Highway Holdings Limited (HIHO) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Highway Holdings Limited $1.46, price $0.94, upside +55.7%, quality 58 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 23, 2026.
How to read this chart
60‑month range $0.7150 – $3.64 · the $0.9350 price screens below the $1.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Highway Holdings Limited, together with its subsidiaries, manufactures and sells metal, plastic, electric, and electronic parts and components, subassemblies, and finished products in Hong Kong, China, Europe, and North America. The company operates through two segments, Metal Stamping and Mechanical Original Equipment Manufacturer (OEM), and Electric OEM.
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Highway Holdings Limited, together with its subsidiaries, manufactures and sells metal, plastic, electric, and electronic parts and components, subassemblies, and finished products in Hong Kong, China, Europe, and North America. The company operates through two segments, Metal Stamping and Mechanical Original Equipment Manufacturer (OEM), and Electric OEM. Its products are used in the manufacture of products, such as photocopiers, laser printers, print cartridges, electrical connectors, electrical circuits, vacuum cleaners, LED power supplies, stepping motors, pumps for dishwashers, and other washing machine components. The company also provides assistance in the design and development of the tooling used in the metal and plastic manufacturing process; manufacturing services, including metal stamping, screen printing, plastic injection molding, pad printing, and electronic assembly of printed circuit boards; and engineering services. In addition, it engages in the trade of plastic injection products; and manufacture and assembly of metal, plastics, mold and electronic products, and automation equipment. The company offers its products to OEMs and contract manufacturers. Highway Holdings Limited was incorporated in 1990 and is headquartered in Sheung Shui, Hong Kong.
Stock analysis
Highway Holdings Limited (HIHO) currently trades at $0.9350, while our model-based Fair Value estimate is $1.46, implying the stock looks roughly 35.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $3.35 per share, and 4 of the 11 models we run sit above the $0.9350 price.
Bear case: the Earnings-Based group reads lowest at $0.1900, and 7 of the 11 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Highway Holdings Limited reported revenue of $7.4M in FY2025 versus $9.2M in FY2021, a compound −5.2%/yr. Reported net income was $106K in FY2025.
Key figures
Market cap $4.1M · P/S ratio 0.69 · EPS (TTM) $−0.1700 · Dividend yield 13.4% · Net margin 1.4% · Return on equity −12.3% · Return on assets (EBIT) −3.2% · Operating margin −42.4%.
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 45% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 56%, HIHO screens cheaper than that median.
Fair Value models
Bear $1.46Fair Value $1.46Bull $1.46
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.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.20/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+17.3%
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.
−15.7%
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.
−10.0%
Start year 2020 (pandemic). Over 10 years: −10.5% a year
Revenue growth 28 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.
−3.1%
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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. Basis: adjusted.
−17.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−30.7%
Dividend (yield on the price)13.4%
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.−33% vs −22%, slowing
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.6% → −7%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 11.8%/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.
Compare Highway Holdings 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.Metal Fabrication · 262 stocks
Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+56% · Top 25%
Profitability
Return on assets−13% · Bottom 25%
Net margin (TTM)−14% · Bottom 25%
Operating margin (TTM)−42% · Bottom 25%
Growth and dividend
Revenue growth−41% · Bottom 25%
Dividend yield (TTM)13.4% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
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Is Highway Holdings Limited (HIHO) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $1.46 versus a price of $0.9350, about +56% upside (undervalued).
What is the fair value of HIHO?
Our model-based fair value for Highway Holdings Limited is $1.46 (as of Sep 23, 2026), built from audited fundamentals. The current price: $0.9350.
What is the quality score of HIHO?
Highway Holdings Limited has a Quality Score of 58/100. 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 Highway Holdings Limited (HIHO)?
Our model-based price target is the fair value of $1.46 (as of Sep 23, 2026) from 11 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Highway Holdings Limited stock forecast for 2026?
Our models put fair value at $1.46, about +56% upside versus a price of $0.9350 (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of Highway Holdings Limited (HIHO)?
Highway Holdings Limited reported trailing-twelve-month revenue of about $5.4M (latest available figure, as of Sep 23, 2026).
Does Highway Holdings Limited pay a dividend?
Highway Holdings Limited currently shows a dividend yield of about 13.37% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Highway Holdings Limited (HIHO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Highway Holdings Limited it is $1.46 per share (as of Sep 23, 2026), against a price of $0.9350. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Highway Holdings Limited stock overvalued or undervalued in 2026?
As of Sep 23, 2026, HIHO trades below its calculated fair value: price $0.9350, fair value $1.46, a gap of about +56% (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 HIHO?
No. The price is what the market pays today ($0.9350); the fair value is what the company's own numbers justify ($1.46). For Highway Holdings Limited the two are $0.5210 per share apart. That gap is exactly why we show both numbers side by side.
How much is Highway Holdings Limited worth?
The market values Highway Holdings Limited at about $4.1M (market capitalisation, as of Sep 23, 2026). Per share that is $0.9350; our models calculate a fair value of $1.46 per share.
What is the PEG ratio of HIHO?
The PEG ratio of Highway Holdings Limited is 20.56 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Highway Holdings Limited (HIHO)?
Balance-sheet figures for Highway Holdings Limited (as of Sep 23, 2026): return on equity −12.3%, debt of 0.02 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is HIHO from its 52-week high?
Highway Holdings Limited trades at $0.9350, about 45% below its 52-week high of $1.70 and 31% above the low of $0.7150 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $1.46 is for.
Which stocks are comparable to Highway Holdings Limited?
From the same area (Industrials) we also value Carpenter Technology Corporation, ATI Inc, Mueller Industries, Inc, Aurubis AG, 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 Highway Holdings Limited stock attractive at the current price?
The data as of Sep 23, 2026: price $0.9350, calculated fair value $1.46 (+56%), Quality Score 58/100, from 11 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 HIHO calculated?
We run Highway Holdings Limited through 11 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 $1.46, 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 13.2 % above its aggregate fair value. Highway Holdings Limited currently trades 56 % 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 Highway Holdings Limited (HIHO)?
The closing price on Sep 23, 2026 was $0.9350. Our model-based fair value is $1.46, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Highway Holdings Limited right now?
The price is below even our cautious bear case ($1.46). 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 (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Highway Holdings Limited
How large is the market capitalisation of Highway Holdings Limited (HIHO)?
The market capitalisation of Highway Holdings Limited is $4.1M. 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 Highway Holdings Limited (HIHO)?
The price-to-sales ratio of Highway Holdings Limited is 0.69 (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 Highway Holdings Limited (HIHO)?
Earnings per share at Highway Holdings Limited are $−0.1700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Highway Holdings Limited (HIHO)?
The dividend yield of Highway Holdings Limited is 13.4%. 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 Highway Holdings Limited (HIHO)?
The net margin of Highway Holdings Limited is 1.4% (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 Highway Holdings Limited (HIHO)?
The return on equity (ROE) of Highway Holdings Limited is −12.3% (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 Highway Holdings Limited (HIHO)?
On an EBIT basis the return on assets of Highway Holdings Limited is −3.2% (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 Highway Holdings Limited (HIHO)?
The operating margin of Highway Holdings Limited is −42.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Highway Holdings Limited (HIHO)?
Revenue at Highway Holdings Limited is growing −40.5% versus a year earlier (3y avg −15.7%). 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 Highway Holdings Limited (HIHO)?
Earnings per share at Highway Holdings Limited are growing −50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Highway Holdings Limited (HIHO) generate?
The free cash flow of Highway Holdings Limited is −$461K (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 Highway Holdings Limited (HIHO) hold?
Highway Holdings Limited holds more cash than debt, $5.2M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 23, 2026