MECOM Power and Construction (1183) Fair Value & Analysis

Basic Materials · HK · Market cap HK$529M (≈ $67.5M) · ISIN KYG5960P1046

What is MECOM Power and Construction really worth?

MP MECOM Power and Construction 1183 · HK

PriceHK$0.1290

Fair ValueHK$0.1400

Upside+8.5%

Quality62/100

A solid business, currently priced close to our fair value of HK$0.1400.

As of Aug 29, 2026, the fair value of MECOM Power and Construction is HK$0.1400 per share against a price of HK$0.1290, so the fair value sits 9% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +21.2 %/yr)

!Thin margins · 0.8% net margin

!Mixed vs. peers (6/11)

!Narrow moat 22/100

!Evidence only low, so the estimate is less certain

!Weak on past: 17 out of 100

Evidence: Low Range HK$0.1400 – HK$0.2000

Fair value as of: Aug 29, 2026

From 24 valuation models · updated 8 days ago

Fair value updated Aug 29, 2026, revised from HK$0.0700 to HK$0.1400 (+100.0%) since Aug 27, 2026. Share price −2.3% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

The price is below even our cautious bear case (HK$0.1400). The market is more pessimistic than our downside scenario.
The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range HK$0.1030 – HK$1.86 · fair‑value band HK$0.1400 – HK$0.2000 · the HK$0.1290 price screens below the HK$0.1400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

Full chart & analysis →

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Analysis

MECOM Power and Construction (1183) currently trades at HK$0.1290, while our model-based Fair Value estimate is HK$0.1400, implying the stock looks roughly 7.9% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of HK$0.2800 per share, and 12 of the 24 models we run sit above the HK$0.1290 price. Bear case: the Economic Profit group reads lowest at HK$0.0500, and 12 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, MECOM Power and Construction generated revenue of HK$1.6B at a net margin of 0.8%. Revenue grew 37.7% year over year. It earns a return on equity of 4.2%. Net debt stands at HK$132M. Fundamentals as of Aug 29, 2026

Our scenario range runs from HK$0.1400 (bear case) to HK$0.2000 (bull case); at HK$0.1290, the current price sits below 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 46% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −23% fair-value upside, at 9%, 1183 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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

FCF DCF HK$0.2900 HK$0.4500 HK$0.8600 77

Growth DCF HK$0.2700 HK$0.4800 HK$0.8200 76

Residual Income HK$0.0700 HK$0.0700 HK$0.0500 76

All 24 models by family

DCF Models

FCF DCF HK$0.2900 HK$0.4500 HK$0.8600 77

Owner Earnings HK$0.1100 HK$0.2000 HK$0.3700 73

5Y Revenue Exit HK$0.1400 HK$0.2100 HK$0.3200 72

5Y EBITDA Exit HK$0.1800 HK$0.3000 HK$0.4900 73

5Y P/E Exit HK$0.1400 HK$0.2200 HK$0.3000 71

10Y Revenue Exit HK$0.1900 HK$0.2800 HK$0.3900 67

10Y EBITDA Exit HK$0.2200 HK$0.3500 HK$0.5800 67

10Y P/E Exit HK$0.1900 HK$0.2800 HK$0.4200 63

Earnings-Based

Graham-Dodd HK$0.0300 HK$0.1700 HK$0.2400 63

Lynch FV HK$0.0500 HK$0.0700 HK$0.0900 61

PEG = 1.0 HK$0.0500 HK$0.0700 HK$0.0900 57

EPV HK$0.0400 HK$0.0500 HK$0.0500 74

Multiples

P/E Multiple HK$0.0600 HK$0.0800 HK$0.1000 63

P/S Multiple HK$0.0500 HK$0.0600 HK$0.0800 58

P/B Multiple HK$0.0500 HK$0.0600 HK$0.0800 55

EV/EBIT HK$0.0900 HK$0.1200 HK$0.1400 66

EV/EBITDA HK$0.1400 HK$0.1800 HK$0.2200 67

EV/Revenue HK$0.0700 HK$0.0900 HK$0.1100 54

Asset-Based

NCAV (Graham) HK$0.0500 HK$0.0700 HK$0.1000 54

Growth DCF

Growth DCF HK$0.2700 HK$0.4800 HK$0.8200 76

Rev-Margin DCF HK$0.1400 HK$0.2200 HK$0.3300 72

Economic Profit

Residual Income HK$0.0700 HK$0.0700 HK$0.0500 76

ROIC Compounder HK$0.0400 HK$0.0500 HK$0.0500 72

Growth Earnings

Growth-Adj P/E HK$0.0700 HK$0.1000 HK$0.1300 67

Widest divergence: DCF Models (HK$0.2800) versus Economic Profit (HK$0.0500). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/S ratio 0.35 TTM

Net margin 0.8% FY2025

Return on equity 4.2% TTM

Return on assets (EBIT) 6.8% avg 5y

Revenue (TTM) HK$1.6B TTM

Revenue growth (YoY) +37.7% 3y avg +11.3%

More key figures

Growth

EPS growth (YoY) +134%

Balance sheet & cash flow

Free cash flow HK$87.4M FY2025

Net debt HK$132M FY2025 · ≈ 1.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 31

Profitability 38

Margins and returns on capital today

Quality Growth 80

Are margins and returns improving?

Cashflow 63

Earnings quality: real cash, not paper profit

Fin. Strength 45

Balance sheet, leverage, solvency risk

Investment 86

Disciplined investing over empire-building

Low Volatility 77

Calm price path (market factor)

Momentum 15

Price trend over the last 3–12 months (market factor)

52W Momentum 7

Distance to the 52-week high (market factor)

Net Issuance 83

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

MECOM Power and Construction Limited offers construction services in Macau, Hong Kong, Cyprus, and the People's Republic of China.

Full company description

MECOM Power and Construction Limited offers construction services in Macau, Hong Kong, Cyprus, and the People's Republic of China. It provides steel structure erection services, including structural steel works, concreting and builder works, and integration of constructional methods; civil engineering construction services, such as cover demolition, ground field investigation, site formation, and foundation works, as well as substructures and superstructures, roads, and drainage works; and fitting out and improvement works, comprising alteration, renovation and upgrading works, shop drawings, modification, removal and installation of equipment, and general improvement works. The company also offers high voltage power substation construction and system installation works, including planning, project management, scheduling, and construction services. In addition, it provides electrical and mechanical (E&M) engineering services, which includes the supply and/or installation of low voltage systems works, such as supply and installation of cables, earthing, lighting systems, power cables, electrical wiring, switchboards, power outlets, and others; heating, ventilation, and air-conditioning systems works; and extra low voltage systems works, and related testing and commissioning, as well as management and monitoring of quality and delivery of E&M engineering service works. Further, the company offers facilities operation and maintenance management, alteration, upgrading, maintenance works, and emergency repair of various buildings and properties, as well as high voltage power substations and related systems. Additionally, it designs, produces, sells, and markets EV charging systems; produces battery packs; and provides EV charging facilities. MECOM Power and Construction Limited was founded in 2000 and is headquartered in Macau. MECOM Power and Construction Limited is a subsidiary of MECOM Holding Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MECOM Power and Construction reported revenue of 1.9B MOP in FY2025 versus 912M MOP in FY2021, a compound +19.4%/yr. Reported net income was 14.9M MOP in FY2025, compounding −41.4%/yr from FY2021.

Growth Quality 85/100

Revenue is growing, but margins or cash flow do not fully confirm the trend.

Latest Revenue (FY 2025)

HK$1.9B

Latest YoY

+22.8%

Avg. revenue 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.

+11.3%

Avg. revenue 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.

+21.2%

Avg. revenue growth/yr (11Y) ⓘ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.

+13.8%

Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.

−23.1% · in HKD

Earnings growth per share plus dividend yield: the value created per share and year.

Earnings growth per share−23.1%

Dividend yield0.0%

Trend ⓘ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.5Y −23.1% vs 10Y −24.3%, steady

Operating margin (EBIT) ⓘ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.7.9% (2020) → 1.3% (2025) · falling

Worst earnings drop109% (2023) (loss year, drop beyond 100%) · in HKD

Revenue +19.4%/yr

FY21 912M MOP

FY22 1.3B MOP

FY23 1.5B MOP

FY24 1.5B MOP

FY25 1.9B MOP

Net income −41.4%/yr

FY21 126M MOP

FY22 81.3M MOP

FY23 −11.6M MOP

FY24 −3.1M MOP

FY25 14.9M MOP

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MECOM Power and Construction · Fair Value
HK$0.1400 +8%Fair Value
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<a href="https://www.fairvalue-calculator.com/stock/1183.HK" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">MECOM Power and Construction · Fair Value</span><br><b style="font-size:20px">HK$0.1400</b> <span style="color:#7BB290;font-weight:700;font-size:14px">+8%</span></span><span style="font-size:11px;color:#7BB290;font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "MECOM Power and Construction Fair Value". https://www.fairvalue-calculator.com/stock/1183.HK

Peer Group

Steel · 399 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 +9% · Above median

Return on equity (TTM) 4% · Above median

Return on assets 2% · Below median

Net margin (TTM) 1% · Below median

Operating margin (TTM) 0% · Bottom 25%

Revenue growth 38% · Top 25%

Debt / equity 0.19× · Higher than median

Valuation Multiples vs Steel median · lower = cheaper

P/B 0.17× · Cheaper than 75% of peers

P/S (TTM) 0.04× · Cheaper than 75% of peers

P/FCF 0.8× · Pricier than median

Strength profile in five axes (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.

This stock

Sector peers

VALUE45 · sector 13

FUTURE100 · sector 2

PAST17 · sector 16

HEALTH91 · sector 95

DIVIDEND0 · sector 49

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

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

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ArcelorMittal S.A MT	€64.60	€46.04	−29%
JSW Steel Limited JSWSTEEL	₹1,296	₹1,119	−14%
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500228 500228	₹1,292	₹1,079	−16%
Tata Steel Limited TATASTEEL	₹188.79	₹145.39	−23%
Reliance, Inc RS	$387.59	$217.81	−44%
Baoshan Iron & Steel Co 600019	¥5.91	¥8.07	+37%
POSCO Holdings PKX	$63.13	$85.21	+35%
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Frequently asked questions

Is MECOM Power and Construction (1183) overvalued or undervalued?

As of Aug 29, 2026, our model estimates a fair value of HK$0.1400 versus a price of HK$0.1290, about +9% upside (fairly valued).

What is the fair value of 1183?

Our model-based fair value for MECOM Power and Construction is HK$0.1400 (as of Aug 29, 2026), built from audited fundamentals. The current price: HK$0.1290.

What is the quality score of 1183?

MECOM Power and Construction 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 price target for MECOM Power and Construction (1183)?

Our model-based price target is the fair value of HK$0.1400 (as of Aug 29, 2026) from 24 valuation models. Cautious scenario HK$0.1400, optimistic scenario HK$0.2000. It is a calculation from audited fundamentals, not an analyst target.

What is the MECOM Power and Construction stock forecast for 2026?

Our models put fair value at HK$0.1400, about +9% upside versus a price of HK$0.1290 (fairly valued). Cautious scenario HK$0.1400, optimistic scenario HK$0.2000. The calculation is refreshed regularly with new filings.

What is the revenue of MECOM Power and Construction (1183)?

MECOM Power and Construction reported trailing-twelve-month revenue of about HK$1.6B (latest available figure, as of Aug 29, 2026).

What is the net profit margin of 1183?

The net profit margin of MECOM Power and Construction is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.

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