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C Cheng Holdings Ltd (1486) Fair Value & Analysis

Industrials · HK · Market cap HK$264M

CC C Cheng Holdings Ltd 1486 · HK
PriceHK$0.4250
Fair ValueHK$0.8840
Upside+108.0%
Quality46/100
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Weak Growth
Thin margins · 7.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/12)
Narrow moat 18/100
Evidence: High Range HK$0.6630 – HK$1.04 Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 3 days ago

Share price +16.4% over the past month.

Below-average quality, screening 108% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$0.6630). The market is more pessimistic than our downside scenario.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$1.14 HK$0.1760 Fair Value HK$0.8840 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$0.1760 – HK$1.14 · fair‑value band HK$0.6630 – HK$1.04 · the HK$0.4250 price screens below the HK$0.8840 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

C Cheng Holdings Ltd (1486) currently trades at HK$0.4250, while our model-based Fair Value estimate is HK$0.8840, implying the stock looks roughly 108.0% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, C Cheng Holdings Ltd generated revenue of HK$365M at a net margin of 7.3%. Revenue declined 6.3% year over year. It earns a return on equity of 6.4%. The balance sheet holds a net cash position of HK$17.2M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.6630 (bear case) to HK$1.04 (bull case); at HK$0.4250, the current price sits below 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 51% below its 52-week high and 185% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at 108%, 1486 screens cheaper 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$0.8300 HK$0.9600 HK$1.16 80
Residual Income HK$0.7200 HK$0.7200 HK$0.6300 76
Rev-Margin DCF HK$0.8600 HK$1.14 HK$1.48 74
All 16 models by family
DCF Models
FCF DCF HK$0.8200 HK$0.9600 HK$1.19 38
Owner Earnings HK$0.9400 HK$1.12 HK$1.40 31
5Y Revenue Exit HK$0.8600 HK$1.12 HK$1.50 39
5Y P/E Exit HK$0.9600 HK$1.29 HK$1.69 38
10Y Revenue Exit HK$0.8200 HK$0.9900 HK$1.17 36
10Y P/E Exit HK$0.8900 HK$1.08 HK$1.27 35
Earnings-Based
Graham-Dodd HK$0.4200 HK$0.5100 HK$0.5700 54
Multiples
P/E Multiple HK$0.9600 HK$1.28 HK$1.60 63
P/S Multiple HK$0.7800 HK$1.04 HK$1.30 58
P/B Multiple HK$0.7800 HK$1.04 HK$1.30 55
EV/Revenue HK$0.9600 HK$1.26 HK$1.55 43
Asset-Based
NCAV (Graham) HK$0.5100 HK$0.6800 HK$1.02 50
Growth DCF
Growth DCF HK$0.8300 HK$0.9600 HK$1.16 80
Rev-Margin DCF HK$0.8600 HK$1.14 HK$1.48 74
Economic Profit
Residual Income HK$0.7200 HK$0.7200 HK$0.6300 76
Growth Earnings
Growth-Adj P/E HK$0.6800 HK$0.9700 HK$1.26 68

Widest divergence: DCF Models (HK$1.08) versus Earnings-Based (HK$0.5100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$365M
Revenue growth (YoY) -6.3%
Net margin 7.3%
Return on equity 6.4%
Free cash flow HK$32.9M FY2025
P/E ratio 8.7 as of Jul 2, 2026
More key figures
Operating margin -19.9%
EPS (TTM) HK$0.1400
EPS growth (YoY) -84.2%
Net cash HK$17.2M FY2025

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

Quality Score breakdown

Overall quality 46/100

Of which business quality 49 · Market factors (momentum, volatility) 48

Profitability 31
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 0
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

C Cheng Holdings Limited, an investment holding company, provides architectural services in Mainland China, Hong Kong, the Middle East and North Africa, Macau, and internationally. The company's services include architectural, landscape architectural, town planning, interior design, and heritage conservation services.

Full company description

C Cheng Holdings Limited, an investment holding company, provides architectural services in Mainland China, Hong Kong, the Middle East and North Africa, Macau, and internationally. The company's services include architectural, landscape architectural, town planning, interior design, and heritage conservation services. It also offers corporate management services. C Cheng Holdings Limited was founded in 1985 and is headquartered in Tsim Sha Tsui, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

C Cheng Holdings Ltd reported revenue of HK$365M in FY2025 versus HK$862M in FY2021, a compound −19.4%/yr. Reported net income was HK$26.4M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$365M
Latest YoY
−9.2%
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.
−11.9%
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.
−12.7%
Avg. growth/yr (14Y) 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.
+4.4%
Revenue −19.4%/yr
FY21 HK$862M
FY22 HK$534M
FY23 HK$454M
FY24 HK$401M
FY25 HK$365M
Net income
FY21 −HK$1.1M
FY22 −HK$18.8M
FY23 −HK$21.2M
FY24 −HK$14.9M
FY25 HK$26.4M

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Cite: Fair Value Calculator (2026). "C Cheng Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1486

Peer Group

Engineering & Construction · 837 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 +108% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets -3% · Bottom 25%
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) -20% · Bottom 25%
Revenue growth -6% · Below median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 8.7× · Cheaper than 75% of peers
P/B 0.60× · Cheaper than median
P/S (TTM) 0.72× · Pricier than median
P/FCF 1.0× · Cheaper 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 100 · sector 14
FUTURE 0 · sector 15
PAST 26 · sector 26
HEALTH 100 · sector 94
DIVIDEND 0 · sector 43

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 46,350 KRW 43,924 KRW -5%

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Frequently asked questions

Is C Cheng Holdings Ltd (1486) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.8840 versus a price of HK$0.4250, about +108% (undervalued).
What is the fair value of 1486?
Our model-based fair value for C Cheng Holdings Ltd is HK$0.8840 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.4250.
What is the quality score of 1486?
C Cheng Holdings Ltd has a Quality Score of 46/100. 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 C Cheng Holdings Ltd (1486)?
C Cheng Holdings Ltd reported trailing-twelve-month revenue of about HK$365M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1486?
The net profit margin of C Cheng Holdings Ltd is about 7.3%, meaning it keeps roughly 7.3% 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.

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