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Future Bright Holdings (0703) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$84.0M

FB Future Bright Holdings 0703 · HK
PriceHK$0.0910
Fair ValueHK$0.1925
Upside+111.5%
Quality58/100
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Mixed Growth
Thin margins · 0.9% net margin
Moderate debt · generates free cash flow
Ranks above peers (9/13)
Narrow moat 32/100
Evidence: High Range HK$0.1088 – HK$0.2018 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$0.1980 to HK$0.1925 (−2.8%) since Aug 5, 2026. Share price −17.3% over the past month.

A solid business, screening 112% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$0.1088). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$0.1088 to HK$0.2018) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$0.2950 HK$0.0910 Fair Value HK$0.1925 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$0.0910 – HK$0.2950 · fair‑value band HK$0.1088 – HK$0.2018 · the HK$0.0910 price screens below the HK$0.1925 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Future Bright Holdings (0703) currently trades at HK$0.0910, while our model-based Fair Value estimate is HK$0.1925, implying the stock looks roughly 111.5% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Future Bright Holdings generated revenue of HK$492M at a net margin of 0.9%. Revenue grew 2.2% year over year. It earns a return on equity of 1.7%. Net debt stands at HK$324M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1088 (bear case) to HK$0.2018 (bull case); at HK$0.0910, 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 54% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -51% fair-value upside, at 112%, 0703 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$0.8500 HK$1.47 HK$2.33 80
Residual Income HK$0.3400 HK$0.3000 HK$0.1900 76
Rev-Margin DCF HK$0.5200 HK$0.9600 HK$1.54 74
All 24 models by family
DCF Models
FCF DCF HK$0.8800 HK$1.62 HK$2.73 38
Owner Earnings HK$0.5100 HK$1.01 HK$1.75 31
5Y Revenue Exit HK$0.5200 HK$0.9500 HK$1.53 39
5Y EBITDA Exit HK$0.9200 HK$1.82 HK$2.96 41
5Y P/E Exit HK$0.2600 HK$0.4200 HK$0.5800 38
10Y Revenue Exit HK$0.6400 HK$1.07 HK$1.72 36
10Y EBITDA Exit HK$0.8800 HK$1.63 HK$2.77 37
10Y P/E Exit HK$0.5000 HK$0.7400 HK$1.02 35
Earnings-Based
Graham-Dodd HK$0.0500 HK$0.2300 HK$0.3200 54
Lynch FV HK$0.0600 HK$0.0900 HK$0.1200 50
PEG = 1.0 HK$0.0600 HK$0.0900 HK$0.1200 46
EPV HK$0.1300 HK$0.1800 HK$0.2100 59
Multiples
P/E Multiple HK$0.1100 HK$0.1500 HK$0.1800 63
P/S Multiple HK$0.0800 HK$0.1100 HK$0.1400 58
P/B Multiple HK$0.0800 HK$0.1100 HK$0.1400 55
EV/EBIT HK$0.5400 HK$0.8100 HK$1.07 53
EV/EBITDA HK$1.07 HK$1.51 HK$1.95 54
EV/Revenue HK$0.2900 HK$0.5200 HK$0.7400 43
Asset-Based
NCAV (Graham) HK$0.2800 HK$0.3700 HK$0.5500 50
Growth DCF
Growth DCF HK$0.8500 HK$1.47 HK$2.33 80
Rev-Margin DCF HK$0.5200 HK$0.9600 HK$1.54 74
Economic Profit
Residual Income HK$0.3400 HK$0.3000 HK$0.1900 76
ROIC Compounder HK$0.1300 HK$0.1800 HK$0.2100 72
Growth Earnings
Growth-Adj P/E HK$0.1000 HK$0.1400 HK$0.1800 68

Widest divergence: DCF Models (HK$1.01) versus Earnings-Based (HK$0.0900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$492M
Revenue growth (YoY) +2.2%
Net margin 0.9%
Return on equity 1.7%
Free cash flow HK$80.6M FY2025
P/E ratio 9.1
More key figures
Operating margin 9.0%
EPS (TTM) HK$0.0100
EPS growth (YoY) +1,515%
Net debt HK$324M 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 56 · Market factors (momentum, volatility) 20

Profitability 22
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 82
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

Future Bright Holdings Limited, an investment holding company, engages in the operation of restaurants, catering, and food souvenir businesses in Hong Kong, Macau, and Mainland China. The company operates in three segments: Food and Catering, Food Souvenir, and Property Investment.

Full company description

Future Bright Holdings Limited, an investment holding company, engages in the operation of restaurants, catering, and food souvenir businesses in Hong Kong, Macau, and Mainland China. The company operates in three segments: Food and Catering, Food Souvenir, and Property Investment. It is involved in the sale of food and catering; food souvenirs, such as festival food products; and operation of food processing centers, and coffee shops. The company also provides administrative and supporting services; invests in and leases properties; operation of franchise restaurant; and trades in food products, as well as offers institutional catering, entertainment, and laundry service. Future Bright Holdings Limited was founded in 1984 and is headquartered in Central, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Future Bright Holdings reported revenue of HK$492M in FY2025 versus HK$475M in FY2021, a compound +0.9%/yr. Reported net income was HK$4.6M in FY2025.

Growth Quality 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$492M
Latest YoY
+2.6%
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.
+20.0%
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.
+3.3%
Avg. growth/yr (24Y) 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.
+7.8%
Revenue +0.9%/yr
FY21 HK$475M
FY22 HK$285M
FY23 HK$491M
FY24 HK$480M
FY25 HK$492M
Net income
FY21 −HK$73.0M
FY22 −HK$126M
FY23 HK$48.6M
FY24 HK$6.0M
FY25 HK$4.6M

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Cite: Fair Value Calculator (2026). "Future Bright Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0703

Peer Group

Restaurants · 226 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 +109% · Top 25%
Return on equity (TTM) 2% · Below median
Return on assets 3% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth 2% · Below median
Debt / equity 0.62× · Higher than 75% of peers

Valuation Multiples vs Restaurants median · lower = cheaper

P/E (TTM) 9.1× · Cheaper than 75% of peers
P/B 0.22× · Cheaper than 75% of peers
P/S (TTM) 0.17× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 3.8× · Cheaper 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 100 · sector 22
FUTURE 11 · sector 19
PAST 7 · sector 16
HEALTH 69 · sector 97
DIVIDEND 0 · sector 71

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

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCDS C$24.01 C$10.84 -55%
Starbucks Corporation SBUX $108.49 $35.83 -67%
Chipotle Mexican Grill, Inc CMG $32.00 $17.92 -44%
Yum! Brands, Inc YUM $150.34 $58.17 -61%
Restaurant Brands International Inc QSR C$104.50 C$36.37 -65%
Darden Restaurants, Inc DRI $218.90 $173.68 -21%
Yum China Holdings YUMC $47.90 $54.27 +13%
Texas Roadhouse, Inc TXRH $214.28 $104.89 -51%
Dutch Bros Inc BROS $51.02 $12.80 -75%
Domino's Pizza, Inc DPZ $353.72 $227.31 -36%

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Frequently asked questions

Is Future Bright Holdings (0703) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1925 versus a price of HK$0.0910, about +112% (undervalued).
What is the fair value of 0703?
Our model-based fair value for Future Bright Holdings is HK$0.1925 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.0910.
What is the quality score of 0703?
Future Bright 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 Future Bright Holdings (0703)?
Future Bright Holdings reported trailing-twelve-month revenue of about HK$492M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0703?
The net profit margin of Future Bright Holdings is about 0.9%, meaning it keeps roughly 0.9% of revenue as net income. Based on the latest reported figures.

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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