0945 (0945) Fair Value & Analysis

Financial Services · Market cap HK$529B

0 0945 0945 · HK

PriceHK$317.40

Fair ValueHK$248.94

Upside-21.6%

Quality69/100

Evidence: High Range HK$186.70 – HK$311.17

Fair value as of: Jul 2, 2026

From 23 valuation models · updated today

Share price +6.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$227.56 – HK$322.00 · fair‑value band HK$186.70 – HK$311.17 · the HK$317.40 price screens above the HK$248.94 fair value. As of Jul 2, 2026.

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Analysis

0945 (0945) currently trades at HK$317.40, while our model-based Fair Value estimate is HK$248.94 — implying the stock looks roughly 21.6% overvalued today. We read business quality at 69/100 (solid quality), in the Financial Services 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).

Over the trailing twelve months, 0945 generated revenue of HK$32.0B at a net margin of 20.0%. Revenue grew 12.1% year over year. It earns a return on equity of 12.6%. The balance sheet holds a net cash position of HK$12.0B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$32.0B

Revenue growth (YoY) +12.1%

Net margin 20.0%

Return on equity 12.6%

Free cash flow HK$32.1B FY2025

P/E ratio 16.6

More key figures

Operating margin 19.1%

EPS (TTM) HK$19.53

Dividend yield 0.6%

EPS growth (YoY) +162%

Net cash HK$12.0B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

0945 reported revenue of HK$53.0B in FY2025 versus HK$59.8B in FY2021, a compound −3.0%/yr. Reported net income was HK$5.8B in FY2025, compounding −3.5%/yr from FY2021.

Revenue −3.0%/yr

FY21 HK$59.8B

FY22 HK$23.6B

FY23 HK$42.3B

FY24 HK$45.6B

FY25 HK$53.0B

Net income −3.5%/yr

FY21 HK$6.7B

FY22 −HK$2.1B

FY23 HK$5.5B

FY24 HK$5.6B

FY25 HK$5.8B

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Similar stocks

6 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Ping An Insurance (Group) Company 601318	¥53.48	¥106.96	+100%
China Life Insurance Company 601628	¥36.44	¥72.88	+100%
AIA Group AAGIY	$37.78	$30.44	-19%
Manulife Financial Corporation MFC	$40.19	$33.76	-16%
China Pacific Insurance (Group) Co CHPXF	$3.65	$5.85	+60%
Aflac Incorporated AFL	$116.55	$78.53	-33%

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Frequently asked questions

Is 0945 (0945) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$248.94 versus a price of HK$317.40 — about −22% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 0945?

Our model-based fair value for 0945 is HK$248.94 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$317.40.

What is the quality score of 0945?

0945 has a Quality Score of 69/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 0945 (0945)?

0945 reported trailing-twelve-month revenue of about HK$32.0B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 0945?

The net profit margin of 0945 is about 20.0%, meaning it keeps roughly 20.0% of revenue as net income. Based on the latest reported figures.

Does 0945 pay a dividend?

0945 currently shows a dividend yield of about 0.57% relative to its recent price (as of Jul 2, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.