1193 (1193) Fair Value & Analysis

Utilities · Market cap HK$33.1B

1 1193 1193 · HK

PriceHK$14.66

Fair ValueHK$28.25

Upside+92.7%

Quality46/100

Evidence: Medium Range HK$21.19 – HK$35.31

Fair value as of: Jul 2, 2026

From 24 valuation models · updated today

Share price −17.4% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$14.66 – HK$22.36 · fair‑value band HK$21.19 – HK$35.31 · the HK$14.66 price screens below the HK$28.25 fair value. As of Jul 2, 2026.

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Analysis

1193 (1193) currently trades at HK$14.66, while our model-based Fair Value estimate is HK$28.25 — implying the stock looks roughly 92.7% undervalued today. We read business quality at 46/100 (below-average quality), in the Utilities 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: medium) — always confirm before acting.

Over the trailing twelve months, 1193 generated revenue of HK$97.7B at a net margin of 3.6%. Revenue declined 5.2% year over year. It earns a return on equity of 7.7%. Net debt stands at HK$16.3B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$97.7B

Revenue growth (YoY) -5.2%

Net margin 3.6%

Return on equity 7.7%

Free cash flow HK$3.1B FY2025

P/E ratio 9.5

More key figures

Operating margin 4.2%

EPS (TTM) HK$1.05

Dividend yield 6.4%

EPS growth (YoY) +78.8%

Net debt HK$16.3B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1193 reported revenue of HK$97.7B in FY2025 versus HK$79.6B in FY2021, a compound +5.3%/yr. Reported net income was HK$3.5B in FY2025, compounding −13.7%/yr from FY2021.

Revenue +5.3%/yr

FY21 HK$79.6B

FY22 HK$94.3B

FY23 HK$101B

FY24 HK$103B

FY25 HK$97.7B

Net income −13.7%/yr

FY21 HK$6.4B

FY22 HK$4.7B

FY23 HK$5.2B

FY24 HK$4.1B

FY25 HK$3.5B

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Similar stocks

6 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Naturgy Energy Group GASNY	$6.36	$7.15	+12%
Atmos Energy Corporation ATO	$167.96	$87.63	-48%
Snam S.p.A SRG	€6.25	€4.39	-30%
Uniper SE UN0	€46.95	€45.97	-2%
NiSource Inc NI	$46.63	$34.64	-26%
The Hong Kong and China Gas Company HOKCY	$0.8100	$0.6500	-20%

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Frequently asked questions

Is 1193 (1193) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$28.25 versus a price of HK$14.66 — about +93% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 1193?

Our model-based fair value for 1193 is HK$28.25 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$14.66.

What is the quality score of 1193?

1193 has a Quality Score of 46/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1193 (1193)?

1193 reported trailing-twelve-month revenue of about HK$97.7B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1193?

The net profit margin of 1193 is about 3.6%, meaning it keeps roughly 3.6% of revenue as net income. Based on the latest reported figures.

Does 1193 pay a dividend?

1193 currently shows a dividend yield of about 6.38% relative to its recent price (as of Jul 2, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.