Yeahka Ltd (9923) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Yeahka Ltd HK$10.98, price HK$3.98, upside +175.9%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range HK$3.84 – HK$55.00 · fair‑value band HK$9.97 – HK$11.97 · the HK$3.98 price screens below the HK$10.98 fair value. Dashed = 300-day average. As of Oct 1, 2026.
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Yeahka Limited, an investment holding company, provides payment and business services to merchants and consumers in the People's Republic of China. It offers one-stop payment and value-added services.
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Yeahka Limited, an investment holding company, provides payment and business services to merchants and consumers in the People's Republic of China. It offers one-stop payment and value-added services. The company also provides merchant solutions, payment terminal and mobile payment services, Software as a Service (SaaS), marketing, fintech services, and in-store e-commerce services. Yeahka Limited was incorporated in 2011 and is headquartered in Shenzhen, the People's Republic of China.
Stock analysis
Yeahka Ltd (9923) currently trades at HK$3.98, while our model-based Fair Value estimate is HK$10.98, implying the stock looks roughly 63.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$18.63 per share, and 24 of the 24 models we run sit above the HK$3.98 price.
Bear case: the Earnings-Based group reads lowest at HK$5.30, and 0 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$9.97 (bear) to HK$11.97 (bull), the price of HK$3.98 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 55/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Yeahka Ltd reported revenue of 3.3B CNY in FY2025 versus 3.1B CNY in FY2021, a compound +2.0%/yr. Reported net income was 92.2M CNY in FY2025, compounding −31.6%/yr from FY2021.
Key figures
Market cap HK$1.6B (≈ $207M) · P/E ratio 14.7 · P/S ratio 0.41 · Dividend yield 0.8% · Net margin 2.8% · Return on equity 2.9% · Return on assets (EBIT) 2.8% · Operating margin 5.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 63% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −23% fair-value upside, at 176%, 9923 screens cheaper than that median.
Fair Value models
Bear HK$9.97Fair Value HK$10.98Bull HK$11.97
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−24.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−25.1%
Dividend (yield on the price)0.8%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.15% → 4%
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−1.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −2.8% a year for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Software - Infrastructure · 339 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+175.9% · Top 25%
Profitability
Return on equity (TTM)2.9% · Below median
Return on assets1.9% · Below median
Net margin (TTM)3.2% · Below median
Operating margin (TTM)5.0% · Below median
Growth and dividend
Revenue growth−23.9% · Bottom 25%
Dividend yield (TTM)0.8% · Below median
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Yeahka Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9923
Frequently asked questions
Is Yeahka Ltd (9923) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of HK$10.98 versus a price of HK$3.98, about +176% upside (undervalued).
What is the fair value of 9923?
Our model-based fair value for Yeahka Ltd is HK$10.98 (as of Oct 1, 2026), built from audited fundamentals. The current price: HK$3.98.
What is the quality score of 9923?
Yeahka 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 price target for Yeahka Ltd (9923)?
Our model-based price target is the fair value of HK$10.98 (as of Oct 1, 2026) from 24 valuation models. Cautious scenario HK$9.97, optimistic scenario HK$11.97. It is a calculation from audited fundamentals, not an analyst target.
What is the Yeahka Ltd stock forecast for 2026?
Our models put fair value at HK$10.98, about +176% upside versus a price of HK$3.98 (undervalued). Cautious scenario HK$9.97, optimistic scenario HK$11.97. The calculation is refreshed regularly with new filings.
What is the revenue of Yeahka Ltd (9923)?
Yeahka Ltd reported trailing-twelve-month revenue of about 2.9B CNY (latest available figure, as of Oct 1, 2026).
Does Yeahka Ltd pay a dividend?
Yeahka Ltd currently shows a dividend yield of about 0.75% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Yeahka Ltd (9923)?
For today's price to be fair in a discounted-cash-flow model, Yeahka Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.6 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of 9923 use?
Our models discount Yeahka Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.29, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Yeahka Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Yeahka Ltd (9923) delivered so far?
Over the past 5 years revenue at Yeahka Ltd grew +7.6 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Yeahka Ltd (9923) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into Yeahka Ltd (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Yeahka Ltd (9923)?
The free-cash-flow yield on the price is 14.50 %: that much free cash flow Yeahka Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Yeahka Ltd (9923)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yeahka Ltd it is HK$10.98 per share (as of Oct 1, 2026), against a price of HK$3.98. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Yeahka Ltd stock overvalued or undervalued in 2026?
As of Oct 1, 2026, 9923 trades below its calculated fair value: price HK$3.98, fair value HK$10.98, a gap of about +176% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 9923?
No. The price is what the market pays today (HK$3.98); the fair value is what the company's own numbers justify (HK$10.98). For Yeahka Ltd the two are HK$7.00 per share apart. That gap is exactly why we show both numbers side by side.
How much is Yeahka Ltd worth?
The market values Yeahka Ltd at about HK$1.6B (market capitalisation, as of Oct 1, 2026). Per share that is HK$3.98; our models calculate a fair value of HK$10.98 per share.
What do the bullish and bearish scenarios say about 9923?
Our models span a range for Yeahka Ltd: cautious scenario HK$9.97, base HK$10.98, optimistic HK$11.97 per share (as of Oct 1, 2026, price HK$3.98). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 9923?
Yeahka Ltd trades at a price-to-earnings ratio of 14.7 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$10.98 is built from several models across several years. Other multiples: P/B 0.5, P/S 0.5.
How solid is the balance sheet of Yeahka Ltd (9923)?
Balance-sheet figures for Yeahka Ltd (as of Oct 1, 2026): return on equity 2.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 9923 from its 52-week high?
Yeahka Ltd trades at HK$3.98, about 63% below its 52-week high of HK$10.62 and 4% above the low of HK$3.84 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$10.98 is for.
Which stocks are comparable to Yeahka Ltd?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, CrowdStrike Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Yeahka Ltd stock attractive at the current price?
The data as of Oct 1, 2026: price HK$3.98, calculated fair value HK$10.98 (+176%), Quality Score 55/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 9923 calculated?
We run Yeahka Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$10.98, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Yeahka Ltd currently trades 64 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Yeahka Ltd (9923)?
The closing price on Sep 30, 2026 was HK$3.98. Our model-based fair value is HK$10.98, about +176% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Yeahka Ltd right now?
The price is below even our cautious bear case (HK$9.97). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Yeahka Ltd
How large is the market capitalisation of Yeahka Ltd (9923)?
The market capitalisation of Yeahka Ltd is HK$1.6B (≈ $207M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Yeahka Ltd (9923)?
The price-to-sales ratio of Yeahka Ltd is 0.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Yeahka Ltd (9923)?
The dividend yield of Yeahka Ltd is 0.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Yeahka Ltd (9923)?
The net margin of Yeahka Ltd is 2.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Yeahka Ltd (9923)?
The return on equity (ROE) of Yeahka Ltd is 2.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Yeahka Ltd (9923)?
On an EBIT basis the return on assets of Yeahka Ltd is 2.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Yeahka Ltd (9923)?
The operating margin of Yeahka Ltd is 5.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Yeahka Ltd (9923)?
Revenue at Yeahka Ltd is growing −23.9% versus a year earlier (3y avg −1.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Yeahka Ltd (9923)?
Earnings per share at Yeahka Ltd are growing +0.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Yeahka Ltd (9923) hold?
Yeahka Ltd holds more cash than debt, 1.3B CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 1, 2026