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China Overseas Property Holdings Ltd (2669) Fair Value & Analysis

Real Estate · HK · Market cap HK$10.8B

CO China Overseas Property Holdings Ltd 2669 · HK
PriceHK$3.41
Fair ValueHK$8.55
Upside+151.1%
Quality61/100
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Healthy Growth
Thin margins · 9.1% net margin
Low debt · generates free cash flow
5.29% dividend yield
Ranks above peers (12/14)
Moderate moat 58/100
Evidence: High Range HK$6.46 – HK$11.35 Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$8.68 to HK$8.55 (−1.5%) since Aug 6, 2026. Share price −1.3% over the past month.

A solid business, screening 151% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$6.46). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

HK$9.90 HK$3.22 Fair Value HK$8.55 Mar 2021 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

60‑month range HK$3.22 – HK$9.90 · fair‑value band HK$6.46 – HK$11.35 · the HK$3.41 price screens below the HK$8.55 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

China Overseas Property Holdings Ltd (2669) currently trades at HK$3.41, while our model-based Fair Value estimate is HK$8.55, implying the stock looks roughly 151.1% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Real Estate 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: high), always confirm before acting.

Over the trailing twelve months, China Overseas Property Holdings Ltd generated revenue of HK$15.0B at a net margin of 9.1%. Revenue grew 8.2% year over year. It earns a return on equity of 24.8%. The balance sheet holds a net cash position of HK$6.8B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$6.46 (bear case) to HK$11.35 (bull case); at HK$3.41, 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 41% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 151%, 2669 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$7.28 HK$12.44 HK$22.07 80
Residual Income HK$2.95 HK$3.80 HK$15.93 76
Rev-Margin DCF HK$7.77 HK$13.34 HK$21.54 74
All 16 models by family
DCF Models
FCF DCF HK$7.50 HK$11.40 HK$22.16 38
5Y Revenue Exit HK$7.77 HK$13.05 HK$22.44 39
5Y EBITDA Exit HK$9.37 HK$16.58 HK$28.56 41
10Y Revenue Exit HK$7.45 HK$13.33 HK$21.36 36
10Y EBITDA Exit HK$8.79 HK$16.28 HK$29.84 37
Dividend Discount
Gordon GGM HK$1.82 HK$3.79 HK$6.02 70
DDM Multi-Stage HK$1.82 HK$3.20 HK$3.98 61
Multiples
P/S Multiple HK$5.76 HK$7.67 HK$9.59 58
P/B Multiple HK$2.98 HK$3.97 HK$4.96 55
EV/EBIT HK$12.13 HK$15.46 HK$18.79 53
EV/EBITDA HK$10.35 HK$13.08 HK$15.82 54
EV/Revenue HK$7.64 HK$10.01 HK$12.37 43
Asset-Based
NCAV (Graham) HK$0.9900 HK$1.33 HK$1.99 50
Growth DCF
Growth DCF HK$7.28 HK$12.44 HK$22.07 80
Rev-Margin DCF HK$7.77 HK$13.34 HK$21.54 74
Economic Profit
Residual Income HK$2.95 HK$3.80 HK$15.93 76

Widest divergence: DCF Models (HK$13.33) versus Asset-Based (HK$1.33). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$15.0B
Revenue growth (YoY) +8.2%
Net margin 9.1%
Return on equity 24.8%
Free cash flow HK$1.1B FY2025
P/E ratio 6.8 as of Jul 2, 2026
More key figures
Operating margin 9.6%
EPS (TTM) HK$0.2300
Dividend yield 5.3%
EPS growth (YoY) -23.1%
Net cash HK$6.8B FY2025

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 27

Profitability 61
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 5
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

China Overseas Property Holdings Limited, an investment holding company, provides property management services in Hong Kong, Macau, and Mainland China. It operates through three segments: Property Management Services, Value-Added Services, and Car Parking Space Trading Business.

Full company description

China Overseas Property Holdings Limited, an investment holding company, provides property management services in Hong Kong, Macau, and Mainland China. It operates through three segments: Property Management Services, Value-Added Services, and Car Parking Space Trading Business. The Property Management Services segment offers security, repair and maintenance, cleaning, and garden landscape maintenance services to residential communities, commercial properties, government properties, and construction sites. The Value-Added Services segment provides engineering services, vetting of building plans, facilities and equipment evaluation proposals, pre-delivery and move-in assistance, delivery inspection, and engineering service quality monitoring and consulting services for property developers and other property management companies. It also provides community asset management services, such as rental assistance, agency and custody services for real estate transactions, common area rental assistance, and rental of its own properties, as well as home living service operations for residents and commercial service operations. The Car Parking Space Trading Business segment engages in the trading of various car parking spaces. The company is also involved in the provision of services through an online-to-offline platform and in trademark holding activities. The company was formerly known as China Overseas Management Services International Limited and changed its name to China Overseas Property Holdings Limited in May 2015. The company was founded in 1986 and is headquartered in Hong Kong. China Overseas Property Holdings Limited operates as a subsidiary of China Overseas Holdings Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Overseas Property Holdings Ltd reported revenue of HK$16.4B in FY2025 versus HK$9.5B in FY2021, a compound +14.5%/yr. Reported net income was HK$1.5B in FY2025, compounding +10.8%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$16.4B
Latest YoY
+9.7%
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.
+8.7%
Avg. growth/yr (5Y) 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.
+19.9%
Avg. growth/yr (13Y) 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.
+20.5%
Revenue +14.5%/yr
FY21 HK$9.5B
FY22 HK$12.8B
FY23 HK$13.1B
FY24 HK$14.9B
FY25 HK$16.4B
Net income +10.8%/yr
FY21 HK$984M
FY22 HK$1.1B
FY23 HK$1.3B
FY24 HK$1.6B
FY25 HK$1.5B
Character of growth · EPS growth decomposed (2014-2025) +29.2 % p.a.
Revenue per share +21.0 pp

of which total revenue +21.0 pp · buybacks/dilution +0.0 pp

EBIT margin +6.3 pp
Tax rate +0.6 pp
Residual (interest, one-offs) +1.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "China Overseas Property Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2669

Peer Group

Real Estate Services · 529 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 60 · Above median
Fair Value upside +151% · Top 25%
Return on equity (TTM) 25% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 10% · Below median
Revenue growth 8% · Above median
Dividend yield (TTM) 5.3% · Above median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 6.8× · Cheaper than 75% of peers
P/B 1.65× · Pricier than 75% of peers
P/S (TTM) 0.72× · Cheaper than median
P/FCF 1.2× · Cheaper than median
EV/EBITDA 2.1× · 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 34
FUTURE 41 · sector 10
PAST 99 · sector 16
HEALTH 100 · sector 85
DIVIDEND 100 · sector 59

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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is China Overseas Property Holdings Ltd (2669) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$8.55 versus a price of HK$3.41, about +151% (undervalued).
What is the fair value of 2669?
Our model-based fair value for China Overseas Property Holdings Ltd is HK$8.55 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$3.41.
What is the quality score of 2669?
China Overseas Property Holdings Ltd has a Quality Score of 61/100. 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 China Overseas Property Holdings Ltd (2669)?
China Overseas Property Holdings Ltd reported trailing-twelve-month revenue of about HK$15.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2669?
The net profit margin of China Overseas Property Holdings Ltd is about 9.1%, meaning it keeps roughly 9.1% of revenue as net income. Based on the latest reported figures.
Does China Overseas Property Holdings Ltd pay a dividend?
China Overseas Property Holdings Ltd currently shows a dividend yield of about 5.29% 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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