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IWS Group Holdings Ltd (6663) Fair Value & Analysis

Industrials · HK · Market cap HK$264M

IG IWS Group Holdings Ltd 6663 · HK
PriceHK$0.3000
Fair ValueHK$0.1500
Upside-50.0%
Quality71/100
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Weak Growth
Thin margins · 0.7% net margin
generates free cash flow
Mixed vs. peers (6/11)
Narrow moat 22/100
Evidence: High Range HK$0.1100 – HK$0.1800 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$0.1000 to HK$0.1500 (+50.0%) since Aug 6, 2026. Share price −9.1% over the past month.

A solid business, but screening 50% overvalued on our models.

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What matters now

  • A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (HK$0.1800). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

HK$1.14 HK$0.2152 Fair Value HK$0.1500 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$0.2152 – HK$1.14 · fair‑value band HK$0.1100 – HK$0.1800 · the HK$0.3000 price screens above the HK$0.1500 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

IWS Group Holdings Ltd (6663) currently trades at HK$0.3000, while our model-based Fair Value estimate is HK$0.1500, implying the stock looks roughly 50.0% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, IWS Group Holdings Ltd generated revenue of HK$460M at a net margin of 0.7%. Revenue grew 12.6% year over year. It earns a return on equity of 0.5%. The balance sheet holds a net cash position of HK$123M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1100 (bear case) to HK$0.1800 (bull case); at HK$0.3000, 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. The share trades about 30% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 6% fair-value upside, at -50%, 6663 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$0.1600 HK$0.1500 HK$0.1100 76
Growth DCF HK$0.2000 HK$0.2600 HK$0.3400 72
Gordon GGM HK$0.0800 HK$0.1400 HK$0.1800 70
All 26 models by family
DCF Models
FCF DCF HK$0.2000 HK$0.2700 HK$0.3700 38
Owner Earnings HK$0.1400 HK$0.1900 HK$0.2400 31
5Y Revenue Exit HK$0.1700 HK$0.2200 HK$0.2800 39
5Y EBITDA Exit HK$0.2100 HK$0.3000 HK$0.4100 41
5Y P/E Exit HK$0.1800 HK$0.2500 HK$0.3200 38
10Y Revenue Exit HK$0.1800 HK$0.2300 HK$0.2900 36
10Y EBITDA Exit HK$0.2000 HK$0.2800 HK$0.3800 37
10Y P/E Exit HK$0.1900 HK$0.2400 HK$0.3200 35
Earnings-Based
Graham-Dodd HK$0.0400 HK$0.1500 HK$0.2000 54
Lynch FV HK$0.0400 HK$0.0500 HK$0.0700 50
PEG = 1.0 HK$0.0400 HK$0.0500 HK$0.0700 46
EPV HK$0.1000 HK$0.1000 HK$0.1000 59
Dividend Discount
Gordon GGM HK$0.0800 HK$0.1400 HK$0.1800 70
DDM Multi-Stage HK$0.0800 HK$0.1300 HK$0.1500 61
Multiples
P/E Multiple HK$0.1100 HK$0.1500 HK$0.1800 63
P/S Multiple HK$0.0700 HK$0.0900 HK$0.1100 58
P/B Multiple HK$0.0700 HK$0.0900 HK$0.1100 55
EV/EBIT HK$0.2200 HK$0.2700 HK$0.3200 53
EV/EBITDA HK$0.2300 HK$0.2800 HK$0.3300 54
EV/Revenue HK$0.1400 HK$0.1800 HK$0.2100 43
Asset-Based
NCAV (Graham) HK$0.1300 HK$0.1700 HK$0.2500 50
Growth DCF
Growth DCF HK$0.2000 HK$0.2600 HK$0.3400 72
Rev-Margin DCF HK$0.1700 HK$0.2200 HK$0.2800 67
Economic Profit
Residual Income HK$0.1600 HK$0.1500 HK$0.1100 76
ROIC Compounder HK$0.1000 HK$0.1000 HK$0.1000 67
Growth Earnings
Growth-Adj P/E HK$0.0800 HK$0.1100 HK$0.1400 68

Widest divergence: DCF Models (HK$0.2400) versus Earnings-Based (HK$0.0500). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$460M
Revenue growth (YoY) +12.6%
Net margin 0.7%
Return on equity 0.5%
Free cash flow HK$11.7M FY2025
Operating margin 1.9%
More key figures
EPS (TTM) HK$0.0100
EPS growth (YoY) -14.1%
Net cash HK$123M FY2021

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

Quality Score breakdown

Overall quality 71/100

Of which business quality 72 · Market factors (momentum, volatility) 49

Profitability 53
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 82
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

IWS Group Holdings Limited, a facility services company, provides security and facility management services to public and private sectors in Hong Kong.

Full company description

IWS Group Holdings Limited, a facility services company, provides security and facility management services to public and private sectors in Hong Kong. The company's security services include general manned guarding, event and crisis security, and manpower support services at railway stations and facilities; sea, land, and railway immigration control points; and public amenities, as well as crowd coordination and management services for events, and emergency and critical incidents. Its facility management services comprise property management, car parking rental and management, and cleaning services. The company offers its services under the IWS brand name. The company was incorporated in 2018 and is headquartered in Cheung Sha Wan, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IWS Group Holdings Ltd reported revenue of HK$435M in FY2025 versus HK$366M in FY2021, a compound +4.4%/yr. Reported net income was HK$4.1M in FY2025, compounding −50.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$435M
Latest YoY
+8.1%
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.
−6.8%
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.
−2.0%
Avg. growth/yr (8Y) 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.
+19.7%
Revenue +4.4%/yr
FY21 HK$366M
FY22 HK$537M
FY23 HK$392M
FY24 HK$402M
FY25 HK$435M
Net income −50.0%/yr
FY21 HK$66.2M
FY22 HK$56.6M
FY23 HK$17.6M
FY24 HK$13.7M
FY25 HK$4.1M

6663 screens 50% overvalued. Compare with ASSA ABLOY AB →

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Cite: Fair Value Calculator (2026). "IWS Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6663

Peer Group

Security & Protection Services · 112 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 71 · Top 25%
Fair Value upside −50% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 13% · Above median
Dividend yield (TTM) 3.6% · Above median

Valuation Multiples vs Security & Protection Services median · lower = cheaper

P/B 0.17× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper than 75% of peers
P/FCF 2.9× · Cheaper than median

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 28
FUTURE 63 · sector 38
PAST 2 · sector 20
HEALTH 0 · sector 99
DIVIDEND 73 · sector 50

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.

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 Security & Protection Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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ASSA ABLOY AB ASSAB kr 360.50 kr 269.97 -25%
Verisure plc VSURE €9.33 €12.40 +33%
Allegion plc ALLE $166.11 $127.80 -23%
Securitas AB SECUB kr 147.90 kr 186.34 +26%
Zhejiang Dahua Technology Co 002236 ¥16.46 ¥31.47 +91%
MSA Safety Incorporated MSA $192.04 $116.42 -39%
ADT Inc ADT $7.31 $16.68 +128%
The Brink's Company BCO $113.96 $121.18 +6%
Brady Corporation BRC $95.12 $72.32 -24%
The GEO Group GEO $31.45 $25.50 -19%

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Frequently asked questions

Is IWS Group Holdings Ltd (6663) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.1500 versus a price of HK$0.3000, about −50% (overvalued).
What is the fair value of 6663?
Our model-based fair value for IWS Group Holdings Ltd is HK$0.1500 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.3000.
What is the quality score of 6663?
IWS Group Holdings Ltd has a Quality Score of 71/100. 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 IWS Group Holdings Ltd (6663)?
IWS Group Holdings Ltd reported trailing-twelve-month revenue of about HK$460M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6663?
The net profit margin of IWS Group Holdings Ltd is about 0.7%, meaning it keeps roughly 0.7% of revenue as net income. Based on the latest reported figures.

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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