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3908 (3908) Fair Value & Analysis

Financial Services · Market cap HK$104B

3 3908 3908 · HK
PriceHK$21.24
Fair ValueHK$33.06
Upside+55.6%
Quality62/100
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Evidence: High Range HK$24.79 – HK$41.32

Fair value as of: Jul 2, 2026

From 25 valuation models · updated today

Share price +9.0% over the past month.

Price vs Fair Value (12 months)

HK$23.13 HK$13.91 Fair Value HK$33.06 May 2025 Jul 2026

12‑month range HK$13.91 – HK$23.13 · fair‑value band HK$24.79 – HK$41.32 · the HK$21.24 price screens below the HK$33.06 fair value. As of Jul 2, 2026.

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Analysis

3908 (3908) currently trades at HK$21.24, while our model-based Fair Value estimate is HK$33.06 — implying the stock looks roughly 55.6% undervalued today. We read business quality at 62/100 (solid quality), in the Financial Services 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: high) — always confirm before acting.

Over the trailing twelve months, 3908 generated revenue of HK$32.0B at a net margin of 35.4%. Revenue grew 63.5% year over year. It earns a return on equity of 8.9%. Net debt stands at HK$291B. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$32.0B
Revenue growth (YoY) +63.5%
Net margin 35.4%
Return on equity 8.9%
Free cash flow HK$49.9B FY2025
P/E ratio 9.9
More key figures
Operating margin 51.4%
EPS (TTM) HK$2.19
Dividend yield 1.5%
EPS growth (YoY) +84.0%
Net debt HK$291B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

3908 reported revenue of HK$47.9B in FY2025 versus HK$41.5B in FY2021, a compound +3.7%/yr. Reported net income was HK$9.5B in FY2025, compounding −3.0%/yr from FY2021.

Revenue +3.7%/yr
FY21 HK$41.5B
FY22 HK$36.8B
FY23 HK$33.0B
FY24 HK$19.6B
FY25 HK$47.9B
Net income −3.0%/yr
FY21 HK$10.8B
FY22 HK$7.6B
FY23 HK$6.2B
FY24 HK$5.7B
FY25 HK$9.5B

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Recent news

External third-party headlines (Yahoo Finance, Reuters and others) — not an editorial selection, not financial advice.

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Frequently asked questions

Is 3908 (3908) undervalued?
As of Jul 2, 2026, our model estimates a fair value of HK$33.06 versus a price of HK$21.24 — about +56% (undervalued). Model-based estimate, not financial advice.
What is the fair value of 3908?
Our model-based fair value for 3908 is HK$33.06 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$21.24.
What is the quality score of 3908?
3908 has a Quality Score of 62/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of 3908 (3908)?
3908 reported trailing-twelve-month revenue of about HK$32.0B (latest available figure, as of Jul 2, 2026).
What is the net profit margin of 3908?
The net profit margin of 3908 is about 35.4%, meaning it keeps roughly 35.4% of revenue as net income. Based on the latest reported figures.
Does 3908 pay a dividend?
3908 currently shows a dividend yield of about 1.52% 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.