3899 (3899) Fair Value & Analysis

Energy · Market cap HK$16.0B

3 3899 3899 · HK

PriceHK$7.56

Fair ValueHK$13.04

Upside+72.5%

Quality57/100

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Evidence: Medium Range HK$9.78 – HK$16.30

Fair value as of: Jul 2, 2026

From 26 valuation models · updated today

Share price −16.6% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$6.05 – HK$13.13 · fair‑value band HK$9.78 – HK$16.30 · the HK$7.56 price screens below the HK$13.04 fair value. As of Jul 2, 2026.

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Analysis

3899 (3899) currently trades at HK$7.56, while our model-based Fair Value estimate is HK$13.04 — implying the stock looks roughly 72.5% undervalued today. We read business quality at 57/100 (solid quality), in the Energy 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, 3899 generated revenue of HK$26.3B at a net margin of 4.3%. Revenue grew 3.3% year over year. It earns a return on equity of 8.7%. The balance sheet holds a net cash position of HK$4.4B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$26.3B

Revenue growth (YoY) +3.3%

Net margin 4.3%

Return on equity 8.7%

Free cash flow HK$985M FY2025

P/E ratio 11.8

More key figures

Operating margin 5.0%

EPS (TTM) HK$0.2700

Dividend yield 3.8%

EPS growth (YoY) -4.1%

Net cash HK$4.4B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

3899 reported revenue of HK$26.3B in FY2025 versus HK$18.4B in FY2021, a compound +9.3%/yr. Reported net income was HK$1.1B in FY2025, compounding +6.5%/yr from FY2021.

Revenue +9.3%/yr

FY21 HK$18.4B

FY22 HK$19.6B

FY23 HK$23.6B

FY24 HK$24.8B

FY25 HK$26.3B

Net income +6.5%/yr

FY21 HK$884M

FY22 HK$1.1B

FY23 HK$1.1B

FY24 HK$1.1B

FY25 HK$1.1B

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Frequently asked questions

Is 3899 (3899) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$13.04 versus a price of HK$7.56 — about +72% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 3899?

Our model-based fair value for 3899 is HK$13.04 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$7.56.

What is the quality score of 3899?

3899 has a Quality Score of 57/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 3899 (3899)?

3899 reported trailing-twelve-month revenue of about HK$26.3B (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 3899?

The net profit margin of 3899 is about 4.3%, meaning it keeps roughly 4.3% of revenue as net income. Based on the latest reported figures.

Does 3899 pay a dividend?

3899 currently shows a dividend yield of about 3.76% relative to its recent price (as of Jul 2, 2026).

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.