Legend Holdings Corp (3396) fair value: what the stock is really worth
We calculate from audited financials what Legend Holdings Corp is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Technology · HK · Market cap HK$44.0B (≈ $5.6B) · ISIN CNE100001ZT0
At a glance
LHLegend Holdings Corp3396 · HK
PriceHK$18.74
Fair ValueHK$34.10
Upside+82.0%
Quality45/100
Below-average quality, trading 45% below our fair value of HK$34.10.
As of Aug 27, 2026, the fair value of Legend Holdings Corp is HK$34.10 per share against a price of HK$18.74, so the fair value sits 82% above the price. A model estimate from reported figures, not an analyst target.
!Expensive Growth (revenue 5y +8.0 %/yr)
!Thin margins · 1.3% net margin
!High debt · negative free cash flow
!Mixed vs. peers (5/12)
!Narrow moat 42/100
!Evidence only medium, so the estimate is less certain
!Weak on balance sheet: 23 out of 100
!Weak on dividend: 12 out of 100
Evidence: MediumRange HK$34.10 to HK$34.10
Fair value as of: Aug 27, 2026
From 16 valuation models · updated 15 days ago
Fair value updated Aug 27, 2026, revised from HK$34.04 to HK$34.10 (+0.2%) since Aug 13, 2026. Share price +7.5% over the past month.
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What matters now
The price is below even our cautious bear case (HK$34.10). The market is more pessimistic than our downside scenario.
Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range HK$5.10 – HK$20.10 · the HK$18.74 price screens below the HK$34.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.
Legend Holdings Corp (3396) currently trades at HK$18.74, while our model-based Fair Value estimate is HK$34.10, implying the stock looks roughly 45.0% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology sector. Bull case: the Asset-Based group reads highest at a median of HK$29.41 per share, and 9 of the 16 models we run sit above the HK$18.74 price. Bear case: the Earnings-Based group reads lowest at HK$7.45, and 7 of the 16 models stay below the price. Evidence for this calculation is medium.
Revenue declined 9.7% year over year. It earns a return on equity of 186.4%. Net debt stands at HK$125B. The stock trades on a trailing P/E of 36.8 (as of Jul 2, 2026). Fundamentals as of Aug 27, 2026
The share trades near its 52-week high and 144% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −40% fair-value upside, at 82%, 3396 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (HK$0.1740 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
Residual Income best evidenceHK$30.68HK$28.84HK$22.4376
EPVHK$165.24HK$194.07HK$219.3074
ROIC CompounderHK$180.34HK$231.25HK$290.5672
All 16 models by family
Earnings-Based
Graham-DoddHK$5.67HK$21.50HK$29.1064
Lynch FVHK$5.21HK$7.45HK$9.6861
PEG = 1.0HK$5.21HK$7.45HK$9.6857
EPVHK$165.24HK$194.07HK$219.3074
Dividend Discount
Gordon GGMHK$0.9900HK$2.05HK$3.2666
DDM Multi-StageHK$0.9900HK$1.73HK$2.1666
Multiples
P/E MultipleHK$17.52HK$23.35HK$29.1963
P/S MultipleHK$10.63HK$14.18HK$17.7258
P/B MultipleHK$10.63HK$14.18HK$17.7255
EV/EBITHK$371.76HK$498.26HK$624.7766
EV/EBITDAHK$403.37HK$540.41HK$677.4567
EV/RevenueHK$184.11HK$266.34HK$348.5753
Asset-Based
NCAV (Graham)HK$21.95HK$29.41HK$43.8954
Economic Profit
Residual Income best evidenceHK$30.68HK$28.84HK$22.4376
ROIC CompounderHK$180.34HK$231.25HK$290.5672
Growth Earnings
Growth-Adj P/EHK$11.46HK$16.37HK$21.2867
Widest divergence: Asset-Based (HK$29.41) versus Dividend Discount (HK$1.73). Highest evidence: Residual Income (76).
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Key figures & financial health
P/E ratio36.8as of Jul 2, 2026
P/S ratio0.06P/E × margin
EPS (TTM)HK$0.2500price ÷ EPS = P/E 36.8
Net margin0.2%FY2025
Return on equity186%TTM
Return on assets (EBIT)3.1%avg 5y
More key figures
Profitability
Operating margin1.6%TTM
Growth
Revenue growth (YoY)−9.7%3y avg +8.2%
EPS growth (YoY)−63.5%
Balance sheet & cash flow
Free cash flow−HK$17.3BFY2025
Net debtHK$125BFY2025
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality45/100
Of which business quality 39
· Market factors (momentum, volatility) 82
Profitability27
Margins and returns on capital today
Quality Growth53
Are margins and returns improving?
Cashflow11
Earnings quality: real cash, not paper profit
Fin. Strength13
Balance sheet, leverage, solvency risk
Investment91
Disciplined investing over empire-building
Low Volatility52
Calm price path (market factor)
Momentum92
Price trend over the last 3–12 months (market factor)
52W Momentum100
Distance to the 52-week high (market factor)
Net Issuance81
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Legend Holdings Corporation, along with its subsidiaries, operates in the industrial operations and industrial incubations and investments sectors in the People's Republic of China and internationally.
Full company description
Legend Holdings Corporation, along with its subsidiaries, operates in the industrial operations and industrial incubations and investments sectors in the People's Republic of China and internationally. The company provides intelligent devices and infrastructure, creates intelligent solutions, services, and software; research, develops, produces, and sells advanced material products; engages in agriculture and food-related businesses; and offers integrated banking services, including corporate and institutional banking, retail banking, private banking, and capital markets. It also invests in private equity and venture capital funds as a limited partner; holds interest in the general partners of various funds; and makes angel investments in technology start-ups, as well as minority investments in other entities. In addition, it engages in aviation logistics, financial services, medical and healthcare, and office leasing-related businesses. Further, it develops car management software, chemicals, and energy materials; provides car services, information consulting, cold chain, insurance, investment management, and medical consultation services; and engages in real estate investment, asset management, enterprise management, and project investment. Additionally, the company is involved in agriculture product planting and trading, agricultural investment, logistics, and food investment activities; trades in, processes, and sells seafood and other animal protein-related products; offers office building rental and services; develops and manufactures new energy technologies; provides financial services; engages in banking and insurance; and produces and sells salmon. Legend Holdings Corporation was incorporated in 1984 and is headquartered in Beijing, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Legend Holdings Corp reported revenue of 613B CNY in FY2025 versus 490B CNY in FY2021, a compound +5.8%/yr. Reported net income was 1.1B CNY in FY2025, compounding −34.5%/yr from FY2021.
Growth Quality 49/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$613B
Latest YoY
+17.4%
Avg. revenue 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.
+8.2%
Avg. revenue 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.
+8.0%
Avg. revenue growth/yr (17Y) ⓘ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.
+10.3%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
≈ +12.7%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+12.7%
Dividend yield0.0%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −28.8% vs 10Y −13.7%, flattening
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3.2% (2020) → 4.4% (2025) · rising
Worst earnings drop139% (2023) (loss year, drop beyond 100%) · in HKD
⚠ Final year 2025 sits 63% above trend (one-off), rate on operating basis
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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.
This stockSector peers
VALUE100· sector 8
FUTURE0· sector 59
PAST100· sector 24
HEALTH23· sector 97
DIVIDEND12· sector 38
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
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Is Legend Holdings Corp (3396) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of HK$34.10 versus a price of HK$18.74, about +82% upside (undervalued).
What is the fair value of 3396?
Our model-based fair value for Legend Holdings Corp is HK$34.10 (as of Aug 27, 2026), built from audited fundamentals. The current price: HK$18.74.
What is the quality score of 3396?
Legend Holdings Corp has a Quality Score of 45/100. 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 price target for Legend Holdings Corp (3396)?
Our model-based price target is the fair value of HK$34.10 (as of Aug 27, 2026) from 16 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Legend Holdings Corp stock forecast for 2026?
Our models put fair value at HK$34.10, about +82% upside versus a price of HK$18.74 (undervalued). The calculation is refreshed regularly with new filings.
What is the net profit margin of 3396?
The net profit margin of Legend Holdings Corp is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.
What is the intrinsic value of Legend Holdings Corp (3396)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Legend Holdings Corp it is HK$34.10 per share (as of Aug 27, 2026), against a price of HK$18.74. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Legend Holdings Corp stock overvalued or undervalued in 2026?
As of Aug 27, 2026, 3396 trades below its calculated fair value: price HK$18.74, fair value HK$34.10, a gap of about +82% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3396?
No. The price is what the market pays today (HK$18.74); the fair value is what the company's own numbers justify (HK$34.10). For Legend Holdings Corp the two are HK$15.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is Legend Holdings Corp worth?
The market values Legend Holdings Corp at about HK$44.0B (market capitalisation, as of Aug 27, 2026). Per share that is HK$18.74; our models calculate a fair value of HK$34.10 per share.
What is the P/E ratio of 3396?
Legend Holdings Corp trades at a price-to-earnings ratio of 36.8 (as of Aug 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$34.10 is built from several models across several years. Other multiples: P/B 0.6, P/S 0.6, EV/EBITDA 1.2.
How solid is the balance sheet of Legend Holdings Corp (3396)?
Balance-sheet figures for Legend Holdings Corp (as of Aug 27, 2026): return on equity 186.4%, debt of 1.53 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 3396 from its 52-week high?
Legend Holdings Corp trades at HK$18.74, about 1% below its 52-week high of HK$18.48 and 144% above the low of HK$7.69 (as of Aug 27, 2026). Distance from the high says nothing about value: that is what the fair value of HK$34.10 is for.
Which stocks are comparable to Legend Holdings Corp?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Western Digital Corporation, Hygon Information Technology Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Legend Holdings Corp stock attractive at the current price?
The data as of Aug 27, 2026: price HK$18.74, calculated fair value HK$34.10 (+82%), Quality Score 45/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3396 calculated?
We run Legend Holdings Corp through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$34.10, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. Legend Holdings Corp currently trades 82 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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