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Kerry Properties Limited (KRYPF) fair value: what the stock is really worth
As of Sep 15, 2026: fair value of Kerry Properties Limited $5.92, price $2.50, upside +136.8%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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KP
Some data
Sep 24, 2026
Some data
Sep 24, 2026
Kerry Properties Limited
KRYPF · USClearly undervaluedStrong Fair Value upside, but quality is only moderate.
✓Fair value $5.92 · Strongly undervalued (+136.8%)
✓Quality 60/100
✓Healthy Growth (revenue 5y +6.9 %/yr)
!Thin margins · 4.8% net margin (TTM)
✓Low debt · generates free cash flow
!Narrow moat 29/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
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 $0.2901 – $3.06 · fair‑value band $5.05 – $5.92 · the $2.50 price screens below the $5.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Kerry Properties Limited, an investment holding company, engages in the development, investment, management, and trading of properties in Hong Kong, Mainland China, and internationally.
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Kerry Properties Limited, an investment holding company, engages in the development, investment, management, and trading of properties in Hong Kong, Mainland China, and internationally. The company owns and operates residences, apartments, hotels, shopping malls, and office towers; real estate and project management; and provides integrated logistics and international freight forwarding, consultancy, administrative support, project management, financial, estate agency, and construction services. It is also involved in the warehouse operations, as well as recreation parks, and ice rinks. The company was founded in 1978 and is based in Quarry Bay, Hong Kong. Kerry Properties Limited operates as a subsidiary of Kerry Group Limited.
Stock analysis
Kerry Properties Limited (KRYPF) currently trades at $2.50, while our model-based Fair Value estimate is $5.92, implying the stock looks roughly 57.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $6.74 per share, and 10 of the 15 models we run sit above the $2.50 price.
Bear case: the Dividend Discount group reads lowest at $2.48, and 5 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: $5.05 (bear) to $5.92 (bull), the price of $2.50 sits below 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 60/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Kerry Properties Limited reported revenue of HK$20.3B in FY2025 versus HK$15.3B in FY2021, a compound +7.3%/yr. Reported net income was HK$938M in FY2025, compounding −45.1%/yr from FY2021.
Key figures
Market cap $4.4B · P/E ratio 31.3 · P/S ratio 1.44 · EPS (TTM) $0.0800 · Net margin 4.6% · Return on equity 1.1% · Return on assets (EBIT) 2.6% · Operating margin 17.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at 137%, KRYPF screens cheaper than that median.
Fair Value models
Bear $5.05
Fair Value $5.92
Bull $5.92
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.
Highest evidence
FCF DCF
$9.62
$16.31
$26.15
79
Growth DCF
$9.78
$15.64
$23.73
77
Residual Income
$6.26
$5.86
$5.63
76
All 15 models by family
DCF Models
FCF DCF
$9.62
$16.31
$26.15
79
5Y Revenue Exit
$2.41
$3.67
$5.05
73
5Y EBITDA Exit
$2.95
$4.69
$6.54
75
10Y Revenue Exit
$4.95
$6.74
$8.78
68
10Y EBITDA Exit
$5.33
$7.43
$9.89
69
Dividend Discount
Gordon GGM
$1.52
$3.02
$4.57
67
DDM Multi-Stage
$1.52
$2.48
$3.19
66
Multiples
P/S Multiple
$1.05
$1.40
$1.76
58
P/B Multiple
$1.05
$1.40
$1.76
55
EV/EBIT
n/a
$0.3000
$1.11
61
EV/EBITDA
n/a
$0.2400
>$0.9600
62
Asset-Based
NCAV (Graham)
$4.64
$6.21
$9.27
54
Growth DCF
Growth DCF
$9.78
$15.64
$23.73
77
Rev-Margin DCF
$2.22
$3.39
$4.64
73
Economic Profit
Residual Income
$6.26
$5.86
$5.63
76
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Set up alert →Quality Score breakdown
Overall quality
60/100
Of which business quality 62 · Market factors (momentum, volatility) 55
Profitability
15
Margins and returns on capital today
Quality Growth
32
Are margins and returns improving?
Cashflow
98
Earnings quality: real cash, not paper profit
Fin. Strength
53
Balance sheet, leverage, solvency risk
Investment
88
Disciplined investing over empire-building
Low Volatility
38
Calm price path (market factor)
Momentum
49
Price trend over the last 3–12 months (market factor)
52W Momentum
86
Distance to the 52-week high (market factor)
Net Issuance
100
Share count: buybacks or dilution?
Revenue & earnings trend
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.
73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.0%
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.
+11.6%
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.
+6.9%
Start year 2020 (pandemic). Over 10 years: +6.9% a year
Revenue growth 25 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.
+7.7%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
−15.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.5%
Dividend (yield on the price)0.0%
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.1.3% vs 1.1%, steady
Profit margin 2020 to 2024 ⓘ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.52% → 9%
2025 sits 166% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
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Earlier news
News mood ⓘNews mood, the average tone of recent news (7 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.
Positive
Recent news coverage is more positive than average.
- Kerry Properties (SEHK:683) Stock Looks Stretched Despite Its 63% Three Year Run
- Kerry Properties Ltd's Dividend Analysis
- Is Kerry Properties Running Ahead of Fundamentals After Recent 63% Share Price Surge?
- Only 4 Days Left To Cash In On Kerry Properties Limited's (HKG:683) Dividend
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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 · 577 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
Context: sector, industry, market
- Is the Real Estate sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Real Estate
- Undervalued stocks: US Stocks
- Valuation of the USA market
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
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Sun Hung Kai Properties Limited 0016 | HK$107.10 | HK$155.14 | +45% |
| China Resources Land Limited 1109 | HK$28.64 | HK$71.60 | +150% |
| CK Asset Holdings 1113 | HK$45.90 | HK$71.49 | +56% |
| Hongkong Land Holdings H78 | $8.57 | $1.52 | −82% |
| DLF Limited DLF | ₹658.40 | ₹167.48 | −75% |
| China Overseas Land & Investment Limited 0688 | HK$12.42 | HK$22.33 | +80% |
| Sino Land Company 0083 | HK$9.94 | HK$7.28 | −27% |
| Lodha Developers Limited LODHA | ₹1,165 | ₹274.14 | −76% |
| Poly Developments and Holdings 600048 | ¥5.77 | ¥5.87 | +2% |
| China Merchants Shekou Industrial Zone Holdings 001979 | ¥7.18 | ¥6.04 | −16% |
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Frequently asked questions
Is Kerry Properties Limited (KRYPF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $5.92 versus the last price from Sep 15, 2026 of $2.50, about +137% upside (undervalued).
What is the fair value of KRYPF?
Our model-based fair value for Kerry Properties Limited is $5.92 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 15, 2026): $2.50.
What is the quality score of KRYPF?
Kerry Properties Limited has a Quality Score of 60/100. 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 Kerry Properties Limited (KRYPF)?
Our model-based price target is the fair value of $5.92 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario $5.05, optimistic scenario $5.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Kerry Properties Limited stock forecast for 2026?
Our models put fair value at $5.92, about +137% upside versus the last price from Sep 15, 2026 of $2.50 (undervalued). Cautious scenario $5.05, optimistic scenario $5.92. The calculation is refreshed regularly with new filings.
What is the revenue of Kerry Properties Limited (KRYPF)?
Kerry Properties Limited reported trailing-twelve-month revenue of about HK$19.6B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Kerry Properties Limited (KRYPF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kerry Properties Limited it is $5.92 per share (as of Sep 24, 2026), against a price of $2.50. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Kerry Properties Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KRYPF trades below its calculated fair value: price $2.50, fair value $5.92, a gap of about +137% (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 KRYPF?
No. The price is what the market pays today ($2.50); the fair value is what the company's own numbers justify ($5.92). For Kerry Properties Limited the two are $3.42 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kerry Properties Limited worth?
The market values Kerry Properties Limited at about $4.4B (market capitalisation, as of Sep 24, 2026). Per share that is $2.50; our models calculate a fair value of $5.92 per share.
What do the bullish and bearish scenarios say about KRYPF?
Our models span a range for Kerry Properties Limited: cautious scenario $5.05, base $5.92, optimistic $5.92 per share (as of Sep 24, 2026, price $2.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KRYPF?
Kerry Properties Limited trades at a price-to-earnings ratio of 31.3 (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 $5.92 is built from several models across several years. Other multiples: PEG 1.7.
What is the PEG ratio of KRYPF?
The PEG ratio of Kerry Properties Limited is 1.67 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kerry Properties Limited (KRYPF)?
Balance-sheet figures for Kerry Properties Limited (as of Sep 24, 2026): return on equity 1.1%, debt of 0.47 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
Which stocks are comparable to Kerry Properties Limited?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, Hongkong Land Holdings, 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 Kerry Properties Limited stock attractive at the current price?
The data as of Sep 24, 2026: price $2.50, calculated fair value $5.92 (+137%), Quality Score 60/100, from 15 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 KRYPF calculated?
We run Kerry Properties Limited through 15 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 $5.92, 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. Kerry Properties Limited currently trades 58 % 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 Kerry Properties Limited (KRYPF)?
The latest price we hold is from Sep 15, 2026 and stands at $2.50. Our model-based fair value is $5.92, about +137% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kerry Properties Limited right now?
The price is below even our cautious bear case ($5.05). The market is more pessimistic than our downside scenario. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Kerry Properties Limited (KRYPF) come from?
Earnings per share at Kerry Properties Limited grew −10.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.7 %, EBIT margin −10.2 %, tax rate −5.2 %, residual (interest, one-offs) −2.3 %. 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 Kerry Properties Limited
How large is the market capitalisation of Kerry Properties Limited (KRYPF)?
The market capitalisation of Kerry Properties Limited is $4.4B. 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 Kerry Properties Limited (KRYPF)?
The price-to-sales ratio of Kerry Properties Limited is 1.44 (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 Kerry Properties Limited (KRYPF)?
Earnings per share at Kerry Properties Limited are $0.0800 (price ÷ EPS = P/E 31.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kerry Properties Limited (KRYPF)?
The net margin of Kerry Properties Limited is 4.6% (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 Kerry Properties Limited (KRYPF)?
The return on equity (ROE) of Kerry Properties Limited is 1.1% (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 Kerry Properties Limited (KRYPF)?
On an EBIT basis the return on assets of Kerry Properties Limited is 2.6% (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 Kerry Properties Limited (KRYPF)?
The operating margin of Kerry Properties Limited is 17.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kerry Properties Limited (KRYPF)?
Revenue at Kerry Properties Limited is growing −20.4% versus a year earlier (3y avg +11.6%). 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 Kerry Properties Limited (KRYPF)?
Earnings per share at Kerry Properties Limited are growing +15.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kerry Properties Limited (KRYPF) generate?
The free cash flow of Kerry Properties Limited is HK$12.8B (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 Kerry Properties Limited (KRYPF) carry?
The net debt of Kerry Properties Limited is HK$39.7B (fiscal year 2025, ≈ 3.1 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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