Expressway Company 600377 ¥12.01 ¥14.47 +20%
Shandong Hi-speed Company 600350 ¥10.87 ¥8.68 -20%
Impulsora del Desarrollo y el Empleo en América Latina, S.A. IDEALB1 43.00 MXN 33.24 MXN -23%
Promotora y Operadora de Infraestructura, S. A. B. de C. V. PINFRA 281.25 MXN 945.00 MXN +236%
Motiva Infraestrutura de Mobilidade S.A MOTV3 R$14.03 R$29.97 +114%
Zhejiang Expressway Co 0576 HK$6.26 HK$18.50 +196%
Guangdong Provincial Expressway Development Co 000429 ¥13.16 ¥13.79 +5%
Anhui Expressway Company 600012 ¥16.50 ¥14.90 -10%
Shenzhen Expressway Corporation 600548 ¥8.37 ¥9.16 +9%

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Frequently asked questions

Is Shoucheng Holdings (0697) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.69 versus a price of HK$1.71, about −1% (fairly valued).
What is the fair value of 0697?
Our model-based fair value for Shoucheng Holdings is HK$1.69 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.71.
What is the quality score of 0697?
Shoucheng Holdings has a Quality Score of 58/100. 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 Shoucheng Holdings (0697)?
Shoucheng Holdings reported trailing-twelve-month revenue of about HK$1.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0697?
The net profit margin of Shoucheng Holdings is about 21.6%, meaning it keeps roughly 21.6% of revenue as net income. Based on the latest reported figures.
Does Shoucheng Holdings pay a dividend?
Shoucheng Holdings currently shows a dividend yield of about 2.39% 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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