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Sun Art Retail Group (6808) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$9.0B

SA Sun Art Retail Group 6808 · HK
PriceHK$1.16
Fair ValueHK$1.85
Upside+59.5%
Quality48/100
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Weak Growth
Loss-making · -0.5% net margin
Low debt · generates free cash flow
15.70% dividend yield
Trails peers (5/13)
Narrow moat 16/100
Evidence: Medium Range HK$1.72 – HK$2.05 Share as image

Fair value as of: Aug 6, 2026

From 12 valuation models · updated 4 days ago

Fair value updated Aug 6, 2026, revised from HK$1.99 to HK$1.85 (−7.0%) since Jul 2, 2026. Share price +8.4% over the past month.

Below-average quality, screening 59% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$1.72). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$5.28 HK$0.7343 Fair Value HK$1.85 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range HK$0.7343 – HK$5.28 · fair‑value band HK$1.72 – HK$2.05 · the HK$1.16 price screens below the HK$1.85 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Sun Art Retail Group (6808) currently trades at HK$1.16, while our model-based Fair Value estimate is HK$1.85, implying the stock looks roughly 59.5% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Sun Art Retail Group generated revenue of HK$63.4B at a net margin of -0.5%. Revenue declined 10.6% year over year. It earns a return on equity of -1.7%. The balance sheet holds a net cash position of HK$2.8B. Fundamentals as of Aug 6, 2026

Our scenario range runs from HK$1.72 (bear case) to HK$2.05 (bull case); at HK$1.16, 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 44% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 50% fair-value upside, at 59%, 6808 screens cheaper 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
Growth DCF HK$1.33 HK$1.42 HK$1.56 80
Gordon GGM HK$1.93 HK$2.10 HK$2.37 70
DDM Multi-Stage HK$1.93 HK$2.38 HK$3.01 61
All 12 models by family
DCF Models
FCF DCF HK$1.32 HK$1.41 HK$1.57 38
Owner Earnings HK$2.97 HK$3.66 HK$4.90 31
5Y Revenue Exit HK$1.30 HK$1.41 HK$1.56 39
5Y EBITDA Exit HK$2.37 HK$3.26 HK$4.43 41
10Y Revenue Exit HK$1.30 HK$1.38 HK$1.46 36
10Y EBITDA Exit HK$1.94 HK$2.50 HK$3.11 37
Dividend Discount
Gordon GGM HK$1.93 HK$2.10 HK$2.37 70
DDM Multi-Stage HK$1.93 HK$2.38 HK$3.01 61
Multiples
EV/EBITDA HK$3.41 HK$4.19 HK$4.97 54
EV/Revenue HK$1.31 HK$1.42 HK$1.52 43
Asset-Based
NCAV (Graham) HK$0.9100 HK$1.21 HK$1.81 50
Growth DCF
Growth DCF HK$1.33 HK$1.42 HK$1.56 80

Widest divergence: Dividend Discount (HK$2.10) versus Asset-Based (HK$1.21). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$63.4B
Revenue growth (YoY) -10.6%
Net margin -0.5%
Return on equity -1.7%
Free cash flow HK$254M FY2025
Operating margin 0.3%
More key figures
EPS (TTM) HK$0.0100
EPS growth (YoY) -86.0%
Net cash HK$2.8B FY2025

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

Quality Score breakdown

Overall quality 48/100

Of which business quality 47 · Market factors (momentum, volatility) 21

Profitability 37
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 11
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

Sun Art Retail Group Limited, an investment holding company, operates brick-and-mortar stores and online sales channels in the People's Republic of China. The company operates hypermarkets, super stores, and membership stores under RT-Mart, RT-Super, and M-Club brand names.

Full company description

Sun Art Retail Group Limited, an investment holding company, operates brick-and-mortar stores and online sales channels in the People's Republic of China. The company operates hypermarkets, super stores, and membership stores under RT-Mart, RT-Super, and M-Club brand names. It also provides consulting, investment, procurement centre, wholesaling, and retailing services. Sun Art Retail Group Limited was formerly known as Sun Holdings Greater China Limited and changed its name to Sun Art Retail Group Limited in May 2011. The company was founded in 1998 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sun Art Retail Group reported revenue of HK$61.2B in FY2025 versus HK$88.1B in FY2021, a compound −8.7%/yr. Reported net income was −HK$308M in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$61.2B
Latest YoY
−14.4%
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.
−9.9%
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.
−9.3%
Avg. growth/yr (17Y) 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.
+3.0%
Revenue −8.7%/yr
FY21 HK$88.1B
FY22 HK$83.7B
FY23 HK$72.6B
FY24 HK$71.6B
FY25 HK$61.2B
Net income
FY21 −HK$826M
FY22 HK$109M
FY23 −HK$1.6B
FY24 HK$405M
FY25 −HK$308M

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Cite: Fair Value Calculator (2026). "Sun Art Retail Group Fair Value". https://www.fairvalue-calculator.com/stock/6808

Peer Group

Department Stores · 127 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 48 · Below median
Fair Value upside +60% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) -1% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth -11% · Bottom 25%
Dividend yield (TTM) 15.7% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Department Stores median · lower = cheaper

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.02× · Cheaper than 75% of peers
P/FCF 4.5× · Pricier than 75% of peers
PEG 1.55× · Pricier 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 100 · sector 26
FUTURE 0 · sector 2
PAST 0 · sector 16
HEALTH 100 · sector 96
DIVIDEND 100 · sector 37

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 Department Stores stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 5,875 CLP 8,880 CLP +51%
El Puerto de Liverpool, S.A. LIVEPOLC1 99.62 MXN 263.70 MXN +165%
99 Speed Mart Retail Holdings 5326 3.70 MYR 1.45 MYR -61%
Cencosud S.A CENCOSUD 2,040 CLP 2,516 CLP +23%
Vishal Mega Mart Limited VMM ₹113.94 ₹37.39 -67%
SHINSEGAE Inc 004170 610,000 KRW 200,259 KRW -67%
Organización Soriana, S. A. B. de C. V., SORIANAB 30.04 MXN 59.59 MXN +98%
Lotte Shopping Co 023530 155,300 KRW 81,725 KRW -47%
Lojas Renner S.A LREN3 R$14.10 R$33.36 +137%
La Comer, S.A. LACOMERUBC 34.37 MXN 51.49 MXN +50%

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Frequently asked questions

Is Sun Art Retail Group (6808) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of HK$1.85 versus a price of HK$1.16, about +59% (undervalued).
What is the fair value of 6808?
Our model-based fair value for Sun Art Retail Group is HK$1.85 (as of Aug 6, 2026), built from audited fundamentals. The current price is HK$1.16.
What is the quality score of 6808?
Sun Art Retail Group has a Quality Score of 48/100. 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 Sun Art Retail Group (6808)?
Sun Art Retail Group reported trailing-twelve-month revenue of about HK$63.4B (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 6808?
The net profit margin of Sun Art Retail Group is about -0.5%, meaning it is currently running at a net loss. 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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