Hang Lung Properties Limited

SEHK:101 Stock Report

Market Cap: HK$36.3b

Hang Lung Properties Valuation

Is 101 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 101 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 101 (HK$8.06) is trading below our estimate of fair value (HK$8.72)

Significantly Below Fair Value: 101 is trading below fair value, but not by a significant amount.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 101?

Other financial metrics that can be useful for relative valuation.

101 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.9x
Enterprise Value/EBITDA13.4x
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does 101's PE Ratio compare to its peers?

The above table shows the PE ratio for 101 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
2602 Onewo
10.8x14.9%HK$22.8b
1209 China Resources Mixc Lifestyle Services
17x17.8%HK$53.9b
1997 Wharf Real Estate Investment
16.6x11.8%HK$78.9b
1972 Swire Properties
35.8x23.3%HK$94.5b
101 Hang Lung Properties
9.1x9.5%HK$36.3b

Price-To-Earnings vs Peers: 101 is good value based on its Price-To-Earnings Ratio (9.1x) compared to the peer average (20x).


Price to Earnings Ratio vs Industry

How does 101's PE Ratio compare vs other companies in the HK Real Estate Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.2%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.2%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: 101 is expensive based on its Price-To-Earnings Ratio (9.1x) compared to the Hong Kong Real Estate industry average (6.5x).


Price to Earnings Ratio vs Fair Ratio

What is 101's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

101 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.1x
Fair PE Ratio9x

Price-To-Earnings vs Fair Ratio: 101 is expensive based on its Price-To-Earnings Ratio (9.1x) compared to the estimated Fair Price-To-Earnings Ratio (9x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 101 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$8.06
HK$12.08
+49.8%
15.4%HK$16.80HK$9.00n/a15
Mar ’25HK$8.48
HK$12.08
+42.4%
15.4%HK$16.80HK$9.00n/a15
Feb ’25HK$9.10
HK$12.52
+37.6%
15.4%HK$16.80HK$9.00n/a15
Jan ’25HK$10.88
HK$15.35
+41.1%
17.2%HK$19.60HK$10.00n/a15
Dec ’24HK$10.50
HK$15.39
+46.5%
16.8%HK$19.60HK$10.00n/a15
Nov ’24HK$10.50
HK$15.39
+46.5%
16.8%HK$19.60HK$10.00n/a15
Oct ’24HK$10.72
HK$16.09
+50.1%
13.2%HK$19.60HK$11.50n/a14
Sep ’24HK$10.48
HK$16.42
+56.6%
10.4%HK$19.60HK$14.00n/a14
Aug ’24HK$11.30
HK$16.49
+45.9%
9.8%HK$19.60HK$14.30n/a14
Jul ’24HK$12.10
HK$17.91
+48.0%
10.9%HK$22.00HK$15.00n/a14
Jun ’24HK$12.44
HK$18.16
+46.0%
10.4%HK$22.00HK$15.00n/a14
May ’24HK$14.32
HK$18.68
+30.4%
9.7%HK$22.00HK$16.00n/a13
Apr ’24HK$14.68
HK$18.72
+27.5%
9.7%HK$22.00HK$16.00n/a13
Mar ’24HK$15.56
HK$18.77
+20.7%
9.4%HK$22.00HK$16.00HK$8.4814
Feb ’24HK$15.18
HK$19.24
+26.7%
14.1%HK$26.70HK$15.00HK$9.1015
Jan ’24HK$15.26
HK$18.49
+21.2%
19.8%HK$26.70HK$13.40HK$10.8815
Dec ’23HK$14.42
HK$18.63
+29.2%
19.6%HK$26.70HK$13.40HK$10.5015
Nov ’23HK$9.96
HK$19.41
+94.9%
16.5%HK$26.70HK$14.00HK$10.5015
Oct ’23HK$12.88
HK$20.11
+56.2%
12.8%HK$26.70HK$17.00HK$10.7214
Sep ’23HK$13.16
HK$20.19
+53.4%
12.4%HK$26.70HK$17.10HK$10.4814
Aug ’23HK$13.48
HK$20.19
+49.7%
12.4%HK$26.70HK$17.10HK$11.3014
Jul ’23HK$14.88
HK$22.08
+48.4%
12.8%HK$26.70HK$18.00HK$12.1014
Jun ’23HK$14.56
HK$22.15
+52.1%
12.3%HK$26.70HK$18.00HK$12.4414
May ’23HK$15.02
HK$22.22
+47.9%
12.0%HK$26.70HK$18.00HK$14.3214
Apr ’23HK$16.06
HK$22.22
+38.4%
12.0%HK$26.70HK$18.00HK$14.6814
Mar ’23HK$16.10
HK$22.22
+38.0%
12.0%HK$26.70HK$18.00HK$15.5614

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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