China Resources Beverage (Holdings) Company (2460) Fair Value & Analysis
Consumer Defensive · HK · Market cap HK$18.1B
Fair value as of: Aug 5, 2026
From 23 valuation models · updated 5 days ago
Share price +9.7% over the past month.
Below-average quality, and screening another 20% overvalued on our models.
What matters now
- Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (HK$4.39 to HK$8.16) leaves room in how you read the outcome.
Price vs Fair Value (22 months)
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
22‑month range HK$6.93 – HK$15.22 · fair‑value band HK$4.39 – HK$8.16 · the HK$7.90 price screens above the HK$6.28 fair value. Dashed = 300-day average. As of Aug 5, 2026.
Analysis
China Resources Beverage (Holdings) Company (2460) currently trades at HK$7.90, while our model-based Fair Value estimate is HK$6.28, implying the stock looks roughly 20.5% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Consumer Defensive 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: medium).
Over the trailing twelve months, China Resources Beverage (Holdings) Company generated revenue of HK$11.0B at a net margin of 9.0%. Revenue declined 18.8% year over year. It earns a return on equity of 8.7%. The balance sheet holds a net cash position of HK$1.1B. Fundamentals as of Aug 5, 2026
Our scenario range runs from HK$4.39 (bear case) to HK$8.16 (bull case); at HK$7.90, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 41% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -14% fair-value upside, at -20%, 2460 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.
All 23 models by family
Widest divergence: Dividend Discount (HK$15.97) versus Growth DCF (HK$0.5800). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 35
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
China Resources Beverage (Holdings) Company Limited operates as a ready-to-drink soft beverage company in China. The company manufactures and sells packaged drinking water products, including bottled water and barreled water products under the C'estbon, L'eau, Bonjour Forêt, Jialinshan, and FEEL brands; and purified water; mineral water; and beverages.
Full company description
China Resources Beverage (Holdings) Company Limited operates as a ready-to-drink soft beverage company in China. The company manufactures and sells packaged drinking water products, including bottled water and barreled water products under the C'estbon, L'eau, Bonjour Forêt, Jialinshan, and FEEL brands; and purified water; mineral water; and beverages. It also provides tea beverage products, such as herbal beverages under the Zhi Ben Qing Run brand; sugar-free tea beverages under the Zuo Wei Cha Shi brand; and milk tea beverages under the Tea of Wish brand name. In addition, the company offers juice beverage products under the Mi Shui series and Holiday Moment brand names; and other beverages comprising sports drinks and coffee beverages under the Mulene name. It sells its products through category-specific distributors, food service providers, and special-channel operators. The company was incorporated in 1995 and is headquartered in Shenzhen, China. China Resources Beverage (Holdings) Company Limited operates as a subsidiary of CRH (Beverage) Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China Resources Beverage (Holdings) Company reported revenue of HK$10.7B in FY2025 versus HK$11.3B in FY2021, a compound −1.4%/yr. Reported net income was HK$960M in FY2025, compounding +2.8%/yr from FY2021.
2460 screens 20% overvalued. Compare with The Coca-Cola Company →
Peer Group
Beverages - Non-Alcoholic · 92 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.
Valuation Multiples vs Beverages - Non-Alcoholic median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Beverages - Non-Alcoholic stocks, each showing price versus our Fair Value estimate (as of Aug 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The Coca-Cola Company KO | $87.05 | $36.57 | -58% |
| PepsiCo, Inc PEP | $139.02 | $106.91 | -23% |
| Monster Beverage Corporation MNST | $97.50 | $35.82 | -63% |
| Nongfu Spring Co 9633 | HK$41.44 | HK$30.72 | -26% |
| Coca-Cola Europacific Partners PLC CCEP | €92.10 | €85.41 | -7% |
| Keurig Dr Pepper Inc KDP | $31.25 | $30.99 | -1% |
| Coca-Cola FEMSA, S.A. KOF | $102.04 | $106.45 | +4% |
| Coca-Cola HBC AG EEE | €57.90 | €52.82 | -9% |
| Varun Beverages Limited VBL | ₹495.70 | ₹187.49 | -62% |
| Eastroc Beverage (Group) Co 605499 | ¥124.43 | ¥107.57 | -14% |
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Frequently asked questions
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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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