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FIH Mobile Ltd (2038) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of FIH Mobile Ltd HK$12.06, price HK$15.09, upside -20.1%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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

Technology · HK · ISIN KYG3472Y1017

FM FIH Mobile Ltd logo Broad data Sep 24, 2026

FIH Mobile Ltd

2038 · HK

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value HK$12.06 · Overvalued (−20%)
!Quality 61/100
!Weak Growth (revenue 5y −5.7 %/yr)
!Thin margins · 0.8% net margin (TTM)
!Low debt · negative free cash flow
·0.23% dividend yield
!Mixed vs. peers (7/14)
!Narrow moat 19/100
!Weak on valuation: 7 out of 100
!Weak on past: 15 out of 100
!Weak on dividend: 5 out of 100

What runs behind every stock

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

Price vs Fair Value

HK$30.53 HK$4.55 Fair Value HK$12.06 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range HK$4.55 – HK$30.53 · fair‑value band HK$11.10 – HK$13.37 · the HK$15.09 price screens above the HK$12.06 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

FIH Mobile Limited, an investment holding company, designs, manufactures, trades in, and repairs handsets worldwide. The company offers mobile/IoT devices; smart manufacturing services; intelligent automotive; software engineering; and vertical solutions.

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FIH Mobile Limited, an investment holding company, designs, manufactures, trades in, and repairs handsets worldwide. The company offers mobile/IoT devices; smart manufacturing services; intelligent automotive; software engineering; and vertical solutions. It also engages in research and development activities; manufacture and sale of electronic products; and import and export activities. The company was formerly known as Foxconn International Holdings Limited and changed its name to FIH Mobile Limited in May 2013. FIH Mobile Limited was incorporated in 2000 and is headquartered in New Taipei City, Taiwan. FIH Mobile Limited operates as a subsidiary of Foxconn (Far East) Limited.

Stock analysis

FIH Mobile Ltd (2038) currently trades at HK$15.09, while our model-based Fair Value estimate is HK$12.06, implying the stock looks roughly 25.1% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of HK$1.89 per share, and 0 of the 14 models we run sit above the HK$15.09 price.

Bear case: the Asset-Based group reads lowest at HK$1.30, and 14 of the 14 models stay below the price. Evidence for this calculation is high.

Scenario range: HK$11.10 (bear) to HK$13.37 (bull), the price of HK$15.09 sits above 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 61/100 (solid quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

FIH Mobile Ltd reported revenue of $6.7B in FY2025 versus $8.6B in FY2021, a compound −6.2%/yr. Reported net income was $52.7M in FY2025, compounding −1.6%/yr from FY2021.

Key figures

Market cap HK$13.9B (≈ $1.8B) · P/E ratio 33.5 · P/S ratio 0.26 · EPS (TTM) HK$0.0100 · Dividend yield 0.2% · Net margin 0.8% · Return on equity 3.6% · Return on assets (EBIT) −0.8%.

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 51% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −37% fair-value upside, at −20%, 2038 screens cheaper than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (HK$0.5600 to HK$5.46). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear HK$11.10 Fair Value HK$12.06 Bull HK$13.37
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. 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
Residual Income HK$1.36 HK$1.33 HK$1.09 76
EPV HK$1.57 HK$1.61 HK$1.64 74
ROIC Compounder HK$1.57 HK$1.61 HK$1.64 72
All 14 models by family
Earnings-Based
Graham-Dodd HK$0.4600 HK$0.5600 HK$0.6300 67
EPV HK$1.57 HK$1.61 HK$1.64 74
Dividend Discount
Gordon GGM HK$1.41 HK$1.52 HK$1.68 69
DDM Multi-Stage HK$1.41 HK$1.68 HK$2.03 67
Multiples
P/E Multiple HK$1.42 HK$1.89 HK$2.36 63
P/S Multiple HK$0.8600 HK$1.15 HK$1.43 58
P/B Multiple HK$0.8600 HK$1.15 HK$1.43 55
EV/EBIT HK$2.55 HK$2.97 HK$3.39 66
EV/EBITDA HK$4.42 HK$5.46 HK$6.50 67
EV/Revenue HK$1.93 HK$2.20 HK$2.47 54
Asset-Based
NCAV (Graham) HK$0.9700 HK$1.30 HK$1.94 54
Economic Profit
Residual Income HK$1.36 HK$1.33 HK$1.09 76
ROIC Compounder HK$1.57 HK$1.61 HK$1.64 72
Growth Earnings
Growth-Adj P/E HK$0.9900 HK$1.41 HK$1.84 67

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Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 28

Profitability 35
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 81
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. 20/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+16.7%
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.
−10.8%
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.
−5.7%
Start year 2020 (pandemic). Over 10 years: −1.1% a year
Revenue growth 22 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.
+8.6%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−0.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.0%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1% vs −11%, picking up
Profit margin 2020 to 2025 ⓘ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.−3% → 1%
Start year 2020 (pandemic)

2038 screens 25% overvalued. Compare with Samsung Electronics Co →

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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.Consumer Electronics · 128 stocks

Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 61 · Top 25%
Fair Value upside −21% · Below median
Profitability
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Below median
Growth and dividend
Revenue growth 21% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%

Valuation Multiplesvs Consumer Electronics median · lower = cheaper

P/E (TTM) 33.5× · Pricier than median
P/B 1.17× · Cheaper than median
P/S (TTM) 0.27× · Cheaper than median
EV/EBITDA 4.3× · Cheapest 25%
PEG 0.94× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)7 · sector 9
FUTURE (revenue growth)100 · sector 6
PAST (return on equity)15 · sector 18
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)5 · sector 32

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

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Goertek Inc 002241 ¥24.64 ¥14.47 −41%
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Shenzhen Transsion Holdings 688036 ¥55.65 ¥54.13 −3%
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Dixon Technologies (India) Limited DIXON ₹13,200 ₹4,022 −70%

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Cite: Fair Value Calculator (2026). "FIH Mobile Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2038

Frequently asked questions

Is FIH Mobile Ltd (2038) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$12.06 versus a price of HK$15.09, about −20% upside (overvalued).
What is the fair value of 2038?
Our model-based fair value for FIH Mobile Ltd is HK$12.06 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$15.09.
What is the quality score of 2038?
FIH Mobile Ltd has a Quality Score of 61/100. 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 FIH Mobile Ltd (2038)?
Our model-based price target is the fair value of HK$12.06 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario HK$11.10, optimistic scenario HK$13.37. It is a calculation from audited fundamentals, not an analyst target.
What is the FIH Mobile Ltd stock forecast for 2026?
Our models put fair value at HK$12.06, about −20% upside versus a price of HK$15.09 (overvalued). Cautious scenario HK$11.10, optimistic scenario HK$13.37. The calculation is refreshed regularly with new filings.
What is the revenue of FIH Mobile Ltd (2038)?
FIH Mobile Ltd reported trailing-twelve-month revenue of about $6.7B (latest available figure, as of Sep 24, 2026).
Does FIH Mobile Ltd pay a dividend?
FIH Mobile Ltd currently shows a dividend yield of about 0.23% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of FIH Mobile Ltd (2038)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FIH Mobile Ltd it is HK$12.06 per share (as of Sep 24, 2026), against a price of HK$15.09. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is FIH Mobile Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 2038 trades above its calculated fair value: price HK$15.09, fair value HK$12.06, a gap of about −20% (overvalued). 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 2038?
No. The price is what the market pays today (HK$15.09); the fair value is what the company's own numbers justify (HK$12.06). For FIH Mobile Ltd the two are HK$3.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is FIH Mobile Ltd worth?
The market values FIH Mobile Ltd at about HK$13.9B (market capitalisation, as of Sep 24, 2026). Per share that is HK$15.09; our models calculate a fair value of HK$12.06 per share.
What do the bullish and bearish scenarios say about 2038?
Our models span a range for FIH Mobile Ltd: cautious scenario HK$11.10, base HK$12.06, optimistic HK$13.37 per share (as of Sep 24, 2026, price HK$15.09). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2038?
FIH Mobile Ltd trades at a price-to-earnings ratio of 33.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$12.06 is built from several models across several years. Other multiples: PEG 0.9, P/B 1.2, P/S 0.3, EV/EBITDA 4.3.
What is the PEG ratio of 2038?
The PEG ratio of FIH Mobile Ltd is 0.94 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of FIH Mobile Ltd (2038)?
Balance-sheet figures for FIH Mobile Ltd (as of Sep 24, 2026): return on equity 3.6%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 2038 from its 52-week high?
FIH Mobile Ltd trades at HK$15.09, about 51% below its 52-week high of HK$30.53 and at the low of HK$15.09 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$12.06 is for.
Which stocks are comparable to FIH Mobile Ltd?
From the same area (Technology) we also value Samsung Electronics Co, Sony Group, Xiaomi Corporation, LG Electronics 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 FIH Mobile Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price HK$15.09, calculated fair value HK$12.06 (−20%), Quality Score 61/100, from 14 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 2038 calculated?
We run FIH Mobile Ltd through 14 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$12.06, 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 13.0 % above its aggregate fair value. FIH Mobile Ltd itself currently trades above fair value. 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 FIH Mobile Ltd (2038)?
The closing price on Sep 24, 2026 was HK$15.09. Our model-based fair value is HK$12.06, about −20% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FIH Mobile Ltd right now?
The price sits above even our optimistic bull case (HK$13.37). The favourable scenario is already priced in. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of FIH Mobile Ltd

How large is the market capitalisation of FIH Mobile Ltd (2038)?
The market capitalisation of FIH Mobile Ltd is HK$13.9B (≈ $1.8B). 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 FIH Mobile Ltd (2038)?
The price-to-sales ratio of FIH Mobile Ltd is 0.26 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of FIH Mobile Ltd (2038)?
Earnings per share at FIH Mobile Ltd are HK$0.0100 (price ÷ EPS = P/E 33.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FIH Mobile Ltd (2038)?
The dividend yield of FIH Mobile Ltd is 0.2%. 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 FIH Mobile Ltd (2038)?
The net margin of FIH Mobile Ltd is 0.8% (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 FIH Mobile Ltd (2038)?
The return on equity (ROE) of FIH Mobile Ltd is 3.6% (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 FIH Mobile Ltd (2038)?
On an EBIT basis the return on assets of FIH Mobile Ltd is −0.8% (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 FIH Mobile Ltd (2038)?
The operating margin of FIH Mobile Ltd is 1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FIH Mobile Ltd (2038)?
Revenue at FIH Mobile Ltd is growing +20.7% versus a year earlier (3y avg −10.8%). 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 FIH Mobile Ltd (2038)?
Earnings per share at FIH Mobile Ltd are growing +320% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does FIH Mobile Ltd (2038) generate?
The free cash flow of FIH Mobile Ltd is −$78.8M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does FIH Mobile Ltd (2038) hold?
FIH Mobile Ltd holds more cash than debt, $888M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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