Landrich Holding Limited (2132) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Landrich Holding Limited HK$0.30, price HK$0.16, upside +85.2%, 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$0.0850 – HK$0.4750 · fair‑value band HK$0.2800 – HK$0.3200 · the HK$0.1620 price screens below the HK$0.3000 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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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.
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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.
Stock analysis
Landrich Holding Limited (2132) currently trades at HK$0.1620, while our model-based Fair Value estimate is HK$0.3000, implying the stock looks roughly 46.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$0.5300 per share, and 15 of the 23 models we run sit above the HK$0.1620 price.
Bear case: the Earnings-Based group reads lowest at HK$0.1400, and 8 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.2800 (bear) to HK$0.3200 (bull), the price of HK$0.1620 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 Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Landrich Holding Limited reported revenue of HK$1.1B in FY2026 versus HK$994M in FY2022, a compound +2.8%/yr. Reported net income was HK$12.4M in FY2026, compounding −25.9%/yr from FY2022.
Key figures
Market cap HK$259M (≈ $33.0M) · P/E ratio 14.9 · P/S ratio 0.17 · Net margin 1.1% · Return on equity 3.7% · Return on assets (EBIT) 5.3% · Operating margin 1.1% · Revenue (TTM) HK$1.1B.
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 40% below its 52-week high and 38% 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 85%, 2132 screens cheaper than that median.
Fair Value models
Bear HK$0.2800Fair Value HK$0.3000Bull HK$0.3200
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.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+8.8%
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.
+16.0%
Start year 2020 (pandemic)
Revenue growth 9 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.
+13.8%
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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.
−21.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−21.4%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.9% → 2%
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Compare Landrich Holding Limited with another stock
Price, fair value, quality and upside side by side.
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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.Engineering & Construction · 802 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+85.2% · Top 25%
Profitability
Return on equity (TTM)3.7% · Below median
Return on assets1.8% · Below median
Net margin (TTM)1.1% · Below median
Operating margin (TTM)1.1% · Below median
Growth and dividend
Revenue growth2.8% · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is Landrich Holding Limited (2132) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.3000 versus a price of HK$0.1620, about +85% upside (undervalued).
What is the fair value of 2132?
Our model-based fair value for Landrich Holding Limited is HK$0.3000 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.1620.
What is the quality score of 2132?
Landrich Holding Limited 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 Landrich Holding Limited (2132)?
Our model-based price target is the fair value of HK$0.3000 (as of Sep 27, 2026) from 23 valuation models. Cautious scenario HK$0.2800, optimistic scenario HK$0.3200. It is a calculation from audited fundamentals, not an analyst target.
What is the Landrich Holding Limited stock forecast for 2026?
Our models put fair value at HK$0.3000, about +85% upside versus a price of HK$0.1620 (undervalued). Cautious scenario HK$0.2800, optimistic scenario HK$0.3200. The calculation is refreshed regularly with new filings.
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 Sep 27, 2026).
What growth is priced into Landrich Holding Limited (2132)?
For today's price to be fair in a discounted-cash-flow model, Landrich Holding Limited would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.8 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 2132 use?
Our models discount Landrich Holding Limited at 9.0 %: a base by market capitalisation (nano), damped by beta 0.51, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Landrich Holding Limited that is less than minus 40 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Landrich Holding Limited (2132) delivered so far?
Over the past 5 years revenue at Landrich Holding Limited grew +11.8 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Landrich Holding Limited (2132) growing?
The median revenue growth in the sector is +5.5 % a year. That is the yardstick for the growth priced into Landrich Holding Limited (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Landrich Holding Limited (2132)?
The free-cash-flow yield on the price is 26.39 %: that much free cash flow Landrich Holding Limited produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Landrich Holding Limited (2132)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Landrich Holding Limited it is HK$0.3000 per share (as of Sep 27, 2026), against a price of HK$0.1620. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Landrich Holding Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 2132 trades below its calculated fair value: price HK$0.1620, fair value HK$0.3000, a gap of about +85% (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 2132?
No. The price is what the market pays today (HK$0.1620); the fair value is what the company's own numbers justify (HK$0.3000). For Landrich Holding Limited the two are HK$0.1380 per share apart. That gap is exactly why we show both numbers side by side.
How much is Landrich Holding Limited worth?
The market values Landrich Holding Limited at about HK$259M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.1620; our models calculate a fair value of HK$0.3000 per share.
What do the bullish and bearish scenarios say about 2132?
Our models span a range for Landrich Holding Limited: cautious scenario HK$0.2800, base HK$0.3000, optimistic HK$0.3200 per share (as of Sep 27, 2026, price HK$0.1620). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2132?
Landrich Holding Limited trades at a price-to-earnings ratio of 14.9 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.3000 is built from several models across several years. Other multiples: P/B 0.8, P/S 0.2.
How solid is the balance sheet of Landrich Holding Limited (2132)?
Balance-sheet figures for Landrich Holding Limited (as of Sep 27, 2026): return on equity 3.7%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 2132 from its 52-week high?
Landrich Holding Limited trades at HK$0.1620, about 40% below its 52-week high of HK$0.2700 and 38% above the low of HK$0.1170 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.3000 is for.
Which stocks are comparable to Landrich Holding Limited?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Landrich Holding Limited stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.1620, calculated fair value HK$0.3000 (+85%), Quality Score 58/100, from 23 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 2132 calculated?
We run Landrich Holding Limited through 23 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$0.3000, 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. Landrich Holding Limited currently trades 46 % 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 Landrich Holding Limited (2132)?
The closing price on Sep 30, 2026 was HK$0.1620. Our model-based fair value is HK$0.3000, about +85% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Landrich Holding Limited right now?
The price is below even our cautious bear case (HK$0.2800). 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. The models converge in a tight band (HK$0.2800 to HK$0.3200), unusually little disagreement for a valuation.
Key figures of Landrich Holding Limited
How large is the market capitalisation of Landrich Holding Limited (2132)?
The market capitalisation of Landrich Holding Limited is HK$259M (≈ $33.0M). 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 Landrich Holding Limited (2132)?
The price-to-sales ratio of Landrich Holding Limited is 0.17 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Landrich Holding Limited (2132)?
The net margin of Landrich Holding Limited is 1.1% (fiscal year 2026). 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 Landrich Holding Limited (2132)?
The return on equity (ROE) of Landrich Holding Limited is 3.7% (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 Landrich Holding Limited (2132)?
On an EBIT basis the return on assets of Landrich Holding Limited is 5.3% (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 Landrich Holding Limited (2132)?
The operating margin of Landrich Holding Limited is 1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Landrich Holding Limited (2132)?
Revenue at Landrich Holding Limited is growing +2.8% versus a year earlier (3y avg +5.0%). 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 Landrich Holding Limited (2132)?
Earnings per share at Landrich Holding Limited are growing −10.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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