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BOE Technology Group (200725) Fair Value & Analysis

Technology · CN · Market cap HK$190B

BT BOE Technology Group 200725 · SHE
PriceHK$5.12
Fair ValueHK$3.62
Upside-29.3%
Quality61/100
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Expensive Growth
Thin margins · 2.9% net margin
Moderate debt · generates free cash flow
1.04% dividend yield
Mixed vs. peers (7/15)
Narrow moat 27/100
Evidence: Medium Range HK$2.71 – HK$4.52 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 24 days ago

Fair value updated Jul 15, 2026, revised from HK$3.13 to HK$3.62 (+15.7%) since Jul 7, 2026. Share price +4.3% over the past month.

A solid business, but screening 29% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$4.52). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

HK$6.00 HK$2.21 Fair Value HK$3.62 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range HK$2.21 – HK$6.00 · fair‑value band HK$2.71 – HK$4.52 · the HK$5.12 price screens above the HK$3.62 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

BOE Technology Group (200725) currently trades at HK$5.12, while our model-based Fair Value estimate is HK$3.62, implying the stock looks roughly 29.3% overvalued today. We read business quality at 61/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, BOE Technology Group generated revenue of HK$205B at a net margin of 2.9%. Revenue grew 0.8% year over year. It earns a return on equity of 2.3%. Net debt stands at HK$44.0B. Fundamentals as of Jul 15, 2026

Our scenario range runs from HK$2.71 (bear case) to HK$4.52 (bull case); at HK$5.12, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 106% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -29%, 200725 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF HK$2.48 HK$5.79 HK$12.22 80
Residual Income HK$2.73 HK$2.77 HK$2.59 76
Rev-Margin DCF HK$2.11 HK$5.28 HK$10.07 74
All 26 models by family
DCF Models
FCF DCF HK$2.67 HK$5.10 HK$12.27 38
Owner Earnings HK$0.7100 HK$2.99 HK$7.78 31
5Y Revenue Exit HK$2.11 HK$4.79 HK$10.07 39
5Y EBITDA Exit HK$9.28 HK$20.12 HK$40.32 41
5Y P/E Exit HK$1.64 HK$4.32 HK$7.76 38
10Y Revenue Exit HK$2.16 HK$5.65 HK$9.44 36
10Y EBITDA Exit HK$7.35 HK$19.51 HK$42.99 37
10Y P/E Exit HK$1.94 HK$4.73 HK$9.48 35
Earnings-Based
Graham-Dodd HK$1.06 HK$7.42 HK$10.42 54
Lynch FV HK$2.30 HK$3.28 HK$4.27 50
PEG = 1.0 HK$2.30 HK$3.28 HK$4.27 46
EPV HK$1.57 HK$2.02 HK$2.40 59
Dividend Discount
Gordon GGM HK$1.45 HK$3.02 HK$4.79 70
DDM Multi-Stage HK$1.45 HK$2.54 HK$3.17 61
Multiples
P/E Multiple HK$2.35 HK$3.13 HK$3.91 63
P/S Multiple HK$2.00 HK$2.66 HK$3.33 58
P/B Multiple HK$2.00 HK$2.66 HK$3.33 55
EV/EBIT HK$3.10 HK$4.49 HK$5.88 53
EV/EBITDA HK$11.97 HK$16.32 HK$20.67 54
EV/Revenue HK$1.74 HK$2.94 HK$4.15 43
Asset-Based
NCAV (Graham) HK$1.80 HK$2.41 HK$3.59 50
Growth DCF
Growth DCF HK$2.48 HK$5.79 HK$12.22 80
Rev-Margin DCF HK$2.11 HK$5.28 HK$10.07 74
Economic Profit
Residual Income HK$2.73 HK$2.77 HK$2.59 76
ROIC Compounder HK$1.57 HK$2.02 HK$2.40 72
Growth Earnings
Growth-Adj P/E HK$3.04 HK$4.34 HK$5.64 68

Widest divergence: Growth DCF (HK$5.28) versus Economic Profit (HK$2.02). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) HK$205B
Revenue growth (YoY) +0.8%
Net margin 2.9%
Return on equity 2.3%
Free cash flow HK$8.7B FY2025
P/E ratio 23.9
More key figures
Operating margin 5.5%
EPS (TTM) HK$0.2000
Dividend yield 1.2%
EPS growth (YoY) +25.0%
Net debt HK$44.0B FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 50 · Market factors (momentum, volatility) 86

Profitability 23
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 96
Price trend over the last 3–12 months (market factor)
52W Momentum 86
Distance to the 52-week high (market factor)
Net Issuance 84
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

BOE Technology Group Company Limited operates display, Internet of Things (IoT) innovation, sensor, and MLED, smart medicine engineering, and other business in Mainland China and internationally. The Display Business segment designs and manufactures display devices, including TFT-LCD, AMOLED, micro displays, and other intelligent interface devices.

Full company description

BOE Technology Group Company Limited operates display, Internet of Things (IoT) innovation, sensor, and MLED, smart medicine engineering, and other business in Mainland China and internationally. The Display Business segment designs and manufactures display devices, including TFT-LCD, AMOLED, micro displays, and other intelligent interface devices. Its IoT Innovation Business segment designs integrated manufacturing models for system solutions; smart terminal products, such as tablets, laptops, displays, televisions, low-power consumption, IoT, 3D displays, etc.; and IoT solutions. The Sensor Business segment offers X-ray flat panel detector backboards, intelligent dimming windows and dimming system solutions, consumer electronics and industrial application solutions, packaging carriers, and other products. Its MLED Business segment provides Mini-LED backlight products for TV, display, laptop, car, and other fields, as well as Mini/Micro-LED display products for the usage of outdoor, commercial, transparent, special, and other display applications. The Smart Medicine and Engineering Business segment offers professional services and solutions in healthcare, intelligent rehabilitation, and medical-engineering integration products. Its Others segment provides software-hardware fusion and system integration solutions for intelligent internet of vehicles, industrial interconnection, and other industries. The company was founded in 1993 and is headquartered in Beijing, the People's Republic of China. BOE Technology Group Company Limited operates as a subsidiary of Beijing Electronics Holdings Co., Ltd.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BOE Technology Group reported revenue of HK$205B in FY2025 versus HK$221B in FY2021, a compound −1.9%/yr. Reported net income was HK$5.9B in FY2025, compounding −31.1%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$205B
Latest YoY
+3.1%
Avg. growth/yr (3Y)
+4.7%
Avg. growth/yr (5Y)
+8.6%
Avg. growth/yr (31Y)
+26.7%
Revenue −1.9%/yr
FY21 HK$221B
FY22 HK$178B
FY23 HK$175B
FY24 HK$198B
FY25 HK$205B
Net income −31.1%/yr
FY21 HK$26.0B
FY22 HK$7.5B
FY23 HK$2.5B
FY24 HK$5.3B
FY25 HK$5.9B

200725 screens 29% overvalued. Compare with Delta Electronics, Inc →

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BOE Technology Group · Fair Value
HK$3.62 −29%Fair Value
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Cite: Fair Value Calculator (2026). "BOE Technology Group Fair Value". https://www.fairvalue-calculator.com/stock/200725

Peer Group

Electronic Components · 626 stocks

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.

Quality Score 61 · Top 25%
Fair Value upside −29% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth 1% · Below median
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.84× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 25.6× · Cheaper than median
P/B 1.41× · Cheaper than median
P/S (TTM) 0.93× · Cheaper than median
P/FCF 2.8× · Pricier than median
EV/EBITDA 5.4× · Cheaper than 75% of peers
PEG 0.15× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 4 · sector 32
PAST 9 · sector 24
HEALTH 58 · sector 95
DIVIDEND 21 · sector 24

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is BOE Technology Group (200725) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of HK$3.62 versus a price of HK$5.12, about −29% (overvalued).
What is the fair value of 200725?
Our model-based fair value for BOE Technology Group is HK$3.62 (as of Jul 15, 2026), built from audited fundamentals. The current price is HK$5.12.
What is the quality score of 200725?
BOE Technology Group has a Quality Score of 61/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of BOE Technology Group (200725)?
BOE Technology Group reported trailing-twelve-month revenue of about HK$205B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 200725?
The net profit margin of BOE Technology Group is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.
Does BOE Technology Group pay a dividend?
BOE Technology Group currently shows a dividend yield of about 1.18% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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