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SUNeVision Holdings (1686) Fair Value & Analysis

Real Estate · HK · Market cap HK$11.6B

SH SUNeVision Holdings 1686 · HK
PriceHK$5.00
Fair ValueHK$5.07
Upside+1.5%
Quality55/100
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Expensive Growth
Highly profitable · 34.5% net margin
High debt · generates free cash flow
2.76% dividend yield
Ranks above peers (9/14)
Wide moat 79/100
Evidence: High Range HK$3.55 – HK$11.40 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Fair value updated Aug 13, 2026, revised from HK$4.76 to HK$5.07 (+6.5%) since Aug 5, 2026. Share price +6.3% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (HK$3.55 to HK$11.40). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • 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.
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Price vs Fair Value (5 years)

HK$9.45 HK$2.27 Fair Value HK$5.07 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$2.27 – HK$9.45 · fair‑value band HK$3.55 – HK$11.40 · the HK$5.00 price screens below the HK$5.07 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

SUNeVision Holdings (1686) currently trades at HK$5.00, while our model-based Fair Value estimate is HK$5.07, implying the stock looks roughly 1.5% fairly valued today. The Quality Score stands at 55/100 (solid quality), in the Real Estate 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, SUNeVision Holdings generated revenue of HK$3.0B at a net margin of 34.5%. Revenue grew 2.6% year over year. It earns a return on equity of 18.7%. Net debt stands at HK$16.6B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$3.55 (bear case) to HK$11.40 (bull case); at HK$5.00, 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 39% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 2%, 1686 screens richer 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$0.5500 HK$5.36 80
Residual Income HK$2.72 HK$3.48 HK$9.72 76
Rev-Margin DCF — HK$1.43 HK$5.68 74
All 26 models by family
DCF Models
FCF DCF — HK$0.8500 HK$6.27 38
Owner Earnings — — HK$1.65 31
5Y Revenue Exit — HK$1.54 HK$6.19 39
5Y EBITDA Exit HK$2.92 HK$11.43 HK$22.31 41
5Y P/E Exit HK$0.7000 HK$6.82 HK$13.92 38
10Y Revenue Exit — HK$1.02 HK$6.00 36
10Y EBITDA Exit HK$1.16 HK$8.29 HK$19.58 37
10Y P/E Exit — HK$4.91 HK$12.51 35
Earnings-Based
Graham-Dodd HK$2.82 HK$13.35 HK$18.37 54
Lynch FV HK$3.55 HK$5.07 HK$6.59 50
PEG = 1.0 HK$3.55 HK$5.07 HK$6.59 46
EPV — HK$0.2300 HK$1.01 59
Dividend Discount
Gordon GGM HK$1.74 HK$3.63 HK$5.75 70
DDM Multi-Stage HK$1.74 HK$3.06 HK$3.81 61
Multiples
P/E Multiple HK$8.71 HK$11.62 HK$14.52 63
P/S Multiple HK$5.13 HK$6.84 HK$8.56 58
P/B Multiple HK$5.29 HK$7.05 HK$8.82 55
EV/EBIT HK$5.48 HK$9.30 HK$13.11 53
EV/EBITDA HK$6.26 HK$10.34 HK$14.42 54
EV/Revenue — HK$0.2500 HK$2.11 43
Asset-Based
NCAV (Graham) HK$1.22 HK$1.64 HK$2.45 50
Growth DCF
Growth DCF — HK$0.5500 HK$5.36 80
Rev-Margin DCF — HK$1.43 HK$5.68 74
Economic Profit
Residual Income HK$2.72 HK$3.48 HK$9.72 76
ROIC Compounder — HK$0.2300 HK$1.01 72
Growth Earnings
Growth-Adj P/E HK$6.60 HK$9.43 HK$12.26 68

Widest divergence: Growth Earnings (HK$9.43) versus Economic Profit (HK$0.2300). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$3.0B
Revenue growth (YoY) +2.6%
Net margin 34.5%
Return on equity 18.7%
Free cash flow HK$678M FY2025
P/E ratio 19.6 as of Jul 2, 2026
More key figures
Operating margin 50.5%
EPS (TTM) HK$0.1200
Dividend yield 2.8%
EPS growth (YoY) +9.1%
Net debt HK$16.6B FY2025

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

Quality Score breakdown

Overall quality 55/100

Of which business quality 51 · Market factors (momentum, volatility) 18

Profitability 43
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 19
Balance sheet, leverage, solvency risk
Investment 35
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 81
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

SUNeVision Holdings Ltd., an investment holding company, provides data centre and information technology (IT) facility services in Hong Kong. It operates through Data Centre and IT Facilities; and Extra Low Voltage (ELV) and IT systems segments.

Full company description

SUNeVision Holdings Ltd., an investment holding company, provides data centre and information technology (IT) facility services in Hong Kong. It operates through Data Centre and IT Facilities; and Extra Low Voltage (ELV) and IT systems segments. It offers data centre and IT facilities colocation services to allow customers to house their IT infrastructure or equipment; interconnection services to provide customers with interconnectivity; and other managed services. The company also engages in the design, installation, operation, laying, and cabling of extra-low voltage and IT systems, as well as building access, voice, data, power supply systems and network, and other infrastructure networks; and provision of related repair and maintenance services. In addition, it offers IT and optical fiber network, and related maintenance services; and financing, treasury, management, and company secretary services. Further, the company is involved in the property and trademark holding activities. The company was incorporated in 2000 and is headquartered in Kwun Tong, Hong Kong. SUNeVision Holdings Ltd. is a subsidiary of Sunco Resources Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SUNeVision Holdings reported revenue of HK$2.9B in FY2025 versus HK$1.9B in FY2021, a compound +11.9%/yr. Reported net income was HK$979M in FY2025, compounding +5.6%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$2.9B
Latest YoY
+9.9%
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.
+12.1%
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.
+11.4%
Avg. growth/yr (25Y) ⓘ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.
+16.3%
Revenue +11.9%/yr
FY21 HK$1.9B
FY22 HK$2.1B
FY23 HK$2.3B
FY24 HK$2.7B
FY25 HK$2.9B
Net income +5.6%/yr
FY21 HK$788M
FY22 HK$847M
FY23 HK$905M
FY24 HK$907M
FY25 HK$979M
Character of growth · EPS growth decomposed (2014-2025) +5.6 % p.a.
Revenue per share +12.4 pp

of which total revenue +12.5 pp · buybacks/dilution −0.1 pp

EBIT margin −2.0 pp
Tax rate −0.2 pp
Residual (interest, one-offs) −4.6 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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SUNeVision Holdings · Fair Value
HK$5.07 +2%Fair Value
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Cite: Fair Value Calculator (2026). "SUNeVision Holdings Fair Value". https://www.fairvalue-calculator.com/stock/1686

Peer Group

Real Estate Services · 529 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 56 · Above median
Fair Value upside +2% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 34% · Above median
Operating margin (TTM) 51% · Above median
Revenue growth 3% · Above median
Dividend yield (TTM) 2.8% · Above median
Debt / equity 2.52× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 19.6× · Pricier than median
P/B 2.00× · Pricier than 75% of peers
P/S (TTM) 3.89× · Pricier than median
P/FCF 2.2× · Pricier than median
EV/EBITDA 13.3× · Cheaper than median

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 35 · sector 35
FUTURE 13 · sector 10
PAST 75 · sector 16
HEALTH 0 · sector 85
DIVIDEND 55 · sector 50

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

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is SUNeVision Holdings (1686) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$5.07 versus a price of HK$5.00, about +2% (fairly valued).
What is the fair value of 1686?
Our model-based fair value for SUNeVision Holdings is HK$5.07 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$5.00.
What is the quality score of 1686?
SUNeVision Holdings has a Quality Score of 55/100. 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 SUNeVision Holdings (1686)?
SUNeVision Holdings reported trailing-twelve-month revenue of about HK$3.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1686?
The net profit margin of SUNeVision Holdings is about 34.5%, meaning it keeps roughly 34.5% of revenue as net income. Based on the latest reported figures.
Does SUNeVision Holdings pay a dividend?
SUNeVision Holdings currently shows a dividend yield of about 2.76% relative to its recent price (as of Aug 13, 2026).

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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