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Hillstone Networks Co Ltd (688030) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Hillstone Networks Co Ltd stock ¥11.42, price ¥14.50, that is 21.2% below the price, quality 39 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology CN · ISIN CNE100003P66

HN Hillstone Networks Co Ltd logo Thin data Nov 10, 2026

Hillstone Networks Co Ltd

688030 · SHG
Expensive, weak quality

Our calculation puts a fair price 21% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +4.7 %/yr in CNY)
Fair value ¥11.42 · Overvalued
Quality 39/100
Loss-making · -14.7% net margin (TTM)
Negative free cash flow
Trails peers (1/11)
Narrow moat 25/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥31.89 ¥9.59 Fair Value ¥11.42 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ¥9.59 – ¥31.89 · fair‑value band ¥8.56 – ¥14.27 · the ¥14.50 price screens above the ¥11.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Hillstone Networks Co.,Ltd. provides an infrastructure protection solutions to enterprises and service providers.

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The company provides edge protection solutions; cloud protection and security management solutions; breach protection solutions; and application delivery controller solution, as well as technical support and training services.

It offers zero-trust network access; extended detection and response; cloud workload protection; secure SD-wan; network detection and response; and micro-segmentation for cloud data centers solutions.

In addition, the company provides border security, cloud security, intranet security, data security, business security, intelligent security operation, security service, and security operation and maintenance services.

The company serves safeguarding telcos and ISPs; fortifying financial services; enhancing security in higher education; and defending government agencies industries. Hillstone Networks Co.,Ltd. was founded in 2006 and is headquartered in Suzhou, China.

Stock analysis

Hillstone Networks Co Ltd (688030) currently trades at ¥14.50, while our estimate is ¥11.42, 21% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥8.56 (bear) to ¥14.27 (bull), the price of ¥14.50 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 39/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Hillstone Networks Co Ltd reported revenue of 911M CNY in FY2025 versus 1.0B CNY in FY2021, a compound −2.9%/yr. Reported net income was −192M CNY in FY2025.

Key figures

Market cap 2.6B CNY (≈ $392M) Small · P/S ratio 2.68 · EPS (TTM) ¥−0.7600 · Dividend yield 0.5% · Net margin −14.7% · Return on equity −17.7% · Return on assets (EBIT) −7.7% (5-year average) · Operating margin 19.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (low confidence).

What moves the price

The share trades about 29% below its 52-week high and 8% 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 −21%, 688030 screens richer than that median.

Fair Value

Bear ¥8.56 Fair Value ¥11.42 Bull ¥14.27
Price ¥14.50 · Downside -21.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 39/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 22
How much profit the company makes from its sales and capital
Quality Growth 31
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 38
Debt, balance sheet and risk of trouble
Investment 97
Does it invest with discipline instead of growing at any price?
Low Volatility 64
How calm the share price moves, does not count
Price momentum 28
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 10
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 16/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−8.5%
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.
+3.9%
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.
+4.7%
Start year 2020 (pandemic)
Revenue growth 9 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.
+12.1%
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.
7.0% (2020) → −22.0% (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

688030 screens overvalued: fair value 21% below the price. Compare with Microsoft Corporation →

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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 · 410 stocks

Beats the industry median on 1/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Below median
Fair Value upside −21.2% · Below median
Profitability
Return on assets −9.8% · Below median
Net margin (12 months) −14.7% · Bottom 25%
Operating margin (12 months) 19.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −5.0% · Bottom 25%
Dividend yield (12 months) 0.5% · Below median
Balance sheet
Debt / equity 0.38× · Highest 25%

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/B 3.57× · Pricier than median
P/S (12 months) 2.81× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)5 · sector 22
FUTURE (revenue growth)0 · sector 60
PAST (return on equity)0 · sector 15
HEALTH (low debt)81 · sector 98
DIVIDEND (yield)10 · sector 27

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Microsoft Corporation MSFT $533.16 $599.70 +12% vs 688030
Fortinet, Inc FTNT $123.57 $130.72 +6% vs 688030
Oracle Corporation ORCL $117.98 $111.97 −5% vs 688030
Block, Inc XYZ $85.58 $76.43 −11% vs 688030
NetApp, Inc NTAP $175.99 $156.80 −11% vs 688030
Synopsys, Inc SNPS $459.95 $288.23 −37% vs 688030
Zscaler, Inc ZS $194.92 $101.45 −48% vs 688030
Palantir Technologies Inc PLTR $168.82 $42.20 −75% vs 688030
CrowdStrike Holdings CRWD $225.76 $37.97 −83% vs 688030
Palo Alto Networks, Inc PANW $326.36 $39.54 −88% vs 688030

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Hillstone Networks Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Hillstone Networks Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/688030

Frequently asked questions

Is Hillstone Networks Co Ltd (688030) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ¥11.42 versus a price of ¥14.50, about 21% lower (overvalued).
What is the fair value of 688030?
Our estimate for Hillstone Networks Co Ltd is ¥11.42 (as of Nov 10, 2026), built from audited fundamentals. The current price: ¥14.50.
What is the quality score of 688030?
Hillstone Networks Co Ltd has a Quality Score of 39/100. 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 Hillstone Networks Co Ltd (688030)?
Our calculated price target is the estimate of ¥11.42 (as of Nov 10, 2026). Cautious scenario ¥8.56, optimistic scenario ¥14.27. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Hillstone Networks Co Ltd stock forecast for 2026?
Our estimate puts fair value at ¥11.42, about 21% lower versus a price of ¥14.50 (overvalued). Cautious scenario ¥8.56, optimistic scenario ¥14.27. The calculation is refreshed regularly with new filings.
What is the revenue of Hillstone Networks Co Ltd (688030)?
Hillstone Networks Co Ltd reported trailing-twelve-month revenue of about 931M CNY (latest available figure, as of Nov 10, 2026).
Does Hillstone Networks Co Ltd pay a dividend?
Hillstone Networks Co Ltd currently shows a dividend yield of 0.50% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Hillstone Networks Co Ltd (688030)?
Hillstone Networks Co Ltd has a dividend yield of 0.5%.
What is the intrinsic value of Hillstone Networks Co Ltd (688030)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hillstone Networks Co Ltd it is ¥11.42 per share (as of Nov 10, 2026), against a price of ¥14.50.
Is Hillstone Networks Co Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 688030 trades above its calculated fair value: price ¥14.50, fair value ¥11.42, a gap of about −21% (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 688030?
No. The price is what the market pays today (¥14.50); the fair value is what the company's own numbers justify (¥11.42). For Hillstone Networks Co Ltd the two are ¥3.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hillstone Networks Co Ltd worth?
The market values Hillstone Networks Co Ltd at about 2.6B CNY (market capitalisation, as of Nov 10, 2026). Per share that is ¥14.50; our models calculate a fair value of ¥11.42 per share.
What do the bullish and bearish scenarios say about 688030?
Our models span a range for Hillstone Networks Co Ltd: cautious scenario ¥8.56, base ¥11.42, optimistic ¥14.27 per share (as of Nov 10, 2026, price ¥14.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hillstone Networks Co Ltd (688030)?
Balance-sheet figures for Hillstone Networks Co Ltd (as of Nov 10, 2026): return on equity −17.7%, debt of 0.38 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 688030 from its 52-week high?
Hillstone Networks Co Ltd trades at ¥14.50, about 29% below its 52-week high of ¥20.49 and 8% above the low of ¥13.48 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥11.42 is for.
Which stocks are comparable to Hillstone Networks 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 Hillstone Networks Co Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price ¥14.50, calculated fair value ¥11.42 (−21%), Quality Score 39/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Hillstone Networks 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 Hillstone Networks Co Ltd (688030)?
The closing price on Nov 10, 2026 was ¥14.50. Our estimate is ¥11.42, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hillstone Networks Co Ltd right now?
Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Hillstone Networks Co Ltd

How large is the market capitalisation of Hillstone Networks Co Ltd (688030)?
The market capitalisation of Hillstone Networks Co Ltd is 2.6B CNY (≈ $392M). 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 Hillstone Networks Co Ltd (688030)?
The price-to-sales ratio of Hillstone Networks Co Ltd is 2.68 (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 Hillstone Networks Co Ltd (688030)?
Earnings per share at Hillstone Networks Co Ltd are ¥−0.7600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hillstone Networks Co Ltd (688030)?
The dividend yield of Hillstone Networks Co Ltd is 0.5%. 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 Hillstone Networks Co Ltd (688030)?
The net margin of Hillstone Networks Co Ltd is −14.7% (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 Hillstone Networks Co Ltd (688030)?
The return on equity (ROE) of Hillstone Networks Co Ltd is −17.7% (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 Hillstone Networks Co Ltd (688030)?
On an EBIT basis the return on assets of Hillstone Networks Co Ltd is −7.7% (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 Hillstone Networks Co Ltd (688030)?
The operating margin of Hillstone Networks Co Ltd is 19.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hillstone Networks Co Ltd (688030)?
Revenue at Hillstone Networks Co Ltd is growing −5.0% versus a year earlier (3y avg +3.9%). 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 Hillstone Networks Co Ltd (688030)?
Earnings per share at Hillstone Networks Co Ltd are growing +32.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hillstone Networks Co Ltd (688030) generate?
The free cash flow of Hillstone Networks Co Ltd is −143M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hillstone Networks Co Ltd (688030) carry?
The net debt of Hillstone Networks Co Ltd is 404M CNY (fiscal year 2025). 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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