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Macau Property Opportunities Fund Ltd (MPO) Fair Value & Analysis

Real Estate · GB · Market cap 3.0M GBX · ISIN GG00BGDYFV61

MP Macau Property Opportunities Fund Ltd MPO · LSE
Price£0.0493
Fair Value£0.0856
Upside+73.8%
Quality40/100
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Strengths

Trades 42% below our fair value of £0.0856

Risks

!Weak Growth
!Thin margins · 0.0% net margin
!High debt · negative free cash flow
!Trails peers (3/10)
Weak Growth
Thin margins · 0.0% net margin
High debt · negative free cash flow
Trails peers (3/10)
Narrow moat 13/100
Evidence: Low Range £0.0722 – £0.1161 Share as image

Fair value as of: Aug 28, 2026

From 1 valuation models · updated today

Fair value updated Aug 28, 2026, revised from £0.1174 to £0.0856 (−27.1%) since Aug 20, 2026. Share price −19.6% over the past month.

Below-average quality, trading 42% below our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (£0.0722). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

£0.6975 £0.0493 Fair Value £0.0856 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range £0.0493 – £0.6975 · fair‑value band £0.0722 – £0.1161 · the £0.0493 price screens below the £0.0856 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 Aug 28, 2026.

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Analysis

Macau Property Opportunities Fund Ltd (MPO) currently trades at £0.0493, while our model-based Fair Value estimate is £0.0856, implying the stock looks roughly 73.8% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Trailing-twelve-month revenue stands at £4.2M. Revenue declined 8.0% year over year. It earns a return on equity of -59.9%. Net debt stands at £42.7M. Fundamentals as of Aug 28, 2026

Our scenario range runs from £0.0722 (bear case) to £0.1161 (bull case); at £0.0493, the current price sits below 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. For context, the median of 10 Real Estate peers we cover trades at -25% fair-value upside, at 74%, MPO 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
NCAV (Graham) £0.1900 £0.2500 £0.3700 50
All 1 models by family
Asset-Based
NCAV (Graham) £0.1900 £0.2500 £0.3700 50

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Key figures & financial health

P/S ratio 0.90 TTM
EPS (TTM) £-0.2500
Return on equity -59.9% TTM
Return on assets (EBIT) -6.9% avg 5y
Operating margin -13.3% TTM
Revenue (TTM) £4.2M TTM
More key figures
Growth
Revenue growth (YoY) -8.0%
Balance sheet & cash flow
Free cash flow −3.3M GBX FY2025
Net debt 42.7M GBX FY2025

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 37 · Market factors (momentum, volatility) 22

Profitability 0
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Macau Property Opportunities Fund Limited is a closed-end investment company which is only quoted property fund dedicated to investing in Macau, the world's leading gaming market and the only city in China where gaming is legalized. Macau Property Opportunities Fund Limited targets strategic property investment and development opportunities in Macau.

Full company description

Macau Property Opportunities Fund Limited is a closed-end investment company which is only quoted property fund dedicated to investing in Macau, the world's leading gaming market and the only city in China where gaming is legalized. Macau Property Opportunities Fund Limited targets strategic property investment and development opportunities in Macau. Its current portfolio comprises prime residential property assets. The Company is managed by Sniper Capital Limited, an Asia-based property investment manager with an established track record in fund management and investment advisory. Macau Property Opportunities Fund Limited was founded in 2006 and is registered in Guernsey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Macau Property Opportunities Fund Ltd reported revenue of £3.4M in FY2025 versus £6.3M in FY2021, a compound −14.3%/yr. Reported net income was −£11.3M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
£3.4M
Avg. revenue growth/yr (18Y) 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.
−5.2%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −14.3%/yr
FY21 £6.3M
FY22 −£17.5M
FY23 −£10.9M
FY24 −£21.0M
FY25 £3.4M
Net income
FY21 −£2.5M
FY22 −£19.1M
FY23 −£12.0M
FY24 −£19.6M
FY25 −£11.3M

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Cite: Fair Value Calculator (2026). "Macau Property Opportunities Fund Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MPO

Peer Group

Real Estate Services · 547 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 37 · Bottom 25%
Fair Value upside +83% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) -13% · Bottom 25%
Revenue growth -8% · Below median
Debt / equity 4.99× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/B 0.18× · Cheaper than 75% of peers
P/S (TTM) 0.98× · Cheaper than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 33
FUTURE0 · sector 10
PAST0 · sector 17
HEALTH0 · sector 84
DIVIDEND0 · sector 59

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 Services stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

Stock Price Fair Value vs Fair Value
CBRE Group CBRE $147.40 $69.47 -53%
Vonovia SE VNA €19.95 €36.67 +84%
Cellnex Telecom, S.A CLNX €27.47 €25.46 -7%
KE Holdings BEKE $17.42 $6.57 -62%
Jones Lang LaSalle Incorporated JLL $386.08 $290.25 -25%
Swire Properties Limited 1972 HK$24.84 HK$5.12 -79%
CoStar Group CSGP $32.14 $4.64 -86%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.84 HK$34.95 -12%
CapitaLand Investment Limited 9CI 2.73 SGD 0.4900 SGD -82%
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%

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Frequently asked questions

Is Macau Property Opportunities Fund Ltd (MPO) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of £0.0856 versus a price of £0.0493, about +74% (undervalued).
What is the fair value of MPO?
Our model-based fair value for Macau Property Opportunities Fund Ltd is £0.0856 (as of Aug 28, 2026), built from audited fundamentals. The current price: £0.0493.
What is the quality score of MPO?
Macau Property Opportunities Fund Ltd has a Quality Score of 40/100. 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 Macau Property Opportunities Fund Ltd (MPO)?
Macau Property Opportunities Fund Ltd reported trailing-twelve-month revenue of about £4.2M (latest available figure, as of Aug 28, 2026).
What is the net profit margin of MPO?
The net profit margin of Macau Property Opportunities Fund Ltd is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

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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