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Embry Holdings (1388) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$127M

EH Embry Holdings 1388 · HK
PriceHK$0.2600
Fair ValueHK$0.1991
Upside-23.4%
Quality47/100
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Weak Growth
Loss-making · -21.6% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 0/100
Evidence: Low Range HK$0.1481 – HK$0.2970 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.2023 to HK$0.1991 (−1.6%) since Aug 5, 2026. Share price −5.5% over the past month.

Below-average quality, and screening another 23% overvalued on our models.

What matters now

  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (HK$0.1481 to HK$0.2970) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
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Price vs Fair Value (5 years)

HK$1.43 HK$0.2600 Fair Value HK$0.1991 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$0.2600 – HK$1.43 · fair‑value band HK$0.1481 – HK$0.2970 · the HK$0.2600 price screens above the HK$0.1991 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Embry Holdings (1388) currently trades at HK$0.2600, while our model-based Fair Value estimate is HK$0.1991, implying the stock looks roughly 23.4% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical 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: low).

Over the trailing twelve months, Embry Holdings generated revenue of HK$1.2B at a net margin of -21.6%. Revenue grew 8.5% year over year. It earns a return on equity of -15.5%. Net debt stands at HK$287M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1481 (bear case) to HK$0.2970 (bull case); at HK$0.2600, the current price sits within 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 47% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 27% fair-value upside, at -23%, 1388 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
NCAV (Graham) HK$1.83 HK$2.46 HK$3.67 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$1.83 HK$2.46 HK$3.67 50

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Key figures & financial health

Revenue (TTM) HK$1.2B
Revenue growth (YoY) +8.5%
Net margin -21.6%
Return on equity -15.5%
Free cash flow −HK$37.2M FY2025
Operating margin -20.7%
More key figures
EPS (TTM) HK$-0.1400
EPS growth (YoY) +389%
Net debt HK$287M FY2025

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

Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 26

Profitability 19
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 0
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

Embry Holdings Limited, an investment holding company, designs, research, develops, manufactures, trades in, and sells ladies lingerie, brassieres, panties, swimwear, sleepwear, and others in Chinese Mainland, Hong Kong, and internationally.

Full company description

Embry Holdings Limited, an investment holding company, designs, research, develops, manufactures, trades in, and sells ladies lingerie, brassieres, panties, swimwear, sleepwear, and others in Chinese Mainland, Hong Kong, and internationally. The company sells its lingerie products primarily under the EMBRY FORM, FANDECIE, COMFIT, E-BRA, IVU, IADORE, EMBRYKIDS, and LIZA CHENG brands. It also holds trademark and invests in properties. The company sells its products directly to customers through retail outlets comprising concessionary counters and retail stores, as well as through online channel. The company was founded in 1975 and is headquartered in Kwai Chung, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Embry Holdings reported revenue of HK$1.2B in FY2025 versus HK$1.7B in FY2021, a compound −8.3%/yr. Reported net income was −HK$253M in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.2B
Latest YoY
+1.5%
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.
−4.3%
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.
−6.7%
Avg. growth/yr (22Y) 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.
+4.7%
Revenue −8.3%/yr
FY21 HK$1.7B
FY22 HK$1.3B
FY23 HK$1.3B
FY24 HK$1.2B
FY25 HK$1.2B
Net income
FY21 −HK$27.5M
FY22 −HK$51.2M
FY23 −HK$72.2M
FY24 −HK$373M
FY25 −HK$253M

1388 screens 23% overvalued. Compare with H & M Hennes & Mauritz AB →

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Cite: Fair Value Calculator (2026). "Embry Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1388

Peer Group

Apparel Manufacturing · 213 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 46 · Below median
Fair Value upside −23% · Below median
Return on assets -4% · Bottom 25%
Net margin (TTM) -22% · Bottom 25%
Operating margin (TTM) -21% · Bottom 25%
Revenue growth 9% · Above median
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/S (TTM) 0.01× · Cheaper than 75% of peers
PEG 0.19× · Cheaper than 75% of peers

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 3 · sector 32
FUTURE 43 · sector 5
PAST 0 · sector 21
HEALTH 93 · sector 98
DIVIDEND 0 · sector 55

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 174.25 kr 165.47 -5%
LPP SA LPP 22,220 PLN 17,754 PLN -20%
Bosideng International Holdings 3998 HK$4.65 HK$5.92 +27%
Youngor Fashion Co 600177 ¥7.78 ¥5.59 -28%
Page Industries Limited PAGEIND ₹38,295 ₹12,395 -68%
Hla Group 600398 ¥6.07 ¥9.92 +63%
Youngone Corporation 111770 85,200 KRW 188,736 KRW +122%
F&F Co 383220 68,800 KRW 179,500 KRW +161%
Youngone Holdings 009970 188,300 KRW 697,038 KRW +270%
Wiselink Co 8932 105.00 TWD 37.95 TWD -64%

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Frequently asked questions

Is Embry Holdings (1388) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1991 versus a price of HK$0.2600, about −23% (overvalued).
What is the fair value of 1388?
Our model-based fair value for Embry Holdings is HK$0.1991 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.2600.
What is the quality score of 1388?
Embry Holdings has a Quality Score of 47/100. 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 Embry Holdings (1388)?
Embry Holdings reported trailing-twelve-month revenue of about HK$1.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1388?
The net profit margin of Embry Holdings is about -21.6%, meaning it is currently running at a net loss. 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.

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