3789 (3789) Fair Value & Analysis

Industrials · Market cap HK$228M

3 3789 3789 · HK

PriceHK$0.1900

Fair ValueHK$0.2100

Upside+10.5%

Quality67/100

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Evidence: Medium Range HK$0.1600 – HK$0.2600

Fair value as of: Jul 2, 2026

From 11 valuation models · updated today

Share price +10.5% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.0510 – HK$0.2230 · fair‑value band HK$0.1600 – HK$0.2600 · the HK$0.1900 price screens below the HK$0.2100 fair value. As of Jul 2, 2026.

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Analysis

3789 (3789) currently trades at HK$0.1900, while our model-based Fair Value estimate is HK$0.2100 — implying the stock looks roughly 10.5% undervalued today. We read business quality at 67/100 (solid quality), in the Industrials 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: medium) — always confirm before acting.

Over the trailing twelve months, 3789 generated revenue of HK$694M at a net margin of 2.1%. Revenue declined 12.4% year over year. It earns a return on equity of 4.6%. The balance sheet holds a net cash position of HK$76.0M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$694M

Revenue growth (YoY) -12.4%

Net margin 2.1%

Return on equity 4.6%

Free cash flow −HK$40.4M FY2025

Operating margin 0.8%

More key figures

EPS growth (YoY) -19.8%

Net cash HK$76.0M FY2026

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

3789 reported revenue of HK$694M in FY2026 versus HK$470M in FY2022, a compound +10.2%/yr. Reported net income was HK$14.6M in FY2026, compounding +21.2%/yr from FY2022.

Revenue +10.2%/yr

FY22 HK$470M

FY23 HK$702M

FY24 HK$784M

FY25 HK$731M

FY26 HK$694M

Net income +21.2%/yr

FY22 HK$6.8M

FY23 HK$21.4M

FY24 HK$9.8M

FY25 −HK$6.0M

FY26 HK$14.6M

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Similar stocks

6 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock	Price	Fair Value	vs Fair Value
Larsen & Toubro Limited LTOD	$42.70	$34.33	-20%
Samsung C&T Corporation 028260	460,500 KRW	206,212 KRW	-55%
China State Construction Engineering Corporation 601668	¥4.72	¥16.90	+258%
TopBuild Corp BLD	7,547 MXN	4,541 MXN	-40%
Hyundai Engineering & Construction Co 000720	127,800 KRW	55,602 KRW	-56%
United Integrated Services Co 2404	1,195 TWD	1,681 TWD	+41%

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Frequently asked questions

Is 3789 (3789) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.2100 versus a price of HK$0.1900 — about +11% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 3789?

Our model-based fair value for 3789 is HK$0.2100 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.1900.

What is the quality score of 3789?

3789 has a Quality Score of 67/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 3789 (3789)?

3789 reported trailing-twelve-month revenue of about HK$694M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 3789?

The net profit margin of 3789 is about 2.1%, meaning it keeps roughly 2.1% 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.