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Super Hi International Holding Ltd. (9658) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$5.5B

SH Super Hi International Holding Ltd. 9658 · HK
PriceHK$11.02
Fair ValueHK$10.08
Upside-8.5%
Quality51/100
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Healthy Growth
Thin margins · 3.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/13)
Narrow moat 32/100
Evidence: High Range HK$7.58 – HK$12.58 Share as image

Fair value as of: Aug 20, 2026

From 24 valuation models · updated today

Fair value updated Aug 20, 2026, revised from HK$1.35 to HK$10.08 (+646.7%) since Aug 13, 2026. Share price +3.7% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from HK$7.58 (bear) to HK$12.58 (bull), base HK$10.08. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 51/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (4 years)

HK$23.85 HK$8.37 Fair Value HK$10.08 Dec 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

44‑month range HK$8.37 – HK$23.85 · fair‑value band HK$7.58 – HK$12.58 · the HK$11.02 price screens above the HK$10.08 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Super Hi International Holding Ltd. (9658) currently trades at HK$11.02, while our model-based Fair Value estimate is HK$10.08, implying the stock looks roughly 8.5% fairly valued today. The Quality Score stands at 51/100 (solid 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: high).

Over the trailing twelve months, Super Hi International Holding Ltd. generated revenue of HK$869M at a net margin of 3.3%. Revenue grew 14.2% year over year. It earns a return on equity of 7.4%. The balance sheet holds a net cash position of HK$46.0M. Fundamentals as of Aug 20, 2026

Our scenario range runs from HK$7.58 (bear case) to HK$12.58 (bull case); at HK$11.02, 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 35% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at -9%, 9658 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (HK$0.4400 to HK$4.15). Read the values as a conservative anchor, not as a price target.
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$1.95 HK$3.27 HK$5.70 80
Residual Income HK$0.5600 HK$0.6200 HK$0.8300 76
Rev-Margin DCF HK$1.40 HK$2.17 HK$3.31 74
All 24 models by family
DCF Models
FCF DCF HK$2.03 HK$3.02 HK$5.81 38
Owner Earnings HK$2.13 HK$4.15 HK$8.24 31
5Y Revenue Exit HK$1.40 HK$2.06 HK$3.31 39
5Y EBITDA Exit HK$2.24 HK$3.86 HK$6.84 41
5Y P/E Exit HK$1.63 HK$2.74 HK$4.16 38
10Y Revenue Exit HK$1.56 HK$2.45 HK$3.41 36
10Y EBITDA Exit HK$2.16 HK$4.01 HK$7.40 37
10Y P/E Exit HK$1.75 HK$2.88 HK$4.78 35
Earnings-Based
Graham-Dodd HK$0.4200 HK$2.94 HK$4.13 54
Lynch FV HK$0.8800 HK$1.26 HK$1.64 50
PEG = 1.0 HK$0.8800 HK$1.26 HK$1.64 46
EPV HK$0.9100 HK$0.9800 HK$1.04 59
Multiples
P/E Multiple HK$1.02 HK$1.36 HK$1.71 63
P/S Multiple HK$0.7900 HK$1.05 HK$1.32 58
P/B Multiple HK$0.7900 HK$1.05 HK$1.32 55
EV/EBIT HK$1.42 HK$1.74 HK$2.06 53
EV/EBITDA HK$2.37 HK$3.00 HK$3.64 54
EV/Revenue HK$1.11 HK$1.39 HK$1.66 43
Asset-Based
NCAV (Graham) HK$0.3300 HK$0.4400 HK$0.6600 50
Growth DCF
Growth DCF HK$1.95 HK$3.27 HK$5.70 80
Rev-Margin DCF HK$1.40 HK$2.17 HK$3.31 74
Economic Profit
Residual Income HK$0.5600 HK$0.6200 HK$0.8300 76
ROIC Compounder HK$1.01 HK$1.24 HK$1.56 72
Growth Earnings
Growth-Adj P/E HK$1.23 HK$1.75 HK$2.28 68

Widest divergence: DCF Models (HK$2.88) versus Asset-Based (HK$0.4400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$869M
Revenue growth (YoY) +14.2%
Net margin 3.3%
Return on equity 7.4%
Free cash flow HK$61.4M FY2025
P/E ratio 24.2 as of Jul 3, 2026
More key figures
Operating margin 6.5%
EPS (TTM) HK$0.0600
EPS growth (YoY) -50.0%
Net cash HK$46.0M FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 55 · Market factors (momentum, volatility) 38

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 82
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 41
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$842M
Latest YoY
+8.2%
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.
+14.7%
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.
+30.6%
Avg. growth/yr (6Y) ⓘ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.
+23.8%
Revenue +28.1%/yr
FY21 HK$312M
FY22 HK$558M
FY23 HK$686M
FY24 HK$778M
FY25 HK$842M
Net income
FY21 −HK$151M
FY22 −HK$41.2M
FY23 HK$25.7M
FY24 HK$21.8M
FY25 HK$36.5M

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Super Hi International Holding Ltd. · Fair Value
HK$10.08 −9%Fair Value
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Cite: Fair Value Calculator (2026). "Super Hi International Holding Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/9658

Peer Group

Restaurants · 229 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 51 · Below median
Fair Value upside −9% · Below median
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth 14% · Top 25%

Valuation Multiples vs Restaurants median · lower = cheaper

P/E (TTM) 24.2× · Pricier than median
P/B 1.81× · Pricier than median
P/S (TTM) 0.81× · Pricier than median
P/FCF 11.5× · Pricier than 75% of peers
EV/EBITDA 4.6× · Cheaper than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE22 · sector 25
FUTURE71 · sector 19
PAST30 · sector 14
HEALTH100 · sector 97
DIVIDEND0 · sector 67

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 20, 2026).

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCDS C$24.01 C$15.02 -37%
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 $218.86 $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 Super Hi International Holding Ltd. (9658) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of HK$10.08 versus a price of HK$11.02, about −9% (fairly valued).
What is the fair value of 9658?
Our model-based fair value for Super Hi International Holding Ltd. is HK$10.08 (as of Aug 20, 2026), built from audited fundamentals. The current price: HK$11.02.
What is the quality score of 9658?
Super Hi International Holding 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 Super Hi International Holding Ltd. (9658)?
Super Hi International Holding Ltd. reported trailing-twelve-month revenue of about HK$869M (latest available figure, as of Aug 20, 2026).
What is the net profit margin of 9658?
The net profit margin of Super Hi International Holding Ltd. is about 3.3%, meaning it keeps roughly 3.3% 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.

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