Surfilter Network Technology Co Ltd (300311) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Surfilter Network Technology Co Ltd stock ¥0.63, price ¥4.83, that is 87.0% below the price, quality 67 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 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 5, 2026.
How to read this chart
60‑month range ¥2.90 – ¥12.40 · fair‑value band ¥0.4200 – ¥0.9000 · the ¥4.83 price screens above the ¥0.6300 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 5, 2026.
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Surfilter Network Technology Co., Ltd. provides network information security solutions in China and internationally. The company offers network security protection product, such as zero trust, data, and border security; security perception; secure access; and security audit.
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It also provides government regulated product, including critical infrastructure security supervision, important information system security supervision, wireless internet information security system, internet financial fraud prevention and combat, and internet content security supervision, as well as prevent and crack down on the black industry on the internet.
In addition, the company offers network security level, network security attack ad defense drills, cloud security, video network security, and security operation management solutions. It serves enterprises, institutions, medical care, education, finance, operators, and other customers.
The company was founded in 2000 and is headquartered in Shenzhen, China.
Stock analysis
Surfilter Network Technology Co Ltd (300311) currently trades at ¥4.83, while our model-based Fair Value estimate is ¥0.6300, 87% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥1.13 per share, and 1 of the 25 models we run sit above the ¥4.83 price.
Bear case: the Asset-Based group reads lowest at ¥0.4500, and 24 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: ¥0.4200 (bear) to ¥0.9000 (bull), the price of ¥4.83 sits above 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 67/100 (solid quality), in the Technology sector.
Mixed Growth: Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.
Surfilter Network Technology Co Ltd reported revenue of 489M CNY in FY2025 versus 695M CNY in FY2021, a compound −8.4%/yr. Reported net income was 23.0M CNY in FY2025.
Key figures
Market cap 3.4B CNY (≈ $509M) Small · P/E ratio 96.6 · P/S ratio 9.79 · EPS (TTM) ¥0.0500 · Dividend yield 0.0% · Net margin 7.3% · Return on equity 4.1% · Return on assets (EBIT) −1.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −87%, 300311 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.0100 to ¥5.45). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear¥0.4200Fair Value ¥0.6300Bull¥0.9000
Price ¥4.83 · Downside -87.0%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.0427 per share) are deliberately not added.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.55/100
Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.
Revenue growth 1 year
+3.6%
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.
−12.5%
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.
−11.0%
Start year 2020 (pandemic)
Revenue growth 7 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.
−11.8%
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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.
≈ +6.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +6.2%
Dividend (yield on the price)0.0%
Per share before 2018divided by the spin-off factor 1.4911
Profit margin 2018 to 2024 ⓘ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.11% → −10%
⚠ Revenue per share shrinking 11.0%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.025 per share, median 0.21 in 2017 to 2018). It measures the recovery from the trough, not lasting growth.
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).
+54.5%
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 +52.0% a year for the price.
Compare Surfilter Network Technology Co Ltd with another stock
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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.Software - Infrastructure · 345 stocks
Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside−87.0% · Bottom 25%
Profitability
Return on equity (12 months)4.1% · Below median
Return on assets2.6% · Above median
Net margin (12 months)10.2% · Above median
Operating margin (12 months)−10.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−27.9% · Bottom 25%
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.31× · Above median
Valuation Multiplesvs Software - Infrastructure 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). "Surfilter Network Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/300311
Frequently asked questions
Is Surfilter Network Technology Co Ltd (300311) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ¥0.6300 versus a price of ¥4.83, about 87% lower (overvalued).
What is the fair value of 300311?
Our model-based fair value for Surfilter Network Technology Co Ltd is ¥0.6300 (as of Nov 5, 2026), built from audited fundamentals. The current price: ¥4.83.
What is the quality score of 300311?
Surfilter Network Technology Co Ltd has a Quality Score of 67/100. 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 Surfilter Network Technology Co Ltd (300311)?
Our model-based price target is the fair value of ¥0.6300 (as of Nov 5, 2026) from 25 valuation models. Cautious scenario ¥0.4200, optimistic scenario ¥0.9000. It is a calculation from audited fundamentals, not an analyst target.
What is the Surfilter Network Technology Co Ltd stock forecast for 2026?
Our models put fair value at ¥0.6300, about 87% lower versus a price of ¥4.83 (overvalued). Cautious scenario ¥0.4200, optimistic scenario ¥0.9000. The calculation is refreshed regularly with new filings.
What is the revenue of Surfilter Network Technology Co Ltd (300311)?
Surfilter Network Technology Co Ltd reported trailing-twelve-month revenue of about 483M CNY (latest available figure, as of Nov 5, 2026).
Does Surfilter Network Technology Co Ltd pay a dividend?
Surfilter Network Technology Co Ltd currently shows a dividend yield of 0.03% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Surfilter Network Technology Co Ltd (300311)?
Surfilter Network Technology Co Ltd has a dividend yield of 0.0%.
What growth is priced into Surfilter Network Technology Co Ltd (300311)?
For today's price to be fair in a discounted-cash-flow model, Surfilter Network Technology Co Ltd would have to grow free cash flow by +54.5 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -11.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 300311 use?
Our models discount Surfilter Network Technology Co Ltd at 10.4 %: a base by market capitalisation (small), damped by beta 0.35, 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 Surfilter Network Technology Co Ltd that is +54.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Surfilter Network Technology Co Ltd (300311) delivered so far?
Over the past 5 years revenue at Surfilter Network Technology Co Ltd grew -11.0 % a year. The price currently implies free-cash-flow growth of +54.5 % 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 Surfilter Network Technology Co Ltd (300311) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Surfilter Network Technology Co Ltd (+54.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Surfilter Network Technology Co Ltd (300311)?
The free-cash-flow yield on the price is 0.60 %: that much free cash flow Surfilter Network Technology Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Surfilter Network Technology Co Ltd (300311)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Surfilter Network Technology Co Ltd it is ¥0.6300 per share (as of Nov 5, 2026), against a price of ¥4.83. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Surfilter Network Technology Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 300311 trades above its calculated fair value: price ¥4.83, fair value ¥0.6300, a gap of about −87% (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 300311?
No. The price is what the market pays today (¥4.83); the fair value is what the company's own numbers justify (¥0.6300). For Surfilter Network Technology Co Ltd the two are ¥4.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is Surfilter Network Technology Co Ltd worth?
The market values Surfilter Network Technology Co Ltd at about 3.4B CNY (market capitalisation, as of Nov 5, 2026). Per share that is ¥4.83; our models calculate a fair value of ¥0.6300 per share.
What do the bullish and bearish scenarios say about 300311?
Our models span a range for Surfilter Network Technology Co Ltd: cautious scenario ¥0.4200, base ¥0.6300, optimistic ¥0.9000 per share (as of Nov 5, 2026, price ¥4.83). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300311?
Surfilter Network Technology Co Ltd trades at a price-to-earnings ratio of 96.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥0.6300 is built from several models across several years. Other multiples: P/B 5.0, P/S 9.8, EV/EBITDA 70.2.
How solid is the balance sheet of Surfilter Network Technology Co Ltd (300311)?
Balance-sheet figures for Surfilter Network Technology Co Ltd (as of Nov 5, 2026): return on equity 4.1%, debt of 0.31 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 300311 from its 52-week high?
Surfilter Network Technology Co Ltd trades at ¥4.83, about 33% below its 52-week high of ¥7.16 and 13% above the low of ¥4.29 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥0.6300 is for.
Which stocks are comparable to Surfilter Network Technology Co Ltd?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, 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 Surfilter Network Technology Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price ¥4.83, calculated fair value ¥0.6300 (−87%), Quality Score 67/100, from 25 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 300311 calculated?
We run Surfilter Network Technology Co Ltd through 25 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 ¥0.6300 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 13.0% above its aggregate fair value. Surfilter Network Technology Co Ltd 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 Surfilter Network Technology Co Ltd (300311)?
The closing price on Nov 6, 2026 was ¥4.83. Our model-based fair value is ¥0.6300, about 87% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Surfilter Network Technology Co Ltd right now?
The price sits above even our optimistic bull case (¥0.9000). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥0.4200 to ¥0.9000) leaves room in how you read the outcome.
Key figures of Surfilter Network Technology Co Ltd
How large is the market capitalisation of Surfilter Network Technology Co Ltd (300311)?
The market capitalisation of Surfilter Network Technology Co Ltd is 3.4B CNY (≈ $509M). 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 Surfilter Network Technology Co Ltd (300311)?
The price-to-sales ratio of Surfilter Network Technology Co Ltd is 9.79 (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 Surfilter Network Technology Co Ltd (300311)?
Earnings per share at Surfilter Network Technology Co Ltd are ¥0.0500 (price ÷ EPS = P/E 96.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Surfilter Network Technology Co Ltd (300311)?
The dividend yield of Surfilter Network Technology Co Ltd is 0.0% (payout 2.9%). 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 Surfilter Network Technology Co Ltd (300311)?
The net margin of Surfilter Network Technology Co Ltd is 7.3% (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 Surfilter Network Technology Co Ltd (300311)?
The return on equity (ROE) of Surfilter Network Technology Co Ltd is 4.1% (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 Surfilter Network Technology Co Ltd (300311)?
On an EBIT basis the return on assets of Surfilter Network Technology Co Ltd is −1.5% (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 Surfilter Network Technology Co Ltd (300311)?
The operating margin of Surfilter Network Technology Co Ltd is −10.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Surfilter Network Technology Co Ltd (300311)?
Revenue at Surfilter Network Technology Co Ltd is growing −27.9% versus a year earlier (3y avg −12.5%). 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 Surfilter Network Technology Co Ltd (300311)?
Earnings per share at Surfilter Network Technology Co Ltd are growing +104% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Surfilter Network Technology Co Ltd (300311) carry?
The net debt of Surfilter Network Technology Co Ltd is 2.9M CNY (fiscal year 2018, ≈ 0.2 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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Thin data
Nov 5, 2026