2649 (2649) Fair Value & Analysis

Industrials · Market cap HK$352M

2 2649 2649 · HK

PriceHK$3.90

Fair ValueHK$11.09

Upside+184.4%

Quality45/100

Watch 2649 for free — get notified when fair value or trend changes. Watch for free

Evidence: Medium Range HK$7.58 – HK$13.87

Fair value as of: Jul 2, 2026

From 24 valuation models · updated today

Price vs Fair Value (4 months)

4‑month range HK$3.69 – HK$6.20 · fair‑value band HK$7.58 – HK$13.87 · the HK$3.90 price screens below the HK$11.09 fair value. As of Jul 2, 2026.

✦ Which stocks are undervalued right now? Check free Discover now →

Analysis

2649 (2649) currently trades at HK$3.90, while our model-based Fair Value estimate is HK$11.09 — implying the stock looks roughly 184.4% undervalued today. We read business quality at 45/100 (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, 2649 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. Fundamentals as of Jul 2, 2026

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

Operating margin 7.9%

More key figures

Net debt HK$63.9M FY2024

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

Revenue & earnings trend

FY2022 – FY2024 · reported fiscal years

2649 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.

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

Is 2649 fairly valued? → Check now

Similar stocks

6 more Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
FedEx Corporation FDX	€279.20	€124.00	-56%
United Parcel Service, Inc UPS	$107.24	$104.49	-3%
Deutsche Post AG DPSTF	$60.85	$139.20	+129%
DSV DSV	kr 1,540	kr 1,188	-23%
DSDVF DSDVF	$236.04	$108.35	-54%
DSDVY DSDVY	$116.93	$102.87	-12%

Explore undervalued stocks

More undervalued Industrials stocks →

All undervalued stocks Technology Financial Services Healthcare Consumer Cyclical Consumer Defensive Communication Services Industrials Energy Basic Materials Real Estate Utilities Deeply Undervalued Stocks Undervalued Blue-Chip Stocks Undervalued Small-Cap Stocks

Frequently asked questions

Is 2649 (2649) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$11.09 versus a price of HK$3.90 — about +184% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 2649?

Our model-based fair value for 2649 is HK$11.09 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$3.90.

What is the quality score of 2649?

2649 has a Quality Score of 45/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2649 (2649)?

2649 reported trailing-twelve-month revenue of about HK$838M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2649?

The net profit margin of 2649 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.