Wharf Holdings Ltd (WARFY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Wharf Holdings Ltd $5.28, price $4.61, upside +14.5%, quality 66 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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Wharf Holdings Ltd
WARFY · USUndervaluedThe stock appears undervalued with acceptable quality.
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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 23, 2026.
How to read this chart
60‑month range $3.47 – $7.50 · fair‑value band $3.82 – $6.35 · the $4.61 price screens below the $5.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
The Wharf (Holdings) Limited was the 17th company registered in Hong Kong and is currently the 7th with the longest history. Wharf is also one of the 30 constituent stocks in the original Hang Seng Index from the 1960s. The Group upholds a long-standing mission of (Building for Tomorrow).
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The Wharf (Holdings) Limited was the 17th company registered in Hong Kong and is currently the 7th with the longest history. Wharf is also one of the 30 constituent stocks in the original Hang Seng Index from the 1960s. The Group upholds a long-standing mission of (Building for Tomorrow). With a proven track record in management and execution, the Group's businesses comprise Investment Properties, Development Properties and Hotels in Hong Kong and Mainland China. Other businesses include Logistics Infrastructure through Modern Terminals and Hong Kong Air Cargo Terminals. In Hong Kong, the Group's exclusive Peak Portfolio, comprising a rare collection of unique properties, features the highest bespoke quality and craftsmanship catering to the demands of a privileged and discerning clientele. As at the end of 2024, the Group's attributable land bank in Hong Kong was about 2.8 million square feet, of which about 550,000 square feet on The Peak. The Group's Mainland China Investment Properties are led by the International Finance Squares (IFS) at the very heart of CBD in select cities. IFS developments in Chengdu and Changsha have become trendsetting landmarks with unrivalled location, superior planning and design, retailer and shopper critical mass and top-notch management. The Mainland China Development Properties land bank further depleted to 1.2 million square meters at the end of 2024. The bulk of unsold stocks are commercial properties in grossly over-supplied markets. Wharf Hotels operates 16 hotels across Hong Kong, Mainland China and the Philippines under three brands " Niccolo, Marco Polo and Maqo. The Group wholly owns four of these properties and holds 50% stake in another. In June 2024, a third hotel owned by the Group at Changsha IFS opened under a park Hyatt flag. The Group also owns and operates Modern Terminals, which operates container terminals in Hong Kong and Shenzhen, and is a founding partner in Hong Kong Air Cargo Terminals. Both have been key components for Hong Kong's success as an internati
Stock analysis
Wharf Holdings Ltd (WARFY) currently trades at $4.61, while our model-based Fair Value estimate is $5.28, implying the stock looks roughly 12.7% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $8.20 per share, and 11 of the 16 models we run sit above the $4.61 price.
Bear case: the Dividend Discount group reads lowest at $0.9800, and 5 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: $3.82 (bear) to $6.35 (bull), the price of $4.61 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 66/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Wharf Holdings Ltd reported revenue of HK$11.0B in FY2025 versus HK$22.4B in FY2021, a compound −16.3%/yr. Reported net income was HK$49.9M in FY2025, compounding −69.8%/yr from FY2021.
Key figures
Market cap $7.0B · P/E ratio 461.0 · P/S ratio 2.10 · EPS (TTM) $0.0100 · Dividend yield 2.2% · Net margin 0.5% · Return on equity 0.1% · Return on assets (EBIT) 3.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 39% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 2% fair-value upside, at 15%, WARFY screens cheaper than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 37
Revenue & earnings trend
Growth Forecast
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Compare Wharf Holdings Ltd with another stock
Price, fair value, quality and upside side by side.
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 · 570 stocks
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
Strength profile in five axes (Snowflake)
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.
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% |
| 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% |
| CTP N.V CTPNV | €12.90 | €10.46 | −19% |
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Key figures of Wharf Holdings Ltd
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