2481 (2481) Fair Value & Analysis

Utilities · Market cap HK$751M

2 2481 2481 · HK

PriceHK$2.49

Fair ValueHK$11.73

Upside+371.1%

Quality52/100

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Evidence: Low Range HK$8.79 – HK$14.66

Fair value as of: Jul 2, 2026

From 25 valuation models · updated today

Share price −0.4% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.73 – HK$3.12 · fair‑value band HK$8.79 – HK$14.66 · the HK$2.49 price screens below the HK$11.73 fair value. As of Jul 2, 2026.

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Analysis

2481 (2481) currently trades at HK$2.49, while our model-based Fair Value estimate is HK$11.73 — implying the stock looks roughly 371.1% undervalued today. We read business quality at 52/100 (solid 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: low) — always confirm before acting.

Over the trailing twelve months, 2481 generated revenue of HK$1.5B at a net margin of 11.3%. Revenue declined 8.3% year over year. It earns a return on equity of 15.8%. Net debt stands at HK$81.1M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$1.5B

Revenue growth (YoY) -8.3%

Net margin 11.3%

Return on equity 15.8%

Free cash flow HK$323M FY2025

P/E ratio 3.8

More key figures

Operating margin 15.6%

EPS (TTM) HK$0.3700

Dividend yield 6.9%

EPS growth (YoY) +12.7%

Net debt HK$81.1M FY2024

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2481 reported revenue of HK$1.5B in FY2025 versus HK$1.3B in FY2021, a compound +3.9%/yr. Reported net income was HK$170M in FY2025, compounding +11.4%/yr from FY2021.

Revenue +3.9%/yr

FY21 HK$1.3B

FY22 HK$1.4B

FY23 HK$1.5B

FY24 HK$1.6B

FY25 HK$1.5B

Net income +11.4%/yr

FY21 HK$111M

FY22 HK$96.4M

FY23 HK$149M

FY24 HK$164M

FY25 HK$170M

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Similar stocks

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

Stock	Price	Fair Value	vs Fair Value
Constellation Energy Corporation CEG	$275.53	$87.76	-68%
Vistra Corp VST	$138.54	$23.27	-83%
Adani Power Limited ADANIPOWER	₹232.60	₹54.94	-76%
CGN Power Co 003816	¥4.10	¥3.25	-21%
Gulf Development Public Company GULF	61.25 THB	48.08 THB	-22%
NRG Energy, Inc NRG	$138.91	$56.02	-60%

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Frequently asked questions

Is 2481 (2481) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$11.73 versus a price of HK$2.49 — about +371% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2481?

Our model-based fair value for 2481 is HK$11.73 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.49.

What is the quality score of 2481?

2481 has a Quality Score of 52/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2481 (2481)?

2481 reported trailing-twelve-month revenue of about HK$1.5B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2481?

The net profit margin of 2481 is about 11.3%, meaning it keeps roughly 11.3% of revenue as net income. Based on the latest reported figures.

Does 2481 pay a dividend?

2481 currently shows a dividend yield of about 6.85% 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.