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Link Holdings (8237) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$195M

LH Link Holdings 8237 · HK
PriceHK$1.02
Fair ValueHK$2.15
Upside+111.4%
Quality36/100
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Weak Growth
Low debt · negative free cash flow
Trails peers (3/8)
Narrow moat 10/100
Evidence: Medium Range HK$1.29 – HK$8.58 Share as image

Fair value as of: Aug 6, 2026

From 10 valuation models · updated today

Share price −3.3% over the past month.

Below-average quality, screening 111% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (HK$1.29). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (HK$1.29 to HK$8.58). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

HK$1.32 HK$0.1430 Fair Value HK$2.15 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$0.1430 – HK$1.32 · fair‑value band HK$1.29 – HK$8.58 · the HK$1.02 price screens below the HK$2.15 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Link Holdings (8237) currently trades at HK$1.02, while our model-based Fair Value estimate is HK$2.15, implying the stock looks roughly 111.4% undervalued today. We read business quality at 36/100 (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.

Trailing-twelve-month revenue stands at HK$13.3M. Revenue declined 38.4% year over year. Net debt stands at HK$6.1M. Fundamentals as of Aug 6, 2026

Our scenario range runs from HK$1.29 (bear case) to HK$8.58 (bull case); at HK$1.02, the current price sits below that range. The share trades about 15% below its 52-week high, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -62% fair-value upside, at 111%, 8237 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 BearBaseBull Evidence
Highest evidence
Growth-Adj P/E HK$28.00 HK$40.00 HK$52.01 68
P/E Multiple HK$13.31 HK$17.74 HK$22.18 63
Residual Income HK$2.31 HK$3.92 HK$74.77 61
All 10 models by family
DCF Models
Owner Earnings HK$9.49 HK$18.63 HK$34.59 31
Earnings-Based
Graham-Dodd HK$6.03 HK$42.06 HK$59.03 54
Lynch FV HK$21.73 HK$31.05 HK$40.36 50
PEG = 1.0 HK$21.73 HK$31.05 HK$40.36 46
Multiples
P/E Multiple HK$13.31 HK$17.74 HK$22.18 63
P/S Multiple HK$0.1200 HK$0.1700 HK$0.2100 58
P/B Multiple HK$1.19 HK$1.59 HK$1.98 55
Asset-Based
NCAV (Graham) HK$0.2600 HK$0.3500 HK$0.5300 50
Economic Profit
Residual Income HK$2.31 HK$3.92 HK$74.77 61
Growth Earnings
Growth-Adj P/E HK$28.00 HK$40.00 HK$52.01 68

Widest divergence: Growth Earnings (HK$40.00) versus Asset-Based (HK$0.3500). Highest evidence: Growth-Adj P/E (68).

Key figures & financial health

Revenue (TTM) HK$13.3M
Revenue growth (YoY) -38.4%
Net margin 1,342%
Return on equity -972%
Free cash flow −HK$19.6M FY2025
Operating margin -156%
More key figures
EPS (TTM) HK$-0.2500
EPS growth (YoY) +3,637%
Net debt HK$6.1M FY2025

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

Quality Score breakdown

Overall quality 36/100

Of which business quality 32 · Market factors (momentum, volatility) 60

Profitability 60
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 81
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 0
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

Link Holdings Limited, an investment holding company, operates as a hotel business company in the People's Republic of China, Singapore, Indonesia, and Japan. It operates in Operation of Hotel Business and Distressed Debt Asset Management segments. The company also involved in property investment, cottage, and real estate businesses.

Full company description

Link Holdings Limited, an investment holding company, operates as a hotel business company in the People's Republic of China, Singapore, Indonesia, and Japan. It operates in Operation of Hotel Business and Distressed Debt Asset Management segments. The company also involved in property investment, cottage, and real estate businesses. In addition, it provides distressed debt asset management services. The company was incorporated in 2012 and is headquartered in Wan chai, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Link Holdings reported revenue of HK$13.3M in FY2025 versus HK$49.7M in FY2021, a compound −28.1%/yr. Reported net income was HK$178M in FY2025.

Growth Quality 13/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$13.3M
Latest YoY
−68.1%
Avg. growth/yr (3Y)
−26.4%
Avg. growth/yr (5Y)
−25.4%
Avg. growth/yr (13Y)
+47.2%
Revenue −28.1%/yr
FY21 HK$49.7M
FY22 HK$33.3M
FY23 HK$58.3M
FY24 HK$41.7M
FY25 HK$13.3M
Net income
FY21 −HK$113M
FY22 −HK$54.3M
FY23 −HK$88.2M
FY24 −HK$146M
FY25 HK$178M

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Cite: Fair Value Calculator (2026). "Link Holdings Fair Value". https://www.fairvalue-calculator.com/stock/8237

Peer Group

Lodging · 171 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 36 · Bottom 25%
Fair Value upside +149% · Top 25%
Return on assets -4% · Bottom 25%
Operating margin (TTM) -156% · Bottom 25%
Revenue growth -38% · Bottom 25%

Valuation Multiples vs Lodging median · lower = cheaper

P/B 0.23× · Cheaper than 75% of peers
P/S (TTM) 1.87× · 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 2
FUTURE 0 · sector 18
PAST 0 · sector 11
HEALTH 100 · sector 90
DIVIDEND 0 · sector 24

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

Stock Price Fair Value vs Fair Value
Marriott International, Inc MAR $369.05 $135.64 -63%
Hilton Worldwide Holdings HLT $328.48 $123.67 -62%
InterContinental Hotels Group IHG $159.87 $85.18 -47%
Hyatt Hotels Corporation H $191.00 $47.69 -75%
H World Group HTHT $42.67 $47.55 +11%
Accor SA AC €47.25 €39.26 -17%
The Indian Hotels Company INDHOTEL ₹743.20 ₹260.68 -65%
Wyndham Hotels & Resorts, Inc WH $78.54 $24.02 -69%
Hanjin Kal, 180640 113,500 KRW 36,890 KRW -67%
Choice Hotels International, Inc CHH $111.29 $62.55 -44%

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Frequently asked questions

Is Link Holdings (8237) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of HK$2.15 versus a price of HK$1.02, about +111% (undervalued).
What is the fair value of 8237?
Our model-based fair value for Link Holdings is HK$2.15 (as of Aug 6, 2026), built from audited fundamentals. The current price is HK$1.02.
What is the quality score of 8237?
Link Holdings has a Quality Score of 36/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Link Holdings (8237)?
Link Holdings reported trailing-twelve-month revenue of about HK$13.3M (latest available figure, as of Aug 6, 2026).

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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