2038 (2038) Fair Value & Analysis

Technology · Market cap HK$13.9B

2 2038 2038 · HK

PriceHK$17.73

Fair ValueHK$10.59

Upside-40.3%

Quality64/100

Watch 2038 for free — get notified when fair value or trend changes. Watch for free

Evidence: Medium Range HK$7.92 – HK$13.26

Fair value as of: Jul 2, 2026

From 14 valuation models · updated today

Share price −41.9% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$9.89 – HK$30.53 · fair‑value band HK$7.92 – HK$13.26 · the HK$17.73 price screens above the HK$10.59 fair value. As of Jul 2, 2026.

✦ Which stocks are undervalued right now? Check free Discover now →

Analysis

2038 (2038) currently trades at HK$17.73, while our model-based Fair Value estimate is HK$10.59 — implying the stock looks roughly 40.3% overvalued today. We read business quality at 64/100 (solid 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: medium).

Over the trailing twelve months, 2038 generated revenue of HK$6.7B at a net margin of 0.8%. Revenue grew 20.7% year over year. It earns a return on equity of 3.6%. The balance sheet holds a net cash position of HK$888M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$6.7B

Revenue growth (YoY) +20.7%

Net margin 0.8%

Return on equity 3.6%

Free cash flow −HK$78.8M FY2025

P/E ratio 33.5

More key figures

Operating margin 1.1%

EPS (TTM) HK$0.0100

Dividend yield 0.2%

EPS growth (YoY) +320%

Net cash HK$888M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2038 reported revenue of HK$6.7B in FY2025 versus HK$8.6B in FY2021, a compound −6.2%/yr. Reported net income was HK$52.7M in FY2025, compounding −1.6%/yr from FY2021.

Revenue −6.2%/yr

FY21 HK$8.6B

FY22 HK$9.4B

FY23 HK$6.4B

FY24 HK$5.7B

FY25 HK$6.7B

Net income −1.6%/yr

FY21 HK$56.3M

FY22 −HK$72.1M

FY23 −HK$121M

FY24 −HK$20.3M

FY25 HK$52.7M

Is 2038 fairly valued? → Check now

Similar stocks

6 more Consumer Electronics stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Apple Inc AAPL	$311.23	$86.29	-72%
Samsung Electronics Co 005930	317,000 KRW	119,421 KRW	-62%
Sony Group SNEJF	$19.65	$23.06	+17%
Xiaomi Corporation 1810N	64.00 MXN	32.79 MXN	-49%
Panasonic Holdings PCRHY	$27.30	$10.25	-62%
LG Electronics Inc 066570	227,500 KRW	91,371 KRW	-60%

Explore undervalued stocks

More undervalued Technology stocks →

All undervalued stocks Technology Financial Services Healthcare Consumer Cyclical Consumer Defensive Communication Services Industrials Energy Basic Materials Real Estate Utilities Deeply Undervalued Stocks Undervalued Blue-Chip Stocks Undervalued Small-Cap Stocks

Frequently asked questions

Is 2038 (2038) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$10.59 versus a price of HK$17.73 — about −40% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2038?

Our model-based fair value for 2038 is HK$10.59 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$17.73.

What is the quality score of 2038?

2038 has a Quality Score of 64/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2038 (2038)?

2038 reported trailing-twelve-month revenue of about HK$6.7B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2038?

The net profit margin of 2038 is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.

Does 2038 pay a dividend?

2038 currently shows a dividend yield of about 0.19% relative to its recent price (as of Jul 2, 2026).

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.