9690 (9690) Fair Value & Analysis

Consumer Cyclical · Market cap HK$10.6B

9 9690 9690 · HK

PriceHK$12.82

Fair ValueHK$10.89

Upside-15.1%

Quality51/100

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Evidence: High Range HK$8.80 – HK$13.62

Fair value as of: Jul 3, 2026

From 24 valuation models · updated today

Share price −4.4% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$11.44 – HK$20.90 · fair‑value band HK$8.80 – HK$13.62 · the HK$12.82 price screens above the HK$10.89 fair value. As of Jul 3, 2026.

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Analysis

9690 (9690) currently trades at HK$12.82, while our model-based Fair Value estimate is HK$10.89 — implying the stock looks roughly 15.1% overvalued today. We read business quality 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, 9690 generated revenue of HK$16.5B at a net margin of 2.6%. Revenue grew 12.5% year over year. It earns a return on equity of 8.5%. The balance sheet holds a net cash position of HK$2.7B. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) HK$16.5B

Revenue growth (YoY) +12.5%

Net margin 2.6%

Return on equity 8.5%

Free cash flow HK$950M FY2025

P/E ratio 22.1

More key figures

Operating margin 0.2%

EPS (TTM) HK$0.3800

EPS growth (YoY) -60.7%

Net cash HK$2.7B FY2025

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

9690 reported revenue of HK$16.5B in FY2025 versus HK$11.7B in FY2021, a compound +8.9%/yr. Reported net income was HK$420M in FY2025.

Revenue +8.9%/yr

FY21 HK$11.7B

FY22 HK$11.5B

FY23 HK$13.6B

FY24 HK$14.8B

FY25 HK$16.5B

Net income

FY21 −HK$5.8B

FY22 −HK$2.1B

FY23 HK$6.7B

FY24 HK$484M

FY25 HK$420M

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Frequently asked questions

Is 9690 (9690) undervalued?

As of Jul 3, 2026, our model estimates a fair value of HK$10.89 versus a price of HK$12.82 — about −15% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 9690?

Our model-based fair value for 9690 is HK$10.89 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$12.82.

What is the quality score of 9690?

9690 has a Quality Score of 51/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 9690 (9690)?

9690 reported trailing-twelve-month revenue of about HK$16.5B (latest available figure, as of Jul 3, 2026).

What is the net profit margin of 9690?

The net profit margin of 9690 is about 2.6%, meaning it keeps roughly 2.6% 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.