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STOCK COMPARISON

Beijing Infosec Technologies Co. Ltd. A vs International Business Machines: Fair Value & Quality

Both stocks run through our valuation models. Here is how Beijing Infosec Technologies Co. Ltd. A (688201) and International Business Machines (IBM) compare, as of Sep 28, 2026.

As of Sep 28, 2026, Fair Value Calculator sees International Business Machines as the less overvalued of the two: Beijing Infosec Technologies Co. Ltd. A trades at ¥7.71 versus a fair value of ¥1.81 (−76.5%), while International Business Machines trades at $226 versus $187 (−17.3%).
Beijing Infosec Technologies Co. Ltd. A
688201.SHG · CNY · Information Technology
−76.5%
upside to fair value
overvalued
Price¥7.71
Fair Value¥1.81
Quality61/100
International Business Machines
IBM · USD · Information Technology
−17.3%
upside to fair value
overvalued
Price$226
Fair Value$187
Quality63/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Beijing Infosec Technologies Co. Ltd. AInternational Business Machines
Valuation
77.1×P/E (TTM)19.9×
n/aForward P/E (FY2027)17.2×
n/aMedian P/E at FY-end (5 FY, ex one-offs where documented)25.6×
4.42×P/S (TTM)3.11×
1.87×P/B6.58× · book value is mostly goodwill
39.3×EV/EBITDA15.5×
n/aPEG2.19×
−76.5%Fair value upside−17.3%
0.3%Dividend yield3.0%
¥0.03Dividend per share$6.73
Profitability
-12.4%Operating margin16.6%
0.34×EBIT margin trend (5Y)1.63×
3.0%Return on equity34.5%
1.1%Return on assets5.3%
Growth
14.6%Revenue growth (YoY)1.1%
-6.3%Avg. growth/yr (3Y)3.7%
5.4%Avg. growth/yr (5Y)n/a
−33.5%Value creation/yr+16.2%
Balance & size
87.3×Interest coverage (EBIT/interest)5.3×
0.01×Debt / equity1.68×
$364MMarket cap$215B
weakGrowth qualityhealthy
International Business Machines, median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2023, FY2024, FY2025 ex one-offs: 25.6.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

International Business Machines leads: 2 to 11 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Beijing Infosec Technologies Co. Ltd. Aof which business quality 62 · market factors 29 International Business Machinesof which business quality 61 · market factors 32
ProfitabilityMargins and returns on capital today
26
59
Quality GrowthAre margins and returns improving?
60
68
CashflowEarnings quality: real cash, not paper profit
54
70
Fin. StrengthBalance sheet, leverage, solvency risk
87
39
InvestmentDisciplined investing over empire-building
82
66
Low VolatilityCalm price path (market factor)
58
52
MomentumPrice trend over the last 3–12 months (market factor)
23
27
52W MomentumDistance to the 52-week high (market factor)
7
18
Net IssuanceShare count: buybacks or dilution?
73
74

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyBeijing Infosec Technologies Co. Ltd. APrice ¥7.71International Business MachinesPrice $226
DCF Models−69.6%below the price¥2.34−18.1%below the price$185
Earnings-Based−89.8%below the price¥0.79−62.6%below the price$84.42
Dividend Discount−99.6%below the price¥0.03−66.2%below the price$76.12
Multiples−70.0%below the price¥2.32−9.0%close to the price$205
Asset-Based−64.1%below the price¥2.77−89.7%below the price$23.22
Growth DCF−73.4%below the price¥2.05−36.9%below the price$142
Economic Profit−72.6%below the price¥2.11−67.2%below the price$74.02
Growth Earnings−80.4%below the price¥1.51+4.6%close to the price$236
Minimum−99.6%below the price¥0.03−89.7%below the price$23.22
Maximum−64.1%below the price¥2.77+4.6%close to the price$236
Median−73.0%below the price¥2.08−49.7%below the price$113
Geometric mean−85.6%below the price¥1.11−53.7%below the price$104

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Beijing Infosec Technologies Co. Ltd. A: 26 of 26 models see the stock below the current price.

International Business Machines: 20 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Beijing Infosec Technologies Co. Ltd. A
Price ¥7.71
Fair Value ¥1.81
Bear ¥1.36Bull ¥2.27
International Business Machines
Price $226
Fair Value $187
Bear $121Bull $266

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Beijing Infosec Technologies Co. Ltd. A · Information Technology

Quality score61 · above median
Fair value upside−76.5% · bottom 25%

International Business Machines · Information Technology

Quality score63 · above median
Fair value upside−17.3% · above median

Bottom line

As of Sep 28, 2026, Fair Value Calculator sees International Business Machines as the less overvalued of the two: Beijing Infosec Technologies Co. Ltd. A trades at ¥7.71 versus a fair value of ¥1.81 (−76.5%), while International Business Machines trades at $226 versus $187 (−17.3%).

International Business Machines has the higher quality score (63/100).

Open International Business Machines live analysis →
Beijing Infosec Technologies Co. Ltd. A · International Business Machines

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.