1896 (1896) Fair Value & Analysis

Communication Services · Market cap HK$5.1B

1 1896 1896 · HK

PriceHK$4.56

Fair ValueHK$12.15

Upside+166.4%

Quality60/100

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Evidence: High Range HK$9.55 – HK$14.73

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −15.7% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$4.46 – HK$8.17 · fair‑value band HK$9.55 – HK$14.73 · the HK$4.56 price screens below the HK$12.15 fair value. As of Jul 2, 2026.

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Analysis

1896 (1896) currently trades at HK$4.56, while our model-based Fair Value estimate is HK$12.15 — implying the stock looks roughly 166.4% undervalued today. We read business quality at 60/100 (solid quality), in the Communication Services 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, 1896 generated revenue of HK$4.6B at a net margin of 12.2%. Revenue grew 13.0% year over year. It earns a return on equity of 6.1%. The balance sheet holds a net cash position of HK$2.1B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$4.6B

Revenue growth (YoY) +13.0%

Net margin 12.2%

Return on equity 6.1%

Free cash flow HK$1.2B FY2025

P/E ratio 8.0

More key figures

Operating margin 21.6%

EPS (TTM) HK$0.1600

Dividend yield 4.4%

EPS growth (YoY) -37.1%

Net cash HK$2.1B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1896 reported revenue of HK$4.6B in FY2025 versus HK$3.3B in FY2021, a compound +8.7%/yr. Reported net income was HK$564M in FY2025, compounding +11.2%/yr from FY2021.

Revenue +8.7%/yr

FY21 HK$3.3B

FY22 HK$2.3B

FY23 HK$4.8B

FY24 HK$4.1B

FY25 HK$4.6B

Net income +11.2%/yr

FY21 HK$369M

FY22 HK$105M

FY23 HK$910M

FY24 HK$182M

FY25 HK$564M

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Frequently asked questions

Is 1896 (1896) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$12.15 versus a price of HK$4.56 — about +166% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 1896?

Our model-based fair value for 1896 is HK$12.15 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$4.56.

What is the quality score of 1896?

1896 has a Quality Score of 60/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1896 (1896)?

1896 reported trailing-twelve-month revenue of about HK$4.6B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1896?

The net profit margin of 1896 is about 12.2%, meaning it keeps roughly 12.2% of revenue as net income. Based on the latest reported figures.

Does 1896 pay a dividend?

1896 currently shows a dividend yield of about 4.44% 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.