2651 (2651) Fair Value & Analysis

Healthcare · Market cap HK$953M

2 2651 2651 · HK

PriceHK$19.29

Fair ValueHK$13.17

Upside-31.7%

Quality60/100

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Evidence: Medium Range HK$9.88 – HK$16.46

Fair value as of: Jul 2, 2026

From 24 valuation models · updated today

Share price +63.9% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$7.23 – HK$19.44 · fair‑value band HK$9.88 – HK$16.46 · the HK$19.29 price screens above the HK$13.17 fair value. As of Jul 2, 2026.

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Analysis

2651 (2651) currently trades at HK$19.29, while our model-based Fair Value estimate is HK$13.17 — implying the stock looks roughly 31.7% overvalued today. We read business quality at 60/100 (solid quality), in the Healthcare 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: medium).

Over the trailing twelve months, 2651 generated revenue of HK$372M at a net margin of 7.6%. Revenue declined 8.3% year over year. It earns a return on equity of 19.0%. The stock trades on a trailing P/E of 26.1. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$372M

Revenue growth (YoY) -8.3%

Net margin 7.6%

Return on equity 19.0%

Free cash flow HK$80.1M FY2025

P/E ratio 26.1

More key figures

Operating margin 14.0%

EPS (TTM) HK$0.4100

Dividend yield 3.5%

EPS growth (YoY) -46.7%

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

Revenue & earnings trend

FY2013 – FY2025 · reported fiscal years

2651 reported revenue of HK$372M in FY2025 versus HK$22.2M in FY2013, a compound +26.5%/yr. Reported net income was HK$28.2M in FY2025, compounding +31.6%/yr from FY2013.

Revenue +26.5%/yr

FY13 HK$22.2M

FY22 HK$409M

FY23 HK$442M

FY24 HK$407M

FY25 HK$372M

Net income +31.6%/yr

FY13 HK$1.0M

FY22 HK$37.1M

FY23 HK$46.5M

FY24 HK$38.3M

FY25 HK$28.2M

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Similar stocks

6 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
HCA Healthcare, Inc H1CA34	R$95.75	R$123.65	+29%
Fresenius SE FSNUY	$11.30	$8.61	-24%
5225 5225	8.71 MYR	4.87 MYR	-44%
IHHHF IHHHF	$1.71	$1.17	-32%
Tenet Healthcare Corporation THC	$162.06	$282.55	+74%
Rede D'Or São Luiz S.A RDOR3	R$32.76	R$30.33	-7%

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Frequently asked questions

Is 2651 (2651) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$13.17 versus a price of HK$19.29 — about −32% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2651?

Our model-based fair value for 2651 is HK$13.17 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$19.29.

What is the quality score of 2651?

2651 has a Quality Score of 60/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2651 (2651)?

2651 reported trailing-twelve-month revenue of about HK$372M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2651?

The net profit margin of 2651 is about 7.6%, meaning it keeps roughly 7.6% of revenue as net income. Based on the latest reported figures.

Does 2651 pay a dividend?

2651 currently shows a dividend yield of about 3.52% relative to its recent price (as of Jul 2, 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.

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