State Energy Group International Assets Holdings Limited (0918) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of State Energy Group International Assets Holdings Limited HK$0.19, price HK$1.55, upside -87.7%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range HK$0.0737 – HK$3.01 · fair‑value band HK$0.1400 – HK$0.2500 · the HK$1.55 price screens above the HK$0.1900 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Majestic Dragon AeroTech Holdings Limited, an investment holding company, engages in the wholesale of garment and sportswear products in Africa, Hong Kong, and Mainland China. It operates through Wholesale Business; Property Investment; and Unmanned Aerial Vehicles Business segments.
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Majestic Dragon AeroTech Holdings Limited, an investment holding company, engages in the wholesale of garment and sportswear products in Africa, Hong Kong, and Mainland China. It operates through Wholesale Business; Property Investment; and Unmanned Aerial Vehicles Business segments. The company is also involved in the wholesale of consumer products including timepieces and accessories; investment and letting of properties, including car parking spaces; sale of unmanned aerial vehicles and related parts; and provision of unmanned aerial vehicle services. Its products are used in various sectors, including logistics, surveillance, and agriculture. The company was formerly known as State Energy Group International Assets Holdings Limited and changed its name to Majestic Dragon AeroTech Holdings Limited in August 2024. Majestic Dragon AeroTech Holdings Limited was founded in 1977 and is based in Hung Hom, Hong Kong.
Stock analysis
State Energy Group International Assets Holdings Limited (0918) currently trades at HK$1.55, while our model-based Fair Value estimate is HK$0.1900, implying the stock looks roughly 713.0% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$0.1800 per share, and 0 of the 10 models we run sit above the HK$1.55 price.
Bear case: the Multiples group reads lowest at HK$0.0200, and 10 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.1400 (bear) to HK$0.2500 (bull), the price of HK$1.55 sits above 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 58/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
State Energy Group International Assets Holdings Limited reported revenue of HK$104M in FY2026 versus HK$207M in FY2022, a compound −15.7%/yr. Reported net income was −HK$5.5M in FY2026.
Key figures
Market cap HK$1.7B (≈ $219M) · P/S ratio 13.0 · EPS (TTM) HK$0.0100 · Net margin −5.3% · Return on equity −2.1% · Return on assets (EBIT) −5.7% · Operating margin −44.6% · Revenue (TTM) HK$104M.
What moves the price
The share trades near its 52-week high and 268% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at −88%, 0918 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (HK$0.0200 to HK$0.3500). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear HK$0.1400Fair Value HK$0.1900Bull HK$0.2500
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (HK$0.0048 per share) are deliberately not added.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 ⓘEvidence = 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.
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.15/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−12.1%
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.
−21.2%
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.
−17.7%
Start year 2021 (pandemic). Over 10 years: −4.1% a year
Revenue growth 26 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.
−5.7%
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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.
6.4% (2021) → −2.9% (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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+36.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +33.6% a year for the price.
Compare State Energy Group International Assets Holdings Limited with another stock
Price, fair value, quality and upside side by side.
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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.Apparel Manufacturing · 216 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−88% · Bottom 25%
Profitability
Return on assets−1% · Bottom 25%
Net margin (TTM)−5% · Bottom 25%
Operating margin (TTM)−45% · Bottom 25%
Growth and dividend
Revenue growth−72% · Bottom 25%
Balance sheet
Debt / equity0.22× · Highest 25%
Valuation Multiplesvs Apparel Manufacturing median · lower = cheaper
P/B0.84× · Cheaper than median
P/S (TTM)2.10× · Priciest 25%
P/FCF7.4× · Priciest 25%
EV/EBITDA52.7× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 32
FUTURE (revenue growth)0· sector 4
PAST (return on equity)0· sector 18
HEALTH (low debt)89· sector 98
DIVIDEND (yield)0· sector 53
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "State Energy Group International Assets Holdings Limited Fair Value". https://www.fairvalue-calculator.com/stock/0918
Frequently asked questions
Is State Energy Group International Assets Holdings Limited (0918) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$0.1900 versus a price of HK$1.55, about −88% upside (overvalued).
What is the fair value of 0918?
Our model-based fair value for State Energy Group International Assets Holdings Limited is HK$0.1900 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$1.55.
What is the quality score of 0918?
State Energy Group International Assets Holdings Limited 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 price target for State Energy Group International Assets Holdings Limited (0918)?
Our model-based price target is the fair value of HK$0.1900 (as of Sep 24, 2026) from 10 valuation models. Cautious scenario HK$0.1400, optimistic scenario HK$0.2500. It is a calculation from audited fundamentals, not an analyst target.
What is the State Energy Group International Assets Holdings Limited stock forecast for 2026?
Our models put fair value at HK$0.1900, about −88% upside versus a price of HK$1.55 (overvalued). Cautious scenario HK$0.1400, optimistic scenario HK$0.2500. The calculation is refreshed regularly with new filings.
What is the revenue of State Energy Group International Assets Holdings Limited (0918)?
State Energy Group International Assets Holdings Limited reported trailing-twelve-month revenue of about HK$104M (latest available figure, as of Sep 24, 2026).
What growth is priced into State Energy Group International Assets Holdings Limited (0918)?
For today's price to be fair in a discounted-cash-flow model, State Energy Group International Assets Holdings Limited would have to grow free cash flow by +36.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -17.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0918 use?
Our models discount State Energy Group International Assets Holdings Limited at 11.8 %: a base by market capitalisation (micro), damped by beta 0.14, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For State Energy Group International Assets Holdings Limited that is +36.5 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has State Energy Group International Assets Holdings Limited (0918) delivered so far?
Over the past 5 years revenue at State Energy Group International Assets Holdings Limited grew -17.7 % a year. The price currently implies +36.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of State Energy Group International Assets Holdings Limited (0918) growing?
The median revenue growth in the sector is +2.5 % a year. That is the yardstick for the growth priced into State Energy Group International Assets Holdings Limited (+36.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of State Energy Group International Assets Holdings Limited (0918)?
The free-cash-flow yield on the price is 1.73 %: that much free cash flow State Energy Group International Assets Holdings Limited produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of State Energy Group International Assets Holdings Limited (0918)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For State Energy Group International Assets Holdings Limited it is HK$0.1900 per share (as of Sep 24, 2026), against a price of HK$1.55. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is State Energy Group International Assets Holdings Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0918 trades above its calculated fair value: price HK$1.55, fair value HK$0.1900, a gap of about −88% (overvalued). 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 0918?
No. The price is what the market pays today (HK$1.55); the fair value is what the company's own numbers justify (HK$0.1900). For State Energy Group International Assets Holdings Limited the two are HK$1.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is State Energy Group International Assets Holdings Limited worth?
The market values State Energy Group International Assets Holdings Limited at about HK$1.7B (market capitalisation, as of Sep 24, 2026). Per share that is HK$1.55; our models calculate a fair value of HK$0.1900 per share.
What do the bullish and bearish scenarios say about 0918?
Our models span a range for State Energy Group International Assets Holdings Limited: cautious scenario HK$0.1400, base HK$0.1900, optimistic HK$0.2500 per share (as of Sep 24, 2026, price HK$1.55). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of State Energy Group International Assets Holdings Limited (0918)?
Balance-sheet figures for State Energy Group International Assets Holdings Limited (as of Sep 24, 2026): return on equity −2.1%, debt of 0.22 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 0918 from its 52-week high?
State Energy Group International Assets Holdings Limited trades at HK$1.55, about 14% below its 52-week high of HK$1.35 and 268% above the low of HK$0.4200 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.1900 is for.
Which stocks are comparable to State Energy Group International Assets Holdings Limited?
From the same area (Consumer Cyclical) we also value Ralph Lauren Corporation, Moncler S.p.A, Gildan Activewear Inc, LPP SA, 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 State Energy Group International Assets Holdings Limited stock attractive at the current price?
The data as of Sep 24, 2026: price HK$1.55, calculated fair value HK$0.1900 (−88%), Quality Score 58/100, from 10 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 0918 calculated?
We run State Energy Group International Assets Holdings Limited through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.1900, 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 14.1 % above its aggregate fair value. State Energy Group International Assets Holdings Limited itself currently trades above fair value. 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 State Energy Group International Assets Holdings Limited (0918)?
The closing price on Sep 22, 2026 was HK$1.55. Our model-based fair value is HK$0.1900, about −88% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with State Energy Group International Assets Holdings Limited right now?
The price sits above even our optimistic bull case (HK$0.2500). 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 (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of State Energy Group International Assets Holdings Limited
How large is the market capitalisation of State Energy Group International Assets Holdings Limited (0918)?
The market capitalisation of State Energy Group International Assets Holdings Limited is HK$1.7B (≈ $219M). 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 State Energy Group International Assets Holdings Limited (0918)?
The price-to-sales ratio of State Energy Group International Assets Holdings Limited is 13.0 (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 State Energy Group International Assets Holdings Limited (0918)?
Earnings per share at State Energy Group International Assets Holdings Limited are HK$0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of State Energy Group International Assets Holdings Limited (0918)?
The net margin of State Energy Group International Assets Holdings Limited is −5.3% (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 State Energy Group International Assets Holdings Limited (0918)?
The return on equity (ROE) of State Energy Group International Assets Holdings Limited is −2.1% (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 State Energy Group International Assets Holdings Limited (0918)?
On an EBIT basis the return on assets of State Energy Group International Assets Holdings Limited is −5.7% (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 State Energy Group International Assets Holdings Limited (0918)?
The operating margin of State Energy Group International Assets Holdings Limited is −44.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at State Energy Group International Assets Holdings Limited (0918)?
Revenue at State Energy Group International Assets Holdings Limited is growing −71.5% versus a year earlier (3y avg −21.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does State Energy Group International Assets Holdings Limited (0918) carry?
The net debt of State Energy Group International Assets Holdings Limited is HK$1.9M (fiscal year 2026, ≈ 0.1 yrs of FCF). 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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