Hong Kong Land Holdings Ltd (HNGKY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Hong Kong Land Holdings Ltd $7.55, price $40.45, upside -81.3%, quality 62 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 Oct 3, 2026.
How to read this chart
60‑month range $12.88 – $44.80 · fair‑value band $7.55 – $12.14 · the $40.45 price screens above the $7.55 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 Oct 3, 2026.
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Hongkong Land Holdings Limited, together with its subsidiaries, engages in the investment, development, and management of properties in Hong Kong, Macau, Mainland China, Southeast Asia, and internationally. It operates through two segments: Prime Properties Investment and Build-to-Sell.
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Hongkong Land Holdings Limited, together with its subsidiaries, engages in the investment, development, and management of properties in Hong Kong, Macau, Mainland China, Southeast Asia, and internationally. It operates through two segments: Prime Properties Investment and Build-to-Sell. The company owns and manages mixed-use real estate, including offices, luxury retail, residential, and hospitality products in Hong Kong, Singapore, and Shanghai. It is also involved in hotel investment, finance, and project management businesses. The company was founded in 1889 and is based in Hamilton, Bermuda. Hongkong Land Holdings Limited is a subsidiary of Jardine Strategic Limited.
Stock analysis
Hong Kong Land Holdings Ltd ADR (HNGKY) currently trades at $40.45, while our model-based Fair Value estimate is $7.55, 81.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $53.89 per share, and 3 of the 16 models we run sit above the $40.45 price.
Bear case: the Growth DCF group reads lowest at $4.36, and 13 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: $7.55 (bear) to $12.14 (bull), the price of $40.45 sits above 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 62/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Hong Kong Land Holdings Ltd ADR reported revenue of $1.5B in FY2025 versus $2.4B in FY2021, a compound −11.1%/yr. Reported net income was $1.3B in FY2025.
Key figures
Market cap $17.7B · P/E ratio 14.0 · P/S ratio 11.9 · EPS (TTM) $2.88 · Dividend yield 3.6% · Net margin 85.0% · Return on equity 4.2% · Return on assets (EBIT) −0.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at −81%, HNGKY screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($1.75 to $53.89). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear $7.55Fair Value $7.55Bull $12.14
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 9 months old). Earnings retained since then ($1.99 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.
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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−25.7%
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.
−12.8%
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.
−6.6%
Start year 2020 (pandemic). Over 10 years: −2.6% 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.
+4.0%
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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.
+50.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+46.7%
Dividend (yield on the price)3.6%
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.46.7% vs −3.9%, picking up
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.−119% → 21%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +19.1% a year for the price and −2.0% for the forecasts.
Compare Hong Kong Land Holdings Ltd ADR with another stock
Price, fair value, quality and upside side by side.
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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.Real Estate - Development · 575 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside−81.1% · Bottom 25%
Profitability
Return on equity (TTM)4.2% · Above median
Return on assets0.5% · Below median
Net margin (TTM)87.2% · Top 25%
Operating margin (TTM)2.2% · Below median
Growth and dividend
Revenue growth−32.3% · Below median
Dividend yield (TTM)3.6% · Above median
Balance sheet
Debt / equity0.19× · Below median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
P/E (TTM)14.0× · Pricier than median
P/B0.59× · Cheaper than median
P/S (TTM)12.47× · Priciest 25%
P/FCF43.0× · Priciest 25%
EV/EBITDA66.3× · Priciest 25%
PEG0.94× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 70
FUTURE (revenue growth)0· sector 0
PAST (return on equity)17· sector 11
HEALTH (low debt)91· sector 84
DIVIDEND (yield)71· sector 58
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Hong Kong Land Holdings Ltd ADR Fair Value". https://www.fairvalue-calculator.com/stock/HNGKY
Frequently asked questions
Is Hong Kong Land Holdings Ltd (HNGKY) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $7.55 versus a price of $40.45, about −81% upside (overvalued).
What is the fair value of HNGKY?
Our model-based fair value for Hong Kong Land Holdings Ltd ADR is $7.55 (as of Oct 3, 2026), built from audited fundamentals. The current price: $40.45.
What is the quality score of HNGKY?
Hong Kong Land Holdings Ltd ADR has a Quality Score of 62/100. 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 Hong Kong Land Holdings Ltd (HNGKY)?
Our model-based price target is the fair value of $7.55 (as of Oct 3, 2026) from 16 valuation models. Cautious scenario $7.55, optimistic scenario $12.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Hong Kong Land Holdings Ltd ADR stock forecast for 2026?
Our models put fair value at $7.55, about −81% upside versus a price of $40.45 (overvalued). Cautious scenario $7.55, optimistic scenario $12.14. The calculation is refreshed regularly with new filings.
What is the revenue of Hong Kong Land Holdings Ltd (HNGKY)?
Hong Kong Land Holdings Ltd ADR reported trailing-twelve-month revenue of about $1.4B (latest available figure, as of Oct 3, 2026).
Does Hong Kong Land Holdings Ltd ADR pay a dividend?
Hong Kong Land Holdings Ltd ADR currently shows a dividend yield of about 3.56% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Hong Kong Land Holdings Ltd (HNGKY)?
For today's price to be fair in a discounted-cash-flow model, Hong Kong Land Holdings Ltd ADR would have to grow free cash flow by +21.9 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.6 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of HNGKY use?
Our models discount Hong Kong Land Holdings Ltd ADR at 8.1 %: a base by market capitalisation (large), damped by beta 0.34, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hong Kong Land Holdings Ltd ADR that is +21.9 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Hong Kong Land Holdings Ltd (HNGKY) delivered so far?
Over the past 5 years revenue at Hong Kong Land Holdings Ltd ADR grew -6.6 % a year. The price currently implies +21.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hong Kong Land Holdings Ltd (HNGKY) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Hong Kong Land Holdings Ltd ADR (+21.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hong Kong Land Holdings Ltd (HNGKY)?
The free-cash-flow yield on the price is 2.37 %: that much free cash flow Hong Kong Land Holdings Ltd ADR produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hong Kong Land Holdings Ltd (HNGKY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hong Kong Land Holdings Ltd ADR it is $7.55 per share (as of Oct 3, 2026), against a price of $40.45. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Hong Kong Land Holdings Ltd ADR stock overvalued or undervalued in 2026?
As of Oct 3, 2026, HNGKY trades above its calculated fair value: price $40.45, fair value $7.55, a gap of about −81% (overvalued). 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 HNGKY?
No. The price is what the market pays today ($40.45); the fair value is what the company's own numbers justify ($7.55). For Hong Kong Land Holdings Ltd ADR the two are $32.90 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hong Kong Land Holdings Ltd ADR worth?
The market values Hong Kong Land Holdings Ltd ADR at about $17.7B (market capitalisation, as of Oct 3, 2026). Per share that is $40.45; our models calculate a fair value of $7.55 per share.
What do the bullish and bearish scenarios say about HNGKY?
Our models span a range for Hong Kong Land Holdings Ltd ADR: cautious scenario $7.55, base $7.55, optimistic $12.14 per share (as of Oct 3, 2026, price $40.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HNGKY?
Hong Kong Land Holdings Ltd ADR trades at a price-to-earnings ratio of 14.0 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $7.55 is built from several models across several years. Other multiples: PEG 0.9, P/B 0.6, P/S 12.5, EV/EBITDA 66.3.
What is the PEG ratio of HNGKY?
The PEG ratio of Hong Kong Land Holdings Ltd ADR is 0.94 (P/E divided by earnings growth, as of Oct 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Hong Kong Land Holdings Ltd (HNGKY)?
Balance-sheet figures for Hong Kong Land Holdings Ltd ADR (as of Oct 3, 2026): return on equity 4.2%, debt of 0.19 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is HNGKY from its 52-week high?
Hong Kong Land Holdings Ltd ADR trades at $40.45, about 10% below its 52-week high of $44.80 and 38% above the low of $29.31 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $7.55 is for.
Which stocks are comparable to Hong Kong Land Holdings Ltd ADR?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, DLF 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 Hong Kong Land Holdings Ltd ADR stock attractive at the current price?
The data as of Oct 3, 2026: price $40.45, calculated fair value $7.55 (−81%), Quality Score 62/100, from 16 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 HNGKY calculated?
We run Hong Kong Land Holdings Ltd ADR through 16 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 $7.55, 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. Hong Kong Land Holdings Ltd ADR 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 Hong Kong Land Holdings Ltd (HNGKY)?
The closing price on Oct 2, 2026 was $40.45. Our model-based fair value is $7.55, about −81% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hong Kong Land Holdings Ltd ADR right now?
The price sits above even our optimistic bull case ($12.14). The favourable scenario is already priced in. 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 but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Hong Kong Land Holdings Ltd ADR
How large is the market capitalisation of Hong Kong Land Holdings Ltd (HNGKY)?
The market capitalisation of Hong Kong Land Holdings Ltd ADR is $17.7B. 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 Hong Kong Land Holdings Ltd (HNGKY)?
The price-to-sales ratio of Hong Kong Land Holdings Ltd ADR is 11.9 (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 Hong Kong Land Holdings Ltd (HNGKY)?
Earnings per share at Hong Kong Land Holdings Ltd ADR are $2.88 (price ÷ EPS = P/E 14.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hong Kong Land Holdings Ltd (HNGKY)?
The dividend yield of Hong Kong Land Holdings Ltd ADR is 3.6% (payout 50.0%). 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 Hong Kong Land Holdings Ltd (HNGKY)?
The net margin of Hong Kong Land Holdings Ltd ADR is 85.0% (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 Hong Kong Land Holdings Ltd (HNGKY)?
The return on equity (ROE) of Hong Kong Land Holdings Ltd ADR is 4.2% (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 Hong Kong Land Holdings Ltd (HNGKY)?
On an EBIT basis the return on assets of Hong Kong Land Holdings Ltd ADR is −0.8% (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 Hong Kong Land Holdings Ltd (HNGKY)?
The operating margin of Hong Kong Land Holdings Ltd ADR is 2.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hong Kong Land Holdings Ltd (HNGKY)?
Revenue at Hong Kong Land Holdings Ltd ADR is growing −32.3% versus a year earlier (3y avg −12.8%). 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 Hong Kong Land Holdings Ltd (HNGKY)?
Earnings per share at Hong Kong Land Holdings Ltd ADR are growing −63.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hong Kong Land Holdings Ltd (HNGKY) carry?
The net debt of Hong Kong Land Holdings Ltd ADR is $3.6B (fiscal year 2025, ≈ 8.5 yrs of FCF). 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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Thin data
Oct 3, 2026