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ALSCO Pooling Service Co Ltd (2649) Fair Value & Analysis

Industrials · HK · Market cap HK$352M

AP ALSCO Pooling Service Co Ltd 2649 · HK
PriceHK$3.90
Fair ValueHK$11.18
Upside+186.7%
Quality48/100
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Mixed Growth
Thin margins · 4.8% net margin
Low debt · generates free cash flow
Ranks above peers (11/13)
Narrow moat 39/100
Evidence: Medium Range HK$7.44 – HK$13.97 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$11.17 to HK$11.18 (+0.1%) since Aug 6, 2026.

Below-average quality, screening 187% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$7.44). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$7.44 to HK$13.97) leaves room in how you read the outcome.
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Price vs Fair Value (5 months)

HK$6.20 HK$3.69 Fair Value HK$11.18 Mar 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

5‑month range HK$3.69 – HK$6.20 · fair‑value band HK$7.44 – HK$13.97 · the HK$3.90 price screens below the HK$11.18 fair value. As of Aug 13, 2026.

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Analysis

ALSCO Pooling Service Co Ltd (2649) currently trades at HK$3.90, while our model-based Fair Value estimate is HK$11.18, implying the stock looks roughly 186.7% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials 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, ALSCO Pooling Service Co Ltd generated revenue of HK$838M at a net margin of 4.8%. It earns a return on equity of 12.2%. Net debt stands at HK$63.9M. The stock trades on a trailing P/E of 8.0 (as of Jul 2, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$7.44 (bear case) to HK$13.97 (bull case); at HK$3.90, 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 51% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 26% fair-value upside, at 187%, 2649 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
Growth DCF HK$6.03 HK$8.87 HK$12.74 80
Rev-Margin DCF HK$6.82 HK$11.14 HK$16.41 74
ROIC Compounder HK$5.67 HK$6.95 HK$8.52 72
All 24 models by family
DCF Models
FCF DCF HK$6.05 HK$9.15 HK$13.57 38
Owner Earnings HK$1.87 HK$2.66 HK$3.78 31
5Y Revenue Exit HK$6.82 HK$11.21 HK$16.98 39
5Y EBITDA Exit HK$14.61 HK$26.48 HK$41.01 41
5Y P/E Exit HK$6.57 HK$10.72 HK$15.24 38
10Y Revenue Exit HK$6.24 HK$10.00 HK$15.39 36
10Y EBITDA Exit HK$11.06 HK$19.95 HK$32.91 37
10Y P/E Exit HK$6.29 HK$9.68 HK$14.12 35
Earnings-Based
Graham-Dodd HK$3.11 HK$12.04 HK$16.32 54
Lynch FV HK$2.95 HK$4.21 HK$5.47 50
PEG = 1.0 HK$2.95 HK$4.21 HK$5.47 46
EPV HK$5.40 HK$6.07 HK$6.64 59
Multiples
P/E Multiple HK$7.21 HK$9.61 HK$12.01 63
P/S Multiple HK$5.83 HK$7.78 HK$9.72 58
P/B Multiple HK$5.83 HK$7.78 HK$9.72 55
EV/EBIT HK$10.45 HK$13.79 HK$17.13 53
EV/EBITDA HK$22.22 HK$29.48 HK$36.75 54
EV/Revenue HK$7.58 HK$10.65 HK$13.71 43
Asset-Based
NCAV (Graham) HK$2.20 HK$2.95 HK$4.40 50
Growth DCF
Growth DCF HK$6.03 HK$8.87 HK$12.74 80
Rev-Margin DCF HK$6.82 HK$11.14 HK$16.41 74
Economic Profit
Residual Income HK$3.67 HK$4.02 HK$5.14 61
ROIC Compounder HK$5.67 HK$6.95 HK$8.52 72
Growth Earnings
Growth-Adj P/E HK$5.31 HK$7.58 HK$9.86 68

Widest divergence: DCF Models (HK$10.00) versus Asset-Based (HK$2.95). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$838M
Net margin 4.8%
Return on equity 12.2%
Free cash flow HK$49.5M FY2024
P/E ratio 8.0 as of Jul 2, 2026
Operating margin 7.9%
More key figures
Net debt HK$63.9M FY2024

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

Quality Score breakdown

Overall quality 48/100

Of which business quality 51 · Market factors (momentum, volatility) 40

Profitability 45
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 9
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 80
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

ALSCO Pooling Service Co., Ltd. provides innovative recyclable packaging solutions and shared rental services in global markets. The company offers products, such as Sleeve Box, JET Box, BIGBox, SUPERBox, and Car Transport Frames; and services, including pooling, integrated logistics, and digital intelligent management.

Full company description

ALSCO Pooling Service Co., Ltd. provides innovative recyclable packaging solutions and shared rental services in global markets. The company offers products, such as Sleeve Box, JET Box, BIGBox, SUPERBox, and Car Transport Frames; and services, including pooling, integrated logistics, and digital intelligent management. The company primarily serves the traditional and new energy automobile industries, as well as the photovoltaics sector. ALSCO Pooling Service Co., Ltd. was formerly known as Anwood Logistics Systems (Suzhou) Company Ltd. The company was incorporated in 2016 and is based in Suzhou, China.

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

Revenue & earnings trend

FY2022 – FY2024 · reported fiscal years

ALSCO Pooling Service Co Ltd reported revenue of HK$838M in FY2024 versus HK$648M in FY2022, a compound +13.7%/yr. Reported net income was HK$40.1M in FY2024, compounding +30.1%/yr from FY2022.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
HK$838M
Latest YoY
+5.5%
Revenue +13.7%/yr
FY22 HK$648M
FY23 HK$794M
FY24 HK$838M
Net income +30.1%/yr
FY22 HK$23.7M
FY23 HK$50.8M
FY24 HK$40.1M

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Cite: Fair Value Calculator (2026). "ALSCO Pooling Service Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2649

Peer Group

Integrated Freight & Logistics · 217 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 48 · Below median
Fair Value upside +187% · Top 25%
Return on equity (TTM) 12% · Above median
Return on assets 5% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 0% · Below median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 8.0× · Cheaper than 75% of peers
P/B 0.91× · Cheaper than median
P/S (TTM) 0.42× · Cheaper than median
P/FCF 0.9× · Cheaper than median
EV/EBITDA 1.8× · 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 40
FUTURE 0 · sector 8
PAST 49 · sector 26
HEALTH 98 · sector 94
DIVIDEND 0 · sector 63

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 Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $103.91 $103.34 -1%
FedEx Corporation FDX $326.77 $347.68 +6%
Deutsche Post AG DHL €55.32 €53.18 -4%
DSV A/S DSV kr 1,380 kr 712.57 -48%
J.B. Hunt Transport Services, Inc JBHT $275.96 $133.80 -52%
S.F. Holding 002352 ¥32.96 ¥48.64 +48%
ZTO Express (Cayman) Inc 2057 HK$178.20 HK$224.41 +26%
Hyundai Glovis Co 086280 199,700 KRW 468,982 KRW +135%
YTO Express Group 600233 ¥18.48 ¥26.51 +43%
JD Logistics, Inc 2618 HK$14.17 HK$21.45 +51%

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Frequently asked questions

Is ALSCO Pooling Service Co Ltd (2649) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$11.18 versus a price of HK$3.90, about +187% (undervalued).
What is the fair value of 2649?
Our model-based fair value for ALSCO Pooling Service Co Ltd is HK$11.18 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$3.90.
What is the quality score of 2649?
ALSCO Pooling Service Co Ltd has a Quality Score of 48/100. 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 ALSCO Pooling Service Co Ltd (2649)?
ALSCO Pooling Service Co Ltd reported trailing-twelve-month revenue of about HK$838M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2649?
The net profit margin of ALSCO Pooling Service Co Ltd is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.

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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