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Sinopec Kantons Holdings (0934) Fair Value & Analysis

Energy · HK · Market cap HK$8.7B

SK Sinopec Kantons Holdings 0934 · HK
PriceHK$3.72
Fair ValueHK$1.05
Upside-71.7%
Quality64/100
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Weak Growth
Highly profitable · 156.1% net margin
Low debt · generates free cash flow
6.89% dividend yield
Ranks above peers (9/15)
Evidence: High Range HK$0.8600 – HK$1.40 Share as image

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 2 days ago

Share price +0.7% over the past month.

A solid business, but screening 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$1.40). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

HK$4.45 HK$1.68 Fair Value HK$1.05 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$1.68 – HK$4.45 · fair‑value band HK$0.8600 – HK$1.40 · the HK$3.72 price screens above the HK$1.05 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Sinopec Kantons Holdings (0934) currently trades at HK$3.72, while our model-based Fair Value estimate is HK$1.05, implying the stock looks roughly 71.7% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Trailing-twelve-month revenue stands at HK$659M. Revenue grew 4.6% year over year. It earns a return on equity of 6.3%. The balance sheet holds a net cash position of HK$389M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.8600 (bear case) to HK$1.40 (bull case); at HK$3.72, 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 about 16% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -39% fair-value upside, at -72%, 0934 screens richer 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$0.9600 HK$1.23 HK$1.67 80
Residual Income HK$5.19 HK$5.34 HK$5.38 76
Rev-Margin DCF HK$0.5900 HK$0.7200 HK$0.8900 74
All 22 models by family
DCF Models
FCF DCF HK$0.9300 HK$1.21 HK$1.70 38
Owner Earnings HK$4.36 HK$5.89 HK$8.64 31
5Y Revenue Exit HK$0.5900 HK$0.7100 HK$0.8600 39
5Y EBITDA Exit HK$0.7900 HK$1.04 HK$1.37 41
5Y P/E Exit HK$2.71 HK$4.36 HK$6.32 38
10Y Revenue Exit HK$0.7200 HK$0.8100 HK$0.9000 36
10Y EBITDA Exit HK$0.8400 HK$1.01 HK$1.19 37
10Y P/E Exit HK$1.98 HK$3.02 HK$4.04 35
Earnings-Based
Graham-Dodd HK$2.81 HK$3.44 HK$3.87 54
EPV HK$0.5200 HK$0.5800 HK$0.6300 59
Multiples
P/E Multiple HK$4.34 HK$5.79 HK$7.24 63
P/S Multiple HK$0.2400 HK$0.3200 HK$0.4000 58
P/B Multiple HK$5.27 HK$7.03 HK$8.79 55
EV/EBIT HK$0.7600 HK$0.9500 HK$1.15 53
EV/EBITDA HK$0.7800 HK$0.9900 HK$1.19 54
EV/Revenue HK$0.3900 HK$0.4900 HK$0.5800 43
Asset-Based
NCAV (Graham) HK$3.32 HK$4.45 HK$6.64 50
Growth DCF
Growth DCF HK$0.9600 HK$1.23 HK$1.67 80
Rev-Margin DCF HK$0.5900 HK$0.7200 HK$0.8900 74
Economic Profit
Residual Income HK$5.19 HK$5.34 HK$5.38 76
ROIC Compounder HK$0.5200 HK$0.5800 HK$0.6300 72
Growth Earnings
Growth-Adj P/E HK$3.12 HK$4.46 HK$5.80 68

Widest divergence: Growth Earnings (HK$4.46) versus Earnings-Based (HK$0.5800). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$659M
Revenue growth (YoY) +4.6%
Net margin 156%
Return on equity 6.3%
Free cash flow HK$204M FY2025
P/E ratio 8.6 as of Jul 2, 2026
More key figures
Operating margin 22.8%
EPS (TTM) HK$0.2300
Dividend yield 6.9%
EPS growth (YoY) -5.5%
Net cash HK$389M FY2025

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 63 · Market factors (momentum, volatility) 47

Profitability 37
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 22
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

Sinopec Kantons Holdings Limited, an investment holding company, provides crude oil jetty services. It operates in two segments: Crude Oil Jetty and Storage Services, and Vessel Chartering and Logistics Services.

Full company description

Sinopec Kantons Holdings Limited, an investment holding company, provides crude oil jetty services. It operates in two segments: Crude Oil Jetty and Storage Services, and Vessel Chartering and Logistics Services. The company offers crude oil transportation, unloading, storage, and other jetty services for oil tankers in the People's Republic of China, Europe, and the Middle East; and vessel chartering services for liquefied natural gas transportation in the People's Republic of China, Australia, and the Papua New Guinea. It also engages in the trading of crude oil; and provision of oil supporting and ancillary services. The company was incorporated in 1998 and is based in Causeway Bay, Hong Kong. Sinopec Kantons Holdings Limited operates as a subsidiary of Sinopec Kantons International Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sinopec Kantons Holdings reported revenue of HK$659M in FY2025 versus HK$637M in FY2021, a compound +0.9%/yr. Reported net income was HK$1.0B in FY2025, compounding −0.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$659M
Latest YoY
−1.3%
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.
+2.3%
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.
+1.8%
Avg. growth/yr (26Y) ⓘ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.
−7.0%
Revenue +0.9%/yr
FY21 HK$637M
FY22 HK$616M
FY23 HK$610M
FY24 HK$667M
FY25 HK$659M
Net income −0.5%/yr
FY21 HK$1.1B
FY22 HK$435M
FY23 HK$1.3B
FY24 HK$1.2B
FY25 HK$1.0B
Character of growth · EPS growth decomposed (2014-2025) +1.6 % p.a.
Revenue per share −24.6 pp

of which total revenue −24.6 pp · buybacks/dilution +0.0 pp

EBIT margin +13.7 pp
Tax rate +0.8 pp
Residual (interest, one-offs) +11.6 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).

0934 screens 72% overvalued. Compare with Enbridge Inc →

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Sinopec Kantons Holdings · Fair Value
HK$1.05 −72%Fair Value
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Cite: Fair Value Calculator (2026). "Sinopec Kantons Holdings Fair Value". https://www.fairvalue-calculator.com/stock/0934

Peer Group

Oil & Gas Midstream · 89 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 64 · Top 25%
Fair Value upside −72% · Bottom 25%
Return on equity (TTM) 6% · Below median
Return on assets 1% · Bottom 25%
Net margin (TTM) 156% · Top 25%
Operating margin (TTM) 23% · Above median
Revenue growth 5% · Below median
Dividend yield (TTM) 6.9% · Top 25%

Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper

P/E (TTM) 8.6× · Cheaper than 75% of peers
P/B 0.53× · Cheaper than 75% of peers
P/S (TTM) 13.25× · Pricier than 75% of peers
P/FCF 5.5× · Cheaper than median
EV/EBITDA 24.7× · Pricier than 75% of peers
PEG 0.52× · 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 0 · sector 0
FUTURE 23 · sector 44
PAST 25 · sector 42
HEALTH 100 · sector 56
DIVIDEND 100 · sector 97

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.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $51.44 $35.83 -30%
The Williams Companies, Inc WMB $73.70 $11.73 -84%
Enterprise Products Partners L.P. EPD $37.92 $24.74 -35%
TC Energy Corporation TRP C$88.72 C$24.53 -72%
Kinder Morgan, Inc KMI $31.73 $10.92 -66%
Energy Transfer LP, ET $20.95 $11.45 -45%
MPLX LP owns and MPLX $59.94 $36.42 -39%
ONEOK, Inc OKE $92.47 $58.62 -37%
Targa Resources Corp TRGP $268.67 $79.61 -70%
Cheniere Energy, Inc LNG $268.11 $199.99 -25%

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Frequently asked questions

Is Sinopec Kantons Holdings (0934) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.05 versus a price of HK$3.72, about −72% (overvalued).
What is the fair value of 0934?
Our model-based fair value for Sinopec Kantons Holdings is HK$1.05 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$3.72.
What is the quality score of 0934?
Sinopec Kantons Holdings has a Quality Score of 64/100. 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 Sinopec Kantons Holdings (0934)?
Sinopec Kantons Holdings reported trailing-twelve-month revenue of about HK$659M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0934?
The net profit margin of Sinopec Kantons Holdings is about 156.1%, meaning it keeps roughly 156.1% of revenue as net income. Based on the latest reported figures.
Does Sinopec Kantons Holdings pay a dividend?
Sinopec Kantons Holdings currently shows a dividend yield of about 6.89% 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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