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TravelSky Technology Limited (0696) Fair Value & Analysis

Technology · HK · Market cap HK$23.6B

TT TravelSky Technology Limited 0696 · HK
PriceHK$8.46
Fair ValueHK$19.54
Upside+131.0%
Quality66/100
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Mixed Growth
Highly profitable · 26.7% net margin
Low debt · generates free cash flow
Ranks above peers (11/13)
Moderate moat 60/100
Evidence: High Range HK$14.66 – HK$24.43 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from HK$19.52 to HK$19.54 (+0.1%) since Aug 5, 2026. Share price +3.4% over the past month.

A solid business, screening 131% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$14.66). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

HK$18.09 HK$7.14 Fair Value HK$19.54 Mar 2021 Aug 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$7.14 – HK$18.09 · fair‑value band HK$14.66 – HK$24.43 · the HK$8.46 price screens below the HK$19.54 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

TravelSky Technology Limited (0696) currently trades at HK$8.46, while our model-based Fair Value estimate is HK$19.54, implying the stock looks roughly 131.0% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Technology 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: high), always confirm before acting.

Over the trailing twelve months, TravelSky Technology Limited generated revenue of HK$8.8B at a net margin of 26.7%. Revenue grew 1.9% year over year. It earns a return on equity of 10.1%. The balance sheet holds a net cash position of HK$8.0B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$14.66 (bear case) to HK$24.43 (bull case); at HK$8.46, 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. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 36% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at 131%, 0696 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 HK$12.27 HK$18.28 HK$28.09 80
Residual Income HK$7.16 HK$7.93 HK$12.24 76
Rev-Margin DCF HK$8.71 HK$11.64 HK$15.29 74
All 24 models by family
DCF Models
FCF DCF HK$12.24 HK$18.55 HK$28.96 38
Owner Earnings HK$12.83 HK$19.54 HK$30.63 31
5Y Revenue Exit HK$8.71 HK$11.60 HK$15.29 39
5Y EBITDA Exit HK$13.27 HK$20.64 HK$29.64 41
5Y P/E Exit HK$13.91 HK$21.91 HK$30.77 38
10Y Revenue Exit HK$9.73 HK$12.79 HK$17.04 36
10Y EBITDA Exit HK$12.83 HK$19.28 HK$28.60 37
10Y P/E Exit HK$13.25 HK$20.19 HK$29.52 35
Earnings-Based
Graham-Dodd HK$5.44 HK$21.88 HK$29.75 54
Lynch FV HK$5.45 HK$7.79 HK$10.12 50
PEG = 1.0 HK$5.45 HK$7.79 HK$10.12 46
EPV HK$11.18 HK$12.50 HK$13.65 59
Multiples
P/E Multiple HK$12.60 HK$16.80 HK$21.01 63
P/S Multiple HK$4.49 HK$5.99 HK$7.49 58
P/B Multiple HK$10.20 HK$13.60 HK$17.00 55
EV/EBIT HK$15.07 HK$19.00 HK$22.93 53
EV/EBITDA HK$14.83 HK$18.68 HK$22.54 54
EV/Revenue HK$7.05 HK$8.67 HK$10.29 43
Asset-Based
NCAV (Graham) HK$4.10 HK$5.49 HK$8.20 50
Growth DCF
Growth DCF HK$12.27 HK$18.28 HK$28.09 80
Rev-Margin DCF HK$8.71 HK$11.64 HK$15.29 74
Economic Profit
Residual Income HK$7.16 HK$7.93 HK$12.24 76
ROIC Compounder HK$12.02 HK$14.91 HK$18.68 72
Growth Earnings
Growth-Adj P/E HK$9.54 HK$13.64 HK$17.73 68

Widest divergence: DCF Models (HK$19.28) versus Asset-Based (HK$5.49). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$8.8B
Revenue growth (YoY) +1.9%
Net margin 26.7%
Return on equity 10.1%
Free cash flow HK$2.1B FY2025
P/E ratio 8.8 as of Jul 2, 2026
More key figures
Operating margin 16.3%
EPS (TTM) HK$0.4900
EPS growth (YoY) +27.3%
Net cash HK$8.0B FY2025

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

Quality Score breakdown

Overall quality 66/100

Of which business quality 67 · Market factors (momentum, volatility) 34

Profitability 46
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 4
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.

About the company

TravelSky Technology Limited, together with its subsidiaries, provides information technology (IT) solutions for the aviation and travel industries in the People's Republic of China.

Full company description

TravelSky Technology Limited, together with its subsidiaries, provides information technology (IT) solutions for the aviation and travel industries in the People's Republic of China. The company offers aviation information platform services comprising electronic travel distribution services, including inventory control and computer reservation systems; airport passenger processing system services; and information technology services. It also provides accounting, settlement, and clearing services, information system development and support services, and air travel financial services; distribution information technology services; and airport information technology services. In addition, the company provides airport passenger processing and cargo management, e-tourism distribution and freight management, trade financing, domestic and inbound travel, hardware and system consulting, system integration, tourist information consulting, data processing, training, and commercial services. Further, it engages in the sale and installation of related information systems; planning, construction, operation management, technical support, product development, and e-commerce of computer reservation, departure and freight transportation, and other application systems; computer software and hardware development; data network; settlement and liquidation services; computer system engineering design and installation; real estate development and sales; technology development, consulting, transfer, promotion, and support services; software development; self-developed commercial housing contracting; labor service subcontracting; investment management; and sales, leasing, maintenance, and technical consulting of computer software and hardware. TravelSky Technology Limited was founded in 1979 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

TravelSky Technology Limited reported revenue of HK$8.8B in FY2025 versus HK$5.5B in FY2021, a compound +12.5%/yr. Reported net income was HK$2.3B in FY2025, compounding +43.6%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$8.8B
Latest YoY
−0.6%
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.
+18.9%
Avg. 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.
+9.8%
Avg. growth/yr (26Y) ⓘ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.
+11.0%
Revenue +12.5%/yr
FY21 HK$5.5B
FY22 HK$5.2B
FY23 HK$7.0B
FY24 HK$8.8B
FY25 HK$8.8B
Net income +43.6%/yr
FY21 HK$551M
FY22 HK$627M
FY23 HK$1.4B
FY24 HK$2.1B
FY25 HK$2.3B
Character of growth · EPS growth decomposed (2014-2025) −0.3 % p.a.
Revenue per share +4.2 pp

of which total revenue +4.2 pp · buybacks/dilution +0.0 pp

EBIT margin −1.2 pp
Tax rate +0.3 pp
Residual (interest, one-offs) −3.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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TravelSky Technology Limited · Fair Value
HK$19.54 +131%Fair Value
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Cite: Fair Value Calculator (2026). "TravelSky Technology Limited Fair Value". https://www.fairvalue-calculator.com/stock/0696

Peer Group

Information Technology Services · 488 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 66 · Top 25%
Fair Value upside +131% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth 2% · Below median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 8.8× · Cheaper than 75% of peers
P/B 0.99× · Cheaper than median
P/S (TTM) 2.70× · Pricier than 75% of peers
P/FCF 1.4× · Cheaper than median
EV/EBITDA 5.2× · 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 100 · sector 33
FUTURE 10 · sector 31
PAST 41 · sector 35
HEALTH 99 · sector 97
DIVIDEND 0 · sector 36

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.98 $175.76 -26%
Accenture plc ACNN 2,460 MXN 300.07 MXN -88%
Tata Consultancy Services Limited TCS ₹2,350 ₹3,473 +48%
Infosys Limited INFY ₹1,176 ₹1,998 +70%
HCL Technologies Limited HCLTECH ₹1,365 ₹1,722 +26%
Wipro Limited WIPRO ₹183.94 ₹314.26 +71%
Tech Mahindra Limited TECHM ₹1,625 ₹1,521 -6%
Samsung SDS Co 018260 235,500 KRW 235,321 KRW -0%
Persistent Systems Limited PERSISTENT ₹5,474 ₹3,259 -40%
Hyundai Autoever Corporation 307950 433,000 KRW 186,323 KRW -57%

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Frequently asked questions

Is TravelSky Technology Limited (0696) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$19.54 versus a price of HK$8.46, about +131% (undervalued).
What is the fair value of 0696?
Our model-based fair value for TravelSky Technology Limited is HK$19.54 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$8.46.
What is the quality score of 0696?
TravelSky Technology Limited has a Quality Score of 66/100. 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 TravelSky Technology Limited (0696)?
TravelSky Technology Limited reported trailing-twelve-month revenue of about HK$8.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0696?
The net profit margin of TravelSky Technology Limited is about 26.7%, meaning it keeps roughly 26.7% 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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