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Courage Investment Group (1145) Fair Value & Analysis

Industrials · HK · Market cap HK$116M

CI Courage Investment Group 1145 · HK
PriceHK$0.1480
Fair ValueHK$0.0800
Upside-46.0%
Quality42/100
Expensive Growth
Loss-making · -1.9% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/11)
Narrow moat 24/100
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Evidence: Medium Range HK$0.0800 – HK$0.0800 Share as image

Fair value as of: Aug 5, 2026

From 8 valuation models · updated today

Fair value updated Aug 5, 2026, revised from HK$0.0100 to HK$0.0800 (+700.0%) since Jul 2, 2026. Share price +29.8% over the past month.

Below-average quality, and screening another 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.0800). The favourable scenario is already priced in.
  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

HK$0.5400 HK$0.0540 Fair Value HK$0.0800 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

60‑month range HK$0.0540 – HK$0.5400 · the HK$0.1480 price screens above the HK$0.0800 fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Courage Investment Group (1145) currently trades at HK$0.1480, while our model-based Fair Value estimate is HK$0.0800, implying the stock looks roughly 46.0% overvalued today. We read business quality at 42/100 (below-average quality), in the Industrials 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: medium).

Over the trailing twelve months, Courage Investment Group generated revenue of HK$18.6M at a net margin of -1.9%. Revenue grew 245.8% year over year. It earns a return on equity of -0.6%. The balance sheet holds a net cash position of HK$5.8M. Fundamentals as of Aug 5, 2026

The share trades about 25% below its 52-week high and 42% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 69% fair-value upside, at -46%, 1145 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 BearBaseBull Evidence
Highest evidence
ROIC Compounder HK$0.0800 HK$0.0800 HK$0.0800 72
Gordon GGM HK$0.4000 HK$0.6400 HK$0.8000 70
DDM Multi-Stage HK$0.4000 HK$0.6400 HK$0.7200 61
All 8 models by family
Earnings-Based
EPV HK$0.0800 HK$0.0800 HK$0.0800 59
Dividend Discount
Gordon GGM HK$0.4000 HK$0.6400 HK$0.8000 70
DDM Multi-Stage HK$0.4000 HK$0.6400 HK$0.7200 61
Multiples
EV/EBIT HK$0.0800 HK$0.0800 HK$0.0800 53
EV/EBITDA HK$0.3200 HK$0.4000 HK$0.4800 54
EV/Revenue HK$0.0800 HK$0.0800 HK$0.0800 43
Asset-Based
NCAV (Graham) HK$0.2400 HK$0.3200 HK$0.4000 50
Economic Profit
ROIC Compounder HK$0.0800 HK$0.0800 HK$0.0800 72

Widest divergence: Dividend Discount (HK$0.6400) versus Earnings-Based (HK$0.0800). Highest evidence: ROIC Compounder (72).

Key figures & financial health

Revenue (TTM) HK$18.6M
Revenue growth (YoY) +246%
Net margin -1.9%
Return on equity -0.6%
Free cash flow −HK$7.0M FY2025
Operating margin 15.8%
More key figures
EPS growth (YoY) +217%
Net cash HK$5.8M FY2025

Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 45 · Market factors (momentum, volatility) 37

Profitability 12
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 32
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

Courage Investment Group Limited, an investment holding company, provides marine transportation services in Hong Kong and rest of Asia. It operates through Marine Transportation and Investment Holding segments. The company offers vessel chartering and management services.

Full company description

Courage Investment Group Limited, an investment holding company, provides marine transportation services in Hong Kong and rest of Asia. It operates through Marine Transportation and Investment Holding segments. The company offers vessel chartering and management services. The company was formerly known as Courage Marine Group Limited and changed its name to Courage Investment Group Limited in September 2017. Courage Investment Group Limited was founded in 2001 and is headquartered in Wan Chai, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Courage Investment Group reported revenue of HK$18.6M in FY2025 versus HK$9.7M in FY2021, a compound +17.6%/yr. Reported net income was −HK$358K in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$18.6M
Latest YoY
+102.9%
Avg. growth/yr (3Y)
+14.6%
Avg. growth/yr (5Y)
+18.7%
Avg. growth/yr (21Y)
−4.3%
Revenue +17.6%/yr
FY21 HK$9.7M
FY22 HK$12.4M
FY23 HK$8.5M
FY24 HK$9.2M
FY25 HK$18.6M
Net income
FY21 HK$10.5M
FY22 HK$1.1M
FY23 −HK$4.0M
FY24 HK$1.7M
FY25 −HK$358K

1145 screens 46% overvalued. Compare with Adani Ports and Special Economic Zone Limited →

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Cite: Fair Value Calculator (2026). "Courage Investment Group Fair Value". https://www.fairvalue-calculator.com/stock/1145

Peer Group

Marine Shipping · 231 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 41 · Bottom 25%
Fair Value upside −45% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) 16% · Above median
Revenue growth 246% · Top 25%

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/B 0.25× · Cheaper than 75% of peers
P/S (TTM) 0.80× · Cheaper than median
EV/EBITDA 2.7× · 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 22
FUTURE 100 · sector 18
PAST 0 · sector 27
HEALTH 100 · sector 88
DIVIDEND 0 · sector 39

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.30 ¥5.58 +69%
Qingdao Port International Co 601298 ¥8.07 ¥16.97 +110%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%

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Frequently asked questions

Is Courage Investment Group (1145) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of HK$0.0800 versus a price of HK$0.1480, about −46% (overvalued).
What is the fair value of 1145?
Our model-based fair value for Courage Investment Group is HK$0.0800 (as of Aug 5, 2026), built from audited fundamentals. The current price is HK$0.1480.
What is the quality score of 1145?
Courage Investment Group has a Quality Score of 42/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Courage Investment Group (1145)?
Courage Investment Group reported trailing-twelve-month revenue of about HK$18.6M (latest available figure, as of Aug 5, 2026).
What is the net profit margin of 1145?
The net profit margin of Courage Investment Group is about -1.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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