Fenbi Ltd (2469) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Fenbi Ltd HK$1.01, price HK$0.34, upside +200.0%, quality 67 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
45‑month range HK$0.2800 – HK$14.62 · fair‑value band HK$0.8003 – HK$1.30 · the HK$0.3350 price screens below the HK$1.01 fair value. Dashed = 300-day average. As of Sep 30, 2026.
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Fenbi Ltd., an investment holding company, provides non-formal vocational education and training services in the People's Republic of China. The company operates through Tutoring Services, and Sales of Books and Others segments.
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Fenbi Ltd., an investment holding company, provides non-formal vocational education and training services in the People's Republic of China. The company operates through Tutoring Services, and Sales of Books and Others segments. It offers tutoring services through classroom-based teachings to the students who physically attend the lectures in tutoring centers and tutoring bases/campuses, as well as online platforms comprising courses services, membership packages, challenge exercises, etc. It also manufactures and sells books; and offers book printing, health products, and technical services. Fenbi Ltd. was founded in 2015 and is headquartered in Beijing, the People's Republic of China.
Stock analysis
Fenbi Ltd (2469) currently trades at HK$0.3350, while our model-based Fair Value estimate is HK$1.01, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of HK$1.78 per share, and 22 of the 22 models we run sit above the HK$0.3350 price.
Bear case: the Asset-Based group reads lowest at HK$0.4600, and 0 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.8003 (bear) to HK$1.30 (bull), the price of HK$0.3350 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 67/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Fenbi Ltd reported revenue of 2.7B CNY in FY2025 versus 3.4B CNY in FY2021, a compound −6.0%/yr. Reported net income was 198M CNY in FY2025.
Key figures
Market cap HK$717M (≈ $91.4M) · P/S ratio 0.31 · Net margin 7.4% · Return on equity −16.4% · Return on assets (EBIT) −5.3% · Operating margin −13.2% · Revenue (TTM) 2.4B CNY · Revenue growth (YoY) −16.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 90% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 38% fair-value upside, at 200%, 2469 screens cheaper than that median.
Fair Value models
Bear HK$0.8003Fair Value HK$1.01Bull HK$1.30
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.9%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+4.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.2%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−24% → 7%
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Education & Training Services · 126 stocks
Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score67 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on assets−6.5% · Bottom 25%
Net margin (TTM)−8.7% · Bottom 25%
Operating margin (TTM)−13.2% · Bottom 25%
Growth and dividend
Revenue growth−16.3% · Bottom 25%
Valuation Multiplesvs Education & Training Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Fenbi Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2469
Frequently asked questions
Is Fenbi Ltd (2469) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of HK$1.01 versus a price of HK$0.3350, about +200% upside (undervalued).
What is the fair value of 2469?
Our model-based fair value for Fenbi Ltd is HK$1.01 (as of Sep 30, 2026), built from audited fundamentals. The current price: HK$0.3350.
What is the quality score of 2469?
Fenbi Ltd has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Fenbi Ltd (2469)?
Our model-based price target is the fair value of HK$1.01 (as of Sep 30, 2026) from 22 valuation models. Cautious scenario HK$0.8003, optimistic scenario HK$1.30. It is a calculation from audited fundamentals, not an analyst target.
What is the Fenbi Ltd stock forecast for 2026?
Our models put fair value at HK$1.01, about +200% upside versus a price of HK$0.3350 (undervalued). Cautious scenario HK$0.8003, optimistic scenario HK$1.30. The calculation is refreshed regularly with new filings.
What is the revenue of Fenbi Ltd (2469)?
Fenbi Ltd reported trailing-twelve-month revenue of about 2.4B CNY (latest available figure, as of Sep 30, 2026).
What growth is priced into Fenbi Ltd (2469)?
For today's price to be fair in a discounted-cash-flow model, Fenbi Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.7 % per year. As of Sep 30, 2026.
What discount rate (WACC) does the fair value of 2469 use?
Our models discount Fenbi Ltd at 13.3 %: a base by market capitalisation (micro), country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fenbi Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Fenbi Ltd (2469) delivered so far?
Over the past 5 years revenue at Fenbi Ltd grew +4.7 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fenbi Ltd (2469) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Fenbi Ltd (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fenbi Ltd (2469)?
The free-cash-flow yield on the price is 35.30 %: that much free cash flow Fenbi Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fenbi Ltd (2469)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fenbi Ltd it is HK$1.01 per share (as of Sep 30, 2026), against a price of HK$0.3350. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Fenbi Ltd stock overvalued or undervalued in 2026?
As of Sep 30, 2026, 2469 trades below its calculated fair value: price HK$0.3350, fair value HK$1.01, a gap of about +200% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2469?
No. The price is what the market pays today (HK$0.3350); the fair value is what the company's own numbers justify (HK$1.01). For Fenbi Ltd the two are HK$0.6700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fenbi Ltd worth?
The market values Fenbi Ltd at about HK$717M (market capitalisation, as of Sep 30, 2026). Per share that is HK$0.3350; our models calculate a fair value of HK$1.01 per share.
What do the bullish and bearish scenarios say about 2469?
Our models span a range for Fenbi Ltd: cautious scenario HK$0.8003, base HK$1.01, optimistic HK$1.30 per share (as of Sep 30, 2026, price HK$0.3350). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Fenbi Ltd (2469)?
Balance-sheet figures for Fenbi Ltd (as of Sep 30, 2026): return on equity −16.4%. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 2469 from its 52-week high?
Fenbi Ltd trades at HK$0.3350, about 90% below its 52-week high of HK$3.26 and 20% above the low of HK$0.2800 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$1.01 is for.
Which stocks are comparable to Fenbi Ltd?
From the same area (Consumer Defensive) we also value New Oriental Education & Technology Group, TAL Education Group, Laureate Education, Inc, Covista Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Fenbi Ltd stock attractive at the current price?
The data as of Sep 30, 2026: price HK$0.3350, calculated fair value HK$1.01 (+200%), Quality Score 67/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2469 calculated?
We run Fenbi Ltd through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$1.01, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. Fenbi Ltd currently trades 67 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Fenbi Ltd (2469)?
The closing price on Sep 30, 2026 was HK$0.3350. Our model-based fair value is HK$1.01, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fenbi Ltd right now?
The price is below even our cautious bear case (HK$0.8003). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Fenbi Ltd
How large is the market capitalisation of Fenbi Ltd (2469)?
The market capitalisation of Fenbi Ltd is HK$717M (≈ $91.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Fenbi Ltd (2469)?
The price-to-sales ratio of Fenbi Ltd is 0.31 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Fenbi Ltd (2469)?
The net margin of Fenbi Ltd is 7.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Fenbi Ltd (2469)?
The return on equity (ROE) of Fenbi Ltd is −16.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Fenbi Ltd (2469)?
On an EBIT basis the return on assets of Fenbi Ltd is −5.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Fenbi Ltd (2469)?
The operating margin of Fenbi Ltd is −13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fenbi Ltd (2469)?
Revenue at Fenbi Ltd is growing −16.3% versus a year earlier (3y avg −1.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Fenbi Ltd (2469)?
Earnings per share at Fenbi Ltd are growing −22.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Fenbi Ltd (2469) hold?
Fenbi Ltd holds more cash than debt, 805M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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