2380 (2380) Fair Value & Analysis

Utilities · Market cap HK$33.5B

2 2380 2380 · HK

PriceHK$2.71

Fair ValueHK$4.88

Upside+80.1%

Quality38/100

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Evidence: Medium Range HK$3.94 – HK$6.35

Fair value as of: Jul 2, 2026

From 16 valuation models · updated today

Share price −23.9% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$2.71 – HK$3.61 · fair‑value band HK$3.94 – HK$6.35 · the HK$2.71 price screens below the HK$4.88 fair value. As of Jul 2, 2026.

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Analysis

2380 (2380) currently trades at HK$2.71, while our model-based Fair Value estimate is HK$4.88 — implying the stock looks roughly 80.1% undervalued today. We read business quality at 38/100 (below-average quality), in the Utilities 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, 2380 generated revenue of HK$52.4B at a net margin of 6.5%. Revenue declined 4.6% year over year. It earns a return on equity of 5.3%. Net debt stands at HK$204B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$52.4B

Revenue growth (YoY) -4.6%

Net margin 6.5%

Return on equity 5.3%

Free cash flow −HK$1.4B FY2025

P/E ratio 9.7

More key figures

Operating margin 14.7%

EPS (TTM) HK$0.2100

Dividend yield 6.1%

EPS growth (YoY) -56.4%

Net debt HK$204B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2380 reported revenue of HK$47.8B in FY2025 versus HK$35.9B in FY2021, a compound +7.4%/yr. Reported net income was HK$3.3B in FY2025.

Revenue +7.4%/yr

FY21 HK$35.9B

FY22 HK$44.4B

FY23 HK$46.1B

FY24 HK$56.2B

FY25 HK$47.8B

Net income

FY21 −HK$256M

FY22 HK$2.6B

FY23 HK$3.1B

FY24 HK$3.9B

FY25 HK$3.3B

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Similar stocks

6 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
NextEra Energy, Inc NEE	$86.08	$30.24	-65%
The Southern Company SO	$94.02	$40.76	-57%
Duke Energy Corporation DUK	$121.82	$63.83	-48%
National Grid plc NGG	61,175 ARS	43,418 ARS	-29%
American Electric Power Company AEP	$130.30	$78.20	-40%
Dominion Energy, Inc D	$68.04	$38.74	-43%

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Frequently asked questions

Is 2380 (2380) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$4.88 versus a price of HK$2.71 — about +80% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2380?

Our model-based fair value for 2380 is HK$4.88 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.71.

What is the quality score of 2380?

2380 has a Quality Score of 38/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2380 (2380)?

2380 reported trailing-twelve-month revenue of about HK$52.4B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2380?

The net profit margin of 2380 is about 6.5%, meaning it keeps roughly 6.5% of revenue as net income. Based on the latest reported figures.

Does 2380 pay a dividend?

2380 currently shows a dividend yield of about 6.13% relative to its recent price (as of Jul 2, 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.

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