1204 (1204) Fair Value & Analysis

Technology · Market cap HK$1.1B

1 1204 1204 · HK

PriceHK$2.15

Fair ValueHK$0.3300

Upside-84.7%

Quality61/100

Evidence: Medium Range HK$0.2400 – HK$0.3500

Fair value as of: Jul 2, 2026

From 10 valuation models · updated today

Share price +39.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.20 – HK$2.54 · fair‑value band HK$0.2400 – HK$0.3500 · the HK$2.15 price screens above the HK$0.3300 fair value. As of Jul 2, 2026.

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Analysis

1204 (1204) currently trades at HK$2.15, while our model-based Fair Value estimate is HK$0.3300 — implying the stock looks roughly 84.7% overvalued today. We read business quality at 61/100 (solid quality), in the Technology 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, 1204 generated revenue of HK$734M at a net margin of 1.1%. Revenue grew 25.0% year over year. It earns a return on equity of 2.4%. The balance sheet holds a net cash position of HK$37.4M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$734M

Revenue growth (YoY) +25.0%

Net margin 1.1%

Return on equity 2.4%

Free cash flow −HK$20.5M FY2025

P/E ratio 107.0

More key figures

Operating margin 0.0%

EPS growth (YoY) -24.4%

Net cash HK$37.4M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1204 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.

Revenue +8.3%/yr

FY21 HK$534M

FY22 HK$581M

FY23 HK$718M

FY24 HK$648M

FY25 HK$734M

Net income −23.7%/yr

FY21 HK$24.0M

FY22 HK$3.3M

FY23 HK$4.5M

FY24 HK$952K

FY25 HK$8.1M

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Similar stocks

6 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
International Business Machines Corporation IBM	$272.36	$174.70	-36%
Accenture plc ACN	$178.86	$228.49	+28%
Tata Consultancy Services Limited TCS	₹2,199	₹1,863	-15%
Infosys Limited INFY	₹1,065	₹15.23	-99%
Fujitsu Limited FJTSF	$19.70	$17.37	-12%
HCL Technologies Limited HCLTECH	₹1,155	₹1,220	+6%

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Frequently asked questions

Is 1204 (1204) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.3300 versus a price of HK$2.15 — about −85% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 1204?

Our model-based fair value for 1204 is HK$0.3300 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.15.

What is the quality score of 1204?

1204 has a Quality Score of 61/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1204 (1204)?

1204 reported trailing-twelve-month revenue of about HK$734M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1204?

The net profit margin of 1204 is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. 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.

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