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APAC Resources Limited (APPCF) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of APAC Resources Limited $0.27, price $0.19, upside +42.9%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Thin data
Sep 24, 2026
Thin data
Sep 24, 2026
APAC Resources Limited
APPCF · USSpeculativeUpside exists, but weak quality makes the signal speculative.
✓Fair value $0.2700 · Undervalued (+42.9%)
!Quality 43/100
!Weak Growth (revenue 5y −4.2 %/yr)
✓Highly profitable · 69.1% net margin (FY2025)
!negative free cash flow
!Narrow moat 39/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
60‑month range $0.0001 – $0.3793 · fair‑value band $0.2500 – $0.3400 · the $0.1889 price screens below the $0.2700 fair value. As of Sep 24, 2026.
Company profile
APAC Resources Limited, an investment holding company, engages in the commodity trading business in Hong Kong and the People's Republic of China. It operates through Commodity Business, Resource Investment, and Principal Investment and Financial Services segments.
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APAC Resources Limited, an investment holding company, engages in the commodity trading business in Hong Kong and the People's Republic of China. It operates through Commodity Business, Resource Investment, and Principal Investment and Financial Services segments. The company also trades and invests in listed and unlisted securities of energy and natural resources companies. In addition, the company engages in the provision of loan financing and money lending services; investment in loan receivables and notes, and other financial assets; and investment in and development of mineral resources. Further, it provides management services; consultancy services in corporate management; and metallurgy technology services. APAC Resources Limited was incorporated in 1998 and is headquartered in Wan Chai, Hong Kong.
Stock analysis
APAC Resources Limited (APPCF) currently trades at $0.1889, while our model-based Fair Value estimate is $0.2700, implying the stock looks roughly 30.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $0.6300 per share, and 7 of the 9 models we run sit above the $0.1889 price.
Bear case: the Dividend Discount group reads lowest at $0.0700, and 2 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.2500 (bear) to $0.3400 (bull), the price of $0.1889 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 43/100 (below-average quality), in the Financial Services sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
APAC Resources Limited reported revenue of $353M in FY2025 versus $565M in FY2021, a compound −11.1%/yr. Reported net income was $244M in FY2025, compounding −34.9%/yr from FY2021.
Key figures
Market cap $261M · P/E ratio 0.9 · P/S ratio 0.62 · EPS (TTM) $0.2100 · Net margin 69.1% · Return on equity 53.0% · Return on assets (EBIT) −0.7% · Operating margin −54.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 50% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 43%, APPCF screens cheaper than that median.
Fair Value models
Bear $0.2500
Fair Value $0.2700
Bull $0.3400
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. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.1000 per share) are deliberately not added.
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.
Highest evidence
Residual Income
$0.2400
$0.2400
$0.2500
76
Owner Earnings
$0.4500
$0.6300
$0.9000
74
Gordon GGM
$0.0500
$0.0800
$0.1000
69
All 9 models by family
DCF Models
Owner Earnings
$0.4500
$0.6300
$0.9000
74
Earnings-Based
Graham-Dodd
$0.1400
$0.8200
$1.13
63
Lynch FV
$0.2300
$0.3300
$0.4300
61
Dividend Discount
Gordon GGM
$0.0500
$0.0800
$0.1000
69
DDM Multi-Stage
$0.0500
$0.0700
$0.0800
67
Multiples
P/E Multiple
$0.2000
$0.2700
$0.3400
63
P/B Multiple
$0.2700
$0.3500
$0.4400
55
Asset-Based
NCAV (Graham)
$0.1700
$0.2300
$0.3400
51
Economic Profit
Residual Income
$0.2400
$0.2400
$0.2500
76
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Set up alert →Quality Score breakdown
Overall quality
43/100
Of which business quality 45 · Market factors (momentum, volatility) 43
Profitability
35
Margins and returns on capital today
Quality Growth
4
Are margins and returns improving?
Cashflow
0
Earnings quality: real cash, not paper profit
Fin. Strength
99
Balance sheet, leverage, solvency risk
Investment
99
Disciplined investing over empire-building
Low Volatility
50
Calm price path (market factor)
Momentum
20
Price trend over the last 3–12 months (market factor)
52W Momentum
73
Distance to the 52-week high (market factor)
Net Issuance
45
Share count: buybacks or dilution?
Revenue & earnings trend
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.
16/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−70.3%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.2%
Start year 2020 (pandemic). Over 10 years: +3.3% a year
Revenue growth 20 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
−27.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−27.6%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−27.6% vs −18.9%, slowing
Profit margin 2019 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.262% → −24%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 11.9%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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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.Capital Markets · 456 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation Multiplesvs Capital Markets median · lower = cheaper
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
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
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $188.08 | $314.07 | +67% |
| The Goldman Sachs Group GS | $900.36 | $766.86 | −15% |
| The Charles Schwab Corporation SCHW | $97.74 | $118.07 | +21% |
| Interactive Brokers Group IBKR | $89.24 | $23.12 | −74% |
| Robinhood Markets, Inc HOOD | $116.22 | $47.77 | −59% |
| Macquarie Group MQG | A$245.63 | A$80.51 | −67% |
| CITIC Securities Company 600030 | ¥26.29 | ¥18.35 | −30% |
| Guotai Haitong Securities Co 601211 | ¥17.21 | ¥19.35 | +12% |
| East Money Information Co 300059 | ¥18.28 | ¥4.94 | −73% |
| Nomura Holdings NMR | $9.91 | $10.19 | +3% |
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Frequently asked questions
Is APAC Resources Limited (APPCF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.2700 versus the last price from Sep 25, 2026 of $0.1889, about +43% upside (undervalued).
What is the fair value of APPCF?
Our model-based fair value for APAC Resources Limited is $0.2700 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $0.1889.
What is the quality score of APPCF?
APAC Resources Limited has a Quality Score of 43/100. 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 APAC Resources Limited (APPCF)?
Our model-based price target is the fair value of $0.2700 (as of Sep 24, 2026) from 9 valuation models. Cautious scenario $0.2500, optimistic scenario $0.3400. It is a calculation from audited fundamentals, not an analyst target.
What is the APAC Resources Limited stock forecast for 2026?
Our models put fair value at $0.2700, about +43% upside versus the last price from Sep 25, 2026 of $0.1889 (undervalued). Cautious scenario $0.2500, optimistic scenario $0.3400. The calculation is refreshed regularly with new filings.
What is the revenue of APAC Resources Limited (APPCF)?
APAC Resources Limited reported trailing-twelve-month revenue of about $672M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of APAC Resources Limited (APPCF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For APAC Resources Limited it is $0.2700 per share (as of Sep 24, 2026), against a price of $0.1889. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is APAC Resources Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, APPCF trades below its calculated fair value: price $0.1889, fair value $0.2700, a gap of about +43% (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 APPCF?
No. The price is what the market pays today ($0.1889); the fair value is what the company's own numbers justify ($0.2700). For APAC Resources Limited the two are $0.0811 per share apart. That gap is exactly why we show both numbers side by side.
How much is APAC Resources Limited worth?
The market values APAC Resources Limited at about $261M (market capitalisation, as of Sep 24, 2026). Per share that is $0.1889; our models calculate a fair value of $0.2700 per share.
What do the bullish and bearish scenarios say about APPCF?
Our models span a range for APAC Resources Limited: cautious scenario $0.2500, base $0.2700, optimistic $0.3400 per share (as of Sep 24, 2026, price $0.1889). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of APPCF?
APAC Resources Limited trades at a price-to-earnings ratio of 0.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.2700 is built from several models across several years. Other multiples: P/B 0.1, P/S 0.4.
How solid is the balance sheet of APAC Resources Limited (APPCF)?
Balance-sheet figures for APAC Resources Limited (as of Sep 24, 2026): return on equity 53.0%. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is APPCF from its 52-week high?
APAC Resources Limited trades at $0.1889, about 50% below its 52-week high of $0.3793 and at the low of $0.1889 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $0.2700 is for.
Which stocks are comparable to APAC Resources Limited?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 APAC Resources Limited stock attractive at the current price?
The data as of Sep 24, 2026: price $0.1889, calculated fair value $0.2700 (+43%), Quality Score 43/100, from 9 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 APPCF calculated?
We run APAC Resources Limited through 9 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 $0.2700, 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. APAC Resources Limited currently trades 30 % 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 APAC Resources Limited (APPCF)?
The latest price we hold is from Sep 25, 2026 and stands at $0.1889. Our model-based fair value is $0.2700, about +43% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with APAC Resources Limited right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($0.2500). 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. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of APAC Resources Limited
How large is the market capitalisation of APAC Resources Limited (APPCF)?
The market capitalisation of APAC Resources Limited is $261M. 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 APAC Resources Limited (APPCF)?
The price-to-sales ratio of APAC Resources Limited is 0.62 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of APAC Resources Limited (APPCF)?
Earnings per share at APAC Resources Limited are $0.2100 (price ÷ EPS = P/E 0.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of APAC Resources Limited (APPCF)?
The net margin of APAC Resources Limited is 69.1% (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 APAC Resources Limited (APPCF)?
The return on equity (ROE) of APAC Resources Limited is 53.0% (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 APAC Resources Limited (APPCF)?
On an EBIT basis the return on assets of APAC Resources Limited is −0.7% (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 APAC Resources Limited (APPCF)?
The operating margin of APAC Resources Limited is −54.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at APAC Resources Limited (APPCF)?
Revenue at APAC Resources Limited is growing +216% versus a year earlier (3y avg +0.4%). 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 APAC Resources Limited (APPCF)?
Earnings per share at APAC Resources Limited are growing +24.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does APAC Resources Limited (APPCF) generate?
The free cash flow of APAC Resources Limited is −$26.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does APAC Resources Limited (APPCF) hold?
APAC Resources Limited holds more cash than debt, $2.1B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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