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Kwungs Holdings Ltd (1925) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$498M

KH Kwungs Holdings Ltd 1925 · HK
PriceHK$1.28
Fair ValueHK$1.79
Upside+40.4%
Quality42/100
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Expensive Growth
Thin margins · 4.1% net margin
Low debt · negative free cash flow
Mixed vs. peers (6/12)
Narrow moat 28/100
Evidence: High Range HK$1.62 – HK$2.33 Share as image

Fair value as of: Aug 13, 2026

From 17 valuation models · updated 3 days ago

Share price −1.9% over the past month.

Below-average quality, screening 40% undervalued on our models.

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What matters now

  • The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (HK$1.62). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

HK$1.52 HK$0.8828 Fair Value HK$1.79 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.8828 – HK$1.52 · fair‑value band HK$1.62 – HK$2.33 · the HK$1.28 price screens below the HK$1.79 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kwungs Holdings Ltd (1925) currently trades at HK$1.28, while our model-based Fair Value estimate is HK$1.79, implying the stock looks roughly 40.4% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Consumer Defensive 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, Kwungs Holdings Ltd generated revenue of HK$882M at a net margin of 4.1%. Revenue declined 21.2% year over year. It earns a return on equity of 6.6%. The balance sheet holds a net cash position of HK$102M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.62 (bear case) to HK$2.33 (bull case); at HK$1.28, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -38% fair-value upside, at 40%, 1925 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Residual Income HK$1.02 HK$1.05 HK$1.02 76
ROIC Compounder HK$2.15 HK$2.24 HK$2.32 72
Gordon GGM HK$0.3400 HK$0.6100 HK$0.8400 70
All 17 models by family
DCF Models
Owner Earnings HK$1.80 HK$2.00 HK$2.29 31
Earnings-Based
Graham-Dodd HK$0.6000 HK$2.50 HK$3.40 54
Lynch FV HK$0.6300 HK$0.9000 HK$1.17 50
PEG = 1.0 HK$0.6300 HK$0.9000 HK$1.17 46
EPV HK$2.15 HK$2.24 HK$2.32 59
Dividend Discount
Gordon GGM HK$0.3400 HK$0.6100 HK$0.8400 70
DDM Multi-Stage HK$0.3400 HK$0.5600 HK$0.6500 61
Multiples
P/E Multiple HK$1.40 HK$1.86 HK$2.33 63
P/S Multiple HK$1.13 HK$1.51 HK$1.88 58
P/B Multiple HK$1.13 HK$1.51 HK$1.88 55
EV/EBIT HK$2.79 HK$3.23 HK$3.68 53
EV/EBITDA HK$3.34 HK$3.96 HK$4.59 54
EV/Revenue HK$2.41 HK$2.82 HK$3.22 43
Asset-Based
NCAV (Graham) HK$0.6800 HK$0.9100 HK$1.35 50
Economic Profit
Residual Income HK$1.02 HK$1.05 HK$1.02 76
ROIC Compounder HK$2.15 HK$2.24 HK$2.32 72
Growth Earnings
Growth-Adj P/E HK$1.08 HK$1.54 HK$2.01 68

Widest divergence: DCF Models (HK$2.00) versus Dividend Discount (HK$0.5600). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$882M
Revenue growth (YoY) -21.2%
Net margin 4.1%
Return on equity 6.6%
Free cash flow −HK$1.2M FY2025
P/E ratio 12.3 as of Jul 2, 2026
More key figures
Operating margin 4.3%
EPS (TTM) HK$0.0600
EPS growth (YoY) -80.3%
Net cash HK$102M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 44 · Market factors (momentum, volatility) 62

Profitability 35
Margins and returns on capital today
Quality Growth 9
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Kwung's Aroma Holdings Limited, an investment holding company, engages in the design, manufacture, and sale of home decoration and fragrance products in the People's Republic of China and internationally. It offers home fragrance candles and fragrance diffusers; and wax, metal, glass, and aromatherapy products.

Full company description

Kwung's Aroma Holdings Limited, an investment holding company, engages in the design, manufacture, and sale of home decoration and fragrance products in the People's Republic of China and internationally. It offers home fragrance candles and fragrance diffusers; and wax, metal, glass, and aromatherapy products. The company also engages in the wholesale and retail of household items and handicrafts; and import and export of self-employed or agent goods and technologies. In addition, it provides aromatic wellness brand products; and involved in the group retail brand product showroom planning activities. The company was formerly known as Kwung's Holdings Limited and changed its name to Kwung's Aroma Holdings Limited in July 2024. Kwung's Aroma Holdings Limited was founded in 1994 and is headquartered in Ningbo, the People's Republic of China. Kwung's Aroma Holdings Limited operates as a subsidiary of Golden Element Investment Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kwungs Holdings Ltd reported revenue of HK$882M in FY2025 versus HK$631M in FY2021, a compound +8.7%/yr. Reported net income was HK$35.9M in FY2025, compounding −7.5%/yr from FY2021.

Growth Quality 51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$882M
Latest YoY
−11.9%
Avg. growth/yr (3Y) 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.
+7.1%
Avg. growth/yr (5Y) 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.
+13.3%
Avg. growth/yr (12Y) 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.
+8.1%
Revenue +8.7%/yr
FY21 HK$631M
FY22 HK$719M
FY23 HK$807M
FY24 HK$1.0B
FY25 HK$882M
Net income −7.5%/yr
FY21 HK$49.0M
FY22 HK$52.6M
FY23 HK$60.6M
FY24 HK$119M
FY25 HK$35.9M

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Cite: Fair Value Calculator (2026). "Kwungs Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1925

Peer Group

Household & Personal Products · 252 stocks

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.

Quality Score 42 · Bottom 25%
Fair Value upside +40% · Top 25%
Return on equity (TTM) 7% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth -21% · Bottom 25%
Dividend yield (TTM) 3.5% · Above median

Valuation Multiples vs Household & Personal Products median · lower = cheaper

P/E (TTM) 12.3× · Cheaper than median
P/B 0.91× · Cheaper than median
P/S (TTM) 0.57× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 87 · sector 29
FUTURE 0 · sector 4
PAST 27 · sector 27
HEALTH 100 · sector 98
DIVIDEND 71 · sector 52

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $144.26 $108.16 -25%
Unilever PLC ULN 1,080 MXN 973.58 MXN -10%
Hindustan Unilever Limited HINDUNILVR ₹2,063 ₹789.46 -62%
Essity AB ESSITYA kr 276.50 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹936.90 ₹367.64 -61%
Marico Limited MARICO ₹855.00 ₹233.05 -73%
APR Co 278470 397,000 KRW 137,521 KRW -65%
Dabur India Limited DABUR ₹411.25 ₹175.59 -57%
PT Unilever Indonesia Tbk UNVR 1,760 IDR 1,928 IDR +10%
Amorepacific Corporation 090430 135,700 KRW 84,785 KRW -38%

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Frequently asked questions

Is Kwungs Holdings Ltd (1925) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.79 versus a price of HK$1.28, about +40% (undervalued).
What is the fair value of 1925?
Our model-based fair value for Kwungs Holdings Ltd is HK$1.79 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.28.
What is the quality score of 1925?
Kwungs Holdings Ltd has a Quality Score of 42/100. 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 revenue of Kwungs Holdings Ltd (1925)?
Kwungs Holdings Ltd reported trailing-twelve-month revenue of about HK$882M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1925?
The net profit margin of Kwungs Holdings Ltd is about 4.1%, meaning it keeps roughly 4.1% 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.

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