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SUNeVision Holdings Ltd (1686) Fair Value & Analysis

Real Estate · HK · Market cap HK$11.6B (≈ $1.5B) · ISIN KYG857001054

What is SUNeVision Holdings Ltd really worth?

SH SUNeVision Holdings Ltd 1686 · HK
PriceHK$5.64
Fair ValueHK$5.07
Upside−10.1%
Quality55/100

A solid business, but trading 11% above our fair value of HK$5.07.

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Strengths

✓Highly profitable · 34.5% net margin
✓Wide moat 79/100

Risks

!Expensive Growth (revenue 5y +11.4 %/yr)
!High debt · generates free cash flow
!Mixed vs. peers (7/14)
!Evidence only low, so the estimate is less certain
!The models disagree: range HK$3.55 to HK$11.30
!Weak on valuation: 20 out of 100

For context

·2.13% dividend yield
Evidence: Low Range HK$3.55 – HK$11.30

Fair value as of: Aug 29, 2026

From 26 valuation models · updated 6 days ago

Share price +14.6% 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 model range is unusually wide (HK$3.55 to HK$11.30). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • 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$9.45 HK$2.27 Fair Value HK$5.07 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range HK$2.27 – HK$9.45 · fair‑value band HK$3.55 – HK$11.30 · the HK$5.64 price screens above the HK$5.07 fair value. Dashed = 300-day average. As of Aug 29, 2026.

Full chart & analysis →

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Analysis

SUNeVision Holdings Ltd (1686) currently trades at HK$5.64, while our model-based Fair Value estimate is HK$5.07, implying the stock looks roughly 11.2% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Real Estate sector. Bull case: the Growth Earnings group reads highest at a median of HK$9.43 per share, and 10 of the 25 models we run sit above the HK$5.64 price. Bear case: the Growth DCF group reads lowest at HK$0.5500, and 15 of the 25 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, SUNeVision Holdings Ltd 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 29, 2026

Our scenario range runs from HK$3.55 (bear case) to HK$11.30 (bull case); at HK$5.64, 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 32% below its 52-week high and 33% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −23% fair-value upside, at −10%, 1686 screens cheaper than that median.

Fair Value models

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 best evidence — HK$0.8500 HK$6.27 77
Growth DCF — HK$0.5500 HK$5.36 75
Owner Earnings — — HK$1.65 73
All 26 models by family
DCF Models
FCF DCF best evidence — HK$0.8500 HK$6.27 77
Owner Earnings — — HK$1.65 73
5Y Revenue Exit — HK$1.54 HK$6.19 69
5Y EBITDA Exit HK$2.92 HK$11.43 HK$22.31 69
5Y P/E Exit HK$0.7000 HK$6.82 HK$13.92 64
10Y Revenue Exit — HK$1.02 HK$6.00 64
10Y EBITDA Exit HK$1.16 HK$8.29 HK$19.58 60
10Y P/E Exit — HK$4.91 HK$12.51 61
Earnings-Based
Graham-Dodd HK$2.82 HK$13.35 HK$18.37 64
Lynch FV HK$3.55 HK$5.07 HK$6.59 61
PEG = 1.0 HK$3.55 HK$5.07 HK$6.59 57
EPV — HK$0.2300 HK$1.01 68
Dividend Discount
Gordon GGM HK$1.74 HK$3.63 HK$5.75 66
DDM Multi-Stage HK$1.74 HK$3.06 HK$3.81 66
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 64
EV/EBITDA HK$6.26 HK$10.34 HK$14.42 65
EV/Revenue — HK$0.2500 HK$2.11 50
Asset-Based
NCAV (Graham) HK$1.22 HK$1.64 HK$2.45 54
Growth DCF
Growth DCF — HK$0.5500 HK$5.36 75
Rev-Margin DCF — HK$1.43 HK$5.68 69
Economic Profit
Residual Income HK$2.72 HK$3.48 HK$9.72 67
ROIC Compounder — HK$0.2300 HK$1.01 68
Growth Earnings
Growth-Adj P/E HK$6.60 HK$9.43 HK$12.26 67

Widest divergence: Growth Earnings (HK$9.43) versus Economic Profit (HK$0.2300). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 19.7 as of Aug 24, 2026
P/S ratio 6.56 P/E × margin
Dividend yield 2.1%
Net margin 33.3% FY2025
Return on equity 18.7% TTM
Return on assets (EBIT) 5.7% avg 5y
More key figures
Profitability
Operating margin 50.5% TTM
Growth
Revenue (TTM) HK$3.0B TTM
Revenue growth (YoY) +2.6% 3y avg +12.1%
EPS growth (YoY) +9.1%
Balance sheet & cash flow
Free cash flow HK$678M FY2025
Net debt HK$16.6B FY2025 · ≈ 24.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 51 · Market factors (momentum, volatility) 26

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 35
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 19
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.

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

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 Ltd 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. 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.
+12.1%
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.
+11.4%
Avg. revenue 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%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+6.6% (4.5 + 2.1)
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 %

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

EBIT margin −2.0 %
Tax rate −0.2 %
Residual (interest, one-offs) −4.0 %

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).

1686 screens 11% overvalued. Compare with CBRE Group →

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HK$5.07 −11%Fair Value
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Cite: Fair Value Calculator (2026). "SUNeVision Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/1686

Peer Group

Real Estate Services · 523 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 −10% · Below 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) 2.1% · Below median
Debt / equity 2.52× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 19.7× · Pricier than median
P/B 2.01× · Pricier than 75% of peers
P/S (TTM) 3.90× · Pricier than median
P/FCF 2.2× · Pricier than median
EV/EBITDA 13.3× · Cheaper 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
VALUE20 · sector 30
FUTURE13 · sector 11
PAST75 · sector 17
HEALTH0 · sector 84
DIVIDEND43 · sector 63

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 Services stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
CBRE Group CBRE $148.74 $69.47 −53%
Vonovia SE VNA €19.85 €36.67 +85%
Cellnex Telecom, S.A CLNX €27.47 €25.46 −7%
KE Holdings BEKE $17.42 $6.57 −62%
Jones Lang LaSalle Incorporated JLL $378.01 $290.25 −23%
Swire Properties Limited 1972 HK$24.84 HK$5.12 −79%
CoStar Group CSGP $32.22 $4.64 −86%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.84 HK$34.95 −12%
CapitaLand Investment Limited 9CI 2.66 SGD 0.4900 SGD −82%
Plaza S.A MALLPLAZA 4,040 CLP 4,571 CLP +13%

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Frequently asked questions

Is SUNeVision Holdings Ltd (1686) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of HK$5.07 versus a price of HK$5.64, about −10% upside (overvalued).
What is the fair value of 1686?
Our model-based fair value for SUNeVision Holdings Ltd is HK$5.07 (as of Aug 29, 2026), built from audited fundamentals. The current price: HK$5.64.
What is the quality score of 1686?
SUNeVision Holdings Ltd 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 Ltd (1686)?
SUNeVision Holdings Ltd reported trailing-twelve-month revenue of about HK$3.0B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of 1686?
The net profit margin of SUNeVision Holdings Ltd is about 34.5%, meaning it keeps roughly 34.5% of revenue as net income. Based on the latest reported figures.
Does SUNeVision Holdings Ltd pay a dividend?
SUNeVision Holdings Ltd currently shows a dividend yield of about 2.13% relative to its recent price (as of Aug 29, 2026).
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