Johnson Electric Holdings Limited (0179.HK) valuation at a glance
- Price
- $2.35
- Forward P/E
- 8.3×
- Market cap
- $2.18B
Companies0179.HK
0179.HK
Johnson Electric Holdings Limited
IndustrialsHong KongAuto componentsNet cashFamily controlled
Overview
$2.35+0.1%
Market Cap
$2.18B
FY2026 figures via stockanalysis
P/E (TTM)
10.9×
FY2026 figures via stockanalysis
Rev Growth YoY
–
FY2026 figures via stockanalysis
Gross Margin
23.0%
FY2026 figures via stockanalysis
FCF Yield
8.4%
Calculated from FY2026 figures via stockanalysis
Fair Value
Not established
Yahoo v8 chart 0179
Conviction
2/5Net cash micro-motor maker trading near 0.76x book after a 23% earnings decline, with a 60% drawdown the cited filings do not explain.
Research Depth
ScreeningDeep ResearchFull Model
Updated 1d ago
Quality Snowflake
Overall 73/100
Value2/3
Future1/1
Past3/3
Health4/4
Dividend0/1
Each axis scores the checks for which data is available (filled = pass, hollow = no data). Computed from the sourced metrics on this page, not a third-party rating.
Thesis
Johnson Electric Holdings is a Bermuda-incorporated, HKEX Main Board listed maker of micro motors, motion subsystems and electrical components sold into automotive and industrial end markets. It reports in USD on a fiscal year ending 31 March. For FY2026, ended 31 March 2026, the aggregated financial record shows revenue of 3.65bn USD, essentially flat year on year at plus 0.08%, and net income of 202.13M USD, down 23.09%. The balance sheet is the distinguishing feature: cash of 901.94M USD against debt of 383.51M USD leaves net cash of 523.05M USD, up 32.6% from 394.44M USD a year earlier and equal to roughly 24% of the 2,882M USD of equity. At a close of 18.46 HKD on 17 September 2026 and 926.72M shares outstanding, market value is about 17.1bn HKD, roughly 2.2bn USD, implying about 0.76x book. The unresolved element is price: the stock sits roughly 60% below its 52-week high of 45.78 HKD and the filings cited here do not explain that move.
Bull Case
Balance sheetFY2026, ended 31 March 2026, closed with cash of 901.94M USD against debt of 383.51M USD, a net cash position of 523.05M USD equal to about 24% of the 2,882M USD of equity.
Valuation926.72M shares at a close of 18.46 HKD on 17 September 2026 implies about 2.2bn USD of market value against FY2026 equity of 2,882M USD, roughly 0.76x book.
Capital disciplineShares outstanding moved only from 920.84M in FY2025 to 926.72M in FY2026, a 0.64% change, and net cash rose 32.6% year on year from 394.44M USD.
Bear Case
Unexplained drawdownThe Yahoo one-year series shows a 52-week range of 16.57 HKD to 45.78 HKD, leaving the 18.46 HKD close on 17 September 2026 roughly 60% below the high, and none of the filings cited here explain that decline.
EarningsFY2026 net income of 202.13M USD was down 23.09% year on year while revenue was flat at 3.65bn USD, so the decline came from margin, not volume.
CyclicalityWith FY2026 revenue growth of plus 0.08%, the case rests on the balance sheet and the multiple rather than on growth, and automotive and industrial component demand plus tariff exposure remain the swing factors.
Key Metrics
Market Cap
$2.18B
FY2026 figures via stockanalysis
Enterprise Value
$1.70B
Calculated from FY2026 figures via stockanalysis
Revenue (TTM)
–
FY2026 figures via stockanalysis
P/E (TTM)
10.9×
FY2026 figures via stockanalysis
Forward P/E
8.3×
Yahoo v8 chart 0179
P/S (TTM)
–
FY2026 figures via stockanalysis
P/B
6.0×
FY2026 figures via stockanalysis
EV/EBITDA
34.5×
Calculated from FY2026 figures via stockanalysis
PEG
–
Calculated from FY2026 figures via stockanalysis
Revenue Growth
–
FY2026 figures via stockanalysis
Gross Margin
23.0%
FY2026 figures via stockanalysis
Operating Margin
2.4%
FY2026 figures via stockanalysis
Net Margin
–
FY2026 figures via stockanalysis
Free Cash Flow
$184M
FY2026 figures via stockanalysis
FCF Yield
8.4%
Calculated from FY2026 figures via stockanalysis
Debt / Equity
0.1×
FY2026 figures via stockanalysis
Current Ratio
2.4×
FY2026 figures via stockanalysis
Short Interest
–
FY2026 figures via stockanalysis
Institutional Own.
17.1%
FY2026 figures via stockanalysis
Insider Own.
58.0%
FY2026 figures via stockanalysis
Shares Out.
926.7M
FY2026 figures via stockanalysis
Float
291.1M
FY2026 figures via stockanalysis
Valuation
Price vs Fair Value
Now $2.35
DCF Summary
DCF awaiting Phase 2+
Discounted cash-flow model is built once research reaches the deep-research stage.
Historical Multiples
Multiple history pending
This section is being deepened.
Peer Comparison
| Ticker | Mkt Cap | P/E | P/S | EV/EBITDA | Rev Growth | Gross Mgn | Net Mgn |
|---|---|---|---|---|---|---|---|
| 0179.HK | $17.11B | 10.9× | 4.7× | 34.5× | +1.0% | 23.0% | 6.0% |
| RRX | $10.21B | 31.6× | 1.7× | 11.7× | +4.0% | 37.0% | 5.0% |
| AME | $53.97B | 34.4× | 6.9× | 22.0× | +15.0% | 37.0% | 20.0% |
| BWA | $13.01B | 31.5× | 0.9× | 7.1× | 0.0% | 19.0% | 3.0% |
| 0669.HK | $234.71B | 22.9× | 14.9× | 137.4× | +6.0% | 43.0% | 8.0% |
| 2382.HK | $72.51B | 13.6× | 1.6× | 9.8× | +12.0% | 20.0% | 11.0% |
Financials
Income statement pending
Awaiting source-linked statement data.
Balance sheet pending
Awaiting source-linked statement data.
Cash flow pending
Awaiting source-linked statement data.
Quoted locally at 18.46 HKD; price, market cap and technicals on this page are converted to USD at the 2026-09-17 spot rate. Johnson Electric Holdings reports in US dollars on a fiscal year ending 31 March, while the shares trade in Hong Kong dollars on the HKEX Main Board. The FY2026 figures used here cover the year ended 31 March 2026 and come from an aggregation of the Annual Results Announcement released on 28 May 2026 (https://stockanalysis.com/quote/hkg/0179/financials/balance-sheet/); the announcement PDF itself was not parsed in this research pass. Operating cash flow, capital expenditure and free cash flow were not computed and are deliberately absent. A final dividend of HKD 0.44 was proposed for FY2026; the full year dividend per share was not re-confirmed and is not stated. Hong Kong levies no withholding tax on dividends (HK 0%); the company is incorporated in Bermuda, which also imposes no dividend withholding tax. Source: HKEX announcement ↗
Catalysts
November 2026
Earningshigh relevance
Interim results for the six months to 30 September 2026
The FY2026 annual results were announced on 28 May 2026 for the year ended 31 March 2026; the matching interim announcement is the next scheduled disclosure and would be the first filing to address whether the FY2026 margin decline continued.
Ongoing
Corporatehigh relevance
Explanation of the share price decline
The stock trades roughly 60% below its 52-week high of 45.78 HKD and no announcement located on HKEXnews for the period reviewed explains the move. Any clarifying announcement, profit warning or business update would resolve the largest open question in this record.
Announced
Corporate
Final dividend for the year ended 31 March 2026
A separate announcement dated 28 May 2026 covers the final dividend for FY2026, with a proposed final dividend of HKD 0.44. The full year dividend per share was not re-confirmed in this research run and is not stated here.
Published
Governance
Annual Report 2025/26 and AGM circular
The Annual Report 2025/26, the notice of annual general meeting and proposals for general mandates covering share repurchases and share issuance were published on 15 June 2026, with a supplemental announcement to the AGM circular on 22 June 2026.
Risks
| Risk | Category | Severity | Probability | Impact on Thesis |
|---|---|---|---|---|
| The roughly 60% drawdown from the 52-week high of 45.78 HKD is not explained by the filings cited in this record | Market/Macro | High | High | An unexplained decline of this size implies information the cited documents do not capture, so the book value anchor may be less reliable than the FY2026 figures suggest. |
| Earnings cyclicality in automotive and industrial components | Operational | High | High | FY2026 net income fell 23.09% to 202.13M USD on flat revenue of 3.65bn USD, showing how quickly margin compresses when end-market demand softens. |
| Tariff and automotive supply chain exposure | Market/Macro | Medium | Medium | Component suppliers into global auto programmes are exposed to tariff changes and customer sourcing shifts, which can move both volume and delivered cost. |
| No growth to support the multiple | Financial | Medium | High | FY2026 revenue growth of plus 0.08% means the case rests entirely on the balance sheet and on multiple re-rating rather than on compounding earnings. |
| Controlling shareholder concentration is not quantified here | Governance | Medium | Medium | The Wang family is the long-standing controlling shareholder but the exact percentage was not verified in this research pass, so minority influence over capital allocation cannot be sized. |
Technical Snapshot
52-Week Range
–$2.35–
RSI (14)
n/a
insufficient history
50-Day MA
–
insufficient history
200-Day MA
–
insufficient history
Avg Vol (30d)
vs average
Support Levels
Resistance Levels
Technical inputs: FY2026 figures via stockanalysis. See the record-specific source notes for measurement basis.
Ownership & Insider Activity
Institutional Holdersvia Source-linked
Institutional holder details unavailable
This research record does not include a holder-level table.
Insider Activity
The Wang founding family is the long-standing controlling shareholder of Johnson Electric Holdings. The exact stake size is UNVERIFIED: the ownership data page returned HTTP 403 during this research run and no substantial shareholder table was read. The figure should be taken from the Annual Report 2025/26 published 15 June 2026 and from the disclosure of interests filings on HKEXnews rather than from this record.
Detailed insider transactions unavailable
This research record does not include a transaction-level table.
Peer Comparison
| Ticker | Mkt Cap | P/E | P/S | EV/EBITDA | Rev Growth | Gross Mgn | Net Mgn |
|---|---|---|---|---|---|---|---|
| 0179.HK | $17.11B | 10.9× | 4.7× | 34.5× | +1.0% | 23.0% | 6.0% |
| RRX | $10.21B | 31.6× | 1.7× | 11.7× | +4.0% | 37.0% | 5.0% |
| AME | $53.97B | 34.4× | 6.9× | 22.0× | +15.0% | 37.0% | 20.0% |
| BWA | $13.01B | 31.5× | 0.9× | 7.1× | 0.0% | 19.0% | 3.0% |
| 0669.HK | $234.71B | 22.9× | 14.9× | 137.4× | +6.0% | 43.0% | 8.0% |
| 2382.HK | $72.51B | 13.6× | 1.6× | 9.8× | +12.0% | 20.0% | 11.0% |
Recognizable sector comparables. Source basis: FY2026 figures via stockanalysis; lowest multiple in each column highlighted. Loss-making peers show no P/E.
Research Notes
2026-09-17Research
Price is the open question, not the balance sheet
The FY2026 results for the year ended 31 March 2026 show flat revenue of 3.65bn USD, net income of 202.13M USD down 23.09%, and net cash of 523.05M USD against equity of 2,882M USD. Neither of those facts explains why the shares closed at 18.46 HKD on 17 September 2026, roughly 60% below the 52-week high of 45.78 HKD recorded in the Yahoo one-year series. This gap is recorded here as unresolved rather than reconciled.
2026-09-17HKEX filing
FY2026 filing trail located on HKEXnews
HKEXnews lists an Annual Results Announcement for the year ended 31 March 2026 dated 28 May 2026, a separate Final Dividend announcement the same day, and the Annual Report 2025/26 dated 15 June 2026. The annual results announcement PDF was not parsed in this research pass, so the income statement and balance sheet figures above come from the aggregated source cited in sources.fin.
2026-09-17Research
Market structure
The HKEX List of Securities spreadsheet, headed Updated as at 17/09/2026, gives a board lot of 500 shares for 0179.HK, corroborated by futunn.com. At the 18.46 HKD close that makes the minimum tradable unit 9,230 HKD. This is stated only as a fact about the exchange's minimum trading unit.
Sources
Johnson Electric Holdings Limited valuation questions
What is Johnson Electric Holdings Limited's forward P/E ratio?
Johnson Electric Holdings Limited (0179.HK) trades at a forward P/E of 8.3×.
What is Johnson Electric Holdings Limited's market cap?
Johnson Electric Holdings Limited (0179.HK) has a market capitalization (its market value, often searched as "net worth") of $2.18B, and an enterprise value of $1.70B.