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VCREDIT Holdings Ltd (2003) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of VCREDIT Holdings Ltd HK$2.37, price HK$1.19, upside +100.0%, quality 56 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? Yes
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Financial Services · HK · ISIN KYG940441077

VH Thin data Oct 4, 2026

VCREDIT Holdings Ltd

2003 · HK

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

Fair value HK$2.37 · Strongly undervalued (+100.0%)
Generates free cash flow
3.8% dividend yield · Cash covered
Quality 56/100
Mixed Growth (revenue 3y +2.7 %/yr in CNY)
Moderate debt
Mixed vs. peers (4/10)
Loss-making · -100.4% net margin (TTM)
Narrow moat 13/100
Thin data
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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$4.72 HK$0.8600 Fair Value HK$2.37 May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.

How to read this chart

60‑month range HK$0.8600 – HK$4.72 · fair‑value band HK$1.37 – HK$3.94 · the HK$1.19 price screens below the HK$2.37 fair value. Dashed = 300-day average. As of Oct 4, 2026.

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Company profile

VCREDIT Holdings Limited, an investment holding company, provides technology-driven consumer financial services to prime and near-prime borrowers in the People's Republic of China and Hong Kong. The company offers credit card balance transfer and consumption credit products.

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VCREDIT Holdings Limited, an investment holding company, provides technology-driven consumer financial services to prime and near-prime borrowers in the People's Republic of China and Hong Kong. The company offers credit card balance transfer and consumption credit products. It also provides money lending, business process outsourcing, loan facilitation, microcredit, technology, guarantee, consulting, asset management, advertising agency, cross-border agency, and other financial services. The company was formerly known as Vision Capital Group Limited and changed its name to VCREDIT Holdings Limited in February 2018. VCREDIT Holdings Limited was founded in 2006 and is headquartered in Hong Kong, Hong Kong.

Stock analysis

VCREDIT Holdings Ltd (2003) currently trades at HK$1.19, while our model-based Fair Value estimate is HK$2.37, implying the stock looks roughly 50.0% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of HK$6.38 per share, and 4 of the 4 models we run sit above the HK$1.19 price.

Bear case: the Dividend Discount group reads lowest at HK$2.97, and 0 of the 4 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$1.37 (bear) to HK$3.94 (bull), the price of HK$1.19 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 56/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

VCREDIT Holdings Ltd reported revenue of 1.9B CNY in FY2025 versus 3.0B CNY in FY2021, a compound −10.4%/yr. Reported net income was −560M CNY in FY2025.

Key figures

Market cap HK$577M (≈ $73.6M) · P/S ratio 0.76 · Dividend yield 3.8% · Net margin −29.2% · Return on equity −17.6% · Return on assets (EBIT) 4.7% · Operating margin 12.1% · Revenue (TTM) 759M CNY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 64% below its 52-week high and 38% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at 10% fair-value upside, at 100%, 2003 screens cheaper than that median.

Fair Value models

Bear HK$1.37 Fair Value HK$2.37 Bull HK$3.94
Price HK$1.19 · Upside +100.0%
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
Growth DCF HK$66.53 HK$112.13 HK$183.38 74
Gordon GGM HK$1.87 HK$3.13 HK$4.07 66
DDM Multi-Stage HK$1.87 HK$2.97 HK$3.37 65
All 4 models by family
Dividend Discount
Gordon GGM HK$1.87 HK$3.13 HK$4.07 66
DDM Multi-Stage HK$1.87 HK$2.97 HK$3.37 65
Asset-Based
NCAV (Graham) HK$4.76 HK$6.38 HK$9.52 54
Growth DCF
Growth DCF HK$66.53 HK$112.13 HK$183.38 74

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Quality Score breakdown

Overall quality 56/100

Of which business quality 58 · Market factors (momentum, volatility) 31

Profitability 11
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 84
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. 24/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−29.8%
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.
+2.7%
Revenue growth 10 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.
+12.4%
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.
15.0% (2019) → −34.9% (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.Credit Services · 330 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 56 · Above median
Fair Value upside +100.0% · Top 25%
Profitability
Return on assets −7.7% · Bottom 25%
Net margin (TTM) −100.4% · Bottom 25%
Operating margin (TTM) 12.1% · Bottom 25%
Growth and dividend
Revenue growth −66.6% · Bottom 25%
Dividend yield (TTM) 3.8% · Above median
Balance sheet
Debt / equity 1.34× · Above median

Valuation Multiplesvs Credit Services median · lower = cheaper

P/S (TTM) 0.10× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 53
FUTURE (revenue growth)0 · sector 52
PAST (return on equity)0 · sector 32
HEALTH (low debt)33 · sector 56
DIVIDEND (yield)76 · sector 64

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 Credit Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Visa Inc V $359.33 $221.29 −38%
Mastercard Incorporated MA $551.47 $359.54 −35%
American Express Company AXP $304.10 $208.54 −31%
Capital One Financial Corporation COF $193.07 $125.94 −35%
Bajaj Finance Limited BAJFINANCE ₹948.30 ₹1,100 +16%
PayPal Holdings PYPL $53.06 $104.12 +96%
Shriram Finance Limited SHRIRAMFIN ₹994.10 ₹1,364 +37%
Affirm Holdings AFRM $70.77 $77.85 +10%
Synchrony Financial, SYF $71.77 $141.92 +98%
SoFi Technologies, Inc SOFI $15.72 $5.53 −65%

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VCREDIT Holdings Ltd · Fair Value
HK$2.37 +50%Fair Value
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Cite: Fair Value Calculator (2026). "VCREDIT Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2003

Frequently asked questions

Is VCREDIT Holdings Ltd (2003) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of HK$2.37 versus a price of HK$1.19, about +100% upside (undervalued).
What is the fair value of 2003?
Our model-based fair value for VCREDIT Holdings Ltd is HK$2.37 (as of Oct 4, 2026), built from audited fundamentals. The current price: HK$1.19.
What is the quality score of 2003?
VCREDIT Holdings Ltd has a Quality Score of 56/100. 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 VCREDIT Holdings Ltd (2003)?
Our model-based price target is the fair value of HK$2.37 (as of Oct 4, 2026) from 4 valuation models. Cautious scenario HK$1.37, optimistic scenario HK$3.94. It is a calculation from audited fundamentals, not an analyst target.
What is the VCREDIT Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$2.37, about +100% upside versus a price of HK$1.19 (undervalued). Cautious scenario HK$1.37, optimistic scenario HK$3.94. The calculation is refreshed regularly with new filings.
What is the revenue of VCREDIT Holdings Ltd (2003)?
VCREDIT Holdings Ltd reported trailing-twelve-month revenue of about 759M CNY (latest available figure, as of Oct 4, 2026).
Does VCREDIT Holdings Ltd pay a dividend?
VCREDIT Holdings Ltd currently shows a dividend yield of about 3.80% relative to its recent price (as of Oct 4, 2026).
What is the intrinsic value of VCREDIT Holdings Ltd (2003)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For VCREDIT Holdings Ltd it is HK$2.37 per share (as of Oct 4, 2026), against a price of HK$1.19. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is VCREDIT Holdings Ltd stock overvalued or undervalued in 2026?
As of Oct 4, 2026, 2003 trades below its calculated fair value: price HK$1.19, fair value HK$2.37, a gap of about +100% (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 2003?
No. The price is what the market pays today (HK$1.19); the fair value is what the company's own numbers justify (HK$2.37). For VCREDIT Holdings Ltd the two are HK$1.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is VCREDIT Holdings Ltd worth?
The market values VCREDIT Holdings Ltd at about HK$577M (market capitalisation, as of Oct 4, 2026). Per share that is HK$1.19; our models calculate a fair value of HK$2.37 per share.
What do the bullish and bearish scenarios say about 2003?
Our models span a range for VCREDIT Holdings Ltd: cautious scenario HK$1.37, base HK$2.37, optimistic HK$3.94 per share (as of Oct 4, 2026, price HK$1.19). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of VCREDIT Holdings Ltd (2003)?
Balance-sheet figures for VCREDIT Holdings Ltd (as of Oct 4, 2026): return on equity −17.6%, debt of 1.34 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 2003 from its 52-week high?
VCREDIT Holdings Ltd trades at HK$1.19, about 64% below its 52-week high of HK$3.34 and 38% above the low of HK$0.8600 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$2.37 is for.
Which stocks are comparable to VCREDIT Holdings Ltd?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 VCREDIT Holdings Ltd stock attractive at the current price?
The data as of Oct 4, 2026: price HK$1.19, calculated fair value HK$2.37 (+100%), Quality Score 56/100, from 4 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 2003 calculated?
We run VCREDIT Holdings Ltd through 4 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$2.37, 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 15.0 % above its aggregate fair value. VCREDIT Holdings Ltd currently trades 50 % 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 VCREDIT Holdings Ltd (2003)?
The closing price on Oct 2, 2026 was HK$1.19. Our model-based fair value is HK$2.37, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with VCREDIT Holdings Ltd right now?
The price is below even our cautious bear case (HK$1.37). The market is more pessimistic than our downside scenario. The model range is unusually wide (HK$1.37 to HK$3.94). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (56/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of VCREDIT Holdings Ltd

How large is the market capitalisation of VCREDIT Holdings Ltd (2003)?
The market capitalisation of VCREDIT Holdings Ltd is HK$577M (≈ $73.6M). 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 VCREDIT Holdings Ltd (2003)?
The price-to-sales ratio of VCREDIT Holdings Ltd is 0.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of VCREDIT Holdings Ltd (2003)?
The dividend yield of VCREDIT Holdings Ltd is 3.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of VCREDIT Holdings Ltd (2003)?
The net margin of VCREDIT Holdings Ltd is −29.2% (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 VCREDIT Holdings Ltd (2003)?
The return on equity (ROE) of VCREDIT Holdings Ltd is −17.6% (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 VCREDIT Holdings Ltd (2003)?
On an EBIT basis the return on assets of VCREDIT Holdings Ltd is 4.7% (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 VCREDIT Holdings Ltd (2003)?
The operating margin of VCREDIT Holdings Ltd is 12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at VCREDIT Holdings Ltd (2003)?
Revenue at VCREDIT Holdings Ltd is growing −66.6% versus a year earlier (3y avg +2.7%). 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 VCREDIT Holdings Ltd (2003)?
Earnings per share at VCREDIT Holdings Ltd are growing −93.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does VCREDIT Holdings Ltd (2003) generate?
The free cash flow of VCREDIT Holdings Ltd is 2.5B 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 VCREDIT Holdings Ltd (2003) carry?
The net debt of VCREDIT Holdings Ltd is 965M CNY (fiscal year 2025, ≈ 0.4 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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