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CPM Group Ltd (1932) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of CPM Group Ltd HK$0.24, price HK$0.18, upside +33.3%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Basic Materials · HK · ISIN KYG2R5391062

CG Thin data Sep 27, 2026

CPM Group Ltd

1932 · HK

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value HK$0.2400 · Undervalued (+33.3%)
!Quality 45/100
!Weak Growth (revenue 5y −19.5 %/yr)
!Loss-making · -19.1% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 8/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$0.4900 HK$0.1210 Fair Value HK$0.2400 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range HK$0.1210 – HK$0.4900 · fair‑value band HK$0.1800 – HK$0.3500 · the HK$0.1800 price screens below the HK$0.2400 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

CPM Group Limited, an investment holding company, manufactures and sells paint and coating products in Hong Kong and the Mainland China. It operates in two segments, Paint Products and Property Investment.

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CPM Group Limited, an investment holding company, manufactures and sells paint and coating products in Hong Kong and the Mainland China. It operates in two segments, Paint Products and Property Investment. The company offers industrial paint and coating products used in furniture painting, manufacturing and surface finishing for materials used by manufacturers, renovation contractors for property and infrastructure projects, and household users. It also provides architectural paint and coating products for walls, floors, and exterior parts of buildings in commercial and residential properties; and general paint and coating, and ancillary products, such as thinners, enamels, and anti-mold agents and solvent agents for architectural and industrial applications. In addition, the company invests in commercial and industrial properties. The company was founded in 1932 and is based in Wan Chai, Hong Kong. CPM Group Limited operates as a subsidiary of CNT Enterprises Limited.

Stock analysis

CPM Group Ltd (1932) currently trades at HK$0.1800, while our model-based Fair Value estimate is HK$0.2400, implying the stock looks roughly 25.0% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: HK$0.1800 (bear) to HK$0.3500 (bull), the price of HK$0.1800 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 45/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

CPM Group Ltd reported revenue of HK$241M in FY2025 versus HK$843M in FY2021, a compound −26.9%/yr. Reported net income was −HK$46.0M in FY2025.

Key figures

Market cap HK$180M (≈ $22.9M) · P/S ratio 0.76 · EPS (TTM) HK$−0.0300 · Net margin −19.1% · Return on equity −12.5% · Return on assets (EBIT) −3.6% · Operating margin −9.6% · Revenue (TTM) HK$241M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 59% below its 52-week high and 49% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −39% fair-value upside, at 33%, 1932 screens cheaper than that median.

Fair Value models

Bear HK$0.1800 Fair Value HK$0.2400 Bull HK$0.3500
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) HK$0.1800 HK$0.2400 HK$0.3500 54
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.1800 HK$0.2400 HK$0.3500 54

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Quality Score breakdown

Overall quality 45/100

Of which business quality 43 · Market factors (momentum, volatility) 36

Profitability 9
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−25.0%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−27.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−19.5%
Start year 2020 (pandemic). Over 10 years: −12.0% a year
Revenue growth 11 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−13.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
1.6% (2020) → −7.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer Groupⓘ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.Specialty Chemicals · 708 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside +33.3% · Top 25%
Profitability
Return on assets −2.3% · Bottom 25%
Net margin (TTM) −19.1% · Bottom 25%
Operating margin (TTM) −9.6% · Bottom 25%
Growth and dividend
Revenue growth −22.1% · Bottom 25%
Balance sheet
Debt / equity 0.39× · Highest 25%

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/B 0.06× · Cheapest 25%
P/S (TTM) 0.10× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)78 · sector 0
FUTURE (revenue growth)0 · sector 41
PAST (return on equity)0 · sector 25
HEALTH (low debt)81 · sector 95
DIVIDEND (yield)0 · sector 29

Context: sector, industry, market

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

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Linde plc LIN $469.89 $441.72 −6%
The Sherwin-Williams Company SHW $330.44 $151.68 −54%
Ecolab Inc ECL $279.49 $96.56 −65%
Air Products and Chemicals, Inc APD $279.19 $121.30 −57%
Nan Ya Plastics Corporation 1303 238.00 TWD 234.23 TWD −2%
Givaudan SA GIVN CHF 3,447 CHF 1,527 −56%
Wanhua Chemical Group 600309 ¥69.45 ¥68.03 −2%
DSM-Firmenich AG DSFIR CHF 92.30 CHF 29.70 −68%
Asian Paints Limited ASIANPAINT ₹2,444 ₹1,479 −39%
PPG Industries, Inc PPG $107.52 $76.98 −28%

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CPM Group Ltd · Fair Value
HK$0.2400 +25%Fair Value
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Cite: Fair Value Calculator (2026). "CPM Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1932

Frequently asked questions

Is CPM Group Ltd (1932) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.2400 versus a price of HK$0.1800, about +33% upside (undervalued).
What is the fair value of 1932?
Our model-based fair value for CPM Group Ltd is HK$0.2400 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.1800.
What is the quality score of 1932?
CPM Group Ltd has a Quality Score of 45/100. 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 price target for CPM Group Ltd (1932)?
Our model-based price target is the fair value of HK$0.2400 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario HK$0.1800, optimistic scenario HK$0.3500. It is a calculation from audited fundamentals, not an analyst target.
What is the CPM Group Ltd stock forecast for 2026?
Our models put fair value at HK$0.2400, about +33% upside versus a price of HK$0.1800 (undervalued). Cautious scenario HK$0.1800, optimistic scenario HK$0.3500. The calculation is refreshed regularly with new filings.
What is the revenue of CPM Group Ltd (1932)?
CPM Group Ltd reported trailing-twelve-month revenue of about HK$241M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of CPM Group Ltd (1932)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CPM Group Ltd it is HK$0.2400 per share (as of Sep 27, 2026), against a price of HK$0.1800. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is CPM Group Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 1932 trades below its calculated fair value: price HK$0.1800, fair value HK$0.2400, a gap of about +33% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1932?
No. The price is what the market pays today (HK$0.1800); the fair value is what the company's own numbers justify (HK$0.2400). For CPM Group Ltd the two are HK$0.0600 per share apart. That gap is exactly why we show both numbers side by side.
How much is CPM Group Ltd worth?
The market values CPM Group Ltd at about HK$180M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.1800; our models calculate a fair value of HK$0.2400 per share.
What do the bullish and bearish scenarios say about 1932?
Our models span a range for CPM Group Ltd: cautious scenario HK$0.1800, base HK$0.2400, optimistic HK$0.3500 per share (as of Sep 27, 2026, price HK$0.1800). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of CPM Group Ltd (1932)?
Balance-sheet figures for CPM Group Ltd (as of Sep 27, 2026): return on equity −12.5%, debt of 0.39 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 1932 from its 52-week high?
CPM Group Ltd trades at HK$0.1800, about 59% below its 52-week high of HK$0.4400 and 49% above the low of HK$0.1210 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2400 is for.
Which stocks are comparable to CPM Group Ltd?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CPM Group Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.1800, calculated fair value HK$0.2400 (+33%), Quality Score 45/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1932 calculated?
We run CPM Group Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.2400, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. CPM Group Ltd currently trades 25 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CPM Group Ltd (1932)?
The closing price on Sep 30, 2026 was HK$0.1800. Our model-based fair value is HK$0.2400, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CPM Group Ltd right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (HK$0.1800 to HK$0.3500) leaves room in how you read the outcome.

Key figures of CPM Group Ltd

How large is the market capitalisation of CPM Group Ltd (1932)?
The market capitalisation of CPM Group Ltd is HK$180M (≈ $22.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CPM Group Ltd (1932)?
The price-to-sales ratio of CPM Group Ltd is 0.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CPM Group Ltd (1932)?
Earnings per share at CPM Group Ltd are HK$−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of CPM Group Ltd (1932)?
The net margin of CPM Group Ltd is −19.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CPM Group Ltd (1932)?
The return on equity (ROE) of CPM Group Ltd is −12.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CPM Group Ltd (1932)?
On an EBIT basis the return on assets of CPM Group Ltd is −3.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CPM Group Ltd (1932)?
The operating margin of CPM Group Ltd is −9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CPM Group Ltd (1932)?
Revenue at CPM Group Ltd is growing −22.1% versus a year earlier (3y avg −27.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CPM Group Ltd (1932)?
Earnings per share at CPM Group Ltd are growing −49.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CPM Group Ltd (1932) generate?
The free cash flow of CPM Group Ltd is −HK$2.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does CPM Group Ltd (1932) carry?
The net debt of CPM Group Ltd is HK$9.6M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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