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Health and Happiness (H&H) International Holdings (1112) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$6.8B

HA Health and Happiness (H&H) International Holdings 1112 · HK
PriceHK$15.74
Fair ValueHK$27.34
Upside+73.7%
Quality62/100
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Healthy Growth
Thin margins · 1.4% net margin
Moderate debt · generates free cash flow
3.09% dividend yield
Ranks above peers (10/14)
Narrow moat 34/100
Evidence: High Range HK$12.49 – HK$39.01 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$7.41 to HK$27.34 (+269.0%) since Aug 5, 2026. Share price +7.7% over the past month.

A solid business, screening 74% undervalued on our models.

What matters now

  • The model range is unusually wide (HK$12.49 to HK$39.01). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$26.08 HK$5.75 Fair Value HK$27.34 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$5.75 – HK$26.08 · fair‑value band HK$12.49 – HK$39.01 · the HK$15.74 price screens below the HK$27.34 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Health and Happiness (H&H) International Holdings (1112) currently trades at HK$15.74, while our model-based Fair Value estimate is HK$27.34, implying the stock looks roughly 73.7% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Health and Happiness (H&H) International Holdings generated revenue of HK$14.4B at a net margin of 1.4%. Revenue grew 15.3% year over year. It earns a return on equity of 3.3%. Net debt stands at HK$7.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$12.49 (bear case) to HK$39.01 (bull case); at HK$15.74, the current price sits within 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 5% below its 52-week high and 56% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -14% fair-value upside, at 74%, 1112 screens cheaper 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$8.76 HK$22.53 HK$45.25 80
Residual Income HK$6.67 HK$6.46 HK$5.44 76
Rev-Margin DCF HK$12.21 HK$30.16 HK$53.98 74
All 24 models by family
DCF Models
FCF DCF HK$9.06 HK$24.63 HK$51.58 38
Owner Earnings HK$6.79 HK$19.65 31
5Y Revenue Exit HK$12.21 HK$30.86 HK$56.82 39
5Y EBITDA Exit HK$15.20 HK$37.18 HK$65.44 41
5Y P/E Exit HK$4.13 HK$9.17 38
10Y Revenue Exit HK$10.16 HK$27.43 HK$55.15 36
10Y EBITDA Exit HK$12.91 HK$32.02 HK$62.38 37
10Y P/E Exit HK$2.66 HK$8.01 HK$15.21 35
Earnings-Based
Graham-Dodd HK$2.07 HK$10.42 HK$14.39 54
Lynch FV HK$2.83 HK$4.04 HK$5.25 50
PEG = 1.0 HK$2.83 HK$4.04 HK$5.25 46
EPV HK$8.85 HK$11.75 HK$14.25 59
Multiples
P/E Multiple HK$4.79 HK$6.38 HK$7.98 63
P/S Multiple HK$3.87 HK$5.17 HK$6.46 58
P/B Multiple HK$3.87 HK$5.17 HK$6.46 55
EV/EBIT HK$23.49 HK$34.48 HK$45.47 53
EV/EBITDA HK$20.30 HK$30.24 HK$40.17 54
EV/Revenue HK$13.85 HK$23.86 HK$33.86 43
Asset-Based
NCAV (Graham) HK$4.64 HK$6.22 HK$9.28 50
Growth DCF
Growth DCF HK$8.76 HK$22.53 HK$45.25 80
Rev-Margin DCF HK$12.21 HK$30.16 HK$53.98 74
Economic Profit
Residual Income HK$6.67 HK$6.46 HK$5.44 76
ROIC Compounder HK$8.85 HK$14.65 HK$21.16 72
Growth Earnings
Growth-Adj P/E HK$4.30 HK$6.14 HK$7.98 68

Widest divergence: DCF Models (HK$24.63) versus Earnings-Based (HK$4.04). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$14.4B
Revenue growth (YoY) +15.3%
Net margin 1.4%
Return on equity 3.3%
Free cash flow HK$947M FY2025
P/E ratio 29.1 as of Jul 2, 2026
More key figures
Operating margin 8.8%
EPS (TTM) HK$0.1100
Dividend yield 3.1%
EPS growth (YoY) -76.9%
Net debt HK$7.4B FY2025

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 59 · Market factors (momentum, volatility) 59

Profitability 40
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 80
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

Health and Happiness (H&H) International Holdings Limited, an investment holding company, manufactures and sells pediatric nutrition, baby care, adult nutrition and care, and pet nutrition and care products in Mainland China, Australia, New Zealand, North America, and internationally.

Full company description

Health and Happiness (H&H) International Holdings Limited, an investment holding company, manufactures and sells pediatric nutrition, baby care, adult nutrition and care, and pet nutrition and care products in Mainland China, Australia, New Zealand, North America, and internationally. The company offers milk formulas for infants, children, and expectant and nursing mothers; probiotic and nutrition supplements in the form of sachets, capsules, gummies, and tablets for infants, children, and expectant mothers; and vitamins, herbal and mineral supplements, and skin care and sports nutrition products for adults; dried baby food and baby care products; and complete pet food products and multicondition pet supplements. In addition, it is involved in the research, development, manufacture, sale, and processing of meat, fruit, vegetable powder, candy, special nutritional food, and nutritional products; marketing and distribution of organic baby food; wholesale, retail, import, and export of nutritional food and personal care products for infants; and provision of packaging services. Further, the company engages in the trading and sale of vitamins, health supplements, and skin care and sports nutrition products for adults; and pet food, and nutritional supplements for pets, as well as the online sale and provision of software and information technology. It provides its products under the Healthy Times, Farmland, Swisse, Aurelia, Zesty Paws, Solid Gold, Dodie, and Good Goût brand names. The company was formerly known as Biostime International Holdings Limited and changed its name to Health and Happiness (H&H) International Holdings Limited in June 2017. The company was founded in 1999 and is headquartered in Quarry Bay, Hong Kong. Health and Happiness (H&H) International Holdings Limited is a subsidiary of Coliving Holdings Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Health and Happiness (H&H) International Holdings reported revenue of HK$14.4B in FY2025 versus HK$11.5B in FY2021, a compound +5.6%/yr. Reported net income was HK$196M in FY2025, compounding −21.2%/yr from FY2021.

Growth Quality 64/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$14.4B
Latest YoY
+10.0%
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.
+4.0%
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.
+5.1%
Avg. growth/yr (18Y) 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.
+27.2%
Revenue +5.6%/yr
FY21 HK$11.5B
FY22 HK$12.8B
FY23 HK$13.9B
FY24 HK$13.1B
FY25 HK$14.4B
Net income −21.2%/yr
FY21 HK$508M
FY22 HK$612M
FY23 HK$582M
FY24 −HK$53.7M
FY25 HK$196M
Character of growth · EPS growth decomposed (2014-2025) −6.2 % p.a.
Revenue per share +11.0 pp

of which total revenue +11.4 pp · buybacks/dilution −0.4 pp

EBIT margin −6.3 pp
Tax rate −3.0 pp
Residual (interest, one-offs) −7.9 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).

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Cite: Fair Value Calculator (2026). "Health and Happiness (H&H) International Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1112

Peer Group

Packaged Foods · 649 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 62 · Top 25%
Fair Value upside +74% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 5% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth 15% · Top 25%
Dividend yield (TTM) 3.1% · Above median
Debt / equity 1.30× · Higher than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 29.1× · Pricier than 75% of peers
P/B 1.13× · Cheaper than median
P/S (TTM) 0.47× · Cheaper than median
P/FCF 0.9× · Cheaper than median
EV/EBITDA 7.3× · Cheaper than median

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 100 · sector 23
FUTURE 77 · sector 19
PAST 13 · sector 28
HEALTH 35 · sector 96
DIVIDEND 62 · sector 57

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,507 ₹362.37 -76%
Britannia Industries Limited BRITANNIA ₹5,646 ₹1,870 -67%
Tata Consumer Products Limited TATACONSUM ₹1,062 ₹327.27 -69%
PT Indofood CBP Sukses Makmur Tbk ICBP 7,550 IDR 12,864 IDR +70%
Samyang Foods Co 003230 1,219,000 KRW 1,010,543 KRW -17%
Patanjali Foods Limited PATANJALI ₹352.60 ₹144.77 -59%
Vietnam Dairy Products Joint Stock Company VNM 61,600 VND 52,858 VND -14%
PT Mayora Indah Tbk, MYOR 1,665 IDR 2,699 IDR +62%
PT Cisarua Mountain Dairy Tbk CMRY 4,630 IDR 4,350 IDR -6%
Nongshim Co 004370 389,500 KRW 530,619 KRW +36%

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Frequently asked questions

Is Health and Happiness (H&H) International Holdings (1112) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$27.34 versus a price of HK$15.74, about +74% (undervalued).
What is the fair value of 1112?
Our model-based fair value for Health and Happiness (H&H) International Holdings is HK$27.34 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$15.74.
What is the quality score of 1112?
Health and Happiness (H&H) International Holdings has a Quality Score of 62/100. 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 Health and Happiness (H&H) International Holdings (1112)?
Health and Happiness (H&H) International Holdings reported trailing-twelve-month revenue of about HK$14.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1112?
The net profit margin of Health and Happiness (H&H) International Holdings is about 1.4%, meaning it keeps roughly 1.4% of revenue as net income. Based on the latest reported figures.
Does Health and Happiness (H&H) International Holdings pay a dividend?
Health and Happiness (H&H) International Holdings currently shows a dividend yield of about 3.09% 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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