9639 (9639) Fair Value & Analysis

Industrials · Market cap HK$940M

9 9639 9639 · HK

PriceHK$0.9400

Fair ValueHK$1.16

Upside+23.4%

Quality38/100

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Evidence: High Range HK$0.8700 – HK$1.46

Fair value as of: Jul 3, 2026

From 16 valuation models · updated today

Share price −13.8% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$0.8800 – HK$1.42 · fair‑value band HK$0.8700 – HK$1.46 · the HK$0.9400 price screens below the HK$1.16 fair value. As of Jul 3, 2026.

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Analysis

9639 (9639) currently trades at HK$0.9400, while our model-based Fair Value estimate is HK$1.16 — implying the stock looks roughly 23.4% undervalued today. We read business quality at 38/100 (below-average 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: high) — always confirm before acting.

Over the trailing twelve months, 9639 generated revenue of HK$568M at a net margin of 6.5%. Revenue declined 37.0% year over year. It earns a return on equity of 13.9%. The balance sheet holds a net cash position of HK$21.5M. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) HK$568M

Revenue growth (YoY) -37.0%

Net margin 6.5%

Return on equity 13.9%

Free cash flow −HK$60.1M FY2025

P/E ratio 47.0

More key figures

Operating margin 10.1%

EPS (TTM) HK$0.0400

EPS growth (YoY) -61.6%

Net cash HK$21.5M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

9639 reported revenue of HK$717M in FY2025 versus HK$520M in FY2022, a compound +11.3%/yr. Reported net income was HK$55.5M in FY2025, compounding −2.1%/yr from FY2022.

Revenue +11.3%/yr

FY22 HK$520M

FY23 HK$361M

FY24 HK$526M

FY25 HK$717M

Net income −2.1%/yr

FY22 HK$59.1M

FY23 HK$40.6M

FY24 HK$76.9M

FY25 HK$55.5M

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Similar stocks

6 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).

Stock	Price	Fair Value	vs Fair Value
Larsen & Toubro Limited LTOD	$0.4415	$0.5700	+29%
Samsung C&T Corporation 028260	520,000 KRW	268,469 KRW	-48%
China State Construction Engineering Corporation 601668	¥4.65	¥17.35	+273%
TopBuild Corp BLD	7,547 MXN	324.01 MXN	-96%
Hyundai Engineering & Construction Co 000720	130,300 KRW	55,602 KRW	-57%
United Integrated Services Co 2404	1,205 TWD	1,891 TWD	+57%

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Frequently asked questions

Is 9639 (9639) undervalued?

As of Jul 3, 2026, our model estimates a fair value of HK$1.16 versus a price of HK$0.9400 — about +23% (undervalued). Model-based estimate, not financial advice.

What is the fair value of 9639?

Our model-based fair value for 9639 is HK$1.16 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$0.9400.

What is the quality score of 9639?

9639 has a Quality Score of 38/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 9639 (9639)?

9639 reported trailing-twelve-month revenue of about HK$568M (latest available figure, as of Jul 3, 2026).

What is the net profit margin of 9639?

The net profit margin of 9639 is about 6.5%, meaning it keeps roughly 6.5% of revenue as net income. 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.