Kingboard Laminates Holdings Ltd (1888) fair value: what the stock is really worth
We calculate from audited financials what Kingboard Laminates Holdings Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
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Technology · HK · Market cap HK$264B (≈ $33.7B) · ISIN KYG5257K1076
At a glance
KLKingboard Laminates Holdings Ltd1888 · HK
PriceHK$48.62
Fair ValueHK$8.95
Upside−81.6% ⚠
Quality62/100
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
A solid business, but trading 443% above our fair value of HK$8.95.
As of Aug 25, 2026, the fair value of Kingboard Laminates Holdings Ltd is HK$8.95 per share against a price of HK$48.62, so the fair value sits 82% below the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y +3.4 %/yr)
✓Solidly profitable · 12.0% net margin
!Low debt · negative free cash flow
·0.93% dividend yield
!Mixed vs. peers (7/14)
!Moderate moat 55/100
!Weak on dividend: 19 out of 100
Evidence: HighRange HK$5.27 to HK$12.59
Fair value as of: Aug 25, 2026
From 16 valuation models · updated 17 days ago
Share price +39.1% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
The price sits above even our optimistic bull case (HK$12.59). The favourable scenario is already priced in.
Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
A fairly wide model range (HK$5.27 to HK$12.59) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.
How to read this chart
60‑month range HK$4.35 – HK$104.20 · fair‑value band HK$5.27 – HK$12.59 · the HK$48.62 price screens above the HK$8.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 25, 2026.
Kingboard Laminates Holdings Ltd (1888) currently trades at HK$48.62, while our model-based Fair Value estimate is HK$8.95, implying the stock looks roughly 443.2% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of HK$17.85 per share, and 0 of the 16 models we run sit above the HK$48.62 price. Bear case: the Asset-Based group reads lowest at HK$3.47, and 16 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Kingboard Laminates Holdings Ltd generated revenue of HK$20.4B at a net margin of 12.0%. Revenue grew 9.2% year over year. It earns a return on equity of 15.4%. Net debt stands at HK$3.0B. Fundamentals as of Aug 25, 2026
Scenario range: HK$5.27 (bear) to HK$12.59 (bull), the price of HK$48.62 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 55% below its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −64% fair-value upside, at −82%, 1888 screens richer than that median.
Fair Value models
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio107.4as of Jul 2, 2026
P/S ratio12.9P/E × margin
EPS (TTM)HK$0.3000price ÷ EPS = P/E 107.4
Dividend yield0.9%payout 150%
Net margin12.0%FY2025
Return on equity15.4%TTM
More key figures
Profitability
Return on assets (EBIT)13.7%avg 5y
Operating margin14.3%TTM
Growth
Revenue (TTM)HK$20.4BTTM
Revenue growth (YoY)+9.2%3y avg −3.0%
EPS growth (YoY)+151%
Balance sheet & cash flow
Free cash flow−HK$74.8MFY2025
Net debtHK$3.0BFY2025
Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality62/100
Of which business quality 58
· Market factors (momentum, volatility) 52
Profitability52
Margins and returns on capital today
Quality Growth65
Are margins and returns improving?
Cashflow12
Earnings quality: real cash, not paper profit
Fin. Strength76
Balance sheet, leverage, solvency risk
Investment85
Disciplined investing over empire-building
Low Volatility8
Calm price path (market factor)
Momentum72
Price trend over the last 3–12 months (market factor)
52W Momentum70
Distance to the 52-week high (market factor)
Net Issuance79
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
Kingboard Laminates Holdings Limited, an investment holding company, engages in the manufacture and sale of laminates in the People's Republic of China, Europe, other Asian countries, and the United States. It operates through Laminates, Properties, and Investments segments. The company offers glass epoxy and paper laminates.
Full company description
Kingboard Laminates Holdings Limited, an investment holding company, engages in the manufacture and sale of laminates in the People's Republic of China, Europe, other Asian countries, and the United States. It operates through Laminates, Properties, and Investments segments. The company offers glass epoxy and paper laminates. It also provides upstream component materials, such as copper foils, glass yarns, glass fabrics, bleached kraft papers, epoxy resins, kraft papers for copper-clad laminates, and PVB. In addition, it sells and rents properties; trades in copper; and provides hotel accommodation services. Further, the company manufactures and distributes chemicals; electronic special materials; and specialty resins. Its investment property portfolio comprises commercial, residential, and industrial properties. The company was founded in 1988 and is headquartered in Sha Tin, Hong Kong. Kingboard Laminates Holdings Limited operates as a subsidiary of Jamplan (BVI) Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Kingboard Laminates Holdings Ltd reported revenue of HK$20.4B in FY2025 versus HK$28.8B in FY2021, a compound −8.3%/yr. Reported net income was HK$2.4B in FY2025, compounding −22.5%/yr from FY2021.
Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$20.4B
Latest YoY
+10.0%
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.
−3.0%
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.
+3.4%
Avg. revenue growth/yr (22Y) ⓘ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.
+9.1%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
≈ −4.8%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−5.7%
Dividend yield0.9%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −2.8% vs 10Y 6.3%, flattening
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20.8% (2020) → 13.2% (2025) · falling
Worst earnings drop87% (2023) · in HKD
⚠ Final year 2025 sits 84% above trend (one-off), rate on operating basis
Revenue−8.3%/yr
FY21HK$28.8B
FY22HK$22.4B
FY23HK$16.8B
FY24HK$18.5B
FY25HK$20.4B
Net income−22.5%/yr
FY21HK$6.8B
FY22HK$1.9B
FY23HK$907M
FY24HK$1.3B
FY25HK$2.4B
Character of growth · EPS growth decomposed (2014-2025)−4.4 % p.a.
Revenue per share+2.8 %
of which total revenue +3.3 % · buybacks/dilution −0.4 %
EBIT margin−1.1 %
Tax rate−1.2 %
Residual (interest, one-offs)−4.9 %
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).
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
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.
This stockSector peers
VALUE0· sector 0
FUTURE46· sector 40
PAST62· sector 26
HEALTH98· sector 95
DIVIDEND19· sector 24
VALUE 0: the price sits above our fair-value range.
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
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Is Kingboard Laminates Holdings Ltd (1888) overvalued or undervalued?
As of Aug 25, 2026, our model estimates a fair value of HK$8.95 versus a price of HK$48.62, about −82% upside (overvalued).
What is the fair value of 1888?
Our model-based fair value for Kingboard Laminates Holdings Ltd is HK$8.95 (as of Aug 25, 2026), built from audited fundamentals. The current price: HK$48.62.
What is the quality score of 1888?
Kingboard Laminates Holdings Ltd has a Quality Score of 62/100. 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 price target for Kingboard Laminates Holdings Ltd (1888)?
Our model-based price target is the fair value of HK$8.95 (as of Aug 25, 2026) from 16 valuation models. Cautious scenario HK$5.27, optimistic scenario HK$12.59. It is a calculation from audited fundamentals, not an analyst target.
What is the Kingboard Laminates Holdings Ltd stock forecast for 2026?
Our models put fair value at HK$8.95, about −82% upside versus a price of HK$48.62 (overvalued). Cautious scenario HK$5.27, optimistic scenario HK$12.59. The calculation is refreshed regularly with new filings.
What is the revenue of Kingboard Laminates Holdings Ltd (1888)?
Kingboard Laminates Holdings Ltd reported trailing-twelve-month revenue of about HK$20.4B (latest available figure, as of Aug 25, 2026).
What is the net profit margin of 1888?
The net profit margin of Kingboard Laminates Holdings Ltd is about 12.0%, meaning it keeps roughly 12.0% of revenue as net income. Based on the latest reported figures.
Does Kingboard Laminates Holdings Ltd pay a dividend?
Kingboard Laminates Holdings Ltd currently shows a dividend yield of about 0.93% relative to its recent price (as of Aug 25, 2026).
What is the intrinsic value of Kingboard Laminates Holdings Ltd (1888)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kingboard Laminates Holdings Ltd it is HK$8.95 per share (as of Aug 25, 2026), against a price of HK$48.62. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Kingboard Laminates Holdings Ltd stock overvalued or undervalued in 2026?
As of Aug 25, 2026, 1888 trades above its calculated fair value: price HK$48.62, fair value HK$8.95, a gap of about −82% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1888?
No. The price is what the market pays today (HK$48.62); the fair value is what the company's own numbers justify (HK$8.95). For Kingboard Laminates Holdings Ltd the two are HK$39.67 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kingboard Laminates Holdings Ltd worth?
The market values Kingboard Laminates Holdings Ltd at about HK$264B (market capitalisation, as of Aug 25, 2026). Per share that is HK$48.62; our models calculate a fair value of HK$8.95 per share.
What do the bullish and bearish scenarios say about 1888?
Our models span a range for Kingboard Laminates Holdings Ltd: cautious scenario HK$5.27, base HK$8.95, optimistic HK$12.59 per share (as of Aug 25, 2026, price HK$48.62). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 1888?
Kingboard Laminates Holdings Ltd trades at a price-to-earnings ratio of 107.4 (as of Aug 25, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$8.95 is built from several models across several years. Other multiples: PEG 1.9, P/B 16.2, P/S 12.9, EV/EBITDA 72.7.
What is the PEG ratio of 1888?
The PEG ratio of Kingboard Laminates Holdings Ltd is 1.87 (P/E divided by earnings growth, as of Aug 25, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kingboard Laminates Holdings Ltd (1888)?
Balance-sheet figures for Kingboard Laminates Holdings Ltd (as of Aug 25, 2026): return on equity 15.4%, debt of 0.04 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 1888 from its 52-week high?
Kingboard Laminates Holdings Ltd trades at HK$48.62, about 55% below its 52-week high of HK$107.20 and 431% above the low of HK$9.15 (as of Aug 25, 2026). Distance from the high says nothing about value: that is what the fair value of HK$8.95 is for.
Which stocks are comparable to Kingboard Laminates Holdings Ltd?
From the same area (Technology) we also value Amphenol Corporation, Corning Incorporated, Delta Electronics, Inc, Luxshare Precision Industry Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kingboard Laminates Holdings Ltd stock attractive at the current price?
The data as of Aug 25, 2026: price HK$48.62, calculated fair value HK$8.95 (−82%), Quality Score 62/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1888 calculated?
We run Kingboard Laminates Holdings Ltd through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$8.95, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. Kingboard Laminates Holdings Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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