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Super Hi International Holding Ltd. (9658) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Super Hi International Holding Ltd. HK$13.73, price HK$8.86, upside +55.0%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Consumer Cyclical · HK · Based in Singapore · ISIN KYG8588S1049

SH Super Hi International Holding Ltd. logo Broad data Oct 2, 2026

Super Hi International Holding Ltd.

9658 · HK

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

Fair value HK$13.73 · Strongly undervalued (+55.0%)
Healthy Growth (revenue 5y +30.6 %/yr in USD)
Low debt
Generates free cash flow
Broad data
Quality 57/100
Thin margins · 1.2% net margin (TTM)
Mixed vs. peers (7/13)
Narrow moat 24/100

What runs behind every stock

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

Price vs Fair Value

HK$23.85 HK$8.37 Fair Value HK$13.73 Dec 2022 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.

How to read this chart

45‑month range HK$8.37 – HK$23.85 · fair‑value band HK$9.61 – HK$17.85 · the HK$8.86 price screens below the HK$13.73 fair value. Dashed = 300-day average. As of Oct 2, 2026.

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Company profile

Super Hi International Holding Ltd., an investment holding company, engages in the restaurant operation and delivery business in Asia, North America, Europe, Oceania, and internationally. It owns and operates Haidilao restaurants.

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Super Hi International Holding Ltd., an investment holding company, engages in the restaurant operation and delivery business in Asia, North America, Europe, Oceania, and internationally. It owns and operates Haidilao restaurants. The company also offers food delivery services; and sells hot pot condiment products and food under the Haidilao brand and secondary brands to local guests and retailers. The company was incorporated in 2022 and is headquartered in Singapore.

Stock analysis

Super Hi International Holding Ltd. (9658) currently trades at HK$8.86, while our model-based Fair Value estimate is HK$13.73, implying the stock looks roughly 35.5% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of HK$21.69 per share, and 18 of the 24 models we run sit above the HK$8.86 price.

Bear case: the Asset-Based group reads lowest at HK$3.49, and 6 of the 24 models stay below the price. Evidence for this calculation is high.

Scenario range: HK$9.61 (bear) to HK$17.85 (bull), the price of HK$8.86 sits below 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 57/100 (solid quality), in the Consumer Cyclical sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Super Hi International Holding Ltd. reported revenue of $842M in FY2025 versus $312M in FY2021, a compound +28.1%/yr. Reported net income was $36.5M in FY2025.

Key figures

Market cap HK$5.2B (≈ $664M) · P/E ratio 110.1 · P/S ratio 4.77 · EPS (TTM) HK$0.0047 · Net margin 4.3% · Return on equity 2.6% · Return on assets (EBIT) 9.9% · Operating margin 4.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 40% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −19% fair-value upside, at 55%, 9658 screens cheaper than that median.

Fair Value models

Bear HK$9.61 Fair Value HK$13.73 Bull HK$17.85
Price HK$8.86 · Upside +55.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (HK$0.0036 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF HK$15.51 HK$22.00 HK$39.26 78
Growth DCF HK$14.89 HK$23.19 HK$37.47 77
Residual Income HK$4.22 HK$4.53 HK$5.13 76
All 24 models by family
DCF Models
FCF DCF HK$15.51 HK$22.00 HK$39.26 78
Owner Earnings HK$16.18 HK$29.61 HK$54.53 73
5Y Revenue Exit HK$11.05 HK$15.96 HK$25.33 72
5Y EBITDA Exit HK$17.19 HK$29.21 HK$51.20 72
5Y P/E Exit HK$12.74 HK$21.05 HK$31.54 70
10Y Revenue Exit HK$12.30 HK$18.77 HK$25.59 67
10Y EBITDA Exit HK$16.43 HK$29.43 HK$53.06 65
10Y P/E Exit HK$13.56 HK$21.69 HK$35.15 62
Earnings-Based
Graham-Dodd HK$3.31 HK$23.07 HK$32.38 63
Lynch FV HK$6.92 HK$9.89 HK$12.85 61
PEG = 1.0 HK$6.92 HK$9.89 HK$12.85 57
EPV HK$6.70 HK$7.12 HK$7.46 74
Multiples
P/E Multiple HK$8.03 HK$10.70 HK$13.38 63
P/S Multiple HK$6.20 HK$8.27 HK$10.34 58
P/B Multiple HK$6.20 HK$8.27 HK$10.34 55
EV/EBIT HK$11.17 HK$13.67 HK$16.17 66
EV/EBITDA HK$18.59 HK$23.56 HK$28.53 67
EV/Revenue HK$8.72 HK$10.89 HK$13.06 54
Asset-Based
NCAV (Graham) HK$2.60 HK$3.49 HK$5.20 54
Growth DCF
Growth DCF HK$14.89 HK$23.19 HK$37.47 77
Rev-Margin DCF HK$11.05 HK$16.83 HK$25.43 72
Economic Profit
Residual Income HK$4.22 HK$4.53 HK$5.13 76
ROIC Compounder HK$7.30 HK$8.62 HK$10.33 72
Growth Earnings
Growth-Adj P/E HK$9.61 HK$13.73 HK$17.85 67

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Quality Score breakdown

Overall quality 57/100

Of which business quality 61 · Market factors (momentum, volatility) 31

Profitability 48
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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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. 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.2%
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.
+14.7%
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.
+30.6%
Start year 2020 (pandemic)
Revenue growth 6 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.
+23.8%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+14.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.6%
Dividend (yield on the price)0.0%
Profit margin 2019 to 2025 ⓘ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.−10% → 5%

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−9.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −11.9% a year for the price and +7.9% for the forecasts.
Forecast 2026 (sales)+11.2%
Forecast 2027 (sales)+12.2%
Projected 2028 (sales)+10.9%
Projected 2029 (sales)+9.6%
Projected 2030 (sales)+8.4%

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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.Restaurants · 211 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 57 · Above median
Fair Value upside +55.0% · Top 25%
Profitability
Return on equity (TTM) 2.6% · Below median
Return on assets 4.6% · Above median
Net margin (TTM) 1.2% · Below median
Operating margin (TTM) 4.3% · Below median
Growth and dividend
Revenue growth 10.0% · Above median

Valuation Multiplesvs Restaurants median · lower = cheaper

P/E (TTM) 110.1× · Priciest 25%
P/B 1.70× · Cheaper than median
P/S (TTM) 0.75× · Pricier than median
P/FCF 10.8× · Pricier than median
EV/EBITDA 4.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 37
FUTURE (revenue growth)50 · sector 20
PAST (return on equity)11 · sector 26
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 63

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 Restaurants stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCD $233.60 $162.81 −30%
Starbucks Corporation SBUX $93.96 $35.83 −62%
Chipotle Mexican Grill, Inc CMG $32.32 $35.55 +10%
Yum! Brands, Inc YUM $138.28 $76.78 −44%
Restaurant Brands International Inc QSR $71.48 $73.34 +3%
Darden Restaurants, Inc DRI $199.75 $175.20 −12%
Yum China Holdings YUMC $40.80 $50.76 +24%
Texas Roadhouse, Inc TXRH $158.45 $128.55 −19%
Domino's Pizza, Inc DPZ $301.81 $233.22 −23%
Dutch Bros Inc BROS $37.89 $10.27 −73%

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Cite: Fair Value Calculator (2026). "Super Hi International Holding Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/9658

Frequently asked questions

Is Super Hi International Holding Ltd. (9658) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of HK$13.73 versus a price of HK$8.86, about +55% upside (undervalued).
What is the fair value of 9658?
Our model-based fair value for Super Hi International Holding Ltd. is HK$13.73 (as of Oct 2, 2026), built from audited fundamentals. The current price: HK$8.86.
What is the quality score of 9658?
Super Hi International Holding Ltd. has a Quality Score of 57/100. 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 Super Hi International Holding Ltd. (9658)?
Our model-based price target is the fair value of HK$13.73 (as of Oct 2, 2026) from 24 valuation models. Cautious scenario HK$9.61, optimistic scenario HK$17.85. It is a calculation from audited fundamentals, not an analyst target.
What is the Super Hi International Holding Ltd. stock forecast for 2026?
Our models put fair value at HK$13.73, about +55% upside versus a price of HK$8.86 (undervalued). Cautious scenario HK$9.61, optimistic scenario HK$17.85. The calculation is refreshed regularly with new filings.
What is the revenue of Super Hi International Holding Ltd. (9658)?
Super Hi International Holding Ltd. reported trailing-twelve-month revenue of about $889M (latest available figure, as of Oct 2, 2026).
What growth is priced into Super Hi International Holding Ltd. (9658)?
For today's price to be fair in a discounted-cash-flow model, Super Hi International Holding Ltd. would have to grow free cash flow by -9.8 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +30.6 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of 9658 use?
Our models discount Super Hi International Holding Ltd. at 10.5 %: a base by market capitalisation (small), damped by beta 0.55, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Super Hi International Holding Ltd. that is -9.8 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Super Hi International Holding Ltd. (9658) delivered so far?
Over the past 5 years revenue at Super Hi International Holding Ltd. grew +30.6 % a year. The price currently implies -9.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Super Hi International Holding Ltd. (9658) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Super Hi International Holding Ltd. (-9.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Super Hi International Holding Ltd. (9658)?
The free-cash-flow yield on the price is 9.24 %: that much free cash flow Super Hi International Holding Ltd. produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Super Hi International Holding Ltd. (9658)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Super Hi International Holding Ltd. it is HK$13.73 per share (as of Oct 2, 2026), against a price of HK$8.86. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Super Hi International Holding Ltd. stock overvalued or undervalued in 2026?
As of Oct 2, 2026, 9658 trades below its calculated fair value: price HK$8.86, fair value HK$13.73, a gap of about +55% (undervalued). 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 9658?
No. The price is what the market pays today (HK$8.86); the fair value is what the company's own numbers justify (HK$13.73). For Super Hi International Holding Ltd. the two are HK$4.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Super Hi International Holding Ltd. worth?
The market values Super Hi International Holding Ltd. at about HK$5.2B (market capitalisation, as of Oct 2, 2026). Per share that is HK$8.86; our models calculate a fair value of HK$13.73 per share.
What do the bullish and bearish scenarios say about 9658?
Our models span a range for Super Hi International Holding Ltd.: cautious scenario HK$9.61, base HK$13.73, optimistic HK$17.85 per share (as of Oct 2, 2026, price HK$8.86). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9658?
Super Hi International Holding Ltd. trades at a price-to-earnings ratio of 110.1 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$13.73 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 18.8 (reported for FY2025: 13.8). Other multiples: P/B 1.7, P/S 0.7, EV/EBITDA 4.0.
How solid is the balance sheet of Super Hi International Holding Ltd. (9658)?
Balance-sheet figures for Super Hi International Holding Ltd. (as of Oct 2, 2026): return on equity 2.6%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 9658 from its 52-week high?
Super Hi International Holding Ltd. trades at HK$8.86, about 40% below its 52-week high of HK$14.66 and 1% above the low of HK$8.81 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$13.73 is for.
Which stocks are comparable to Super Hi International Holding Ltd.?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Chipotle Mexican Grill, Inc, Yum! Brands, Inc, 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 Super Hi International Holding Ltd. stock attractive at the current price?
The data as of Oct 2, 2026: price HK$8.86, calculated fair value HK$13.73 (+55%), Quality Score 57/100, from 24 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 9658 calculated?
We run Super Hi International Holding Ltd. through 24 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$13.73, 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 14.9 % above its aggregate fair value. Super Hi International Holding Ltd. currently trades 35 % below its own fair value, and the market average says nothing about that. 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 Super Hi International Holding Ltd. (9658)?
The closing price on Oct 2, 2026 was HK$8.86. Our model-based fair value is HK$13.73, about +55% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Super Hi International Holding Ltd. right now?
The price is below even our cautious bear case (HK$9.61). The market is more pessimistic than our downside scenario. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (HK$9.61 to HK$17.85) leaves room in how you read the outcome.

Key figures of Super Hi International Holding Ltd.

How large is the market capitalisation of Super Hi International Holding Ltd. (9658)?
The market capitalisation of Super Hi International Holding Ltd. is HK$5.2B (≈ $664M). 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 Super Hi International Holding Ltd. (9658)?
The price-to-sales ratio of Super Hi International Holding Ltd. is 4.77 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Super Hi International Holding Ltd. (9658)?
Earnings per share at Super Hi International Holding Ltd. are HK$0.0047 (price ÷ EPS = P/E 110.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Super Hi International Holding Ltd. (9658)?
The net margin of Super Hi International Holding Ltd. is 4.3% (fiscal year 2025). 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 Super Hi International Holding Ltd. (9658)?
The return on equity (ROE) of Super Hi International Holding Ltd. is 2.6% (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 Super Hi International Holding Ltd. (9658)?
On an EBIT basis the return on assets of Super Hi International Holding Ltd. is 9.9% (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 Super Hi International Holding Ltd. (9658)?
The operating margin of Super Hi International Holding Ltd. is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Super Hi International Holding Ltd. (9658)?
Revenue at Super Hi International Holding Ltd. is growing +10.0% versus a year earlier (3y avg +14.7%). 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 Super Hi International Holding Ltd. (9658)?
Earnings per share at Super Hi International Holding Ltd. are growing −50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Super Hi International Holding Ltd. (9658) hold?
Super Hi International Holding Ltd. holds more cash than debt, $46.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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