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Boardware Intelligence Tech (1204) fair value: what the stock is really worth

As of Nov 5, 2026: fair value (intrinsic value) of Boardware Intelligence Tech stock HK$0.39, price HK$1.29, that is 69.8% below the price, quality 57 out of 100. Rating: strongly overvalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.

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Technology HK · Based in Macau

BI Boardware Intelligence Tech logo Thin data Nov 15, 2026

Boardware Intelligence Tech

1204 · HK

Far too expensive (fair value 70% below the price) and falling price, but solid company: meets 1 of 3 rules.

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Low debt 
Quality 57/100 
Expensive Growth (revenue 5y +9.1 %/yr in HKD) 
Thin margins · 1.2% net margin (TTM) 
Costs 63 times its yearly profit. 
Fair value HK$0.3900 · Strongly overvalued 
Falling price (downtrend) 
Negative free cash flow 
Trails peers (4/12) 
Narrow moat 22/100 · thin data
Thin data 
⚠ Thinly traded⚠ Small free float
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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$4.63 HK$0.9000 Fair Value HK$0.3900 Jul 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 15, 2026.

How to read this chart

52‑month range HK$0.9000 – HK$4.63 · fair‑value band HK$0.3400 – HK$0.4300 · the HK$1.29 price screens above the HK$0.3900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 15, 2026.

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Company profile

BoardWare Intelligence Technology Limited provides enterprise IT solutions in Macau, Hong Kong, the People's Republic of China, and internationally.

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It offers professional IT services, network configuration, assessment of system specifications and requirements, procurement and delivery of hardware and software, and installation of equipment and software.

The company also provides managed services, such as leasing IT equipment to its customers under finance lease arrangements; security monitoring services to protect customers' information and data security; and network operating environment solutions.

In addition, it distributes, sells, and resells various packaged IT hardware and software products and solutions; offers IT maintenance and consultancy services comprising on-site support and technical support services for the customers, and post sales maintenance, support and software development services.

Further, the company is involved in research and development activities; and provision of IT solution services consists of procurement and integration services. The company was founded in 2010 and is headquartered in Macau, Macau.

BoardWare Intelligence Technology Limited operates as a subsidiary of Tai Wah (BVI) Holdings Limited.

Stock analysis

Boardware Intelligence Tech (1204) currently trades at HK$1.29, while our model-based Fair Value estimate is HK$0.3900, 70% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of HK$0.5850 per share, and 1 of the 10 models we run sit above the HK$1.29 price.

Bear case: the Earnings-Based group reads lowest at HK$0.1500, and 9 of the 10 models stay below the price. Data coverage for this calculation is low.

Scenario range: HK$0.3400 (bear) to HK$0.4300 (bull), the price of HK$1.29 sits above 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 57/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Boardware Intelligence Tech reported revenue of HK$734M in FY2025 versus HK$534M in FY2021, a compound +8.3%/yr. Reported net income was HK$8.1M in FY2025, compounding −23.7%/yr from FY2021.

Key figures

Market cap HK$645M (≈ $82.2M) Micro · P/E ratio 62.5 · P/S ratio 0.69 · Net margin 1.2% · Return on equity 2.5% · Return on assets (EBIT) 1.0% (5-year average) · Operating margin −1.5% · Revenue (TTM) HK$729M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).

What moves the price

The share trades about 49% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 24% fair-value upside, at −70%, 1204 screens richer than that median.

Fair Value models

Bear HK$0.3400 Fair Value HK$0.3900 Bull HK$0.4300
Price HK$1.29 · Downside -69.8%
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
Residual Income HK$0.3700 HK$0.3900 HK$0.4300 71
EV/EBITDA HK$0.5500 HK$0.7100 HK$0.8700 67
Growth-Adj P/E HK$0.2300 HK$0.3300 HK$0.4300 67
All 10 models by family
Earnings-Based
Graham-Dodd HK$0.1100 HK$0.4400 HK$0.5900 64
Lynch FV HK$0.1100 HK$0.1500 HK$0.2000 61
PEG = 1.0 HK$0.1100 HK$0.1500 HK$0.2000 57
Multiples
P/E Multiple HK$0.3400 HK$0.4600 HK$0.5700 63
P/S Multiple HK$0.2100 HK$0.2800 HK$0.3500 58
P/B Multiple HK$3.08 HK$4.10 HK$5.13 55
EV/EBITDA HK$0.5500 HK$0.7100 HK$0.8700 67
Asset-Based
NCAV (Graham) HK$0.3000 HK$0.4600 HK$0.5800 54
Economic Profit
Residual Income HK$0.3700 HK$0.3900 HK$0.4300 71
Growth Earnings
Growth-Adj P/E HK$0.2300 HK$0.3300 HK$0.4300 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 57/100

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

Profitability 36
How much profit the company makes from its sales and capital
Quality Growth 57
Are margins and returns getting better?
Cashflow 29
Do the profits arrive as real cash?
Financial strength 79
Debt, balance sheet and risk of trouble
Investment 81
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 6
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 5
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

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. 47/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+13.3%
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.
+8.1%
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.
+9.1%
Start year 2020 (pandemic)
Revenue growth 7 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.
+8.3%
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
−45.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−45.9%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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% → 0%
2025 sits 150% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

1204 screens overvalued: fair value 70% below the price. Compare with International Business Machines Corporation →

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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.Information Technology Services · 517 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 57 · Above median
Fair Value upside −69.8% · Bottom 25%
Profitability
Return on equity (12 months) 2.5% · Below median
Return on assets 1.2% · Below median
Net margin (12 months) 1.2% · Below median
Operating margin (12 months) −1.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −1.7% · Below median
Balance sheet
Debt / equity 0.02× · Below median

Valuation Multiplesvs Information Technology Services median · lower = cheaper

P/E (12 months) 62.5× · Priciest 25%
P/B 1.87× · Cheaper than median
P/S (12 months) 0.89× · Cheaper than median
EV/EBITDA 62.7× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)0 · sector 30
PAST (return on equity)10 · sector 31
HEALTH (low debt)99 · sector 97
DIVIDEND (yield)0 · sector 39

VALUE 0: the price sits above our fair-value range.

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 Information Technology Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Cognizant Technology Solutions Corporation CTSH $63.01 $139.68 +122% vs 1204
Wipro Limited WIPRO ₹194.60 ₹287.86 +48% vs 1204
Infosys Limited INFY ₹1,142 ₹1,661 +46% vs 1204
Accenture plc ACN $250.49 $332.90 +33% vs 1204
Tata Consultancy Services Limited TCS ₹2,408 ₹2,993 +24% vs 1204
HCL Technologies Limited HCLTECH ₹1,378 ₹1,602 +16% vs 1204
Amadeus IT Group AMS €62.16 €68.53 +10% vs 1204
CDW Corporation CDW $171.65 $165.54 −4% vs 1204
Broadridge Financial Solutions, Inc BR $192.45 $161.18 −16% vs 1204
International Business Machines Corporation IBM $247.13 $185.39 −25% vs 1204

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Boardware Intelligence Tech: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Boardware Intelligence Tech Fair Value". https://www.fairvalue-calculator.com/stock/1204

Frequently asked questions

Is Boardware Intelligence Tech (1204) overvalued or undervalued?
As of Nov 15, 2026, our model estimates a fair value of HK$0.3900 versus the last price from Nov 5, 2026 of HK$1.29, about 70% lower (overvalued).
What is the fair value of 1204?
Our model-based fair value for Boardware Intelligence Tech is HK$0.3900 (as of Nov 15, 2026), built from audited fundamentals. Last price (from Nov 5, 2026): HK$1.29.
What is the quality score of 1204?
Boardware Intelligence Tech has a Quality Score of 57/100. 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 Boardware Intelligence Tech (1204)?
Our model-based price target is the fair value of HK$0.3900 (as of Nov 15, 2026) from 10 valuation models. Cautious scenario HK$0.3400, optimistic scenario HK$0.4300. It is a calculation from audited fundamentals, not an analyst target.
What is the Boardware Intelligence Tech stock forecast for 2026?
Our models put fair value at HK$0.3900, about 70% lower versus the last price from Nov 5, 2026 of HK$1.29 (overvalued). Cautious scenario HK$0.3400, optimistic scenario HK$0.4300. The calculation is refreshed regularly with new filings.
What is the revenue of Boardware Intelligence Tech (1204)?
Boardware Intelligence Tech reported trailing-twelve-month revenue of about HK$729M (latest available figure, as of Nov 15, 2026).
What is the intrinsic value of Boardware Intelligence Tech (1204)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Boardware Intelligence Tech it is HK$0.3900 per share (as of Nov 15, 2026), against a price of HK$1.29. It is the blended result of 10 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Boardware Intelligence Tech stock overvalued or undervalued in 2026?
As of Nov 15, 2026, 1204 trades above its calculated fair value: price HK$1.29, fair value HK$0.3900, a gap of about −70% (overvalued). 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 1204?
No. The price is what the market pays today (HK$1.29); the fair value is what the company's own numbers justify (HK$0.3900). For Boardware Intelligence Tech the two are HK$0.9000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Boardware Intelligence Tech worth?
The market values Boardware Intelligence Tech at about HK$645M (market capitalisation, as of Nov 15, 2026). Per share that is HK$1.29; our models calculate a fair value of HK$0.3900 per share.
What do the bullish and bearish scenarios say about 1204?
Our models span a range for Boardware Intelligence Tech: cautious scenario HK$0.3400, base HK$0.3900, optimistic HK$0.4300 per share (as of Nov 15, 2026, price HK$1.29). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1204?
Boardware Intelligence Tech trades at a price-to-earnings ratio of 62.5 (as of Nov 15, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.3900 is built from several models across several years. Other multiples: P/B 1.9, P/S 0.9, EV/EBITDA 62.7.
How solid is the balance sheet of Boardware Intelligence Tech (1204)?
Balance-sheet figures for Boardware Intelligence Tech (as of Nov 15, 2026): return on equity 2.5%, debt of 0.02 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 1204 from its 52-week high?
Boardware Intelligence Tech trades at HK$1.29, about 49% below its 52-week high of HK$2.54 and 11% above the low of HK$1.16 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.3900 is for.
Which stocks are comparable to Boardware Intelligence Tech?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, 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 Boardware Intelligence Tech stock attractive at the current price?
The data as of Nov 15, 2026: price HK$1.29, calculated fair value HK$0.3900 (−70%), Quality Score 57/100, from 10 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 1204 calculated?
We run Boardware Intelligence Tech through 10 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$0.3900 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 14.1% above its aggregate fair value. Boardware Intelligence Tech itself currently trades above fair value. 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 Boardware Intelligence Tech (1204)?
The latest price we hold is from Nov 5, 2026 and stands at HK$1.29. Our model-based fair value is HK$0.3900, about 70% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Boardware Intelligence Tech right now?
The price sits above even our optimistic bull case (HK$0.4300). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Boardware Intelligence Tech

How large is the market capitalisation of Boardware Intelligence Tech (1204)?
The market capitalisation of Boardware Intelligence Tech is HK$645M (≈ $82.2M). 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 Boardware Intelligence Tech (1204)?
The price-to-sales ratio of Boardware Intelligence Tech is 0.69 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Boardware Intelligence Tech (1204)?
The net margin of Boardware Intelligence Tech is 1.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Boardware Intelligence Tech (1204)?
The return on equity (ROE) of Boardware Intelligence Tech is 2.5% (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 Boardware Intelligence Tech (1204)?
On an EBIT basis the return on assets of Boardware Intelligence Tech is 1.0% (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 Boardware Intelligence Tech (1204)?
The operating margin of Boardware Intelligence Tech is −1.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Boardware Intelligence Tech (1204)?
Revenue at Boardware Intelligence Tech is down 1.7% versus a year earlier (3y avg +8.1%). 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 Boardware Intelligence Tech (1204)?
Earnings per share at Boardware Intelligence Tech are growing 61.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Boardware Intelligence Tech (1204) generate?
The free cash flow of Boardware Intelligence Tech is −HK$20.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Boardware Intelligence Tech (1204) hold?
Boardware Intelligence Tech holds more cash than debt, HK$37.4M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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