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Wang On Properties Ltd (1243) fair value: what the stock is really worth

As of Nov 13, 2026: fair value (intrinsic value) of Wang On Properties Ltd stock HK$0.04, price HK$0.03, upside +52.9%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Real Estate HK · ISIN BMG9430P1086

WO Wang On Properties Ltd logo Thin data Nov 12, 2026

Wang On Properties Ltd

1243 · HK

Cheap (35% below fair value) and solid company, but falling price: meets 2 of 3 rules.

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Fair value HK$0.0398 · Strongly undervalued 
Generates free cash flow 
Even on cautious assumptions the value is 22% above the price (HK$0.0318). 
Quality 59/100 
Mixed Growth (revenue 5y +32.7 %/yr in HKD) 
Moderate debt 
Mixed vs. peers (5/11) 
Falling price (downtrend) 
Loss-making · -65.5% net margin (TTM) 
Narrow moat 8/100 · 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$0.1040 HK$0.0260 Fair Value HK$0.0398 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.

How to read this chart

60‑month range HK$0.0260 – HK$0.1040 · fair‑value band HK$0.0318 – HK$0.0518 · the HK$0.0260 price screens below the HK$0.0398 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 12, 2026.

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Company profile

Wang On Properties Limited, an investment holding company, invests in, develops, and sells residential and commercial properties in Hong Kong. It operates through three segments: Property Development, Property Investment, and Asset Management.

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The company engages in the investment of commercial premises for rental or for sale; and provision of management, securities investment, asset management, and financial services. It is also involved in the trading of properties.

The company was incorporated in 2015 and is headquartered in Kowloon Bay, Hong Kong. Wang On Properties Limited is a subsidiary of Earnest Spot Limited.

Stock analysis

Wang On Properties Ltd (1243) currently trades at HK$0.0260, while our model-based Fair Value estimate is HK$0.0398, implying the stock looks roughly 35% undervalued today.

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Valuation

How firm this estimate is: it rests on 6 models at a data quality of 89/100, which puts the data coverage at low.

Scenario range: HK$0.0318 (bear) to HK$0.0518 (bull), the price of HK$0.0260 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 59/100 (solid quality), in the Real Estate sector.

Mixed Growth: Spin-off in 2017: revenue and profit before it include the divested business. Growth is measured afresh from 2017.

Wang On Properties Ltd reported revenue of HK$1.4B in FY2026 versus HK$38.9M in FY2022, a compound +144.9%/yr. Reported net income was −HK$914M in FY2026.

Key figures

Market cap HK$395M (≈ $50.4M) Micro · P/S ratio 0.28 · Net margin −65.5% · Return on equity −38.9% · Return on assets (EBIT) −3.9% (5-year average) · Operating margin −30.1% · Revenue (TTM) HK$1.4B · Revenue growth (YoY) −2.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 41% fair-value upside, at 53%, 1243 screens cheaper than that median.

Fair Value models

Bear HK$0.0318 Fair Value HK$0.0398 Bull HK$0.0518
Price HK$0.0260 · Upside +52.9%
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
FCF DCF HK$0.6600 HK$1.19 HK$2.02 78
Growth DCF HK$0.6400 HK$1.09 HK$1.73 77
5Y Revenue Exit HK$0.4700 HK$0.8400 HK$1.34 71
All 6 models by family
DCF Models
FCF DCF HK$0.6600 HK$1.19 HK$2.02 78
5Y Revenue Exit HK$0.4700 HK$0.8400 HK$1.34 71
10Y Revenue Exit HK$0.5200 HK$0.8800 HK$1.42 65
Multiples
EV/Revenue HK$0.2900 HK$0.4900 HK$0.6800 52
Asset-Based
NCAV (Graham) HK$0.0800 HK$0.1100 HK$0.1700 53
Growth DCF
Growth DCF HK$0.6400 HK$1.09 HK$1.73 77

Open the full fair value analysis →

Quality Score breakdown

Overall quality 59/100

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

Profitability 2
How much profit the company makes from its sales and capital
Quality Growth 53
Are margins and returns getting better?
Cashflow 100
Do the profits arrive as real cash?
Financial strength 46
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 55
How calm the share price moves, does not count
Price momentum 15
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
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. 55/100
Spin-off in 2017: revenue and profit before it include the divested business. Growth is measured afresh from 2017.
Revenue growth 1 year
+11.3%
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.
−11.2%
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.
+32.7%
Start year 2021 (pandemic)
Revenue growth 8 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.
+0.4%
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.
−17.5% (2021) → −26.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 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.Real Estate - Development · 491 stocks

Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 59 · Top 25%
Fair Value upside +53.1% · Above median
Profitability
Return on assets −16.4% · Bottom 25%
Net margin (12 months) −65.5% · Bottom 25%
Operating margin (12 months) −30.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −2.9% · Below median
Balance sheet
Debt / equity 0.74× · Above median

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/B 0.15× · Cheapest 25%
P/S (12 months) 0.28× · Cheapest 25%
Price / free cash flow (fiscal year) 0.4× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 69
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 17
HEALTH (low debt)63 · sector 83
DIVIDEND (yield)0 · sector 62

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China Resources Land Limited 1109 HK$29.92 HK$78.45 +162% vs 1243
Poly Developments and Holdings 600048 ¥5.23 ¥10.09 +93% vs 1243
China Overseas Land & Investment Limited 0688 HK$12.19 HK$22.53 +85% vs 1243
CK Asset Holdings 1113 HK$49.24 HK$72.05 +46% vs 1243
Sun Hung Kai Properties Limited 0016 HK$110.90 HK$156.00 +41% vs 1243
China Merchants Shekou Industrial Zone Holdings 001979 ¥7.48 ¥5.64 −25% vs 1243
Sino Land Company 0083 HK$10.38 HK$6.32 −39% vs 1243
Lodha Developers Limited LODHA ₹1,220 ₹271.92 −78% vs 1243
DLF Limited DLF ₹758.75 ₹167.48 −78% vs 1243
Hongkong Land Holdings H78 $8.22 $1.52 −82% vs 1243

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Wang On Properties Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Wang On Properties Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1243

Frequently asked questions

Is Wang On Properties Ltd (1243) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of HK$0.0398 versus a price of HK$0.0260, about +53% upside (undervalued).
What is the fair value of 1243?
Our model-based fair value for Wang On Properties Ltd is HK$0.0398 (as of Nov 12, 2026), built from audited fundamentals. The current price: HK$0.0260.
What is the quality score of 1243?
Wang On Properties Ltd has a Quality Score of 59/100. 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 Wang On Properties Ltd (1243)?
Our model-based price target is the fair value of HK$0.0398 (as of Nov 12, 2026) from 6 valuation models. Cautious scenario HK$0.0318, optimistic scenario HK$0.0518. It is a calculation from audited fundamentals, not an analyst target.
What is the Wang On Properties Ltd stock forecast for 2026?
Our models put fair value at HK$0.0398, about +53% upside versus a price of HK$0.0260 (undervalued). Cautious scenario HK$0.0318, optimistic scenario HK$0.0518. The calculation is refreshed regularly with new filings.
What is the revenue of Wang On Properties Ltd (1243)?
Wang On Properties Ltd reported trailing-twelve-month revenue of about HK$1.4B (latest available figure, as of Nov 12, 2026).
What is the intrinsic value of Wang On Properties Ltd (1243)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wang On Properties Ltd it is HK$0.0398 per share (as of Nov 12, 2026), against a price of HK$0.0260. It is the blended result of 6 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Wang On Properties Ltd stock overvalued or undervalued in 2026?
As of Nov 12, 2026, 1243 trades below its calculated fair value: price HK$0.0260, fair value HK$0.0398, 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 1243?
No. The price is what the market pays today (HK$0.0260); the fair value is what the company's own numbers justify (HK$0.0398). For Wang On Properties Ltd the two are HK$0.0138 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wang On Properties Ltd worth?
The market values Wang On Properties Ltd at about HK$395M (market capitalisation, as of Nov 12, 2026). Per share that is HK$0.0260; our models calculate a fair value of HK$0.0398 per share.
What do the bullish and bearish scenarios say about 1243?
Our models span a range for Wang On Properties Ltd: cautious scenario HK$0.0318, base HK$0.0398, optimistic HK$0.0518 per share (as of Nov 12, 2026, price HK$0.0260). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Wang On Properties Ltd (1243)?
Balance-sheet figures for Wang On Properties Ltd (as of Nov 12, 2026): return on equity −38.9%, debt of 0.74 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 1243 from its 52-week high?
Wang On Properties Ltd trades at HK$0.0260, about 33% below its 52-week high of HK$0.0390 and at the low of HK$0.0260 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.0398 is for.
Which stocks are comparable to Wang On Properties Ltd?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, DLF 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 Wang On Properties Ltd stock attractive at the current price?
The data as of Nov 12, 2026: price HK$0.0260, calculated fair value HK$0.0398 (+53%), Quality Score 59/100, from 6 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 1243 calculated?
We run Wang On Properties Ltd through 6 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of HK$0.0398 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. Wang On Properties 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 Wang On Properties Ltd (1243)?
The closing price on Nov 13, 2026 was HK$0.0260. Our model-based fair value is HK$0.0398, about +53% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wang On Properties Ltd right now?
The price is below even our cautious bear case (HK$0.0318). 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. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Wang On Properties Ltd

How large is the market capitalisation of Wang On Properties Ltd (1243)?
The market capitalisation of Wang On Properties Ltd is HK$395M (≈ $50.4M). 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 Wang On Properties Ltd (1243)?
The price-to-sales ratio of Wang On Properties Ltd is 0.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Wang On Properties Ltd (1243)?
The net margin of Wang On Properties Ltd is −65.5% (fiscal year 2026). 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 Wang On Properties Ltd (1243)?
The return on equity (ROE) of Wang On Properties Ltd is −38.9% (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 Wang On Properties Ltd (1243)?
On an EBIT basis the return on assets of Wang On Properties Ltd is −3.9% (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 Wang On Properties Ltd (1243)?
The operating margin of Wang On Properties Ltd is −30.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wang On Properties Ltd (1243)?
Revenue at Wang On Properties Ltd is down 2.9% versus a year earlier (3y avg −11.2%). 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 Wang On Properties Ltd (1243)?
Earnings per share at Wang On Properties Ltd are down 63.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Wang On Properties Ltd (1243) generate?
The free cash flow of Wang On Properties Ltd is HK$921M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Wang On Properties Ltd (1243) carry?
The net debt of Wang On Properties Ltd is HK$2.4B (fiscal year 2026, ≈ 2.6 yrs of FCF). 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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