3878 (3878) Fair Value & Analysis

Industrials · Market cap HK$110M

3 3878 3878 · HK

PriceHK$0.2300

Fair ValueHK$0.1800

Upside-21.7%

Quality60/100

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Evidence: High Range HK$0.1500 – HK$0.2000

Fair value as of: Jul 2, 2026

From 22 valuation models · updated today

Share price −5.3% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.1430 – HK$0.2650 · fair‑value band HK$0.1500 – HK$0.2000 · the HK$0.2300 price screens above the HK$0.1800 fair value. As of Jul 2, 2026.

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Analysis

3878 (3878) currently trades at HK$0.2300, while our model-based Fair Value estimate is HK$0.1800 — implying the stock looks roughly 21.7% overvalued today. We read business quality at 60/100 (solid quality), in the Industrials 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, 3878 generated revenue of HK$237M at a net margin of 1.9%. Revenue declined 14.8% year over year. It earns a return on equity of 1.7%. The balance sheet holds a net cash position of HK$44.7M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$237M

Revenue growth (YoY) -14.8%

Net margin 1.9%

Return on equity 1.7%

Free cash flow HK$8.0M FY2025

P/E ratio 23.0

More key figures

Operating margin -1.9%

EPS (TTM) HK$0.0100

EPS growth (YoY) -13.3%

Net cash HK$44.7M FY2026

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

3878 reported revenue of HK$237M in FY2026 versus HK$157M in FY2022, a compound +10.9%/yr. Reported net income was HK$4.5M in FY2026.

Revenue +10.9%/yr

FY22 HK$157M

FY23 HK$417M

FY24 HK$487M

FY25 HK$304M

FY26 HK$237M

Net income

FY22 −HK$24.6M

FY23 HK$2.4M

FY24 HK$8.3M

FY25 HK$4.8M

FY26 HK$4.5M

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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	$0.4415	$0.5700	+29%
Samsung C&T Corporation 028260	520,000 KRW	268,469 KRW	-48%
China State Construction Engineering Corporation 601668	¥4.65	¥17.35	+273%
TopBuild Corp BLD	7,547 MXN	324.01 MXN	-96%
000720 000720	130,300 KRW	55,602 KRW	-57%
United Integrated Services Co 2404	1,205 TWD	1,891 TWD	+57%

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Frequently asked questions

Is 3878 (3878) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$0.1800 versus a price of HK$0.2300 — about −22% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 3878?

Our model-based fair value for 3878 is HK$0.1800 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.2300.

What is the quality score of 3878?

3878 has a Quality Score of 60/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 3878 (3878)?

3878 reported trailing-twelve-month revenue of about HK$237M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 3878?

The net profit margin of 3878 is about 1.9%, meaning it keeps roughly 1.9% 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.