EN DE

Hbm Holdings Ltd (2142) Fair Value & Analysis

Healthcare · HK · Market cap HK$9.0B

HH Hbm Holdings Ltd 2142 · HK
PriceHK$14.49
Fair ValueHK$11.32
Upside-21.9%
Quality73/100
Watch Hbm Holdings Ltd for free, get notified when fair value or trend changes. Watch for free
Mixed Growth
Highly profitable · 57.8% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Wide moat 89/100
Evidence: High Range HK$8.98 – HK$14.06 Share as image

Fair value as of: Aug 20, 2026

From 24 valuation models · updated today

Fair value updated Aug 20, 2026, revised from HK$1.82 to HK$11.32 (+522.0%) since Aug 15, 2026. Share price +23.3% over the past month.

A solid business, but screening 22% overvalued on our models.

Fair value for all 35,000+ stocks, review alerts and the diversification check: 14 days of Pro free, no card.

What matters now

  • A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (HK$14.06). The favourable scenario is already priced in.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

HK$17.89 HK$0.9000 Fair Value HK$11.32 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range HK$0.9000 – HK$17.89 · fair‑value band HK$8.98 – HK$14.06 · the HK$14.49 price screens above the HK$11.32 fair value. Dashed = 300-day average. As of Aug 20, 2026.

Full chart & analysis →

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

Analysis

Hbm Holdings Ltd (2142) currently trades at HK$14.49, while our model-based Fair Value estimate is HK$11.32, implying the stock looks roughly 21.9% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Healthcare 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: high).

Over the trailing twelve months, Hbm Holdings Ltd generated revenue of HK$158M at a net margin of 57.8%. Revenue grew 293.5% year over year. It earns a return on equity of 37.6%. The balance sheet holds a net cash position of HK$320M. Fundamentals as of Aug 20, 2026

Our scenario range runs from HK$8.98 (bear case) to HK$14.06 (bull case); at HK$14.49, the current price sits above 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 19% below its 52-week high and 93% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -63% fair-value upside, at -22%, 2142 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (HK$0.2900 to HK$5.19). Read the values as a conservative anchor, not as a price target.
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
Growth DCF HK$1.70 HK$2.83 HK$4.64 80
Rev-Margin DCF HK$1.22 HK$1.70 HK$2.72 74
ROIC Compounder HK$1.25 HK$1.38 HK$1.48 72
All 24 models by family
DCF Models
FCF DCF HK$1.79 HK$2.50 HK$4.73 38
Owner Earnings HK$1.92 HK$3.70 HK$7.30 31
5Y Revenue Exit HK$1.15 HK$1.54 HK$2.35 39
5Y EBITDA Exit HK$1.61 HK$2.47 HK$4.15 41
5Y P/E Exit HK$2.17 HK$4.41 HK$7.47 38
10Y Revenue Exit HK$1.34 HK$2.11 HK$2.52 36
10Y EBITDA Exit HK$1.68 HK$3.07 HK$5.47 37
10Y P/E Exit HK$2.08 HK$4.25 HK$7.87 35
Earnings-Based
Graham-Dodd HK$0.7400 HK$5.19 HK$7.29 54
Lynch FV HK$2.68 HK$3.83 HK$4.98 50
PEG = 1.0 HK$2.68 HK$3.83 HK$4.98 46
EPV HK$1.25 HK$1.38 HK$1.48 59
Multiples
P/E Multiple HK$1.81 HK$2.41 HK$3.01 63
P/S Multiple HK$0.5000 HK$0.6600 HK$0.8300 58
P/B Multiple HK$1.40 HK$1.86 HK$2.33 55
EV/EBIT HK$1.69 HK$2.10 HK$2.51 53
EV/EBITDA HK$1.51 HK$1.86 HK$2.20 54
EV/Revenue HK$0.8600 HK$1.03 HK$1.20 43
Asset-Based
NCAV (Graham) HK$0.2200 HK$0.2900 HK$0.4400 50
Growth DCF
Growth DCF HK$1.70 HK$2.83 HK$4.64 80
Rev-Margin DCF HK$1.22 HK$1.70 HK$2.72 74
Economic Profit
Residual Income HK$0.7200 HK$0.9700 HK$5.46 61
ROIC Compounder HK$1.25 HK$1.38 HK$1.48 72
Growth Earnings
Growth-Adj P/E HK$3.56 HK$5.09 HK$6.61 68

Widest divergence: Growth Earnings (HK$5.09) versus Asset-Based (HK$0.2900). Highest evidence: Growth DCF (80).

Notify me when 2142 reaches fair value

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.

Key figures & financial health

Revenue (TTM) HK$158M
Revenue growth (YoY) +294%
Net margin 57.8%
Return on equity 37.6%
Free cash flow HK$69.6M FY2025
P/E ratio 11.5 as of Jul 2, 2026
More key figures
Operating margin 21.7%
EPS (TTM) HK$0.0900
EPS growth (YoY) +1,132%
Net cash HK$320M FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 73/100

Of which business quality 72 · Market factors (momentum, volatility) 53

Profitability 71
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 19
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 38
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

HBM Holdings Limited, a biopharmaceutical company, engages in the discovery, development, and commercialization of antibody therapeutics focusing on immunology and oncology in Mainland China, the United States, Europe, and internationally.

Full company description

HBM Holdings Limited, a biopharmaceutical company, engages in the discovery, development, and commercialization of antibody therapeutics focusing on immunology and oncology in Mainland China, the United States, Europe, and internationally. It develops the Harbour Mice Platform, which generates human monoclonal antibodies in two heavy and two light chain H2L2 and heavy chain formats. The company is developing Batoclimab (HBM9161), a human monoclonal antibody that selectively binds and inhibits the neonatal fragment crystallizable receptor for treating myasthenia gravis; Porustobart HBM4003, a human anti-CTLA-4 antibody against cytotoxic T-lymphocyte-associated antigen-4 for treating melanoma, colorectal cancer, hepatocellular carcinoma, and neuroendocrine neoplasm. It is developing HBM7020 for treating hepatocellular carcinoma and autoimmune diseases; HBM9378 for the treatment of asthma and chronic obstructive pulmonary disease; and HBM1020, HBM7022, HBM7008, HBM9027, HBM7004, and HBM9033 for treating solid tumors. The company has a strategic collaboration with Evinova to apply AI and digital technologies to enhance the efficiency of biologics development. The company was incorporated in 2016 and is based in Suzhou, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hbm Holdings Ltd reported revenue of HK$158M in FY2025 versus HK$4.3M in FY2021, a compound +146.2%/yr. Reported net income was HK$91.5M in FY2025.

Growth Quality 92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$158M
Latest YoY
+315.2%
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.
+57.3%
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.
+62.2%
Avg. growth/yr (7Y) ⓘ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.
+94.9%
Revenue +146.2%/yr
FY21 HK$4.3M
FY22 HK$40.7M
FY23 HK$89.5M
FY24 HK$38.1M
FY25 HK$158M
Net income
FY21 −HK$138M
FY22 −HK$137M
FY23 HK$22.8M
FY24 HK$2.8M
FY25 HK$91.5M

2142 screens 22% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
Share or link this analysis
𝕏 Post WhatsApp LinkedIn Reddit
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Hbm Holdings Ltd · Fair Value
HK$11.32 −22%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Hbm Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2142

Peer Group

Biotechnology · 616 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 73 · Top 25%
Fair Value upside −22% · Above median
Return on equity (TTM) 38% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 58% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 294% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 11.5× · Cheaper than 75% of peers
P/B 3.13× · Pricier than median
P/S (TTM) 7.27× · Pricier than median
P/FCF 16.5× · Pricier than 75% of peers
EV/EBITDA 9.4× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE4 · sector 0
FUTURE100 · sector 0
PAST100 · sector 0
HEALTH98 · sector 97
DIVIDEND0 · sector 28

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 Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $525.73 $278.78 -47%
Samsung Biologics Co 207940 1,549,000 KRW 1,055,793 KRW -32%
Celltrion, Inc 068270 202,000 KRW 74,519 KRW -63%
WuXi Biologics (Cayman) Inc 2269 HK$45.70 HK$30.58 -33%
Innovent Biologics, Inc 1801 HK$95.55 HK$19.68 -79%
Genmab A/S GMAB kr 2,104 kr 250.07 -88%
Sino Biopharmaceutical Limited 1177 HK$4.87 HK$3.37 -31%
RemeGen Co 688331 ¥131.87 ¥23.19 -82%
ALTEOGEN Inc 196170 314,000 KRW 39,476 KRW -87%
Biocon Limited BIOCON ₹417.50 ₹52.10 -88%

Compare Hbm Holdings Ltd with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Healthcare stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Hbm Holdings Ltd (2142) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of HK$11.32 versus a price of HK$14.49, about −22% (overvalued).
What is the fair value of 2142?
Our model-based fair value for Hbm Holdings Ltd is HK$11.32 (as of Aug 20, 2026), built from audited fundamentals. The current price: HK$14.49.
What is the quality score of 2142?
Hbm Holdings Ltd has a Quality Score of 73/100. 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 Hbm Holdings Ltd (2142)?
Hbm Holdings Ltd reported trailing-twelve-month revenue of about HK$158M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of 2142?
The net profit margin of Hbm Holdings Ltd is about 57.8%, meaning it keeps roughly 57.8% 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.

14 days Pro free · no card

Track Hbm Holdings Ltd and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.