Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Shanghai V-Test Semiconductor Tech Co. Ltd. A stock ¥42.68, price ¥72.89, that is 41.4% below the price, quality 38 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 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 6, 2026.
How to read this chart
48‑month range ¥26.58 – ¥188.88 · fair‑value band ¥32.01 – ¥53.35 · the ¥72.89 price screens above the ¥42.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Shanghai V-Test Semiconductor Tech. Co., Ltd. operates as an integrated circuit testing provider company in China. The company provides AOI, CP test, FT test, SLT test, burn in test, in tray mark, and lead scan solutions.
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It also offers wafer testing, chip product testing, and integrated circuit supporting; engages in testing equipment rental; and sales of testing auxiliary materials services.
The company's products are used in communications, computers, automotive electronics, industrial control, consumer electronics, and other fields. Shanghai V-Test Semiconductor Tech. Co., Ltd. was founded in 2016 and is based in Shanghai, China.
Stock analysis
Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) currently trades at ¥72.89, while our model-based Fair Value estimate is ¥42.68, 41% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥90.63 per share, and 3 of the 14 models we run sit above the ¥72.89 price.
Bear case: the Dividend Discount group reads lowest at ¥5.94, and 11 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥32.01 (bear) to ¥53.35 (bull), the price of ¥72.89 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 38/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Shanghai V-Test Semiconductor Tech Co. Ltd. A reported revenue of 1.6B CNY in FY2025 versus 493M CNY in FY2021, a compound +33.7%/yr. Reported net income was 303M CNY in FY2025, compounding +23.1%/yr from FY2021.
Key figures
Market cap 10.9B CNY (≈ $1.6B) Small · P/E ratio 37.2 · P/S ratio 5.00 · EPS (TTM) ¥1.96 · Dividend yield 0.8% · Net margin 16.0% · Return on equity 9.7% · Return on assets (EBIT) 6.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 61% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −12% fair-value upside, at −41%, 688372 screens richer than that median.
Fair Value models
Bear¥32.01Fair Value ¥42.68Bull¥53.35
Price ¥72.89 · Downside -41.4%
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 (¥1.22 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.
Best data coverage
Residual Income¥13.80¥14.72¥16.6274
Gordon GGM¥3.68¥6.07¥7.8166
EV/EBITDA¥47.26¥69.56¥91.8566
All 14 models by family
Earnings-Based
Graham-Dodd¥12.19¥85.04¥119.3461
Lynch FV¥43.93¥62.76¥81.5959
PEG = 1.0¥43.93¥62.76¥81.5955
Dividend Discount
Gordon GGM¥3.68¥6.07¥7.8166
DDM Multi-Stage¥3.68¥5.80¥6.5465
Multiples
P/E Multiple¥37.66¥50.21¥62.7663
P/S Multiple¥22.86¥30.49¥38.1158
P/B Multiple¥76.76¥102.34¥127.9355
EV/EBIT¥19.38¥32.37¥45.3764
EV/EBITDA¥47.26¥69.56¥91.8566
EV/Revenue¥0.0900¥8.54¥16.9946
Asset-Based
NCAV (Graham)¥8.53¥11.43¥17.0654
Economic Profit
Residual Income¥13.80¥14.72¥16.6274
Growth Earnings
Growth-Adj P/E¥63.44¥90.63¥117.8265
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+46.2%
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.
+29.0%
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.
+57.7%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+27.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.7%
Dividend (yield on the price)0.8%
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.29% → 23%
2025 sits 81% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Shanghai V-Test Semiconductor Tech Co. Ltd. A with another stock
Price, fair value, quality and upside side by side.
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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.Semiconductors · 399 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside−41.4% · Below median
Profitability
Return on equity (12 months)9.7% · Above median
Return on assets3.9% · Above median
Net margin (12 months)16.0% · Above median
Operating margin (12 months)19.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)35.9% · Above median
Dividend yield (12 months)0.8% · Below median
Balance sheet
Debt / equity1.06× · Highest 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (12 months)37.2× · Pricier than median
P/B3.66× · Pricier than median
P/S (12 months)5.00× · Pricier than median
EV/EBITDA14.4× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 100
PAST (return on equity)39· sector 24
HEALTH (low debt)47· sector 96
DIVIDEND (yield)15· sector 19
VALUE 0: the price sits above our fair-value range.
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). "Shanghai V-Test Semiconductor Tech Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688372
Frequently asked questions
Is Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥42.68 versus a price of ¥72.89, about 41% lower (overvalued).
What is the fair value of 688372?
Our model-based fair value for Shanghai V-Test Semiconductor Tech Co. Ltd. A is ¥42.68 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥72.89.
What is the quality score of 688372?
Shanghai V-Test Semiconductor Tech Co. Ltd. A has a Quality Score of 38/100. 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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Our model-based price target is the fair value of ¥42.68 (as of Nov 6, 2026) from 14 valuation models. Cautious scenario ¥32.01, optimistic scenario ¥53.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai V-Test Semiconductor Tech Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥42.68, about 41% lower versus a price of ¥72.89 (overvalued). Cautious scenario ¥32.01, optimistic scenario ¥53.35. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Shanghai V-Test Semiconductor Tech Co. Ltd. A reported trailing-twelve-month revenue of about 2.2B CNY (latest available figure, as of Nov 6, 2026).
Does Shanghai V-Test Semiconductor Tech Co. Ltd. A pay a dividend?
Shanghai V-Test Semiconductor Tech Co. Ltd. A currently shows a dividend yield of 0.75% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) and when is the ex-dividend date?
Shanghai V-Test Semiconductor Tech Co. Ltd. A pays a dividend of ¥0.55 per share a year, a dividend yield of 0.8%. The last ex-dividend date was Jun 24, 2026. The payout ratio is 28.1% of earnings. Our assessment: Token dividend. At a yield of 0.8% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.8% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai V-Test Semiconductor Tech Co. Ltd. A it is ¥42.68 per share (as of Nov 6, 2026), against a price of ¥72.89. It is the blended result of 14 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Shanghai V-Test Semiconductor Tech Co. Ltd. A stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 688372 trades above its calculated fair value: price ¥72.89, fair value ¥42.68, a gap of about −41% (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 688372?
No. The price is what the market pays today (¥72.89); the fair value is what the company's own numbers justify (¥42.68). For Shanghai V-Test Semiconductor Tech Co. Ltd. A the two are ¥30.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai V-Test Semiconductor Tech Co. Ltd. A worth?
The market values Shanghai V-Test Semiconductor Tech Co. Ltd. A at about 10.9B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥72.89; our models calculate a fair value of ¥42.68 per share.
What do the bullish and bearish scenarios say about 688372?
Our models span a range for Shanghai V-Test Semiconductor Tech Co. Ltd. A: cautious scenario ¥32.01, base ¥42.68, optimistic ¥53.35 per share (as of Nov 6, 2026, price ¥72.89). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688372?
Shanghai V-Test Semiconductor Tech Co. Ltd. A trades at a price-to-earnings ratio of 37.2 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥42.68 is built from several models across several years. Other multiples: P/B 3.7, P/S 5.0, EV/EBITDA 14.4.
How solid is the balance sheet of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Balance-sheet figures for Shanghai V-Test Semiconductor Tech Co. Ltd. A (as of Nov 6, 2026): return on equity 9.7%, debt of 1.06 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 688372 from its 52-week high?
Shanghai V-Test Semiconductor Tech Co. Ltd. A trades at ¥72.89, about 61% below its 52-week high of ¥188.88 and 11% above the low of ¥65.57 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥42.68 is for.
Which stocks are comparable to Shanghai V-Test Semiconductor Tech Co. Ltd. A?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, 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 Shanghai V-Test Semiconductor Tech Co. Ltd. A stock attractive at the current price?
The data as of Nov 6, 2026: price ¥72.89, calculated fair value ¥42.68 (−41%), Quality Score 38/100, from 14 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 688372 calculated?
We run Shanghai V-Test Semiconductor Tech Co. Ltd. A through 14 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ¥42.68 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 13.7% above its aggregate fair value. Shanghai V-Test Semiconductor Tech Co. Ltd. A 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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
The closing price on Nov 10, 2026 was ¥72.89. Our model-based fair value is ¥42.68, about 41% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shanghai V-Test Semiconductor Tech Co. Ltd. A right now?
The price sits above even our optimistic bull case (¥53.35). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Shanghai V-Test Semiconductor Tech Co. Ltd. A
How large is the market capitalisation of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
The market capitalisation of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 10.9B CNY (≈ $1.6B). 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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
The price-to-sales ratio of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 5.00 (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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Earnings per share at Shanghai V-Test Semiconductor Tech Co. Ltd. A are ¥1.96 (price ÷ EPS = P/E 37.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
The dividend yield of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 0.8% (payout 28.1%). 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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
The net margin of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 16.0% (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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
The return on equity (ROE) of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 9.7% (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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
On an EBIT basis the return on assets of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 6.2% (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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
The operating margin of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 19.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Revenue at Shanghai V-Test Semiconductor Tech Co. Ltd. A is growing +35.9% versus a year earlier (3y avg +29.0%). 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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372)?
Earnings per share at Shanghai V-Test Semiconductor Tech Co. Ltd. A are growing −26.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) generate?
The free cash flow of Shanghai V-Test Semiconductor Tech Co. Ltd. A is −2.2B 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 Shanghai V-Test Semiconductor Tech Co. Ltd. A (688372) carry?
The net debt of Shanghai V-Test Semiconductor Tech Co. Ltd. A is 3.3B 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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Nov 6, 2026