Kingboard Holdings (KBDCF) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Kingboard Holdings $9.24, price $6.31, upside +46.6%, quality 50 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. As of Oct 1, 2026.
How to read this chart
60‑month range $0.6176 – $15.80 · fair‑value band $5.88 – $12.10 · the $6.31 price screens below the $9.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 1, 2026.
Kingboard Holdings Limited, an investment holding company, manufactures and sells laminates, printed circuit boards (PCBs), magnetic products, and chemicals in the People's Republic of China, Europe, Africa, the United States, and Other Asian countries.
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Kingboard Holdings Limited, an investment holding company, manufactures and sells laminates, printed circuit boards (PCBs), magnetic products, and chemicals in the People's Republic of China, Europe, Africa, the United States, and Other Asian countries. It operates through six segments: laminates, printed circuit boards (PCBs), chemicals, properties, investments, and others. The laminates segment offers PVB, epoxy resin, glass fabric, kraft paper for copper clad laminate, and electronic grade yarn. The PCBs segment offers single, double, multi-layer, and high density interconnect PCBs to the electronic manufacturers. The chemicals segment provides methanol, glacial acetic acid, MTBE, phenol, bisphenol A, PVC, liquefied chlorine, sodium sulfate, hydrogen peroxide, benzene, propylene, LPG, acetone, caustic soda, hydrochloric acid, chlorinated wax-52, formalin, and tetrabromobisphenol. The properties segment involved in property development and property rental business. The investments segment invests in debt instruments at FVTOCI, and equity instruments at FVTPL. The other segment engages in the manufacture and sale of magnetic products, and hotel business. The company was formerly known as Kingboard Chemical Holdings Limited and changed its name to Kingboard Holdings Limited in July 2018. Kingboard Holdings Limited was founded in 1988 and is headquartered in Sha Tin, Hong Kong.
Stock analysis
Kingboard Holdings (KBDCF) currently trades at $6.31, while our model-based Fair Value estimate is $9.24, implying the stock looks roughly 31.8% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $8.60 per share, and 3 of the 9 models we run sit above the $6.31 price.
Bear case: the Dividend Discount group reads lowest at $2.49, and 6 of the 9 models stay below the price. Evidence for this calculation is medium.
Scenario range: $5.88 (bear) to $12.10 (bull), the price of $6.31 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 50/100 (below-average 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.
Kingboard Holdings reported revenue of HK$45.4B in FY2025 versus HK$56.8B in FY2021, a compound −5.4%/yr. Reported net income was HK$4.4B in FY2025, compounding −20.1%/yr from FY2021.
Key figures
Market cap $16.6B · P/E ratio 29.4 · P/S ratio 2.85 · EPS (TTM) $0.5100 · Dividend yield 12.0% · Net margin 9.7% · Return on equity 7.6% · Return on assets (EBIT) 7.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
For context, the median of 10 Industrials peers we cover trades at −16% fair-value upside, at 47%, KBDCF screens cheaper than that median.
Fair Value models
Bear $5.88Fair Value $9.24Bull $12.10
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.27/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.3%
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.
−2.8%
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.
+0.8%
Start year 2020 (pandemic). Over 10 years: +3.3% a year
Revenue growth 22 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.
+11.1%
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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: EBIT basis.
≈ −2.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.9%
Dividend (yield on the price)12.0%
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.−1.4% vs 4.8%, 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.21% → 9%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 113% above its own trend.
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.Conglomerates · 358 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−34.5% · Below median
Profitability
Return on equity (TTM)7.6% · Above median
Return on assets2.6% · Above median
Net margin (TTM)9.7% · Above median
Operating margin (TTM)7.4% · Above median
Growth and dividend
Revenue growth4.8% · Below median
Dividend yield (TTM)12.0% · Top 25%
Balance sheet
Debt / equity0.17× · Below median
Valuation Multiplesvs Conglomerates median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kingboard Holdings Fair Value". https://www.fairvalue-calculator.com/stock/KBDCF
Frequently asked questions
Is Kingboard Holdings (KBDCF) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of $9.24 versus the last price from Sep 25, 2026 of $6.31, about +47% upside (undervalued).
What is the fair value of KBDCF?
Our model-based fair value for Kingboard Holdings is $9.24 (as of Oct 1, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $6.31.
What is the quality score of KBDCF?
Kingboard Holdings has a Quality Score of 50/100. 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 Kingboard Holdings (KBDCF)?
Our model-based price target is the fair value of $9.24 (as of Oct 1, 2026) from 9 valuation models. Cautious scenario $5.88, optimistic scenario $12.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Kingboard Holdings stock forecast for 2026?
Our models put fair value at $9.24, about +47% upside versus the last price from Sep 25, 2026 of $6.31 (undervalued). Cautious scenario $5.88, optimistic scenario $12.10. The calculation is refreshed regularly with new filings.
What is the revenue of Kingboard Holdings (KBDCF)?
Kingboard Holdings reported trailing-twelve-month revenue of about HK$45.4B (latest available figure, as of Oct 1, 2026).
Does Kingboard Holdings pay a dividend?
Kingboard Holdings currently shows a dividend yield of about 12.00% relative to its recent price (as of Oct 1, 2026).
What is the intrinsic value of Kingboard Holdings (KBDCF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kingboard Holdings it is $9.24 per share (as of Oct 1, 2026), against a price of $6.31. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Kingboard Holdings stock overvalued or undervalued in 2026?
As of Oct 1, 2026, KBDCF trades below its calculated fair value: price $6.31, fair value $9.24, a gap of about +47% (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 KBDCF?
No. The price is what the market pays today ($6.31); the fair value is what the company's own numbers justify ($9.24). For Kingboard Holdings the two are $2.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kingboard Holdings worth?
The market values Kingboard Holdings at about $16.6B (market capitalisation, as of Oct 1, 2026). Per share that is $6.31; our models calculate a fair value of $9.24 per share.
What do the bullish and bearish scenarios say about KBDCF?
Our models span a range for Kingboard Holdings: cautious scenario $5.88, base $9.24, optimistic $12.10 per share (as of Oct 1, 2026, price $6.31). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KBDCF?
Kingboard Holdings trades at a price-to-earnings ratio of 29.4 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $9.24 is built from several models across several years.
How solid is the balance sheet of Kingboard Holdings (KBDCF)?
Balance-sheet figures for Kingboard Holdings (as of Oct 1, 2026): return on equity 7.6%, debt of 0.17 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
Which stocks are comparable to Kingboard Holdings?
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 Kingboard Holdings stock attractive at the current price?
The data as of Oct 1, 2026: price $6.31, calculated fair value $9.24 (+47%), Quality Score 50/100, from 9 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 KBDCF calculated?
We run Kingboard Holdings through 9 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 $9.24, 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. Kingboard Holdings currently trades 32 % 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 Kingboard Holdings (KBDCF)?
The latest price we hold is from Sep 25, 2026 and stands at $6.31. Our model-based fair value is $9.24, about +47% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kingboard Holdings right now?
Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($5.88 to $12.10) leaves room in how you read the outcome.
Where does the earnings growth of Kingboard Holdings (KBDCF) come from?
Earnings per share at Kingboard Holdings grew −2.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.4 %, EBIT margin +0.7 %, tax rate +0.4 %, residual (interest, one-offs) −4.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Kingboard Holdings
How large is the market capitalisation of Kingboard Holdings (KBDCF)?
The market capitalisation of Kingboard Holdings is $16.6B. 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 Kingboard Holdings (KBDCF)?
The price-to-sales ratio of Kingboard Holdings is 2.85 (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 Kingboard Holdings (KBDCF)?
Earnings per share at Kingboard Holdings are $0.5100 (price ÷ EPS = P/E 29.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kingboard Holdings (KBDCF)?
The dividend yield of Kingboard Holdings is 12.0% (payout 148%). 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 Kingboard Holdings (KBDCF)?
The net margin of Kingboard Holdings is 9.7% (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 Kingboard Holdings (KBDCF)?
The return on equity (ROE) of Kingboard Holdings is 7.6% (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 Kingboard Holdings (KBDCF)?
On an EBIT basis the return on assets of Kingboard Holdings is 7.5% (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 Kingboard Holdings (KBDCF)?
The operating margin of Kingboard Holdings is 7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kingboard Holdings (KBDCF)?
Revenue at Kingboard Holdings is growing +4.8% versus a year earlier (3y avg −2.8%). 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 Kingboard Holdings (KBDCF)?
Earnings per share at Kingboard Holdings are growing +13.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kingboard Holdings (KBDCF) generate?
The free cash flow of Kingboard Holdings is −HK$954M (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 Kingboard Holdings (KBDCF) carry?
The net debt of Kingboard Holdings is HK$19.3B (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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Oct 1, 2026