Ninestar Corp (002180) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of Ninestar Corp stock ¥12.10, price ¥16.02, that is 24.5% below the price, quality 47 out of 100. Rating: overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.
How to read this chart
60‑month range ¥13.23 – ¥57.70 · fair‑value band ¥7.30 – ¥24.43 · the ¥16.02 price screens above the ¥12.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 11, 2026.
Follow Ninestar in your weekly email
Every Wednesday you see whether Ninestar is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Pantum Technology Co., Ltd., together with its subsidiaries, engages in the research, development, production, processing, and sale of self-produced printers and printer consumables and accessories in China and internationally.
Show moreShow less
The company offers laser printers; integrated circuit chips; and compatible consumables and core components, including laser cartridges, inkjet cartridges, ribbon cartridges, and ink, as well as consumable integrated circuit chips, rollers, and other core consumable parts.
It is also involved in investment consulting and management services; operation of printing industrial park; sale of office equipment and consumables; treasury center; and e-commerce platform. The company sells its products under the PANTUM, APEXMIC, G&G, and Static Control brand names.
It exports its products. Pantum Technology Co., Ltd. was formerly known as Ninestar Corporation and changed its name to Pantum Technology Co., Ltd. in April 2026. The company was founded in 2000 and is based in Zhuhai, China.
Stock analysis
Ninestar Corp (002180) currently trades at ¥16.02, while our model-based Fair Value estimate is ¥12.10, 24% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of ¥12.10 per share, and 2 of the 13 models we run sit above the ¥16.02 price.
Bear case: the Asset-Based group reads lowest at ¥2.43, and 11 of the 13 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥7.30 (bear) to ¥24.43 (bull), the price of ¥16.02 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 47/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Ninestar Corp reported revenue of 16.5B CNY in FY2025 versus 22.8B CNY in FY2021, a compound −7.7%/yr. Reported net income was −718M CNY in FY2025.
Key figures
Market cap 22.8B CNY (≈ $3.4B) Mid · P/S ratio 2.51 · EPS (TTM) ¥−0.1600 · Dividend yield 1.7% · Net margin −2.6% · Return on equity −2.7% · Return on assets (EBIT) −1.4% (5-year average) · Operating margin 6.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 21% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −24%, 002180 screens richer than that median.
Fair Value models
Bear¥7.30Fair Value ¥12.10Bull¥24.43
Price ¥16.02 · Downside -24.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.18/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−37.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−13.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.8%
Start year 2020 (pandemic). Over 10 years: +23.2% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+30.6%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−1.3% (2020) → 3.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+26.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +24.7% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer Groupⓘ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.Computer Hardware · 230 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score47 · Below median
Fair Value upside−24.5% · Below median
Profitability
Return on assets−4.2% · Bottom 25%
Net margin (12 months)−2.6% · Bottom 25%
Operating margin (12 months)6.0% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.9% · Below median
Dividend yield (12 months)1.7% · Below median
Balance sheet
Debt / equity0.28× · Highest 25%
Valuation Multiplesvs Computer Hardware median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ninestar Corp Fair Value". https://www.fairvalue-calculator.com/stock/002180
Frequently asked questions
Is Ninestar Corp (002180) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of ¥12.10 versus a price of ¥16.02, about 24% lower (overvalued).
What is the fair value of 002180?
Our model-based fair value for Ninestar Corp is ¥12.10 (as of Nov 11, 2026), built from audited fundamentals. The current price: ¥16.02.
What is the quality score of 002180?
Ninestar Corp has a Quality Score of 47/100. 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 price target for Ninestar Corp (002180)?
Our model-based price target is the fair value of ¥12.10 (as of Nov 11, 2026) from 13 valuation models. Cautious scenario ¥7.30, optimistic scenario ¥24.43. It is a calculation from audited fundamentals, not an analyst target.
What is the Ninestar Corp stock forecast for 2026?
Our models put fair value at ¥12.10, about 24% lower versus a price of ¥16.02 (overvalued). Cautious scenario ¥7.30, optimistic scenario ¥24.43. The calculation is refreshed regularly with new filings.
What is the revenue of Ninestar Corp (002180)?
Ninestar Corp reported trailing-twelve-month revenue of about 8.8B CNY (latest available figure, as of Nov 11, 2026).
Does Ninestar Corp pay a dividend?
Ninestar Corp currently shows a dividend yield of 1.71% relative to its recent price (as of Nov 11, 2026).
How much is the dividend of Ninestar Corp (002180)?
Ninestar Corp has a dividend yield of 1.7%.
What growth is priced into Ninestar Corp (002180)?
For today's price to be fair in a discounted-cash-flow model, Ninestar Corp would have to grow free cash flow by +26.8 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -4.8 % per year. As of Nov 11, 2026.
What discount rate (WACC) does the fair value of 002180 use?
Our models discount Ninestar Corp at 9.1 %: a base by market capitalisation (mid), damped by beta 0.41, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Ninestar Corp that is +26.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Ninestar Corp (002180) delivered so far?
Over the past 5 years revenue at Ninestar Corp grew -4.8 % a year. The price currently implies free-cash-flow growth of +26.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Ninestar Corp (002180) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Ninestar Corp (+26.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ninestar Corp (002180)?
The free-cash-flow yield on the price is 1.65 %: that much free cash flow Ninestar Corp produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ninestar Corp (002180)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ninestar Corp it is ¥12.10 per share (as of Nov 11, 2026), against a price of ¥16.02. It is the blended result of 13 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Ninestar Corp stock overvalued or undervalued in 2026?
As of Nov 11, 2026, 002180 trades above its calculated fair value: price ¥16.02, fair value ¥12.10, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 002180?
No. The price is what the market pays today (¥16.02); the fair value is what the company's own numbers justify (¥12.10). For Ninestar Corp the two are ¥3.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ninestar Corp worth?
The market values Ninestar Corp at about 22.8B CNY (market capitalisation, as of Nov 11, 2026). Per share that is ¥16.02; our models calculate a fair value of ¥12.10 per share.
What do the bullish and bearish scenarios say about 002180?
Our models span a range for Ninestar Corp: cautious scenario ¥7.30, base ¥12.10, optimistic ¥24.43 per share (as of Nov 11, 2026, price ¥16.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of 002180?
The PEG ratio of Ninestar Corp is 0.42 (P/E divided by earnings growth, as of Nov 11, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Ninestar Corp (002180)?
Balance-sheet figures for Ninestar Corp (as of Nov 11, 2026): return on equity −2.7%, debt of 0.28 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 002180 from its 52-week high?
Ninestar Corp trades at ¥16.02, about 28% below its 52-week high of ¥22.38 and 21% above the low of ¥13.23 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of ¥12.10 is for.
Which stocks are comparable to Ninestar Corp?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Sandisk Corporation, Seagate Technology Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ninestar Corp stock attractive at the current price?
The data as of Nov 11, 2026: price ¥16.02, calculated fair value ¥12.10 (−24%), Quality Score 47/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 002180 calculated?
We run Ninestar Corp through 13 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of ¥12.10 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0% above its aggregate fair value. Ninestar Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ninestar Corp (002180)?
The closing price on Nov 11, 2026 was ¥16.02. Our model-based fair value is ¥12.10, about 24% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ninestar Corp right now?
Weak quality (47/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (¥7.30 to ¥24.43). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of Ninestar Corp (002180) come from?
Earnings per share at Ninestar Corp grew +11.5 % a year from 2013 to 2024. Broken into its drivers: revenue per share +29.3 %, EBIT margin −11.0 %, tax rate −1.4 %, residual (interest, one-offs) −1.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Ninestar Corp
How large is the market capitalisation of Ninestar Corp (002180)?
The market capitalisation of Ninestar Corp is 22.8B CNY (≈ $3.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ninestar Corp (002180)?
The price-to-sales ratio of Ninestar Corp is 2.51 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ninestar Corp (002180)?
Earnings per share at Ninestar Corp are ¥−0.1600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ninestar Corp (002180)?
The dividend yield of Ninestar Corp is 1.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Ninestar Corp (002180)?
The net margin of Ninestar Corp is −2.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ninestar Corp (002180)?
The return on equity (ROE) of Ninestar Corp is −2.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ninestar Corp (002180)?
On an EBIT basis the return on assets of Ninestar Corp is −1.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ninestar Corp (002180)?
The operating margin of Ninestar Corp is 6.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ninestar Corp (002180)?
Revenue at Ninestar Corp is growing +2.9% versus a year earlier (3y avg −13.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ninestar Corp (002180)?
Earnings per share at Ninestar Corp are growing −23.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Ninestar Corp (002180) carry?
The net debt of Ninestar Corp is 6.6B CNY (fiscal year 2024, ≈ 17.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Ninestar Corp in the live analysis
One click puts Ninestar Corp on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 11, 2026