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HKBN Ltd (1310) Fair Value & Analysis

Communication Services · HK · Market cap HK$8.7B

HL HKBN Ltd 1310 · HK
PriceHK$6.09
Fair ValueHK$3.08
Upside-49.4%
Quality53/100
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Healthy Growth
Thin margins · 1.8% net margin
High debt · generates free cash flow
5.87% dividend yield
Mixed vs. peers (7/14)
Narrow moat 34/100
Evidence: High Range HK$2.31 – HK$4.06 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 3 days ago

Share price +2.6% over the past month.

A solid business, but screening 49% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (HK$4.06). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

HK$8.20 HK$1.99 Fair Value HK$3.08 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$1.99 – HK$8.20 · fair‑value band HK$2.31 – HK$4.06 · the HK$6.09 price screens above the HK$3.08 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

HKBN Ltd (1310) currently trades at HK$6.09, while our model-based Fair Value estimate is HK$3.08, implying the stock looks roughly 49.4% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Communication Services 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: high).

Over the trailing twelve months, HKBN Ltd generated revenue of HK$11.4B at a net margin of 1.8%. Revenue grew 5.1% year over year. It earns a return on equity of 9.2%. Net debt stands at HK$10.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$2.31 (bear case) to HK$4.06 (bull case); at HK$6.09, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 32% below its 52-week high and 29% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 30% fair-value upside, at -49%, 1310 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF HK$2.78 HK$7.22 HK$14.31 80
Residual Income HK$1.30 HK$1.42 HK$1.81 76
Rev-Margin DCF HK$2.32 HK$6.62 HK$12.12 74
All 24 models by family
DCF Models
FCF DCF HK$2.83 HK$7.71 HK$15.77 38
Owner Earnings HK$3.75 HK$9.30 HK$18.50 31
5Y Revenue Exit HK$2.32 HK$6.71 HK$12.63 39
5Y EBITDA Exit HK$6.46 HK$15.17 HK$26.13 41
5Y P/E Exit — HK$1.77 HK$3.81 38
10Y Revenue Exit HK$2.25 HK$6.41 HK$12.69 36
10Y EBITDA Exit HK$5.11 HK$12.44 HK$23.65 37
10Y P/E Exit HK$0.8800 HK$2.88 HK$5.52 35
Earnings-Based
Graham-Dodd HK$0.9500 HK$4.30 HK$5.89 54
Lynch FV HK$1.12 HK$1.60 HK$2.08 50
PEG = 1.0 HK$1.12 HK$1.60 HK$2.08 46
EPV HK$1.58 HK$2.41 HK$3.13 59
Multiples
P/E Multiple HK$2.31 HK$3.08 HK$3.85 63
P/S Multiple HK$1.78 HK$2.38 HK$2.97 58
P/B Multiple HK$1.78 HK$2.38 HK$2.97 55
EV/EBIT HK$4.04 HK$6.61 HK$9.18 53
EV/EBITDA HK$9.37 HK$13.73 HK$18.08 54
EV/Revenue HK$2.17 HK$4.68 HK$7.19 43
Asset-Based
NCAV (Graham) HK$0.7700 HK$1.04 HK$1.55 50
Growth DCF
Growth DCF HK$2.78 HK$7.22 HK$14.31 80
Rev-Margin DCF HK$2.32 HK$6.62 HK$12.12 74
Economic Profit
Residual Income HK$1.30 HK$1.42 HK$1.81 76
ROIC Compounder HK$1.59 HK$3.26 HK$5.33 72
Growth Earnings
Growth-Adj P/E HK$1.87 HK$2.67 HK$3.47 68

Widest divergence: DCF Models (HK$6.71) versus Asset-Based (HK$1.04). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$11.4B
Revenue growth (YoY) +5.1%
Net margin 1.8%
Return on equity 9.2%
Free cash flow HK$796M FY2025
P/E ratio 42.1 as of Jul 2, 2026
More key figures
Operating margin 9.2%
EPS (TTM) HK$0.0700
Dividend yield 5.9%
EPS growth (YoY) -0.2%
Net debt HK$10.1B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 49 · Market factors (momentum, volatility) 44

Profitability 31
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

HKBN Ltd., an investment holding company, provides fixed telecommunications network, international telecommunications, and mobile services to residential and enterprise customers in Hong Kong, Mainland China, and Macao.

Full company description

HKBN Ltd., an investment holding company, provides fixed telecommunications network, international telecommunications, and mobile services to residential and enterprise customers in Hong Kong, Mainland China, and Macao. The company offers fibre broadband, data connectivity, cloud and data center, managed Wi-Fi with home network security and parental control, hybrid work and business continuity, system integration, household and personal cybersecurity, and voice and collaboration services; home telephone; music streaming, home and travel insurance, IT-as-a-service, healthcare, and e-Commerce shopping services; roaming and digital transformation solutions; and stationery and supplies for Transformation as a Service (TaaS) and OTT entertainment. It also provides data processing, property investment and holding, telecommunication, administrative support, enterprise systems, distribution and logistics, technical and product sale, Wi-Fi connectivity, internet, and security devices installation services; and technology solutions and consultancy services. In addition, the company markets and distributes computer hardware and software, and telecommunication and office automation products, as well as provides related services. HKBN Ltd. was founded in 1992 and is headquartered in Kwun Tong, Hong Kong. HKBN Ltd. operates as a subsidiary of China Mobile Hong Kong Company Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HKBN Ltd reported revenue of HK$11.1B in FY2025 versus HK$11.5B in FY2021, a compound −0.7%/yr. Reported net income was HK$207M in FY2025, compounding −0.0%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$11.1B
Latest YoY
+4.5%
Avg. growth/yr (3Y) ⓘ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.
−1.4%
Avg. growth/yr (5Y) ⓘ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.
+3.3%
Avg. growth/yr (13Y) ⓘ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.
+19.4%
Revenue −0.7%/yr
FY21 HK$11.5B
FY22 HK$11.6B
FY23 HK$11.7B
FY24 HK$10.7B
FY25 HK$11.1B
Net income −0.0%/yr
FY21 HK$207M
FY22 HK$553M
FY23 −HK$1.3B
FY24 HK$10.3M
FY25 HK$207M
Character of growth · EPS growth decomposed (2014-2025) −6.1 % p.a.
Revenue per share +12.5 pp

of which total revenue +17.2 pp · buybacks/dilution −4.7 pp

EBIT margin −7.0 pp
Tax rate +3.5 pp
Residual (interest, one-offs) −15.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

1310 screens 49% overvalued. Compare with China Mobile Limited →

Run the numbers yourself: free valuation calculators
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HKBN Ltd · Fair Value
HK$3.08 −49%Fair Value
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Cite: Fair Value Calculator (2026). "HKBN Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1310

Peer Group

Telecom Services · 253 stocks

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.

Quality Score 53 · Above median
Fair Value upside −49% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 9% · Below median
Revenue growth 5% · Above median
Dividend yield (TTM) 5.9% · Top 25%
Debt / equity 2.91× · Higher than 75% of peers

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 42.1× · Pricier than 75% of peers
P/B 3.81× · Pricier than 75% of peers
P/S (TTM) 0.76× · Cheaper than median
P/FCF 1.4× · Cheaper than median
EV/EBITDA 7.0× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 26
FUTURE 26 · sector 15
PAST 37 · sector 27
HEALTH 0 · sector 89
DIVIDEND 100 · sector 76

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

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥96.11 ¥109.88 +14%
Bharti Airtel Limited BHARTIARTL ₹1,945 ₹941.55 -52%
China Telecom Corporation 601728 ¥6.43 ¥8.36 +30%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 494.99 MXN +91%
Advanced Info Service Public Company ADVANC 374.00 THB 286.77 THB -23%
Chunghwa Telecom Co 2412 136.00 TWD 100.00 TWD -26%
Telefónica, S.A TEFN 75.67 MXN 108.96 MXN +44%
TLKM TLKM 2,590 IDR 3,898 IDR +50%
PT Indoritel Makmur Internasional Tbk., DNET 9,500 IDR 1,503 IDR -84%

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Frequently asked questions

Is HKBN Ltd (1310) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$3.08 versus a price of HK$6.09, about −49% (overvalued).
What is the fair value of 1310?
Our model-based fair value for HKBN Ltd is HK$3.08 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$6.09.
What is the quality score of 1310?
HKBN Ltd has a Quality Score of 53/100. 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 revenue of HKBN Ltd (1310)?
HKBN Ltd reported trailing-twelve-month revenue of about HK$11.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1310?
The net profit margin of HKBN Ltd is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.
Does HKBN Ltd pay a dividend?
HKBN Ltd currently shows a dividend yield of about 5.87% relative to its recent price (as of Aug 13, 2026).

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.

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