YesAsia Holdings Ltd (2209) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of YesAsia Holdings Ltd HK$9.28, price HK$3.40, upside +172.9%, quality 57 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$0.4225 – HK$7.14 · fair‑value band HK$3.53 – HK$11.67 · the HK$3.40 price screens below the HK$9.28 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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YesAsia Holdings Limited, an investment holding company, engages in trading of Asian fashion and lifestyle, beauty, cosmetics, accessories, and entertainment products. It also provides logistic, warehouse, and ancillary services.
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YesAsia Holdings Limited, an investment holding company, engages in trading of Asian fashion and lifestyle, beauty, cosmetics, accessories, and entertainment products. It also provides logistic, warehouse, and ancillary services. In addition, the company involved in business-to-business and business-to-consumer and e-commerce sales through yesasia.com; yesstyle.com; and asianbeautywholesale.com websites. The company operates in France, Germany, Spain, Italy, the Netherlands, the United States, Poland, Belgium, Other EU countries, South Korea, Hong Kong, Canada, United Kingdom, Australia, Mexico, United Arab Emirates, and internationally. YesAsia Holdings Limited was founded in 1997 and is headquartered in Kwai Chung, Hong Kong.
Stock analysis
YesAsia Holdings Ltd (2209) currently trades at HK$3.40, while our model-based Fair Value estimate is HK$9.28, implying the stock looks roughly 63.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$20.26 per share, and 20 of the 26 models we run sit above the HK$3.40 price.
Bear case: the Asset-Based group reads lowest at HK$1.01, and 6 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$3.53 (bear) to HK$11.67 (bull), the price of HK$3.40 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 57/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
YesAsia Holdings Ltd reported revenue of $502M in FY2025 versus $162M in FY2021, a compound +32.6%/yr. Reported net income was $23.2M in FY2025.
Key figures
Market cap HK$1.4B (≈ $183M) · P/E ratio 7.9 · P/S ratio 0.37 · EPS (TTM) HK$0.4282 · Dividend yield 0.4% · Net margin 4.6% · Return on equity 34.8% · Return on assets (EBIT) 8.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 45% below its 52-week high and 43% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 173%, 2209 screens cheaper than that median.
Fair Value models
Bear HK$3.53Fair Value HK$9.28Bull HK$11.67
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0128 per share) are deliberately not added.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+45.0%
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.
+57.4%
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.
+23.7%
Start year 2020 (pandemic)
Revenue growth 7 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.
+28.8%
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’21
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’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+17.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.9%
Dividend (yield on the price)0.4%
Profit margin 2020 to 2025 ⓘ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.8% → 6%
2025 sits 69% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
+24.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +21.4% a year for the price.
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.Internet Retail · 103 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+172.9% · Top 25%
Profitability
Return on equity (TTM)34.8% · Top 25%
Return on assets14.1% · Top 25%
Net margin (TTM)4.6% · Above median
Operating margin (TTM)5.2% · Above median
Growth and dividend
Revenue growth41.2% · Top 25%
Dividend yield (TTM)0.4% · Bottom 25%
Valuation Multiplesvs Internet Retail median · lower = cheaper
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Is YesAsia Holdings Ltd (2209) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$9.28 versus a price of HK$3.40, about +173% upside (undervalued).
What is the fair value of 2209?
Our model-based fair value for YesAsia Holdings Ltd is HK$9.28 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$3.40.
What is the quality score of 2209?
YesAsia Holdings 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 price target for YesAsia Holdings Ltd (2209)?
Our model-based price target is the fair value of HK$9.28 (as of Sep 27, 2026) from 26 valuation models. Cautious scenario HK$3.53, optimistic scenario HK$11.67. It is a calculation from audited fundamentals, not an analyst target.
What is the YesAsia Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$9.28, about +173% upside versus a price of HK$3.40 (undervalued). Cautious scenario HK$3.53, optimistic scenario HK$11.67. The calculation is refreshed regularly with new filings.
What is the revenue of YesAsia Holdings Ltd (2209)?
YesAsia Holdings Ltd reported trailing-twelve-month revenue of about $502M (latest available figure, as of Sep 27, 2026).
Does YesAsia Holdings Ltd pay a dividend?
YesAsia Holdings Ltd currently shows a dividend yield of about 0.38% relative to its recent price (as of Sep 27, 2026).
What growth is priced into YesAsia Holdings Ltd (2209)?
For today's price to be fair in a discounted-cash-flow model, YesAsia Holdings Ltd would have to grow free cash flow by +24.3 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.7 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 2209 use?
Our models discount YesAsia Holdings Ltd at 13.3 %: a base by market capitalisation (micro), 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 YesAsia Holdings Ltd that is +24.3 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has YesAsia Holdings Ltd (2209) delivered so far?
Over the past 5 years revenue at YesAsia Holdings Ltd grew +23.7 % a year. The price currently implies +24.3 % 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 YesAsia Holdings Ltd (2209) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into YesAsia Holdings Ltd (+24.3 % 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 YesAsia Holdings Ltd (2209)?
The free-cash-flow yield on the price is 3.33 %: that much free cash flow YesAsia Holdings Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of YesAsia Holdings Ltd (2209)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For YesAsia Holdings Ltd it is HK$9.28 per share (as of Sep 27, 2026), against a price of HK$3.40. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is YesAsia Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 2209 trades below its calculated fair value: price HK$3.40, fair value HK$9.28, a gap of about +173% (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 2209?
No. The price is what the market pays today (HK$3.40); the fair value is what the company's own numbers justify (HK$9.28). For YesAsia Holdings Ltd the two are HK$5.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is YesAsia Holdings Ltd worth?
The market values YesAsia Holdings Ltd at about HK$1.4B (market capitalisation, as of Sep 27, 2026). Per share that is HK$3.40; our models calculate a fair value of HK$9.28 per share.
What do the bullish and bearish scenarios say about 2209?
Our models span a range for YesAsia Holdings Ltd: cautious scenario HK$3.53, base HK$9.28, optimistic HK$11.67 per share (as of Sep 27, 2026, price HK$3.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2209?
YesAsia Holdings Ltd trades at a price-to-earnings ratio of 7.9 (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$9.28 is built from several models across several years. Other multiples: P/B 2.3, P/S 0.4, EV/EBITDA 4.8.
How solid is the balance sheet of YesAsia Holdings Ltd (2209)?
Balance-sheet figures for YesAsia Holdings Ltd (as of Sep 27, 2026): return on equity 34.8%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 2209 from its 52-week high?
YesAsia Holdings Ltd trades at HK$3.40, about 45% below its 52-week high of HK$6.16 and 43% above the low of HK$2.37 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$9.28 is for.
Which stocks are comparable to YesAsia Holdings Ltd?
From the same area (Consumer Cyclical) we also value Amazon.com, Inc, Alibaba Group, MercadoLibre, Inc, DoorDash, Inc, 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 YesAsia Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$3.40, calculated fair value HK$9.28 (+173%), Quality Score 57/100, from 26 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 2209 calculated?
We run YesAsia Holdings Ltd through 26 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$9.28, 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. YesAsia Holdings Ltd currently trades 63 % 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 YesAsia Holdings Ltd (2209)?
The closing price on Sep 30, 2026 was HK$3.40. Our model-based fair value is HK$9.28, about +173% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with YesAsia Holdings Ltd right now?
The price is below even our cautious bear case (HK$3.53). The market is more pessimistic than our downside scenario. The model range is unusually wide (HK$3.53 to HK$11.67). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (57/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of YesAsia Holdings Ltd
How large is the market capitalisation of YesAsia Holdings Ltd (2209)?
The market capitalisation of YesAsia Holdings Ltd is HK$1.4B (≈ $183M). 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 YesAsia Holdings Ltd (2209)?
The price-to-sales ratio of YesAsia Holdings Ltd is 0.37 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of YesAsia Holdings Ltd (2209)?
Earnings per share at YesAsia Holdings Ltd are HK$0.4282 (price ÷ EPS = P/E 7.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of YesAsia Holdings Ltd (2209)?
The dividend yield of YesAsia Holdings Ltd is 0.4% (payout 3.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of YesAsia Holdings Ltd (2209)?
The net margin of YesAsia Holdings Ltd is 4.6% (fiscal year 2025). 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 YesAsia Holdings Ltd (2209)?
The return on equity (ROE) of YesAsia Holdings Ltd is 34.8% (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 YesAsia Holdings Ltd (2209)?
On an EBIT basis the return on assets of YesAsia Holdings Ltd is 8.1% (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 YesAsia Holdings Ltd (2209)?
The operating margin of YesAsia Holdings Ltd is 5.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at YesAsia Holdings Ltd (2209)?
Revenue at YesAsia Holdings Ltd is growing +41.2% versus a year earlier (3y avg +57.4%). 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 YesAsia Holdings Ltd (2209)?
Earnings per share at YesAsia Holdings Ltd are growing +16.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does YesAsia Holdings Ltd (2209) carry?
The net debt of YesAsia Holdings Ltd is $15.5M (fiscal year 2025, ≈ 2.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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