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Dekon Food & Agriculture Group (2419) Fair Value & Analysis

Consumer Defensive · HK · Market cap HK$18.0B (≈ $2.3B) · ISIN CNE1000068G4

What is Dekon Food & Agriculture Group really worth?

DF Dekon Food & Agriculture Group 2419 · HK
PriceHK$62.00
Fair ValueHK$99.24
Upside+60.1%
Quality48/100

Below-average quality, trading 38% below our fair value of HK$99.24.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +22.6 %/yr)
!Thin margins · 6.2% net margin
!Trails peers (5/14)
!Narrow moat 38/100
Evidence: High Range HK$67.16 – HK$124.86

Fair value as of: Sep 5, 2026

From 26 valuation models · updated today

Share price +18.5% 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 is below even our cautious bear case (HK$67.16). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$67.16 to HK$124.86) leaves room in how you read the outcome.

Price vs Fair Value (3 years)

HK$104.80 HK$26.28 Fair Value HK$99.24 Dec 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

33‑month range HK$26.28 – HK$104.80 · fair‑value band HK$67.16 – HK$124.86 · the HK$62.00 price screens below the HK$99.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Dekon Food & Agriculture Group (2419) currently trades at HK$62.00, while our model-based Fair Value estimate is HK$99.24, implying the stock looks roughly 37.5% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of HK$314.21 per share, and 23 of the 26 models we run sit above the HK$62.00 price. Bear case: the Dividend Discount group reads lowest at HK$35.62, and 3 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Dekon Food & Agriculture Group generated revenue of HK$23.2B at a net margin of 6.2%. Revenue declined 12.2% year over year. It earns a return on equity of 16.8%. Net debt stands at HK$1.2B. Fundamentals as of Sep 5, 2026

Our scenario range runs from HK$67.16 (bear case) to HK$124.86 (bull case); at HK$62.00, 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 share trades about 44% below its 52-week high and 64% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −19% fair-value upside, at 60%, 2419 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 HK$119.40 HK$180.41 HK$374.69 76
Growth DCF HK$113.08 HK$199.14 HK$373.09 75
EPV HK$92.40 HK$105.62 HK$117.20 74
All 26 models by family
DCF Models
FCF DCF HK$119.40 HK$180.41 HK$374.69 76
Owner Earnings HK$114.50 HK$243.95 HK$515.70 71
5Y Revenue Exit HK$108.42 HK$185.22 HK$342.28 69
5Y EBITDA Exit HK$218.63 HK$413.19 HK$787.11 71
5Y P/E Exit HK$182.25 HK$403.50 HK$702.81 67
10Y Revenue Exit HK$108.35 HK$224.34 HK$319.42 66
10Y EBITDA Exit HK$191.53 HK$451.81 HK$952.94 63
10Y P/E Exit HK$165.30 HK$376.74 HK$756.48 59
Earnings-Based
Graham-Dodd HK$61.62 HK$429.73 HK$603.07 63
Lynch FV HK$148.31 HK$211.87 HK$275.43 61
PEG = 1.0 HK$148.31 HK$211.87 HK$275.43 57
EPV HK$92.40 HK$105.62 HK$117.20 74
Dividend Discount
Gordon GGM HK$20.32 HK$42.24 HK$67.02 66
DDM Multi-Stage HK$20.32 HK$35.62 HK$44.34 66
Multiples
P/E Multiple HK$190.30 HK$253.73 HK$317.16 63
P/S Multiple HK$115.54 HK$154.05 HK$192.56 58
P/B Multiple HK$115.54 HK$154.05 HK$192.56 55
EV/EBIT HK$179.71 HK$235.27 HK$290.84 66
EV/EBITDA HK$252.58 HK$332.43 HK$412.29 67
EV/Revenue HK$97.29 HK$133.41 HK$169.52 54
Asset-Based
NCAV (Graham) HK$28.75 HK$38.52 HK$57.50 54
Growth DCF
Growth DCF HK$113.08 HK$199.14 HK$373.09 75
Rev-Margin DCF HK$108.42 HK$209.93 HK$373.34 69
Economic Profit
Residual Income HK$60.24 HK$80.48 HK$256.34 64
ROIC Compounder HK$115.26 HK$169.50 HK$212.73 72
Growth Earnings
Growth-Adj P/E HK$219.94 HK$314.21 HK$408.47 67

Widest divergence: Growth Earnings (HK$314.21) versus Dividend Discount (HK$35.62). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 11.0 as of Jul 2, 2026
P/S ratio 0.68 P/E × margin
Dividend yield 1.9%
Net margin 6.2% FY2026
Return on equity 16.8% TTM
Return on assets (EBIT) 1.3% avg 5y
More key figures
Profitability
Operating margin 2.1% TTM
Growth
Revenue (TTM) HK$23.2B TTM
Revenue growth (YoY) −12.2% 3y avg +14.5%
EPS growth (YoY) −89.9%
Balance sheet & cash flow
Free cash flow HK$974M FY2026
Net debt HK$1.2B FY2026 · ≈ 1.3 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 49 · Market factors (momentum, volatility) 27

Profitability 47
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 25
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 17
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

Dekon Food and Agriculture Group engages in the livestock and poultry breeding and farming businesses. The company operates through three segments: Pig, Poultry, and Ancillary Products. It provides market hogs, breeding pigs, market piglets, and boar semen; yellow-feathered broilers and chicks; and feed ingredients, fresh meat, and other ancillary products.

Full company description

Dekon Food and Agriculture Group engages in the livestock and poultry breeding and farming businesses. The company operates through three segments: Pig, Poultry, and Ancillary Products. It provides market hogs, breeding pigs, market piglets, and boar semen; yellow-feathered broilers and chicks; and feed ingredients, fresh meat, and other ancillary products. The company was founded in 2011 and is based in Chengdu, China.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Dekon Food & Agriculture Group reported revenue of 22.6B CNY in FY2026 versus 9.9B CNY in FY2022, a compound +22.9%/yr. Reported net income was 1.4B CNY in FY2026.

Growth Quality 90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
HK$22.6B
Latest YoY
+0.4%
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.
+14.5%
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.
+22.6%
Avg. revenue growth/yr (7Y) 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.
+31.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−12.8% (−14.7 + 1.9)
Revenue +22.9%/yr
FY22 9.9B CNY
FY23 15.0B CNY
FY24 16.1B CNY
FY25 22.5B CNY
FY26 22.6B CNY
Net income
FY22 −3.6B CNY
FY23 993M CNY
FY24 −1.8B CNY
FY25 4.1B CNY
FY26 1.4B CNY

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Cite: Fair Value Calculator (2026). "Dekon Food & Agriculture Group Fair Value". https://www.fairvalue-calculator.com/stock/2419

Peer Group

Farm Products · 293 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 48 · Below median
Fair Value upside +60% · Top 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 2% · Below median
Revenue growth −12% · Bottom 25%
Dividend yield (TTM) 1.9% · Below median
Debt / equity 0.29× · Higher than median

Valuation Multiples vs Farm Products median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than median
P/B 2.04× · Pricier than 75% of peers
P/S (TTM) 0.78× · Pricier than median
P/FCF 2.4× · Pricier than median
EV/EBITDA 6.2× · Pricier 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
VALUE100 · sector 25
FUTURE0 · sector 21
PAST67 · sector 19
HEALTH85 · sector 94
DIVIDEND38 · sector 49

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 Farm Products stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Archer-Daniels-Midland Company ADM $81.54 $38.02 −53%
Muyuan Foods Group 002714 ¥40.15 ¥47.42 +18%
Bunge Global SA BG $111.57 $56.19 −50%
Tyson Foods, Inc TSN $55.40 $28.60 −48%
Wens Foodstuff Group 300498 ¥13.80 ¥11.18 −19%
Mowi ASA MOWI kr 201.80 kr 256.14 +27%
Fujian Wanchen Food Group 300972 ¥201.06 ¥143.09 −29%
United Plantations Berhad 2089 32.60 MYR 23.34 MYR −28%
Charoen Pokphand Foods Public Company CPF 23.40 THB 43.24 THB +85%
PT Charoen Pokphand Indonesia Tbk, CPIN 2,960 IDR 6,818 IDR +130%

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Frequently asked questions

Is Dekon Food & Agriculture Group (2419) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of HK$99.24 versus a price of HK$62.00, about +60% upside (undervalued).
What is the fair value of 2419?
Our model-based fair value for Dekon Food & Agriculture Group is HK$99.24 (as of Sep 5, 2026), built from audited fundamentals. The current price: HK$62.00.
What is the quality score of 2419?
Dekon Food & Agriculture Group has a Quality Score of 48/100. 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 Dekon Food & Agriculture Group (2419)?
Dekon Food & Agriculture Group reported trailing-twelve-month revenue of about HK$23.2B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of 2419?
The net profit margin of Dekon Food & Agriculture Group is about 6.2%, meaning it keeps roughly 6.2% of revenue as net income. Based on the latest reported figures.
Does Dekon Food & Agriculture Group pay a dividend?
Dekon Food & Agriculture Group currently shows a dividend yield of about 1.89% relative to its recent price (as of Sep 5, 2026).
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