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Landrich Holding Limited (2132) Fair Value & Analysis

Industrials · HK · Market cap HK$218M

LH Landrich Holding Limited 2132 · HK
PriceHK$0.1690
Fair ValueHK$0.1700
Upside+0.6%
Quality56/100
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Mixed Growth
Thin margins · 1.1% net margin
generates free cash flow
Mixed vs. peers (6/11)
Narrow moat 20/100
Evidence: High Range HK$0.1300 – HK$0.2200 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 3 days ago

Share price +2.4% over the past month.

A solid business, currently priced close to our fair value.

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from HK$0.1300 (bear) to HK$0.2200 (bull), base HK$0.1700. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 56/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

HK$0.4750 HK$0.0850 Fair Value HK$0.1700 Mar 2021 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$0.0850 – HK$0.4750 · fair‑value band HK$0.1300 – HK$0.2200 · the HK$0.1690 price screens below the HK$0.1700 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Landrich Holding Limited (2132) currently trades at HK$0.1690, while our model-based Fair Value estimate is HK$0.1700, implying the stock looks roughly 0.6% fairly valued today. The Quality Score stands at 56/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Landrich Holding Limited generated revenue of HK$1.1B at a net margin of 1.1%. Revenue grew 2.8% year over year. It earns a return on equity of 3.7%. The stock trades on a trailing P/E of 16.9. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1300 (bear case) to HK$0.2200 (bull case); at HK$0.1690, the current price sits within 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 41% below its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -34% fair-value upside, at 1%, 2132 screens cheaper 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
Residual Income HK$0.1400 HK$0.1300 HK$0.1000 76
Growth DCF HK$0.6700 HK$0.9300 HK$1.28 72
Growth-Adj P/E HK$0.1100 HK$0.1500 HK$0.2000 68
All 24 models by family
DCF Models
FCF DCF HK$0.6800 HK$0.9800 HK$1.41 38
Owner Earnings HK$0.2300 HK$0.2800 HK$0.3500 31
5Y Revenue Exit HK$0.4200 HK$0.5200 HK$0.6400 39
5Y EBITDA Exit HK$0.4600 HK$0.6000 HK$0.7600 41
5Y P/E Exit HK$0.4300 HK$0.5400 HK$0.6500 38
10Y Revenue Exit HK$0.5200 HK$0.6400 HK$0.8000 36
10Y EBITDA Exit HK$0.5400 HK$0.6900 HK$0.8900 37
10Y P/E Exit HK$0.5300 HK$0.6500 HK$0.8100 35
Earnings-Based
Graham-Dodd HK$0.0600 HK$0.2500 HK$0.3400 54
Lynch FV HK$0.0600 HK$0.0900 HK$0.1200 50
PEG = 1.0 HK$0.0600 HK$0.0900 HK$0.1200 46
EPV HK$0.2000 HK$0.2000 HK$0.2100 59
Multiples
P/E Multiple HK$0.1300 HK$0.1700 HK$0.2200 63
P/S Multiple HK$0.1100 HK$0.1400 HK$0.1800 58
P/B Multiple HK$0.1100 HK$0.1400 HK$0.1800 55
EV/EBIT HK$0.2900 HK$0.3400 HK$0.3900 53
EV/EBITDA HK$0.3200 HK$0.3900 HK$0.4500 54
EV/Revenue HK$0.2400 HK$0.2900 HK$0.3400 43
Asset-Based
NCAV (Graham) HK$0.1000 HK$0.1400 HK$0.2100 50
Growth DCF
Growth DCF HK$0.6700 HK$0.9300 HK$1.28 72
Rev-Margin DCF HK$0.4200 HK$0.5300 HK$0.6700 67
Economic Profit
Residual Income HK$0.1400 HK$0.1300 HK$0.1000 76
ROIC Compounder HK$0.2000 HK$0.2000 HK$0.2100 67
Growth Earnings
Growth-Adj P/E HK$0.1100 HK$0.1500 HK$0.2000 68

Widest divergence: DCF Models (HK$0.6000) versus Earnings-Based (HK$0.0900). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$1.1B
Revenue growth (YoY) +2.8%
Net margin 1.1%
Return on equity 3.7%
Free cash flow HK$94.8M FY2025
P/E ratio 16.9
More key figures
Operating margin 1.1%
EPS (TTM) HK$0.0100
EPS growth (YoY) -10.2%

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

Quality Score breakdown

Overall quality 56/100

Of which business quality 59 · Market factors (momentum, volatility) 63

Profitability 36
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 71
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

Landrich Holding Limited, an investment holding company, engages in the construction engineering works in Hong Kong. The company undertakes civil engineering works as either a main contractor or a subcontractor. It is involved in the construction of roads and drainage works; site formation works; and building works.

Full company description

Landrich Holding Limited, an investment holding company, engages in the construction engineering works in Hong Kong. The company undertakes civil engineering works as either a main contractor or a subcontractor. It is involved in the construction of roads and drainage works; site formation works; and building works. The company was founded in 1993 and is headquartered in Tsuen Wan, Hong Kong. Landrich Holding Limited is a subsidiary of New Brilliance Enterprises Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Landrich Holding Limited reported revenue of HK$1.3B in FY2025 versus HK$634M in FY2021, a compound +19.2%/yr. Reported net income was HK$13.3M in FY2025, compounding −27.5%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$1.3B
Latest YoY
−6.3%
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.
+8.8%
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.
+16.0%
Avg. growth/yr (9Y) 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.
+13.8%
Revenue +19.2%/yr
FY21 HK$634M
FY22 HK$994M
FY23 HK$956M
FY24 HK$1.4B
FY25 HK$1.3B
Net income −27.5%/yr
FY21 HK$47.9M
FY22 HK$41.2M
FY23 HK$32.8M
FY24 HK$26.1M
FY25 HK$13.3M

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Cite: Fair Value Calculator (2026). "Landrich Holding Limited Fair Value". https://www.fairvalue-calculator.com/stock/2132

Peer Group

Engineering & Construction · 837 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 56 · Above median
Fair Value upside +1% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 3% · Below median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 16.9× · Cheaper than median
P/B 0.66× · Cheaper than median
P/S (TTM) 0.20× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper 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 34 · sector 14
FUTURE 14 · sector 15
PAST 15 · sector 26
HEALTH 0 · sector 94
DIVIDEND 0 · sector 43

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 46,350 KRW 43,924 KRW -5%

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Frequently asked questions

Is Landrich Holding Limited (2132) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1700 versus a price of HK$0.1690, about +1% (fairly valued).
What is the fair value of 2132?
Our model-based fair value for Landrich Holding Limited is HK$0.1700 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.1690.
What is the quality score of 2132?
Landrich Holding Limited 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 revenue of Landrich Holding Limited (2132)?
Landrich Holding Limited reported trailing-twelve-month revenue of about HK$1.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2132?
The net profit margin of Landrich Holding Limited is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. 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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