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Matrix Holdings (1005) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$299M

MH Matrix Holdings 1005 · HK
PriceHK$0.4200
Fair ValueHK$0.1200
Upside-71.4%
Quality46/100
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Weak Growth
Loss-making · -33.9% net margin
Low debt · negative free cash flow
2.53% dividend yield
Trails peers (3/11)
Narrow moat 0/100
Evidence: Low Range HK$0.0800 – HK$0.1500 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 2 days ago

Share price +7.7% over the past month.

Below-average quality, and screening another 71% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.1500). 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 (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (HK$0.0800 to HK$0.1500) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$2.71 HK$0.3400 Fair Value HK$0.1200 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$0.3400 – HK$2.71 · fair‑value band HK$0.0800 – HK$0.1500 · the HK$0.4200 price screens above the HK$0.1200 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Matrix Holdings (1005) currently trades at HK$0.4200, while our model-based Fair Value estimate is HK$0.1200, implying the stock looks roughly 71.4% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Cyclical 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: low).

Over the trailing twelve months, Matrix Holdings generated revenue of HK$483M at a net margin of -33.9%. Revenue declined 6.6% year over year. It earns a return on equity of -41.7%. Net debt stands at HK$58.2M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0800 (bear case) to HK$0.1500 (bull case); at HK$0.4200, 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 32% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 11% fair-value upside, at -71%, 1005 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
NCAV (Graham) HK$0.2000 HK$0.2700 HK$0.4000 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.2000 HK$0.2700 HK$0.4000 50

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Key figures & financial health

Revenue (TTM) HK$483M
Revenue growth (YoY) -6.6%
Net margin -33.9%
Return on equity -41.7%
Free cash flow −HK$77.0M FY2025
Operating margin -46.9%
More key figures
EPS (TTM) HK$-0.0200
Dividend yield 2.5%
EPS growth (YoY) -99.5%
Net debt HK$58.2M FY2025

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

Quality Score breakdown

Overall quality 46/100

Of which business quality 45 · Market factors (momentum, volatility) 41

Profitability 18
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 26
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

Matrix Holdings Limited, an investment holding company, manufactures and trades in toys and lighting products and property development in Hong Kong. It offers plastic, die-cast, and plush toys.

Full company description

Matrix Holdings Limited, an investment holding company, manufactures and trades in toys and lighting products and property development in Hong Kong. It offers plastic, die-cast, and plush toys. The company also engages in the purchase and trading of toys; wholesale distribution and importation of toys, and sale of accessories connected with its products; property development; and provision of management services. It has operations in the People's Republic of China, Vietnam, the United States, Canada, Europe, Australia, South America, Mexico, and internationally. The company was incorporated in 1993 and is headquartered in Tsim Sha Tsui, Hong Kong. Matrix Holdings Limited operates as a subsidiary of Smart Forest Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Matrix Holdings reported revenue of HK$483M in FY2025 versus HK$1.1B in FY2021, a compound −18.3%/yr. Reported net income was −HK$164M in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$483M
Latest YoY
+5.8%
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.
−21.2%
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.
−11.7%
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.
+11.0%
Revenue −18.3%/yr
FY21 HK$1.1B
FY22 HK$986M
FY23 HK$714M
FY24 HK$457M
FY25 HK$483M
Net income
FY21 HK$55.1M
FY22 HK$6.2M
FY23 −HK$103M
FY24 −HK$299M
FY25 −HK$164M

1005 screens 71% overvalued. Compare with ANTA Sports Products Limited →

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Cite: Fair Value Calculator (2026). "Matrix Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1005

Peer Group

Leisure · 190 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 45 · Below median
Fair Value upside −71% · Bottom 25%
Return on assets -14% · Bottom 25%
Net margin (TTM) -34% · Bottom 25%
Operating margin (TTM) -47% · Bottom 25%
Revenue growth -7% · Below median
Dividend yield (TTM) 2.5% · Below median

Valuation Multiples vs Leisure median · lower = cheaper

P/B 0.13× · Cheaper than 75% of peers
P/S (TTM) 0.08× · 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 18
FUTURE 0 · sector 17
PAST 0 · sector 19
HEALTH 100 · sector 95
DIVIDEND 51 · sector 54

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.

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 Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$72.80 HK$119.82 +65%
Pop Mart International Group 9992 HK$151.00 HK$227.30 +51%
Amer Sports, Inc AS $33.03 $16.16 -51%
Hasbro, Inc HAS $94.89 $81.97 -14%
Life Time Group LTH $43.81 $15.61 -64%
Ninebot Limited 689009 ¥44.94 ¥39.73 -12%
Li Ning Company 2331 HK$14.59 HK$29.45 +102%
Asmodee Group ASMDEEB kr 158.70 kr 96.65 -39%
Smartfit Escola de Ginástica e Dança S.A SMFT3 R$17.25 R$22.90 +33%
Songcheng Performance Development Co 300144 ¥6.17 ¥6.85 +11%

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Frequently asked questions

Is Matrix Holdings (1005) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1200 versus a price of HK$0.4200, about −71% (overvalued).
What is the fair value of 1005?
Our model-based fair value for Matrix Holdings is HK$0.1200 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.4200.
What is the quality score of 1005?
Matrix Holdings has a Quality Score of 46/100. 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 Matrix Holdings (1005)?
Matrix Holdings reported trailing-twelve-month revenue of about HK$483M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1005?
The net profit margin of Matrix Holdings is about -33.9%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Matrix Holdings pay a dividend?
Matrix Holdings currently shows a dividend yield of about 2.53% 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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