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Linmon Media Ltd (9857) Fair Value & Analysis

Communication Services · HK · Market cap HK$719M

LM Linmon Media Ltd 9857 · HK
PriceHK$2.70
Fair ValueHK$1.94
Upside-28.2%
Quality55/100
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Weak Growth
Thin margins · 3.6% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/12)
Narrow moat 18/100
Evidence: High Range HK$1.40 – HK$2.49 Share as image

Fair value as of: Aug 13, 2026

From 15 valuation models · updated 3 days ago

Share price +8.9% over the past month.

A solid business, but screening 28% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$2.49). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (4 years)

HK$30.75 HK$1.87 Fair Value HK$1.94 Aug 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

48‑month range HK$1.87 – HK$30.75 · fair‑value band HK$1.40 – HK$2.49 · the HK$2.70 price screens above the HK$1.94 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Linmon Media Ltd (9857) currently trades at HK$2.70, while our model-based Fair Value estimate is HK$1.94, implying the stock looks roughly 28.2% overvalued today. The Quality Score stands at 55/100 (solid 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, Linmon Media Ltd 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 Aug 13, 2026

Our scenario range runs from HK$1.40 (bear case) to HK$2.49 (bull case); at HK$2.70, the current price sits above 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 57% below its 52-week high and 44% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -43% fair-value upside, at -28%, 9857 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.

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
Residual Income HK$4.26 HK$3.98 HK$2.75 76
ROIC Compounder HK$2.90 HK$3.00 HK$3.09 72
Gordon GGM HK$1.69 HK$1.82 HK$2.02 70
All 15 models by family
DCF Models
Owner Earnings HK$3.42 HK$3.80 HK$4.44 31
Earnings-Based
Graham-Dodd HK$0.5900 HK$0.7200 HK$0.8100 54
EPV HK$2.90 HK$3.00 HK$3.09 59
Dividend Discount
Gordon GGM HK$1.69 HK$1.82 HK$2.02 70
DDM Multi-Stage HK$1.69 HK$2.01 HK$2.43 61
Multiples
P/E Multiple HK$1.43 HK$1.90 HK$2.38 63
P/S Multiple HK$1.10 HK$1.47 HK$1.84 58
P/B Multiple HK$1.10 HK$1.47 HK$1.84 55
EV/EBIT HK$3.56 HK$4.03 HK$4.50 53
EV/EBITDA HK$3.86 HK$4.43 HK$4.99 54
EV/Revenue HK$3.23 HK$3.68 HK$4.14 43
Asset-Based
NCAV (Graham) HK$3.26 HK$4.37 HK$6.52 50
Economic Profit
Residual Income HK$4.26 HK$3.98 HK$2.75 76
ROIC Compounder HK$2.90 HK$3.00 HK$3.09 72
Growth Earnings
Growth-Adj P/E HK$1.00 HK$1.44 HK$1.87 68

Widest divergence: Asset-Based (HK$4.37) versus Earnings-Based (HK$0.7200). Highest evidence: Residual Income (76).

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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 as of Jul 3, 2026
More key figures
Operating margin 0.7%
EPS (TTM) HK$0.0300
Net debt HK$81.6M FY2019

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 51 · Market factors (momentum, volatility) 23

Profitability 18
Margins and returns on capital today
Quality Growth 96
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 36
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 80
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

Linmon Media Limited, an investment holding company, engages in the production, distribution, and licensing of broadcasting rights of drama series in Mainland China and internationally.

Full company description

Linmon Media Limited, an investment holding company, engages in the production, distribution, and licensing of broadcasting rights of drama series in Mainland China and internationally. The company is also involved in content marketing and other businesses; production of made-to-order drama series; development, production, and distribution of films; investment in drama series as a non-executive producer; and licensing its IP derivatives adaptation rights. In addition, it engages in the production, operation, and distribution of radio and television programs; investment in internet live technical services; and shooting and production of product placement advertisements in drama series. Further, the company is involved in the investment and operation of drama series and relevant derivatives. Linmon Media Limited was founded in 2014 and is headquartered in Shanghai, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Linmon Media Ltd 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.

Growth Quality 20/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$863M
Latest YoY
+31.3%
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.
−3.2%
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.
−9.6%
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.
−11.5%
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

9857 screens 28% overvalued. Compare with Netflix, Inc →

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Cite: Fair Value Calculator (2026). "Linmon Media Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9857

Peer Group

Entertainment · 266 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 55 · Above median
Fair Value upside −28% · Below median
Return on equity (TTM) 1% · Above median
Return on assets -0% · Below median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth -1% · Below median
Dividend yield (TTM) 10.9% · Top 25%

Valuation Multiples vs Entertainment median · lower = cheaper

P/E (TTM) 19.9× · Pricier than median
P/B 0.31× · Cheaper than 75% of peers
P/S (TTM) 0.83× · 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.

VALUE 0 · sector 6
FUTURE 0 · sector 10
PAST 5 · sector 0
HEALTH 100 · sector 97
DIVIDEND 100 · sector 44

VALUE 0: the price sits above our fair-value range.

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 Entertainment stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Netflix, Inc ZNFL C$6.08 C$2.66 -56%
The Walt Disney Company DIS $103.18 $80.62 -22%
Warner Bros. Discovery, Inc WBD $27.65 $9.03 -67%
Live Nation Entertainment, Inc LYV $185.33 $59.97 -68%
Empresas Cablevisión, S.A. CABLECPO 55.00 MXN 59.14 MXN +8%
PT MNC Digital Entertainment Tbk, MSIN 370.00 IDR 212.14 IDR -43%
Prime Focus Limited PFOCUS ₹268.00 ₹63.45 -76%
JYP Entertainment Corporation 035900 46,000 KRW 82,382 KRW +79%
SM Entertainment Co 041510 75,500 KRW 208,415 KRW +176%
PVR INOX Limited PVRINOX ₹1,176 ₹467.91 -60%

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Frequently asked questions

Is Linmon Media Ltd (9857) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.94 versus a price of HK$2.70, about −28% (overvalued).
What is the fair value of 9857?
Our model-based fair value for Linmon Media Ltd is HK$1.94 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.70.
What is the quality score of 9857?
Linmon Media Ltd has a Quality Score of 55/100. 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 Linmon Media Ltd (9857)?
Linmon Media Ltd reported trailing-twelve-month revenue of about HK$863M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9857?
The net profit margin of Linmon Media Ltd 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.

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