Zhongyu Gas Holdings Ltd (3633) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Zhongyu Gas Holdings Ltd HK$1.82, price HK$2.67, upside -31.8%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Zhongyu Gas Holdings Ltd
3633 · HKWeak valuationQuality is weak on top of the rich price.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range HK$2.44 – HK$8.29 · fair‑value band HK$1.17 – HK$3.29 · the HK$2.67 price screens above the HK$1.82 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Zhongyu Energy Holdings Limited, an investment holding company, engages in the development, construction, and operation of natural gas projects in the People's Republic of China.
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Zhongyu Energy Holdings Limited, an investment holding company, engages in the development, construction, and operation of natural gas projects in the People's Republic of China. The company is involved in the investment, operation, and management of gas pipeline infrastructure; distribution of piped gas to residential, industrial, and commercial users; development of smart energy; operation of compressed natural gas and liquefied natural gas vehicle filling stations; and sale of stoves, gas cooking appliances, gas water heaters, wall-hang boilers, and related services, as well as trading of natural, coal, and liquefied petroleum gas. It also engages in the design and development for new energy technology; and trading of natural gas and gas pipeline construction. The company was formerly known as Zhongyu Gas Holdings Limited and changed its name to Zhongyu Energy Holdings Limited in January 2022. Zhongyu Energy Holdings Limited was incorporated in 2001 and is headquartered in Central, Hong Kong.
Stock analysis
Zhongyu Gas Holdings Ltd (3633) currently trades at HK$2.67, while our model-based Fair Value estimate is HK$1.82, implying the stock looks roughly 46.7% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$2.78 per share, and 7 of the 23 models we run sit above the HK$2.67 price.
Bear case: the Dividend Discount group reads lowest at HK$0.2500, and 16 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$1.17 (bear) to HK$3.29 (bull), the price of HK$2.67 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zhongyu Gas Holdings Ltd reported revenue of HK$12.4B in FY2025 versus HK$11.3B in FY2021, a compound +2.3%/yr. Reported net income was HK$247M in FY2025, compounding −32.5%/yr from FY2021.
Key figures
Market cap HK$7.4B (≈ $938M) · P/E ratio 29.7 · P/S ratio 0.59 · EPS (TTM) HK$0.0900 · Dividend yield 0.8% · Net margin 2.0% · Return on equity 3.0% · Return on assets (EBIT) 3.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 34% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −11% fair-value upside, at −32%, 3633 screens richer than that median.
Fair Value models
All 23 models by family
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Set up alert →Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 33
Revenue & earnings trend
Growth Forecast
3633 screens 47% overvalued. Compare with Naturgy Energy Group →
Compare Zhongyu Gas Holdings Ltd with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Utilities - Regulated Gas · 107 stocks
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Utilities
- Undervalued stocks: Hong Kong Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Naturgy Energy Group NTGY | €29.48 | €32.79 | +11% |
| Atmos Energy Corporation ATO | $156.24 | $77.92 | −50% |
| NiSource Inc NI | $39.25 | $19.90 | −49% |
| Uniper SE UN0 | €48.45 | €45.97 | −5% |
| The Hong Kong and China Gas Company 0003 | HK$7.12 | HK$4.79 | −33% |
| GAIL (India) Limited GAIL | ₹172.95 | ₹132.19 | −24% |
| Italgas S.p.A IG | €8.43 | €9.27 | +10% |
| ENN Natural Gas Co 600803 | ¥18.58 | ¥61.20 | +229% |
| UGI Corporation UGI | $36.85 | $32.82 | −11% |
| Southwest Gas Holdings SWX | $83.49 | $57.83 | −31% |
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Frequently asked questions
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Key figures of Zhongyu Gas Holdings Ltd
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