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Multifield International Holdings (0898) Fair Value & Analysis

Real Estate · HK · Market cap HK$794M

MI Multifield International Holdings 0898 · HK
PriceHK$0.9250
Fair ValueHK$2.34
Upside+153.0%
Quality59/100
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Mixed Growth
Low debt · generates free cash flow
5.15% dividend yield
Ranks above peers (8/11)
Narrow moat 44/100
Evidence: Medium Range HK$1.47 – HK$3.20 Share as image

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$2.78 to HK$2.34 (−15.8%) since Aug 5, 2026. Share price −1.6% over the past month.

A solid business, screening 153% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$1.47). The market is more pessimistic than our downside scenario.
  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$1.47 to HK$3.20) 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$1.21 HK$0.6036 Fair Value HK$2.34 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$0.6036 – HK$1.21 · fair‑value band HK$1.47 – HK$3.20 · the HK$0.9250 price screens below the HK$2.34 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Multifield International Holdings (0898) currently trades at HK$0.9250, while our model-based Fair Value estimate is HK$2.34, implying the stock looks roughly 153.0% undervalued today. The Quality Score stands at 59/100 (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$287M. Revenue grew 1.3% year over year. It earns a return on equity of -7.3%. Net debt stands at HK$1.2B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.47 (bear case) to HK$3.20 (bull case); at HK$0.9250, 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 22% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 153%, 0898 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$1.29 HK$3.26 HK$6.46 80
Rev-Margin DCF HK$0.9600 HK$2.70 HK$5.10 74
EV/EBITDA HK$2.25 HK$3.37 HK$4.49 54
All 11 models by family
DCF Models
FCF DCF HK$1.40 HK$2.99 HK$6.86 38
5Y Revenue Exit HK$0.9600 HK$2.68 HK$5.40 39
5Y EBITDA Exit HK$1.84 HK$4.64 HK$8.82 41
10Y Revenue Exit HK$1.03 HK$2.81 HK$5.35 36
10Y EBITDA Exit HK$1.65 HK$4.24 HK$8.76 37
Multiples
EV/EBIT HK$3.17 HK$4.61 HK$6.04 53
EV/EBITDA HK$2.25 HK$3.37 HK$4.49 54
EV/Revenue HK$0.7100 HK$1.50 HK$2.29 43
Asset-Based
NCAV (Graham) HK$4.57 HK$6.12 HK$9.13 50
Growth DCF
Growth DCF HK$1.29 HK$3.26 HK$6.46 80
Rev-Margin DCF HK$0.9600 HK$2.70 HK$5.10 74

Widest divergence: Asset-Based (HK$6.12) versus Growth DCF (HK$2.70). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$287M
Revenue growth (YoY) +1.3%
Net margin -225%
Return on equity -7.3%
Free cash flow HK$173M FY2025
Operating margin 62.6%
More key figures
EPS (TTM) HK$0.2900
Dividend yield 5.2%
EPS growth (YoY) +85.5%
Net debt HK$1.2B FY2025

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 58 · Market factors (momentum, volatility) 44

Profitability 1
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 35
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

Multifield International Holdings Limited, an investment holding company, engages in the investment, development, and management of property in Hong Kong and Mainland China. It operates in three segments: Property Investment; Serviced Apartment Operations and Property Management Services; and Investments in Securities.

Full company description

Multifield International Holdings Limited, an investment holding company, engages in the investment, development, and management of property in Hong Kong and Mainland China. It operates in three segments: Property Investment; Serviced Apartment Operations and Property Management Services; and Investments in Securities. The company owns various properties, including office and industrial buildings, retail shops, and car parks, as well as residential complexes, such as hotel-serviced villas and apartments under the Windsor Renaissance brand name. It also provides property management, administration, and management consultancy services; and provision of serviced apartments. The company is headquartered in Wong Chuk Hang, Hong Kong. Multifield International Holdings Limited operates as a subsidiary of Lucky Speculator Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Multifield International Holdings reported revenue of HK$313M in FY2025 versus HK$268M in FY2021, a compound +3.9%/yr. Reported net income was −HK$645M in FY2025.

Growth Quality 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$313M
Latest YoY
+9.6%
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.
+4.6%
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.
+4.4%
Avg. growth/yr (25Y) 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.
+4.1%
Revenue +3.9%/yr
FY21 HK$268M
FY22 HK$274M
FY23 HK$284M
FY24 HK$286M
FY25 HK$313M
Net income
FY21 HK$421M
FY22 HK$264M
FY23 HK$179M
FY24 HK$235M
FY25 −HK$645M
Character of growth · EPS growth decomposed (2014-2025) −10.9 % p.a.
Revenue per share +2.5 pp

of which total revenue +2.5 pp · buybacks/dilution +0.0 pp

EBIT margin −18.7 pp
Tax rate +0.9 pp
Residual (interest, one-offs) +4.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Multifield International Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0898

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 60 · Above median
Fair Value upside +153% · Top 25%
Return on assets 1% · Below median
Operating margin (TTM) 63% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 5.2% · Above median
Debt / equity 0.17× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/S (TTM) 0.35× · Cheaper than 75% of peers
P/FCF 0.6× · Cheaper than 75% of peers
EV/EBITDA 5.4× · 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 34
FUTURE 7 · sector 10
PAST 0 · sector 16
HEALTH 91 · sector 85
DIVIDEND 100 · 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 Multifield International Holdings (0898) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$2.34 versus a price of HK$0.9250, about +153% (undervalued).
What is the fair value of 0898?
Our model-based fair value for Multifield International Holdings is HK$2.34 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.9250.
What is the quality score of 0898?
Multifield International Holdings has a Quality Score of 59/100. 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 Multifield International Holdings (0898)?
Multifield International Holdings reported trailing-twelve-month revenue of about HK$287M (latest available figure, as of Aug 13, 2026).
Does Multifield International Holdings pay a dividend?
Multifield International Holdings currently shows a dividend yield of about 5.15% 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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