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Apex Ace Holding Limited (6036) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of Apex Ace Holding Limited HK$1.27, price HK$1.09, upside +16.5%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Technology · HK · ISIN KYG047181055

AA Thin data Oct 2, 2026

Apex Ace Holding Limited

6036 · HK

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value HK$1.27 · Undervalued (+16.5%)
!Quality 52/100
!Expensive Growth (revenue 5y +26.7 %/yr)
!Thin margins · 2.2% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (8/13)
!Moderate moat 52/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 17 out of 100
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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 →

Price vs Fair Value

HK$1.76 HK$0.2080 Fair Value HK$1.27 May 2021 Sep 2026

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

How to read this chart

60‑month range HK$0.2080 – HK$1.76 · fair‑value band HK$0.7200 – HK$2.21 · the HK$1.09 price screens below the HK$1.27 fair value. Dashed = 300-day average. As of Oct 2, 2026.

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Company profile

Apex Ace Holding Limited, an investment holding company, distributes semiconductors and other electronic components in China, Hong Kong, and internationally. It operates through two segments: Digital Storage Products and General Components.

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Apex Ace Holding Limited, an investment holding company, distributes semiconductors and other electronic components in China, Hong Kong, and internationally. It operates through two segments: Digital Storage Products and General Components. The company supplies digital storage products, including dynamic random-access memory, flash, and multi-chip package memory products for multimedia and mobile devices, such as set-top boxes, smart TVs, wearable devices, mobile phones, etc., as well as optical and mass storage products used in enterprise-level storage and server systems. It also provides general electronic components, such as switches, connectors, passive components, main chips, sensors, power semiconductors, and analog-to-digital converters for use in mobile and multimedia devices. In addition, the company offers property holding, technical development and promotion of new materials, sales and integration of storage system, new material technology development and promotion, and related supporting services, as well as sells computer hardware and software, and accessories. Apex Ace Holding Limited was founded in 2005 and is headquartered in Kowloon, Hong Kong. Apex Ace Holding Limited is a subsidiary of Best Sheen Limited.

Stock analysis

Apex Ace Holding Limited (6036) currently trades at HK$1.09, while our model-based Fair Value estimate is HK$1.27, implying the stock looks roughly 14.2% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of HK$2.49 per share, and 11 of the 17 models we run sit above the HK$1.09 price.

Bear case: the Asset-Based group reads lowest at HK$0.2200, and 6 of the 17 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$0.7200 (bear) to HK$2.21 (bull), the price of HK$1.09 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 52/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Apex Ace Holding Limited reported revenue of HK$5.7B in FY2025 versus HK$2.7B in FY2021, a compound +21.0%/yr. Reported net income was HK$66.6M in FY2025, compounding +77.3%/yr from FY2021.

Key figures

Market cap HK$1.2B (≈ $154M) · P/E ratio 6.1 · P/S ratio 0.07 · Dividend yield 0.7% · Net margin 1.2% · Return on equity 56.0% · Return on assets (EBIT) 3.0% · Operating margin 4.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 38% below its 52-week high and 179% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −12% fair-value upside, at 17%, 6036 screens cheaper than that median.

Fair Value models

Bear HK$0.7200 Fair Value HK$1.27 Bull HK$2.21
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV HK$1.18 HK$1.30 HK$1.39 74
Residual Income HK$0.3300 HK$0.4500 HK$0.7300 74
Owner Earnings HK$1.37 HK$2.49 HK$4.45 73
All 17 models by family
DCF Models
Owner Earnings HK$1.37 HK$2.49 HK$4.45 73
Earnings-Based
Graham-Dodd HK$0.4300 HK$2.99 HK$4.20 63
Lynch FV HK$0.9500 HK$1.35 HK$1.76 61
PEG = 1.0 HK$0.9500 HK$1.35 HK$1.76 57
EPV HK$1.18 HK$1.30 HK$1.39 74
Dividend Discount
Gordon GGM HK$0.0600 HK$0.1000 HK$0.1300 68
DDM Multi-Stage HK$0.0600 HK$0.1000 HK$0.1100 67
Multiples
P/E Multiple HK$1.33 HK$1.77 HK$2.21 63
P/S Multiple HK$0.8100 HK$1.07 HK$1.34 58
P/B Multiple HK$0.8100 HK$1.07 HK$1.34 55
EV/EBIT HK$3.15 HK$4.13 HK$5.11 66
EV/EBITDA HK$2.65 HK$3.47 HK$4.28 67
EV/Revenue HK$1.70 HK$2.33 HK$2.97 54
Asset-Based
NCAV (Graham) HK$0.1600 HK$0.2200 HK$0.3200 54
Economic Profit
Residual Income HK$0.3300 HK$0.4500 HK$0.7300 74
ROIC Compounder HK$1.25 HK$1.46 HK$1.67 72
Growth Earnings
Growth-Adj P/E HK$1.45 HK$2.07 HK$2.69 67

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Quality Score breakdown

Overall quality 52/100

Of which business quality 48 · Market factors (momentum, volatility) 65

Profitability 52
Margins and returns on capital today
Quality Growth 82
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 78
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 74
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+87.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+28.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+26.7%
Start year 2020 (pandemic). Over 10 years: +17.7% a year
Revenue growth 11 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+19.9%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+55.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+55.0%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘ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.55.0% vs 9.4%, picking up
Profit margin 2020 to 2025 ⓘ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.0% → 3%
Start year 2020 (pandemic)

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Peer Groupⓘ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.Electronics & Computer Distribution · 156 stocks

Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside +43.1% · Top 25%
Profitability
Return on equity (TTM) 27.2% · Top 25%
Return on assets 6.8% · Top 25%
Net margin (TTM) 1.2% · Below median
Operating margin (TTM) 3.7% · Above median
Growth and dividend
Revenue growth 141.6% · Top 25%
Dividend yield (TTM) 0.7% · Bottom 25%
Balance sheet
Debt / equity 0.05× · Above median

Valuation Multiplesvs Electronics & Computer Distribution median · lower = cheaper

P/E (TTM) 6.1× · Cheapest 25%
P/B 3.54× · Priciest 25%
P/S (TTM) 0.21× · Cheaper than median
EV/EBITDA 5.4× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)55 · sector 24
FUTURE (revenue growth)100 · sector 61
PAST (return on equity)100 · sector 35
HEALTH (low debt)97 · sector 98
DIVIDEND (yield)17 · sector 63

Context: sector, industry, market

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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Insight Enterprises, Inc NSIT $159.03 $140.05 −12%
Shenzhen Huaqiang Industry Co 000062 ¥21.32 ¥7.52 −65%
Topco Scientific Co 5434 542.00 TWD 472.85 TWD −13%

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HK$1.27 +14%Fair Value
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Cite: Fair Value Calculator (2026). "Apex Ace Holding Limited Fair Value". https://www.fairvalue-calculator.com/stock/6036

Frequently asked questions

Is Apex Ace Holding Limited (6036) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of HK$1.27 versus a price of HK$1.09, about +17% upside (undervalued).
What is the fair value of 6036?
Our model-based fair value for Apex Ace Holding Limited is HK$1.27 (as of Oct 2, 2026), built from audited fundamentals. The current price: HK$1.09.
What is the quality score of 6036?
Apex Ace Holding Limited has a Quality Score of 52/100. 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 Apex Ace Holding Limited (6036)?
Our model-based price target is the fair value of HK$1.27 (as of Oct 2, 2026) from 17 valuation models. Cautious scenario HK$0.7200, optimistic scenario HK$2.21. It is a calculation from audited fundamentals, not an analyst target.
What is the Apex Ace Holding Limited stock forecast for 2026?
Our models put fair value at HK$1.27, about +17% upside versus a price of HK$1.09 (undervalued). Cautious scenario HK$0.7200, optimistic scenario HK$2.21. The calculation is refreshed regularly with new filings.
What is the revenue of Apex Ace Holding Limited (6036)?
Apex Ace Holding Limited reported trailing-twelve-month revenue of about HK$8.5B (latest available figure, as of Oct 2, 2026).
Does Apex Ace Holding Limited pay a dividend?
Apex Ace Holding Limited currently shows a dividend yield of about 0.73% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of Apex Ace Holding Limited (6036)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Apex Ace Holding Limited it is HK$1.27 per share (as of Oct 2, 2026), against a price of HK$1.09. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Apex Ace Holding Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, 6036 trades below its calculated fair value: price HK$1.09, fair value HK$1.27, a gap of about +17% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 6036?
No. The price is what the market pays today (HK$1.09); the fair value is what the company's own numbers justify (HK$1.27). For Apex Ace Holding Limited the two are HK$0.1800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Apex Ace Holding Limited worth?
The market values Apex Ace Holding Limited at about HK$1.2B (market capitalisation, as of Oct 2, 2026). Per share that is HK$1.09; our models calculate a fair value of HK$1.27 per share.
What do the bullish and bearish scenarios say about 6036?
Our models span a range for Apex Ace Holding Limited: cautious scenario HK$0.7200, base HK$1.27, optimistic HK$2.21 per share (as of Oct 2, 2026, price HK$1.09). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6036?
Apex Ace Holding Limited trades at a price-to-earnings ratio of 6.1 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$1.27 is built from several models across several years. Other multiples: P/B 3.5, P/S 0.2, EV/EBITDA 5.4.
How solid is the balance sheet of Apex Ace Holding Limited (6036)?
Balance-sheet figures for Apex Ace Holding Limited (as of Oct 2, 2026): return on equity 27.2%, debt of 0.05 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 6036 from its 52-week high?
Apex Ace Holding Limited trades at HK$1.09, about 38% below its 52-week high of HK$1.76 and 179% above the low of HK$0.3900 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$1.27 is for.
Which stocks are comparable to Apex Ace Holding Limited?
From the same area (Technology) we also value TD SYNNEX Corporation, Unisplendour Corporation, Rexel S.A, Arrow Electronics, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Apex Ace Holding Limited stock attractive at the current price?
The data as of Oct 2, 2026: price HK$1.09, calculated fair value HK$1.27 (+17%), Quality Score 52/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 6036 calculated?
We run Apex Ace Holding Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$1.27, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Apex Ace Holding Limited currently trades 14 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Apex Ace Holding Limited (6036)?
The closing price on Sep 30, 2026 was HK$1.09. Our model-based fair value is HK$1.27, about +17% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Apex Ace Holding Limited right now?
The model range is unusually wide (HK$0.7200 to HK$2.21). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Apex Ace Holding Limited (6036) come from?
Earnings per share at Apex Ace Holding Limited grew +3.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.5 %, EBIT margin −0.2 %, tax rate +1.0 %, residual (interest, one-offs) −9.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Apex Ace Holding Limited

How large is the market capitalisation of Apex Ace Holding Limited (6036)?
The market capitalisation of Apex Ace Holding Limited is HK$1.2B (≈ $154M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Apex Ace Holding Limited (6036)?
The price-to-sales ratio of Apex Ace Holding Limited is 0.07 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Apex Ace Holding Limited (6036)?
The dividend yield of Apex Ace Holding Limited is 0.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Apex Ace Holding Limited (6036)?
The net margin of Apex Ace Holding Limited is 1.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Apex Ace Holding Limited (6036)?
The return on equity (ROE) of Apex Ace Holding Limited is 56.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Apex Ace Holding Limited (6036)?
On an EBIT basis the return on assets of Apex Ace Holding Limited is 3.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Apex Ace Holding Limited (6036)?
The operating margin of Apex Ace Holding Limited is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Apex Ace Holding Limited (6036)?
Revenue at Apex Ace Holding Limited is growing +126% versus a year earlier (3y avg +28.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Apex Ace Holding Limited (6036)?
Earnings per share at Apex Ace Holding Limited are growing +11.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Apex Ace Holding Limited (6036) generate?
The free cash flow of Apex Ace Holding Limited is −HK$149M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Apex Ace Holding Limited (6036) carry?
The net debt of Apex Ace Holding Limited is HK$741M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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