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APT Electronics Co Ltd (2551) Fair Value & Analysis

Technology · HK · Market cap HK$1.1B

AE APT Electronics Co Ltd 2551 · HK
PriceHK$1.54
Fair ValueHK$2.67
Upside+73.4%
Quality40/100
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Expensive Growth
Thin margins · 2.6% net margin
Low debt · negative free cash flow
1.84% dividend yield
Mixed vs. peers (7/13)
Narrow moat 21/100
Evidence: Medium Range HK$2.01 – HK$3.47 Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 3 days ago

Share price −20.6% over the past month.

Below-average quality, screening 73% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (HK$2.01). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (21 months)

HK$5.11 HK$1.54 Fair Value HK$2.67 Nov 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

21‑month range HK$1.54 – HK$5.11 · fair‑value band HK$2.01 – HK$3.47 · the HK$1.54 price screens below the HK$2.67 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

APT Electronics Co Ltd (2551) currently trades at HK$1.54, while our model-based Fair Value estimate is HK$2.67, implying the stock looks roughly 73.4% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, APT Electronics Co Ltd generated revenue of HK$2.4B at a net margin of 2.6%. Revenue declined 13.3% year over year. It earns a return on equity of 4.7%. The balance sheet holds a net cash position of HK$159M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$2.01 (bear case) to HK$3.47 (bull case); at HK$1.54, the current price sits below 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 57% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -67% fair-value upside, at 73%, 2551 screens cheaper 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.

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. Evidence
Highest evidence
Residual Income HK$1.37 HK$1.35 HK$1.19 76
ROIC Compounder HK$1.04 HK$1.10 HK$1.15 72
Gordon GGM HK$0.4000 HK$0.7200 HK$0.9900 70
All 16 models by family
Earnings-Based
Graham-Dodd HK$0.5900 HK$2.39 HK$3.25 54
Lynch FV HK$0.6000 HK$0.8500 HK$1.11 50
PEG = 1.0 HK$0.6000 HK$0.8500 HK$1.11 46
EPV HK$1.04 HK$1.10 HK$1.15 59
Dividend Discount
Gordon GGM HK$0.4000 HK$0.7200 HK$0.9900 70
DDM Multi-Stage HK$0.4000 HK$0.6600 HK$0.7700 61
Multiples
P/E Multiple HK$1.83 HK$2.44 HK$3.05 63
P/S Multiple HK$1.11 HK$1.48 HK$1.85 58
P/B Multiple HK$1.11 HK$1.48 HK$1.85 55
EV/EBIT HK$2.26 HK$2.82 HK$3.37 53
EV/EBITDA HK$4.36 HK$5.61 HK$6.86 54
EV/Revenue HK$1.44 HK$1.80 HK$2.16 43
Asset-Based
NCAV (Graham) HK$0.9500 HK$1.28 HK$1.91 50
Economic Profit
Residual Income HK$1.37 HK$1.35 HK$1.19 76
ROIC Compounder HK$1.04 HK$1.10 HK$1.15 72
Growth Earnings
Growth-Adj P/E HK$1.24 HK$1.78 HK$2.31 68

Widest divergence: Multiples (HK$1.80) versus Dividend Discount (HK$0.6600). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$2.4B
Revenue growth (YoY) -13.3%
Net margin 2.6%
Return on equity 4.7%
Free cash flow −HK$208M FY2025
P/E ratio 14.2 as of Jul 2, 2026
More key figures
Operating margin 1.9%
EPS (TTM) HK$0.0200
Dividend yield 1.8%
EPS growth (YoY) -12.1%
Net cash HK$159M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 44 · Market factors (momentum, volatility) 11

Profitability 31
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 2
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

APT Electronics Co., Ltd., together with its subsidiaries, manufactures and sells intelligent vision products and system solutions in Mainland China and internationally.

Full company description

APT Electronics Co., Ltd., together with its subsidiaries, manufactures and sells intelligent vision products and system solutions in Mainland China and internationally. The company offers intelligent headlamps, rear lamps, interior lights, and interactive applications for smart cars, EVS, and ICE vehicles; low high beam, DRL/position, position/stop, turning indicator, turn/DRL/position, reversing, interior, and ADS Indicator Lighting for automotive; mini backlights and LEDs; backlights; general lighting products, such as COB, SMD white LED, flip-chip LED, full spectrum light, and intelligent lighting; and special lighting products comprising Infrared, UV LED, RGB LED, and flashlights. It also provides automotive-grade LED device, automotive electrical module, and intelligent automotive lighting system; backlight device and module for high color gamut and slim LCD display; Mini LED display device and module; high-end lighting devices and module used for indoor and outdoor lighting; and horticultural and UV/IR lighting. The company was founded in 2003 and is based in Guangzhou, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

APT Electronics Co Ltd reported revenue of HK$2.4B in FY2025 versus HK$1.4B in FY2021, a compound +14.3%/yr. Reported net income was HK$60.4M in FY2025, compounding −8.4%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$2.4B
Latest YoY
−8.6%
Avg. growth/yr (3Y) 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.
+18.9%
Revenue +14.3%/yr
FY21 HK$1.4B
FY22 HK$1.4B
FY23 HK$1.9B
FY24 HK$2.6B
FY25 HK$2.4B
Net income −8.4%/yr
FY21 HK$85.9M
FY22 HK$40.8M
FY23 HK$66.4M
FY24 HK$105M
FY25 HK$60.4M

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Cite: Fair Value Calculator (2026). "APT Electronics Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2551

Peer Group

Electronic Components · 645 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.

Quality Score 40 · Bottom 25%
Fair Value upside +73% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 0% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -13% · Bottom 25%
Dividend yield (TTM) 1.8% · Above median
Debt / equity 0.07× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 14.2× · Cheaper than 75% of peers
P/B 0.81× · Cheaper than 75% of peers
P/S (TTM) 0.44× · Cheaper than 75% of peers
EV/EBITDA 4.5× · Cheaper than 75% of peers

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.

VALUE 100 · sector 0
FUTURE 0 · sector 36
PAST 19 · sector 24
HEALTH 96 · sector 95
DIVIDEND 37 · sector 26

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,790 TWD 602.37 TWD -66%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 -31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW -88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 -90%
Shengyi Technology Co 600183 ¥143.23 ¥36.30 -75%
Shennan Circuits Co 002916 ¥385.80 ¥125.52 -67%
Victory Giant Technology (HuiZhou) Co 2476 HK$238.60 HK$75.68 -68%
Kingboard Laminates Holdings 1888 HK$38.70 HK$8.95 -77%
Asia Vital Components Co 3017 2,910 TWD 1,369 TWD -53%
Nan Ya Printed Circuit Board Corporation 8046 1,215 TWD 1,768 TWD +46%

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Frequently asked questions

Is APT Electronics Co Ltd (2551) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$2.67 versus a price of HK$1.54, about +73% (undervalued).
What is the fair value of 2551?
Our model-based fair value for APT Electronics Co Ltd is HK$2.67 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.54.
What is the quality score of 2551?
APT Electronics Co Ltd has a Quality Score of 40/100. 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 revenue of APT Electronics Co Ltd (2551)?
APT Electronics Co Ltd reported trailing-twelve-month revenue of about HK$2.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2551?
The net profit margin of APT Electronics Co Ltd is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. Based on the latest reported figures.
Does APT Electronics Co Ltd pay a dividend?
APT Electronics Co Ltd currently shows a dividend yield of about 1.84% relative to its recent price (as of Aug 13, 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.

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