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Lenovo Group (LENOVO13) Fair Value & Analysis

Technology · TH · Market cap 94.9B THB

LG Lenovo Group LENOVO13 · BK
Price7.65 THB
Fair Value4.32 THB
Upside-43.5%
Quality55/100
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Healthy Growth
Thin margins · 2.3% net margin
Moderate debt · generates free cash flow
0.87% dividend yield
Ranks above peers (10/14)
Moderate moat 53/100
Evidence: High Range 2.47 THB – 5.39 THB Share as image

Fair value as of: Aug 14, 2026

From 24 valuation models · updated today

Share price +55.0% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (5.39 THB). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (2.47 THB to 5.39 THB) leaves room in how you read the outcome.
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Price vs Fair Value (9 months)

7.65 THB 1.75 THB Fair Value 4.32 THB Nov 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 14, 2026.

How to read this chart

9‑month range 1.75 THB – 7.65 THB · fair‑value band 2.47 THB – 5.39 THB · the 7.65 THB price screens above the 4.32 THB fair value. As of Aug 14, 2026.

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Analysis

Lenovo Group (LENOVO13) currently trades at 7.65 THB, while our model-based Fair Value estimate is 4.32 THB, implying the stock looks roughly 43.5% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Technology 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: high).

Over the trailing twelve months, Lenovo Group generated revenue of 83.1B THB at a net margin of 2.3%. Revenue grew 27.1% year over year. It earns a return on equity of 28.6%. Net debt stands at $640M. Fundamentals as of Aug 14, 2026

Our scenario range runs from 2.47 THB (bear case) to 5.39 THB (bull case); at 7.65 THB, 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 near its 52-week high and 340% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -44%, LENOVO13 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 2.56 THB 5.22 THB 9.55 THB 80
Residual Income 1.05 THB 1.42 THB 8.24 THB 76
Rev-Margin DCF 2.57 THB 4.84 THB 8.06 THB 74
All 24 models by family
DCF Models
FCF DCF 2.64 THB 4.70 THB 10.07 THB 38
Owner Earnings 1.82 THB 3.74 THB 7.52 THB 31
5Y Revenue Exit 2.57 THB 4.95 THB 8.40 THB 39
5Y EBITDA Exit 4.28 THB 8.81 THB 14.99 THB 41
5Y P/E Exit 3.03 THB 5.98 THB 9.64 THB 38
10Y Revenue Exit 2.49 THB 4.85 THB 8.72 THB 36
10Y EBITDA Exit 3.76 THB 7.84 THB 15.01 THB 37
10Y P/E Exit 2.89 THB 5.65 THB 10.10 THB 35
Earnings-Based
Graham-Dodd 1.05 THB 6.46 THB 9.01 THB 54
Lynch FV 1.85 THB 2.65 THB 3.44 THB 50
PEG = 1.0 1.85 THB 2.65 THB 3.44 THB 46
EPV 2.06 THB 2.39 THB 2.68 THB 59
Multiples
P/E Multiple 3.24 THB 4.32 THB 5.39 THB 63
P/S Multiple 1.97 THB 2.62 THB 3.28 THB 58
P/B Multiple 1.97 THB 2.62 THB 3.28 THB 55
EV/EBIT 4.82 THB 6.39 THB 7.97 THB 53
EV/EBITDA 5.18 THB 6.87 THB 8.57 THB 54
EV/Revenue 2.48 THB 3.50 THB 4.53 THB 43
Asset-Based
NCAV (Graham) 0.3100 THB 0.4100 THB 0.6200 THB 50
Growth DCF
Growth DCF 2.56 THB 5.22 THB 9.55 THB 80
Rev-Margin DCF 2.57 THB 4.84 THB 8.06 THB 74
Economic Profit
Residual Income 1.05 THB 1.42 THB 8.24 THB 76
ROIC Compounder 2.40 THB 3.22 THB 4.30 THB 72
Growth Earnings
Growth-Adj P/E 3.07 THB 4.38 THB 5.70 THB 68

Widest divergence: DCF Models (4.95 THB) versus Asset-Based (0.4100 THB). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 83.1B THB
Revenue growth (YoY) +27.1%
Net margin 2.3%
Return on equity 28.6%
Free cash flow $2.2B FY2026
P/E ratio 1.7
More key figures
Operating margin 5.6%
EPS (TTM) 4.59 THB
Dividend yield 0.9%
EPS growth (YoY) +456%
Net debt $640M FY2025

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 54 · Market factors (momentum, volatility) 78

Profitability 56
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 78
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

Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments.

Full company description

Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments. The company offers commercial and consumer personal computers, servers and workstations, and smartphones, as well as laptops, desktops, tablets, monitors, and accessories and software. It also provides consulting, deployment, managed, support, and security services. In addition, the company manufactures and distributes IT products, computers, computer hardware, and peripheral equipment; and offers IT, business planning, management, global supply chain, finance and accounting, administration support, procurement agency, data management, intellectual property, and investment management services. Further, it is involved in the retail and service business for consumer electronic products and related digital services; development, ownership, licensing, and sale of communications hardware and software; and develops software and applications. It operates in China, the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company was founded in 1984 and is headquartered in Quarry Bay, Hong Kong.

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

Revenue & earnings trend

FY2023 – FY2026 · reported fiscal years

Lenovo Group reported revenue of $83.1B in FY2026 versus $61.9B in FY2023, a compound +10.3%/yr. Reported net income was $1.9B in FY2026, compounding +5.9%/yr from FY2023.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
83.1B THB
Latest YoY
+20.3%
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.
+10.3%
Revenue +10.3%/yr
FY23 $61.9B
FY24 $56.9B
FY25 $69.1B
FY26 $83.1B
Net income +5.9%/yr
FY23 $1.6B
FY24 $1.0B
FY25 $1.4B
FY26 $1.9B

LENOVO13 screens 44% overvalued. Compare with Dell Technologies Inc →

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Cite: Fair Value Calculator (2026). "Lenovo Group Fair Value". https://www.fairvalue-calculator.com/stock/LENOVO13

Peer Group

Computer Hardware · 224 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 55 · Above median
Fair Value upside −44% · Below median
Return on equity (TTM) 29% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 6% · Above median
Revenue growth 27% · Above median
Dividend yield (TTM) 0.9% · Below median
Debt / equity 0.51× · Higher than 75% of peers

Valuation Multiples vs Computer Hardware median · lower = cheaper

P/E (TTM) 1.7× · Cheaper than 75% of peers
P/B 0.38× · Cheaper than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 1.3× · Cheaper than median
PEG 0.06× · 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 0
FUTURE 100 · sector 59
PAST 100 · sector 23
HEALTH 75 · sector 97
DIVIDEND 17 · sector 42

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 Computer Hardware stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
Dell Technologies Inc DELL $484.50 $187.75 -61%
Arista Networks, Inc ANET $210.50 $57.72 -73%
Western Digital Corporation WDC $454.10 $90.94 -80%
Hygon Information Technology Co 688041 ¥287.66 ¥30.66 -89%
Hangzhou Hikvision Digital Technology Co 002415 ¥36.47 ¥40.44 +11%
Shenzhen Longsys Electronics Co 301308 ¥414.30 ¥91.67 -78%
Dawning Information Industry Co 603019 ¥86.42 ¥39.38 -54%
Inspur Electronic Information Industry Co 000977 ¥75.02 ¥44.02 -41%
Lite-On Technology Corporation 2301 269.50 TWD 121.96 TWD -55%
Advantech Co 2395 686.00 TWD 265.18 TWD -61%

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Frequently asked questions

Is Lenovo Group (LENOVO13) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of 4.32 THB versus a price of 7.65 THB, about −44% (overvalued).
What is the fair value of LENOVO13?
Our model-based fair value for Lenovo Group is 4.32 THB (as of Aug 14, 2026), built from audited fundamentals. The current price is 7.65 THB.
What is the quality score of LENOVO13?
Lenovo Group has a Quality Score of 55/100. 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 Lenovo Group (LENOVO13)?
Lenovo Group reported trailing-twelve-month revenue of about 83.1B THB (latest available figure, as of Aug 14, 2026).
What is the net profit margin of LENOVO13?
The net profit margin of Lenovo Group is about 2.3%, meaning it keeps roughly 2.3% of revenue as net income. Based on the latest reported figures.
Does Lenovo Group pay a dividend?
Lenovo Group currently shows a dividend yield of about 0.87% relative to its recent price (as of Aug 14, 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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