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TravelSky Technology Ltd (0696) Fair Value & Analysis

Technology · HK · Market cap HK$23.6B (≈ $3.0B) · ISIN CNE1000004J3

What is TravelSky Technology Ltd really worth?

TT TravelSky Technology Ltd 0696 · HK
PriceHK$8.86
Fair ValueHK$19.54
Upside+120.5%
Quality66/100

A solid business, trading 55% below our fair value of HK$19.54.

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Strengths

✓Highly profitable · 26.7% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (12/14)

Risks

!Mixed Growth (revenue 5y +9.8 %/yr)
!Moderate moat 60/100
!Weak on future: 10 out of 100
Evidence: High Range HK$14.65 – HK$24.42

Fair value as of: Aug 18, 2026

From 24 valuation models · updated 17 days ago

Share price +4.7% over the past month.

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 →

What matters now

  • The price is below even our cautious bear case (HK$14.65). 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.

Price vs Fair Value (5 years)

HK$17.18 HK$7.14 Fair Value HK$19.54 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range HK$7.14 – HK$17.18 · fair‑value band HK$14.65 – HK$24.42 · the HK$8.86 price screens below the HK$19.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 18, 2026.

Full chart & analysis →

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Analysis

TravelSky Technology Ltd (0696) currently trades at HK$8.86, while our model-based Fair Value estimate is HK$19.54, implying the stock looks roughly 54.7% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of HK$19.28 per share, and 18 of the 24 models we run sit above the HK$8.86 price. Bear case: the Asset-Based group reads lowest at HK$5.49, and 6 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, TravelSky Technology Ltd 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 18, 2026

Our scenario range runs from HK$14.65 (bear case) to HK$24.42 (bull case); at HK$8.86, 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 33% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 69% fair-value upside, at 121%, 0696 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.3316 per share, which is 1.7 % 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$12.24 HK$18.55 HK$28.96 79
Growth DCF HK$12.27 HK$18.28 HK$28.09 78
Owner Earnings HK$12.83 HK$19.54 HK$30.63 75
All 24 models by family
DCF Models
FCF DCF HK$12.24 HK$18.55 HK$28.96 79
Owner Earnings HK$12.83 HK$19.54 HK$30.63 75
5Y Revenue Exit HK$8.71 HK$11.60 HK$15.29 74
5Y EBITDA Exit HK$13.27 HK$20.64 HK$29.64 75
5Y P/E Exit HK$13.91 HK$21.91 HK$30.77 70
10Y Revenue Exit HK$9.73 HK$12.79 HK$17.04 68
10Y EBITDA Exit HK$12.83 HK$19.28 HK$28.60 68
10Y P/E Exit HK$13.25 HK$20.19 HK$29.52 63
Earnings-Based
Graham-Dodd HK$5.44 HK$21.88 HK$29.75 64
Lynch FV HK$5.45 HK$7.79 HK$10.12 61
PEG = 1.0 HK$5.45 HK$7.79 HK$10.12 57
EPV HK$11.18 HK$12.50 HK$13.65 74
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 66
EV/EBITDA HK$14.83 HK$18.68 HK$22.54 67
EV/Revenue HK$7.05 HK$8.67 HK$10.29 54
Asset-Based
NCAV (Graham) HK$4.10 HK$5.49 HK$8.20 54
Growth DCF
Growth DCF HK$12.27 HK$18.28 HK$28.09 78
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 75
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 67

Widest divergence: DCF Models (HK$19.28) versus Asset-Based (HK$5.49). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 8.8 as of Jul 2, 2026
P/S ratio 2.35 P/E × margin
EPS (TTM) HK$0.4900 price ÷ EPS = P/E 8.8
Dividend yield 2.9% payout 52.1%
Net margin 26.7% FY2025
Return on equity 10.1% TTM
More key figures
Profitability
Return on assets (EBIT) 5.5% avg 5y
Operating margin 16.3% TTM
Growth
Revenue (TTM) HK$8.8B TTM
Revenue growth (YoY) +1.9% 3y avg +18.9%
EPS growth (YoY) +27.3%
Balance sheet & cash flow
Free cash flow HK$2.1B FY2025
Net cash HK$8.0B FY2025

Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 67 · Market factors (momentum, volatility) 40

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 87
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 13
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

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 Ltd reported revenue of 8.8B CNY in FY2025 versus 5.5B CNY in FY2021, a compound +12.5%/yr. Reported net income was 2.3B CNY 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. 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.
+18.9%
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.
+9.8%
Avg. revenue 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%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+36.4% (33.5 + 2.9)
Revenue +12.5%/yr
FY21 5.5B CNY
FY22 5.2B CNY
FY23 7.0B CNY
FY24 8.8B CNY
FY25 8.8B CNY
Net income +43.6%/yr
FY21 551M CNY
FY22 627M CNY
FY23 1.4B CNY
FY24 2.1B CNY
FY25 2.3B CNY
Character of growth · EPS growth decomposed (2014-2025) −0.3 % p.a.
Revenue per share +4.2 %

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

EBIT margin −1.2 %
Tax rate +0.3 %
Residual (interest, one-offs) −3.5 %

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). "TravelSky Technology Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0696

Peer Group

Information Technology Services · 486 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 +121% · 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
Dividend yield (TTM) 2.9% · Above 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

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
VALUE100 · sector 34
FUTURE10 · sector 31
PAST41 · sector 33
HEALTH99 · sector 97
DIVIDEND58 · 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

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.59 $175.76 −25%
Accenture plc ACN $189.61 $334.27 +76%
Tata Consultancy Services Limited TCS ₹2,302 ₹3,473 +51%
Infosys Limited INFY ₹1,156 ₹1,958 +69%
HCL Technologies Limited HCLTECH ₹1,282 ₹1,722 +34%
Fiserv, Inc FI C$5.13 C$8.07 +57%
Wipro Limited WIT $1.83 $3.51 +92%
Fidelity National Information Services, Inc FIS $41.34 $19.28 −53%
Cognizant Technology Solutions Corporation CTSH $64.04 $132.01 +106%
Capgemini SE CAP €109.45 €222.79 +104%

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Frequently asked questions

Is TravelSky Technology Ltd (0696) overvalued or undervalued?
As of Aug 18, 2026, our model estimates a fair value of HK$19.54 versus a price of HK$8.86, about +121% upside (undervalued).
What is the fair value of 0696?
Our model-based fair value for TravelSky Technology Ltd is HK$19.54 (as of Aug 18, 2026), built from audited fundamentals. The current price: HK$8.86.
What is the quality score of 0696?
TravelSky Technology Ltd 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 Ltd (0696)?
TravelSky Technology Ltd reported trailing-twelve-month revenue of about HK$8.8B (latest available figure, as of Aug 18, 2026).
What is the net profit margin of 0696?
The net profit margin of TravelSky Technology Ltd is about 26.7%, meaning it keeps roughly 26.7% of revenue as net income. Based on the latest reported figures.
Does TravelSky Technology Ltd pay a dividend?
TravelSky Technology Ltd currently shows a dividend yield of about 2.88% relative to its recent price (as of Aug 18, 2026).
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