2388 (2388) Fair Value & Analysis

Financial Services · Market cap HK$447B

2 2388 2388 · HK

PriceHK$42.30

Fair ValueHK$49.33

Upside+16.6%

Quality58/100

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Evidence: High Range HK$37.00 – HK$61.66

Fair value as of: Jul 2, 2026

From 17 valuation models · updated today

Share price −9.4% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$32.37 – HK$47.59 · fair‑value band HK$37.00 – HK$61.66 · the HK$42.30 price screens below the HK$49.33 fair value. As of Jul 2, 2026.

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Analysis

2388 (2388) currently trades at HK$42.30, while our model-based Fair Value estimate is HK$49.33 — implying the stock looks roughly 16.6% undervalued today. We read business quality at 58/100 (solid quality), in the Financial Services 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, 2388 generated revenue of HK$68.7B at a net margin of 58.4%. Revenue declined 2.7% year over year. It earns a return on equity of 11.7%. Net debt stands at HK$7.5B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$68.7B

Revenue growth (YoY) -2.7%

Net margin 58.4%

Return on equity 11.7%

Free cash flow −HK$88.6B FY2025

P/E ratio 11.2

More key figures

Operating margin 69.1%

EPS (TTM) HK$2.10

Dividend yield 5.0%

EPS growth (YoY) -1.2%

Net debt HK$7.5B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2388 reported revenue of HK$68.7B in FY2025 versus HK$76.9B in FY2021, a compound −2.8%/yr. Reported net income was HK$40.1B in FY2025, compounding +13.3%/yr from FY2021.

Revenue −2.8%/yr

FY21 HK$76.9B

FY22 HK$51.9B

FY23 HK$59.2B

FY24 HK$71.8B

FY25 HK$68.7B

Net income +13.3%/yr

FY21 HK$24.3B

FY22 HK$27.3B

FY23 HK$32.7B

FY24 HK$38.2B

FY25 HK$40.1B

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
HDFC Bank Limited HDFCBANK	₹746.85	₹880.28	+18%
PT Bank Central Asia Tbk BBCA	6,225 IDR	6,617 IDR	+6%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI	2,870 IDR	5,740 IDR	+100%
Banco Bradesco S.A BBD	5,120 ARS	10,240 ARS	+100%
KB Financial Group 105560	157,000 KRW	205,701 KRW	+31%
PT Bank Mandiri (Persero) Tbk BMRI	3,710 IDR	7,420 IDR	+100%

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Frequently asked questions

Is 2388 (2388) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$49.33 versus a price of HK$42.30 — about +17% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2388?

Our model-based fair value for 2388 is HK$49.33 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$42.30.

What is the quality score of 2388?

2388 has a Quality Score of 58/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2388 (2388)?

2388 reported trailing-twelve-month revenue of about HK$68.7B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2388?

The net profit margin of 2388 is about 58.4%, meaning it keeps roughly 58.4% of revenue as net income. Based on the latest reported figures.

Does 2388 pay a dividend?

2388 currently shows a dividend yield of about 5.01% 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.