3738 (3738) Fair Value & Analysis

Technology · Market cap HK$5.8B

3 3738 3738 · HK

PriceHK$2.30

Fair ValueHK$1.57

Upside-31.7%

Quality30/100

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Evidence: Medium Range HK$1.24 – HK$1.96

Fair value as of: Jul 2, 2026

From 23 valuation models · updated today

Share price −23.1% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$2.22 – HK$6.64 · fair‑value band HK$1.24 – HK$1.96 · the HK$2.30 price screens above the HK$1.57 fair value. As of Jul 2, 2026.

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Analysis

3738 (3738) currently trades at HK$2.30, while our model-based Fair Value estimate is HK$1.57 — implying the stock looks roughly 31.7% overvalued today. We read business quality at 30/100 (below-average quality), in the Technology 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, 3738 generated revenue of HK$2.9B at a net margin of 6.9%. Revenue grew 16.0% year over year. It earns a return on equity of 7.4%. Net debt stands at HK$864M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$2.9B

Revenue growth (YoY) +16.0%

Net margin 6.9%

Return on equity 7.4%

Free cash flow HK$15.2M FY2025

P/E ratio 28.6

More key figures

Operating margin 11.8%

EPS (TTM) HK$0.0400

EPS growth (YoY) -12.4%

Net debt HK$864M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

3738 reported revenue of HK$2.9B in FY2025 versus HK$687M in FY2021, a compound +43.0%/yr. Reported net income was HK$199M in FY2025.

Revenue +43.0%/yr

FY21 HK$687M

FY22 HK$1.4B

FY23 HK$2.0B

FY24 HK$2.4B

FY25 HK$2.9B

Net income

FY21 −HK$22.7M

FY22 HK$42.0M

FY23 −HK$7.8M

FY24 HK$143M

FY25 HK$199M

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Similar stocks

6 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
SAP SE SAPP34	R$949.05	R$674.65	-29%
Salesforce, Inc CRM	$153.42	$182.10	+19%
Uber Technologies, Inc UBER	$68.61	$88.21	+29%
Shopify Inc SHOP	$109.54	$30.42	-72%
ServiceNow, Inc NOW	$127.65	$35.40	-72%
Cadence Design Systems, Inc CDNS	$389.04	$80.41	-79%

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Frequently asked questions

Is 3738 (3738) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$1.57 versus a price of HK$2.30 — about −32% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 3738?

Our model-based fair value for 3738 is HK$1.57 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.30.

What is the quality score of 3738?

3738 has a Quality Score of 30/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 3738 (3738)?

3738 reported trailing-twelve-month revenue of about HK$2.9B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 3738?

The net profit margin of 3738 is about 6.9%, meaning it keeps roughly 6.9% of revenue as net income. Based on the latest reported figures.

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.