Qingdao Port International Co Ltd (6198) Fair Value & Analysis

Industrials · HK · Market cap HK$41.0B (≈ $5.2B) · ISIN CNE100001SG2

What is Qingdao Port International Co Ltd really worth?

QP Qingdao Port International Co Ltd 6198 · HK

PriceHK$7.27

Fair ValueHK$18.84

Upside+159.2%

Quality67/100

A solid business, trading 61% below our fair value of HK$18.84.

As of Aug 21, 2026, the fair value of Qingdao Port International Co Ltd is HK$18.84 per share against a price of HK$7.27, so the fair value sits 159% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Highly profitable · 27.4% net margin

✓Low debt · generates free cash flow

✓Ranks above peers (13/14)

✓Wide moat 74/100

Risks

!Mixed Growth (revenue 5y +7.3 %/yr)

!Evidence only low, so the estimate is less certain

For context

·5.23% dividend yield

Evidence: Low Range HK$11.69 – HK$24.80

Fair value as of: Aug 21, 2026

From 26 valuation models · updated 16 days ago

Fair value updated Aug 21, 2026, revised from HK$18.79 to HK$18.84 (+0.3%) since Aug 13, 2026. Share price +3.5% over the past month.

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$11.69). 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 (67/100) at a price below fair value, the discount is the argument here, not the business quality.
A fairly wide model range (HK$11.69 to HK$24.80) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range HK$2.56 – HK$7.69 · fair‑value band HK$11.69 – HK$24.80 · the HK$7.27 price screens below the HK$18.84 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Qingdao Port International Co Ltd (6198) currently trades at HK$7.27, while our model-based Fair Value estimate is HK$18.84, implying the stock looks roughly 61.4% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of HK$15.68 per share, and 19 of the 26 models we run sit above the HK$7.27 price. Bear case: the Asset-Based group reads lowest at HK$4.71, and 7 of the 26 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Qingdao Port International Co Ltd generated revenue of HK$19.2B at a net margin of 27.4%. Revenue grew 7.2% year over year. It earns a return on equity of 11.4%. The balance sheet holds a net cash position of HK$8.2B. Fundamentals as of Aug 21, 2026

Our scenario range runs from HK$11.69 (bear case) to HK$24.80 (bull case); at HK$7.27, 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 5% 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 19% fair-value upside, at 159%, 6198 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.3330 per share, which is 1.8 % 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$7.67 HK$11.49 HK$17.52 80

Growth DCF HK$7.74 HK$11.06 HK$15.91 78

Owner Earnings HK$9.39 HK$14.26 HK$21.94 76

All 26 models by family

DCF Models

FCF DCF best evidence HK$7.67 HK$11.49 HK$17.52 80

Owner Earnings HK$9.39 HK$14.26 HK$21.94 76

5Y Revenue Exit HK$5.88 HK$8.28 HK$11.33 73

5Y EBITDA Exit HK$11.24 HK$18.54 HK$27.26 74

5Y P/E Exit HK$11.11 HK$18.30 HK$26.05 70

10Y Revenue Exit HK$6.35 HK$8.72 HK$11.93 67

10Y EBITDA Exit HK$9.91 HK$15.94 HK$24.36 67

10Y P/E Exit HK$9.83 HK$15.77 HK$23.42 63

Earnings-Based

Graham-Dodd HK$5.51 HK$19.15 HK$25.74 64

Lynch FV HK$4.45 HK$6.35 HK$8.26 61

PEG = 1.0 HK$4.45 HK$6.35 HK$8.26 57

EPV HK$9.80 HK$11.19 HK$12.41 74

Dividend Discount

Gordon GGM HK$3.10 HK$6.44 HK$10.22 66

DDM Multi-Stage HK$3.10 HK$5.40 HK$6.76 66

Multiples

P/E Multiple HK$12.76 HK$17.01 HK$21.26 63

P/S Multiple HK$4.33 HK$5.78 HK$7.22 58

P/B Multiple HK$10.33 HK$13.77 HK$17.21 55

EV/EBIT HK$15.38 HK$20.03 HK$24.67 66

EV/EBITDA HK$14.41 HK$18.73 HK$23.06 67

EV/Revenue HK$5.09 HK$6.65 HK$8.21 54

Asset-Based

NCAV (Graham) HK$3.51 HK$4.71 HK$7.03 54

Growth DCF

Growth DCF HK$7.74 HK$11.06 HK$15.91 78

Rev-Margin DCF HK$5.88 HK$8.31 HK$11.21 73

Economic Profit

Residual Income HK$6.44 HK$7.46 HK$13.46 73

ROIC Compounder HK$10.44 HK$13.06 HK$16.31 72

Growth Earnings

Growth-Adj P/E HK$10.98 HK$15.68 HK$20.38 67

Widest divergence: Growth Earnings (HK$15.68) versus Asset-Based (HK$4.71). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 6.7 as of Jul 2, 2026

P/S ratio 1.88 P/E × margin

EPS (TTM) HK$0.8686 price ÷ EPS = P/E 6.7

Dividend yield 5.2% payout 43.8%

Net margin 28.0% FY2025

Return on equity 11.4% TTM

More key figures

Profitability

Return on assets (EBIT) 10.8% avg 5y

Operating margin 34.3% TTM

Growth

Revenue (TTM) HK$19.2B TTM

Revenue growth (YoY) +7.2% 3y avg −0.8%

EPS growth (YoY) −4.5%

Balance sheet & cash flow

Free cash flow HK$3.5B FY2025

Net cash HK$8.2B FY2025

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 65 · Market factors (momentum, volatility) 63

Profitability 47

Margins and returns on capital today

Quality Growth 43

Are margins and returns improving?

Cashflow 65

Earnings quality: real cash, not paper profit

Fin. Strength 91

Balance sheet, leverage, solvency risk

Investment 60

Disciplined investing over empire-building

Low Volatility 89

Calm price path (market factor)

Momentum 46

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

52W Momentum 63

Distance to the 52-week high (market factor)

Net Issuance 78

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

Qingdao Port International Co., Ltd. operates the Port of Qingdao. It operates through five segments: Container Handling and Supporting Services; Dry Bulk Cargo Handling and Related Services; Liquid Bulk Handling and Supporting Services; Logistics and Port Value-Added Services; and Port Auxiliary Services. The company is involved in the loading and discharging of containers, loading, unloading, storage, transportation, and port management of crude oil and other liquid bulk cargoes metal ores, coal, grains, general cargo, and other goods. It also provides storage services; and container freight station, cargo logistics, agency, towing, tallying, facilities construction, and other services. In addition, the company manufactures port-related equipment; and supplies electricity, power, fuel, and other products. Further, it offers tugboat and barging, and ocean shipping tallying services; and security, emergency, and handling. Additionally, the company provides shipping repair and agency, freight forwarding, engineering and construction, ship agency, property management, media, lightering, fuel storage, oil pipeline transportation, and check and inspection services. It also engages in the LNG operations; production of electricity and heat; and selling of goods. The company was incorporated in 2013 and is headquartered in Qingdao, the People's Republic of China. Qingdao Port International Co., Ltd. operates as a subsidiary of Qingdao Port Group Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Qingdao Port International Co Ltd reported revenue of 18.8B CNY in FY2025 versus 16.8B CNY in FY2021, a compound +2.9%/yr. Reported net income was 5.3B CNY in FY2025, compounding +7.3%/yr from FY2021.

Growth Quality 73/100

Revenue is growing, but margins or cash flow do not fully confirm the trend.

Latest Revenue (FY 2025)

HK$18.8B

Latest YoY

−0.7%

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.

−0.8%

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.

+7.3%

Avg. revenue growth/yr (14Y) ⓘ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.

+9.8%

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

+11.7% · in HKD

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

Earnings growth per share+6.5%

Dividend yield5.2%

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 6.5% vs 10Y 8.5%, steady

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.40.2% (2018) → 37.2% (2023) · falling

Worst earnings drop77% (2016) · in HKD

Revenue +2.9%/yr

FY21 16.8B CNY

FY22 19.3B CNY

FY23 18.2B CNY

FY24 18.9B CNY

FY25 18.8B CNY

Net income +7.3%/yr

FY21 4.0B CNY

FY22 4.5B CNY

FY23 4.9B CNY

FY24 5.2B CNY

FY25 5.3B CNY

Character of growth · EPS growth decomposed (2014-2025) +18.5 % p.a.

Revenue per share +17.1 %

of which total revenue +10.4 % · buybacks/dilution +6.1 %

EBIT margin +4.5 %

Tax rate −0.1 %

Residual (interest, one-offs) −3.0 %

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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Qingdao Port International Co Ltd · Fair Value
HK$18.84 +61%Fair Value
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Cite: Fair Value Calculator (2026). "Qingdao Port International Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6198.HK

Peer Group

Marine Shipping · 232 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 +43% · Top 25%

Return on equity (TTM) 11% · Above median

Return on assets 5% · Above median

Net margin (TTM) 27% · Top 25%

Operating margin (TTM) 34% · Top 25%

Revenue growth 7% · Above median

Dividend yield (TTM) 5.2% · Top 25%

Debt / equity 0.07× · Lower than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 6.7× · Cheaper than 75% of peers

P/B 0.90× · Cheaper than median

P/S (TTM) 2.14× · Pricier than median

P/FCF 1.5× · Cheaper than median

EV/EBITDA 4.5× · Cheaper than median

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

VALUE90 · sector 31

FUTURE36 · sector 24

PAST45 · sector 28

HEALTH96 · sector 89

DIVIDEND100 · sector 53

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

Similar stocks

10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

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A.P. Møller - Mærsk A/S MAERSKA	kr 20,820	kr 20,145	−3%
532921 532921	₹1,697	₹1,305	−23%
COSCO SHIPPING Holdings 601919	¥16.06	¥49.90	+211%
Hapag-Lloyd Aktiengesellschaft, HLAG	€132.80	€88.00	−34%
Shanghai International Port (Group) Co 600018	¥5.17	¥6.15	+19%
HMM Co 011200	21,450 KRW	33,795 KRW	+58%
Orient Overseas (International) Limited 0316	HK$166.90	HK$237.61	+42%
Ningbo Zhoushan Port Company 601018	¥3.39	¥5.58	+65%
JSW Infrastructure Limited JSWINFRA	₹329.85	₹122.71	−63%

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Frequently asked questions

Is Qingdao Port International Co Ltd (6198) overvalued or undervalued?

As of Aug 21, 2026, our model estimates a fair value of HK$18.84 versus a price of HK$7.27, about +159% upside (undervalued).

What is the fair value of 6198?

Our model-based fair value for Qingdao Port International Co Ltd is HK$18.84 (as of Aug 21, 2026), built from audited fundamentals. The current price: HK$7.27.

What is the quality score of 6198?

Qingdao Port International Co Ltd 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 price target for Qingdao Port International Co Ltd (6198)?

Our model-based price target is the fair value of HK$18.84 (as of Aug 21, 2026) from 26 valuation models. Cautious scenario HK$11.69, optimistic scenario HK$24.80. It is a calculation from audited fundamentals, not an analyst target.

What is the Qingdao Port International Co Ltd stock forecast for 2026?

Our models put fair value at HK$18.84, about +159% upside versus a price of HK$7.27 (undervalued). Cautious scenario HK$11.69, optimistic scenario HK$24.80. The calculation is refreshed regularly with new filings.

What is the revenue of Qingdao Port International Co Ltd (6198)?

Qingdao Port International Co Ltd reported trailing-twelve-month revenue of about HK$19.2B (latest available figure, as of Aug 21, 2026).

What is the net profit margin of 6198?

The net profit margin of Qingdao Port International Co Ltd is about 27.4%, meaning it keeps roughly 27.4% of revenue as net income. Based on the latest reported figures.

Does Qingdao Port International Co Ltd pay a dividend?

Qingdao Port International Co Ltd currently shows a dividend yield of about 5.23% relative to its recent price (as of Aug 21, 2026).

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