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Wing Lee Property Investments Limited (0864) Fair Value & Analysis

Real Estate · HK · Market cap HK$74.5M

WL Wing Lee Property Investments Limited 0864 · HK
PriceHK$0.1900
Fair ValueHK$0.2900
Upside+52.6%
Quality54/100
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Weak Growth
Thin margins · 0.0% net margin
Low debt · generates free cash flow
Ranks above peers (6/10)
Narrow moat 33/100
Evidence: Medium Range HK$0.1800 – HK$0.4000 Share as image

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 2 days ago

Share price −1.6% over the past month.

A solid business, screening 53% undervalued on our models.

What matters now

  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$0.1800 to HK$0.4000) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

HK$0.6000 HK$0.1100 Fair Value HK$0.2900 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$0.1100 – HK$0.6000 · fair‑value band HK$0.1800 – HK$0.4000 · the HK$0.1900 price screens below the HK$0.2900 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Wing Lee Property Investments Limited (0864) currently trades at HK$0.1900, while our model-based Fair Value estimate is HK$0.2900, implying the stock looks roughly 52.6% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Real Estate 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: medium), always confirm before acting.

Trailing-twelve-month revenue stands at HK$21.2M. Revenue declined 27.5% year over year. It earns a return on equity of -58.5%. Net debt stands at HK$51.7M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1800 (bear case) to HK$0.4000 (bull case); at HK$0.1900, the current price sits within 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 20% below its 52-week high and 73% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 53%, 0864 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$0.1400 HK$0.1600 HK$0.2000 80
Rev-Margin DCF HK$0.1800 HK$0.2600 HK$0.3600 74
EV/EBITDA HK$0.3400 HK$0.4500 HK$0.5500 54
All 11 models by family
DCF Models
FCF DCF HK$0.1300 HK$0.1600 HK$0.2100 38
5Y Revenue Exit HK$0.1800 HK$0.2600 HK$0.3700 39
5Y EBITDA Exit HK$0.2200 HK$0.3300 HK$0.4700 41
10Y Revenue Exit HK$0.1500 HK$0.2000 HK$0.2600 36
10Y EBITDA Exit HK$0.1800 HK$0.2400 HK$0.3000 37
Multiples
EV/EBIT HK$0.4100 HK$0.5400 HK$0.6700 53
EV/EBITDA HK$0.3400 HK$0.4500 HK$0.5500 54
EV/Revenue HK$0.2400 HK$0.3300 HK$0.4200 43
Asset-Based
NCAV (Graham) HK$0.4000 HK$0.5300 HK$0.8000 50
Growth DCF
Growth DCF HK$0.1400 HK$0.1600 HK$0.2000 80
Rev-Margin DCF HK$0.1800 HK$0.2600 HK$0.3600 74

Widest divergence: Asset-Based (HK$0.5300) versus Growth DCF (HK$0.1600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$21.2M
Revenue growth (YoY) -27.5%
Return on equity -58.5%
Free cash flow HK$6.0M FY2025
Operating margin 22.1%
EPS (TTM) HK$-0.4300
More key figures
EPS growth (YoY) -26.3%
Net debt HK$51.7M FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 55 · Market factors (momentum, volatility) 55

Profitability 2
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 98
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 63
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

Wing Lee Property Investments Limited, an investment holding company, engages in property investment, and leasing of commercial and residential properties in Hong Kong. Its investment properties comprise office premises, retail shops, industrial premises, residential premises, and car parking bays.

Full company description

Wing Lee Property Investments Limited, an investment holding company, engages in property investment, and leasing of commercial and residential properties in Hong Kong. Its investment properties comprise office premises, retail shops, industrial premises, residential premises, and car parking bays. The company was formerly known as Wing Lee Properties Limited and changed its name to Wing Lee Property Investments Limited in August 2012. The company was incorporated in 2012 and is headquartered in Kwun Tong, Hong Kong. Wing Lee Property Investments Limited operates as a subsidiary of Bright Asia Holdings Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wing Lee Property Investments Limited reported revenue of HK$21.5M in FY2025 versus HK$28.9M in FY2021, a compound −7.2%/yr. Reported net income was −HK$268M in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$21.5M
Latest YoY
−20.0%
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.
−9.9%
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.
−6.7%
Avg. growth/yr (16Y) 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.
−5.1%
Revenue −7.2%/yr
FY21 HK$28.9M
FY22 HK$29.3M
FY23 HK$27.8M
FY24 HK$26.8M
FY25 HK$21.5M
Net income
FY21 HK$17.4M
FY22 HK$17.5M
FY23 −HK$47.1M
FY24 −HK$234M
FY25 −HK$268M

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Cite: Fair Value Calculator (2026). "Wing Lee Property Investments Limited Fair Value". https://www.fairvalue-calculator.com/stock/0864

Peer Group

Real Estate Services · 528 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 56 · Above median
Fair Value upside +53% · Above median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 22% · Above median
Revenue growth -28% · Bottom 25%

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/S (TTM) 0.45× · Cheaper than median
P/FCF 1.6× · Cheaper than median

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 34
FUTURE 0 · sector 10
PAST 0 · sector 16
HEALTH 100 · sector 85
DIVIDEND 0 · sector 59

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

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is Wing Lee Property Investments Limited (0864) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.2900 versus a price of HK$0.1900, about +53% (undervalued).
What is the fair value of 0864?
Our model-based fair value for Wing Lee Property Investments Limited is HK$0.2900 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.1900.
What is the quality score of 0864?
Wing Lee Property Investments Limited has a Quality Score of 54/100. 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 Wing Lee Property Investments Limited (0864)?
Wing Lee Property Investments Limited reported trailing-twelve-month revenue of about HK$21.2M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0864?
The net profit margin of Wing Lee Property Investments Limited is about 0.0%, meaning it keeps roughly 0.0% 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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