1860 (1860) Fair Value & Analysis

Communication Services · Market cap HK$17.7B

1 1860 1860 · HK

PriceHK$10.86

Fair ValueHK$6.43

Upside-40.8%

Quality68/100

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Evidence: High Range HK$4.86 – HK$16.08

Fair value as of: Jul 2, 2026

From 24 valuation models · updated today

Share price −27.2% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$6.69 – HK$20.98 · fair‑value band HK$4.86 – HK$16.08 · the HK$10.86 price screens above the HK$6.43 fair value. As of Jul 2, 2026.

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Analysis

1860 (1860) currently trades at HK$10.86, while our model-based Fair Value estimate is HK$6.43 — implying the stock looks roughly 40.8% overvalued today. We read business quality at 68/100 (solid quality), in the Communication Services 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, 1860 generated revenue of HK$2.2B at a net margin of 3.4%. Revenue grew 32.2% year over year. It earns a return on equity of 26.1%. The balance sheet holds a net cash position of HK$106M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$2.2B

Revenue growth (YoY) +32.2%

Net margin 3.4%

Return on equity 26.1%

Free cash flow HK$160M FY2025

P/E ratio 34.7

More key figures

Operating margin 3.9%

EPS (TTM) HK$0.6231

EPS growth (YoY) +60.9%

Net cash HK$106M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1860 reported revenue of HK$2.0B in FY2025 versus HK$755M in FY2021, a compound +28.3%/yr. Reported net income was HK$61.7M in FY2025.

Revenue +28.3%/yr

FY21 HK$755M

FY22 HK$894M

FY23 HK$1.1B

FY24 HK$1.5B

FY25 HK$2.0B

Net income

FY21 −HK$25.0M

FY22 HK$15.0M

FY23 HK$21.8M

FY24 HK$15.7M

FY25 HK$61.7M

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

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AppLovin Corporation APP	$558.87	$316.44	-43%
Publicis Groupe S.A PGPEF	$103.00	$166.23	+61%
Omnicom Group OMC	$73.98	$123.58	+67%
Focus Media Information Technology Co 002027	¥5.06	¥4.08	-19%
The Trade Desk, Inc TT8	€18.62	€19.59	+5%
BlueFocus Intelligent Communications Group 300058	¥16.02	¥2.28	-86%

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Frequently asked questions

Is 1860 (1860) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$6.43 versus a price of HK$10.86 — about −41% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 1860?

Our model-based fair value for 1860 is HK$6.43 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$10.86.

What is the quality score of 1860?

1860 has a Quality Score of 68/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1860 (1860)?

1860 reported trailing-twelve-month revenue of about HK$2.2B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1860?

The net profit margin of 1860 is about 3.4%, meaning it keeps roughly 3.4% 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.

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