Kwong Man Kee Group Ltd (8023) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Kwong Man Kee Group Ltd HK$0.27, price HK$0.39, upside -30.8%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$0.2550 – HK$0.4903 · fair‑value band HK$0.1700 – HK$0.3500 · the HK$0.3900 price screens above the HK$0.2700 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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Kwong Man Kee Group Limited, an investment holding company, provides engineering services to the car park flooring industry in Hong Kong, Macau, and other Asian regions.
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Kwong Man Kee Group Limited, an investment holding company, provides engineering services to the car park flooring industry in Hong Kong, Macau, and other Asian regions. The company offers flooring services, including application of proprietary floor coating products for providing a colorful, slip-resistance, and hard-wearing surface that is resistant against water and petrochemicals; and ancillary services, such as specialized texture painting and waterproofing works. It also offers screeding and anti-skid surfacing services; trades in materials; and sells flooring and waterproofing materials. Kwong Man Kee Group Limited was incorporated in 2016 and is headquartered in Kowloon, Hong Kong. Kwong Man Kee Group Limited is a subsidiary of Sage City Investments Limited.
Stock analysis
Kwong Man Kee Group Ltd (8023) currently trades at HK$0.3900, while our model-based Fair Value estimate is HK$0.2700, 30.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$0.3100 per share, and 5 of the 25 models we run sit above the HK$0.3900 price.
Bear case: the Growth DCF group reads lowest at HK$0.0800, and 20 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$0.1700 (bear) to HK$0.3500 (bull), the price of HK$0.3900 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 55/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kwong Man Kee Group Ltd reported revenue of HK$167M in FY2025 versus HK$119M in FY2021, a compound +8.9%/yr. Reported net income was HK$8.2M in FY2025, compounding −14.8%/yr from FY2021.
Key figures
Market cap HK$233M (≈ $29.7M) · P/E ratio 17.0 · P/S ratio 0.83 · EPS (TTM) HK$0.0100 · Dividend yield 1.3% · Net margin 4.9% · Return on equity 6.7% · Return on assets (EBIT) 10.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 53% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −31%, 8023 screens cheaper than that median.
Fair Value models
Bear HK$0.1700Fair Value HK$0.2700Bull HK$0.3500
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (HK$0.0050 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+13.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
Start year 2020 (pandemic). Over 10 years: +14.6% a year
Revenue growth 10 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.8%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−3.8% vs −5.1%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 8%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
Compare Kwong Man Kee Group Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Engineering & Construction · 798 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−30.8% · Below median
Profitability
Return on equity (TTM)6.7% · Below median
Return on assets4.6% · Above median
Net margin (TTM)4.7% · Above median
Operating margin (TTM)10.5% · Top 25%
Growth and dividend
Revenue growth8.4% · Above median
Dividend yield (TTM)1.3% · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)17.0× · Pricier than median
P/B1.83× · Pricier than median
P/S (TTM)1.35× · Pricier than median
EV/EBITDA12.2× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)42· sector 13
PAST (return on equity)27· sector 28
HEALTH (low debt)0· sector 94
DIVIDEND (yield)26· sector 40
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Kwong Man Kee Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8023
Frequently asked questions
Is Kwong Man Kee Group Ltd (8023) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.2700 versus a price of HK$0.3900, about −31% upside (overvalued).
What is the fair value of 8023?
Our model-based fair value for Kwong Man Kee Group Ltd is HK$0.2700 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$0.3900.
What is the quality score of 8023?
Kwong Man Kee Group Ltd has a Quality Score of 55/100. 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 Kwong Man Kee Group Ltd (8023)?
Our model-based price target is the fair value of HK$0.2700 (as of Sep 27, 2026) from 25 valuation models. Cautious scenario HK$0.1700, optimistic scenario HK$0.3500. It is a calculation from audited fundamentals, not an analyst target.
What is the Kwong Man Kee Group Ltd stock forecast for 2026?
Our models put fair value at HK$0.2700, about −31% upside versus a price of HK$0.3900 (overvalued). Cautious scenario HK$0.1700, optimistic scenario HK$0.3500. The calculation is refreshed regularly with new filings.
What is the revenue of Kwong Man Kee Group Ltd (8023)?
Kwong Man Kee Group Ltd reported trailing-twelve-month revenue of about HK$173M (latest available figure, as of Sep 27, 2026).
Does Kwong Man Kee Group Ltd pay a dividend?
Kwong Man Kee Group Ltd currently shows a dividend yield of about 1.28% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Kwong Man Kee Group Ltd (8023)?
For today's price to be fair in a discounted-cash-flow model, Kwong Man Kee Group Ltd would have to grow free cash flow by more than 80 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.9 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 8023 use?
Our models discount Kwong Man Kee Group Ltd at 9.0 %: a base by market capitalisation (nano), damped by beta 0.13, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kwong Man Kee Group Ltd that is more than 80 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Kwong Man Kee Group Ltd (8023) delivered so far?
Over the past 5 years revenue at Kwong Man Kee Group Ltd grew +11.9 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kwong Man Kee Group Ltd (8023) growing?
The median revenue growth in the sector is +5.7 % a year. That is the yardstick for the growth priced into Kwong Man Kee Group Ltd (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kwong Man Kee Group Ltd (8023)?
The free-cash-flow yield on the price is 0.13 %: that much free cash flow Kwong Man Kee Group Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kwong Man Kee Group Ltd (8023)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kwong Man Kee Group Ltd it is HK$0.2700 per share (as of Sep 27, 2026), against a price of HK$0.3900. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Kwong Man Kee Group Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 8023 trades above its calculated fair value: price HK$0.3900, fair value HK$0.2700, a gap of about −31% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 8023?
No. The price is what the market pays today (HK$0.3900); the fair value is what the company's own numbers justify (HK$0.2700). For Kwong Man Kee Group Ltd the two are HK$0.1200 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kwong Man Kee Group Ltd worth?
The market values Kwong Man Kee Group Ltd at about HK$233M (market capitalisation, as of Sep 27, 2026). Per share that is HK$0.3900; our models calculate a fair value of HK$0.2700 per share.
What do the bullish and bearish scenarios say about 8023?
Our models span a range for Kwong Man Kee Group Ltd: cautious scenario HK$0.1700, base HK$0.2700, optimistic HK$0.3500 per share (as of Sep 27, 2026, price HK$0.3900). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 8023?
Kwong Man Kee Group Ltd trades at a price-to-earnings ratio of 17.0 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.2700 is built from several models across several years. Other multiples: P/B 1.8, P/S 1.3, EV/EBITDA 12.2.
How solid is the balance sheet of Kwong Man Kee Group Ltd (8023)?
Balance-sheet figures for Kwong Man Kee Group Ltd (as of Sep 27, 2026): return on equity 6.7%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 8023 from its 52-week high?
Kwong Man Kee Group Ltd trades at HK$0.3900, about 8% below its 52-week high of HK$0.4250 and 53% above the low of HK$0.2550 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2700 is for.
Which stocks are comparable to Kwong Man Kee Group Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kwong Man Kee Group Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$0.3900, calculated fair value HK$0.2700 (−31%), Quality Score 55/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 8023 calculated?
We run Kwong Man Kee Group Ltd through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.2700, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. Kwong Man Kee Group Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Kwong Man Kee Group Ltd (8023)?
The closing price on Sep 30, 2026 was HK$0.3900. Our model-based fair value is HK$0.2700, about −31% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kwong Man Kee Group Ltd right now?
The price sits above even our optimistic bull case (HK$0.3500). The favourable scenario is already priced in. 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 but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (HK$0.1700 to HK$0.3500) leaves room in how you read the outcome.
Where does the earnings growth of Kwong Man Kee Group Ltd (8023) come from?
Earnings per share at Kwong Man Kee Group Ltd grew −0.2 % a year from 2015 to 2025. Broken into its drivers: revenue per share +13.4 %, EBIT margin −10.2 %, tax rate −0.5 %, residual (interest, one-offs) −1.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Kwong Man Kee Group Ltd
How large is the market capitalisation of Kwong Man Kee Group Ltd (8023)?
The market capitalisation of Kwong Man Kee Group Ltd is HK$233M (≈ $29.7M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Kwong Man Kee Group Ltd (8023)?
The price-to-sales ratio of Kwong Man Kee Group Ltd is 0.83 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kwong Man Kee Group Ltd (8023)?
Earnings per share at Kwong Man Kee Group Ltd are HK$0.0100 (price ÷ EPS = P/E 17.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kwong Man Kee Group Ltd (8023)?
The dividend yield of Kwong Man Kee Group Ltd is 1.3% (payout 50.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Kwong Man Kee Group Ltd (8023)?
The net margin of Kwong Man Kee Group Ltd is 4.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Kwong Man Kee Group Ltd (8023)?
The return on equity (ROE) of Kwong Man Kee Group Ltd is 6.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Kwong Man Kee Group Ltd (8023)?
On an EBIT basis the return on assets of Kwong Man Kee Group Ltd is 10.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Kwong Man Kee Group Ltd (8023)?
The operating margin of Kwong Man Kee Group Ltd is 10.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kwong Man Kee Group Ltd (8023)?
Revenue at Kwong Man Kee Group Ltd is growing +8.4% versus a year earlier (3y avg +14.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Kwong Man Kee Group Ltd (8023)?
Earnings per share at Kwong Man Kee Group Ltd are growing −1.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Kwong Man Kee Group Ltd (8023) hold?
Kwong Man Kee Group Ltd holds more cash than debt, HK$24.3M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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