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Noble Engineering Group Holdings Ltd (8445) Fair Value & Analysis

Industrials · HK · Market cap HK$33.2M

NE Noble Engineering Group Holdings Ltd 8445 · HK
PriceHK$0.1660
Fair ValueHK$0.2400
Upside+44.6%
Quality51/100
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Weak Growth
Loss-making · -4.8% net margin
negative free cash flow
Mixed vs. peers (4/9)
Narrow moat 9/100
Evidence: Low Range HK$0.1600 – HK$0.3000 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 3 days ago

Share price +44.3% over the past month.

A solid business, screening 45% undervalued on our models.

What matters now

  • 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 quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$0.1600 to HK$0.3000) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$1.59 HK$0.1100 Fair Value HK$0.2400 Oct 2020 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$0.1100 – HK$1.59 · fair‑value band HK$0.1600 – HK$0.3000 · the HK$0.1660 price screens below the HK$0.2400 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Noble Engineering Group Holdings Ltd (8445) currently trades at HK$0.1660, while our model-based Fair Value estimate is HK$0.2400, implying the stock looks roughly 44.6% undervalued today. The Quality Score stands at 51/100 (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: low), always confirm before acting.

Over the trailing twelve months, Noble Engineering Group Holdings Ltd generated revenue of HK$208M at a net margin of -4.8%. Revenue declined 6.3% year over year. It earns a return on equity of -13.6%. The balance sheet holds a net cash position of HK$16.6M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.1600 (bear case) to HK$0.3000 (bull case); at HK$0.1660, 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 34% below its 52-week high and 66% 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 45%, 8445 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
NCAV (Graham) HK$0.1200 HK$0.1600 HK$0.2500 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$0.1200 HK$0.1600 HK$0.2500 50

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Key figures & financial health

Revenue (TTM) HK$208M
Revenue growth (YoY) -6.3%
Net margin -4.8%
Return on equity -13.6%
Free cash flow −HK$16.3M FY2025
Operating margin -5.5%
More key figures
EPS (TTM) HK$-0.0300
Net cash HK$16.6M FY2026

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 54 · Market factors (momentum, volatility) 45

Profitability 20
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 56
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

Noble Engineering Group Holdings Limited, an investment holding company, provides wet trade work services in Hong Kong. The company undertakes tile and brick laying, plastering, floor screeding, and marble works.

Full company description

Noble Engineering Group Holdings Limited, an investment holding company, provides wet trade work services in Hong Kong. The company undertakes tile and brick laying, plastering, floor screeding, and marble works. It offers its wet trade services for various building construction projects, including residential, community facility, public housing, and commercial development projects in the private and public sectors. The company was formerly known as Noble Engineering Holdings Limited and changed its name to Noble Engineering Group Holdings Limited in August 2017. The company was founded in 1981 and is headquartered in Cheung Sha Wan, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Noble Engineering Group Holdings Ltd reported revenue of HK$208M in FY2026 versus HK$276M in FY2022, a compound −6.8%/yr. Reported net income was −HK$9.9M in FY2026.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$208M
Latest YoY
−36.3%
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.
−4.4%
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.
−8.7%
Avg. growth/yr (10Y) 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.
−2.5%
Revenue −6.8%/yr
FY22 HK$276M
FY23 HK$237M
FY24 HK$321M
FY25 HK$326M
FY26 HK$208M
Net income
FY22 −HK$36.4M
FY23 −HK$11.6M
FY24 −HK$11.8M
FY25 −HK$9.5M
FY26 −HK$9.9M

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Cite: Fair Value Calculator (2026). "Noble Engineering Group Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8445

Peer Group

Engineering & Construction · 837 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 54 · Above median
Fair Value upside +45% · Top 25%
Return on assets -7% · Bottom 25%
Net margin (TTM) -5% · Bottom 25%
Operating margin (TTM) -6% · Bottom 25%
Revenue growth -6% · Below median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.02× · Cheaper than 75% of peers

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 93 · sector 14
FUTURE 0 · sector 15
PAST 0 · sector 26
HEALTH 0 · sector 94
DIVIDEND 0 · sector 43

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
DL E&C Co 375500 73,500 KRW 148,433 KRW +102%
KEPCO Plant Service & Engineering Co 051600 46,350 KRW 43,924 KRW -5%

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Frequently asked questions

Is Noble Engineering Group Holdings Ltd (8445) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.2400 versus a price of HK$0.1660, about +45% (undervalued).
What is the fair value of 8445?
Our model-based fair value for Noble Engineering Group Holdings Ltd is HK$0.2400 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.1660.
What is the quality score of 8445?
Noble Engineering Group Holdings Ltd has a Quality Score of 51/100. 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 Noble Engineering Group Holdings Ltd (8445)?
Noble Engineering Group Holdings Ltd reported trailing-twelve-month revenue of about HK$208M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 8445?
The net profit margin of Noble Engineering Group Holdings Ltd is about -4.8%, 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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