BOC Hong Kong Holdings Ltd (2388) Fair Value & Analysis
Financial Services · HK · Market cap HK$447B (≈ $57.0B) · ISIN HK2388011192
What is BOC Hong Kong Holdings Ltd really worth?
A solid business, currently priced close to our fair value of HK$48.24.
Strengths
Risks
For context
Fair value as of: Aug 21, 2026
From 6 valuation models · updated 15 days ago
Share price +4.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range HK$15.17 – HK$52.85 · fair‑value band HK$36.18 – HK$60.29 · the HK$52.85 price screens above the HK$48.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
Analysis
BOC Hong Kong Holdings Ltd (2388) currently trades at HK$52.85, while our model-based Fair Value estimate is HK$48.24, implying the stock looks roughly 9.6% fairly valued today. The Quality Score stands at 50/100 (solid quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of HK$47.47 per share, and 0 of the 6 models we run sit above the HK$52.85 price. Bear case: the Asset-Based group reads lowest at HK$22.72, and 6 of the 6 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, BOC Hong Kong Holdings Ltd generated revenue of HK$68.7B at a net margin of 58.4%. Revenue declined 2.7% year over year. It earns a return on equity of 11.7%. Net debt stands at HK$7.5B. Fundamentals as of Aug 21, 2026
Our scenario range runs from HK$36.18 (bear case) to HK$60.29 (bull case); at HK$52.85, 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 near its 52-week high and 66% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −9%, 2388 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.
All 6 models by family
Widest divergence: Multiples (HK$47.47) versus Asset-Based (HK$22.72). Highest evidence: Residual Income (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 86
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
BOC Hong Kong (Holdings) Limited, an investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally. The company operates through four segments: Personal Banking, Corporate Banking, Treasury, and Insurance.
Full company description
BOC Hong Kong (Holdings) Limited, an investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally. The company operates through four segments: Personal Banking, Corporate Banking, Treasury, and Insurance. It offers savings, current, and time deposit accounts, as well as monthly deposit plans; mortgage plans; corporate deposits, and payroll and e-cheque services. The company also offers cross-border financial and remittance services; and securities, funds, foreign exchange services, precious metals and FX margin services, currency linked investments, bonds, market information services, monthly savings plans, and structured products, as well as business and personal loans. In addition, it provides business and accident protection, medical, travel and leisure, family protection, RMB, and personal life insurance products; and credit cards. Further, the company offers safe deposit box, e-bill, and payment services; personal and corporate RMB, and RMB clearing bank services; business comprehensive, property, liability, group, and retailer comprehensive insurance plans; small business, asset-pledge, and syndicated loans; accounts receivable, machinery and equipment, SME green, and project financing; business banking, trade finance and services, investment, treasury, corporate collection and payment, e-commerce, and card services; and custody and cash management services. Additionally, it provides wealth management and overdraft services; mandatory provident fund schemes; and private and corporate banking services, as well as internet, phone, and mobile banking services; and trade related products and other credit facilities. BOC Hong Kong (Holdings) Limited was founded in 1917 and is based in Central, Hong Kong. BOC Hong Kong (Holdings) Limited is a subsidiary of BOC Hong Kong (BVI) Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
BOC Hong Kong Holdings Ltd reported revenue of HK$68.7B in FY2025 versus HK$76.9B in FY2021, a compound −2.8%/yr. Reported net income was HK$40.1B in FY2025, compounding +13.3%/yr from FY2021.
of which total revenue +5.9 % · buybacks/dilution +0.0 %
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).
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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- BOC Hong Kong (Holdings) (SEHK:2388) Looks Fairly Valued After First Half Earnings
- BOC Hong Kong (BHKLY) Is a Great Choice for 'Trend' Investors, Here's Why
- Here's What Could Help BOC Hong Kong (BHKLY) Maintain Its Recent Price Strength
Peer Group
Banks - Regional · 1071 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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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