Hangzhou Cable (603618) fair value: what the stock is really worth
As of Sep 28, 2026: fair value of Hangzhou Cable ¥3.42, price ¥33.29, upside -89.7%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Weakest SetupStrongly overvalued and low quality.
!Fair value ¥3.42 · Strongly overvalued (−89.7%)
!Quality 43/100
!Expensive Growth(revenue 5y +9.7 %/yr)
!Thin margins · 0.6% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers(3/13)
!Narrow moat30/100
!Evidence only low, so the estimate is less certain
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range ¥3.75 – ¥57.19 · fair‑value band ¥2.00 – ¥3.80 · the ¥33.29 price screens above the ¥3.42 fair value. Dashed = 300-day average. As of Sep 29, 2026.
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Hangzhou Cable Co., Ltd. engages in the research, design, development, manufacture, and sale of wires, cables, and optical fiber cables in China and internationally.
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Hangzhou Cable Co., Ltd. engages in the research, design, development, manufacture, and sale of wires, cables, and optical fiber cables in China and internationally. The company offers ultra-high voltage, power, overhead power lines, mining, wind power, rail transit, control, mineral insulated, rubber sheathed, and fireproof cables, as well as aluminum alloy, overhead, and plastic wires. It also provides steel core aluminum stranded wires, aluminum alloy conductors, aluminum-clad steel conductors, and other products. Hangzhou Cable Co., Ltd. was founded in 1958 and is headquartered in Hangzhou, China.
Stock analysis
Hangzhou Cable (603618) currently trades at ¥33.29, while our model-based Fair Value estimate is ¥3.42, implying the stock looks roughly 873.7% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥6.32 per share, and 0 of the 8 models we run sit above the ¥33.29 price.
Bear case: the Asset-Based group reads lowest at ¥2.63, and 8 of the 8 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥2.00 (bear) to ¥3.80 (bull), the price of ¥33.29 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 43/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Hangzhou Cable reported revenue of 9.5B CNY in FY2025 versus 7.4B CNY in FY2021, a compound +6.2%/yr. Reported net income was −299M CNY in FY2025.
Key figures
Market cap 23.0B CNY (≈ $3.4B) · P/E ratio 369.9 · P/S ratio 2.30 · EPS (TTM) ¥0.0900 · Dividend yield 0.7% · Net margin −3.2% · Return on equity 1.9% · Return on assets (EBIT) 1.8%.
What moves the price
The share trades about 42% below its 52-week high and 334% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −38% fair-value upside, at −90%, 603618 screens richer than that median.
Fair Value models
Bear ¥2.00Fair Value ¥3.42Bull ¥3.80
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.0671 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.Evidence ⓘEvidence = 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.
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.48/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+6.8%
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.
+5.1%
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.
+9.7%
Start year 2020 (pandemic). Over 10 years: +11.7% a year
Revenue growth 14 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.
+11.6%
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Profit margin (trend) ⓘ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.
2.8% (2019) → 2.0% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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.Electrical Equipment & Parts · 547 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside−89.7% · Bottom 25%
Profitability
Return on equity (TTM)1.9% · Below median
Return on assets2.7% · Above median
Net margin (TTM)0.6% · Bottom 25%
Operating margin (TTM)14.3% · Top 25%
Growth and dividend
Revenue growth13.9% · Above median
Dividend yield (TTM)0.7% · Below median
Balance sheet
Debt / equity0.31× · Highest 25%
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
P/E (TTM)369.9× · Priciest 25%
P/B8.48× · Priciest 25%
P/S (TTM)2.30× · Pricier than median
EV/EBITDA36.1× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)70· sector 57
PAST (return on equity)8· sector 25
HEALTH (low debt)85· sector 97
DIVIDEND (yield)14· sector 23
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). "Hangzhou Cable Fair Value". https://www.fairvalue-calculator.com/stock/603618
Frequently asked questions
Is Hangzhou Cable (603618) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of ¥3.42 versus a price of ¥33.29, about −90% upside (overvalued).
What is the fair value of 603618?
Our model-based fair value for Hangzhou Cable is ¥3.42 (as of Sep 29, 2026), built from audited fundamentals. The current price: ¥33.29.
What is the quality score of 603618?
Hangzhou Cable has a Quality Score of 43/100. 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 Hangzhou Cable (603618)?
Our model-based price target is the fair value of ¥3.42 (as of Sep 29, 2026) from 8 valuation models. Cautious scenario ¥2.00, optimistic scenario ¥3.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Hangzhou Cable stock forecast for 2026?
Our models put fair value at ¥3.42, about −90% upside versus a price of ¥33.29 (overvalued). Cautious scenario ¥2.00, optimistic scenario ¥3.80. The calculation is refreshed regularly with new filings.
What is the revenue of Hangzhou Cable (603618)?
Hangzhou Cable reported trailing-twelve-month revenue of about 10.0B CNY (latest available figure, as of Sep 29, 2026).
Does Hangzhou Cable pay a dividend?
Hangzhou Cable currently shows a dividend yield of about 0.69% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of Hangzhou Cable (603618)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hangzhou Cable it is ¥3.42 per share (as of Sep 29, 2026), against a price of ¥33.29. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Hangzhou Cable stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 603618 trades above its calculated fair value: price ¥33.29, fair value ¥3.42, a gap of about −90% (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 603618?
No. The price is what the market pays today (¥33.29); the fair value is what the company's own numbers justify (¥3.42). For Hangzhou Cable the two are ¥29.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hangzhou Cable worth?
The market values Hangzhou Cable at about 23.0B CNY (market capitalisation, as of Sep 29, 2026). Per share that is ¥33.29; our models calculate a fair value of ¥3.42 per share.
What do the bullish and bearish scenarios say about 603618?
Our models span a range for Hangzhou Cable: cautious scenario ¥2.00, base ¥3.42, optimistic ¥3.80 per share (as of Sep 29, 2026, price ¥33.29). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603618?
Hangzhou Cable trades at a price-to-earnings ratio of 369.9 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥3.42 is built from several models across several years. Other multiples: P/B 8.5, P/S 2.3, EV/EBITDA 36.1.
How solid is the balance sheet of Hangzhou Cable (603618)?
Balance-sheet figures for Hangzhou Cable (as of Sep 29, 2026): return on equity 1.9%, debt of 0.31 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 603618 from its 52-week high?
Hangzhou Cable trades at ¥33.29, about 42% below its 52-week high of ¥57.19 and 334% above the low of ¥7.67 (as of Sep 28, 2026). Distance from the high says nothing about value: that is what the fair value of ¥3.42 is for.
Which stocks are comparable to Hangzhou Cable?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Delta Electronics (Thailand) Public Company, Vertiv Holdings, 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 Hangzhou Cable stock attractive at the current price?
The data as of Sep 29, 2026: price ¥33.29, calculated fair value ¥3.42 (−90%), Quality Score 43/100, from 8 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 603618 calculated?
We run Hangzhou Cable through 8 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥3.42, 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 15.9 % above its aggregate fair value. Hangzhou Cable 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 Hangzhou Cable (603618)?
The closing price on Sep 28, 2026 was ¥33.29. Our model-based fair value is ¥3.42, about −90% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hangzhou Cable right now?
The price sits above even our optimistic bull case (¥3.80). The favourable scenario is already priced in. Weak quality (43/100) 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 (¥2.00 to ¥3.80) leaves room in how you read the outcome.
Where does the earnings growth of Hangzhou Cable (603618) come from?
Earnings per share at Hangzhou Cable grew −0.9 % a year from 2013 to 2024. Broken into its drivers: revenue per share +9.7 %, EBIT margin −9.3 %, tax rate −0.2 %, residual (interest, one-offs) −0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Hangzhou Cable
How large is the market capitalisation of Hangzhou Cable (603618)?
The market capitalisation of Hangzhou Cable is 23.0B CNY (≈ $3.4B). 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 Hangzhou Cable (603618)?
The price-to-sales ratio of Hangzhou Cable is 2.30 (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 Hangzhou Cable (603618)?
Earnings per share at Hangzhou Cable are ¥0.0900 (price ÷ EPS = P/E 369.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hangzhou Cable (603618)?
The dividend yield of Hangzhou Cable is 0.7%. 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 Hangzhou Cable (603618)?
The net margin of Hangzhou Cable is −3.2% (fiscal year 2025). 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 Hangzhou Cable (603618)?
The return on equity (ROE) of Hangzhou Cable is 1.9% (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 Hangzhou Cable (603618)?
On an EBIT basis the return on assets of Hangzhou Cable is 1.8% (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 Hangzhou Cable (603618)?
The operating margin of Hangzhou Cable is 14.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hangzhou Cable (603618)?
Revenue at Hangzhou Cable is growing +13.9% versus a year earlier (3y avg +5.1%). 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 Hangzhou Cable (603618)?
Earnings per share at Hangzhou Cable are growing +20.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hangzhou Cable (603618) generate?
The free cash flow of Hangzhou Cable is −152M 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 Hangzhou Cable (603618) carry?
The net debt of Hangzhou Cable is 3.6B 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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