Telecom Digital Holdings Ltd (6033) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$218M (≈ $27.8M) · ISIN KYG8741M1197

What is Telecom Digital Holdings Ltd really worth?

TD Telecom Digital Holdings Ltd 6033 · HK

PriceHK$0.5100

Fair ValueHK$1.57

Upside+207.8%

Quality47/100

Below-average quality, trading 68% below our fair value of HK$1.57.

As of Sep 2, 2026, the fair value of Telecom Digital Holdings Ltd is HK$1.57 per share against a price of HK$0.5100, so the fair value sits 208% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓generates free cash flow

Risks

!Weak Growth (revenue 5y +4.1 %/yr)

!Thin margins · 0.3% net margin

!Mixed vs. peers (5/12)

!Narrow moat 23/100

!Evidence only low, so the estimate is less certain

!Weak on past: 3 out of 100

Evidence: Low Range HK$1.18 – HK$1.96

Fair value as of: Sep 2, 2026

From 24 valuation models · updated 4 days ago

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

The price is below even our cautious bear case (HK$1.18). The market is more pessimistic than our downside scenario.
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 2, 2026.

How to read this chart

60‑month range HK$0.4850 – HK$2.97 · fair‑value band HK$1.18 – HK$1.96 · the HK$0.5100 price screens below the HK$1.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 2, 2026.

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Analysis

Telecom Digital Holdings Ltd (6033) currently trades at HK$0.5100, while our model-based Fair Value estimate is HK$1.57, implying the stock looks roughly 67.5% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of HK$1.78 per share, and 21 of the 24 models we run sit above the HK$0.5100 price. Bear case: the Earnings-Based group reads lowest at HK$0.3700, and 3 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Telecom Digital Holdings Ltd generated revenue of HK$1.3B at a net margin of 0.3%. Revenue declined 7.5% year over year. It earns a return on equity of 0.8%. Net debt stands at HK$606M. Fundamentals as of Sep 2, 2026

Our scenario range runs from HK$1.18 (bear case) to HK$1.96 (bull case); at HK$0.5100, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 40% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at 208%, 6033 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly HK$0.0100 per share, which is 0.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

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. Evidence

Highest evidence

FCF DCF best evidence HK$1.67 HK$2.08 HK$2.75 77

Growth DCF HK$1.71 HK$2.09 HK$2.67 75

Residual Income HK$0.8300 HK$0.8200 HK$0.7000 74

All 24 models by family

DCF Models

FCF DCF best evidence HK$1.67 HK$2.08 HK$2.75 77

Owner Earnings HK$1.62 HK$2.01 HK$2.66 73

5Y Revenue Exit HK$1.04 HK$1.24 HK$1.54 69

5Y EBITDA Exit HK$2.60 HK$3.93 HK$5.71 70

5Y P/E Exit HK$1.35 HK$1.78 HK$2.31 67

10Y Revenue Exit HK$1.32 HK$1.49 HK$1.66 64

10Y EBITDA Exit HK$2.15 HK$2.93 HK$3.79 65

10Y P/E Exit HK$1.50 HK$1.78 HK$2.05 61

Earnings-Based

Graham-Dodd HK$0.3800 HK$0.5000 HK$0.5700 65

EPV HK$0.3300 HK$0.3700 HK$0.3900 70

Dividend Discount

Gordon GGM HK$0.4900 HK$0.5200 HK$0.5700 67

DDM Multi-Stage HK$0.4900 HK$0.5700 HK$0.6700 65

Multiples

P/E Multiple HK$1.18 HK$1.57 HK$1.96 63

P/S Multiple HK$0.7100 HK$0.9500 HK$1.19 58

P/B Multiple HK$0.7100 HK$0.9500 HK$1.19 55

EV/EBIT HK$0.9400 HK$1.24 HK$1.53 63

EV/EBITDA HK$4.00 HK$5.31 HK$6.62 64

EV/Revenue HK$0.5000 HK$0.7000 HK$0.8900 51

Asset-Based

NCAV (Graham) HK$0.6000 HK$0.8100 HK$1.20 51

Growth DCF

Growth DCF HK$1.71 HK$2.09 HK$2.67 75

Rev-Margin DCF HK$1.04 HK$1.29 HK$1.62 69

Economic Profit

Residual Income HK$0.8300 HK$0.8200 HK$0.7000 74

ROIC Compounder HK$0.3300 HK$0.3700 HK$0.3900 68

Growth Earnings

Growth-Adj P/E HK$0.8200 HK$1.18 HK$1.53 65

Widest divergence: DCF Models (HK$1.78) versus Earnings-Based (HK$0.3700). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 51.0

P/S ratio 0.87 P/E × margin

EPS (TTM) HK$0.0100 price ÷ EPS = P/E 51.0

Dividend yield 13.0%

Net margin 1.7% FY2025

Return on equity 0.8% TTM

More key figures

Profitability

Return on assets (EBIT) 10.3% avg 5y

Operating margin 1.0% TTM

Growth

Revenue (TTM) HK$1.3B TTM

Revenue growth (YoY) −7.5% 3y avg −4.0%

EPS growth (YoY) −82.5%

Balance sheet & cash flow

Free cash flow HK$89.7M FY2025

Net debt HK$606M FY2025 · ≈ 6.8 yrs of FCF

Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 48 · Market factors (momentum, volatility) 25

Profitability 43

Margins and returns on capital today

Quality Growth 21

Are margins and returns improving?

Cashflow 61

Earnings quality: real cash, not paper profit

Fin. Strength 23

Balance sheet, leverage, solvency risk

Investment 69

Disciplined investing over empire-building

Low Volatility 62

Calm price path (market factor)

Momentum 15

Price trend over the last 3–12 months (market factor)

52W Momentum 1

Distance to the 52-week high (market factor)

Net Issuance 82

Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Full company description

Telecom Digital Holdings Limited, an investment holding company, engages in the telecommunications and related businesses in Hong Kong and the People's Republic of China. It operates through the Product Business, Operation Services, and Property Investments segments. The company offers electronic devices, other consumer goods, and related services; paging and other telecommunication products and services; operation services; maintenance and management services for paging transmission stations; consulting services; management consultancy and professional services; distribution services; and technical support services. It is also involved in the e-commerce business, trade of telecommunications products, and investment in properties. The company was founded in 1974 and is headquartered in Kwun Tong, Hong Kong. Telecom Digital Holdings Limited operates as a subsidiary of CKK Investment Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Telecom Digital Holdings Ltd reported revenue of HK$1.3B in FY2025 versus HK$1.0B in FY2021, a compound +6.4%/yr. Reported net income was HK$22.6M in FY2025, compounding −36.0%/yr from FY2021.

Growth Quality 40/100

Revenue growth is weak, negative or inconsistent.

Latest Revenue (FY 2025)

HK$1.3B

Latest YoY

−3.0%

Avg. revenue growth/yr (3Y) ⓘ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.

−4.0%

Avg. revenue growth/yr (5Y) ⓘ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.

+4.1%

Avg. revenue growth/yr (13Y) ⓘ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.

+3.6%

Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.

−16.7% · in HKD

Earnings growth per share plus dividend yield: the value created per share and year.

Earnings growth per share−29.7%

Dividend yield13.0%

Trend ⓘ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.5Y −29.7% vs 10Y −13.0%, flattening

Operating margin (EBIT) ⓘ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.8.7% (2020) → 1.5% (2025) · falling

Worst earnings drop70% (2025) · in HKD

Revenue +6.4%/yr

FY21 HK$1.0B

FY22 HK$1.5B

FY23 HK$1.5B

FY24 HK$1.4B

FY25 HK$1.3B

Net income −36.0%/yr

FY21 HK$135M

FY22 HK$113M

FY23 HK$75.6M

FY24 HK$56.4M

FY25 HK$22.6M

Character of growth · EPS growth decomposed (2014-2025) −6.7 % p.a.

Revenue per share −0.5 %

of which total revenue +0.7 % · buybacks/dilution −1.2 %

EBIT margin −1.7 %

Tax rate −1.0 %

Residual (interest, one-offs) −3.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Telecom Digital Holdings Ltd · Fair Value
HK$1.57 +68%Fair Value
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<a href="https://www.fairvalue-calculator.com/stock/6033.HK" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Telecom Digital Holdings Ltd · Fair Value</span><br><b style="font-size:20px">HK$1.57</b> <span style="color:#7BB290;font-weight:700;font-size:14px">+68%</span></span><span style="font-size:11px;color:#7BB290;font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Telecom Digital Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6033.HK

Peer Group

Specialty Retail · 218 stocks

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.

Quality Score 47 · Bottom 25%

Return on equity (TTM) 1% · Below median

Return on assets 0% · Bottom 25%

Net margin (TTM) 0% · Below median

Operating margin (TTM) 1% · Below median

Revenue growth −8% · Bottom 25%

Dividend yield (TTM) 13.0% · Top 25%

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 51.0× · Pricier than 75% of peers

P/B 0.45× · Cheaper than 75% of peers

P/S (TTM) 0.17× · Cheaper than 75% of peers

P/FCF 0.3× · Cheaper than 75% of peers

EV/EBITDA 3.8× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

This stock

Sector peers

VALUE0 · sector 31

FUTURE0 · sector 25

PAST3 · sector 27

HEALTH0 · sector 96

DIVIDEND100 · sector 58

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Frequently asked questions

Is Telecom Digital Holdings Ltd (6033) overvalued or undervalued?

As of Sep 2, 2026, our model estimates a fair value of HK$1.57 versus a price of HK$0.5100, about +208% upside (undervalued).

What is the fair value of 6033?

Our model-based fair value for Telecom Digital Holdings Ltd is HK$1.57 (as of Sep 2, 2026), built from audited fundamentals. The current price: HK$0.5100.

What is the quality score of 6033?

Telecom Digital Holdings Ltd has a Quality Score of 47/100. 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 Telecom Digital Holdings Ltd (6033)?

Our model-based price target is the fair value of HK$1.57 (as of Sep 2, 2026) from 24 valuation models. Cautious scenario HK$1.18, optimistic scenario HK$1.96. It is a calculation from audited fundamentals, not an analyst target.

What is the Telecom Digital Holdings Ltd stock forecast for 2026?

Our models put fair value at HK$1.57, about +208% upside versus a price of HK$0.5100 (undervalued). Cautious scenario HK$1.18, optimistic scenario HK$1.96. The calculation is refreshed regularly with new filings.

What is the revenue of Telecom Digital Holdings Ltd (6033)?

Telecom Digital Holdings Ltd reported trailing-twelve-month revenue of about HK$1.3B (latest available figure, as of Sep 2, 2026).

What is the net profit margin of 6033?

The net profit margin of Telecom Digital Holdings Ltd is about 0.3%, meaning it keeps roughly 0.3% of revenue as net income. Based on the latest reported figures.

Does Telecom Digital Holdings Ltd pay a dividend?

Telecom Digital Holdings Ltd currently shows a dividend yield of about 12.96% relative to its recent price (as of Sep 2, 2026).

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