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Data-driven stock valuation

IFBH Ltd (6603) fair value: what the stock is really worth

We calculate from audited financials what IFBH Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Consumer Defensive · HK · Market cap HK$1.6B (≈ $206M)

At a glance

IL IFBH Ltd 6603 · HK
PriceHK$4.27
Fair ValueHK$14.16
Upside+232.0%
Quality68/100

A solid business, trading 70% below our fair value of HK$14.16.

As of Aug 22, 2026, the fair value of IFBH Ltd is HK$14.16 per share against a price of HK$4.27, so the fair value sits 232% above the price. A model estimate from reported figures, not an analyst target.

!Mixed Growth (revenue YoY +11.9 %/yr)
✓Solidly profitable · 12.9% net margin
✓generates free cash flow
·0.61% dividend yield
✓Ranks above peers (8/12)
!Moderate moat 61/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 12 out of 100
Evidence: Low Range HK$10.62 to HK$17.70

Fair value as of: Aug 22, 2026

From 26 valuation models · updated 17 days ago

Fair value updated Aug 22, 2026, revised from HK$1.81 to HK$14.16 (+682.3%) since Aug 13, 2026. Share price −17.4% over the past month.

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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 →

What matters now

  • The price is below even our cautious bear case (HK$10.62). 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 (68/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (14 months)

HK$46.61 HK$4.27 Fair Value HK$14.16 Jun 2025 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 22, 2026.

How to read this chart

14‑month range HK$4.27 – HK$46.61 · fair‑value band HK$10.62 – HK$17.70 · the HK$4.27 price screens below the HK$14.16 fair value. As of Aug 22, 2026.

Full chart & analysis →

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Analysis

IFBH Ltd (6603) currently trades at HK$4.27, while our model-based Fair Value estimate is HK$14.16, implying the stock looks roughly 69.9% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of HK$2.84 per share, and 0 of the 26 models we run sit above the HK$4.27 price. Bear case: the Growth DCF group reads lowest at HK$1.56, and 26 of the 26 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, IFBH Ltd 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 (as of Jul 2, 2026). Fundamentals as of Aug 22, 2026

Scenario range: HK$10.62 (bear) to HK$17.70 (bull), the price of HK$4.27 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. For context, the median of 10 Consumer Defensive peers we cover trades at −18% fair-value upside, at 232%, 6603 screens cheaper than that median.

Fair Value models

Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (HK$0.0303 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

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$1.23 HK$1.51 HK$2.34 71
Growth DCF HK$1.19 HK$1.56 HK$2.26 69
EPV HK$1.24 HK$1.32 HK$1.40 68
All 26 models by family
DCF Models
FCF DCF best evidence HK$1.23 HK$1.51 HK$2.34 71
Owner Earnings HK$1.76 HK$2.98 HK$5.25 64
5Y Revenue Exit HK$1.43 HK$2.10 HK$3.50 62
5Y EBITDA Exit HK$1.51 HK$2.26 HK$3.73 64
5Y P/E Exit HK$1.75 HK$3.28 HK$5.40 59
10Y Revenue Exit HK$1.33 HK$2.33 HK$3.00 58
10Y EBITDA Exit HK$1.42 HK$2.48 HK$4.36 57
10Y P/E Exit HK$1.58 HK$2.94 HK$5.24 53
Earnings-Based
Graham-Dodd HK$0.5800 HK$4.08 HK$5.72 57
Lynch FV HK$1.56 HK$2.23 HK$2.90 55
PEG = 1.0 HK$1.56 HK$2.23 HK$2.90 52
EPV HK$1.24 HK$1.32 HK$1.40 68
Dividend Discount
Gordon GGM HK$1.23 HK$2.22 HK$3.06 61
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 63
EV/EBITDA HK$1.63 HK$1.97 HK$2.31 64
EV/Revenue HK$1.45 HK$1.81 HK$2.17 52
Asset-Based
NCAV (Graham) HK$0.3200 HK$0.4300 HK$0.6500 51
Growth DCF
Growth DCF HK$1.19 HK$1.56 HK$2.26 69
Rev-Margin DCF HK$1.44 HK$2.31 HK$3.96 61
Economic Profit
Residual Income HK$0.5900 HK$0.6700 HK$1.00 68
ROIC Compounder HK$1.27 HK$1.39 HK$1.51 64
Growth Earnings
Growth-Adj P/E HK$1.98 HK$2.84 HK$3.69 61

Widest divergence: Growth Earnings (HK$2.84) versus Asset-Based (HK$0.4300). Highest evidence: FCF DCF (71).

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Key figures & financial health

P/E ratio 8.3 as of Jul 2, 2026
P/S ratio 1.08 P/E × margin
EPS (TTM) HK$0.0700 price ÷ EPS = P/E 8.3
Dividend yield 0.6% payout 37.1%
Net margin 12.9% FY2025
Return on equity 20.8% TTM
More key figures
Profitability
Return on assets (EBIT) 45.9% avg 3y
Operating margin 8.9% TTM
Growth
Revenue (TTM) HK$176M TTM
Revenue growth (YoY) −4.5%
EPS growth (YoY) −62.6%
Balance sheet & cash flow
Free cash flow HK$11.9M FY2025

Figures from reported company fundamentals · as of Aug 22, 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.

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

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 Ltd reported revenue of $176M in FY2025 versus $87.4M in FY2023, a compound +42.0%/yr. Reported net income was $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%
Value creation/yr ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed
Revenue +42.0%/yr
FY23 $87.4M
FY24 $158M
FY25 $176M
Net income +16.6%/yr
FY23 $16.8M
FY24 $33.3M
FY25 $22.8M

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IFBH Ltd · Fair Value
HK$14.16 +70%Fair Value
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Cite: Fair Value Calculator (2026). "IFBH Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6603.HK

Peer Group

Beverages - Non-Alcoholic · 87 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.

Valuation
Quality Score 68 · Top 25%
Fair Value upside +189% · Top 25%
Profitability
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
Growth and dividend
Revenue growth −5% · Bottom 25%
Dividend yield (TTM) 0.6% · Bottom 25%

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

P/E (TTM) 8.3× · Cheapest 25%
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× · Cheapest 25%

What the price implies (reverse DCF)

The inverse question: what free-cash-flow growth must IFBH Ltd deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.

Implied FCF growth, 10 years+35.0 % per year
Achieved revenue growth, 2 years+42.0 % p.a.
Sector median revenue growth+4.6 %
FCF yield on price1.04 %
Discount rate (WACC) in the models12.5 %

The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →

Context: sector, industry, market

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 16
FUTURE0 · sector 46
PAST83 · sector 51
HEALTH0 · sector 96
DIVIDEND12 · sector 54

Values & ESG

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

Alcohol

Similar stocks

10 more Beverages - Non-Alcoholic stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
The Coca-Cola Company KO $88.07 $36.57 −58%
PepsiCo, Inc PEP $137.63 $106.91 −22%
Monster Beverage Corporation MNST $43.82 $35.82 −18%
Nongfu Spring Co 9633 HK$42.54 HK$30.90 −27%
Coca-Cola Europacific Partners PLC CCEP €93.10 €70.86 −24%
Keurig Dr Pepper Inc KDP $32.18 $30.99 −4%
Coca-Cola FEMSA, S.A. KOF $112.00 $108.87 −3%
Coca-Cola HBC AG EEE €53.10 €46.77 −12%
Varun Beverages Limited VBL ₹431.00 ₹187.49 −56%
Eastroc Beverage (Group) Co 605499 ¥123.07 ¥107.57 −13%

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Frequently asked questions

Is IFBH Ltd (6603) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of HK$14.16 versus a price of HK$4.27, about +232% upside (undervalued).
What is the fair value of 6603?
Our model-based fair value for IFBH Ltd is HK$14.16 (as of Aug 22, 2026), built from audited fundamentals. The current price: HK$4.27.
What is the quality score of 6603?
IFBH Ltd 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 price target for IFBH Ltd (6603)?
Our model-based price target is the fair value of HK$14.16 (as of Aug 22, 2026) from 26 valuation models. Cautious scenario HK$10.62, optimistic scenario HK$17.70. It is a calculation from audited fundamentals, not an analyst target.
What is the IFBH Ltd stock forecast for 2026?
Our models put fair value at HK$14.16, about +232% upside versus a price of HK$4.27 (undervalued). Cautious scenario HK$10.62, optimistic scenario HK$17.70. The calculation is refreshed regularly with new filings.
What is the revenue of IFBH Ltd (6603)?
IFBH Ltd reported trailing-twelve-month revenue of about HK$176M (latest available figure, as of Aug 22, 2026).
What is the net profit margin of 6603?
The net profit margin of IFBH Ltd is about 12.9%, meaning it keeps roughly 12.9% of revenue as net income. Based on the latest reported figures.
Does IFBH Ltd pay a dividend?
IFBH Ltd currently shows a dividend yield of about 0.61% relative to its recent price (as of Aug 22, 2026).
What growth is priced into IFBH Ltd (6603)?
For today's price to be fair in a discounted-cash-flow model, IFBH Ltd would have to grow free cash flow by +35.0 % per year for ten years (discount rate 12.5 %, then 2 % perpetual growth). Over the last 2 years revenue grew +42.0 % per year. As of Aug 22, 2026.
What discount rate (WACC) does the fair value of 6603 use?
Our models discount IFBH Ltd at 12.5 %: a base by market capitalisation (micro). The same rate applies in all 26 models.
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