Hisense Home Appliances Group Co Ltd (0921) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of Hisense Home Appliances Group Co Ltd stock HK$50.10, price HK$17.26, upside +190.3%, quality 54 out of 100. Rating: strongly undervalued. Calculated from audited financials with 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 12, 2026.
How to read this chart
60‑month range HK$5.13 – HK$33.03 · fair‑value band HK$31.16 – HK$68.61 · the HK$17.26 price screens below the HK$50.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Hisense Home Appliances Group Co., Ltd., together with its subsidiaries, engages in the research, development, manufacture, marketing, and servicing of home appliances in the People's Republic of China and internationally.
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It operates through Air Conditioning Unit, Ice Cleaning Equipment, and Others segments.
The company offers HVAC systems, refrigerators, residential air conditioners, central air conditioners, freezers, washing machines, kitchen appliances, molds, automotive air conditioning compressors, and automotive integrated thermal management systems, as well as comprehensive smart home solutions.
It sells its products under the Hisense, Ronshen, Kelon, Hitachi, York, Gorenje, ASKO, and Sanden brands through its online store. In addition, the company engages in investing activities.
The company was formerly known as Hisense Kelon Electrical Holdings Company Limited and changed its name to Hisense Home Appliances Group Co., Ltd. in October 2018. Hisense Home Appliances Group Co., Ltd. was founded in 1984 and is headquartered in Foshan, the People's Republic of China.
Stock analysis
Hisense Home Appliances Group Co Ltd (0921) currently trades at HK$17.26, while our model-based Fair Value estimate is HK$50.10, implying the stock looks roughly 66% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of HK$54.62 per share, and 24 of the 26 models we run sit above the HK$17.26 price.
Bear case: the Dividend Discount group reads lowest at HK$17.76, and 2 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: HK$31.16 (bear) to HK$68.61 (bull), the price of HK$17.26 sits below 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 54/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hisense Home Appliances Group Co Ltd reported revenue of 87.9B CNY in FY2025 versus 67.6B CNY in FY2021, a compound +6.8%/yr. Reported net income was 3.2B CNY in FY2025, compounding +8.0%/yr from FY2021.
Key figures
Market cap HK$23.9B (≈ $3.0B) Mid · P/E ratio 9.6 · P/S ratio 0.22 · EPS (TTM) HK$1.41 · Dividend yield 8.5% · Net margin 2.7% · Return on equity 16.5% · Return on assets (EBIT) 6.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −22% fair-value upside, at 190%, 0921 screens cheaper than that median.
Fair Value models
BearHK$31.16Fair Value HK$50.10BullHK$68.61
Price HK$17.26 · Upside +190.3%
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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.2%
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.
+5.9%
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.
+12.7%
Start year 2020 (pandemic). Over 10 years: +14.1% a year
Revenue growth 29 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.
+12.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+14.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.4%
Dividend (yield on the price)8.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6.4% vs 16.6%, slowing
Profit margin 2020 to 2025 ⓘ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.7% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +1.4% a year for the forecasts.
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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.Furnishings, Fixtures & Appliances · 306 stocks
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Cite: Fair Value Calculator (2026). "Hisense Home Appliances Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0921
Frequently asked questions
Is Hisense Home Appliances Group Co Ltd (0921) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of HK$50.10 versus a price of HK$17.26, about +190% upside (undervalued).
What is the fair value of 0921?
Our model-based fair value for Hisense Home Appliances Group Co Ltd is HK$50.10 (as of Nov 12, 2026), built from audited fundamentals. The current price: HK$17.26.
What is the quality score of 0921?
Hisense Home Appliances Group Co Ltd has a Quality Score of 54/100. 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 Hisense Home Appliances Group Co Ltd (0921)?
Our model-based price target is the fair value of HK$50.10 (as of Nov 12, 2026) from 26 valuation models. Cautious scenario HK$31.16, optimistic scenario HK$68.61. It is a calculation from audited fundamentals, not an analyst target.
What is the Hisense Home Appliances Group Co Ltd stock forecast for 2026?
Our models put fair value at HK$50.10, about +190% upside versus a price of HK$17.26 (undervalued). Cautious scenario HK$31.16, optimistic scenario HK$68.61. The calculation is refreshed regularly with new filings.
What is the revenue of Hisense Home Appliances Group Co Ltd (0921)?
Hisense Home Appliances Group Co Ltd reported trailing-twelve-month revenue of about 83.4B CNY (latest available figure, as of Nov 12, 2026).
Does Hisense Home Appliances Group Co Ltd pay a dividend?
Hisense Home Appliances Group Co Ltd currently shows a dividend yield of 8.48% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of Hisense Home Appliances Group Co Ltd (0921) and when is the ex-dividend date?
Hisense Home Appliances Group Co Ltd pays a dividend of HK$1.46 per share a year, a dividend yield of 8.5%. The last ex-dividend date was Jun 30, 2026. A dividend has been paid every year since 2016. The payout ratio is 56.7% of earnings. Free cash flow covers the dividend 2.04 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Hisense Home Appliances Group Co Ltd (0921)?
Today's price is already fair in a discounted-cash-flow model if free cash flow at Hisense Home Appliances Group Co Ltd shrinks by more than 40 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew 12.7 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of 0921 use?
Our models discount Hisense Home Appliances Group Co Ltd at 9.2 %: a base by market capitalisation (mid), damped by beta 0.56, country premium for Hong Kong. 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 Hisense Home Appliances Group Co Ltd that is less than minus 40 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Hisense Home Appliances Group Co Ltd (0921) delivered so far?
Over the past 5 years revenue at Hisense Home Appliances Group Co Ltd grew 12.7 % a year. The price currently implies free-cash-flow growth of less than minus 40 % 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 Hisense Home Appliances Group Co Ltd (0921) growing?
The median revenue growth in the sector is +4.5 % a year. That is the yardstick for the growth priced into Hisense Home Appliances Group Co Ltd (less than minus 40 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hisense Home Appliances Group Co Ltd (0921)?
The free-cash-flow yield on the price is 18.11 %: that much free cash flow Hisense Home Appliances Group Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hisense Home Appliances Group Co Ltd (0921)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hisense Home Appliances Group Co Ltd it is HK$50.10 per share (as of Nov 12, 2026), against a price of HK$17.26. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Hisense Home Appliances Group Co Ltd stock overvalued or undervalued in 2026?
As of Nov 12, 2026, 0921 trades below its calculated fair value: price HK$17.26, fair value HK$50.10, a gap of about +190% (undervalued). 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 0921?
No. The price is what the market pays today (HK$17.26); the fair value is what the company's own numbers justify (HK$50.10). For Hisense Home Appliances Group Co Ltd the two are HK$32.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hisense Home Appliances Group Co Ltd worth?
The market values Hisense Home Appliances Group Co Ltd at about HK$23.9B (market capitalisation, as of Nov 12, 2026). Per share that is HK$17.26; our models calculate a fair value of HK$50.10 per share.
What do the bullish and bearish scenarios say about 0921?
Our models span a range for Hisense Home Appliances Group Co Ltd: cautious scenario HK$31.16, base HK$50.10, optimistic HK$68.61 per share (as of Nov 12, 2026, price HK$17.26). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0921?
Hisense Home Appliances Group Co Ltd trades at a price-to-earnings ratio of 9.6 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$50.10 is built from several models across several years. Other multiples: PEG 0.8, P/B 1.2, P/S 0.4, EV/EBITDA 5.4.
What is the PEG ratio of 0921?
The PEG ratio of Hisense Home Appliances Group Co Ltd is 0.83 (P/E divided by earnings growth, as of Nov 12, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Hisense Home Appliances Group Co Ltd (0921)?
Balance-sheet figures for Hisense Home Appliances Group Co Ltd (as of Nov 12, 2026): return on equity 16.5%, debt of 0.00 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 0921 from its 52-week high?
Hisense Home Appliances Group Co Ltd trades at HK$17.26, about 32% below its 52-week high of HK$25.25 and at the low of HK$17.26 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$50.10 is for.
Which stocks are comparable to Hisense Home Appliances Group Co Ltd?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, SharkNinja, Inc, Haier Smart Home Co, 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 Hisense Home Appliances Group Co Ltd stock attractive at the current price?
The data as of Nov 12, 2026: price HK$17.26, calculated fair value HK$50.10 (+190%), Quality Score 54/100, from 26 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 0921 calculated?
We run Hisense Home Appliances Group Co Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$50.10 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 14.1% above its aggregate fair value. Hisense Home Appliances Group Co Ltd currently trades 66% below its own fair value, and the market average says nothing about that. 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 Hisense Home Appliances Group Co Ltd (0921)?
The closing price on Nov 13, 2026 was HK$17.26. Our model-based fair value is HK$50.10, about +190% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hisense Home Appliances Group Co Ltd right now?
The price is below even our cautious bear case (HK$31.16). The market is more pessimistic than our downside scenario. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (HK$31.16 to HK$68.61) leaves room in how you read the outcome.
Where does the earnings growth of Hisense Home Appliances Group Co Ltd (0921) come from?
Earnings per share at Hisense Home Appliances Group Co Ltd grew 16.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +14.7 %, EBIT margin +9.7 %, tax rate −1.4 %, residual (interest, one-offs) −6.1 %. 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 Hisense Home Appliances Group Co Ltd
How large is the market capitalisation of Hisense Home Appliances Group Co Ltd (0921)?
The market capitalisation of Hisense Home Appliances Group Co Ltd is HK$23.9B (≈ $3.0B). 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 Hisense Home Appliances Group Co Ltd (0921)?
The price-to-sales ratio of Hisense Home Appliances Group Co Ltd is 0.22 (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 Hisense Home Appliances Group Co Ltd (0921)?
Earnings per share at Hisense Home Appliances Group Co Ltd are HK$1.41 (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hisense Home Appliances Group Co Ltd (0921)?
The dividend yield of Hisense Home Appliances Group Co Ltd is 8.5% (payout 104%). 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 Hisense Home Appliances Group Co Ltd (0921)?
The net margin of Hisense Home Appliances Group Co Ltd is 2.7% (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 Hisense Home Appliances Group Co Ltd (0921)?
The return on equity (ROE) of Hisense Home Appliances Group Co Ltd is 16.5% (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 Hisense Home Appliances Group Co Ltd (0921)?
On an EBIT basis the return on assets of Hisense Home Appliances Group Co Ltd is 6.9% (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 Hisense Home Appliances Group Co Ltd (0921)?
The operating margin of Hisense Home Appliances Group Co Ltd is 2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hisense Home Appliances Group Co Ltd (0921)?
Revenue at Hisense Home Appliances Group Co Ltd is down 8.8% versus a year earlier (3y avg +5.9%). 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 Hisense Home Appliances Group Co Ltd (0921)?
Earnings per share at Hisense Home Appliances Group Co Ltd are down 74.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hisense Home Appliances Group Co Ltd (0921) carry?
The net debt of Hisense Home Appliances Group Co Ltd is 38.9M CNY (fiscal year 2025, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 12, 2026