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WINSON HLDGS HK (8421) Fair Value & Analysis

Industrials · HK · Market cap HK$348M

WH WINSON HLDGS HK 8421 · HK
PriceHK$0.2350
Fair ValueHK$0.6500
Upside+176.6%
Quality60/100
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Mixed Growth
Thin margins · 3.6% net margin
3.09% dividend yield
Mixed vs. peers (7/12)
Moderate moat 46/100
Evidence: Medium Range HK$0.4300 – HK$0.9100 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 3 days ago

Share price −9.6% over the past month.

A solid business, screening 177% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$0.4300). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$0.4300 to HK$0.9100) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$0.4892 HK$0.0920 Fair Value HK$0.6500 Nov 2019 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$0.0920 – HK$0.4892 · fair‑value band HK$0.4300 – HK$0.9100 · the HK$0.2350 price screens below the HK$0.6500 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

WINSON HLDGS HK (8421) currently trades at HK$0.2350, while our model-based Fair Value estimate is HK$0.6500, implying the stock looks roughly 176.6% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Industrials 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, WINSON HLDGS HK generated revenue of HK$570M at a net margin of 3.6%. Revenue grew 3.7% year over year. It earns a return on equity of 16.0%. The stock trades on a trailing P/E of 12.0 (as of Jul 3, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.4300 (bear case) to HK$0.9100 (bull case); at HK$0.2350, 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 32% below its 52-week high and 84% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -33% fair-value upside, at 177%, 8421 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$0.3700 HK$0.4900 HK$0.6400 72
Growth-Adj P/E HK$0.4500 HK$0.6500 HK$0.8400 68
Rev-Margin DCF HK$0.4200 HK$0.6300 HK$0.8800 67
All 24 models by family
DCF Models
FCF DCF HK$0.3700 HK$0.5100 HK$0.6900 38
Owner Earnings HK$0.4500 HK$0.6300 HK$0.8600 31
5Y Revenue Exit HK$0.4200 HK$0.6300 HK$0.9100 39
5Y EBITDA Exit HK$0.4600 HK$0.7100 HK$1.00 41
5Y P/E Exit HK$0.4800 HK$0.7500 HK$1.03 38
10Y Revenue Exit HK$0.3800 HK$0.5600 HK$0.8100 36
10Y EBITDA Exit HK$0.4200 HK$0.6100 HK$0.8700 37
10Y P/E Exit HK$0.4300 HK$0.6400 HK$0.8900 35
Earnings-Based
Graham-Dodd HK$0.2300 HK$0.7500 HK$0.9900 54
Lynch FV HK$0.1600 HK$0.2300 HK$0.3100 50
PEG = 1.0 HK$0.1600 HK$0.2300 HK$0.3100 46
EPV HK$0.3500 HK$0.3900 HK$0.4200 59
Multiples
P/E Multiple HK$0.5400 HK$0.7200 HK$0.9100 63
P/S Multiple HK$0.4400 HK$0.5900 HK$0.7300 58
P/B Multiple HK$0.4400 HK$0.5900 HK$0.7300 55
EV/EBIT HK$0.6300 HK$0.8200 HK$1.00 53
EV/EBITDA HK$0.5800 HK$0.7500 HK$0.9100 54
EV/Revenue HK$0.4700 HK$0.6400 HK$0.8100 43
Asset-Based
NCAV (Graham) HK$0.1100 HK$0.1500 HK$0.2200 50
Growth DCF
Growth DCF HK$0.3700 HK$0.4900 HK$0.6400 72
Rev-Margin DCF HK$0.4200 HK$0.6300 HK$0.8800 67
Economic Profit
Residual Income HK$0.2100 HK$0.2600 HK$0.5700 61
ROIC Compounder HK$0.3600 HK$0.4300 HK$0.5000 67
Growth Earnings
Growth-Adj P/E HK$0.4500 HK$0.6500 HK$0.8400 68

Widest divergence: Growth Earnings (HK$0.6500) versus Asset-Based (HK$0.1500). Highest evidence: Growth DCF (72).

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Key figures & financial health

Revenue (TTM) HK$570M
Revenue growth (YoY) +3.7%
Net margin 3.6%
Return on equity 16.0%
P/E ratio 12.0 as of Jul 3, 2026
Operating margin 4.6%
More key figures
EPS (TTM) HK$0.0387
Dividend yield 3.1%
EPS growth (YoY) -37.2%

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 61 · Market factors (momentum, volatility) 54

Profitability 64
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 75
Distance to the 52-week high (market factor)

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

Winson Holdings Hong Kong Limited, an investment holding company, provides environmental hygiene and related, and airline catering support services in Hong Kong.

Full company description

Winson Holdings Hong Kong Limited, an investment holding company, provides environmental hygiene and related, and airline catering support services in Hong Kong. It offers environmental hygiene services, including public area and office cleaning, and waste disposal, as well as specialized services, such as external curtain wall and window cleaning, marble floor maintenance and restoration, intensive cleaning, and pest control services etc. to residential, commercial and shopping complexes, public utilities, transportation systems, and government bodies. The company also provides pest control services comprising indoor pest management and rodent prevention, and control services that involve spraying of pesticides and fogging treatment, etc. to a range of customers, including government departments, educational institutes, public utilities, transportation systems, and residential, commercial and shopping complexes. In addition, it offers airline catering support services consisting of plating of meals, tray-setting, dry store packing and internal logistic for equipment flow, etc. at flight kitchens of airline catering operators. Further, the company provides property holding services. The company was founded in 1983 and is headquartered in Tsuen Wan, Hong Kong. Winson Holdings Hong Kong Limited is a subsidiary of Sze's Holdings Limited.

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

Revenue & earnings trend

FY2016 – FY2020 · reported fiscal years

WINSON HLDGS HK reported revenue of HK$570M in FY2020 versus HK$450M in FY2016, a compound +6.1%/yr. Reported net income was HK$20.7M in FY2020, compounding +2.4%/yr from FY2016.

Growth Quality 71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2020)
HK$570M
Latest YoY
+6.0%
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.
+9.1%
Revenue +6.1%/yr
FY16 HK$450M
FY17 HK$468M
FY18 HK$508M
FY19 HK$537M
FY20 HK$570M
Net income +2.4%/yr
FY16 HK$18.8M
FY17 HK$8.7M
FY18 HK$21.8M
FY19 HK$20.8M
FY20 HK$20.7M

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Cite: Fair Value Calculator (2026). "WINSON HLDGS HK Fair Value". https://www.fairvalue-calculator.com/stock/8421

Peer Group

Waste Management · 168 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 60 · Top 25%
Fair Value upside +177% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 4% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 4% · Below median
Dividend yield (TTM) 3.1% · Above median

Valuation Multiples vs Waste Management median · lower = cheaper

P/E (TTM) 12.0× · Cheaper than median
P/B 2.58× · Pricier than 75% of peers
P/S (TTM) 0.61× · Cheaper than median
EV/EBITDA 10.0× · 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 7
FUTURE 19 · sector 21
PAST 64 · sector 25
HEALTH 0 · sector 82
DIVIDEND 62 · sector 47

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 Waste Management stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Waste Management, Inc WM $226.32 $128.02 -43%
Republic Services, Inc RSG $215.08 $120.63 -44%
Waste Connections, Inc WCN C$230.52 C$78.67 -66%
Veolia Environnement SA VIE €34.47 €23.26 -33%
Clean Harbors, Inc CLH $316.65 $154.01 -51%
GFL Environmental Inc GFL C$57.56 C$44.27 -23%
GEM Co 002340 ¥6.75 ¥5.27 -22%
Zhejiang Weiming Environment Protection Co 603568 ¥15.68 ¥20.95 +34%
China Everbright Environment Group 0257 HK$5.00 HK$8.96 +79%
Beijing GeoEnviron Engineering & Technology, Inc 603588 ¥14.10 ¥9.35 -34%

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Frequently asked questions

Is WINSON HLDGS HK (8421) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.6500 versus a price of HK$0.2350, about +177% (undervalued).
What is the fair value of 8421?
Our model-based fair value for WINSON HLDGS HK is HK$0.6500 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.2350.
What is the quality score of 8421?
WINSON HLDGS HK has a Quality Score of 60/100. 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 WINSON HLDGS HK (8421)?
WINSON HLDGS HK reported trailing-twelve-month revenue of about HK$570M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 8421?
The net profit margin of WINSON HLDGS HK is about 3.6%, meaning it keeps roughly 3.6% of revenue as net income. Based on the latest reported figures.
Does WINSON HLDGS HK pay a dividend?
WINSON HLDGS HK currently shows a dividend yield of about 3.09% relative to its recent price (as of Aug 13, 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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