Asiaray Media Group Ltd (1993) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Asiaray Media Group Ltd HK$0.72, price HK$0.45, upside +61.8%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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$0.4150 – HK$5.60 · fair‑value band HK$0.5400 – HK$0.9000 · the HK$0.4450 price screens below the HK$0.7200 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Asiaray Media Group Limited, an investment holding company, operates as an out-of-home media company in the People's Republic of China, Hong Kong, and internationally. The company operates through Airports Business, Metro and Billboards Business, and Bus and Other Business segments.
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Asiaray Media Group Limited, an investment holding company, operates as an out-of-home media company in the People's Republic of China, Hong Kong, and internationally. The company operates through Airports Business, Metro and Billboards Business, and Bus and Other Business segments. It develops and operates out-of-home advertising media, including advertising in airports, metro lines, and billboards and building solutions. In addition, the company offers advertising services in bus exterior and interior, and bus shelter, as well as advertising services from other media spaces. Further, it provides design, consultancy, construction, and maintenance services; advertising production, installation, and dismantling services; and design engineering and consulting services, signage, and street furniture activities, as well as invests in properties. The company was founded in 1993 and is based in Quarry Bay, Hong Kong. Asiaray Media Group Limited is a subsidiary of Media Cornerstone Limited.
Stock analysis
Asiaray Media Group Ltd (1993) currently trades at HK$0.4450, while our model-based Fair Value estimate is HK$0.7200, implying the stock looks roughly 38.2% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of HK$6.47 per share, and 19 of the 22 models we run sit above the HK$0.4450 price.
Bear case: the Asset-Based group reads lowest at HK$0.1300, and 3 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.5400 (bear) to HK$0.9000 (bull), the price of HK$0.4450 sits below 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 58/100 (solid quality), in the Communication Services sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Asiaray Media Group Ltd reported revenue of 916M CNY in FY2025 versus 2.3B CNY in FY2021, a compound −20.4%/yr. Reported net income was 13.3M CNY in FY2025.
Key figures
Market cap HK$282M (≈ $35.9M) · P/S ratio 0.31 · EPS (TTM) HK$−0.0100 · Net margin 1.5% · Return on equity 7.9% · Return on assets (EBIT) 4.4% · Operating margin 8.7% · Revenue (TTM) 916M CNY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 41% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 23% fair-value upside, at 62%, 1993 screens cheaper than that median.
Fair Value models
Bear HK$0.5400Fair Value HK$0.7200Bull HK$0.9000
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.
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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
Compare Asiaray Media Group Ltd with another stock
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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.Advertising Agencies · 191 stocks
Beats the industry median on 6/7 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+61.8% · Above median
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets2.2% · Above median
Net margin (TTM)1.5% · Above median
Operating margin (TTM)8.7% · Top 25%
Growth and dividend
Revenue growth1.2% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Advertising Agencies median · lower = cheaper
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Asiaray Media Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1993
Frequently asked questions
Is Asiaray Media Group Ltd (1993) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.7200 versus a price of HK$0.4450, about +62% upside (undervalued).
What is the fair value of 1993?
Our model-based fair value for Asiaray Media Group Ltd is HK$0.7200 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.4450.
What is the quality score of 1993?
Asiaray Media Group Ltd has a Quality Score of 58/100. 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 Asiaray Media Group Ltd (1993)?
Our model-based price target is the fair value of HK$0.7200 (as of Sep 27, 2026) from 22 valuation models. Cautious scenario HK$0.5400, optimistic scenario HK$0.9000. It is a calculation from audited fundamentals, not an analyst target.
What is the Asiaray Media Group Ltd stock forecast for 2026?
Our models put fair value at HK$0.7200, about +62% upside versus a price of HK$0.4450 (undervalued). Cautious scenario HK$0.5400, optimistic scenario HK$0.9000. The calculation is refreshed regularly with new filings.
What is the revenue of Asiaray Media Group Ltd (1993)?
Asiaray Media Group Ltd reported trailing-twelve-month revenue of about 916M CNY (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Asiaray Media Group Ltd (1993)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Asiaray Media Group Ltd it is HK$0.7200 per share (as of Sep 27, 2026), against a price of HK$0.4450. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Asiaray Media Group Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 1993 trades below its calculated fair value: price HK$0.4450, fair value HK$0.7200, a gap of about +62% (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 1993?
No. The price is what the market pays today (HK$0.4450); the fair value is what the company's own numbers justify (HK$0.7200). For Asiaray Media Group Ltd the two are HK$0.2750 per share apart. That gap is exactly why we show both numbers side by side.
How much is Asiaray Media Group Ltd worth?
The market values Asiaray Media Group Ltd at about HK$282M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.4450; our models calculate a fair value of HK$0.7200 per share.
What do the bullish and bearish scenarios say about 1993?
Our models span a range for Asiaray Media Group Ltd: cautious scenario HK$0.5400, base HK$0.7200, optimistic HK$0.9000 per share (as of Sep 27, 2026, price HK$0.4450). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Asiaray Media Group Ltd (1993)?
Balance-sheet figures for Asiaray Media Group Ltd (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 1993 from its 52-week high?
Asiaray Media Group Ltd trades at HK$0.4450, about 41% below its 52-week high of HK$0.7600 and 7% above the low of HK$0.4150 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.7200 is for.
Which stocks are comparable to Asiaray Media Group Ltd?
From the same area (Communication Services) we also value AppLovin Corporation, Publicis Groupe S.A, Omnicom Group, Focus Media Information Technology Co, 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 Asiaray Media Group Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.4450, calculated fair value HK$0.7200 (+62%), Quality Score 58/100, from 22 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 1993 calculated?
We run Asiaray Media Group Ltd through 22 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$0.7200, 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. Asiaray Media Group Ltd currently trades 38 % 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 Asiaray Media Group Ltd (1993)?
The closing price on Sep 30, 2026 was HK$0.4450. Our model-based fair value is HK$0.7200, about +62% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Asiaray Media Group Ltd right now?
The price is below even our cautious bear case (HK$0.5400). The market is more pessimistic than our downside scenario. 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 (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Asiaray Media Group Ltd
How large is the market capitalisation of Asiaray Media Group Ltd (1993)?
The market capitalisation of Asiaray Media Group Ltd is HK$282M (≈ $35.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Asiaray Media Group Ltd (1993)?
The price-to-sales ratio of Asiaray Media Group Ltd is 0.31 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Asiaray Media Group Ltd (1993)?
Earnings per share at Asiaray Media Group Ltd are HK$−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Asiaray Media Group Ltd (1993)?
The net margin of Asiaray Media Group Ltd is 1.5% (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 Asiaray Media Group Ltd (1993)?
The return on equity (ROE) of Asiaray Media Group Ltd is 7.9% (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 Asiaray Media Group Ltd (1993)?
On an EBIT basis the return on assets of Asiaray Media Group Ltd is 4.4% (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 Asiaray Media Group Ltd (1993)?
The operating margin of Asiaray Media Group Ltd is 8.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Asiaray Media Group Ltd (1993)?
Revenue at Asiaray Media Group Ltd is growing +1.2% versus a year earlier (3y avg −21.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Asiaray Media Group Ltd (1993) generate?
The free cash flow of Asiaray Media Group Ltd is 419M CNY (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 Asiaray Media Group Ltd (1993) carry?
The net debt of Asiaray Media Group Ltd is 87.6M CNY (fiscal year 2025, ≈ 0.2 yrs of FCF). 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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