9857 (9857) Fair Value & Analysis

Communication Services · Market cap HK$719M

9 9857 9857 · HK

PriceHK$1.99

Fair ValueHK$1.93

Upside-3.0%

Quality45/100

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Evidence: High Range HK$1.39 – HK$2.47

Fair value as of: Jul 3, 2026

From 15 valuation models · updated today

Share price −16.4% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.88 – HK$5.29 · fair‑value band HK$1.39 – HK$2.47 · the HK$1.99 price screens above the HK$1.93 fair value. As of Jul 3, 2026.

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Analysis

9857 (9857) currently trades at HK$1.99, while our model-based Fair Value estimate is HK$1.93 — implying the stock looks roughly 3.0% overvalued today. We read business quality at 45/100 (below-average quality), in the Communication Services 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, 9857 generated revenue of HK$863M at a net margin of 3.6%. Revenue declined 0.7% year over year. It earns a return on equity of 1.3%. Net debt stands at HK$81.6M. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) HK$863M

Revenue growth (YoY) -0.7%

Net margin 3.6%

Return on equity 1.3%

Free cash flow −HK$304M FY2025

P/E ratio 19.9

More key figures

Operating margin 0.7%

EPS (TTM) HK$0.0300

Net debt HK$81.6M FY2019

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

9857 reported revenue of HK$863M in FY2025 versus HK$1.2B in FY2021, a compound −8.8%/yr. Reported net income was HK$31.2M in FY2025, compounding −15.4%/yr from FY2021.

Revenue −8.8%/yr

FY21 HK$1.2B

FY22 HK$951M

FY23 HK$1.2B

FY24 HK$657M

FY25 HK$863M

Net income −15.4%/yr

FY21 HK$60.9M

FY22 −HK$732M

FY23 HK$214M

FY24 −HK$189M

FY25 HK$31.2M

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Similar stocks

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

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Netflix, Inc NFC	€74.03	€35.48	-52%
NFLX NFLX	1,422 MXN	879.86 MXN	-38%
The Walt Disney Company DIS	C$11.30	C$10.79	-5%
Warner Bros. Discovery, Inc WBD	$26.23	$4.82	-82%
Universal Music Group UMG	€19.55	€10.36	-47%
TKO Group TKO	$197.26	$48.15	-76%

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Frequently asked questions

Is 9857 (9857) undervalued?

As of Jul 3, 2026, our model estimates a fair value of HK$1.93 versus a price of HK$1.99 — about −3% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 9857?

Our model-based fair value for 9857 is HK$1.93 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$1.99.

What is the quality score of 9857?

9857 has a Quality Score of 45/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 9857 (9857)?

9857 reported trailing-twelve-month revenue of about HK$863M (latest available figure, as of Jul 3, 2026).

What is the net profit margin of 9857?

The net profit margin of 9857 is about 3.6%, meaning it keeps roughly 3.6% 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.