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Top Standard Corporation (8510) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$50.2M

TS Top Standard Corporation 8510 · HK
PriceHK$0.1540
Fair ValueHK$0.0800
Upside-48.1%
Quality48/100
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Weak Growth
Loss-making · -5.1% net margin
Negative equity (buybacks among others) · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 26/100
Evidence: Low Range HK$0.0800 – HK$0.1600 Share as image

Fair value as of: Aug 15, 2026

From 6 valuation models · updated today

Fair value updated Aug 15, 2026, revised from HK$0.0100 to HK$0.0800 (+700.0%) since Aug 6, 2026. Share price −23.0% over the past month.

Below-average quality, and screening another 48% overvalued 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 but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (HK$0.0800 to HK$0.1600) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$1.33 HK$0.0710 Fair Value HK$0.0800 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 15, 2026.

How to read this chart

60‑month range HK$0.0710 – HK$1.33 · fair‑value band HK$0.0800 – HK$0.1600 · the HK$0.1540 price screens above the HK$0.0800 fair value. Dashed = 300-day average. As of Aug 15, 2026.

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Analysis

Top Standard Corporation (8510) currently trades at HK$0.1540, while our model-based Fair Value estimate is HK$0.0800, implying the stock looks roughly 48.1% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Top Standard Corporation generated revenue of HK$19.7M at a net margin of -5.1%. Revenue declined 0.2% year over year. Net debt stands at HK$3.5M. Fundamentals as of Aug 15, 2026

Our scenario range runs from HK$0.0800 (bear case) to HK$0.1600 (bull case); at HK$0.1540, 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 41% below its 52-week high and 105% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -51% fair-value upside, at -48%, 8510 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$0.0200 HK$0.0300 HK$0.0400 80
Rev-Margin DCF HK$0.0200 HK$0.0300 HK$0.0500 74
EV/Revenue HK$0.0200 HK$0.0300 HK$0.0400 43
All 6 models by family
DCF Models
FCF DCF HK$0.0200 HK$0.0300 HK$0.0500 38
5Y Revenue Exit HK$0.0200 HK$0.0300 HK$0.0500 39
10Y Revenue Exit HK$0.0200 HK$0.0300 HK$0.0500 36
Multiples
EV/Revenue HK$0.0200 HK$0.0300 HK$0.0400 43
Growth DCF
Growth DCF HK$0.0200 HK$0.0300 HK$0.0400 80
Rev-Margin DCF HK$0.0200 HK$0.0300 HK$0.0500 74

Widest divergence: DCF Models (HK$0.0300) versus DCF Models (HK$0.0300). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$19.7M
Revenue growth (YoY) -0.2%
Net margin -5.1%
Free cash flow HK$425K FY2026
Operating margin 7.2%
Net debt HK$3.5M FY2026

Figures from reported company fundamentals · as of Aug 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 53

Profitability 45
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 71
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

Top Standard Corporation, an investment holding company, operates restaurants and bars in Hong Kong and Malaysia. The company operates through two segments, Catering Service and Online Sale of Wines.

Full company description

Top Standard Corporation, an investment holding company, operates restaurants and bars in Hong Kong and Malaysia. The company operates through two segments, Catering Service and Online Sale of Wines. It is involved in the operation of restaurants under the Miss J, Sushi Mew, Sushi Qubey, and Aori Ramen brands; sells wines online under the MOW brand; and club operation business. Top Standard Corporation was founded in 2008 and is headquartered in Kowloon City, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Top Standard Corporation reported revenue of HK$19.7M in FY2026 versus HK$6.6M in FY2022, a compound +31.2%/yr. Reported net income was −HK$1.0M in FY2026.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
HK$19.7M
Latest YoY
+37.6%
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.
+16.5%
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.
−7.6%
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.
−12.3%
Revenue +31.2%/yr
FY22 HK$6.6M
FY23 HK$12.5M
FY24 HK$9.1M
FY25 HK$14.3M
FY26 HK$19.7M
Net income
FY22 −HK$3.1M
FY23 −HK$7.5M
FY24 HK$6.0M
FY25 −HK$9.8M
FY26 −HK$1.0M

8510 screens 48% overvalued. Compare with McDonald's Corporation →

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Cite: Fair Value Calculator (2026). "Top Standard Corporation Fair Value". https://www.fairvalue-calculator.com/stock/8510

Peer Group

Restaurants · 224 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 48 · Below median
Fair Value upside −48% · Bottom 25%
Return on assets 7% · Top 25%
Net margin (TTM) -5% · Bottom 25%
Operating margin (TTM) 7% · Above median
Revenue growth -0% · Below median

Valuation Multiples vs Restaurants median · lower = cheaper

P/S (TTM) 0.32× · Cheaper than median
P/FCF 15.0× · Pricier than 75% of peers
EV/EBITDA 3.9× · 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 0 · sector 22
FUTURE 0 · sector 19
PAST 0 · sector 14
HEALTH 100 · sector 97
DIVIDEND 0 · sector 58

VALUE 0: the price sits above our fair-value range.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Restaurants stocks, each showing price versus our Fair Value estimate (as of Aug 15, 2026).

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCDS C$24.01 C$10.84 -55%
Starbucks Corporation SBUX $108.49 $35.83 -67%
Chipotle Mexican Grill, Inc CMG $32.00 $17.92 -44%
Yum! Brands, Inc YUM $150.34 $58.17 -61%
Restaurant Brands International Inc QSR C$104.50 C$36.37 -65%
Darden Restaurants, Inc DRI $218.90 $173.68 -21%
Yum China Holdings YUMC $47.90 $54.27 +13%
Texas Roadhouse, Inc TXRH $214.28 $104.89 -51%
Dutch Bros Inc BROS $51.02 $12.80 -75%
Domino's Pizza, Inc DPZ $353.72 $227.31 -36%

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Frequently asked questions

Is Top Standard Corporation (8510) overvalued or undervalued?
As of Aug 15, 2026, our model estimates a fair value of HK$0.0800 versus a price of HK$0.1540, about −48% (overvalued).
What is the fair value of 8510?
Our model-based fair value for Top Standard Corporation is HK$0.0800 (as of Aug 15, 2026), built from audited fundamentals. The current price is HK$0.1540.
What is the quality score of 8510?
Top Standard Corporation has a Quality Score of 48/100. 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 Top Standard Corporation (8510)?
Top Standard Corporation reported trailing-twelve-month revenue of about HK$19.7M (latest available figure, as of Aug 15, 2026).
What is the net profit margin of 8510?
The net profit margin of Top Standard Corporation is about -5.1%, 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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