Kingboard Chemical Holdings Ltd (KBDCY) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Kingboard Chemical Holdings Ltd $27.87, price $36.10, upside -22.8%, quality 51 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 24, 2026.
How to read this chart
60‑month range $7.15 – $80.45 · fair‑value band $14.36 – $43.91 · the $36.10 price screens above the $27.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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 Chemical Holdings Ltd ADR (KBDCY) currently trades at $36.10, while our model-based Fair Value estimate is $27.87, implying the stock looks roughly 29.5% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $246.78 per share, and 13 of the 13 models we run sit above the $36.10 price.
Bear case: the Growth DCF group reads lowest at $77.21, and 0 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: $14.36 (bear) to $43.91 (bull), the price of $36.10 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 51/100 (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.
Kingboard Chemical Holdings Ltd ADR reported revenue of HK$45.3B in FY2025 versus HK$56.8B in FY2021, a compound −5.5%/yr. Reported net income was HK$4.4B in FY2025, compounding −20.1%/yr from FY2021.
Key figures
Market cap $17.0B · P/E ratio 30.3 · P/S ratio 2.94 · EPS (TTM) $2.53 · Dividend yield 1.5% · 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 43 out of 100 (low confidence).
What moves the price
The share trades about 55% below its 52-week high and 155% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 38% fair-value upside, at −23%, KBDCY screens richer than that median.
Fair Value models
Bear $14.36Fair Value $27.87Bull $43.91
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 ($0.5340 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.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.39/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.1%
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.
≈ −13.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.9%
Dividend (yield on the price)1.5%
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% vs 5%, 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.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+39.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in HKD, Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about +36.4% a year for the price.
Compare Kingboard Chemical Holdings Ltd ADR 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.Conglomerates · 378 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Above median
Fair Value upside−23% · Below median
Profitability
Return on equity (TTM)8% · Above median
Return on assets3% · Above median
Net margin (TTM)10% · Above median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth5% · Above median
Dividend yield (TTM)1.5% · Below median
Balance sheet
Debt / equity0.17× · Below median
Valuation Multiplesvs Conglomerates median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kingboard Chemical Holdings Ltd ADR Fair Value". https://www.fairvalue-calculator.com/stock/KBDCY
Frequently asked questions
Is Kingboard Chemical Holdings Ltd (KBDCY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $27.87 versus a price of $36.10, about −23% upside (overvalued).
What is the fair value of KBDCY?
Our model-based fair value for Kingboard Chemical Holdings Ltd ADR is $27.87 (as of Sep 24, 2026), built from audited fundamentals. The current price: $36.10.
What is the quality score of KBDCY?
Kingboard Chemical Holdings Ltd ADR has a Quality Score of 51/100. 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 Chemical Holdings Ltd (KBDCY)?
Our model-based price target is the fair value of $27.87 (as of Sep 24, 2026) from 13 valuation models. Cautious scenario $14.36, optimistic scenario $43.91. It is a calculation from audited fundamentals, not an analyst target.
What is the Kingboard Chemical Holdings Ltd ADR stock forecast for 2026?
Our models put fair value at $27.87, about −23% upside versus a price of $36.10 (overvalued). Cautious scenario $14.36, optimistic scenario $43.91. The calculation is refreshed regularly with new filings.
What is the revenue of Kingboard Chemical Holdings Ltd (KBDCY)?
Kingboard Chemical Holdings Ltd ADR reported trailing-twelve-month revenue of about HK$45.4B (latest available figure, as of Sep 24, 2026).
Does Kingboard Chemical Holdings Ltd ADR pay a dividend?
Kingboard Chemical Holdings Ltd ADR currently shows a dividend yield of about 1.50% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Kingboard Chemical Holdings Ltd (KBDCY)?
For today's price to be fair in a discounted-cash-flow model, Kingboard Chemical Holdings Ltd ADR would have to grow free cash flow by +39.3 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of KBDCY use?
Our models discount Kingboard Chemical Holdings Ltd ADR at 9.9 %: a base by market capitalisation (large), damped by beta 1.28, 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 Kingboard Chemical Holdings Ltd ADR that is +39.3 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Kingboard Chemical Holdings Ltd (KBDCY) delivered so far?
Over the past 5 years revenue at Kingboard Chemical Holdings Ltd ADR grew +0.8 % a year. The price currently implies +39.3 % 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 Kingboard Chemical Holdings Ltd (KBDCY) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Kingboard Chemical Holdings Ltd ADR (+39.3 % 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 Kingboard Chemical Holdings Ltd (KBDCY)?
The free-cash-flow yield on the price is 1.31 %: that much free cash flow Kingboard Chemical Holdings Ltd ADR produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kingboard Chemical Holdings Ltd (KBDCY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kingboard Chemical Holdings Ltd ADR it is $27.87 per share (as of Sep 24, 2026), against a price of $36.10. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Kingboard Chemical Holdings Ltd ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KBDCY trades above its calculated fair value: price $36.10, fair value $27.87, a gap of about −23% (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 KBDCY?
No. The price is what the market pays today ($36.10); the fair value is what the company's own numbers justify ($27.87). For Kingboard Chemical Holdings Ltd ADR the two are $8.23 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kingboard Chemical Holdings Ltd ADR worth?
The market values Kingboard Chemical Holdings Ltd ADR at about $17.0B (market capitalisation, as of Sep 24, 2026). Per share that is $36.10; our models calculate a fair value of $27.87 per share.
What do the bullish and bearish scenarios say about KBDCY?
Our models span a range for Kingboard Chemical Holdings Ltd ADR: cautious scenario $14.36, base $27.87, optimistic $43.91 per share (as of Sep 24, 2026, price $36.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KBDCY?
Kingboard Chemical Holdings Ltd ADR trades at a price-to-earnings ratio of 30.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $27.87 is built from several models across several years. Other multiples: P/B 2.1, P/S 2.9, EV/EBITDA 21.6.
How solid is the balance sheet of Kingboard Chemical Holdings Ltd (KBDCY)?
Balance-sheet figures for Kingboard Chemical Holdings Ltd ADR (as of Sep 24, 2026): return on equity 7.6%, debt of 0.17 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is KBDCY from its 52-week high?
Kingboard Chemical Holdings Ltd ADR trades at $36.10, about 55% below its 52-week high of $80.45 and 155% above the low of $14.13 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $27.87 is for.
Which stocks are comparable to Kingboard Chemical Holdings Ltd ADR?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Poste Italiane S.p.A, 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 Chemical Holdings Ltd ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $36.10, calculated fair value $27.87 (−23%), Quality Score 51/100, from 13 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 KBDCY calculated?
We run Kingboard Chemical Holdings Ltd ADR through 13 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 $27.87, 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 14.1 % above its aggregate fair value. Kingboard Chemical 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 Kingboard Chemical Holdings Ltd (KBDCY)?
The closing price on Sep 23, 2026 was $36.10. Our model-based fair value is $27.87, about −23% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kingboard Chemical Holdings Ltd ADR right now?
The model range is unusually wide ($14.36 to $43.91). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of Kingboard Chemical Holdings Ltd (KBDCY) come from?
Earnings per share at Kingboard Chemical Holdings Ltd ADR 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 Chemical Holdings Ltd ADR
How large is the market capitalisation of Kingboard Chemical Holdings Ltd (KBDCY)?
The market capitalisation of Kingboard Chemical Holdings Ltd ADR is $17.0B. 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 Chemical Holdings Ltd (KBDCY)?
The price-to-sales ratio of Kingboard Chemical Holdings Ltd ADR is 2.94 (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 Chemical Holdings Ltd (KBDCY)?
Earnings per share at Kingboard Chemical Holdings Ltd ADR are $2.53 (price ÷ EPS = P/E 30.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kingboard Chemical Holdings Ltd (KBDCY)?
The dividend yield of Kingboard Chemical Holdings Ltd ADR is 1.5% (payout 21.4%). 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 Kingboard Chemical Holdings Ltd (KBDCY)?
The net margin of Kingboard Chemical Holdings Ltd ADR 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 Chemical Holdings Ltd (KBDCY)?
The return on equity (ROE) of Kingboard Chemical Holdings Ltd ADR 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 Chemical Holdings Ltd (KBDCY)?
On an EBIT basis the return on assets of Kingboard Chemical Holdings Ltd ADR 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 Chemical Holdings Ltd (KBDCY)?
The operating margin of Kingboard Chemical Holdings Ltd ADR 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 Chemical Holdings Ltd (KBDCY)?
Revenue at Kingboard Chemical Holdings Ltd ADR 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 Chemical Holdings Ltd (KBDCY)?
Earnings per share at Kingboard Chemical Holdings Ltd ADR are growing +13.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kingboard Chemical Holdings Ltd (KBDCY) carry?
The net debt of Kingboard Chemical Holdings Ltd ADR is HK$19.3B (fiscal year 2025, ≈ 23.5 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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Broad data
Sep 24, 2026