2431 (2431) Fair Value & Analysis

Technology · Market cap HK$3.6B

2 2431 2431 · HK

PriceHK$8.78

Fair ValueHK$2.23

Upside-74.6%

Quality26/100

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Evidence: Low Range HK$1.47 – HK$2.78

Fair value as of: Jul 2, 2026

From 1 valuation models · updated today

Share price −10.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$8.01 – HK$28.86 · fair‑value band HK$1.47 – HK$2.78 · the HK$8.78 price screens above the HK$2.23 fair value. As of Jul 2, 2026.

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Analysis

2431 (2431) currently trades at HK$8.78, while our model-based Fair Value estimate is HK$2.23 — implying the stock looks roughly 74.6% overvalued today. We read business quality at 26/100 (below-average quality), in the Technology 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: low).

Over the trailing twelve months, 2431 generated revenue of HK$759M at a net margin of -52.7%. Revenue declined 1.1% year over year. It earns a return on equity of -36.7%. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$759M

Revenue growth (YoY) -1.1%

Net margin -52.7%

Return on equity -36.7%

Free cash flow −HK$573M FY2025

Operating margin -59.2%

More key figures

EPS (TTM) HK$-0.3800

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2431 reported revenue of HK$759M in FY2025 versus HK$175M in FY2021, a compound +44.3%/yr. Reported net income was −HK$400M in FY2025.

Revenue +44.3%/yr

FY21 HK$175M

FY22 HK$279M

FY23 HK$476M

FY24 HK$654M

FY25 HK$759M

Net income

FY21 −HK$132M

FY22 −HK$215M

FY23 −HK$197M

FY24 −HK$216M

FY25 −HK$400M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
Microsoft Corporation MSF	€379.75	€183.26	-52%
MSFT MSFT	7,019 MXN	4,222 MXN	-40%
Oracle Corporation ORCL	$213.68	$43.87	-79%
Palantir Technologies Inc PTX	€134.20	€19.01	-86%
Palo Alto Networks, Inc 5AP	€252.70	€34.18	-86%
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Frequently asked questions

Is 2431 (2431) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$2.23 versus a price of HK$8.78 — about −75% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2431?

Our model-based fair value for 2431 is HK$2.23 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$8.78.

What is the quality score of 2431?

2431 has a Quality Score of 26/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2431 (2431)?

2431 reported trailing-twelve-month revenue of about HK$759M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2431?

The net profit margin of 2431 is about -52.7%, meaning it is currently running at a net loss. 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.

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