1686 (1686) Fair Value & Analysis

Real Estate · Market cap HK$11.6B

1 1686 1686 · HK

PriceHK$4.84

Fair ValueHK$4.76

Upside-1.7%

Quality44/100

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Evidence: High Range HK$2.33 – HK$7.70

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −24.5% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$4.35 – HK$8.16 · fair‑value band HK$2.33 – HK$7.70 · the HK$4.84 price screens above the HK$4.76 fair value. As of Jul 2, 2026.

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Analysis

1686 (1686) currently trades at HK$4.84, while our model-based Fair Value estimate is HK$4.76 — implying the stock looks roughly 1.7% overvalued today. We read business quality at 44/100 (below-average quality), in the Real Estate 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, 1686 generated revenue of HK$3.0B at a net margin of 34.5%. Revenue grew 2.6% year over year. It earns a return on equity of 18.7%. Net debt stands at HK$16.6B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$3.0B

Revenue growth (YoY) +2.6%

Net margin 34.5%

Return on equity 18.7%

Free cash flow HK$678M FY2025

P/E ratio 19.6

More key figures

Operating margin 50.5%

EPS (TTM) HK$0.1200

Dividend yield 2.8%

EPS growth (YoY) +9.1%

Net debt HK$16.6B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1686 reported revenue of HK$2.9B in FY2025 versus HK$1.9B in FY2021, a compound +11.9%/yr. Reported net income was HK$979M in FY2025, compounding +5.6%/yr from FY2021.

Revenue +11.9%/yr

FY21 HK$1.9B

FY22 HK$2.1B

FY23 HK$2.3B

FY24 HK$2.7B

FY25 HK$2.9B

Net income +5.6%/yr

FY21 HK$788M

FY22 HK$847M

FY23 HK$905M

FY24 HK$907M

FY25 HK$979M

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Similar stocks

6 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Vingroup Joint Stock Company VIC	219,800 VND	33,299 VND	-85%
CBRE Group CBRE	$127.86	$81.43	-36%
2423 2423	HK$38.90	HK$17.91	-54%
1972 1972	HK$20.40	HK$18.75	-8%
1209 1209	HK$36.68	HK$34.70	-5%
Plaza S.A MALLPLAZA	3,800 CLP	5,905 CLP	+55%

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Frequently asked questions

Is 1686 (1686) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$4.76 versus a price of HK$4.84 — about −2% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 1686?

Our model-based fair value for 1686 is HK$4.76 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$4.84.

What is the quality score of 1686?

1686 has a Quality Score of 44/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1686 (1686)?

1686 reported trailing-twelve-month revenue of about HK$3.0B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1686?

The net profit margin of 1686 is about 34.5%, meaning it keeps roughly 34.5% of revenue as net income. Based on the latest reported figures.

Does 1686 pay a dividend?

1686 currently shows a dividend yield of about 2.76% relative to its recent price (as of Jul 2, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.