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APlus Group Holdings Ltd (1841) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of APlus Group Holdings Ltd HK$0.27, price HK$0.49, upside -44.3%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Industrials · HK · ISIN KYG0411B1014

AG Thin data Sep 27, 2026

APlus Group Holdings Ltd

1841 · HK

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value HK$0.2700 · Strongly overvalued (−44.3%)
!Quality 55/100
!Weak Growth (revenue 5y −7.8 %/yr)
!Loss-making · -4.4% net margin (TTM)
!negative free cash flow
!Mixed vs. peers (4/9)
!Narrow moat 19/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$0.5369 HK$0.1500 Fair Value HK$0.2700 May 2021 Sep 2026

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$0.1500 – HK$0.5369 · fair‑value band HK$0.2500 – HK$0.2900 · the HK$0.4850 price screens above the HK$0.2700 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

A.Plus Group Holdings Limited, an investment holding company, engages in the provision of financial printing services in Hong Kong. The company primarily offers typesetting, design, translation, printing, and delivery services related to financial reports, announcements, shareholder circulars, debt offering circulars, IPO prospectuses, and fund documents.

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A.Plus Group Holdings Limited, an investment holding company, engages in the provision of financial printing services in Hong Kong. The company primarily offers typesetting, design, translation, printing, and delivery services related to financial reports, announcements, shareholder circulars, debt offering circulars, IPO prospectuses, and fund documents. It also provides other services, such as designing, production, and standalone translations of various types of reports, newsletters, leaflets, brochures, etc. The company offers its products under the A.Plus brand name. A.Plus Group Holdings Limited was founded in 2002 and is headquartered in Sheung Wan, Hong Kong.

Stock analysis

APlus Group Holdings Ltd (1841) currently trades at HK$0.4850, while our model-based Fair Value estimate is HK$0.2700, 44.3% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: HK$0.2500 (bear) to HK$0.2900 (bull), the price of HK$0.4850 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 55/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

APlus Group Holdings Ltd reported revenue of HK$97.8M in FY2025 versus HK$134M in FY2021, a compound −7.6%/yr. Reported net income was −HK$1.6M in FY2025.

Key figures

Market cap HK$94.0M (≈ $12.0M) · P/S ratio 0.98 · EPS (TTM) HK$−0.0100 · Net margin −1.6% · Return on equity −3.6% · Return on assets (EBIT) 8.3% · Operating margin 13.0% · Revenue (TTM) HK$95.8M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 2% below its 52-week high and 129% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 1% fair-value upside, at −44%, 1841 screens richer than that median.

Fair Value models

Bear HK$0.2500 Fair Value HK$0.2700 Bull HK$0.2900
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.
Highest evidence
EV/EBITDA HK$0.2500 HK$0.2700 HK$0.2900 64
NCAV (Graham) HK$0.1300 HK$0.1800 HK$0.2700 51
All 2 models by family
Multiples
EV/EBITDA HK$0.2500 HK$0.2700 HK$0.2900 64
Asset-Based
NCAV (Graham) HK$0.1300 HK$0.1800 HK$0.2700 51

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Quality Score breakdown

Overall quality 55/100

Of which business quality 57 · Market factors (momentum, volatility) 85

Profitability 29
Margins and returns on capital today
Quality Growth 5
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−21.8%
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.
−8.5%
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.
−7.8%
Start year 2020 (pandemic). Over 10 years: +1.8% a year
Revenue growth 11 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.
+3.7%
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.
18.7% (2020) → −2.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

1841 screens overvalued: fair value 44% below the price. Compare with Cintas Corporation →

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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.Specialty Business Services · 238 stocks

Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 57 · Above median
Fair Value upside −44.3% · Bottom 25%
Profitability
Return on assets −2.0% · Bottom 25%
Net margin (TTM) −4.4% · Bottom 25%
Operating margin (TTM) 13.0% · Above median
Growth and dividend
Revenue growth −3.2% · Bottom 25%

Valuation Multiplesvs Specialty Business Services median · lower = cheaper

P/B 0.11× · Cheapest 25%
P/S (TTM) 0.13× · Cheapest 25%

Context: sector, industry, market

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

Similar stocks

10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $197.74 $188.06 −5%
Thomson Reuters Corporation TRI $98.99 $70.79 −28%
Copart, Inc CPRT $27.14 $31.02 +14%
Global Payments Inc GPN $83.33 $88.43 +6%
Wolters Kluwer N.V WKL €68.66 €98.05 +43%
Brambles Limited BXB A$18.55 A$18.66 +1%
RB Global, Inc RBA C$116.74 C$128.41 +10%
Aramark ARMK $54.92 $23.06 −58%
UL Solutions Inc ULS $66.05 $33.46 −49%
Rentokil Initial plc RTO $20.64 $19.63 −5%

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APlus Group Holdings Ltd · Fair Value
HK$0.2700 −44%Fair Value
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Cite: Fair Value Calculator (2026). "APlus Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1841

Frequently asked questions

Is APlus Group Holdings Ltd (1841) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.2700 versus a price of HK$0.4850, about −44% upside (overvalued).
What is the fair value of 1841?
Our model-based fair value for APlus Group Holdings Ltd is HK$0.2700 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.4850.
What is the quality score of 1841?
APlus Group Holdings Ltd has a Quality Score of 55/100. 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 APlus Group Holdings Ltd (1841)?
Our model-based price target is the fair value of HK$0.2700 (as of Sep 27, 2026) from 2 valuation models. Cautious scenario HK$0.2500, optimistic scenario HK$0.2900. It is a calculation from audited fundamentals, not an analyst target.
What is the APlus Group Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.2700, about −44% upside versus a price of HK$0.4850 (overvalued). Cautious scenario HK$0.2500, optimistic scenario HK$0.2900. The calculation is refreshed regularly with new filings.
What is the revenue of APlus Group Holdings Ltd (1841)?
APlus Group Holdings Ltd reported trailing-twelve-month revenue of about HK$95.8M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of APlus Group Holdings Ltd (1841)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For APlus Group Holdings Ltd it is HK$0.2700 per share (as of Sep 27, 2026), against a price of HK$0.4850. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is APlus Group Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 1841 trades above its calculated fair value: price HK$0.4850, fair value HK$0.2700, a gap of about −44% (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 1841?
No. The price is what the market pays today (HK$0.4850); the fair value is what the company's own numbers justify (HK$0.2700). For APlus Group Holdings Ltd the two are HK$0.2150 per share apart. That gap is exactly why we show both numbers side by side.
How much is APlus Group Holdings Ltd worth?
The market values APlus Group Holdings Ltd at about HK$94.0M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.4850; our models calculate a fair value of HK$0.2700 per share.
What do the bullish and bearish scenarios say about 1841?
Our models span a range for APlus Group Holdings Ltd: cautious scenario HK$0.2500, base HK$0.2700, optimistic HK$0.2900 per share (as of Sep 27, 2026, price HK$0.4850). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of APlus Group Holdings Ltd (1841)?
Balance-sheet figures for APlus Group Holdings Ltd (as of Sep 27, 2026): return on equity −3.6%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 1841 from its 52-week high?
APlus Group Holdings Ltd trades at HK$0.4850, about 2% below its 52-week high of HK$0.4950 and 129% above the low of HK$0.2120 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2700 is for.
Which stocks are comparable to APlus Group Holdings Ltd?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments Inc, 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 APlus Group Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.4850, calculated fair value HK$0.2700 (−44%), Quality Score 55/100, from 2 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 1841 calculated?
We run APlus Group Holdings Ltd through 2 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$0.2700, 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. APlus Group Holdings 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 APlus Group Holdings Ltd (1841)?
The closing price on Sep 30, 2026 was HK$0.4850. Our model-based fair value is HK$0.2700, about −44% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with APlus Group Holdings Ltd right now?
The price sits above even our optimistic bull case (HK$0.2900). 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 (55/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of APlus Group Holdings Ltd (1841) come from?
Earnings per share at APlus Group Holdings Ltd grew −4.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.3 %, EBIT margin −6.7 %, tax rate +1.0 %, residual (interest, one-offs) +1.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of APlus Group Holdings Ltd

How large is the market capitalisation of APlus Group Holdings Ltd (1841)?
The market capitalisation of APlus Group Holdings Ltd is HK$94.0M (≈ $12.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of APlus Group Holdings Ltd (1841)?
The price-to-sales ratio of APlus Group Holdings Ltd is 0.98 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of APlus Group Holdings Ltd (1841)?
Earnings per share at APlus Group Holdings Ltd are HK$−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of APlus Group Holdings Ltd (1841)?
The net margin of APlus Group Holdings Ltd is −1.6% (fiscal year 2025). 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 APlus Group Holdings Ltd (1841)?
The return on equity (ROE) of APlus Group Holdings Ltd is −3.6% (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 APlus Group Holdings Ltd (1841)?
On an EBIT basis the return on assets of APlus Group Holdings Ltd is 8.3% (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 APlus Group Holdings Ltd (1841)?
The operating margin of APlus Group Holdings Ltd is 13.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at APlus Group Holdings Ltd (1841)?
Revenue at APlus Group Holdings Ltd is growing −3.2% versus a year earlier (3y avg −8.5%). 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 APlus Group Holdings Ltd (1841)?
Earnings per share at APlus Group Holdings Ltd are growing −25.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does APlus Group Holdings Ltd (1841) generate?
The free cash flow of APlus Group Holdings Ltd is −HK$1.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does APlus Group Holdings Ltd (1841) hold?
APlus Group Holdings Ltd holds more cash than debt, HK$73.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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