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Artini Holdings Ltd (0789) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$377M (≈ $48.1M) · ISIN BMG051121264

What is Artini Holdings Ltd really worth?

AH Artini Holdings Ltd 0789 · HK
PriceHK$0.8600
Fair ValueHK$0.1000
Upside−88.4%
Quality45/100

Below-average quality, and trading another 760% above our fair value of HK$0.1000.

As of Sep 6, 2026, the fair value of Artini Holdings Ltd is HK$0.1000 per share against a price of HK$0.8600, so the fair value sits 88% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Weak Growth (revenue 5y −7.9 %/yr)
!Thin margins · 3.0% net margin
!Low debt · negative free cash flow
!Mixed vs. peers (6/12)
!Narrow moat 20/100
!Evidence only low, so the estimate is less certain
!Weak on past: 13 out of 100
Evidence: Low Range HK$0.0700 – HK$0.1200

Fair value as of: Sep 6, 2026

From 13 valuation models · updated today

Share price −27.1% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (HK$0.1200). The favourable scenario is already priced in.
  • 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 but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

HK$1.60 HK$0.0460 Fair Value HK$0.1000 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 6, 2026.

How to read this chart

60‑month range HK$0.0460 – HK$1.60 · fair‑value band HK$0.0700 – HK$0.1200 · the HK$0.8600 price screens above the HK$0.1000 fair value. Dashed = 300-day average. As of Sep 6, 2026.

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Analysis

Artini Holdings Ltd (0789) currently trades at HK$0.8600, while our model-based Fair Value estimate is HK$0.1000, implying the stock looks roughly 759.8% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Dividend Discount group reads highest at a median of HK$0.3900 per share, and 0 of the 13 models we run sit above the HK$0.8600 price. Bear case: the Earnings-Based group reads lowest at HK$0.0500, and 13 of the 13 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Artini Holdings Ltd generated revenue of HK$164M at a net margin of 3.0%. Revenue grew 24.4% year over year. It earns a return on equity of 3.3%. The balance sheet holds a net cash position of HK$48.7M. Fundamentals as of Sep 6, 2026

Our scenario range runs from HK$0.0700 (bear case) to HK$0.1200 (bull case); at HK$0.8600, 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 near its 52-week high and 219% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −6% fair-value upside, at −88%, 0789 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (HK$0.0500 to HK$0.4200). Read the values as a conservative anchor, not as a price target.
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
Owner Earnings best evidence HK$0.0700 HK$0.0900 HK$0.1100 76
Residual Income HK$0.1000 HK$0.1000 HK$0.0800 74
EV/EBITDA HK$0.0500 HK$0.0600 HK$0.0600 67
All 13 models by family
DCF Models
Owner Earnings best evidence HK$0.0700 HK$0.0900 HK$0.1100 76
Earnings-Based
Graham-Dodd HK$0.0400 HK$0.1500 HK$0.2000 62
Lynch FV HK$0.0300 HK$0.0500 HK$0.0600 59
PEG = 1.0 HK$0.0300 HK$0.0500 HK$0.0600 55
Dividend Discount
Gordon GGM HK$0.2300 HK$0.4200 HK$0.5800 65
DDM Multi-Stage HK$0.2300 HK$0.3900 HK$0.4500 65
Multiples
P/E Multiple HK$0.0900 HK$0.1300 HK$0.1600 63
P/S Multiple HK$0.0700 HK$0.1000 HK$0.1200 58
P/B Multiple HK$0.0700 HK$0.1000 HK$0.1200 55
EV/EBITDA HK$0.0500 HK$0.0600 HK$0.0600 67
Asset-Based
NCAV (Graham) HK$0.0700 HK$0.0900 HK$0.1300 54
Economic Profit
Residual Income HK$0.1000 HK$0.1000 HK$0.0800 74
Growth Earnings
Growth-Adj P/E HK$0.0700 HK$0.1000 HK$0.1200 66

Widest divergence: Dividend Discount (HK$0.3900) versus Earnings-Based (HK$0.0500). Highest evidence: Owner Earnings (76).

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Key figures & financial health

P/S ratio 2.30 TTM
Dividend yield 10.6%
Net margin 5.0% FY2025
Return on equity 3.3% TTM
Return on assets (EBIT) −7.3% avg 5y
Operating margin −0.6% TTM
More key figures
Growth
Revenue (TTM) HK$164M TTM
Revenue growth (YoY) +24.4% 3y avg +25.1%
EPS growth (YoY) −50.2%
Balance sheet & cash flow
Free cash flow −HK$46.9M FY2025
Net cash HK$48.7M FY2025

Figures from reported company fundamentals · as of Sep 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 85

Profitability 36
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 25
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Artini Holdings Limited, an investment holding company, sells fashion accessories products in Hong Kong, Macao, the United States, the People Republic of China, and internationally. It operates through Integrated Fashion Accessories Platform Business; and Skincare and Health Product Sales Platform Business segments.

Full company description

Artini Holdings Limited, an investment holding company, sells fashion accessories products in Hong Kong, Macao, the United States, the People Republic of China, and internationally. It operates through Integrated Fashion Accessories Platform Business; and Skincare and Health Product Sales Platform Business segments. The company offers necklaces, bracelets, earrings, and brooches under the Artini brand. It also sells skincare and health products; and provides management services. The company sells its products through self-operated online platform and third-party sales online platforms. Artini Holdings Limited was founded in 1992 and is based in Kowloon, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Artini Holdings Ltd reported revenue of HK$151M in FY2025 versus HK$79.4M in FY2021, a compound +17.4%/yr. Reported net income was HK$7.6M in FY2025.

Growth Quality 12/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$151M
Latest YoY
+111.7%
Avg. revenue 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.
+25.1%
Avg. revenue 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.
−7.9%
Avg. revenue growth/yr (20Y) ⓘ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%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−9.3% · in HKD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−19.9%
Dividend yield10.6%
Operating margin (EBIT) ⓘ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.5.7% (2020) → −1.2% (2025) · falling
Worst earnings drop263% (2022) (loss year, drop beyond 100%) · in HKD
⚠ Revenue per share shrinking 21.2%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Revenue +17.4%/yr
FY21 HK$79.4M
FY22 HK$77.0M
FY23 HK$63.7M
FY24 HK$71.2M
FY25 HK$151M
Net income
FY21 −HK$26.6M
FY22 −HK$22.4M
FY23 −HK$1.4M
FY24 HK$6.8M
FY25 HK$7.6M

0789 screens 760% overvalued. Compare with Hermès International Société en commandite par actions →

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Artini Holdings Ltd · Fair Value
HK$0.1000 −760%Fair Value
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Cite: Fair Value Calculator (2026). "Artini Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0789

Peer Group

Luxury Goods · 135 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 45 · Below median
Fair Value upside −88% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) −1% · Bottom 25%
Revenue growth 24% · Above median
Dividend yield (TTM) 10.6% · Top 25%

Valuation Multiples vs Luxury Goods median · lower = cheaper

P/B 0.27× · Cheaper than 75% of peers
P/S (TTM) 0.29× · Cheaper than median
PEG 0.37× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 10
FUTURE100 · sector 50
PAST13 · sector 40
HEALTH100 · sector 99
DIVIDEND100 · sector 42

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Sep 6, 2026).

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Titan Company TITAN ₹5,106 ₹972.23 −81%
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Chow Tai Fook Jewellery Group 1929 HK$12.31 HK$11.51 −6%
The Swatch Group UHRN CHF 36.35 CHF 8.46 −77%
Prada S.p.A 1913 HK$40.86 HK$64.71 +58%
Pandora A/S PNDORA kr 783.00 kr 1,424 +82%
Laopu Gold Co 6181 HK$385.00 HK$654.83 +70%

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Frequently asked questions

Is Artini Holdings Ltd (0789) overvalued or undervalued?
As of Sep 6, 2026, our model estimates a fair value of HK$0.1000 versus a price of HK$0.8600, about −88% upside (overvalued).
What is the fair value of 0789?
Our model-based fair value for Artini Holdings Ltd is HK$0.1000 (as of Sep 6, 2026), built from audited fundamentals. The current price: HK$0.8600.
What is the quality score of 0789?
Artini Holdings Ltd has a Quality Score of 45/100. 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 Artini Holdings Ltd (0789)?
Our model-based price target is the fair value of HK$0.1000 (as of Sep 6, 2026) from 13 valuation models. Cautious scenario HK$0.0700, optimistic scenario HK$0.1200. It is a calculation from audited fundamentals, not an analyst target.
What is the Artini Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.1000, about −88% upside versus a price of HK$0.8600 (overvalued). Cautious scenario HK$0.0700, optimistic scenario HK$0.1200. The calculation is refreshed regularly with new filings.
What is the revenue of Artini Holdings Ltd (0789)?
Artini Holdings Ltd reported trailing-twelve-month revenue of about HK$164M (latest available figure, as of Sep 6, 2026).
What is the net profit margin of 0789?
The net profit margin of Artini Holdings Ltd is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does Artini Holdings Ltd pay a dividend?
Artini Holdings Ltd currently shows a dividend yield of about 10.60% relative to its recent price (as of Sep 6, 2026).
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