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Clifford Modern Living Holdings Ltd (3686) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$599M (≈ $76.4M) · ISIN KYG2204M1042

What is Clifford Modern Living Holdings Ltd really worth?

CM Clifford Modern Living Holdings Ltd 3686 · HK
PriceHK$0.4800
Fair ValueHK$2.26
Upside+370.8%
Quality85/100

A strong business, trading 79% below our fair value of HK$2.26.

As of Aug 21, 2026, the fair value of Clifford Modern Living Holdings Ltd is HK$2.26 per share against a price of HK$0.4800, so the fair value sits 371% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Highly profitable · 88.9% net margin
✓generates free cash flow
✓Ranks above peers (10/12)
✓Wide moat 93/100

Risks

!Mixed Growth (revenue 5y −1.5 %/yr)
!Evidence only low, so the estimate is less certain

For context

·17.71% dividend yield
Evidence: Low Range HK$1.74 – HK$2.78

Fair value as of: Aug 21, 2026

From 24 valuation models · updated 16 days ago

Fair value updated Aug 21, 2026, revised from HK$2.25 to HK$2.26 (+0.4%) since Aug 13, 2026. Share price −14.3% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The rarer combination: high quality (85/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (HK$1.74). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

HK$0.7933 HK$0.1265 Fair Value HK$2.26 Mar 2019 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range HK$0.1265 – HK$0.7933 · fair‑value band HK$1.74 – HK$2.78 · the HK$0.4800 price screens below the HK$2.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.

Full chart & analysis →

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Analysis

Clifford Modern Living Holdings Ltd (3686) currently trades at HK$0.4800, while our model-based Fair Value estimate is HK$2.26, implying the stock looks roughly 78.8% undervalued today. The Quality Score stands at 85/100 (high quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of HK$4.45 per share, and 23 of the 24 models we run sit above the HK$0.4800 price. Bear case: the Asset-Based group reads lowest at HK$0.3900, and 1 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Clifford Modern Living Holdings Ltd generated revenue of HK$320M at a net margin of 88.9%. Revenue declined 14.1% year over year. It earns a return on equity of 54.5%. The balance sheet holds a net cash position of HK$175M. Fundamentals as of Aug 21, 2026

Our scenario range runs from HK$1.74 (bear case) to HK$2.78 (bull case); at HK$0.4800, 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 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at 371%, 3686 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence HK$0.8600 HK$1.04 HK$1.37 80
Growth DCF HK$0.8700 HK$1.05 HK$1.34 77
Owner Earnings HK$2.61 HK$3.30 HK$4.52 75
All 24 models by family
DCF Models
FCF DCF best evidence HK$0.8600 HK$1.04 HK$1.37 80
Owner Earnings HK$2.61 HK$3.30 HK$4.52 75
5Y Revenue Exit HK$0.6900 HK$0.8600 HK$1.10 71
5Y EBITDA Exit HK$1.05 HK$1.47 HK$2.03 73
5Y P/E Exit HK$2.63 HK$4.17 HK$6.04 68
10Y Revenue Exit HK$0.7500 HK$0.8800 HK$1.02 66
10Y EBITDA Exit HK$0.9600 HK$1.23 HK$1.53 67
10Y P/E Exit HK$1.84 HK$2.80 HK$3.76 62
Earnings-Based
Graham-Dodd HK$1.91 HK$2.61 HK$3.04 67
EPV HK$0.8200 HK$0.9000 HK$0.9800 70
Dividend Discount
Gordon GGM HK$0.7800 HK$0.8400 HK$0.9400 69
DDM Multi-Stage HK$0.7800 HK$0.9500 HK$1.16 67
Multiples
P/E Multiple HK$4.41 HK$5.88 HK$7.36 63
P/S Multiple HK$0.4700 HK$0.6300 HK$0.7900 58
P/B Multiple HK$1.96 HK$2.62 HK$3.27 55
EV/EBIT HK$1.54 HK$1.99 HK$2.44 63
EV/EBITDA HK$1.36 HK$1.74 HK$2.13 64
EV/Revenue HK$0.6000 HK$0.7700 HK$0.9400 52
Asset-Based
NCAV (Graham) HK$0.2900 HK$0.3900 HK$0.5800 51
Growth DCF
Growth DCF HK$0.8700 HK$1.05 HK$1.34 77
Rev-Margin DCF HK$0.6900 HK$0.8800 HK$1.11 71
Economic Profit
Residual Income HK$1.84 HK$2.77 HK$31.37 64
ROIC Compounder HK$0.8200 HK$0.9300 HK$1.03 70
Growth Earnings
Growth-Adj P/E HK$3.12 HK$4.45 HK$5.79 67

Widest divergence: Growth Earnings (HK$4.45) versus Asset-Based (HK$0.3900). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 1.8 as of Jul 2, 2026
P/S ratio 1.64 P/E × margin
EPS (TTM) HK$0.0700 price ÷ EPS = P/E 1.8
Net margin 88.9% FY2025
Return on equity 54.5% TTM
Return on assets (EBIT) 15.0% avg 5y
More key figures
Profitability
Operating margin 33.2% TTM
Growth
Revenue (TTM) HK$320M TTM
Revenue growth (YoY) −14.1% 3y avg −5.8%
EPS growth (YoY) +371%
Balance sheet & cash flow
Free cash flow HK$80.8M FY2025
Net cash HK$175M FY2025

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 85/100

Of which business quality 80 · Market factors (momentum, volatility) 32

Profitability 74
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 11
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.

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

Clifford Modern Living Holdings Limited, an investment holding company, provides services to residents in developed properties under the Clifford brand name in the People's Republic of China.

Full company description

Clifford Modern Living Holdings Limited, an investment holding company, provides services to residents in developed properties under the Clifford brand name in the People's Republic of China. It operates through five segments: property management services, retail services, off-campus training services, information technology services, and ancillary living services. It operates retail outlets, which include supermarkets, wet markets, and convenience stores. The company also offers property management, resident support services, as well as household cleaning services and sub-leasing services; and off-campus training services, including language learning classes and various interest classes. In addition, it provides information technology, related engineering, security systems, and hardware and software integration services; telecommunication services; catering consultancy services; property agency services; employment placement; and laundry services. Clifford Modern Living Holdings Limited was founded in 1998 and is headquartered in Guangzhou, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Clifford Modern Living Holdings Ltd reported revenue of 320M CNY in FY2025 versus 431M CNY in FY2021, a compound −7.1%/yr. Reported net income was 285M CNY in FY2025, compounding +36.9%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$320M
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.
−5.2%
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.
−1.5%
Avg. revenue growth/yr (11Y) ⓘ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.
+4.5%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
≈ −2.0% (approximate, leans on 2025) · in HKD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−2.0%
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 24.3% vs 10Y 24.3%, steady
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.28.1% (2020) → 33.4% (2025) · rising
Worst earnings drop37% (2021) · in HKD
⚠ Final year 2025 sits 199% above its own trend (e.g. a one-off disposal gain), so this rate uses the operating basis instead of reported profit
Revenue −7.1%/yr
FY21 431M CNY
FY22 383M CNY
FY23 345M CNY
FY24 367M CNY
FY25 320M CNY
Net income +36.9%/yr
FY21 81.1M CNY
FY22 95.1M CNY
FY23 85.8M CNY
FY24 97.5M CNY
FY25 285M CNY
Character of growth · EPS growth decomposed (2014-2025) +17.8 % p.a.
Revenue per share +0.5 %

of which total revenue +2.5 % · buybacks/dilution −2.0 %

EBIT margin +6.4 %
Tax rate +3.0 %
Residual (interest, one-offs) +7.0 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Clifford Modern Living Holdings Ltd · Fair Value
HK$2.26 +79%Fair Value
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Cite: Fair Value Calculator (2026). "Clifford Modern Living Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3686.HK

Peer Group

Grocery Stores · 78 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 85 · Top 25%
Return on equity (TTM) 55% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 89% · Top 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth −14% · Bottom 25%
Dividend yield (TTM) 17.7% · Top 25%

Valuation Multiples vs Grocery Stores median · lower = cheaper

P/E (TTM) 1.8× · Cheaper than 75% of peers
P/B 1.01× · Cheaper than 75% of peers
P/S (TTM) 1.87× · Pricier than 75% of peers
P/FCF 0.9× · Cheaper than median
EV/EBITDA 3.5× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 37
FUTURE0 · sector 17
PAST100 · sector 51
HEALTH0 · sector 92
DIVIDEND100 · sector 52

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

Similar stocks

10 more Grocery Stores stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
Loblaw Companies Limited L C$60.79 C$44.44 −27%
Koninklijke Ahold Delhaize N.V AD €30.57 €53.50 +75%
The Kroger Co KR $57.72 $28.19 −51%
Woolworths Group WOW A$40.32 A$8.33 −79%
George Weston Limited WN C$98.50 C$147.70 +50%
Metro Inc MRU C$88.26 C$94.01 +7%
Carrefour SA CA €15.63 €11.19 −28%
CP ALL Public Company TCPD 1.81 SGD 2.35 SGD +30%
BIM Birlesik Magazalar A.S., BIMAS 418.25 TRY 267.12 TRY −36%
Kesko Oyj KESKOA €21.25 €11.62 −45%

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Frequently asked questions

Is Clifford Modern Living Holdings Ltd (3686) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of HK$2.26 versus a price of HK$0.4800, about +371% upside (undervalued).
What is the fair value of 3686?
Our model-based fair value for Clifford Modern Living Holdings Ltd is HK$2.26 (as of Aug 21, 2026), built from audited fundamentals. The current price: HK$0.4800.
What is the quality score of 3686?
Clifford Modern Living Holdings Ltd has a Quality Score of 85/100. 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 Clifford Modern Living Holdings Ltd (3686)?
Our model-based price target is the fair value of HK$2.26 (as of Aug 21, 2026) from 24 valuation models. Cautious scenario HK$1.74, optimistic scenario HK$2.78. It is a calculation from audited fundamentals, not an analyst target.
What is the Clifford Modern Living Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$2.26, about +371% upside versus a price of HK$0.4800 (undervalued). Cautious scenario HK$1.74, optimistic scenario HK$2.78. The calculation is refreshed regularly with new filings.
What is the revenue of Clifford Modern Living Holdings Ltd (3686)?
Clifford Modern Living Holdings Ltd reported trailing-twelve-month revenue of about HK$320M (latest available figure, as of Aug 21, 2026).
What is the net profit margin of 3686?
The net profit margin of Clifford Modern Living Holdings Ltd is about 88.9%, meaning it keeps roughly 88.9% of revenue as net income. Based on the latest reported figures.
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