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Hanison Construction Holdings Ltd (0896) fair value: what the stock is really worth

As of Nov 13, 2026: fair value (intrinsic value) of Hanison Construction Holdings Ltd stock HK$0.58, price HK$0.29, upside +103.5%, quality 34 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Industrials HK · ISIN KYG428581030

HC Hanison Construction Holdings Ltd logo Thin data Nov 9, 2026

Hanison Construction Holdings Ltd

0896 · HK

Cheap (51% below fair value) and rising price, but weak company: meets 2 of 3 rules.

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Fair value HK$0.5800 · Strongly undervalued 
Rising price (uptrend) 
Low debt 
Even on cautious assumptions the value is 33% above the price (HK$0.3800). 
Mixed Growth (revenue 5y +1.2 %/yr in HKD) 
Mixed vs. peers (6/11) 
Quality 34/100 
Loss-making · -58.1% net margin (TTM) 
Negative free cash flow 
Narrow moat 16/100 · thin data
Thin data 
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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 →

Price vs Fair Value

HK$1.19 HK$0.2120 Fair Value HK$0.5800 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range HK$0.2120 – HK$1.19 · fair‑value band HK$0.3800 – HK$0.7300 · the HK$0.2850 price screens below the HK$0.5800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.

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Company profile

Hanison Construction Holdings Limited, an investment holding company, engages in the construction, decoration, maintenance, and building materials business in Hong Kong.

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It operates through seven segments: Construction; Interior and Renovation Works; Design, Supply and Installation of Building Materials; Sales of Health Products; Property Investment; Property Development; and Provision of Property Agency and Management Services.

The company operates as a builder for residential, commercial, and industrial properties, as well as educational and recreational facilities; and provides design-and-build services.

It is also involved in supplying and installing of building materials, such as kitchen cabinets, timber flooring, engineering flooring, suspended ceiling systems, Firex Board, and polyboards; and supplying plumbing pipes and tubes, fittings, and other related accessories, including galvanized pipes, black pipes, stainless steel pipes and tubes, and polyethylene pipes.

In addition, the company engages in the maintenance and renovation of clubhouses, shopping arcades, office premises, residential properties, industrial buildings, and institutional facilities; and property/project development consisting of land acquisition/feasibility study, design, construction, sales, and marketing services.

Further, the company provides property agency and management services, such as property management, rental collection, agency, and leasing services; and sells health supplements, health care equipment, and traditional Chinese medicine. Additionally, it provides plant maintenance services.

Hanison Construction Holdings Limited was founded in 1989 and is headquartered in Sha Tin, Hong Kong.

Stock analysis

Hanison Construction Holdings Ltd (0896) currently trades at HK$0.2850, while our model-based Fair Value estimate is HK$0.5800, implying the stock looks roughly 51% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: HK$0.3800 (bear) to HK$0.7300 (bull), the price of HK$0.2850 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 34/100 (below-average quality), in the Industrials sector.

Mixed Growth: Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.

Hanison Construction Holdings Ltd reported revenue of HK$1.5B in FY2026 versus HK$1.4B in FY2022, a compound +1.8%/yr. Reported net income was −HK$896M in FY2026.

Key figures

Market cap HK$306M (≈ $39.0M) Micro · P/S ratio 0.21 · EPS (TTM) HK$−0.2600 · Net margin −58.1% · Return on equity −29.6% · Return on assets (EBIT) −1.3% (5-year average) · Operating margin 5.0% · Revenue (TTM) HK$1.5B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (low confidence).

What moves the price

The share trades about 5% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 104%, 0896 screens cheaper than that median.

Fair Value models

Bear HK$0.3800 Fair Value HK$0.5800 Bull HK$0.7300
Price HK$0.2850 · Upside +103.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) HK$0.3800 HK$0.5800 HK$0.7300 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.3800 HK$0.5800 HK$0.7300 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 34/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 3
How much profit the company makes from its sales and capital
Quality Growth 18
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 40
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 66
How calm the share price moves, does not count
Price momentum 48
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 67
Distance to the 52-week high, does not count
New shares 86
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 55/100
Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.
Revenue growth 1 year
−22.3%
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.
+7.7%
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.
+1.2%
Start year 2021 (pandemic)
Revenue growth 6 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.
+8.3%
Profit margin (trend) ⓘ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.
−4.4% (2021) → −18.5% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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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.Engineering & Construction · 826 stocks

Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside +103.5% · Top 25%
Profitability
Return on assets −17.5% · Bottom 25%
Net margin (12 months) −58.1% · Bottom 25%
Operating margin (12 months) 5.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) −23.0% · Bottom 25%
Balance sheet
Debt / equity 0.05× · Below median

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B 0.12× · Cheapest 25%
P/S (12 months) 0.20× · Cheapest 25%
EV/EBITDA 7.6× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 33
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 26
HEALTH (low debt)98 · sector 94
DIVIDEND (yield)0 · sector 42

Context: sector, industry, market

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vinci SA DG €115.50 €186.68 +62% vs 0896
Bouygues SA EN €44.30 €65.77 +48% vs 0896
Comfort Systems USA, Inc FIX $1,113 $1,122 +1% vs 0896
EMCOR Group EME $659.36 $524.14 −21% vs 0896
ACS, Actividades de Construcción y Servicios, S.A ACS €91.05 €62.38 −31% vs 0896
Samsung C&T Corporation 028260 285,000 KRW 159,702 KRW −44% vs 0896
Larsen & Toubro Limited LT ₹4,144 ₹2,302 −44% vs 0896
HOCHTIEF Aktiengesellschaft HOT €374.40 €203.86 −46% vs 0896
APi Group APG $43.47 $19.20 −56% vs 0896
Quanta Services, Inc PWR $602.01 $162.41 −73% vs 0896

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Hanison Construction Holdings Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Hanison Construction Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0896

Frequently asked questions

Is Hanison Construction Holdings Ltd (0896) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of HK$0.5800 versus a price of HK$0.2850, about +104% upside (undervalued).
What is the fair value of 0896?
Our model-based fair value for Hanison Construction Holdings Ltd is HK$0.5800 (as of Nov 9, 2026), built from audited fundamentals. The current price: HK$0.2850.
What is the quality score of 0896?
Hanison Construction Holdings Ltd has a Quality Score of 34/100. 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 Hanison Construction Holdings Ltd (0896)?
Our model-based price target is the fair value of HK$0.5800 (as of Nov 9, 2026) from 1 valuation models. Cautious scenario HK$0.3800, optimistic scenario HK$0.7300. It is a calculation from audited fundamentals, not an analyst target.
What is the Hanison Construction Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.5800, about +104% upside versus a price of HK$0.2850 (undervalued). Cautious scenario HK$0.3800, optimistic scenario HK$0.7300. The calculation is refreshed regularly with new filings.
What is the revenue of Hanison Construction Holdings Ltd (0896)?
Hanison Construction Holdings Ltd reported trailing-twelve-month revenue of about HK$1.5B (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Hanison Construction Holdings Ltd (0896)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hanison Construction Holdings Ltd it is HK$0.5800 per share (as of Nov 9, 2026), against a price of HK$0.2850. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Hanison Construction Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 0896 trades below its calculated fair value: price HK$0.2850, fair value HK$0.5800, a gap of about +104% (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 0896?
No. The price is what the market pays today (HK$0.2850); the fair value is what the company's own numbers justify (HK$0.5800). For Hanison Construction Holdings Ltd the two are HK$0.2950 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hanison Construction Holdings Ltd worth?
The market values Hanison Construction Holdings Ltd at about HK$306M (market capitalisation, as of Nov 9, 2026). Per share that is HK$0.2850; our models calculate a fair value of HK$0.5800 per share.
What do the bullish and bearish scenarios say about 0896?
Our models span a range for Hanison Construction Holdings Ltd: cautious scenario HK$0.3800, base HK$0.5800, optimistic HK$0.7300 per share (as of Nov 9, 2026, price HK$0.2850). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hanison Construction Holdings Ltd (0896)?
Balance-sheet figures for Hanison Construction Holdings Ltd (as of Nov 9, 2026): return on equity −29.6%, debt of 0.05 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is 0896 from its 52-week high?
Hanison Construction Holdings Ltd trades at HK$0.2850, about 5% below its 52-week high of HK$0.3000 and 34% above the low of HK$0.2120 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.5800 is for.
Which stocks are comparable to Hanison Construction Holdings Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, 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 Hanison Construction Holdings Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price HK$0.2850, calculated fair value HK$0.5800 (+104%), Quality Score 34/100, from 1 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 0896 calculated?
We run Hanison Construction Holdings Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of HK$0.5800 builds on their evidence-weighted average, 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 13.9% above its aggregate fair value. Hanison Construction Holdings Ltd currently trades 51% 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 Hanison Construction Holdings Ltd (0896)?
The closing price on Nov 13, 2026 was HK$0.2850. Our model-based fair value is HK$0.5800, about +104% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hanison Construction Holdings Ltd right now?
The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$0.3800). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$0.3800 to HK$0.7300) leaves room in how you read the outcome.

Key figures of Hanison Construction Holdings Ltd

How large is the market capitalisation of Hanison Construction Holdings Ltd (0896)?
The market capitalisation of Hanison Construction Holdings Ltd is HK$306M (≈ $39.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hanison Construction Holdings Ltd (0896)?
The price-to-sales ratio of Hanison Construction Holdings Ltd is 0.21 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hanison Construction Holdings Ltd (0896)?
Earnings per share at Hanison Construction Holdings Ltd are HK$−0.2600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Hanison Construction Holdings Ltd (0896)?
The net margin of Hanison Construction Holdings Ltd is −58.1% (fiscal year 2026). 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 Hanison Construction Holdings Ltd (0896)?
The return on equity (ROE) of Hanison Construction Holdings Ltd is −29.6% (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 Hanison Construction Holdings Ltd (0896)?
On an EBIT basis the return on assets of Hanison Construction Holdings Ltd is −1.3% (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 Hanison Construction Holdings Ltd (0896)?
The operating margin of Hanison Construction Holdings Ltd is 5.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hanison Construction Holdings Ltd (0896)?
Revenue at Hanison Construction Holdings Ltd is growing −23.0% versus a year earlier (3y avg +7.7%). 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 Hanison Construction Holdings Ltd (0896)?
Earnings per share at Hanison Construction Holdings Ltd are growing −36.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hanison Construction Holdings Ltd (0896) generate?
The free cash flow of Hanison Construction Holdings Ltd is −HK$108M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hanison Construction Holdings Ltd (0896) carry?
The net debt of Hanison Construction Holdings Ltd is HK$1.1B (fiscal year 2026). 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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