Carote Ltd (2549) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Carote Ltd HK$5.94, price HK$3.79, upside +56.7%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
24‑month range HK$3.37 – HK$8.60 · fair‑value band HK$3.39 – HK$10.01 · the HK$3.79 price screens below the HK$5.94 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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Carote Ltd, an investment holding company, engages in the manufacture and sale of kitchenware products in Mainland China, the United States, Western Europe, Japan, Southeast Asia, and internationally. It offers cookware products, such as non-stick pots and pans, cast iron pots, and curated cookware sets; and kitchen utensils, drinkware, and other products.
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Carote Ltd, an investment holding company, engages in the manufacture and sale of kitchenware products in Mainland China, the United States, Western Europe, Japan, Southeast Asia, and internationally. It offers cookware products, such as non-stick pots and pans, cast iron pots, and curated cookware sets; and kitchen utensils, drinkware, and other products. The company sells its products under the CAROTE brand through third-party e-commerce platforms, as well as through wholesale distribution channels. Carote Ltd was founded in 2007 and is headquartered in Hangzhou, China. Carote Ltd is a subsidiary of Yili Investment Holdings Ltd.
Stock analysis
Carote Ltd (2549) currently trades at HK$3.79, while our model-based Fair Value estimate is HK$5.94, implying the stock looks roughly 36.2% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$16.44 per share, and 13 of the 17 models we run sit above the HK$3.79 price.
Bear case: the Dividend Discount group reads lowest at HK$1.64, and 4 of the 17 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$3.39 (bear) to HK$10.01 (bull), the price of HK$3.79 sits inside 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 47/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Carote Ltd reported revenue of 2.2B CNY in FY2025 versus 675M CNY in FY2021, a compound +33.7%/yr. Reported net income was 258M CNY in FY2025, compounding +68.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap HK$2.1B (≈ $267M) · P/E ratio 6.9 · P/S ratio 0.83 · EPS (TTM) HK$0.5477 · Dividend yield 3.7% · Net margin 12.0% · Return on equity 19.4% · Return on assets (EBIT) 21.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 3% fair-value upside, at 57%, 2549 screens cheaper than that median.
Fair Value models
Bear HK$3.39Fair Value HK$5.94Bull HK$10.01
Price HK$3.79 · Upside +56.7%
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0365 per share) are deliberately not added.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
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.0%
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.
+41.1%
’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.
+54.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+51.1%
Dividend (yield on the price)3.7%
Profit margin 2021 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.5% → 12%
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.Furnishings, Fixtures & Appliances · 307 stocks
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). "Carote Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2549
Frequently asked questions
Is Carote Ltd (2549) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$5.94 versus a price of HK$3.79, about +57% upside (undervalued).
What is the fair value of 2549?
Our model-based fair value for Carote Ltd is HK$5.94 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$3.79.
What is the quality score of 2549?
Carote Ltd has a Quality Score of 47/100. 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 Carote Ltd (2549)?
Our model-based price target is the fair value of HK$5.94 (as of Sep 27, 2026) from 17 valuation models. Cautious scenario HK$3.39, optimistic scenario HK$10.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Carote Ltd stock forecast for 2026?
Our models put fair value at HK$5.94, about +57% upside versus a price of HK$3.79 (undervalued). Cautious scenario HK$3.39, optimistic scenario HK$10.01. The calculation is refreshed regularly with new filings.
What is the revenue of Carote Ltd (2549)?
Carote Ltd reported trailing-twelve-month revenue of about 2.2B CNY (latest available figure, as of Sep 27, 2026).
Does Carote Ltd pay a dividend?
Carote Ltd currently shows a dividend yield of about 3.74% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Carote Ltd (2549)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Carote Ltd it is HK$5.94 per share (as of Sep 27, 2026), against a price of HK$3.79. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Carote Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 2549 trades below its calculated fair value: price HK$3.79, fair value HK$5.94, a gap of about +57% (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 2549?
No. The price is what the market pays today (HK$3.79); the fair value is what the company's own numbers justify (HK$5.94). For Carote Ltd the two are HK$2.15 per share apart. That gap is exactly why we show both numbers side by side.
How much is Carote Ltd worth?
The market values Carote Ltd at about HK$2.1B (market capitalisation, as of Sep 27, 2026). Per share that is HK$3.79; our models calculate a fair value of HK$5.94 per share.
What do the bullish and bearish scenarios say about 2549?
Our models span a range for Carote Ltd: cautious scenario HK$3.39, base HK$5.94, optimistic HK$10.01 per share (as of Sep 27, 2026, price HK$3.79). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2549?
Carote Ltd trades at a price-to-earnings ratio of 6.9 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$5.94 is built from several models across several years. Other multiples: P/B 1.3, P/S 0.8, EV/EBITDA 5.3.
How solid is the balance sheet of Carote Ltd (2549)?
Balance-sheet figures for Carote Ltd (as of Sep 27, 2026): return on equity 19.4%. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 2549 from its 52-week high?
Carote Ltd trades at HK$3.79, about 25% below its 52-week high of HK$5.06 and 6% above the low of HK$3.59 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$5.94 is for.
Which stocks are comparable to Carote Ltd?
From the same area (Consumer Cyclical) we also value Midea Group, King Slide Works Co, Gree Electric Appliances, Inc, Haier Smart Home Co, 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 Carote Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$3.79, calculated fair value HK$5.94 (+57%), Quality Score 47/100, from 17 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 2549 calculated?
We run Carote Ltd through 17 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$5.94, 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 15.0 % above its aggregate fair value. Carote Ltd currently trades 36 % 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 Carote Ltd (2549)?
The closing price on Oct 2, 2026 was HK$3.79. Our model-based fair value is HK$5.94, about +57% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Carote Ltd right now?
The model range is unusually wide (HK$3.39 to HK$10.01). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (47/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Carote Ltd
How large is the market capitalisation of Carote Ltd (2549)?
The market capitalisation of Carote Ltd is HK$2.1B (≈ $267M). 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 Carote Ltd (2549)?
The price-to-sales ratio of Carote Ltd is 0.83 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Carote Ltd (2549)?
Earnings per share at Carote Ltd are HK$0.5477 (price ÷ EPS = P/E 6.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Carote Ltd (2549)?
The dividend yield of Carote Ltd is 3.7% (payout 25.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Carote Ltd (2549)?
The net margin of Carote Ltd is 12.0% (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 Carote Ltd (2549)?
The return on equity (ROE) of Carote Ltd is 19.4% (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 Carote Ltd (2549)?
On an EBIT basis the return on assets of Carote Ltd is 21.9% (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 Carote Ltd (2549)?
The operating margin of Carote Ltd is 14.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Carote Ltd (2549)?
Revenue at Carote Ltd is growing +18.0% versus a year earlier (3y avg +41.1%). 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 Carote Ltd (2549)?
Earnings per share at Carote Ltd are growing −30.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Carote Ltd (2549) generate?
The free cash flow of Carote Ltd is −25.7M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Carote Ltd (2549) hold?
Carote Ltd holds more cash than debt, 54.5M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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