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Royale Furniture Holdings Ltd (1198) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Royale Furniture Holdings Ltd stock HK$0.20, price HK$0.13, upside +52.7%, quality 25 out of 100. Rating: strongly undervalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Consumer Cyclical HK · ISIN KYG7691E1017

RF Royale Furniture Holdings Ltd logo Thin data Nov 9, 2026

Royale Furniture Holdings Ltd

1198 · HK
Cheap, value-trap risk

The stock costs 35% less than our calculation considers fair.

Fair value HK$0.2000 · Strongly undervalued
Even on cautious assumptions the value is 15% above the price (HK$0.1500).
Quality 25/100
Weak Growth (revenue 5y −21.7 %/yr in HKD)
Loss-making · -158.2% net margin (FY2025)
High debt
Negative free cash flow
Trails peers (2/10)
Narrow moat 5/100 · thin data
Thin data
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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 →

Price vs Fair Value

HK$3.02 HK$0.0580 Fair Value HK$0.2000 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range HK$0.0580 – HK$3.02 · fair‑value band HK$0.1500 – HK$0.3000 · the HK$0.1310 price screens below the HK$0.2000 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.

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Company profile

Royale Home Holdings Limited, an investment holding company, engages in the manufacture and sale of furniture in the People's Republic of China. It operates through the Manufacture and Sale of Furniture; Development Properties for Sales and Property Investments; and Hotel Operations segments.

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The company offers bedroom, living room, dining room, study, home visit, cloakroom, and balcony products under the Royal brand; and decoration services.

It is also involved in development of properties for sale and property investments; hotel operations; trading of commodities; rental of properties; and sale of upholstered furniture.

The company was formerly known as Royale Furniture Holdings Limited and changed its name to Royale Home Holdings Limited in June 2020. Royale Home Holdings Limited was founded in 1997 and is headquartered in Tsim Sha Tsui East, Hong Kong.

Stock analysis

Royale Furniture Holdings Ltd (1198) currently trades at HK$0.1310, while our model-based Fair Value estimate is HK$0.2000, implying the stock looks roughly 35% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 81/100, which puts the data coverage at low.

Scenario range: HK$0.1500 (bear) to HK$0.3000 (bull), the price of HK$0.1310 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 25/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Royale Furniture Holdings Ltd reported revenue of 424M CNY in FY2025 versus 1.5B CNY in FY2021, a compound −27.4%/yr. Reported net income was −671M CNY in FY2025.

Key figures

Market cap HK$323M (≈ $41.2M) Micro · P/S ratio 1.37 · Return on equity −97.9% · Return on assets (EBIT) −3.3% (5-year average) · Operating margin −128% · Revenue (TTM) 306M CNY · Revenue growth (YoY) −43.0% · EPS growth (YoY) −49.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (low confidence).

What moves the price

The share trades about 44% below its 52-week high and 126% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at 53%, 1198 screens cheaper than that median.

Fair Value models

Bear HK$0.1500 Fair Value HK$0.2000 Bull HK$0.3000
Price HK$0.1310 · Upside +52.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) HK$0.1500 HK$0.2000 HK$0.3000 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.1500 HK$0.2000 HK$0.3000 54

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Quality Score breakdown

Overall quality 25/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 8
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 3
Debt, balance sheet and risk of trouble
Investment 99
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 65
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 31
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−24.2%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−37.1%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−21.7%
Start year 2020 (pandemic). Over 10 years: −4.3% a year
Revenue growth 24 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.0%
Profit margin (trend) ⓘ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.
−1.5% (2020) → −72.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer Groupⓘ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.Furnishings, Fixtures & Appliances · 297 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 25 · Bottom 25%
Fair Value upside +29.0% · Above median
Profitability
Return on assets −13.4% · Bottom 25%
Net margin (12 months) −158.2% · Bottom 25%
Operating margin (12 months) −128.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −43.0% · Bottom 25%
Balance sheet
Debt / equity 3.80× · Highest 25%

Valuation Multiplesvs Furnishings, Fixtures & Appliances median · lower = cheaper

P/B 0.51× · Cheapest 25%
P/S (12 months) 1.06× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)72 · sector 28
FUTURE (revenue growth)0 · sector 7
PAST (return on equity)0 · sector 19
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 61

Context: sector, industry, market

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Gree Electric Appliances, Inc 000651 ¥39.02 ¥97.62 +150% vs 1198
Haier Smart Home Co 600690 ¥21.62 ¥45.72 +111% vs 1198
Midea Group 000333 ¥89.60 ¥129.20 +44% vs 1198
Zhejiang Supor Co 002032 ¥45.36 ¥50.78 +12% vs 1198
Mohawk Industries, Inc MHK $150.52 $114.64 −24% vs 1198
COWAY Co 021240 107,600 KRW 76,574 KRW −29% vs 1198
King Slide Works Co 2059 8,010 TWD 4,427 TWD −45% vs 1198
SharkNinja, Inc SN $222.95 $101.56 −54% vs 1198
Somnigroup International Inc SGI $64.17 $29.05 −55% vs 1198
Guangdong Songfa Ceramics Co 603268 ¥149.45 ¥31.45 −79% vs 1198

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Royale Furniture Holdings Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Royale Furniture Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1198

Frequently asked questions

Is Royale Furniture Holdings Ltd (1198) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of HK$0.2000 versus a price of HK$0.1310, about +53% upside (undervalued).
What is the fair value of 1198?
Our model-based fair value for Royale Furniture Holdings Ltd is HK$0.2000 (as of Nov 9, 2026), built from audited fundamentals. The current price: HK$0.1310.
What is the quality score of 1198?
Royale Furniture Holdings Ltd has a Quality Score of 25/100. 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 Royale Furniture Holdings Ltd (1198)?
Our model-based price target is the fair value of HK$0.2000 (as of Nov 9, 2026) from 1 valuation models. Cautious scenario HK$0.1500, optimistic scenario HK$0.3000. It is a calculation from audited fundamentals, not an analyst target.
What is the Royale Furniture Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.2000, about +53% upside versus a price of HK$0.1310 (undervalued). Cautious scenario HK$0.1500, optimistic scenario HK$0.3000. The calculation is refreshed regularly with new filings.
What is the revenue of Royale Furniture Holdings Ltd (1198)?
Royale Furniture Holdings Ltd reported trailing-twelve-month revenue of about 306M CNY (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Royale Furniture Holdings Ltd (1198)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Royale Furniture Holdings Ltd it is HK$0.2000 per share (as of Nov 9, 2026), against a price of HK$0.1310. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Royale Furniture Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 1198 trades below its calculated fair value: price HK$0.1310, fair value HK$0.2000, a gap of about +53% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1198?
No. The price is what the market pays today (HK$0.1310); the fair value is what the company's own numbers justify (HK$0.2000). For Royale Furniture Holdings Ltd the two are HK$0.0690 per share apart. That gap is exactly why we show both numbers side by side.
How much is Royale Furniture Holdings Ltd worth?
The market values Royale Furniture Holdings Ltd at about HK$323M (market capitalisation, as of Nov 9, 2026). Per share that is HK$0.1310; our models calculate a fair value of HK$0.2000 per share.
What do the bullish and bearish scenarios say about 1198?
Our models span a range for Royale Furniture Holdings Ltd: cautious scenario HK$0.1500, base HK$0.2000, optimistic HK$0.3000 per share (as of Nov 9, 2026, price HK$0.1310). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Royale Furniture Holdings Ltd (1198)?
Balance-sheet figures for Royale Furniture Holdings Ltd (as of Nov 9, 2026): return on equity −97.9%, debt of 3.80 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is 1198 from its 52-week high?
Royale Furniture Holdings Ltd trades at HK$0.1310, about 44% below its 52-week high of HK$0.2340 and 126% above the low of HK$0.0580 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2000 is for.
Which stocks are comparable to Royale Furniture Holdings Ltd?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, SharkNinja, Inc, Haier Smart Home Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Royale Furniture Holdings Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price HK$0.1310, calculated fair value HK$0.2000 (+53%), Quality Score 25/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1198 calculated?
We run Royale Furniture Holdings Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of HK$0.2000 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Royale Furniture Holdings Ltd currently trades 35% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Royale Furniture Holdings Ltd (1198)?
The closing price on Nov 9, 2026 was HK$0.1310. Our model-based fair value is HK$0.2000, about +53% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Royale Furniture Holdings Ltd right now?
The large discount to fair value meets weak quality (25/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (HK$0.1500). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (HK$0.1500 to HK$0.3000) leaves room in how you read the outcome.

Key figures of Royale Furniture Holdings Ltd

How large is the market capitalisation of Royale Furniture Holdings Ltd (1198)?
The market capitalisation of Royale Furniture Holdings Ltd is HK$323M (≈ $41.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Royale Furniture Holdings Ltd (1198)?
The price-to-sales ratio of Royale Furniture Holdings Ltd is 1.37 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the return on equity of Royale Furniture Holdings Ltd (1198)?
The return on equity (ROE) of Royale Furniture Holdings Ltd is −97.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Royale Furniture Holdings Ltd (1198)?
On an EBIT basis the return on assets of Royale Furniture Holdings Ltd is −3.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Royale Furniture Holdings Ltd (1198)?
The operating margin of Royale Furniture Holdings Ltd is −128% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Royale Furniture Holdings Ltd (1198)?
Revenue at Royale Furniture Holdings Ltd is growing −43.0% versus a year earlier (3y avg −37.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Royale Furniture Holdings Ltd (1198)?
Earnings per share at Royale Furniture Holdings Ltd are growing −49.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Royale Furniture Holdings Ltd (1198) generate?
The free cash flow of Royale Furniture Holdings Ltd is −494M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Royale Furniture Holdings Ltd (1198) carry?
The net debt of Royale Furniture Holdings Ltd is 3.2B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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