Kangda International (6136) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Kangda International HK$1.62, price HK$0.76, upside +113.2%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range HK$0.1840 – HK$1.00 · fair‑value band HK$1.16 – HK$2.15 · the HK$0.7600 price screens below the HK$1.62 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Kangda International Environmental Company Limited, an investment holding company, designs, constructs, operates, and maintains wastewater treatment plants, reclaimed water treatment plants, water distribution plants, sludge treatment plants, and other municipal infrastructure in China.
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Kangda International Environmental Company Limited, an investment holding company, designs, constructs, operates, and maintains wastewater treatment plants, reclaimed water treatment plants, water distribution plants, sludge treatment plants, and other municipal infrastructure in China. It operates through Urban Water Treatment, Water Environment Comprehensive Remediation, and Rural Water Improvement segments. The company is also involved in the provision of river harnessing and improvement, foul water body treatment, and sponge city construction services; construction and operation of water environment facilities in villages, including wastewater treatment facilities; and pipeline construction for collecting wastewater. In addition, it invests in wastewater treatment plants (WTP) and energy industry; constructs municipal infrastructure; provides of WTP and sludge treatment plants operation services and reclaimed water treatment services; invests and manages environmental projects and public infrastructure projects; develops and sells computer software; and sells water purifying materials. The company serves municipal, district, or county level governments, as well as its designees. Kangda International Environmental Company Limited was founded in 1996 and is headquartered in Chongqing, China.
Stock analysis
Kangda International (6136) currently trades at HK$0.7600, while our model-based Fair Value estimate is HK$1.62, implying the stock looks roughly 53.1% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of HK$1.81 per share, and 17 of the 22 models we run sit above the HK$0.7600 price.
Bear case: the Earnings-Based group reads lowest at HK$0.1700, and 5 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$1.16 (bear) to HK$2.15 (bull), the price of HK$0.7600 sits below 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 55/100 (solid quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Kangda International reported revenue of 2.4B CNY in FY2025 versus 2.9B CNY in FY2021, a compound −4.5%/yr. Reported net income was 237M CNY in FY2025, compounding −12.9%/yr from FY2021.
Key figures
Market cap HK$1.7B (≈ $214M) · P/E ratio 6.4 · P/S ratio 0.63 · EPS (TTM) HK$0.0500 · Net margin 9.8% · Return on equity 4.0% · Return on assets (EBIT) 4.9% · Operating margin 29.2%.
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 16% below its 52-week high and 105% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −42% fair-value upside, at 113%, 6136 screens cheaper than that median.
Fair Value models
Bear HK$1.16Fair Value HK$1.62Bull HK$2.15
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0367 per share) are deliberately not added.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 ⓘ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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+7.3%
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.
−5.7%
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.
−6.1%
Start year 2020 (pandemic). Over 10 years: +2.8% a year
Revenue growth 13 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.
+7.1%
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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. Basis: EBIT basis.
−5.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.6%
Dividend (yield on the price)0.0%
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.−11% vs −4%, slowing
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.33% → 35%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +10.9% a year for the price.
Price, fair value, quality and upside side by side.
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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.Utilities - Regulated Water · 65 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Top 25%
Fair Value upside+119% · Top 25%
Profitability
Return on equity (TTM)4% · Below median
Return on assets2% · Above median
Net margin (TTM)10% · Below median
Operating margin (TTM)29% · Above median
Growth and dividend
Revenue growth10% · Above median
Balance sheet
Debt / equity0.95× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Water median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kangda International Fair Value". https://www.fairvalue-calculator.com/stock/6136
Frequently asked questions
Is Kangda International (6136) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$1.62 versus a price of HK$0.7600, about +113% upside (undervalued).
What is the fair value of 6136?
Our model-based fair value for Kangda International is HK$1.62 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$0.7600.
What is the quality score of 6136?
Kangda International has a Quality Score of 55/100. 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 Kangda International (6136)?
Our model-based price target is the fair value of HK$1.62 (as of Sep 24, 2026) from 22 valuation models. Cautious scenario HK$1.16, optimistic scenario HK$2.15. It is a calculation from audited fundamentals, not an analyst target.
What is the Kangda International stock forecast for 2026?
Our models put fair value at HK$1.62, about +113% upside versus a price of HK$0.7600 (undervalued). Cautious scenario HK$1.16, optimistic scenario HK$2.15. The calculation is refreshed regularly with new filings.
What is the revenue of Kangda International (6136)?
Kangda International reported trailing-twelve-month revenue of about 2.4B CNY (latest available figure, as of Sep 24, 2026).
What growth is priced into Kangda International (6136)?
For today's price to be fair in a discounted-cash-flow model, Kangda International would have to grow free cash flow by +12.8 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 6136 use?
Our models discount Kangda International at 13.3 %: a base by market capitalisation (micro), country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kangda International that is +12.8 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Kangda International (6136) delivered so far?
Over the past 5 years revenue at Kangda International grew -6.2 % a year. The price currently implies +12.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kangda International (6136) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Kangda International (+12.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kangda International (6136)?
The free-cash-flow yield on the price is 44.56 %: that much free cash flow Kangda International produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kangda International (6136)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kangda International it is HK$1.62 per share (as of Sep 24, 2026), against a price of HK$0.7600. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Kangda International stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6136 trades below its calculated fair value: price HK$0.7600, fair value HK$1.62, a gap of about +113% (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 6136?
No. The price is what the market pays today (HK$0.7600); the fair value is what the company's own numbers justify (HK$1.62). For Kangda International the two are HK$0.8600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kangda International worth?
The market values Kangda International at about HK$1.7B (market capitalisation, as of Sep 24, 2026). Per share that is HK$0.7600; our models calculate a fair value of HK$1.62 per share.
What do the bullish and bearish scenarios say about 6136?
Our models span a range for Kangda International: cautious scenario HK$1.16, base HK$1.62, optimistic HK$2.15 per share (as of Sep 24, 2026, price HK$0.7600). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6136?
Kangda International trades at a price-to-earnings ratio of 6.4 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$1.62 is built from several models across several years. Other multiples: P/B 0.2, P/S 0.6, EV/EBITDA 8.3.
How solid is the balance sheet of Kangda International (6136)?
Balance-sheet figures for Kangda International (as of Sep 24, 2026): return on equity 4.0%, debt of 0.95 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 6136 from its 52-week high?
Kangda International trades at HK$0.7600, about 16% below its 52-week high of HK$0.9100 and 105% above the low of HK$0.3700 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$1.62 is for.
Which stocks are comparable to Kangda International?
From the same area (Utilities) we also value American Water Works Company, SBS, Essential Utilities, Inc, Guangdong Investment Limited, 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 Kangda International stock attractive at the current price?
The data as of Sep 24, 2026: price HK$0.7600, calculated fair value HK$1.62 (+113%), Quality Score 55/100, from 22 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 6136 calculated?
We run Kangda International through 22 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$1.62, 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 13.2 % above its aggregate fair value. Kangda International currently trades 113 % 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 Kangda International (6136)?
The closing price on Sep 24, 2026 was HK$0.7600. Our model-based fair value is HK$1.62, about +113% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kangda International right now?
The price is below even our cautious bear case (HK$1.16). 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 (55/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (HK$1.16 to HK$2.15) leaves room in how you read the outcome.
Where does the earnings growth of Kangda International (6136) come from?
Earnings per share at Kangda International grew −7.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.3 %, EBIT margin +1.6 %, tax rate −1.7 %, residual (interest, one-offs) −8.5 %. 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 Kangda International
How large is the market capitalisation of Kangda International (6136)?
The market capitalisation of Kangda International is HK$1.7B (≈ $214M). 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 Kangda International (6136)?
The price-to-sales ratio of Kangda International is 0.63 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kangda International (6136)?
Earnings per share at Kangda International are HK$0.0500 (price ÷ EPS = P/E 6.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kangda International (6136)?
The net margin of Kangda International is 9.8% (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 Kangda International (6136)?
The return on equity (ROE) of Kangda International is 4.0% (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 Kangda International (6136)?
On an EBIT basis the return on assets of Kangda International is 4.9% (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 Kangda International (6136)?
The operating margin of Kangda International is 29.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kangda International (6136)?
Revenue at Kangda International is growing +10.0% versus a year earlier (3y avg −5.7%). 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 Kangda International (6136)?
Earnings per share at Kangda International are growing +113% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kangda International (6136) carry?
The net debt of Kangda International is 9.0B CNY (fiscal year 2025, ≈ 14.0 yrs of FCF). 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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