Symphony Holdings Ltd (1223) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Symphony Holdings Ltd HK$0.27, price HK$1.29, upside -79.1%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Symphony Holdings Ltd for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$0.7564 – HK$1.70 · fair‑value band HK$0.2300 – HK$0.3100 · the HK$1.29 price screens above the HK$0.2700 fair value. Dashed = 300-day average. As of Sep 27, 2026.
Follow Symphony Holdings in your weekly email
Every Wednesday you see whether Symphony Holdings is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Symphony Holdings Limited, an investment holding company, engages in the branding, retailing, and financial services business in the People's Republic of China, Hong Kong, the United States, other Asian countries, and internationally. It operates through Branding, Retailing, and Financial Services segments.
Show more
Symphony Holdings Limited, an investment holding company, engages in the branding, retailing, and financial services business in the People's Republic of China, Hong Kong, the United States, other Asian countries, and internationally. It operates through Branding, Retailing, and Financial Services segments. The company is involved in the distribution of Japanese wine; sourcing, manufacturing, and trading of healthcare products; and development and management of SKINS trademarks. It also manages and operates outlet malls and fashion stores; and provides securities brokerage, margin financing, financial consulting, and money lending services. In addition, the company offers information technology, corporate, and portfolio management services; and accountancy, legal, secretarial, and cruiser services. Further, it engages in the trading, retailing, and distribution of swimming apparel and accessories; property investment; holding of club debentures; sub-licensing of trademark rights; manufactures and sales of alcoholic beverages and food; and trading and wholesaling of sportswear. Additionally, the company provides asset management and investment advisory services; operates park outlets; and owns sports brand of SKINS. The company was formerly known as Liang Shing (Holdings) Limited and changed its name to Symphony Holdings Limited in 1997. Symphony Holdings Limited was incorporated in 1993 and is headquartered in North Point, Hong Kong.
Stock analysis
Symphony Holdings Ltd (1223) currently trades at HK$1.29, while our model-based Fair Value estimate is HK$0.2700, 79.1% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Asset-Based group reads highest at a median of HK$0.5300 per share, and 0 of the 11 models we run sit above the HK$1.29 price.
Bear case: the Multiples group reads lowest at HK$0.0500, and 11 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.2300 (bear) to HK$0.3100 (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 58/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Symphony Holdings Ltd reported revenue of HK$309M in FY2025 versus HK$323M in FY2021, a compound −1.2%/yr. Reported net income was −HK$32.9M in FY2025.
Key figures
Market cap HK$3.8B (≈ $489M) · P/S ratio 12.3 · Dividend yield 0.4% · Net margin −10.7% · Return on equity −1.5% · Return on assets (EBIT) 0.2% · Operating margin −4.2% · Revenue (TTM) HK$309M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −48% fair-value upside, at −79%, 1223 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (HK$0.0500 to HK$0.5300). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear HK$0.2300Fair Value HK$0.2700Bull HK$0.3100
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. 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.Evidence ⓘEvidence = 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.
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.29/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+0.4%
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.
+3.4%
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.
−2.6%
Start year 2020 (pandemic). Over 10 years: −1.3% a year
Revenue growth 25 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.
−2.8%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
−25.8% (2018) → −16.5% (2023)
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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+28.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +25.5% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Real Estate - Diversified · 133 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−79.1% · Bottom 25%
Profitability
Return on assets−0.1% · Bottom 25%
Net margin (TTM)−10.7% · Bottom 25%
Operating margin (TTM)−4.2% · Bottom 25%
Growth and dividend
Revenue growth2.1% · Below median
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.18× · Below median
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
P/B0.21× · Cheapest 25%
P/S (TTM)1.58× · Cheaper than median
P/FCF5.1× · Cheaper than median
EV/EBITDA10.7× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)11· sector 24
PAST (return on equity)0· sector 20
HEALTH (low debt)91· sector 74
DIVIDEND (yield)8· sector 61
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Symphony Holdings Ltd (1223) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.2700 versus a price of HK$1.29, about −79% upside (overvalued).
What is the fair value of 1223?
Our model-based fair value for Symphony Holdings Ltd is HK$0.2700 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$1.29.
What is the quality score of 1223?
Symphony Holdings Ltd has a Quality Score of 58/100. 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 Symphony Holdings Ltd (1223)?
Our model-based price target is the fair value of HK$0.2700 (as of Sep 27, 2026) from 11 valuation models. Cautious scenario HK$0.2300, optimistic scenario HK$0.3100. It is a calculation from audited fundamentals, not an analyst target.
What is the Symphony Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.2700, about −79% upside versus a price of HK$1.29 (overvalued). Cautious scenario HK$0.2300, optimistic scenario HK$0.3100. The calculation is refreshed regularly with new filings.
What is the revenue of Symphony Holdings Ltd (1223)?
Symphony Holdings Ltd reported trailing-twelve-month revenue of about HK$309M (latest available figure, as of Sep 27, 2026).
Does Symphony Holdings Ltd pay a dividend?
Symphony Holdings Ltd currently shows a dividend yield of about 0.39% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Symphony Holdings Ltd (1223)?
For today's price to be fair in a discounted-cash-flow model, Symphony Holdings Ltd would have to grow free cash flow by +28.1 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.6 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 1223 use?
Our models discount Symphony Holdings Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.10, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Symphony Holdings Ltd that is +28.1 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Symphony Holdings Ltd (1223) delivered so far?
Over the past 5 years revenue at Symphony Holdings Ltd grew -2.6 % a year. The price currently implies +28.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Symphony Holdings Ltd (1223) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Symphony Holdings Ltd (+28.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Symphony Holdings Ltd (1223)?
The free-cash-flow yield on the price is 2.51 %: that much free cash flow Symphony Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Symphony Holdings Ltd (1223)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Symphony Holdings Ltd it is HK$0.2700 per share (as of Sep 27, 2026), against a price of HK$1.29. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Symphony Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 1223 trades above its calculated fair value: price HK$1.29, fair value HK$0.2700, a gap of about −79% (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 1223?
No. The price is what the market pays today (HK$1.29); the fair value is what the company's own numbers justify (HK$0.2700). For Symphony Holdings Ltd the two are HK$1.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Symphony Holdings Ltd worth?
The market values Symphony Holdings Ltd at about HK$3.8B (market capitalisation, as of Sep 27, 2026). Per share that is HK$1.29; our models calculate a fair value of HK$0.2700 per share.
What do the bullish and bearish scenarios say about 1223?
Our models span a range for Symphony Holdings Ltd: cautious scenario HK$0.2300, base HK$0.2700, optimistic HK$0.3100 per share (as of Sep 27, 2026, price HK$1.29). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Symphony Holdings Ltd (1223)?
Balance-sheet figures for Symphony Holdings Ltd (as of Sep 27, 2026): return on equity −1.5%, debt of 0.18 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 1223 from its 52-week high?
Symphony Holdings Ltd trades at HK$1.29, about 24% below its 52-week high of HK$1.70 and 8% above the low of HK$1.20 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2700 is for.
Which stocks are comparable to Symphony Holdings Ltd?
From the same area (Real Estate) we also value Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills Limited, Prestige Estates Projects 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 Symphony Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$1.29, calculated fair value HK$0.2700 (−79%), Quality Score 58/100, from 11 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 1223 calculated?
We run Symphony Holdings Ltd through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.2700, 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 14.8 % above its aggregate fair value. Symphony Holdings Ltd 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 Symphony Holdings Ltd (1223)?
The closing price on Sep 30, 2026 was HK$1.29. Our model-based fair value is HK$0.2700, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Symphony Holdings Ltd right now?
The price sits above even our optimistic bull case (HK$0.3100). 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 (58/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Symphony Holdings Ltd
How large is the market capitalisation of Symphony Holdings Ltd (1223)?
The market capitalisation of Symphony Holdings Ltd is HK$3.8B (≈ $489M). 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 Symphony Holdings Ltd (1223)?
The price-to-sales ratio of Symphony Holdings Ltd is 12.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Symphony Holdings Ltd (1223)?
The dividend yield of Symphony Holdings Ltd is 0.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Symphony Holdings Ltd (1223)?
The net margin of Symphony Holdings Ltd is −10.7% (fiscal year 2025). 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 Symphony Holdings Ltd (1223)?
The return on equity (ROE) of Symphony Holdings Ltd is −1.5% (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 Symphony Holdings Ltd (1223)?
On an EBIT basis the return on assets of Symphony Holdings Ltd is 0.2% (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 Symphony Holdings Ltd (1223)?
The operating margin of Symphony Holdings Ltd is −4.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Symphony Holdings Ltd (1223)?
Revenue at Symphony Holdings Ltd is growing +2.1% versus a year earlier (3y avg +3.4%). 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 Symphony Holdings Ltd (1223)?
Earnings per share at Symphony Holdings Ltd are growing −61.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Symphony Holdings Ltd (1223) carry?
The net debt of Symphony Holdings Ltd is HK$1.1B (fiscal year 2025, ≈ 11.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Symphony Holdings Ltd in the live analysis
One click puts Symphony Holdings Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
