2603 (2603) Fair Value & Analysis
Consumer Cyclical · Market cap HK$7.6B
Fair value as of: Jul 2, 2026
From 26 valuation models · updated today
Share price +3.4% over the past month.
Price vs Fair Value (12 months)
12‑month range HK$10.09 – HK$18.67 · fair‑value band HK$9.80 – HK$17.81 · the HK$16.91 price screens above the HK$14.25 fair value. As of Jul 2, 2026.
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2603 (2603) currently trades at HK$16.91, while our model-based Fair Value estimate is HK$14.25 — implying the stock looks roughly 15.7% overvalued today. We read business quality at 69/100 (solid quality), in the Consumer Cyclical 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: high).
Over the trailing twelve months, 2603 generated revenue of HK$7.0B at a net margin of 4.1%. Revenue grew 22.1% year over year. It earns a return on equity of 14.5%. The stock trades on a trailing P/E of 21.7. Fundamentals as of Jul 2, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
2603 reported revenue of HK$6.7B in FY2025 versus HK$5.2B in FY2021, a compound +6.7%/yr. Reported net income was HK$277M in FY2025, compounding +5.1%/yr from FY2021.
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Similar stocks
6 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Smurfit Kappa Group SMFTF | $44.20 | $27.40 | -38% |
| Smurfit Westrock Plc, SW | $38.95 | $62.16 | +60% |
| Packaging Corporation PKG | $222.82 | $105.48 | -53% |
| International Paper Company IP | $36.89 | $84.00 | +128% |
| Amcor plc AMCR | $38.17 | $17.00 | -55% |
| Ball Corporation B1LL34 | R$141.68 | R$105.09 | -26% |
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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.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.