1909 (1909) Fair Value & Analysis

Communication Services · Market cap HK$430M

1 1909 1909 · HK

PriceHK$1.77

Fair ValueHK$0.7600

Upside-57.1%

Quality47/100

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Evidence: Low Range HK$0.6900 – HK$0.8400

Fair value as of: Jul 2, 2026

From 6 valuation models · updated today

Share price −9.2% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.48 – HK$3.16 · fair‑value band HK$0.6900 – HK$0.8400 · the HK$1.77 price screens above the HK$0.7600 fair value. As of Jul 2, 2026.

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Analysis

1909 (1909) currently trades at HK$1.77, while our model-based Fair Value estimate is HK$0.7600 — implying the stock looks roughly 57.1% overvalued today. We read business quality at 47/100 (below-average 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: low).

Over the trailing twelve months, 1909 generated revenue of HK$146M at a net margin of -44.1%. Revenue declined 5.6% year over year. It earns a return on equity of -34.9%. The balance sheet holds a net cash position of HK$109M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$146M

Revenue growth (YoY) -5.6%

Net margin -44.1%

Return on equity -34.9%

Free cash flow −HK$3.0M FY2025

Operating margin -10.4%

More key figures

EPS (TTM) HK$-0.1000

EPS growth (YoY) -98.8%

Net cash HK$109M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

1909 reported revenue of HK$146M in FY2025 versus HK$1.0B in FY2021, a compound −38.7%/yr. Reported net income was −HK$64.4M in FY2025.

Revenue −38.7%/yr

FY21 HK$1.0B

FY22 HK$115M

FY23 HK$135M

FY24 HK$141M

FY25 HK$146M

Net income

FY21 −HK$1.2B

FY22 HK$30.2M

FY23 HK$560M

FY24 −HK$17.1M

FY25 −HK$64.4M

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6 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

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Frequently asked questions

Is 1909 (1909) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.7600 versus a price of HK$1.77 — about −57% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 1909?

Our model-based fair value for 1909 is HK$0.7600 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$1.77.

What is the quality score of 1909?

1909 has a Quality Score of 47/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 1909 (1909)?

1909 reported trailing-twelve-month revenue of about HK$146M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 1909?

The net profit margin of 1909 is about -44.1%, meaning it is currently running at a net loss. 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.