Honma Golf Limited (6858) Fair Value & Analysis
Consumer Cyclical · HK · Market cap HK$1.7B
Fair value as of: Aug 6, 2026
From 24 valuation models · updated 4 days ago
Fair value updated Aug 6, 2026, revised from HK$3.15 to HK$3.18 (+0.9%) since Jul 2, 2026.
A solid business, screening 12% undervalued on our models.
What matters now
- Our model range runs from HK$2.38 (bear) to HK$3.97 (bull), base HK$3.18. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 54/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
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$2.58 – HK$4.96 · fair‑value band HK$2.38 – HK$3.97 · the HK$2.83 price screens below the HK$3.18 fair value. Dashed = 300-day average. As of Aug 6, 2026.
Analysis
Honma Golf Limited (6858) currently trades at HK$2.83, while our model-based Fair Value estimate is HK$3.18, implying the stock looks roughly 12.3% undervalued today. The Quality Score stands at 54/100 (solid 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: high), always confirm before acting.
Over the trailing twelve months, Honma Golf Limited generated revenue of HK$19.7B at a net margin of -9.2%. Revenue declined 19.8% year over year. It earns a return on equity of -6.9%. The balance sheet holds a net cash position of HK$10.0B. Fundamentals as of Aug 6, 2026
Our scenario range runs from HK$2.38 (bear case) to HK$3.97 (bull case); at HK$2.83, the current price sits within 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 22% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 12%, 6858 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.
All 24 models by family
Widest divergence: DCF Models (HK$51.67) versus Dividend Discount (HK$12.98). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 46
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
Honma Golf Limited, an investment holding company, designs, develops, manufactures, and sells a range of golf club equipment in Japan, Korea, Hong Kong, Macau, rest of China, North America, Europe, and internationally.
Full company description
Honma Golf Limited, an investment holding company, designs, develops, manufactures, and sells a range of golf club equipment in Japan, Korea, Hong Kong, Macau, rest of China, North America, Europe, and internationally. The company offers driver, fairway, utility, hybrid, iron, wedge, and putter clubs; and golf balls, caddie bags, golf bags, golf club head covers, golf gloves, shoes, belts and socks, and other golf-related accessories. It also offers apparel for men and women under the BERES, TOUR WORLD, Be ZEAL, and HONMA brands; and engages in trading business. The company distributes its products through HONMA-branded self-operated stores; third-party retailers, including sports megastores; and wholesale distributors that on-sell to other third parties. Honma Golf Limited was founded in 1959 and is headquartered in Tokyo, Japan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Honma Golf Limited reported revenue of HK$23.5B in FY2026 versus HK$29.0B in FY2022, a compound −5.1%/yr. Reported net income was HK$1.2B in FY2026, compounding −33.9%/yr from FY2022.
of which total revenue +1.5 pp · buybacks/dilution −0.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Leisure · 190 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 Multiples vs Leisure median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ANTA Sports Products Limited 2020 | HK$74.15 | HK$119.29 | +61% |
| Pop Mart International Group 9992 | HK$160.20 | HK$227.30 | +42% |
| Amer Sports, Inc AS | $36.44 | $16.16 | -56% |
| Hasbro, Inc HAS | $81.55 | $83.38 | +2% |
| Life Time Group LTH | $42.15 | $16.15 | -62% |
| Acushnet Holdings GOLF | $114.78 | $37.79 | -67% |
| Li Ning Company 2331 | HK$14.80 | HK$29.26 | +98% |
| Benefit Systems S.A BFT | 5,255 PLN | 3,714 PLN | -29% |
| Ninebot Limited 689009 | ¥37.82 | ¥39.17 | +4% |
| Asmodee Group ASMDEEB | kr 145.70 | kr 41.90 | -71% |
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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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