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Waton Financial Limited (WTF) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Waton Financial Limited stock $1.41, price $2.00, that is 29.5% below the price, quality 41 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Financial Services US · Based in Hong Kong · ISIN VGG9548D1042

WF Waton Financial Limited logo Thin data Nov 10, 2026

Waton Financial Limited

WTF · US
Expensive, weak quality

Our calculation puts a fair price 30% below what the stock costs today.

Quality 41/100
Expensive Growth (revenue 3y +24.5 %/yr in USD)
Fair value $1.41 · Overvalued
Loss-making · -149.1% net margin (TTM)
Negative free cash flow
Trails peers (0/9)
Narrow moat 16/100
Thin data
Estimate⚠ Small free float
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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

$19.85 $1.96 Fair Value $1.41 Apr 2025 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

19‑month range $1.96 – $19.85 · fair‑value band $1.06 – $1.77 · the $2.00 price screens above the $1.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Waton Financial Limited provides securities brokerage and financial technology services in Hong Kong.

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The company offers securities brokerage services for securities listed on the Hong Kong Stock Exchange, including shares under the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, the New York Stock Exchange, and the Nasdaq Stock Market; margin financing services; and other ancillary services through an electronic trading platform to its corporate and individual brokerage customers, as well as bond distribution services.

It also provides software licensing and related support services comprising the licensing of the trading platform APP, upgrades and enhancements, maintenance, and other related services to financial institutions; and integrated and customizable software solutions to develop the trading platform APP that cover the front, middle, and back-office operations of securities brokerage businesses, such as electronic trade order placing, customer relationship management and operational data management, and securities order clearing and settlement services that enable the securities broker customers to digitalize and streamline their business operations and interact with the financial market.

The company was formerly known as IAM Group Inc. and changed its name to Waton Financial Limited in July 2023. Waton Financial Limited was founded in 1989 and is based in Kowloon City, Hong Kong. Waton Financial Limited is a subsidiary of Waton Corporation Limited.

Stock analysis

Waton Financial Limited (WTF) currently trades at $2.00, while our estimate is $1.41, 30% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $1.06 (bear) to $1.77 (bull), the price of $2.00 sits above 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 41/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Waton Financial Limited Ordinary Shares reported revenue of $11.1M in FY2026 versus $253K in FY2022, a compound +157.3%/yr. Reported net income was −$15.2M in FY2026.

Key figures

Market cap $92.9M Micro · P/S ratio 11.2 · EPS (TTM) $−0.3100 · Net margin −149% · Return on equity −87.9% · Return on assets (EBIT) −14.3% (5-year average) · Operating margin −155% · Revenue (TTM) $10.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (medium confidence).

What moves the price

The share trades about 66% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −30%, WTF screens richer than that median.

Fair Value

Bear $1.06 Fair Value $1.41 Bull $1.77
Price $2.00 · Downside -29.5%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 41/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 3
How much profit the company makes from its sales and capital
Quality Growth 66
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 71
Debt, balance sheet and risk of trouble
Investment 56
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 4
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 76
Buys back shares or issues new ones?

Open the full quality analysis →

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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+48.8%
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.
+24.5%
Profit margin (trend) ⓘ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.
−647.0% (2022) → −122.7% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

WTF screens overvalued: fair value 30% below the price. Compare with Morgan Stanley →

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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.Capital Markets · 455 stocks

Beats the industry median on 0/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 41 · Bottom 25%
Fair Value upside −29.5% · Bottom 25%
Profitability
Return on assets −27.7% · Bottom 25%
Net margin (12 months) −149.1% · Bottom 25%
Operating margin (12 months) −154.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 2.9% · Below median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 4.28× · Priciest 25%
P/S (12 months) 9.15× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 32
FUTURE (revenue growth)15 · sector 58
PAST (return on equity)0 · sector 31
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)0 · sector 46

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, 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 Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Morgan Stanley MS $187.56 $260.72 +39% vs WTF
The Charles Schwab Corporation SCHW $93.03 $117.60 +26% vs WTF
Guotai Haitong Securities Co 601211 ¥16.21 ¥18.02 +11% vs WTF
Nomura Holdings NMR $9.51 $10.17 +7% vs WTF
The Goldman Sachs Group GS $910.19 $766.86 −16% vs WTF
CITIC Securities Company 600030 ¥25.53 ¥20.42 −20% vs WTF
Robinhood Markets, Inc HOOD $81.33 $47.60 −41% vs WTF
Macquarie Group MQG A$249.23 A$123.84 −50% vs WTF
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs WTF
Interactive Brokers Group IBKR $77.59 $17.48 −77% vs WTF

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Waton Financial Limited Ordinary Shares: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Waton Financial Limited Ordinary Shares Fair Value". https://www.fairvalue-calculator.com/stock/WTF

Frequently asked questions

Is Waton Financial Limited (WTF) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $1.41 versus a price of $2.00, about 30% lower (overvalued).
What is the fair value of WTF?
Our estimate for Waton Financial Limited is $1.41 (as of Nov 10, 2026), built from audited fundamentals. The current price: $2.00.
What is the quality score of WTF?
Waton Financial Limited has a Quality Score of 41/100. 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 Waton Financial Limited (WTF)?
Our calculated price target is the estimate of $1.41 (as of Nov 10, 2026). Cautious scenario $1.06, optimistic scenario $1.77. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Waton Financial Limited Ordinary Shares stock forecast for 2026?
Our estimate puts fair value at $1.41, about 30% lower versus a price of $2.00 (overvalued). Cautious scenario $1.06, optimistic scenario $1.77. The calculation is refreshed regularly with new filings.
What is the revenue of Waton Financial Limited (WTF)?
Waton Financial Limited reported trailing-twelve-month revenue of about $10.2M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Waton Financial Limited (WTF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Waton Financial Limited it is $1.41 per share (as of Nov 10, 2026), against a price of $2.00.
Is Waton Financial Limited Ordinary Shares stock overvalued or undervalued in 2026?
As of Nov 10, 2026, WTF trades above its calculated fair value: price $2.00, fair value $1.41, a gap of about −30% (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 WTF?
No. The price is what the market pays today ($2.00); the fair value is what the company's own numbers justify ($1.41). For Waton Financial Limited the two are $0.5900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Waton Financial Limited Ordinary Shares worth?
The market values Waton Financial Limited at about $92.9M (market capitalisation, as of Nov 10, 2026). Per share that is $2.00; our models calculate a fair value of $1.41 per share.
What do the bullish and bearish scenarios say about WTF?
Our models span a range for Waton Financial Limited: cautious scenario $1.06, base $1.41, optimistic $1.77 per share (as of Nov 10, 2026, price $2.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Waton Financial Limited (WTF)?
Balance-sheet figures for Waton Financial Limited (as of Nov 10, 2026): return on equity −87.9%. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is WTF from its 52-week high?
Waton Financial Limited trades at $2.00, about 66% below its 52-week high of $5.87 and 2% above the low of $1.96 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $1.41 is for.
Which stocks are comparable to Waton Financial Limited Ordinary Shares?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Waton Financial Limited Ordinary Shares stock attractive at the current price?
The data as of Nov 10, 2026: price $2.00, calculated fair value $1.41 (−30%), Quality Score 41/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Waton Financial Limited 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 Waton Financial Limited (WTF)?
The closing price on Nov 10, 2026 was $2.00. Our estimate is $1.41, about 30% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Waton Financial Limited Ordinary Shares right now?
The price sits above even our optimistic bull case ($1.77). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Waton Financial Limited

How large is the market capitalisation of Waton Financial Limited (WTF)?
The market capitalisation of Waton Financial Limited is $92.9M. 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 Waton Financial Limited (WTF)?
The price-to-sales ratio of Waton Financial Limited is 11.2 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Waton Financial Limited (WTF)?
Earnings per share at Waton Financial Limited are $−0.3100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Waton Financial Limited (WTF)?
The net margin of Waton Financial Limited is −149% (last twelve months). 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 Waton Financial Limited (WTF)?
The return on equity (ROE) of Waton Financial Limited is −87.9% (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 Waton Financial Limited (WTF)?
On an EBIT basis the return on assets of Waton Financial Limited is −14.3% (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 Waton Financial Limited (WTF)?
The operating margin of Waton Financial Limited is −155% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Waton Financial Limited (WTF)?
Revenue at Waton Financial Limited is growing +2.9% versus a year earlier (3y avg +24.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Waton Financial Limited (WTF) generate?
The free cash flow of Waton Financial Limited is −$7.4M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Waton Financial Limited (WTF) hold?
Waton Financial Limited holds more cash than debt, $7.8M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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