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Tongdao Liepin Group (6100) Fair Value & Analysis

Industrials · HK · Market cap HK$955M

TL Tongdao Liepin Group 6100 · HK
PriceHK$2.10
Fair ValueHK$5.72
Upside+172.4%
Quality67/100
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Weak Growth
Thin margins · 5.2% net margin
generates free cash flow
8.82% dividend yield
Ranks above peers (8/12)
Narrow moat 24/100
Evidence: Medium Range HK$4.29 – HK$7.14 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$5.71 to HK$5.72 (+0.2%) since Aug 6, 2026. Share price +7.7% over the past month.

A solid business, screening 172% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$4.29). The market is more pessimistic than our downside scenario.
  • Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$22.72 HK$1.19 Fair Value HK$5.72 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$1.19 – HK$22.72 · fair‑value band HK$4.29 – HK$7.14 · the HK$2.10 price screens below the HK$5.72 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Tongdao Liepin Group (6100) currently trades at HK$2.10, while our model-based Fair Value estimate is HK$5.72, implying the stock looks roughly 172.4% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Industrials 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, Tongdao Liepin Group generated revenue of HK$2.0B at a net margin of 5.2%. Revenue declined 7.0% year over year. It earns a return on equity of 4.4%. The balance sheet holds a net cash position of HK$833M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$4.29 (bear case) to HK$7.14 (bull case); at HK$2.10, 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 52% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 21% fair-value upside, at 172%, 6100 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Residual Income HK$4.40 HK$4.31 HK$3.58 76
Growth DCF HK$6.90 HK$8.61 HK$10.69 72
Gordon GGM HK$3.05 HK$5.50 HK$7.57 70
All 26 models by family
DCF Models
FCF DCF HK$6.85 HK$8.78 HK$11.27 38
Owner Earnings HK$5.50 HK$6.89 HK$8.68 31
5Y Revenue Exit HK$5.86 HK$7.58 HK$9.70 39
5Y EBITDA Exit HK$6.57 HK$8.88 HK$11.49 41
5Y P/E Exit HK$5.94 HK$7.74 HK$9.55 38
10Y Revenue Exit HK$6.14 HK$7.70 HK$9.65 36
10Y EBITDA Exit HK$6.63 HK$8.51 HK$10.87 37
10Y P/E Exit HK$6.27 HK$7.80 HK$9.55 35
Earnings-Based
Graham-Dodd HK$1.52 HK$4.24 HK$5.57 54
Lynch FV HK$0.8500 HK$1.22 HK$1.58 50
PEG = 1.0 HK$0.8500 HK$1.22 HK$1.58 46
EPV HK$4.68 HK$5.03 HK$5.33 59
Dividend Discount
Gordon GGM HK$3.05 HK$5.50 HK$7.57 70
DDM Multi-Stage HK$3.05 HK$4.54 HK$5.87 61
Multiples
P/E Multiple HK$3.69 HK$4.91 HK$6.14 63
P/S Multiple HK$2.85 HK$3.80 HK$4.75 58
P/B Multiple HK$2.85 HK$3.80 HK$4.75 55
EV/EBIT HK$6.41 HK$7.86 HK$9.30 53
EV/EBITDA HK$6.96 HK$8.59 HK$10.21 54
EV/Revenue HK$5.36 HK$6.77 HK$8.18 43
Asset-Based
NCAV (Graham) HK$3.14 HK$4.21 HK$6.29 50
Growth DCF
Growth DCF HK$6.90 HK$8.61 HK$10.69 72
Rev-Margin DCF HK$5.86 HK$7.64 HK$9.66 67
Economic Profit
Residual Income HK$4.40 HK$4.31 HK$3.58 76
ROIC Compounder HK$4.68 HK$5.03 HK$5.33 67
Growth Earnings
Growth-Adj P/E HK$2.93 HK$4.18 HK$5.43 68

Widest divergence: DCF Models (HK$7.74) versus Earnings-Based (HK$1.22). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$2.0B
Revenue growth (YoY) -7.0%
Net margin 5.2%
Return on equity 4.4%
Free cash flow HK$240M FY2025
P/E ratio 8.3 as of Jul 2, 2026
More key figures
Operating margin 2.6%
EPS (TTM) HK$0.1700
Dividend yield 8.8%
EPS growth (YoY) -71.6%
Net cash HK$833M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 68 · Market factors (momentum, volatility) 22

Profitability 35
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 87
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.

About the company

Tongdao Liepin Group, an investment holding company, provides talent acquisition services in the People's Republic of China.

Full company description

Tongdao Liepin Group, an investment holding company, provides talent acquisition services in the People's Republic of China. The company offers acquisition services, proprietary online platform, and SaaS solutions, and to registered individual users, business users and headhunters over the internet; AI technology and big data analytics; mobile app, website, branded WeChat official account and mini program; talent development services to individual users; other human resources services; and AI interviewing and assessment, as well as other HR services and advertising services. It serves advertising service providers, headhunters and other talent service providers, and server hosting and bandwidth providers. The company was formerly known as Wise Talent Information Technology Co., Ltd. and changed its name to Tongdao Liepin Group in July 2020. Tongdao Liepin Group was incorporated in 2018 and is headquartered in Beijing, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tongdao Liepin Group reported revenue of HK$2.0B in FY2025 versus HK$2.7B in FY2021, a compound −7.0%/yr. Reported net income was HK$103M in FY2025, compounding −6.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$2.0B
Latest YoY
−4.6%
Avg. 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.
−9.0%
Avg. 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.
+1.2%
Avg. growth/yr (10Y) ⓘ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.
+19.1%
Revenue −7.0%/yr
FY21 HK$2.7B
FY22 HK$2.6B
FY23 HK$2.3B
FY24 HK$2.1B
FY25 HK$2.0B
Net income −6.5%/yr
FY21 HK$134M
FY22 HK$44.4M
FY23 HK$750K
FY24 HK$133M
FY25 HK$103M

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HK$5.72 +172%Fair Value
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Cite: Fair Value Calculator (2026). "Tongdao Liepin Group Fair Value". https://www.fairvalue-calculator.com/stock/6100

Peer Group

Staffing & Employment Services · 85 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 67 · Top 25%
Fair Value upside +172% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 5% · Top 25%
Operating margin (TTM) 3% · Above median
Revenue growth -7% · Below median
Dividend yield (TTM) 8.8% · Top 25%

Valuation Multiples vs Staffing & Employment Services median · lower = cheaper

P/E (TTM) 8.3× · Cheaper than 75% of peers
P/B 0.33× · Cheaper than 75% of peers
P/S (TTM) 0.48× · Pricier than median
P/FCF 0.5× · Cheaper than 75% of peers

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.

VALUE 100 · sector 43
FUTURE 0 · sector 1
PAST 18 · sector 36
HEALTH 0 · sector 95
DIVIDEND 100 · sector 69

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Staffing & Employment Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Adecco Group ADEN CHF 23.14 CHF 24.08 +4%
Korn Ferry, KFY $83.30 $114.56 +38%
Robert Half Inc RHI $41.55 $20.51 -51%
TriNet Group TNET $66.83 $97.07 +45%
ManpowerGroup Inc MAN $56.22 $23.19 -59%
Insperity, Inc NSP $50.39 $17.34 -66%
FESCO Group 600861 ¥13.17 ¥45.46 +245%
Grupa Pracuj S.A GPP 55.50 PLN 65.45 PLN +18%
Barrett Business Services, Inc BBSI $31.39 $38.11 +21%
Maharah for Human Resources Company 1831 5.36 SAR 6.87 SAR +28%

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Frequently asked questions

Is Tongdao Liepin Group (6100) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$5.72 versus a price of HK$2.10, about +172% (undervalued).
What is the fair value of 6100?
Our model-based fair value for Tongdao Liepin Group is HK$5.72 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.10.
What is the quality score of 6100?
Tongdao Liepin Group has a Quality Score of 67/100. 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 revenue of Tongdao Liepin Group (6100)?
Tongdao Liepin Group reported trailing-twelve-month revenue of about HK$2.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6100?
The net profit margin of Tongdao Liepin Group is about 5.2%, meaning it keeps roughly 5.2% of revenue as net income. Based on the latest reported figures.
Does Tongdao Liepin Group pay a dividend?
Tongdao Liepin Group currently shows a dividend yield of about 8.82% relative to its recent price (as of Aug 13, 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.

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