Dickson Concepts (International) Limited (DCOHF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Dickson Concepts (International) Limited $1.75, price $0.81, upside +116.1%, quality 57 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 Sep 24, 2026.
How to read this chart
60‑month range $0.0154 – $0.8332 · fair‑value band $1.36 – $1.80 · the $0.8100 price screens below the $1.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Dickson Concepts (International) Limited, an investment holding company, sells luxury goods in Hong Kong, Taiwan, and internationally. It operates in two segments, Sale of Luxury Goods and Securities Investment.
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Dickson Concepts (International) Limited, an investment holding company, sells luxury goods in Hong Kong, Taiwan, and internationally. It operates in two segments, Sale of Luxury Goods and Securities Investment. The company also sells and licenses fashion and accessories, watches and jewelry, cosmetics and beauty products, lighters, writing instruments, and leather goods. In addition, it provides interior design, management consultancy and professional services, and import services; and operates warehouses. Further, the company engages in the securities and property investment activities; trademarks agency business; arrangement of property tenancy agreements; and operation of Harvey Nichols and Beauty Avenue stores. It offers its products under the Harvey Nichols, Beauty Avenue, S.T. Dupont, Dickson Watch & Jewellery, Rolex, Tudor, Chopard, Bvlgari, Hublot, Tod's, Roger Vivier, and Hogan brand names. The company was founded in 1980 and is headquartered in Tsim Sha Tsui, Hong Kong. Dickson Concepts (International) Limited operates as a subsidiary of Dickson Investment Holding (PTC) Corporation.
Stock analysis
Dickson Concepts (International) Limited (DCOHF) currently trades at $0.8100, while our model-based Fair Value estimate is $1.75, implying the stock looks roughly 53.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $2.26 per share, and 11 of the 15 models we run sit above the $0.8100 price.
Bear case: the Dividend Discount group reads lowest at $0.4400, and 4 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: $1.36 (bear) to $1.80 (bull), the price of $0.8100 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 57/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Dickson Concepts (International) Limited reported revenue of HK$2.0B in FY2026 versus HK$2.0B in FY2022, a compound −0.4%/yr. Reported net income was HK$249M in FY2026, compounding +5.5%/yr from FY2022.
Key figures
Market cap $313M · P/E ratio 11.6 · P/S ratio 1.45 · EPS (TTM) $0.0700 · Net margin 12.5% · Return on equity 6.9% · Return on assets (EBIT) 5.7% · Operating margin 8.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 3% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 9% fair-value upside, at 116%, DCOHF screens cheaper than that median.
Fair Value models
Bear $1.36Fair Value $1.75Bull $1.80
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.25/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+3.5%
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.
−2.3%
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.
−2.7%
Start year 2021 (pandemic). Over 10 years: −5.8% a year
Revenue growth 23 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.
−0.9%
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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.
−11.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.3%
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.−11.3% vs 11.8%, slowing
Profit margin 2021 to 2026 ⓘ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.21% → 12%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 7.5%/yr over ~10Y (margin trend unclear) ⓘ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.
Compare Dickson Concepts (International) Limited with another stock
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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.Luxury Goods · 122 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+142.2% · Top 25%
Profitability
Return on equity (TTM)6.9% · Below median
Return on assets3.1% · Below median
Net margin (TTM)12.5% · Top 25%
Operating margin (TTM)8.9% · Above median
Growth and dividend
Revenue growth5.8% · Below median
Dividend yield (TTM)44.3% · Top 25%
Valuation Multiplesvs Luxury Goods median · lower = cheaper
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Is Dickson Concepts (International) Limited (DCOHF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $1.75 versus a price of $0.8100, about +116% upside (undervalued).
What is the fair value of DCOHF?
Our model-based fair value for Dickson Concepts (International) Limited is $1.75 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.8100.
What is the quality score of DCOHF?
Dickson Concepts (International) Limited has a Quality Score of 57/100. 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 Dickson Concepts (International) Limited (DCOHF)?
Our model-based price target is the fair value of $1.75 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario $1.36, optimistic scenario $1.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Dickson Concepts (International) Limited stock forecast for 2026?
Our models put fair value at $1.75, about +116% upside versus a price of $0.8100 (undervalued). Cautious scenario $1.36, optimistic scenario $1.80. The calculation is refreshed regularly with new filings.
What is the revenue of Dickson Concepts (International) Limited (DCOHF)?
Dickson Concepts (International) Limited reported trailing-twelve-month revenue of about HK$2.0B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Dickson Concepts (International) Limited (DCOHF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dickson Concepts (International) Limited it is $1.75 per share (as of Sep 24, 2026), against a price of $0.8100. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Dickson Concepts (International) Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DCOHF trades below its calculated fair value: price $0.8100, fair value $1.75, a gap of about +116% (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 DCOHF?
No. The price is what the market pays today ($0.8100); the fair value is what the company's own numbers justify ($1.75). For Dickson Concepts (International) Limited the two are $0.9400 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dickson Concepts (International) Limited worth?
The market values Dickson Concepts (International) Limited at about $313M (market capitalisation, as of Sep 24, 2026). Per share that is $0.8100; our models calculate a fair value of $1.75 per share.
What do the bullish and bearish scenarios say about DCOHF?
Our models span a range for Dickson Concepts (International) Limited: cautious scenario $1.36, base $1.75, optimistic $1.80 per share (as of Sep 24, 2026, price $0.8100). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DCOHF?
Dickson Concepts (International) Limited trades at a price-to-earnings ratio of 11.6 (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 $1.75 is built from several models across several years. Other multiples: P/B 0.7, P/S 1.2.
How solid is the balance sheet of Dickson Concepts (International) Limited (DCOHF)?
Balance-sheet figures for Dickson Concepts (International) Limited (as of Sep 24, 2026): return on equity 6.9%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is DCOHF from its 52-week high?
Dickson Concepts (International) Limited trades at $0.8100, about 3% below its 52-week high of $0.8332 and 29% above the low of $0.6297 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $1.75 is for.
Which stocks are comparable to Dickson Concepts (International) Limited?
From the same area (Consumer Cyclical) we also value Compagnie Financière Richemont SA, Christian Dior SE, Titan Company, Tapestry, Inc, 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 Dickson Concepts (International) Limited stock attractive at the current price?
The data as of Sep 24, 2026: price $0.8100, calculated fair value $1.75 (+116%), Quality Score 57/100, from 15 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 DCOHF calculated?
We run Dickson Concepts (International) Limited through 15 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 $1.75, 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. Dickson Concepts (International) Limited currently trades 54 % 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 Dickson Concepts (International) Limited (DCOHF)?
The closing price on Oct 2, 2026 was $0.8100. Our model-based fair value is $1.75, about +116% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dickson Concepts (International) Limited right now?
The price is below even our cautious bear case ($1.36). 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 (57/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Dickson Concepts (International) Limited
How large is the market capitalisation of Dickson Concepts (International) Limited (DCOHF)?
The market capitalisation of Dickson Concepts (International) Limited is $313M. 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 Dickson Concepts (International) Limited (DCOHF)?
The price-to-sales ratio of Dickson Concepts (International) Limited is 1.45 (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 Dickson Concepts (International) Limited (DCOHF)?
Earnings per share at Dickson Concepts (International) Limited are $0.0700 (price ÷ EPS = P/E 11.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dickson Concepts (International) Limited (DCOHF)?
The net margin of Dickson Concepts (International) Limited is 12.5% (fiscal year 2026). 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 Dickson Concepts (International) Limited (DCOHF)?
The return on equity (ROE) of Dickson Concepts (International) Limited is 6.9% (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 Dickson Concepts (International) Limited (DCOHF)?
On an EBIT basis the return on assets of Dickson Concepts (International) Limited is 5.7% (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 Dickson Concepts (International) Limited (DCOHF)?
The operating margin of Dickson Concepts (International) Limited is 8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dickson Concepts (International) Limited (DCOHF)?
Revenue at Dickson Concepts (International) Limited is growing +5.8% versus a year earlier (3y avg −2.3%). 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 Dickson Concepts (International) Limited (DCOHF)?
Earnings per share at Dickson Concepts (International) Limited are growing +51.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Dickson Concepts (International) Limited (DCOHF) generate?
The free cash flow of Dickson Concepts (International) Limited is −HK$214M (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 Dickson Concepts (International) Limited (DCOHF) hold?
Dickson Concepts (International) Limited holds more cash than debt, HK$2.7B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 24, 2026