Thelloy Development Group Ltd (1546) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Thelloy Development Group Ltd HK$0.07, price HK$0.15, upside -53.0%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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$0.0470 – HK$0.3850 · fair‑value band HK$0.0500 – HK$0.1100 · the HK$0.1490 price screens above the HK$0.0700 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Thelloy Development Group Limited, an investment holding company, provides property construction services primarily in Hong Kong. The company offers building construction services; repair, maintenance, alteration, and addition work services; and design and build services, as well as invests in properties.
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Thelloy Development Group Limited, an investment holding company, provides property construction services primarily in Hong Kong. The company offers building construction services; repair, maintenance, alteration, and addition work services; and design and build services, as well as invests in properties. It serves government, quasi-government organizations, universities, schools, institutions, and incorporated owners of private buildings. The company was incorporated in 2015 and is headquartered in Lai Chi Kok, Hong Kong. Thelloy Development Group Limited is a former subsidiary of Cheers Mate Holding Limited.
Stock analysis
Thelloy Development Group Ltd (1546) currently trades at HK$0.1490, while our model-based Fair Value estimate is HK$0.0700, 53.0% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the evidence level at low.
Scenario range: HK$0.0500 (bear) to HK$0.1100 (bull), the price of HK$0.1490 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 47/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Thelloy Development Group Ltd reported revenue of HK$470M in FY2026 versus HK$204M in FY2022, a compound +23.2%/yr. Reported net income was −HK$33.5M in FY2026.
Key figures
Market cap HK$119M (≈ $15.2M) · P/S ratio 0.21 · Net margin −7.1% · Return on equity −33.0% · Return on assets (EBIT) −1.6% · Operating margin −5.9% · Revenue (TTM) HK$470M · Revenue growth (YoY) −4.3%.
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 61% below its 52-week high and 157% 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 −53%, 1546 screens richer than that median.
Fair Value models
Bear HK$0.0500Fair Value HK$0.0700Bull HK$0.1100
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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+17.6%
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.
+22.0%
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.
+25.4%
Start year 2021 (pandemic). Over 10 years: +11.3% a year
Revenue growth 12 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.
+8.7%
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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.
−0.4% (2021) → −5.7% (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
Compare Thelloy Development Group Ltd with another stock
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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.Engineering & Construction · 798 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−53.0% · Bottom 25%
Profitability
Return on assets−3.8% · Bottom 25%
Net margin (TTM)−7.1% · Bottom 25%
Operating margin (TTM)−5.9% · Bottom 25%
Growth and dividend
Revenue growth−4.3% · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/B0.18× · Cheapest 25%
P/S (TTM)0.03× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)0· sector 13
PAST (return on equity)0· sector 28
HEALTH (low debt)100· sector 94
DIVIDEND (yield)0· sector 40
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.
Cite: Fair Value Calculator (2026). "Thelloy Development Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1546
Frequently asked questions
Is Thelloy Development Group Ltd (1546) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.0700 versus a price of HK$0.1490, about −53% upside (overvalued).
What is the fair value of 1546?
Our model-based fair value for Thelloy Development Group Ltd is HK$0.0700 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.1490.
What is the quality score of 1546?
Thelloy Development Group Ltd 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 price target for Thelloy Development Group Ltd (1546)?
Our model-based price target is the fair value of HK$0.0700 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario HK$0.0500, optimistic scenario HK$0.1100. It is a calculation from audited fundamentals, not an analyst target.
What is the Thelloy Development Group Ltd stock forecast for 2026?
Our models put fair value at HK$0.0700, about −53% upside versus a price of HK$0.1490 (overvalued). Cautious scenario HK$0.0500, optimistic scenario HK$0.1100. The calculation is refreshed regularly with new filings.
What is the revenue of Thelloy Development Group Ltd (1546)?
Thelloy Development Group Ltd reported trailing-twelve-month revenue of about HK$470M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Thelloy Development Group Ltd (1546)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Thelloy Development Group Ltd it is HK$0.0700 per share (as of Sep 27, 2026), against a price of HK$0.1490. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Thelloy Development Group Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 1546 trades above its calculated fair value: price HK$0.1490, fair value HK$0.0700, a gap of about −53% (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 1546?
No. The price is what the market pays today (HK$0.1490); the fair value is what the company's own numbers justify (HK$0.0700). For Thelloy Development Group Ltd the two are HK$0.0790 per share apart. That gap is exactly why we show both numbers side by side.
How much is Thelloy Development Group Ltd worth?
The market values Thelloy Development Group Ltd at about HK$119M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.1490; our models calculate a fair value of HK$0.0700 per share.
What do the bullish and bearish scenarios say about 1546?
Our models span a range for Thelloy Development Group Ltd: cautious scenario HK$0.0500, base HK$0.0700, optimistic HK$0.1100 per share (as of Sep 27, 2026, price HK$0.1490). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Thelloy Development Group Ltd (1546)?
Balance-sheet figures for Thelloy Development Group Ltd (as of Sep 27, 2026): return on equity −33.0%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 1546 from its 52-week high?
Thelloy Development Group Ltd trades at HK$0.1490, about 61% below its 52-week high of HK$0.3850 and 157% above the low of HK$0.0580 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.0700 is for.
Which stocks are comparable to Thelloy Development Group Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 Thelloy Development Group Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.1490, calculated fair value HK$0.0700 (−53%), Quality Score 47/100, from 1 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 1546 calculated?
We run Thelloy Development Group Ltd through 1 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$0.0700, 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 14.7 % above its aggregate fair value. Thelloy Development Group 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 Thelloy Development Group Ltd (1546)?
The closing price on Sep 30, 2026 was HK$0.1490. Our model-based fair value is HK$0.0700, about −53% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Thelloy Development Group Ltd right now?
The price sits above even our optimistic bull case (HK$0.1100). 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 (47/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (HK$0.0500 to HK$0.1100) leaves room in how you read the outcome.
Key figures of Thelloy Development Group Ltd
How large is the market capitalisation of Thelloy Development Group Ltd (1546)?
The market capitalisation of Thelloy Development Group Ltd is HK$119M (≈ $15.2M). 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 Thelloy Development Group Ltd (1546)?
The price-to-sales ratio of Thelloy Development Group Ltd is 0.21 (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 Thelloy Development Group Ltd (1546)?
The net margin of Thelloy Development Group Ltd is −7.1% (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 Thelloy Development Group Ltd (1546)?
The return on equity (ROE) of Thelloy Development Group Ltd is −33.0% (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 Thelloy Development Group Ltd (1546)?
On an EBIT basis the return on assets of Thelloy Development Group Ltd is −1.6% (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 Thelloy Development Group Ltd (1546)?
The operating margin of Thelloy Development Group Ltd is −5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Thelloy Development Group Ltd (1546)?
Revenue at Thelloy Development Group Ltd is growing −4.3% versus a year earlier (3y avg +22.0%). 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 Thelloy Development Group Ltd (1546)?
Earnings per share at Thelloy Development Group Ltd are growing −20.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Thelloy Development Group Ltd (1546) generate?
The free cash flow of Thelloy Development Group Ltd is −HK$50.8M (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 Thelloy Development Group Ltd (1546) carry?
The net debt of Thelloy Development Group Ltd is HK$112M (fiscal year 2026). 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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