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Migao Grp Hldg Ltd (9879) Fair Value & Analysis

Basic Materials · HK · Market cap HK$8.0B

MG Migao Grp Hldg Ltd 9879 · HK
PriceHK$9.49
Fair ValueHK$6.74
Upside-29.0%
Quality52/100
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Expensive Growth
Thin margins · 6.1% net margin
Low debt · negative free cash flow
0.95% dividend yield
Mixed vs. peers (7/13)
Narrow moat 41/100
Evidence: High Range HK$5.06 – HK$8.43 Share as image

Fair value as of: Aug 13, 2026

From 17 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$6.90 to HK$6.74 (−2.3%) since Aug 6, 2026. Share price +5.6% over the past month.

A solid business, but screening 29% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$8.43). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (2 years)

HK$9.49 HK$3.99 Fair Value HK$6.74 Mar 2024 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

29‑month range HK$3.99 – HK$9.49 · fair‑value band HK$5.06 – HK$8.43 · the HK$9.49 price screens above the HK$6.74 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Migao Grp Hldg Ltd (9879) currently trades at HK$9.49, while our model-based Fair Value estimate is HK$6.74, implying the stock looks roughly 29.0% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Basic Materials 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, Migao Grp Hldg Ltd generated revenue of HK$6.2B at a net margin of 6.1%. Revenue grew 34.7% year over year. It earns a return on equity of 12.3%. The balance sheet holds a net cash position of HK$78.9M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$5.06 (bear case) to HK$8.43 (bull case); at HK$9.49, 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 near its 52-week high and 107% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -17% fair-value upside, at -29%, 9879 screens richer 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$3.02 HK$3.54 HK$7.39 76
ROIC Compounder HK$6.00 HK$8.06 HK$10.70 72
Gordon GGM HK$0.5400 HK$1.07 HK$1.62 70
All 17 models by family
DCF Models
Owner Earnings HK$5.58 HK$10.68 HK$20.98 31
Earnings-Based
Graham-Dodd HK$2.70 HK$18.70 HK$26.24 54
Lynch FV HK$5.51 HK$7.88 HK$10.24 50
PEG = 1.0 HK$5.51 HK$7.88 HK$10.24 46
EPV HK$5.13 HK$5.73 HK$6.24 59
Dividend Discount
Gordon GGM HK$0.5400 HK$1.07 HK$1.62 70
DDM Multi-Stage HK$0.5400 HK$0.9200 HK$1.13 61
Multiples
P/E Multiple HK$5.06 HK$6.74 HK$8.43 63
P/S Multiple HK$5.06 HK$6.74 HK$8.43 58
P/B Multiple HK$5.06 HK$6.74 HK$8.43 55
EV/EBIT HK$6.64 HK$8.40 HK$10.16 53
EV/EBITDA HK$5.29 HK$6.60 HK$7.91 54
EV/Revenue HK$5.93 HK$7.90 HK$9.86 43
Asset-Based
NCAV (Graham) HK$1.67 HK$2.23 HK$3.33 50
Economic Profit
Residual Income HK$3.02 HK$3.54 HK$7.39 76
ROIC Compounder HK$6.00 HK$8.06 HK$10.70 72
Growth Earnings
Growth-Adj P/E HK$6.94 HK$9.91 HK$12.89 68

Widest divergence: DCF Models (HK$10.68) versus Dividend Discount (HK$0.9200). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$6.2B
Revenue growth (YoY) +34.7%
Net margin 6.1%
Return on equity 12.3%
Free cash flow −HK$1.6M FY2025
P/E ratio 18.7 as of Jul 3, 2026
More key figures
Operating margin 9.0%
EPS (TTM) HK$0.3500
Dividend yield 1.0%
EPS growth (YoY) +22.9%
Net cash HK$78.9M FY2026

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

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 83

Profitability 44
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 38
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 74
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 81
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

Migao Group Holdings Limited, an investment holding company, engages in sourcing, procuring, processing, manufacturing, and trading of specialty potash-based fertilizers in the People's Republic of China. The company provides potassium chloride, potassium sulphate, hydrochloric acid, and compound fertilizers; and resells potassium nitrate.

Full company description

Migao Group Holdings Limited, an investment holding company, engages in sourcing, procuring, processing, manufacturing, and trading of specialty potash-based fertilizers in the People's Republic of China. The company provides potassium chloride, potassium sulphate, hydrochloric acid, and compound fertilizers; and resells potassium nitrate. It also offers warehousing services; research and development related services; and technical and project management services. Migao Group Holdings Limited sells its products to agricultural reclamation and agribusiness companies. The company was founded in 2003 and is based in Central, Hong Kong. Migao Group Holdings Limited is a subsidiary of Migao Holding Limited.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Migao Grp Hldg Ltd reported revenue of HK$6.0B in FY2026 versus HK$3.8B in FY2022, a compound +11.6%/yr. Reported net income was HK$360M in FY2026, compounding −2.3%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
HK$6.0B
Latest YoY
+20.0%
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.
+8.1%
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.
+23.4%
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.
+21.4%
Revenue +11.6%/yr
FY22 HK$3.8B
FY23 HK$4.7B
FY24 HK$3.8B
FY25 HK$5.0B
FY26 HK$6.0B
Net income −2.3%/yr
FY22 HK$396M
FY23 HK$405M
FY24 HK$252M
FY25 HK$307M
FY26 HK$360M

9879 screens 29% overvalued. Compare with Corteva, Inc →

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Cite: Fair Value Calculator (2026). "Migao Grp Hldg Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9879

Peer Group

Agricultural Inputs · 178 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 52 · Above median
Fair Value upside −29% · Below median
Return on equity (TTM) 12% · Above median
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 35% · Top 25%
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Agricultural Inputs median · lower = cheaper

P/E (TTM) 18.7× · Pricier than median
P/B 2.64× · Pricier than 75% of peers
P/S (TTM) 1.29× · Pricier than median
EV/EBITDA 14.1× · Pricier than 75% of peers

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 24
FUTURE 100 · sector 41
PAST 49 · sector 24
HEALTH 97 · sector 97
DIVIDEND 19 · sector 41

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

Stock Price Fair Value vs Fair Value
Corteva, Inc CTVA $76.22 $27.81 -64%
Nutrien Ltd NTR C$93.60 C$81.69 -13%
Qinghai Salt Lake Industry Co 000792 ¥27.65 ¥21.26 -23%
CF Industries Holdings CF $120.01 $161.00 +34%
SABIC Agri-Nutrients Company 2020 122.90 SAR 127.31 SAR +4%
Yara International ASA YAR kr 418.10 kr 67.25 -84%
Yunnan Yuntianhua Co 600096 ¥29.82 ¥42.12 +41%
Asia-potash International Investment (Guangzhou)Co.,Ltd., 000893 ¥45.86 ¥38.01 -17%
Coromandel International Limited COROMANDEL ₹2,089 ₹1,129 -46%
UPL Limited UPL ₹570.50 ₹387.06 -32%

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Frequently asked questions

Is Migao Grp Hldg Ltd (9879) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$6.74 versus a price of HK$9.49, about −29% (overvalued).
What is the fair value of 9879?
Our model-based fair value for Migao Grp Hldg Ltd is HK$6.74 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$9.49.
What is the quality score of 9879?
Migao Grp Hldg Ltd has a Quality Score of 52/100. 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 Migao Grp Hldg Ltd (9879)?
Migao Grp Hldg Ltd reported trailing-twelve-month revenue of about HK$6.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9879?
The net profit margin of Migao Grp Hldg Ltd is about 6.1%, meaning it keeps roughly 6.1% of revenue as net income. Based on the latest reported figures.
Does Migao Grp Hldg Ltd pay a dividend?
Migao Grp Hldg Ltd currently shows a dividend yield of about 0.95% relative to its recent price (as of Aug 13, 2026).

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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