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IFBH Limited (6603) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$1.6B

IL IFBH Limited 6603 · HK
PriceHK$5.22
Fair ValueHK$1.81
Upside-65.3%
Quality68/100
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Mixed Growth
Solidly profitable · 12.9% net margin
generates free cash flow
0.45% dividend yield
Ranks above peers (8/13)
Moderate moat 61/100
Evidence: Medium Range HK$1.35 – HK$2.26 Share as image

Fair value as of: Aug 6, 2026

From 26 valuation models · updated 5 days ago

Fair value updated Aug 6, 2026, revised from HK$1.72 to HK$1.81 (+5.2%) since Jul 2, 2026. Share price −16.6% over the past month.

A solid business, but screening 65% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$2.26). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (13 months)

HK$46.61 HK$5.17 Fair Value HK$1.81 Jun 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 6, 2026.

How to read this chart

13‑month range HK$5.17 – HK$46.61 · fair‑value band HK$1.35 – HK$2.26 · the HK$5.22 price screens above the HK$1.81 fair value. As of Aug 6, 2026.

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Analysis

IFBH Limited (6603) currently trades at HK$5.22, while our model-based Fair Value estimate is HK$1.81, implying the stock looks roughly 65.3% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, IFBH Limited generated revenue of HK$176M at a net margin of 12.9%. Revenue declined 4.5% year over year. It earns a return on equity of 20.8%. The stock trades on a trailing P/E of 8.3. Fundamentals as of Aug 6, 2026

Our scenario range runs from HK$1.35 (bear case) to HK$2.26 (bull case); at HK$5.22, the current price sits above 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. For context, the median of 10 Consumer Defensive peers we cover trades at -14% fair-value upside, at -65%, 6603 screens richer 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$0.5900 HK$0.6700 HK$1.00 76
Growth DCF HK$1.19 HK$1.56 HK$2.26 72
Gordon GGM HK$1.23 HK$2.22 HK$3.06 70
All 26 models by family
DCF Models
FCF DCF HK$1.23 HK$1.51 HK$2.34 38
Owner Earnings HK$1.76 HK$2.98 HK$5.25 31
5Y Revenue Exit HK$1.43 HK$2.10 HK$3.50 39
5Y EBITDA Exit HK$1.51 HK$2.26 HK$3.73 41
5Y P/E Exit HK$1.75 HK$3.28 HK$5.40 38
10Y Revenue Exit HK$1.33 HK$2.33 HK$3.00 36
10Y EBITDA Exit HK$1.42 HK$2.48 HK$4.36 37
10Y P/E Exit HK$1.58 HK$2.94 HK$5.24 35
Earnings-Based
Graham-Dodd HK$0.5800 HK$4.08 HK$5.72 54
Lynch FV HK$1.56 HK$2.23 HK$2.90 50
PEG = 1.0 HK$1.56 HK$2.23 HK$2.90 46
EPV HK$1.24 HK$1.32 HK$1.40 59
Dividend Discount
Gordon GGM HK$1.23 HK$2.22 HK$3.06 70
DDM Multi-Stage HK$1.23 HK$2.03 HK$2.37 61
Multiples
P/E Multiple HK$1.35 HK$1.81 HK$2.26 63
P/S Multiple HK$1.00 HK$1.33 HK$1.67 58
P/B Multiple HK$1.10 HK$1.46 HK$1.83 55
EV/EBIT HK$1.87 HK$2.29 HK$2.71 53
EV/EBITDA HK$1.63 HK$1.97 HK$2.31 54
EV/Revenue HK$1.45 HK$1.81 HK$2.17 43
Asset-Based
NCAV (Graham) HK$0.3200 HK$0.4300 HK$0.6500 50
Growth DCF
Growth DCF HK$1.19 HK$1.56 HK$2.26 72
Rev-Margin DCF HK$1.44 HK$2.31 HK$3.96 67
Economic Profit
Residual Income HK$0.5900 HK$0.6700 HK$1.00 76
ROIC Compounder HK$1.27 HK$1.39 HK$1.51 67
Growth Earnings
Growth-Adj P/E HK$1.98 HK$2.84 HK$3.69 68

Widest divergence: Growth Earnings (HK$2.84) versus Asset-Based (HK$0.4300). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$176M
Revenue growth (YoY) -4.5%
Net margin 12.9%
Return on equity 20.8%
Free cash flow HK$11.9M FY2025
P/E ratio 8.3
More key figures
Operating margin 8.9%
EPS (TTM) HK$0.0700
Dividend yield 0.5%
EPS growth (YoY) -62.6%

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 66 · Market factors (momentum, volatility) 0

Profitability 59
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 80
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

IFBH Limited produces fruit juice-based beverages and non-beverage fruit products. The company produces juice drinks; crispy rolls; and plant-based drinks and snacks under the if brand, as well as offers healthier alternative to conventional sports and functional drinks under the Innococo brand name.

Full company description

IFBH Limited produces fruit juice-based beverages and non-beverage fruit products. The company produces juice drinks; crispy rolls; and plant-based drinks and snacks under the if brand, as well as offers healthier alternative to conventional sports and functional drinks under the Innococo brand name. It distributes its products in Mainland China, Hong Kong, Taiwan, Singapore, Indonesia, Australia, the United States, Canada, Kuwait, Malaysia, Laos, Philippines, Cambodia, and internationally. The company was founded in 2013 and is headquartered in Singapore. IFBH Limited operates as a subsidiary of General Beverage Company Limited.

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

Revenue & earnings trend

FY2023 – FY2025 · reported fiscal years

IFBH Limited reported revenue of HK$176M in FY2025 versus HK$87.4M in FY2023, a compound +42.0%/yr. Reported net income was HK$22.8M in FY2025, compounding +16.6%/yr from FY2023.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$176M
Latest YoY
+11.9%
Revenue +42.0%/yr
FY23 HK$87.4M
FY24 HK$158M
FY25 HK$176M
Net income +16.6%/yr
FY23 HK$16.8M
FY24 HK$33.3M
FY25 HK$22.8M

6603 screens 65% overvalued. Compare with The Coca-Cola Company →

Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
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IFBH Limited · Fair Value
HK$1.81 −65%Fair Value
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Cite: Fair Value Calculator (2026). "IFBH Limited Fair Value". https://www.fairvalue-calculator.com/stock/6603

Peer Group

Beverages - Non-Alcoholic · 92 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 68 · Top 25%
Fair Value upside −65% · Bottom 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 13% · Above median
Operating margin (TTM) 9% · Below median
Revenue growth -5% · Bottom 25%
Dividend yield (TTM) 0.5% · Bottom 25%

Valuation Multiples vs Beverages - Non-Alcoholic median · lower = cheaper

P/E (TTM) 8.3× · Cheaper than 75% of peers
P/B 1.20× · Cheaper than median
P/S (TTM) 1.17× · Cheaper than median
P/FCF 17.3× · Pricier than median
EV/EBITDA 1.6× · 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 0 · sector 27
FUTURE 0 · sector 44
PAST 83 · sector 48
HEALTH 0 · sector 95
DIVIDEND 9 · sector 46

VALUE 0: the price sits above our fair-value range.

Values & ESG

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

Alcohol

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

Similar stocks

10 more Beverages - Non-Alcoholic stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
The Coca-Cola Company KO $87.05 $36.57 -58%
PepsiCo, Inc PEP $139.02 $106.91 -23%
Monster Beverage Corporation MNST $97.50 $35.82 -63%
Nongfu Spring Co 9633 HK$41.44 HK$30.72 -26%
Coca-Cola Europacific Partners PLC CCEP €92.10 €85.41 -7%
Keurig Dr Pepper Inc KDP $31.25 $30.99 -1%
Coca-Cola FEMSA, S.A. KOF $102.04 $106.45 +4%
Coca-Cola HBC AG EEE €57.90 €52.82 -9%
Varun Beverages Limited VBL ₹495.70 ₹187.49 -62%
Eastroc Beverage (Group) Co 605499 ¥124.43 ¥107.57 -14%

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Frequently asked questions

Is IFBH Limited (6603) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of HK$1.81 versus a price of HK$5.22, about −65% (overvalued).
What is the fair value of 6603?
Our model-based fair value for IFBH Limited is HK$1.81 (as of Aug 6, 2026), built from audited fundamentals. The current price is HK$5.22.
What is the quality score of 6603?
IFBH Limited has a Quality Score of 68/100. 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 IFBH Limited (6603)?
IFBH Limited reported trailing-twelve-month revenue of about HK$176M (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 6603?
The net profit margin of IFBH Limited is about 12.9%, meaning it keeps roughly 12.9% of revenue as net income. Based on the latest reported figures.
Does IFBH Limited pay a dividend?
IFBH Limited currently shows a dividend yield of about 0.45% relative to its recent price (as of Aug 6, 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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