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FS.Com Ltd (3355) Fair Value & Analysis

Technology · HK · Market cap HK$14.0B

FC FS.Com Ltd 3355 · HK
PriceHK$39.72
Fair ValueHK$42.60
Upside+7.3%
Quality80/100
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Healthy Growth
Highly profitable · 20.3% net margin
Low debt · generates free cash flow
1.24% dividend yield
Ranks above peers (10/14)
Wide moat 84/100
Evidence: High Range HK$29.03 – HK$55.35 Share as image

Fair value as of: Aug 15, 2026

From 24 valuation models · updated 2 days ago

Fair value updated Aug 15, 2026, revised from HK$42.55 to HK$42.60 (+0.1%) since Aug 6, 2026. Share price +1.9% over the past month.

A strong business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (HK$29.03 to HK$55.35) leaves room in how you read the outcome.
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Price vs Fair Value (5 months)

HK$53.64 HK$29.80 Fair Value HK$42.60 Mar 2026 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Aug 15, 2026.

How to read this chart

5‑month range HK$29.80 – HK$53.64 · fair‑value band HK$29.03 – HK$55.35 · the HK$39.72 price screens below the HK$42.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 15, 2026.

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Analysis

FS.Com Ltd (3355) currently trades at HK$39.72, while our model-based Fair Value estimate is HK$42.60, implying the stock looks roughly 7.3% fairly valued today. The Quality Score stands at 80/100 (high quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, FS.Com Ltd generated revenue of HK$3.0B at a net margin of 20.3%. Revenue grew 20.2% year over year. It earns a return on equity of 26.4%. Net debt stands at HK$40.3M. Fundamentals as of Aug 15, 2026

Our scenario range runs from HK$29.03 (bear case) to HK$55.35 (bull case); at HK$39.72, the current price sits within 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 29% below its 52-week high and 42% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at 7%, 3355 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 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
Growth DCF HK$25.41 HK$45.88 HK$82.07 80
Residual Income HK$10.12 HK$13.87 HK$91.10 76
Rev-Margin DCF HK$19.65 HK$33.44 HK$52.09 74
All 24 models by family
DCF Models
FCF DCF HK$25.87 HK$49.04 HK$91.78 38
Owner Earnings HK$23.02 HK$43.54 HK$81.35 31
5Y Revenue Exit HK$19.65 HK$33.82 HK$53.38 39
5Y EBITDA Exit HK$26.65 HK$48.88 HK$77.68 41
5Y P/E Exit HK$28.99 HK$53.91 HK$83.53 38
10Y Revenue Exit HK$20.93 HK$35.42 HK$58.48 36
10Y EBITDA Exit HK$26.22 HK$46.73 HK$79.68 37
10Y P/E Exit HK$27.80 HK$50.51 HK$84.79 35
Earnings-Based
Graham-Dodd HK$10.08 HK$53.75 HK$74.46 54
Lynch FV HK$14.83 HK$21.19 HK$27.54 50
PEG = 1.0 HK$14.83 HK$21.19 HK$27.54 46
EPV HK$14.07 HK$16.23 HK$18.11 59
Multiples
P/E Multiple HK$31.14 HK$41.51 HK$51.89 63
P/S Multiple HK$18.90 HK$25.20 HK$31.51 58
P/B Multiple HK$18.90 HK$25.20 HK$31.51 55
EV/EBIT HK$32.06 HK$42.36 HK$52.67 53
EV/EBITDA HK$28.69 HK$37.87 HK$47.04 54
EV/Revenue HK$16.78 HK$23.48 HK$30.17 43
Asset-Based
NCAV (Graham) HK$2.66 HK$3.57 HK$5.32 50
Growth DCF
Growth DCF HK$25.41 HK$45.88 HK$82.07 80
Rev-Margin DCF HK$19.65 HK$33.44 HK$52.09 74
Economic Profit
Residual Income HK$10.12 HK$13.87 HK$91.10 76
ROIC Compounder HK$15.96 HK$20.90 HK$27.10 72
Growth Earnings
Growth-Adj P/E HK$25.62 HK$36.61 HK$47.59 68

Widest divergence: DCF Models (HK$46.73) versus Asset-Based (HK$3.57). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$3.0B
Revenue growth (YoY) +20.2%
Net margin 20.3%
Return on equity 26.4%
Free cash flow HK$734M FY2025
P/E ratio 20.0 as of Jul 2, 2026
More key figures
Operating margin 28.3%
Dividend yield 1.2%
EPS growth (YoY) +284%
Net debt HK$40.3M FY2024

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

Quality Score breakdown

Overall quality 80/100

Of which business quality 78 · Market factors (momentum, volatility) 24

Profitability 78
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 85
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 82
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

FS.COM Limited provides DTC networking solutions to computing, data centers, enterprise networks, and telecommunications industry in China and internationally.

Full company description

FS.COM Limited provides DTC networking solutions to computing, data centers, enterprise networks, and telecommunications industry in China and internationally. It offers enterprise, data center, PoE+, small business, and industrial ethernet switches and accessories; bare metal switches and software; router, security, and network packet broker products; optical transceivers; fiber optic cables; fiber optic panels, cassettes, and enclosures; and cable manager products, racks and cabinets, and labels and printers. The company also provides networking products, including wireless, camera and surveillance, servers and storage, power, network adapter, media converter, extender, conferencing, and phone products; and access networks, data center interconnects, PON networks, open line systems, Mux Demux and OADM products, transponders and muxponders, passive components, and transceivers. In addition, it offers copper patch cords, cable trunks, bulk copper cables, patch panels, faceplates and boxes, connectors and jacks, and industrial copper systems; fiber testers, optic tools, and optic cleaners; copper tools and testers; and technical support services. The company was formerly known as Shenzhen Yuxuan Network Technology Co., Ltd. and changed its name to FS.COM Limited in October 2020. The company was incorporated in 2009 and is headquartered in Shenzhen, China.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

FS.Com Ltd reported revenue of HK$3.0B in FY2025 versus HK$2.0B in FY2022, a compound +14.3%/yr. Reported net income was HK$601M in FY2025, compounding +18.2%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$3.0B
Latest YoY
+13.5%
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.
+14.3%
Revenue +14.3%/yr
FY22 HK$2.0B
FY23 HK$2.2B
FY24 HK$2.6B
FY25 HK$3.0B
Net income +18.2%/yr
FY22 HK$365M
FY23 HK$457M
FY24 HK$397M
FY25 HK$601M

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Cite: Fair Value Calculator (2026). "FS.Com Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3355

Peer Group

Communication Equipment · 302 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 80 · Top 25%
Fair Value upside +7% · Top 25%
Return on equity (TTM) 26% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 28% · Top 25%
Revenue growth 20% · Above median
Dividend yield (TTM) 1.2% · Above median
Debt / equity 0.15× · Higher than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 20.0× · Cheaper than median
P/B 6.50× · Pricier than 75% of peers
P/S (TTM) 4.73× · Pricier than 75% of peers
P/FCF 2.4× · Cheaper than median
EV/EBITDA 17.3× · 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 43 · sector 0
FUTURE 100 · sector 34
PAST 100 · sector 15
HEALTH 92 · sector 98
DIVIDEND 25 · sector 24

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 Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 15, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $120.43 $61.53 -49%
Zhongji Innolight Co 300308 ¥921.00 ¥171.09 -81%
Foxconn Industrial Internet Co 601138 ¥65.60 ¥28.65 -56%
Eoptolink Technology Inc 300502 ¥429.90 ¥176.99 -59%
Nokia Oyj NOK $10.32 $3.77 -63%
Motorola Solutions, Inc MSI $469.74 $236.33 -50%
Suzhou TFC Optical Communication Co 300394 ¥240.05 ¥43.67 -82%
Accton Technology Corporation 2345 2,270 TWD 1,135 TWD -50%
Telefonaktiebolaget LM Ericsson (publ), ERICB kr 97.78 kr 157.82 +61%
ZTE Corporation 000063 ¥35.59 ¥19.72 -45%

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Frequently asked questions

Is FS.Com Ltd (3355) overvalued or undervalued?
As of Aug 15, 2026, our model estimates a fair value of HK$42.60 versus a price of HK$39.72, about +7% (fairly valued).
What is the fair value of 3355?
Our model-based fair value for FS.Com Ltd is HK$42.60 (as of Aug 15, 2026), built from audited fundamentals. The current price is HK$39.72.
What is the quality score of 3355?
FS.Com Ltd has a Quality Score of 80/100. 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 FS.Com Ltd (3355)?
FS.Com Ltd reported trailing-twelve-month revenue of about HK$3.0B (latest available figure, as of Aug 15, 2026).
What is the net profit margin of 3355?
The net profit margin of FS.Com Ltd is about 20.3%, meaning it keeps roughly 20.3% of revenue as net income. Based on the latest reported figures.
Does FS.Com Ltd pay a dividend?
FS.Com Ltd currently shows a dividend yield of about 1.24% relative to its recent price (as of Aug 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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