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Regina Miracle Intl (Hldg) Ltd (2199) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$2.2B

RM Regina Miracle Intl (Hldg) Ltd 2199 · HK
PriceHK$2.46
Fair ValueHK$5.01
Upside+104.1%
Quality57/100
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Mixed Growth
Thin margins · 3.7% net margin
Moderate debt · generates free cash flow
Ranks above peers (10/14)
Narrow moat 28/100
Evidence: High Range HK$3.01 – HK$6.36 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 3 days ago

Share price +41.9% over the past month.

A solid business, screening 104% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$3.01). The market is more pessimistic than our downside scenario.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$3.01 to HK$6.36) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$6.42 HK$1.41 Fair Value HK$5.01 Jun 2020 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$1.41 – HK$6.42 · fair‑value band HK$3.01 – HK$6.36 · the HK$2.46 price screens below the HK$5.01 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Regina Miracle Intl (Hldg) Ltd (2199) currently trades at HK$2.46, while our model-based Fair Value estimate is HK$5.01, implying the stock looks roughly 104.1% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical 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, Regina Miracle Intl (Hldg) Ltd generated revenue of HK$7.7B at a net margin of 3.7%. Revenue grew 0.4% year over year. It earns a return on equity of 9.0%. Net debt stands at HK$3.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$3.01 (bear case) to HK$6.36 (bull case); at HK$2.46, the current price sits below 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 4% below its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 27% fair-value upside, at 104%, 2199 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
Growth DCF HK$4.28 HK$6.49 HK$9.39 80
Residual Income HK$2.14 HK$2.33 HK$3.02 76
Rev-Margin DCF HK$2.99 HK$5.33 HK$7.81 74
All 24 models by family
DCF Models
FCF DCF HK$4.09 HK$6.44 HK$9.65 38
Owner Earnings HK$0.7200 HK$1.80 HK$3.27 31
5Y Revenue Exit HK$2.99 HK$5.22 HK$7.95 39
5Y EBITDA Exit HK$4.74 HK$8.26 HK$12.19 41
5Y P/E Exit HK$2.28 HK$3.98 HK$5.64 38
10Y Revenue Exit HK$3.24 HK$5.26 HK$7.63 36
10Y EBITDA Exit HK$4.43 HK$7.24 HK$10.58 37
10Y P/E Exit HK$2.94 HK$4.44 HK$6.02 35
Earnings-Based
Graham-Dodd HK$1.57 HK$3.24 HK$4.09 54
EPV HK$1.75 HK$2.36 HK$2.90 59
Dividend Discount
Gordon GGM HK$0.4100 HK$0.6000 HK$0.7800 70
DDM Multi-Stage HK$0.4100 HK$0.5800 HK$0.7600 61
Multiples
P/E Multiple HK$3.81 HK$5.09 HK$6.36 63
P/S Multiple HK$2.95 HK$3.93 HK$4.91 58
P/B Multiple HK$2.95 HK$3.93 HK$4.91 55
EV/EBIT HK$4.96 HK$7.34 HK$9.71 53
EV/EBITDA HK$6.23 HK$9.03 HK$11.82 54
EV/Revenue HK$2.64 HK$4.70 HK$6.76 43
Asset-Based
NCAV (Graham) HK$1.27 HK$1.70 HK$2.54 50
Growth DCF
Growth DCF HK$4.28 HK$6.49 HK$9.39 80
Rev-Margin DCF HK$2.99 HK$5.33 HK$7.81 74
Economic Profit
Residual Income HK$2.14 HK$2.33 HK$3.02 76
ROIC Compounder HK$1.75 HK$2.36 HK$3.06 72
Growth Earnings
Growth-Adj P/E HK$2.78 HK$3.97 HK$5.16 68

Widest divergence: Growth DCF (HK$5.33) versus Dividend Discount (HK$0.5800). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$7.7B
Revenue growth (YoY) +0.4%
Net margin 3.7%
Return on equity 9.0%
Free cash flow HK$772M FY2025
P/E ratio 7.8 as of Jul 2, 2026
More key figures
Operating margin 1.2%
EPS (TTM) HK$0.2100
EPS growth (YoY) +18.6%
Net debt HK$3.4B FY2026

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

Quality Score breakdown

Overall quality 57/100

Of which business quality 56 · Market factors (momentum, volatility) 66

Profitability 40
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 82
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

Regina Miracle International (Holdings) Limited, an investment holding company, designs, manufactures, and trades in a range of intimate wear and sports products. The company operates through four segments: Intimate Wear, Sports Products, Consumer Electronics Components, and Bra Pads and Other Accessory Products.

Full company description

Regina Miracle International (Holdings) Limited, an investment holding company, designs, manufactures, and trades in a range of intimate wear and sports products. The company operates through four segments: Intimate Wear, Sports Products, Consumer Electronics Components, and Bra Pads and Other Accessory Products. The company offers bras, bra tops, panties, shapewear, and swimwear; sports bras, leggings, and functional sportswear; virtual reality headsets, and tablet; and bra pads, one-piece moulded hats, footwear, and other accessory products. It is involved in the manufacturing of fabric masks and semi-finished goods; and provision of sales agency and information technology services. The company operates in the United States, Hong Kong, the People's Republic of China, Europe, Japan, Malaysia, Indonesia, Singapore, the Philippines, Vietnam, Thailand, Bangladesh, Sri Lanka, India, Taiwan, Canada, Australia, and internationally. The company was founded in 1998 and is headquartered in Kwai Chung, Hong Kong. Regina Miracle International (Holdings) Limited operates as a subsidiary of Regent Marvel Investment Holdings Limited.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Regina Miracle Intl (Hldg) Ltd reported revenue of HK$7.7B in FY2026 versus HK$8.3B in FY2022, a compound −1.9%/yr. Reported net income was HK$283M in FY2026, compounding −14.1%/yr from FY2022.

Growth Quality 64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
HK$7.7B
Latest YoY
−1.6%
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.
−0.7%
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.
+5.3%
Avg. growth/yr (13Y) 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.
+7.8%
Revenue −1.9%/yr
FY22 HK$8.3B
FY23 HK$7.9B
FY24 HK$7.0B
FY25 HK$7.8B
FY26 HK$7.7B
Net income −14.1%/yr
FY22 HK$521M
FY23 HK$383M
FY24 HK$143M
FY25 HK$184M
FY26 HK$283M
Character of growth · EPS growth decomposed (2015-2026) −5.6 % p.a.
Revenue per share +3.7 pp

of which total revenue +5.5 pp · buybacks/dilution −1.8 pp

EBIT margin −2.4 pp
Tax rate +0.3 pp
Residual (interest, one-offs) −7.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Regina Miracle Intl (Hldg) Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2199

Peer Group

Apparel Manufacturing · 214 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 57 · Above median
Fair Value upside +104% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 0% · Below median
Dividend yield (TTM) 2.6% · Below median
Debt / equity 1.15× · Higher than 75% of peers

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 7.8× · Cheaper than 75% of peers
P/B 0.71× · Cheaper than median
P/S (TTM) 0.29× · Cheaper than median
P/FCF 0.4× · Cheaper than median
EV/EBITDA 5.6× · Cheaper than median

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 100 · sector 30
FUTURE 2 · sector 5
PAST 36 · sector 21
HEALTH 42 · sector 98
DIVIDEND 52 · sector 55

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.

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10 more Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Frequently asked questions

Is Regina Miracle Intl (Hldg) Ltd (2199) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$5.01 versus a price of HK$2.46, about +104% (undervalued).
What is the fair value of 2199?
Our model-based fair value for Regina Miracle Intl (Hldg) Ltd is HK$5.01 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.46.
What is the quality score of 2199?
Regina Miracle Intl (Hldg) Ltd has a Quality Score of 57/100. 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 Regina Miracle Intl (Hldg) Ltd (2199)?
Regina Miracle Intl (Hldg) Ltd reported trailing-twelve-month revenue of about HK$7.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2199?
The net profit margin of Regina Miracle Intl (Hldg) Ltd is about 3.7%, meaning it keeps roughly 3.7% 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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