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Pacific Basin Shipping Limited (2343) Fair Value & Analysis

Industrials · HK · Market cap HK$14.1B

PB Pacific Basin Shipping Limited 2343 · HK
PriceHK$3.25
Fair ValueHK$1.88
Upside-42.2%
Quality61/100
Mixed Growth
Thin margins · 2.8% net margin
Low debt · generates free cash flow
0.37% dividend yield
Trails peers (5/15)
Narrow moat 30/100
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Evidence: High Range HK$1.41 – HK$2.27 Share as image

Fair value as of: Aug 5, 2026

From 26 valuation models · updated today

Fair value updated Aug 5, 2026, revised from HK$0.2400 to HK$1.88 (+683.3%) since Jul 2, 2026. Share price +12.1% over the past month.

A solid business, but screening 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$2.27). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

HK$3.49 HK$1.17 Fair Value HK$1.88 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 5, 2026.

How to read this chart

60‑month range HK$1.17 – HK$3.49 · fair‑value band HK$1.41 – HK$2.27 · the HK$3.25 price screens above the HK$1.88 fair value. Dashed = 300-day average. As of Aug 5, 2026.

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Analysis

Pacific Basin Shipping Limited (2343) currently trades at HK$3.25, while our model-based Fair Value estimate is HK$1.88, implying the stock looks roughly 42.2% overvalued today. We read business quality at 61/100 (solid quality), in the Industrials 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, Pacific Basin Shipping Limited generated revenue of HK$2.1B at a net margin of 2.8%. Revenue declined 18.3% year over year. It earns a return on equity of 3.2%. The balance sheet holds a net cash position of HK$40.1M. Fundamentals as of Aug 5, 2026

Our scenario range runs from HK$1.41 (bear case) to HK$2.27 (bull case); at HK$3.25, the current price sits above that range. The share trades about 9% below its 52-week high and 73% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 69% fair-value upside, at -42%, 2343 screens richer 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 BearBaseBull Evidence
Highest evidence
Growth DCF HK$3.11 HK$4.58 HK$6.70 80
Residual Income HK$2.13 HK$2.13 HK$1.80 76
Rev-Margin DCF HK$1.88 HK$2.62 HK$3.51 74
All 26 models by family
DCF Models
FCF DCF HK$3.02 HK$4.74 HK$7.36 38
Owner Earnings HK$2.78 HK$4.25 HK$6.62 31
5Y Revenue Exit HK$1.88 HK$2.62 HK$3.43 39
5Y EBITDA Exit HK$3.60 HK$5.89 HK$8.66 41
5Y P/E Exit HK$2.04 HK$2.94 HK$3.84 38
10Y Revenue Exit HK$2.29 HK$3.02 HK$4.01 36
10Y EBITDA Exit HK$3.43 HK$5.31 HK$8.01 37
10Y P/E Exit HK$2.37 HK$3.27 HK$4.33 35
Earnings-Based
Graham-Dodd HK$0.6539 HK$2.21 HK$2.94 54
Lynch FV HK$0.4904 HK$0.7357 HK$0.8991 50
PEG = 1.0 HK$0.4904 HK$0.7357 HK$0.8991 46
EPV HK$1.23 HK$1.39 HK$1.55 59
Dividend Discount
Gordon GGM HK$0.6539 HK$1.31 HK$2.13 70
DDM Multi-Stage HK$0.6539 HK$1.14 HK$1.39 61
Multiples
P/E Multiple HK$1.39 HK$1.88 HK$2.29 63
P/S Multiple HK$1.14 HK$1.55 HK$1.96 58
P/B Multiple HK$1.14 HK$1.55 HK$1.96 55
EV/EBIT HK$1.80 HK$2.29 HK$2.78 53
EV/EBITDA HK$4.33 HK$5.64 HK$7.03 54
EV/Revenue HK$1.31 HK$1.72 HK$2.21 43
Asset-Based
NCAV (Graham) HK$1.47 HK$1.96 HK$2.86 50
Growth DCF
Growth DCF HK$3.11 HK$4.58 HK$6.70 80
Rev-Margin DCF HK$1.88 HK$2.62 HK$3.51 74
Economic Profit
Residual Income HK$2.13 HK$2.13 HK$1.80 76
ROIC Compounder HK$1.23 HK$1.39 HK$1.55 72
Growth Earnings
Growth-Adj P/E HK$1.23 HK$1.72 HK$2.21 68

Widest divergence: DCF Models (HK$3.27) versus Earnings-Based (HK$0.7357). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) HK$2.1B
Revenue growth (YoY) -18.3%
Net margin 2.8%
Return on equity 3.2%
Free cash flow HK$148M FY2025
P/E ratio 30.4
More key figures
Operating margin 4.1%
EPS (TTM) HK$0.0100
Dividend yield 0.4%
EPS growth (YoY) -54.9%
Net cash HK$40.1M FY2025

Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 66

Profitability 30
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 99
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

Pacific Basin Shipping Limited, an investment holding company, engages in the provision of dry bulk shipping services in Hong Kong and internationally.

Full company description

Pacific Basin Shipping Limited, an investment holding company, engages in the provision of dry bulk shipping services in Hong Kong and internationally. The company offers shipping services that mainly carry major and minor bulks, including grains, ores, logs/forest products, bauxite, sugar, concentrates, cement and clinkers, coal/coke, fertilizers, alumina, steel, pet-coke, salt, sand and gypsum, and scrap. It also offers shipping consulting, crewing, secretarial, ocean shipping, ship agency, and operation and management services. In addition, the company is involved in the vessel owning and chartering, and convertible bonds issuing activities. It has a fleet of 250 owned and chartered vessels, including 1 Capesize, 106 Handysize and Supramax/Ultramax vessels. The company was founded in 1987 and is headquartered in Wong Chuk Hang, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Pacific Basin Shipping Limited reported revenue of HK$2.1B in FY2025 versus HK$3.0B in FY2021, a compound −8.5%/yr. Reported net income was HK$58.3M in FY2025, compounding −48.8%/yr from FY2021.

Growth Quality 63/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$2.1B
Latest YoY
−19.3%
Avg. growth/yr (3Y)
−14.0%
Avg. growth/yr (5Y)
+7.2%
Avg. growth/yr (22Y)
+18.0%
Revenue −8.5%/yr
FY21 HK$3.0B
FY22 HK$3.3B
FY23 HK$2.3B
FY24 HK$2.6B
FY25 HK$2.1B
Net income −48.8%/yr
FY21 HK$845M
FY22 HK$702M
FY23 HK$109M
FY24 HK$132M
FY25 HK$58.3M

2343 screens 42% overvalued. Compare with Adani Ports and Special Economic Zone Limited →

Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
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Pacific Basin Shipping Limited · Fair Value
HK$1.88 −42%Fair Value
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Cite: Fair Value Calculator (2026). "Pacific Basin Shipping Limited Fair Value". https://www.fairvalue-calculator.com/stock/2343

Peer Group

Marine Shipping · 231 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 61 · Above median
Fair Value upside −43% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Bottom 25%
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.04× · Lower than 75% of peers

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 30.4× · Pricier than 75% of peers
P/B 0.99× · Cheaper than median
P/S (TTM) 0.87× · Cheaper than median
P/FCF 12.2× · Pricier than 75% of peers
EV/EBITDA 7.2× · Pricier than median
PEG 0.48× · 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.

VALUE 0 · sector 22
FUTURE 0 · sector 18
PAST 13 · sector 27
HEALTH 98 · sector 88
DIVIDEND 7 · sector 39

VALUE 0: the price sits above our fair-value range.

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.30 ¥5.58 +69%
Qingdao Port International Co 601298 ¥8.07 ¥16.97 +110%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%

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Frequently asked questions

Is Pacific Basin Shipping Limited (2343) overvalued or undervalued?
As of Aug 5, 2026, our model estimates a fair value of HK$1.88 versus a price of HK$3.25, about −42% (overvalued).
What is the fair value of 2343?
Our model-based fair value for Pacific Basin Shipping Limited is HK$1.88 (as of Aug 5, 2026), built from audited fundamentals. The current price is HK$3.25.
What is the quality score of 2343?
Pacific Basin Shipping Limited has a Quality Score of 61/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Pacific Basin Shipping Limited (2343)?
Pacific Basin Shipping Limited reported trailing-twelve-month revenue of about HK$2.1B (latest available figure, as of Aug 5, 2026).
What is the net profit margin of 2343?
The net profit margin of Pacific Basin Shipping Limited is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does Pacific Basin Shipping Limited pay a dividend?
Pacific Basin Shipping Limited currently shows a dividend yield of about 0.37% relative to its recent price (as of Aug 5, 2026).

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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