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Polyfair Holdings Ltd (8532) fair value: what the stock is really worth

We calculate from audited financials what Polyfair Holdings Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Aug 24, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Industrials · HK · ISIN KYG715921022

PH Thin data Aug 24, 2026

Polyfair Holdings Ltd

8532 · HK

Weak valuationQuality is weak on top of the rich price.

!Fair value HK$0.0531 · Overvalued (−14%)
!Quality 38/100
!Weak Growth (revenue 5y −19.9 %/yr)
!Loss-making · -50.2% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (0/6)
!Narrow moat 9/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 14 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$1.02 HK$0.0600 Fair Value HK$0.0531 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

60‑month range HK$0.0600 – HK$1.02 · fair‑value band HK$0.0504 – HK$0.0558 · the HK$0.0620 price screens above the HK$0.0531 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 24, 2026.

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Company profile

Polyfair Holdings Limited, an investment holding company, engages in the construction business in Hong Kong. The company offers designs and project management services to façade systems and curtain wall work solutions for residential and commercial buildings.

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Polyfair Holdings Limited, an investment holding company, engages in the construction business in Hong Kong. The company offers designs and project management services to façade systems and curtain wall work solutions for residential and commercial buildings. It also provides various design and build services for various projects, such as developing designs, conducting structural calculations, preparing shop drawings, sourcing and procuring building materials for building material logistics and installation works, project management, and post-project completion services. It serves material suppliers and subcontractors. Polyfair Holdings Limited was founded in 2006 and is headquartered in Cheung Sha Wan, Hong Kong. Polyfair Holdings Limited operates as a subsidiary of C.N.Y. Holdings Limited.

Stock analysis

Polyfair Holdings Ltd (8532) currently trades at HK$0.0620, while our model-based Fair Value estimate is HK$0.0531, implying the stock looks roughly 16.8% overvalued today.

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Valuation

How firm this estimate is: it rests on 6 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: HK$0.0504 (bear) to HK$0.0558 (bull), the price of HK$0.0620 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 38/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Polyfair Holdings Ltd reported revenue of HK$98.8M in FY2026 versus HK$362M in FY2022, a compound −27.7%/yr. Reported net income was −HK$49.6M in FY2026.

Key figures

Market cap HK$6.2M (≈ $790K) · P/S ratio 0.06 · EPS (TTM) HK$−0.1600 · Net margin −50.2% · Return on equity −3,127% · Return on assets (EBIT) −16.8% · Operating margin −81.7% · Revenue (TTM) HK$98.8M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 82% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −14%, 8532 screens cheaper than that median.

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Quality Score breakdown

Overall quality 38/100

Of which business quality 35 · Market factors (momentum, volatility) 23

Profitability 14
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 0
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 56
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−58.4%
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.
−33.2%
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.
−19.9%
Start year 2021 (pandemic). Over 10 years: −5.4% 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.
−5.4%
Profit margin (trend) ⓘ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.
2.3% (2021) → −45.6% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

8532 screens 17% overvalued. Compare with Quanta Services, Inc →

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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 · 840 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside −14% · Below median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −16% · Bottom 25%
Net margin (TTM) −50% · Bottom 25%
Operating margin (TTM) −82% · Bottom 25%
Growth and dividend
Revenue growth −9% · Below median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Engineering & Construction median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)14 · sector 29
FUTURE (revenue growth)0 · sector 11
PAST (return on equity)0 · sector 29
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)0 · sector 40

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

Context: sector, industry, market

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

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate.

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Quanta Services, Inc PWR $634.90 $163.08 −74%
Vinci SA DG €110.50 €185.62 +68%
Comfort Systems USA, Inc FIX $1,626 $1,122 −31%
Larsen & Toubro Limited LT ₹3,930 ₹1,994 −49%
Ferrovial N.V FER $56.30 $24.01 −57%
Samsung C&T Corporation 028260 367,000 KRW 256,792 KRW −30%
HOCHTIEF Aktiengesellschaft HOT €397.00 €203.87 −49%
ACS, Actividades de Construcción y Servicios, S.A ACS €92.75 €75.04 −19%
EMCOR Group EME $751.80 $521.87 −31%
MasTec, Inc MTZ $217.52 $106.05 −51%

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HK$0.0531 −17%Fair Value
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Cite: Fair Value Calculator (2026). "Polyfair Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/8532

Frequently asked questions

Is Polyfair Holdings Ltd (8532) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of HK$0.0531 versus a price of HK$0.0620, about −14% upside (overvalued).
What is the fair value of 8532?
Our model-based fair value for Polyfair Holdings Ltd is HK$0.0531 (as of Aug 24, 2026), built from audited fundamentals. The current price: HK$0.0620.
What is the quality score of 8532?
Polyfair Holdings Ltd has a Quality Score of 38/100. 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 Polyfair Holdings Ltd (8532)?
Our model-based price target is the fair value of HK$0.0531 (as of Aug 24, 2026) from 6 valuation models. Cautious scenario HK$0.0504, optimistic scenario HK$0.0558. It is a calculation from audited fundamentals, not an analyst target.
What is the Polyfair Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$0.0531, about −14% upside versus a price of HK$0.0620 (overvalued). Cautious scenario HK$0.0504, optimistic scenario HK$0.0558. The calculation is refreshed regularly with new filings.
What is the revenue of Polyfair Holdings Ltd (8532)?
Polyfair Holdings Ltd reported trailing-twelve-month revenue of about HK$98.8M (latest available figure, as of Aug 24, 2026).
What is the intrinsic value of Polyfair Holdings Ltd (8532)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polyfair Holdings Ltd it is HK$0.0531 per share (as of Aug 24, 2026), against a price of HK$0.0620. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Polyfair Holdings Ltd stock overvalued or undervalued in 2026?
As of Aug 24, 2026, 8532 trades above its calculated fair value: price HK$0.0620, fair value HK$0.0531, a gap of about −14% (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 8532?
No. The price is what the market pays today (HK$0.0620); the fair value is what the company's own numbers justify (HK$0.0531). For Polyfair Holdings Ltd the two are HK$0.0089 per share apart. That gap is exactly why we show both numbers side by side.
How much is Polyfair Holdings Ltd worth?
The market values Polyfair Holdings Ltd at about HK$6.2M (market capitalisation, as of Aug 24, 2026). Per share that is HK$0.0620; our models calculate a fair value of HK$0.0531 per share.
What do the bullish and bearish scenarios say about 8532?
Our models span a range for Polyfair Holdings Ltd: cautious scenario HK$0.0504, base HK$0.0531, optimistic HK$0.0558 per share (as of Aug 24, 2026, price HK$0.0620). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Polyfair Holdings Ltd (8532)?
Balance-sheet figures for Polyfair Holdings Ltd (as of Aug 24, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 8532 from its 52-week high?
Polyfair Holdings Ltd trades at HK$0.0620, about 82% below its 52-week high of HK$0.3500 and 3% above the low of HK$0.0600 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.0531 is for.
Which stocks are comparable to Polyfair Holdings 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 Polyfair Holdings Ltd stock attractive at the current price?
The data as of Aug 24, 2026: price HK$0.0620, calculated fair value HK$0.0531 (−14%), Quality Score 38/100, from 6 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 8532 calculated?
We run Polyfair Holdings Ltd through 6 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$0.0531, 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 14.0 % above its aggregate fair value. Polyfair Holdings 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 Polyfair Holdings Ltd (8532)?
The closing price on Sep 24, 2026 was HK$0.0620. Our model-based fair value is HK$0.0531, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polyfair Holdings Ltd right now?
The price sits above even our optimistic bull case (HK$0.0558). The favourable scenario is already priced in. The models converge in a tight band (HK$0.0504 to HK$0.0558), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Polyfair Holdings Ltd

How large is the market capitalisation of Polyfair Holdings Ltd (8532)?
The market capitalisation of Polyfair Holdings Ltd is HK$6.2M (≈ $790K). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Polyfair Holdings Ltd (8532)?
The price-to-sales ratio of Polyfair Holdings Ltd is 0.06 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Polyfair Holdings Ltd (8532)?
Earnings per share at Polyfair Holdings Ltd are HK$−0.1600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Polyfair Holdings Ltd (8532)?
The net margin of Polyfair Holdings Ltd is −50.2% (fiscal year 2026). 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 Polyfair Holdings Ltd (8532)?
The return on equity (ROE) of Polyfair Holdings Ltd is −3,127% (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 Polyfair Holdings Ltd (8532)?
On an EBIT basis the return on assets of Polyfair Holdings Ltd is −16.8% (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 Polyfair Holdings Ltd (8532)?
The operating margin of Polyfair Holdings Ltd is −81.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polyfair Holdings Ltd (8532)?
Revenue at Polyfair Holdings Ltd is growing −8.6% versus a year earlier (3y avg −33.2%). 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 Polyfair Holdings Ltd (8532)?
Earnings per share at Polyfair Holdings Ltd are growing −82.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Polyfair Holdings Ltd (8532) generate?
The free cash flow of Polyfair Holdings Ltd is −HK$3.7M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Polyfair Holdings Ltd (8532) carry?
The net debt of Polyfair Holdings Ltd is HK$92.8M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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