Lenovo Group (0992) fair value: what the stock is really worth
We calculate from audited financials what Lenovo Group is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range HK$4.72 – HK$37.58 · fair‑value band HK$23.19 – HK$51.37 · the HK$35.74 price screens above the HK$33.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments.
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Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments. The company offers commercial and consumer personal computers, servers and workstations, and smartphones, as well as laptops, desktops, tablets, monitors, and accessories and software. It also provides consulting, deployment, managed, support, and security services. In addition, the company manufactures and distributes IT products, computers, computer hardware, and peripheral equipment; and offers IT, business planning, management, supply chain, finance and accounting, administration support, procurement agency, data management, intellectual property, and investment management services. Further, it is involved in the retail and service business for consumer electronic products and related digital services; development, ownership, licensing, and sale of communications hardware and software; and develops software and applications. It operates in China, the Asia Pacific, Europe, the Middle East, Africa, and the Americas. Lenovo Group Limited has a strategic alliance with Giralda Holding Conexion, S.L.U. to develop a joint end-to-end digital workplace offering that aims to challenge traditional IT outsourcing models. The company was founded in 1984 and is headquartered in Quarry Bay, Hong Kong.
Stock analysis
Lenovo Group (0992) currently trades at HK$35.74, while our model-based Fair Value estimate is HK$33.72, implying the stock looks roughly 6.0% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$5.68 per share, and 0 of the 26 models we run sit above the HK$35.74 price.
Bear case: the Multiples group reads lowest at HK$3.40, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: HK$23.19 (bear) to HK$51.37 (bull), the price of HK$35.74 sits inside 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 47/100 (below-average quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Lenovo Group reported revenue of $82.7B in FY2026 versus $71.6B in FY2022, a compound +3.7%/yr. Reported net income was $1.9B in FY2026, compounding −1.6%/yr from FY2022.
Key figures
Market cap HK$527B (≈ $67.1B) · P/E ratio 22.8 · P/S ratio 0.53 · EPS (TTM) HK$0.1600 · Dividend yield 0.2% · Net margin 2.3% · Return on equity 28.6% · Return on assets (EBIT) 5.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades near its 52-week high and 319% above its 52-week low.
For context, the median of 10 Technology peers we cover trades at −31% fair-value upside, at −6%, 0992 screens cheaper than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (HK$0.4100 to HK$8.25). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear HK$23.19Fair Value HK$33.72Bull HK$51.37
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$0.0505 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.72/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+19.8%
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.
+10.1%
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.
+6.4%
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.
+14.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+5.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.1%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5% vs 8%, steady
Profit margin 2021 to 2026 ⓘ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%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+56.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.2%
Yearly sales growth analysts expect, extended to five years.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
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.Computer Hardware · 225 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside+4% · Above median
Profitability
Return on equity (TTM)29% · Top 25%
Return on assets4% · Above median
Net margin (TTM)2% · Below median
Operating margin (TTM)6% · Above median
Growth and dividend
Revenue growth27% · Above median
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.51× · Highest 25%
Valuation Multiplesvs Computer Hardware median · lower = cheaper
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). "Lenovo Group Fair Value". https://www.fairvalue-calculator.com/stock/0992
Frequently asked questions
Is Lenovo Group (0992) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of HK$33.72 versus a price of HK$35.74, about −6% upside (fairly valued).
What is the fair value of 0992?
Our model-based fair value for Lenovo Group is HK$33.72 (as of Sep 18, 2026), built from audited fundamentals. The current price: HK$35.74.
What is the quality score of 0992?
Lenovo Group has a Quality Score of 47/100. 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 Lenovo Group (0992)?
Our model-based price target is the fair value of HK$33.72 (as of Sep 18, 2026) from 26 valuation models. Cautious scenario HK$23.19, optimistic scenario HK$51.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Lenovo Group stock forecast for 2026?
Our models put fair value at HK$33.72, about −6% upside versus a price of HK$35.74 (fairly valued). Cautious scenario HK$23.19, optimistic scenario HK$51.37. The calculation is refreshed regularly with new filings.
What is the revenue of Lenovo Group (0992)?
Lenovo Group reported trailing-twelve-month revenue of about HK$83.1B (latest available figure, as of Sep 18, 2026).
Does Lenovo Group pay a dividend?
Lenovo Group currently shows a dividend yield of about 0.15% relative to its recent price (as of Sep 18, 2026).
What growth is priced into Lenovo Group (0992)?
For today's price to be fair in a discounted-cash-flow model, Lenovo Group would have to grow free cash flow by +56.7 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.4 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of 0992 use?
Our models discount Lenovo Group at 10.1 %: a base by market capitalisation (large), damped by beta 1.13, 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 Lenovo Group that is +56.7 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Lenovo Group (0992) delivered so far?
Over the past 5 years revenue at Lenovo Group grew +6.4 % a year. The price currently implies +56.7 % 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 Lenovo Group (0992) growing?
The median revenue growth in the sector is +8.0 % a year. That is the yardstick for the growth priced into Lenovo Group (+56.7 % 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 Lenovo Group (0992)?
The free-cash-flow yield on the price is 0.52 %: that much free cash flow Lenovo Group produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lenovo Group (0992)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lenovo Group it is HK$33.72 per share (as of Sep 18, 2026), against a price of HK$35.74. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Lenovo Group stock overvalued or undervalued in 2026?
As of Sep 18, 2026, 0992 trades above its calculated fair value: price HK$35.74, fair value HK$33.72, a gap of about −6% (fairly valued). 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 0992?
No. The price is what the market pays today (HK$35.74); the fair value is what the company's own numbers justify (HK$33.72). For Lenovo Group the two are HK$2.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lenovo Group worth?
The market values Lenovo Group at about HK$527B (market capitalisation, as of Sep 18, 2026). Per share that is HK$35.74; our models calculate a fair value of HK$33.72 per share.
What do the bullish and bearish scenarios say about 0992?
Our models span a range for Lenovo Group: cautious scenario HK$23.19, base HK$33.72, optimistic HK$51.37 per share (as of Sep 18, 2026, price HK$35.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0992?
Lenovo Group trades at a price-to-earnings ratio of 22.8 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$33.72 is built from several models across several years. Other multiples: PEG 0.8, P/B 5.1, P/S 0.5, EV/EBITDA 8.2.
What is the PEG ratio of 0992?
The PEG ratio of Lenovo Group is 0.83 (P/E divided by earnings growth, as of Sep 18, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Lenovo Group (0992)?
Balance-sheet figures for Lenovo Group (as of Sep 18, 2026): return on equity 28.6%, debt of 0.51 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 0992 from its 52-week high?
Lenovo Group trades at HK$35.74, about 30% below its 52-week high of HK$27.42 and 319% above the low of HK$8.52 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of HK$33.72 is for.
Which stocks are comparable to Lenovo Group?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Western Digital Corporation, Hygon Information Technology Co, 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 Lenovo Group stock attractive at the current price?
The data as of Sep 18, 2026: price HK$35.74, calculated fair value HK$33.72 (−6%), Quality Score 47/100, from 26 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 0992 calculated?
We run Lenovo Group through 26 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$33.72, 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 16.1 % above its aggregate fair value. Lenovo Group 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 Lenovo Group (0992)?
The closing price on Sep 21, 2026 was HK$35.74. Our model-based fair value is HK$33.72, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lenovo Group right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (HK$23.19 to HK$51.37) leaves room in how you read the outcome.
Where does the earnings growth of Lenovo Group (0992) come from?
Earnings per share at Lenovo Group grew +5.8 % a year from 2015 to 2026. Broken into its drivers: revenue per share +2.3 %, EBIT margin +6.5 %, tax rate −1.1 %, residual (interest, one-offs) −1.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Lenovo Group
How large is the market capitalisation of Lenovo Group (0992)?
The market capitalisation of Lenovo Group is HK$527B (≈ $67.1B). 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 Lenovo Group (0992)?
The price-to-sales ratio of Lenovo Group is 0.53 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lenovo Group (0992)?
Earnings per share at Lenovo Group are HK$0.1600 (price ÷ EPS = P/E 22.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lenovo Group (0992)?
The dividend yield of Lenovo Group is 0.2% (payout 33.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Lenovo Group (0992)?
The net margin of Lenovo Group is 2.3% (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 Lenovo Group (0992)?
The return on equity (ROE) of Lenovo Group is 28.6% (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 Lenovo Group (0992)?
On an EBIT basis the return on assets of Lenovo Group is 5.9% (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 Lenovo Group (0992)?
The operating margin of Lenovo Group is 4.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lenovo Group (0992)?
Revenue at Lenovo Group is growing +27.1% versus a year earlier (3y avg +10.1%). 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 Lenovo Group (0992)?
Earnings per share at Lenovo Group are growing +421% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lenovo Group (0992) carry?
The net debt of Lenovo Group is HK$269M (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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