2193 (2193) Fair Value & Analysis

Industrials · Market cap HK$122M

2 2193 2193 · HK

PriceHK$0.2800

Fair ValueHK$0.3200

Upside+14.3%

Quality62/100

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Evidence: Medium Range HK$0.2400 – HK$0.4000

Fair value as of: Jul 2, 2026

From 10 valuation models · updated today

Share price −28.2% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.2000 – HK$0.4350 · fair‑value band HK$0.2400 – HK$0.4000 · the HK$0.2800 price screens below the HK$0.3200 fair value. As of Jul 2, 2026.

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Analysis

2193 (2193) currently trades at HK$0.2800, while our model-based Fair Value estimate is HK$0.3200 — implying the stock looks roughly 14.3% undervalued today. We read business quality at 62/100 (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: medium) — always confirm before acting.

Over the trailing twelve months, 2193 generated revenue of HK$373M at a net margin of 2.1%. Revenue grew 22.5% year over year. It earns a return on equity of 3.1%. The balance sheet holds a net cash position of HK$164M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$373M

Revenue growth (YoY) +22.5%

Net margin 2.1%

Return on equity 3.1%

Free cash flow −HK$30.5M FY2025

P/E ratio 14.5

More key figures

Operating margin -9.7%

EPS (TTM) HK$-0.0700

EPS growth (YoY) +38.3%

Net cash HK$164M FY2026

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

2193 reported revenue of HK$373M in FY2026 versus HK$408M in FY2022, a compound −2.2%/yr. Reported net income was HK$8.0M in FY2026, compounding −31.8%/yr from FY2022.

Revenue −2.2%/yr

FY22 HK$408M

FY23 HK$453M

FY24 HK$338M

FY25 HK$336M

FY26 HK$373M

Net income −31.8%/yr

FY22 HK$36.9M

FY23 HK$42.1M

FY24 −HK$22.7M

FY25 −HK$21.1M

FY26 HK$8.0M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
Larsen & Toubro Limited LTOD	$0.4415	$0.5700	+29%
Samsung C&T Corporation 028260	520,000 KRW	268,469 KRW	-48%
China State Construction Engineering Corporation 601668	¥4.65	¥17.35	+273%
TopBuild Corp BLD	7,547 MXN	324.01 MXN	-96%
000720 000720	130,300 KRW	55,602 KRW	-57%
United Integrated Services Co 2404	1,205 TWD	1,891 TWD	+57%

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Frequently asked questions

Is 2193 (2193) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.3200 versus a price of HK$0.2800 — about +14% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2193?

Our model-based fair value for 2193 is HK$0.3200 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.2800.

What is the quality score of 2193?

2193 has a Quality Score of 62/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2193 (2193)?

2193 reported trailing-twelve-month revenue of about HK$373M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2193?

The net profit margin of 2193 is about 2.1%, meaning it keeps roughly 2.1% 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.

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