3798 (3798) Fair Value & Analysis

Communication Services · Market cap HK$1.8B

3 3798 3798 · HK

PriceHK$1.38

Fair ValueHK$1.21

Upside-12.3%

Quality70/100

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Evidence: High Range HK$1.00 – HK$1.47

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price +7.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.9200 – HK$1.78 · fair‑value band HK$1.00 – HK$1.47 · the HK$1.38 price screens above the HK$1.21 fair value. As of Jul 2, 2026.

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Analysis

3798 (3798) currently trades at HK$1.38, while our model-based Fair Value estimate is HK$1.21 — implying the stock looks roughly 12.3% overvalued today. We read business quality at 70/100 (solid quality), in the Communication Services 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: high).

Over the trailing twelve months, 3798 generated revenue of HK$1.3B at a net margin of 4.4%. Revenue grew 13.1% year over year. It earns a return on equity of 4.2%. The balance sheet holds a net cash position of HK$774M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$1.3B

Revenue growth (YoY) +13.1%

Net margin 4.4%

Return on equity 4.2%

Free cash flow HK$198M FY2025

P/E ratio 24.2

More key figures

Operating margin 11.9%

EPS (TTM) HK$0.0300

EPS growth (YoY) +36.7%

Net cash HK$774M FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

3798 reported revenue of HK$1.3B in FY2025 versus HK$1.1B in FY2021, a compound +4.3%/yr. Reported net income was HK$59.1M in FY2025, compounding −41.4%/yr from FY2021.

Revenue +4.3%/yr

FY21 HK$1.1B

FY22 HK$1.6B

FY23 HK$1.8B

FY24 HK$1.4B

FY25 HK$1.3B

Net income −41.4%/yr

FY21 HK$500M

FY22 HK$466M

FY23 HK$437M

FY24 −HK$74.2M

FY25 HK$59.1M

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Frequently asked questions

Is 3798 (3798) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$1.21 versus a price of HK$1.38 — about −12% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 3798?

Our model-based fair value for 3798 is HK$1.21 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$1.38.

What is the quality score of 3798?

3798 has a Quality Score of 70/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 3798 (3798)?

3798 reported trailing-twelve-month revenue of about HK$1.3B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 3798?

The net profit margin of 3798 is about 4.4%, meaning it keeps roughly 4.4% 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.