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Frontier Services Group Limited (DVNHF) fair value: what the stock is really worth

As of Sep 28, 2026: fair value of Frontier Services Group Limited $0.00, price $0.00, upside +0.2%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Industrials · US · Home Hong Kong

FS Frontier Services Group Limited logo Thin data Sep 13, 2026

Frontier Services Group Limited

DVNHF · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $0.0022 · Fairly valued (+0.2%)
!Quality 35/100
!Weak Growth (revenue 5y +1.5 %/yr)
!Loss-making · -31.4% net margin (TTM)
!High debt · negative free cash flow
!Trails peers (0/8)
!Narrow moat 9/100
!Evidence only low, so the estimate is less certain
!Weak on balance sheet: 4 out of 100
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$0.4000 $0.0001 Fair Value $0.0022 Jun 2015 Sep 2026

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

How to read this chart

60‑month range $0.0001 – $0.4000 · fair‑value band $0.0022 – $0.0022 · the $0.0022 price screens below the $0.0022 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Frontier Services Group Limited, together with its subsidiaries, provides security, insurance, aviation, logistics, and infrastructure-related services in China, Hong Kong, Kenya, Nigeria, Laos, the Democratic Republic of the Congo, and internationally.

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Frontier Services Group Limited, together with its subsidiaries, provides security, insurance, aviation, logistics, and infrastructure-related services in China, Hong Kong, Kenya, Nigeria, Laos, the Democratic Republic of the Congo, and internationally. The company offers protective services, including threat and risk assessments, executive/close protection, safety implementation, strategy and policy development, and physical and technical, IT, and aviation security, as well as specialized training services; and finance, liability, property, and personnel insurance programs, as well as special insurance solutions, such as medical and emergency evacuation, repatriation, kidnap and ransom response, and crisis management. It also provides aviation services; engineering project logistics services and transportation of valuables; and infrastructure solutions comprising project planning, business consulting, investment and financing, engineering design, project implementation and operation, and support services. In addition, the company engages in aircraft holding; consultancy services; and investment management. It serves the oil and gas, mining, finance, energy, and infrastructure industries, as well as international organizations. The company was formerly known as DVN (Holdings) Limited and changed its name to Frontier Services Group Limited in March 2014. Frontier Services Group Limited was incorporated in 1989 and is headquartered in Admiralty, Hong Kong.

Stock analysis

Frontier Services Group Limited (DVNHF) currently trades at $0.0022, while our model-based Fair Value estimate is $0.0022, so the stock looks roughly fairly valued today (gap 0.2%).

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 80/100, which puts the evidence level at low.

Scenario range: $0.0022 (bear) to $0.0022 (bull), the price of $0.0022 sits inside 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 35/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Frontier Services Group Limited reported revenue of HK$651M in FY2025 versus HK$756M in FY2021, a compound −3.7%/yr. Reported net income was −HK$204M in FY2025.

Key figures

Market cap $22.2M · P/S ratio 0.03 · EPS (TTM) $−0.0100 · Net margin −31.4% · Return on equity −66.0% · Return on assets (EBIT) −4.0% · Operating margin −14.2% · Revenue (TTM) HK$651M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

For context, the median of 10 Industrials peers we cover trades at 2% fair-value upside, at 0%, DVNHF screens richer than that median.

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Quality Score breakdown

Overall quality 35/100

Of which business quality 32 · Market factors (momentum, volatility) 17

Profitability 15
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 78
Share count: buybacks or dilution?

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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. 0/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−13.6%
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.
−12.3%
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.
+1.5%
Start year 2020 (pandemic). Over 10 years: +11.7% a year
Revenue growth 27 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.
−1.1%
Profit margin (trend) ⓘ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.
−34.9% (2020) → −9.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Conglomerates · 360 stocks

Beats the industry median on 0/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside +0.0% · Below median
Profitability
Return on assets −7.2% · Bottom 25%
Net margin (TTM) −31.4% · Bottom 25%
Operating margin (TTM) −14.2% · Bottom 25%
Growth and dividend
Revenue growth −17.0% · Bottom 25%
Balance sheet
Debt / equity 1.92× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 39
FUTURE (revenue growth)0 · sector 24
PAST (return on equity)0 · sector 20
HEALTH (low debt)4 · sector 89
DIVIDEND (yield)0 · sector 43

Context: sector, industry, 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

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Jardine Matheson Holdings J36 $55.36 $78.34 +42%
Keppel Ltd BN4 11.30 SGD 3.88 SGD −66%
Kingdom Holding 4280 13.08 SAR 13.40 SAR +2%
Koç Holding KCHOL 216.50 TRY 182.26 TRY −16%

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Cite: Fair Value Calculator (2026). "Frontier Services Group Limited Fair Value". https://www.fairvalue-calculator.com/stock/DVNHF

Frequently asked questions

Is Frontier Services Group Limited (DVNHF) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $0.0022 versus a price of $0.0022, about +0% upside (fairly valued).
What is the fair value of DVNHF?
Our model-based fair value for Frontier Services Group Limited is $0.0022 (as of Sep 13, 2026), built from audited fundamentals. The current price: $0.0022.
What is the quality score of DVNHF?
Frontier Services Group Limited has a Quality Score of 35/100. 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 Frontier Services Group Limited (DVNHF)?
Our model-based price target is the fair value of $0.0022 (as of Sep 13, 2026) from 3 valuation models. Cautious scenario $0.0022, optimistic scenario $0.0022. It is a calculation from audited fundamentals, not an analyst target.
What is the Frontier Services Group Limited stock forecast for 2026?
Our models put fair value at $0.0022, about +0% upside versus a price of $0.0022 (fairly valued). Cautious scenario $0.0022, optimistic scenario $0.0022. The calculation is refreshed regularly with new filings.
What is the revenue of Frontier Services Group Limited (DVNHF)?
Frontier Services Group Limited reported trailing-twelve-month revenue of about HK$651M (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Frontier Services Group Limited (DVNHF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Frontier Services Group Limited it is $0.0022 per share (as of Sep 13, 2026), against a price of $0.0022. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Frontier Services Group Limited stock overvalued or undervalued in 2026?
As of Sep 13, 2026, DVNHF trades below its calculated fair value: price $0.0022, fair value $0.0022, a gap of about +0% (fairly valued). 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 DVNHF?
No. The price is what the market pays today ($0.0022); the fair value is what the company's own numbers justify ($0.0022). For Frontier Services Group Limited the two are $0.0000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Frontier Services Group Limited worth?
The market values Frontier Services Group Limited at about $22.2M (market capitalisation, as of Sep 13, 2026). Per share that is $0.0022; our models calculate a fair value of $0.0022 per share.
What do the bullish and bearish scenarios say about DVNHF?
Our models span a range for Frontier Services Group Limited: cautious scenario $0.0022, base $0.0022, optimistic $0.0022 per share (as of Sep 13, 2026, price $0.0022). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Frontier Services Group Limited (DVNHF)?
Balance-sheet figures for Frontier Services Group Limited (as of Sep 13, 2026): return on equity −66.0%, debt of 1.92 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
Which stocks are comparable to Frontier Services Group Limited?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Swire Pacific Limited, 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 Frontier Services Group Limited stock attractive at the current price?
The data as of Sep 13, 2026: price $0.0022, calculated fair value $0.0022 (+0%), Quality Score 35/100, from 3 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 DVNHF calculated?
We run Frontier Services Group Limited through 3 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 $0.0022, 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. Frontier Services Group Limited itself currently trades above fair value. 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 Frontier Services Group Limited (DVNHF)?
The closing price on Sep 28, 2026 was $0.0022. Our model-based fair value is $0.0022, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Frontier Services Group Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The models converge in a tight band ($0.0022 to $0.0022), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Frontier Services Group Limited

How large is the market capitalisation of Frontier Services Group Limited (DVNHF)?
The market capitalisation of Frontier Services Group Limited is $22.2M. 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 Frontier Services Group Limited (DVNHF)?
The price-to-sales ratio of Frontier Services Group Limited is 0.03 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Frontier Services Group Limited (DVNHF)?
Earnings per share at Frontier Services Group Limited are $−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Frontier Services Group Limited (DVNHF)?
The net margin of Frontier Services Group Limited is −31.4% (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 Frontier Services Group Limited (DVNHF)?
The return on equity (ROE) of Frontier Services Group Limited is −66.0% (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 Frontier Services Group Limited (DVNHF)?
On an EBIT basis the return on assets of Frontier Services Group Limited is −4.0% (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 Frontier Services Group Limited (DVNHF)?
The operating margin of Frontier Services Group Limited is −14.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Frontier Services Group Limited (DVNHF)?
Revenue at Frontier Services Group Limited is growing −17.0% versus a year earlier (3y avg −12.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Frontier Services Group Limited (DVNHF) generate?
The free cash flow of Frontier Services Group Limited is −HK$35.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Frontier Services Group Limited (DVNHF) carry?
The net debt of Frontier Services Group Limited is HK$29.8M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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