Royal Deluxe Holdings Ltd (3789) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Royal Deluxe Holdings Ltd HK$0.21, price HK$0.29, upside -27.6%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 27, 2026.
How to read this chart
60‑month range HK$0.0510 – HK$0.2900 · fair‑value band HK$0.1600 – HK$0.2600 · the HK$0.2900 price screens above the HK$0.2100 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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Royal Deluxe Holdings Limited, an investment holding company, provides formwork erection and related ancillary services in Hong Kong. The company undertakes formwork erection projects for building construction and civil engineering works.
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Royal Deluxe Holdings Limited, an investment holding company, provides formwork erection and related ancillary services in Hong Kong. The company undertakes formwork erection projects for building construction and civil engineering works. It also develops construction technology; trades and rents table form, as well as offers related services; and provides fit-out and engineering design services. In addition, the company involved in the property holding, rental, and investment activities. It serves contractors, government-related entities, public transport operators, housing and airport authorities, theme park and resort operators, and property developers. The company was founded in 1994 and is headquartered in Kwun Tong, Hong Kong. Royal Deluxe Holdings Limited is a subsidiary of Wang K M Limited.
Stock analysis
Royal Deluxe Holdings Ltd (3789) currently trades at HK$0.2900, while our model-based Fair Value estimate is HK$0.2100, 27.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$0.4100 per share, and 1 of the 11 models we run sit above the HK$0.2900 price.
Bear case: the Earnings-Based group reads lowest at HK$0.0900, and 10 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.1600 (bear) to HK$0.2600 (bull), the price of HK$0.2900 sits above 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 56/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Royal Deluxe Holdings Ltd 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.
Key figures
Market cap HK$348M (≈ $44.4M) · P/S ratio 0.33 · Net margin 2.1% · Return on equity 4.6% · Return on assets (EBIT) −0.4% · Operating margin 0.8% · Revenue (TTM) HK$694M · Revenue growth (YoY) −12.4%.
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 at its 52-week high and 469% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −28%, 3789 screens cheaper than that median.
Fair Value models
Bear HK$0.1600Fair Value HK$0.2100Bull HK$0.2600
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−5.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−0.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.4%
Start year 2021 (pandemic). Over 10 years: +3.7% a year
Revenue growth 12 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−11.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘ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.−11.5% vs −13.3%, steady
Profit margin 2021 to 2026 ⓘ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.−1% → −1%
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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.Engineering & Construction · 798 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−27.6% · Below median
Profitability
Return on equity (TTM)4.6% · Below median
Return on assets−0.6% · Bottom 25%
Net margin (TTM)2.1% · Below median
Operating margin (TTM)0.8% · Below median
Growth and dividend
Revenue growth−12.4% · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/B0.14× · Cheapest 25%
P/S (TTM)0.06× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)0· sector 13
PAST (return on equity)18· sector 28
HEALTH (low debt)100· sector 94
DIVIDEND (yield)0· sector 40
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Royal Deluxe Holdings Ltd (3789) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.2100 versus a price of HK$0.2900, about −28% upside (overvalued).
What is the fair value of 3789?
Our model-based fair value for Royal Deluxe Holdings Ltd is HK$0.2100 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.2900.
What is the quality score of 3789?
Royal Deluxe Holdings Ltd has a Quality Score of 56/100. 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 Royal Deluxe Holdings Ltd (3789)?
Our model-based price target is the fair value of HK$0.2100 (as of Sep 27, 2026) from 11 valuation models. Cautious scenario HK$0.1600, optimistic scenario HK$0.2600. It is a calculation from audited fundamentals, not an analyst target.
What is the Royal Deluxe Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.2100, about −28% upside versus a price of HK$0.2900 (overvalued). Cautious scenario HK$0.1600, optimistic scenario HK$0.2600. The calculation is refreshed regularly with new filings.
What is the revenue of Royal Deluxe Holdings Ltd (3789)?
Royal Deluxe Holdings Ltd reported trailing-twelve-month revenue of about HK$694M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Royal Deluxe Holdings Ltd (3789)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Royal Deluxe Holdings Ltd it is HK$0.2100 per share (as of Sep 27, 2026), against a price of HK$0.2900. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Royal Deluxe Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 3789 trades above its calculated fair value: price HK$0.2900, fair value HK$0.2100, a gap of about −28% (overvalued). 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 3789?
No. The price is what the market pays today (HK$0.2900); the fair value is what the company's own numbers justify (HK$0.2100). For Royal Deluxe Holdings Ltd the two are HK$0.0800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Royal Deluxe Holdings Ltd worth?
The market values Royal Deluxe Holdings Ltd at about HK$348M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.2900; our models calculate a fair value of HK$0.2100 per share.
What do the bullish and bearish scenarios say about 3789?
Our models span a range for Royal Deluxe Holdings Ltd: cautious scenario HK$0.1600, base HK$0.2100, optimistic HK$0.2600 per share (as of Sep 27, 2026, price HK$0.2900). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Royal Deluxe Holdings Ltd (3789)?
Balance-sheet figures for Royal Deluxe Holdings Ltd (as of Sep 27, 2026): return on equity 4.6%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 3789 from its 52-week high?
Royal Deluxe Holdings Ltd trades at HK$0.2900, at its 52-week high of HK$0.2900 and 469% above the low of HK$0.0510 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2100 is for.
Which stocks are comparable to Royal Deluxe Holdings Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Royal Deluxe Holdings Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.2900, calculated fair value HK$0.2100 (−28%), Quality Score 56/100, from 11 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 3789 calculated?
We run Royal Deluxe Holdings Ltd through 11 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$0.2100, 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 14.7 % above its aggregate fair value. Royal Deluxe Holdings Ltd itself currently trades above fair value. 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 is it worth investing now.
What is the share price of Royal Deluxe Holdings Ltd (3789)?
The closing price on Sep 30, 2026 was HK$0.2900. Our model-based fair value is HK$0.2100, about −28% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Royal Deluxe Holdings Ltd right now?
The price sits above even our optimistic bull case (HK$0.2600). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Royal Deluxe Holdings Ltd
How large is the market capitalisation of Royal Deluxe Holdings Ltd (3789)?
The market capitalisation of Royal Deluxe Holdings Ltd is HK$348M (≈ $44.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Royal Deluxe Holdings Ltd (3789)?
The price-to-sales ratio of Royal Deluxe Holdings Ltd is 0.33 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Royal Deluxe Holdings Ltd (3789)?
The net margin of Royal Deluxe Holdings Ltd is 2.1% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Royal Deluxe Holdings Ltd (3789)?
The return on equity (ROE) of Royal Deluxe Holdings Ltd is 4.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Royal Deluxe Holdings Ltd (3789)?
On an EBIT basis the return on assets of Royal Deluxe Holdings Ltd is −0.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Royal Deluxe Holdings Ltd (3789)?
The operating margin of Royal Deluxe Holdings Ltd is 0.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Royal Deluxe Holdings Ltd (3789)?
Revenue at Royal Deluxe Holdings Ltd is growing −12.4% versus a year earlier (3y avg −0.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Royal Deluxe Holdings Ltd (3789)?
Earnings per share at Royal Deluxe Holdings Ltd are growing −19.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Royal Deluxe Holdings Ltd (3789) generate?
The free cash flow of Royal Deluxe Holdings Ltd is −HK$40.4M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Royal Deluxe Holdings Ltd (3789) hold?
Royal Deluxe Holdings Ltd holds more cash than debt, HK$76.0M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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