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OneForce Holdings (1933) Fair Value & Analysis

Technology · HK · Market cap HK$94.6M

OH OneForce Holdings 1933 · HK
PriceHK$0.2470
Fair ValueHK$0.0500
Upside-79.8%
Quality37/100
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Weak Growth
Loss-making · -60.9% net margin
Low debt · generates free cash flow
Trails peers (2/11)
Narrow moat 0/100
Evidence: Low Range HK$0.0400 – HK$0.0600 Share as image

Fair value as of: Aug 13, 2026

From 6 valuation models · updated 3 days ago

Share price +19.3% over the past month.

Below-average quality, and screening another 80% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$0.0600). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

HK$0.4550 HK$0.1130 Fair Value HK$0.0500 Jul 2020 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$0.1130 – HK$0.4550 · fair‑value band HK$0.0400 – HK$0.0600 · the HK$0.2470 price screens above the HK$0.0500 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

OneForce Holdings (1933) currently trades at HK$0.2470, while our model-based Fair Value estimate is HK$0.0500, implying the stock looks roughly 79.8% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Technology 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, OneForce Holdings generated revenue of HK$219M at a net margin of -60.9%. Revenue declined 53.4% year over year. It earns a return on equity of -77.1%. Net debt stands at HK$97.8M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.0400 (bear case) to HK$0.0600 (bull case); at HK$0.2470, the current price sits above 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 59% below its 52-week high and 127% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at -80%, 1933 screens richer 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
Growth DCF HK$0.0400 HK$0.0400 HK$0.0500 80
NCAV (Graham) HK$0.1100 HK$0.1400 HK$0.2100 50
EV/Revenue HK$0.0400 HK$0.0500 HK$0.0600 43
All 6 models by family
DCF Models
FCF DCF HK$0.0400 HK$0.0400 HK$0.0600 38
5Y Revenue Exit HK$0.0400 HK$0.0500 HK$0.0600 39
10Y Revenue Exit HK$0.0400 HK$0.0500 HK$0.0600 36
Multiples
EV/Revenue HK$0.0400 HK$0.0500 HK$0.0600 43
Asset-Based
NCAV (Graham) HK$0.1100 HK$0.1400 HK$0.2100 50
Growth DCF
Growth DCF HK$0.0400 HK$0.0400 HK$0.0500 80

Widest divergence: Asset-Based (HK$0.1400) versus Growth DCF (HK$0.0400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$219M
Revenue growth (YoY) -53.4%
Net margin -60.9%
Return on equity -77.1%
Free cash flow HK$1.2M FY2025
Operating margin -59.3%
More key figures
EPS (TTM) HK$-0.1900
EPS growth (YoY) -75.8%
Net debt HK$97.8M FY2026

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

Quality Score breakdown

Overall quality 37/100

Of which business quality 38 · Market factors (momentum, volatility) 70

Profitability 8
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 86
Price trend over the last 3–12 months (market factor)
52W Momentum 64
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

OneForce Holdings Limited, together with its subsidiaries, provides information technology services in the People's Republic of China. It operates through three segments: Sale of Software and Solutions; Provision of Technical Services; and Sale of Products.

Full company description

OneForce Holdings Limited, together with its subsidiaries, provides information technology services in the People's Republic of China. It operates through three segments: Sale of Software and Solutions; Provision of Technical Services; and Sale of Products. The company engages in the design, implementation, enhancement, and upgrade of software systems for power grid and distribution companies; provision of maintenance services for software systems; and sale of software systems related hardware and spare parts. It is also involved in technical research and application in power information technology; and investment, construction, and operation of smart city infrastructure. The company serves energy companies, government, and corporate customers. OneForce Holdings Limited was incorporated in 2016 and is based in Beijing, China.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

OneForce Holdings reported revenue of HK$211M in FY2026 versus HK$377M in FY2022, a compound −13.4%/yr. Reported net income was −HK$129M in FY2026.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$211M
Latest YoY
−44.0%
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.
−22.2%
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.
−6.4%
Avg. growth/yr (11Y) 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.
+14.5%
Revenue −13.4%/yr
FY22 HK$377M
FY23 HK$450M
FY24 HK$491M
FY25 HK$378M
FY26 HK$211M
Net income
FY22 HK$22.0M
FY23 HK$32.6M
FY24 HK$8.4M
FY25 −HK$37.6M
FY26 −HK$129M

1933 screens 80% overvalued. Compare with International Business Machines Corporation →

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Cite: Fair Value Calculator (2026). "OneForce Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1933

Peer Group

Information Technology Services · 490 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 37 · Bottom 25%
Fair Value upside −80% · Bottom 25%
Return on assets -16% · Bottom 25%
Net margin (TTM) -61% · Bottom 25%
Operating margin (TTM) -59% · Bottom 25%
Revenue growth -53% · Bottom 25%
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/B 0.11× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 10.3× · Pricier than 75% of peers

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 0 · sector 33
FUTURE 0 · sector 30
PAST 0 · sector 35
HEALTH 93 · sector 97
DIVIDEND 0 · sector 40

VALUE 0: the price sits above our fair-value range.

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.98 $175.76 -26%
Accenture plc ACNN 2,460 MXN 300.07 MXN -88%
Tata Consultancy Services Limited TCS ₹2,350 ₹3,473 +48%
Infosys Limited INFY ₹1,176 ₹1,998 +70%
HCL Technologies Limited HCLTECH ₹1,365 ₹1,722 +26%
Wipro Limited WIPRO ₹183.94 ₹314.26 +71%
Tech Mahindra Limited TECHM ₹1,625 ₹1,521 -6%
Samsung SDS Co 018260 235,500 KRW 235,321 KRW -0%
Persistent Systems Limited PERSISTENT ₹5,474 ₹3,259 -40%
Hyundai Autoever Corporation 307950 433,000 KRW 186,323 KRW -57%

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Frequently asked questions

Is OneForce Holdings (1933) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.0500 versus a price of HK$0.2470, about −80% (overvalued).
What is the fair value of 1933?
Our model-based fair value for OneForce Holdings is HK$0.0500 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.2470.
What is the quality score of 1933?
OneForce Holdings has a Quality Score of 37/100. 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 OneForce Holdings (1933)?
OneForce Holdings reported trailing-twelve-month revenue of about HK$219M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1933?
The net profit margin of OneForce Holdings is about -60.9%, 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.

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