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3990.HK$2.90+1.05%
Fair $2.90+0.0%

3990.HK

Midea Real Estate Holding Limited

Real Estate / Real Estate - DevelopmentHKSE

$2.90

+0.03 (+1.05%)

Fairly Valued+0.0%Fair Value $2.90Fund rank 32/100 · Data gapFallback financials|
SA 39/D
F-Score: 7/9

Book/ROE base 3Y

n/d

n/d CAGR · P/B n/d

Book/ROE base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 100% · confianza 20%

Book/ROE escenarios

weak_data · book/share n/d · quality 21.0/100

Data gap 32/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 35/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

39/100

D

Piotroski

7/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific NAV/AFFO model required: REIT/real-estate targets are disabled until FFO/AFFO/NAV/cap-rate data exists. REIT NAV/AFFO valuation requires positive AFFO/share history or TTM AFFO/share; generic FCF remains disabled.
Thesis & Journal · 3990.HKLocal privado en este navegador · Midea Real Estate Holding Limited
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$4.2B

P/E

6.4x

↓

EV/EBITDA

3.5x

↓

ROE

11.4%

↑

Gross Margin

32.9%

↓

Debt/Equity

0.16

↓
52-Week Range$3
$3$7

TradingView lightweight chart

3990.HK price, volumen y niveles de valoración

Último $2.900Periodo -81.7%
Fair value: $2.900

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

-61.7%

FCF CAGR

-30.6%

FCF margin

22.8%

FCF / Net income

1.69x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $4.15B · net income $559.3M · FCF $947.1M

2022-FY → 2025-FY

Gross margin

32.9%+17.6% pts

Operating margin

22.0%+12.7% pts

Net margin

13.5%+11.1% pts

FCF margin

22.8%+19.0% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$4.15B$4.15B$3.73B$2.79B$73.63B
Net Income$559.3M$559.3M$-2.06B$913.6M$1.73B
EBITDA$944.9M$944.9M$934.7M$714.6M$7.04B
EPS0.390.39-1.440.661.34
Gross Margin32.9%32.9%35.7%34.4%15.4%
Operating Margin22.0%22.0%23.0%17.1%9.3%
Net Margin13.5%13.5%-55.2%32.7%2.3%
Balance Sheet
Debt/Equity0.160.160.171.511.95
Current Ratio1.011.01———
Cash Flow
Free Cash Flow$947.1M$947.1M$-2.37B$3.43B$2.84B
Returns
ROE11.4%11.4%-42.0%3.6%6.9%
Valuation
P/E6.446.44—7.719.52
EV/EBITDA3.543.544.2538.696.14
P/B0.850.850.850.280.66
Growth & Yield
Revenue Growth11.4%11.4%33.3%-96.2%—
EPS Growth127.1%127.1%-318.2%-50.7%—
Dividend Yield6.6%6.6%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

-12.9%

fácil

EPS terminal req.

$0.26

Spread vs growth

140.0%

5Y implied EPS CAGR

-4.4%

fácil

EPS terminal req.

$0.31

Spread vs growth

131.5%

10Y implied EPS CAGR

2.5%

fácil

EPS terminal req.

$0.50

Spread vs growth

124.5%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -17.3%

Total return

-17.3%

Start / end P/E

n/dx → n/dx

EPS bridge

-1.44 → 0.39

Residual

-23.9%

EPS growthn/d
Multiple reratingn/d
Dividend+6.6%
Residual / FX / buybacks / cross-term-23.9%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.