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h JD HK SDR 10to1 (HJDD) Fair Value & Analysis

Consumer Cyclical · SG · Market cap 4.6B SGD

HJ h JD HK SDR 10to1 HJDD · SG
Price1.86 SGD
Fair Value1.22 SGD
Upside-34.7%
Quality57/100
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Expensive Growth
Thin margins · 1.1% net margin
Low debt · generates free cash flow
3.75% dividend yield
Mixed vs. peers (7/12)
Narrow moat 20/100
Evidence: Medium Range 1.09 SGD – 1.74 SGD Share as image

Fair value as of: Aug 13, 2026

From 23 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from 1.26 SGD to 1.22 SGD (−3.5%) since Aug 9, 2026. Share price −2.6% over the past month.

A solid business, but screening 35% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.74 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (14 months)

2.30 SGD 1.55 SGD Fair Value 1.22 SGD Jun 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.

How to read this chart

14‑month range 1.55 SGD – 2.30 SGD · fair‑value band 1.09 SGD – 1.74 SGD · the 1.86 SGD price screens above the 1.22 SGD fair value. As of Aug 13, 2026.

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Analysis

h JD HK SDR 10to1 (HJDD) currently trades at 1.86 SGD, while our model-based Fair Value estimate is 1.22 SGD, implying the stock looks roughly 34.7% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, h JD HK SDR 10to1 generated revenue of 1.3T SGD at a net margin of 1.1%. Revenue grew 4.9% year over year. It earns a return on equity of 6.0%. The stock trades on a trailing P/E of 2.1. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.09 SGD (bear case) to 1.74 SGD (bull case); at 1.86 SGD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 19% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -56% fair-value upside, at -35%, HJDD screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Growth DCF 0.7639 SGD 0.9477 SGD 1.22 SGD 80
ROIC Compounder 0.5996 SGD 0.6243 SGD 0.6457 SGD 72
Growth-Adj P/E 1.31 SGD 1.88 SGD 2.44 SGD 68
All 23 models by family
DCF Models
FCF DCF 0.7618 SGD 0.9519 SGD 1.24 SGD 38
Owner Earnings 1.45 SGD 2.05 SGD 2.97 SGD 31
5Y Revenue Exit 0.6790 SGD 0.8095 SGD 0.9761 SGD 39
5Y EBITDA Exit 0.9707 SGD 1.37 SGD 1.85 SGD 41
5Y P/E Exit 1.67 SGD 2.72 SGD 3.86 SGD 38
10Y Revenue Exit 0.7003 SGD 0.8273 SGD 1.00 SGD 36
10Y EBITDA Exit 0.8903 SGD 1.22 SGD 1.67 SGD 37
10Y P/E Exit 1.33 SGD 2.14 SGD 3.22 SGD 35
Earnings-Based
Graham-Dodd 0.7885 SGD 2.83 SGD 3.82 SGD 54
Lynch FV 0.6688 SGD 0.9555 SGD 1.24 SGD 50
PEG = 1.0 0.6688 SGD 0.9555 SGD 1.24 SGD 46
EPV 0.5996 SGD 0.6243 SGD 0.6457 SGD 59
Multiples
P/E Multiple 1.91 SGD 2.55 SGD 3.19 SGD 63
P/S Multiple 1.48 SGD 1.97 SGD 2.46 SGD 58
P/B Multiple 1.48 SGD 1.97 SGD 2.46 SGD 55
EV/EBIT 0.7374 SGD 0.8354 SGD 0.9335 SGD 53
EV/EBITDA 1.16 SGD 1.40 SGD 1.63 SGD 54
EV/Revenue 0.6415 SGD 0.7264 SGD 0.8115 SGD 43
Asset-Based
NCAV (Graham) 0.6647 SGD 0.8906 SGD 1.33 SGD 50
Growth DCF
Growth DCF 0.7639 SGD 0.9477 SGD 1.22 SGD 80
Economic Profit
Residual Income 1.11 SGD 1.20 SGD 1.45 SGD 61
ROIC Compounder 0.5996 SGD 0.6243 SGD 0.6457 SGD 72
Growth Earnings
Growth-Adj P/E 1.31 SGD 1.88 SGD 2.44 SGD 68

Widest divergence: Growth Earnings (1.88 SGD) versus Economic Profit (0.6243 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.3T SGD
Revenue growth (YoY) +4.9%
Net margin 1.1%
Return on equity 6.0%
Free cash flow 4.8B SGD FY2025
P/E ratio 2.1
More key figures
Operating margin 1.2%
EPS (TTM) 0.8800 SGD
Dividend yield 3.8%
EPS growth (YoY) -50.7%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 51

Profitability 49
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 17
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

JD.com, Inc. operates as a supply chain-based technology and service provider in the People's Republic of China and Europe. It operates through three segments: JD Retail, JD Logistics, and New Businesses.

Full company description

JD.com, Inc. operates as a supply chain-based technology and service provider in the People's Republic of China and Europe. It operates through three segments: JD Retail, JD Logistics, and New Businesses. The company provides home appliances; mobile handsets and other digital products; computers, including desktop, laptop, and other various products, as well as printers and other office equipment; furniture and household goods; apparel; cosmetics and other personal care items; and pet products. It offers women's shoes, bags, watches, jewelry, and luxury goods; men's shoes, sports gear, and fitness equipment; automobiles and accessories; maternal and childcare products; toys and musical instruments; food, beverages, and fresh produce; gifts, flowers, and plants; and pharmaceutical and healthcare products, such as OCT pharmaceutical products, nutritional supplements, healthcare services, and other healthcare equipment. In addition, the company provides books, e-books, music, movies, and other media products; virtual goods consisting of online travel agency, attraction tickets, and prepaid phone cards and game cards; industrial products; and installation and maintenance services. Further, it offers online marketplace services for third-party merchants; marketing services; and omni-channel solutions to customers and offline retailers, as well as online healthcare services. Additionally, the company develops, owns, and manages its logistics facilities and other real estate properties to support third parties; and offers asset management services and integrated service platform; leasing of storage facilities and related management services, as well as engages in online retail business; technology-driven supply chain solutions; and logistics services. The company was formerly known as 360buy Jingdong Inc. and changed its name to JD.com, Inc. in January 2014. JD.com, Inc. was incorporated in 2006 and is headquartered in Beijing, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

h JD HK SDR 10to1 reported revenue of 1.3T SGD in FY2025 versus 952B SGD in FY2021, a compound +8.3%/yr. Reported net income was 19.6B SGD in FY2025.

Growth Quality 56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.3T SGD
Latest YoY
+13.0%
Avg. growth/yr (3Y) 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.
+7.8%
Revenue +8.3%/yr
FY21 952B SGD
FY22 1.0T SGD
FY23 1.1T SGD
FY24 1.2T SGD
FY25 1.3T SGD
Net income
FY21 −3.6B SGD
FY22 10.4B SGD
FY23 24.2B SGD
FY24 41.4B SGD
FY25 19.6B SGD

HJDD screens 35% overvalued. Compare with Amazon.com, Inc →

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Cite: Fair Value Calculator (2026). "h JD HK SDR 10to1 Fair Value". https://www.fairvalue-calculator.com/stock/HJDD

Peer Group

Internet Retail · 109 stocks

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.

Quality Score 57 · Above median
Fair Value upside −34% · Below median
Return on equity (TTM) 6% · Above median
Return on assets -0% · Below median
Net margin (TTM) 1% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 5% · Below median
Dividend yield (TTM) 3.8% · Above median
Debt / equity 0.28× · Higher than median

Valuation Multiples vs Internet Retail median · lower = cheaper

P/E (TTM) 2.1× · Cheaper than 75% of peers
P/FCF 0.8× · Cheaper than median
PEG 0.07× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 37
FUTURE 25 · sector 51
PAST 24 · sector 10
HEALTH 86 · sector 95
DIVIDEND 75 · sector 38

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Internet Retail stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Amazon.com, Inc 1AMZN €231.35 €79.98 -65%
Alibaba Group BABA $125.22 $76.00 -39%
PDD Holdings PDD $89.04 $224.27 +152%
MercadoLibre, Inc MELI $1,828 $798.98 -56%
DoorDash, Inc DASH $212.00 $38.64 -82%
Sea Limited SE $128.11 $52.70 -59%
eBay Inc EBAY $102.31 $60.13 -41%
JD.com, Inc JD €27.00 €31.73 +18%
Coupang, Inc CPNG $16.32 $2.79 -83%
Delivery Hero SE DHER €37.04 €12.71 -66%

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Frequently asked questions

Is h JD HK SDR 10to1 (HJDD) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.22 SGD versus a price of 1.86 SGD, about −35% (overvalued).
What is the fair value of HJDD?
Our model-based fair value for h JD HK SDR 10to1 is 1.22 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 1.86 SGD.
What is the quality score of HJDD?
h JD HK SDR 10to1 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 revenue of h JD HK SDR 10to1 (HJDD)?
h JD HK SDR 10to1 reported trailing-twelve-month revenue of about 1.3T SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HJDD?
The net profit margin of h JD HK SDR 10to1 is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. Based on the latest reported figures.
Does h JD HK SDR 10to1 pay a dividend?
h JD HK SDR 10to1 currently shows a dividend yield of about 3.75% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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