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Shenzhen Dobot Corp (2432) Fair Value & Analysis

Industrials · HK · Market cap HK$11.2B

SD Shenzhen Dobot Corp 2432 · HK
PriceHK$26.24
Fair ValueHK$5.82
Upside-77.8%
Quality32/100
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Expensive Growth
Loss-making · -17.0% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 1/100
Evidence: Low Range HK$3.84 – HK$7.27 Share as image

Fair value as of: Aug 6, 2026

From 1 valuation models · updated 4 days ago

Fair value updated Aug 6, 2026, revised from HK$5.83 to HK$5.82 (−0.2%) since Jul 2, 2026. Share price +5.3% over the past month.

Below-average quality, and screening another 78% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$7.27). The favourable scenario is already priced in.
  • Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (HK$3.84 to HK$7.27) leaves room in how you read the outcome.
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Price vs Fair Value (20 months)

HK$76.00 HK$18.80 Fair Value HK$5.82 Dec 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

20‑month range HK$18.80 – HK$76.00 · fair‑value band HK$3.84 – HK$7.27 · the HK$26.24 price screens above the HK$5.82 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Shenzhen Dobot Corp (2432) currently trades at HK$26.24, while our model-based Fair Value estimate is HK$5.82, implying the stock looks roughly 77.8% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Industrials 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: low).

Over the trailing twelve months, Shenzhen Dobot Corp generated revenue of HK$492M at a net margin of -17.0%. Revenue grew 33.9% year over year. It earns a return on equity of -4.7%. The balance sheet holds a net cash position of HK$501M. Fundamentals as of Aug 6, 2026

Our scenario range runs from HK$3.84 (bear case) to HK$7.27 (bull case); at HK$26.24, 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 about 59% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -78%, 2432 screens richer 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 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. Evidence
Highest evidence
NCAV (Graham) HK$3.33 HK$4.46 HK$6.66 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$3.33 HK$4.46 HK$6.66 50

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Key figures & financial health

Revenue (TTM) HK$492M
Revenue growth (YoY) +33.9%
Net margin -17.0%
Return on equity -4.7%
Free cash flow −HK$57.8M FY2025
Operating margin -14.7%
More key figures
EPS (TTM) HK$-0.1000
Net cash HK$501M FY2025

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 37 · Market factors (momentum, volatility) 4

Profitability 6
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 36
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

Shenzhen Dobot Corp Ltd specializes in the development, manufacturing, and commercialization of collaborative robots, known as cobots in China and Hong Kong. The company's cobots are categorized into two types: four-axis cobots and six-axis cobots. It sells its six-axis cobots under the CR Series and the Nova Series.

Full company description

Shenzhen Dobot Corp Ltd specializes in the development, manufacturing, and commercialization of collaborative robots, known as cobots in China and Hong Kong. The company's cobots are categorized into two types: four-axis cobots and six-axis cobots. It sells its six-axis cobots under the CR Series and the Nova Series. The company's four-axis cobot series primarily consist of Magician Series and M Series. Its four-axis cobots are used for desktop-level use cases and light manufacturing use cases, such as labeling and electronic component testing processes. It also offers integrated cobots for use in various industries, such as palletizing, welding, mobile operation, and vocational training. Additionally, it develops an AI-empowered cobot platform, X-Trainer for data collection, low latency, and generalized learning system. The company's CR Series includes six-axis cobot models targeting industrial manufacturers for production systems. Its Nova Series offers six-axis cobots designed for use cases in customer-facing settings, such as coffee making and latte decoration in coffee shops, physical therapy in clinics, and beverage making. Its Magician Series offers three models, including two models of four-axis cobots, Magician and Magician Lite, as well as a model of six-axis cobots, Magician E6, designed for education institutions to assist students at various levels in STEAM curricula, such as AI and programming, cobot application trainings, and research and scientific trainings. Additionally, its M Series includes MG400 and M1 Pro, four-axis cobot models for light manufacturing. Its products are used in industries, such as manufacturing, retail, healthcare, STEAM education, and scientific research settings. The company was formerly known as Shenzhen Yuejiang Technology Co., Ltd. and changed its name to Shenzhen Dobot Corp Ltd in December 2022. Shenzhen Dobot Corp Ltd was incorporated in 2015 and is headquartered in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shenzhen Dobot Corp reported revenue of HK$492M in FY2025 versus HK$174M in FY2021, a compound +29.6%/yr. Reported net income was −HK$83.5M in FY2025.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$492M
Latest YoY
+31.7%
Avg. growth/yr (3Y) 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.
+26.9%
Revenue +29.6%/yr
FY21 HK$174M
FY22 HK$241M
FY23 HK$287M
FY24 HK$374M
FY25 HK$492M
Net income
FY21 −HK$41.6M
FY22 −HK$52.5M
FY23 −HK$103M
FY24 −HK$95.4M
FY25 −HK$83.5M

2432 screens 78% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Shenzhen Dobot Corp Fair Value". https://www.fairvalue-calculator.com/stock/2432

Peer Group

Specialty Industrial Machinery · 808 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 37 · Bottom 25%
Fair Value upside −78% · Bottom 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) -17% · Bottom 25%
Operating margin (TTM) -15% · Bottom 25%
Revenue growth 34% · Top 25%

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/B 0.54× · Cheaper than 75% of peers
P/S (TTM) 2.90× · Pricier than median

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 100 · sector 23
PAST 0 · sector 28
HEALTH 100 · sector 96
DIVIDEND 0 · 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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

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1SIE 1SIE €273.20 €91.93 -66%
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Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Shenzhen Dobot Corp (2432) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of HK$5.82 versus a price of HK$26.24, about −78% (overvalued).
What is the fair value of 2432?
Our model-based fair value for Shenzhen Dobot Corp is HK$5.82 (as of Aug 6, 2026), built from audited fundamentals. The current price is HK$26.24.
What is the quality score of 2432?
Shenzhen Dobot Corp has a Quality Score of 32/100. 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 revenue of Shenzhen Dobot Corp (2432)?
Shenzhen Dobot Corp reported trailing-twelve-month revenue of about HK$492M (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 2432?
The net profit margin of Shenzhen Dobot Corp is about -17.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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