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Sun Hung Kai Properties Ltd (0016) Fair Value & Analysis

Real Estate · HK · Market cap HK$325B (≈ $41.5B) · ISIN HK0016000132

What is Sun Hung Kai Properties Ltd really worth?

SH Sun Hung Kai Properties Ltd 0016 · HK
PriceHK$119.50
Fair ValueHK$113.09
Upside−5.4%
Quality69/100

A solid business, currently priced close to our fair value of HK$113.09.

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Strengths

Highly profitable · 23.8% net margin
Low debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Weak Growth (revenue 5y −0.9 %/yr)
!Moderate moat 51/100
!Weak on valuation: 26 out of 100
!Weak on past: 15 out of 100

For context

·3.16% dividend yield
Evidence: High Range HK$84.82 – HK$141.36

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 22 days ago

Share price −1.8% over the past month.

What runs behind every stock

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

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

HK$146.20 HK$60.48 Fair Value HK$113.09 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$60.48 – HK$146.20 · fair‑value band HK$84.82 – HK$141.36 · the HK$119.50 price screens above the HK$113.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Sun Hung Kai Properties Ltd (0016) currently trades at HK$119.50, while our model-based Fair Value estimate is HK$113.09, implying the stock looks roughly 5.7% fairly valued today. The Quality Score stands at 69/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of HK$157.65 per share, and 9 of the 16 models we run sit above the HK$119.50 price. Bear case: the Dividend Discount group reads lowest at HK$53.90, and 7 of the 16 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Sun Hung Kai Properties Ltd generated revenue of HK$92.5B at a net margin of 23.8%. Revenue grew 32.0% year over year. It earns a return on equity of 3.7%. Net debt stands at HK$110B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$84.82 (bear case) to HK$141.36 (bull case); at HK$119.50, the current price sits within 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 about 19% below its 52-week high and 41% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −9% fair-value upside, at −5%, 0016 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly HK$4.34 per share, which is 3.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF HK$111.31 HK$176.15 HK$272.91 79
Growth DCF HK$116.09 HK$177.16 HK$264.66 78
Residual Income HK$158.17 HK$155.93 HK$136.65 76
All 16 models by family
DCF Models
FCF DCF HK$111.31 HK$176.15 HK$272.91 79
5Y Revenue Exit HK$71.16 HK$113.73 HK$165.24 72
5Y EBITDA Exit HK$99.31 HK$163.61 HK$234.78 75
10Y Revenue Exit HK$81.99 HK$123.22 HK$172.67 67
10Y EBITDA Exit HK$102.41 HK$157.65 HK$224.33 68
Dividend Discount
Gordon GGM HK$36.07 HK$61.62 HK$93.50 67
DDM Multi-Stage HK$36.07 HK$53.90 HK$74.66 66
Multiples
P/S Multiple HK$84.82 HK$113.09 HK$141.36 58
P/B Multiple HK$84.82 HK$113.09 HK$141.36 55
EV/EBIT HK$121.26 HK$170.75 HK$220.25 65
EV/EBITDA HK$110.03 HK$155.79 HK$201.54 67
EV/Revenue HK$54.66 HK$89.76 HK$124.86 52
Asset-Based
NCAV (Graham) HK$106.61 HK$142.85 HK$213.22 54
Growth DCF
Growth DCF HK$116.09 HK$177.16 HK$264.66 78
Rev-Margin DCF HK$71.16 HK$115.68 HK$163.63 72
Economic Profit
Residual Income HK$158.17 HK$155.93 HK$136.65 76

Widest divergence: DCF Models (HK$157.65) versus Dividend Discount (HK$53.90). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 14.8 as of Jul 1, 2026
P/S ratio 3.58 P/E × margin
EPS (TTM) HK$8.12 price ÷ EPS = P/E 14.8
Dividend yield 3.2% payout 46.6%
Net margin 24.2% FY2025
Return on equity 3.7% TTM
More key figures
Profitability
Return on assets (EBIT) 3.7% avg 5y
Operating margin 24.3% TTM
Growth
Revenue (TTM) HK$92.5B TTM
Revenue growth (YoY) +32.0% 3y avg +0.8%
EPS growth (YoY) +36.2%
Balance sheet & cash flow
Free cash flow HK$35.9B FY2025
Net debt HK$110B FY2025 · ≈ 3.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 67 · Market factors (momentum, volatility) 58

Profitability 32
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 99
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 64
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

Sun Hung Kai Properties Limited, an investment holding company, develops and invests in properties for sale and rent in Hong Kong, Mainland China, and internationally. It develops, sells, and leases properties, including residential estates, offices, shopping malls, and hotels and serviced suites.

Full company description

Sun Hung Kai Properties Limited, an investment holding company, develops and invests in properties for sale and rent in Hong Kong, Mainland China, and internationally. It develops, sells, and leases properties, including residential estates, offices, shopping malls, and hotels and serviced suites. The company also provides property management services; construction-related services, including landscaping, electrical and mechanical installation, production and installation of wooden doors, and construction plant and machinery leasing; and insurance products to individuals and businesses comprising householder's comprehensive, fire, employees' compensation, travel, personal accident, motor vehicles, contractors' all risks, third party liability, and property all risks. In addition, it offers public bus, car parks, toll roads, and retail department stores services; data centre, facilities management, and value-added services; general insurance; and airport freight forwarding services. Further, the company provides insurance and mortgage services; mobile telephone, data centres, and IT infrastructure services; and transport infrastructure operation and management, port, and air transport and logistic services, as well as Internet of Things (IoT) solutions. Additionally, it offers mobile telephone system operation services; asset and project management services; loan financing; fire prevention and mechanical engineering services; architectural and engineering services; property and facility management services; business aviation centre services; real estate and general agency services; and secretarial services, as well as manufactures and sells ready mixed and precast concrete. The company also engages in the hotel operation business. The company was formerly known as Sun Hung Kai (Holdings) Limited and changed its name to Sun Hung Kai Properties Limited in March 1973. Sun Hung Kai Properties Limited was incorporated in 1972 and is based in Wan Chai, Hong Kong.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sun Hung Kai Properties Ltd reported revenue of HK$79.7B in FY2025 versus HK$85.2B in FY2021, a compound −1.7%/yr. Reported net income was HK$19.3B in FY2025, compounding −7.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$79.7B
Latest YoY
+11.5%
Avg. revenue 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.
+0.8%
Avg. revenue growth/yr (5Y) 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.
−0.9%
Avg. revenue growth/yr (27Y) 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.
+4.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−3.1% (−6.3 + 3.2)
Revenue −1.7%/yr
FY21 HK$85.2B
FY22 HK$77.7B
FY23 HK$71.2B
FY24 HK$71.5B
FY25 HK$79.7B
Net income −7.9%/yr
FY21 HK$26.8B
FY22 HK$25.6B
FY23 HK$23.9B
FY24 HK$19.0B
FY25 HK$19.3B
Character of growth · EPS growth decomposed (2014-2025) −5.2 % p.a.
Revenue per share −0.9 %

of which total revenue −0.5 % · buybacks/dilution −0.4 %

EBIT margin +1.4 %
Tax rate −0.3 %
Residual (interest, one-offs) −5.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Sun Hung Kai Properties Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0016

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Real Estate - Development · 567 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 69 · Top 25%
Fair Value upside −5% · Below median
Return on equity (TTM) 4% · Above median
Return on assets 2% · Above median
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth 32% · Top 25%
Dividend yield (TTM) 3.2% · Above median
Debt / equity 0.16× · Lower than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 14.8× · Pricier than median
P/B 0.53× · Cheaper than median
P/S (TTM) 3.52× · Pricier than 75% of peers
P/FCF 1.2× · Pricier than median
EV/EBITDA 13.8× · Pricier than median
PEG 0.91× · Pricier than median

Strength profile in five axes (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
VALUE26 · sector 45
FUTURE100 · sector 0
PAST15 · sector 11
HEALTH92 · sector 85
DIVIDEND63 · sector 53

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 (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Resources Land Limited 1109 HK$35.24 HK$72.16 +105%
Vinhomes Joint Stock Company VHM 71,700 VND 109,431 VND +53%
CK Asset Holdings 1113 HK$47.34 HK$68.85 +45%
Hongkong Land Holdings H78 $8.20 $1.52 −81%
DLF Limited DLF ₹667.10 ₹170.24 −74%
China Overseas Land & Investment Limited 0688 HK$13.76 HK$22.92 +67%
Macrotech Developers Limited LODHA ₹1,244 ₹583.42 −53%
Sino Land Company 0083 HK$10.33 HK$6.99 −32%
PT Pantai Indah Kapuk Dua Tbk, PANI 5,925 IDR 1,325 IDR −78%
CTP N.V CTPNV €14.36 €13.00 −9%

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Frequently asked questions

Is Sun Hung Kai Properties Ltd (0016) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$113.09 versus a price of HK$119.50, about −5% upside (fairly valued).
What is the fair value of 0016?
Our model-based fair value for Sun Hung Kai Properties Ltd is HK$113.09 (as of Aug 13, 2026), built from audited fundamentals. The current price: HK$119.50.
What is the quality score of 0016?
Sun Hung Kai Properties Ltd has a Quality Score of 69/100. 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 Sun Hung Kai Properties Ltd (0016)?
Sun Hung Kai Properties Ltd reported trailing-twelve-month revenue of about HK$92.5B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0016?
The net profit margin of Sun Hung Kai Properties Ltd is about 23.8%, meaning it keeps roughly 23.8% of revenue as net income. Based on the latest reported figures.
Does Sun Hung Kai Properties Ltd pay a dividend?
Sun Hung Kai Properties Ltd currently shows a dividend yield of about 3.16% relative to its recent price (as of Aug 13, 2026).
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