1846 (1846) Fair Value & Analysis

Healthcare · Market cap HK$780M

1 1846 1846 · HK

PriceHK$2.44

Fair ValueHK$3.75

Upside+53.7%

Quality58/100

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Evidence: High Range HK$2.81 – HK$4.69

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −5.1% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$2.31 – HK$3.39 · fair‑value band HK$2.81 – HK$4.69 · the HK$2.44 price screens below the HK$3.75 fair value. As of Jul 2, 2026.

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Analysis

1846 (1846) currently trades at HK$2.44, while our model-based Fair Value estimate is HK$3.75 — implying the stock looks roughly 53.7% undervalued today. We read business quality at 58/100 (solid quality), in the Healthcare 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, 1846 generated revenue of HK$796M at a net margin of 6.8%. Revenue grew 20.6% year over year. It earns a return on equity of 4.7%. The balance sheet holds a net cash position of HK$287M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$796M

Revenue growth (YoY) +20.6%

Net margin 6.8%

Return on equity 4.7%

Free cash flow HK$148M FY2025

P/E ratio 14.4

More key figures

Operating margin 11.7%

EPS (TTM) HK$0.1200

Dividend yield 1.9%

EPS growth (YoY) -56.7%

Net cash HK$287M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1846 reported revenue of HK$796M in FY2025 versus HK$633M in FY2021, a compound +5.9%/yr. Reported net income was HK$54.5M in FY2025, compounding −20.1%/yr from FY2021.

Revenue +5.9%/yr

FY21 HK$633M

FY22 HK$610M

FY23 HK$714M

FY24 HK$716M

FY25 HK$796M

Net income −20.1%/yr

FY21 HK$134M

FY22 HK$89.5M

FY23 HK$131M

FY24 HK$82.3M

FY25 HK$54.5M

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Similar stocks

6 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
HCA Healthcare, Inc H1CA34	R$97.60	R$115.75	+19%
Fresenius SE FSNUY	$11.47	$8.55	-25%
5225 5225	8.71 MYR	4.87 MYR	-44%
IHHHF IHHHF	$1.71	$1.17	-32%
Tenet Healthcare Corporation THC	$164.77	$280.85	+70%
Rede D'Or São Luiz S.A RDOR3	R$32.50	R$46.04	+42%

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Frequently asked questions

Is 1846 (1846) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$3.75 versus a price of HK$2.44 — about +54% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 1846?

Our model-based fair value for 1846 is HK$3.75 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.44.

What is the quality score of 1846?

1846 has a Quality Score of 58/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1846 (1846)?

1846 reported trailing-twelve-month revenue of about HK$796M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1846?

The net profit margin of 1846 is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.

Does 1846 pay a dividend?

1846 currently shows a dividend yield of about 1.87% 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.