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Onewo Inc (2602) Fair Value & Analysis

Real Estate · HK · Market cap HK$18.1B (≈ $2.3B)

What is Onewo Inc really worth?

OI Onewo Inc 2602 · HK
PriceHK$19.61
Fair ValueHK$24.91
Upside+27.0%
Quality63/100

A solid business, trading 21% below our fair value of HK$24.91.

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Strengths

✓Low debt · generates free cash flow
✓Ranks above peers (10/14)

Risks

!Mixed Growth (revenue 5y +15.5 %/yr)
!Thin margins · 1.9% net margin
!Narrow moat 22/100
!Weak on future: 12 out of 100
!Weak on past: 19 out of 100

For context

·7.63% dividend yield
Evidence: High Range HK$20.49 – HK$29.33

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 22 days ago

Share price +14.7% 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 price is below even our cautious bear case (HK$20.49). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (4 years)

HK$44.37 HK$13.71 Fair Value HK$24.91 Sep 2022 Sep 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

47‑month range HK$13.71 – HK$44.37 · fair‑value band HK$20.49 – HK$29.33 · the HK$19.61 price screens below the HK$24.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Onewo Inc (2602) currently trades at HK$19.61, while our model-based Fair Value estimate is HK$24.91, implying the stock looks roughly 21.3% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of HK$41.19 per share, and 12 of the 16 models we run sit above the HK$19.61 price. Bear case: the Asset-Based group reads lowest at HK$8.49, and 4 of the 16 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Onewo Inc generated revenue of HK$37.3B at a net margin of 1.9%. Revenue grew 2.4% year over year. It earns a return on equity of 4.7%. The balance sheet holds a net cash position of HK$11.7B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$20.49 (bear case) to HK$29.33 (bull case); at HK$19.61, 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 25% below its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −23% fair-value upside, at 27%, 2602 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$27.51 HK$41.19 HK$64.87 79
Growth DCF HK$27.40 HK$40.00 HK$61.27 78
Residual Income HK$9.75 HK$9.94 HK$9.52 76
All 16 models by family
DCF Models
FCF DCF HK$27.51 HK$41.19 HK$64.87 79
5Y Revenue Exit HK$21.85 HK$29.12 HK$38.76 74
5Y EBITDA Exit HK$30.93 HK$47.77 HK$68.92 75
10Y Revenue Exit HK$23.32 HK$30.85 HK$41.97 67
10Y EBITDA Exit HK$29.63 HK$44.49 HK$67.14 68
Dividend Discount
Gordon GGM HK$16.82 HK$34.97 HK$55.47 66
DDM Multi-Stage HK$16.82 HK$29.49 HK$36.70 66
Multiples
P/S Multiple HK$7.68 HK$10.24 HK$12.80 58
P/B Multiple HK$7.68 HK$10.24 HK$12.80 55
EV/EBIT HK$26.49 HK$31.85 HK$37.20 66
EV/EBITDA HK$34.44 HK$42.44 HK$50.45 67
EV/Revenue HK$19.29 HK$23.08 HK$26.88 54
Asset-Based
NCAV (Graham) HK$6.34 HK$8.49 HK$12.67 54
Growth DCF
Growth DCF HK$27.40 HK$40.00 HK$61.27 78
Rev-Margin DCF HK$21.85 HK$29.07 HK$38.39 74
Economic Profit
Residual Income HK$9.75 HK$9.94 HK$9.52 76

Widest divergence: DCF Models (HK$41.19) versus Asset-Based (HK$8.49). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 28.4
P/S ratio 0.53 P/E × margin
EPS (TTM) HK$0.6800 price ÷ EPS = P/E 28.4
Dividend yield 7.6%
Net margin 1.9% FY2025
Return on equity 4.7% TTM
More key figures
Profitability
Return on assets (EBIT) 4.2% avg 5y
Operating margin 1.3% TTM
Growth
Revenue (TTM) HK$37.3B TTM
Revenue growth (YoY) +2.4% 3y avg +7.4%
EPS growth (YoY) +5.6%
Balance sheet & cash flow
Free cash flow HK$1.5B FY2025
Net cash HK$11.7B FY2025

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

Quality Score breakdown

Overall quality 63/100

Of which business quality 66 · Market factors (momentum, volatility) 35

Profitability 34
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 77
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

Onewo Inc. provides property management services in the People's Republic of China. It offers residential property services, including cleaning, security, gardening, and repair and maintenance services to property owners, property owners' associations, or residents for residential properties, as well as home-related asset services comprising home sale and …

Full company description

Onewo Inc. provides property management services in the People's Republic of China. It offers residential property services, including cleaning, security, gardening, and repair and maintenance services to property owners, property owners' associations, or residents for residential properties, as well as home-related asset services comprising home sale and rental brokerage, and home redecoration and furnishing services. The company also provides commercial and urban space integrated services that include property and facility management, value-added services for developers, and urban space integrated services, as well as smart property solutions, such as equipment, design, integration and construction, and remote operation services. In addition, it offers smart space solutions, including smart community, city and construction sites; enterprise services, including electromechanical engineering and enterprise outsourcing services; supply chain services comprising supplier settlement and intensive procurement; and IT, public facility management, and industrial investment services. The company was founded in 1990 and is headquartered in Shenzhen, the People's Republic of China. Onewo Inc. operates as a subsidiary of China Vanke Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Onewo Inc reported revenue of 37.3B CNY in FY2025 versus 23.7B CNY in FY2021, a compound +12.0%/yr. Reported net income was 695M CNY in FY2025, compounding −19.7%/yr from FY2021.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$37.3B
Latest YoY
+2.9%
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.
+7.4%
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.
+15.5%
Avg. revenue growth/yr (6Y) ⓘ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.
+17.8%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+1.2% (−6.4 + 7.6)
Revenue +12.0%/yr
FY21 23.7B CNY
FY22 30.1B CNY
FY23 33.2B CNY
FY24 36.2B CNY
FY25 37.3B CNY
Net income −19.7%/yr
FY21 1.7B CNY
FY22 1.5B CNY
FY23 2.0B CNY
FY24 1.1B CNY
FY25 695M CNY

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Cite: Fair Value Calculator (2026). "Onewo Inc Fair Value". https://www.fairvalue-calculator.com/stock/2602

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 65 · Top 25%
Fair Value upside +27% · Above median
Return on equity (TTM) 5% · Above median
Return on assets 2% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 2% · Above median
Dividend yield (TTM) 7.6% · Top 25%

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 28.4× · Pricier than 75% of peers
P/B 1.24× · Pricier than median
P/S (TTM) 0.49× · Cheaper than median
P/FCF 1.5× · Cheaper than median
EV/EBITDA 2.6× · Cheaper than 75% of peers

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
VALUE69 · sector 30
FUTURE12 · sector 11
PAST19 · sector 17
HEALTH100 · sector 84
DIVIDEND100 · 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 13, 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 Onewo Inc (2602) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$24.91 versus a price of HK$19.61, about +27% upside (undervalued).
What is the fair value of 2602?
Our model-based fair value for Onewo Inc is HK$24.91 (as of Aug 13, 2026), built from audited fundamentals. The current price: HK$19.61.
What is the quality score of 2602?
Onewo Inc has a Quality Score of 63/100. 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 Onewo Inc (2602)?
Onewo Inc reported trailing-twelve-month revenue of about HK$37.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2602?
The net profit margin of Onewo Inc is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.
Does Onewo Inc pay a dividend?
Onewo Inc currently shows a dividend yield of about 7.63% relative to its recent price (as of Aug 13, 2026).
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