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JST Group Corp Ltd (6687) fair value: what the stock is really worth

As of Sep 30, 2026: fair value of JST Group Corp Ltd HK$21.94, price HK$12.54, upside +75.0%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Technology · HK

JG Thin data Sep 27, 2026

JST Group Corp Ltd

6687 · HK

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value HK$21.94 · Strongly undervalued (+75.0%)
✓Quality 61/100
!Mixed Growth (revenue YoY +25.6 %/yr)
!Loss-making · -144.9% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers (9/11)
!Narrow moat 25/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$37.90 HK$12.26 Fair Value HK$21.94 Oct 2025 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 27, 2026.

How to read this chart

11‑month range HK$12.26 – HK$37.90 · fair‑value band HK$17.05 – HK$23.47 · the HK$12.54 price screens below the HK$21.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 27, 2026.

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Company profile

JST Group Corporation Limited, together with its subsidiaries, provides e-commerce Software as a Service (SaaS) in China.

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JST Group Corporation Limited, together with its subsidiaries, provides e-commerce Software as a Service (SaaS) in China. The company offers Jushuitan SaaS ERP, such as order management system, warehouse management system, supply chain management, and distribution management; Shengtu, a cross-border e-commerce financial management system; and e-commerce after-sales work order system. It also provides Juhuotong, a digital supply and procurement collaboration platform; data intelligence solutions, including business analysis, risk warning, and team collaboration; Jushengsuan for business analysis; e-commerce accounting systems; and Juhe Account for financial compliance. In addition, the company offers scenario solutions comprising cross-border e-commerce, third-party cloud warehouse, live and brand e-commerce, and omnichannel distribution. JST Group Corporation Limited was founded in 2014 and is headquartered in Shanghai, China.

Stock analysis

JST Group Corp Ltd (6687) currently trades at HK$12.54, while our model-based Fair Value estimate is HK$21.94, implying the stock looks roughly 42.8% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of HK$22.54 per share, and 7 of the 13 models we run sit above the HK$12.54 price.

Bear case: the Asset-Based group reads lowest at HK$2.26, and 6 of the 13 models stay below the price. Evidence for this calculation is low.

Scenario range: HK$17.05 (bear) to HK$23.47 (bull), the price of HK$12.54 sits below 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 61/100 (solid quality), in the Technology sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

JST Group Corp Ltd reported revenue of 1.1B CNY in FY2025 versus 697M CNY in FY2023, a compound +28.0%/yr. Reported net income was −1.7B CNY in FY2025.

Key figures

Market cap HK$5.5B (≈ $697M) · P/S ratio 4.99 · EPS (TTM) HK$−23.09 · Net margin −145% · Return on assets (EBIT) −5.1% · Operating margin 10.4% · Revenue (TTM) 1.1B CNY · Revenue growth (YoY) +26.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 67% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 75%, 6687 screens cheaper than that median.

Fair Value models

Bear HK$17.05 Fair Value HK$21.94 Bull HK$23.47
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. 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.
Highest evidence
FCF DCF HK$23.57 HK$30.53 HK$51.35 72
EPV HK$9.32 HK$9.44 HK$9.54 71
Growth DCF HK$22.61 HK$31.97 HK$49.19 71
All 13 models by family
DCF Models
FCF DCF HK$23.57 HK$30.53 HK$51.35 72
5Y Revenue Exit HK$14.24 HK$16.07 HK$19.70 67
5Y EBITDA Exit HK$14.96 HK$17.53 HK$22.46 70
10Y Revenue Exit HK$17.37 HK$22.54 HK$24.16 62
10Y EBITDA Exit HK$17.90 HK$23.95 HK$32.78 63
Earnings-Based
EPV HK$9.32 HK$9.44 HK$9.54 71
Multiples
EV/EBIT HK$10.98 HK$11.83 HK$12.69 66
EV/EBITDA HK$10.85 HK$11.66 HK$12.47 67
EV/Revenue HK$9.71 HK$10.27 HK$10.82 54
Asset-Based
NCAV (Graham) HK$1.69 HK$2.26 HK$3.38 54
Growth DCF
Growth DCF HK$22.61 HK$31.97 HK$49.19 71
Rev-Margin DCF HK$14.33 HK$17.20 HK$22.63 67
Economic Profit
ROIC Compounder HK$9.32 HK$9.44 HK$9.54 66

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Quality Score breakdown

Overall quality 61/100

Of which business quality 62 · Market factors (momentum, volatility) 9

Profitability 9
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 56
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−16.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+15.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about −17.6% a year for the price and +14.0% for the forecasts.
Forecast 2026 (sales)+21.3%
Forecast 2027 (sales)+17.5%
Projected 2028 (sales)+15.6%
Projected 2029 (sales)+13.6%
Projected 2030 (sales)+11.7%

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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.Software - Application · 696 stocks

Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 61 · Above median
Fair Value upside +75.0% · Top 25%
Profitability
Return on assets 1.7% · Above median
Net margin (TTM) −144.9% · Bottom 25%
Operating margin (TTM) 10.4% · Above median
Growth and dividend
Revenue growth 26.6% · Top 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 0.57× · Cheapest 25%
P/S (TTM) 0.61× · Cheapest 25%
P/FCF 1.7× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 27
FUTURE (revenue growth)100 · sector 39
PAST (return on equity)0 · sector 16
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 30

Context: sector, industry, market

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €185.92 €172.46 −7%
Salesforce, Inc CRM $234.02 $342.73 +46%
Shopify Inc SHOP $144.01 $64.36 −55%
ServiceNow, Inc NOW $135.62 $149.18 +10%
Uber Technologies, Inc UBER $69.36 $103.69 +49%
Snowflake Inc SNOW $330.31 $74.36 −77%
Automatic Data Processing, Inc ADP $261.80 $150.01 −43%
Adobe Inc ADBE $235.47 $454.04 +93%
Datadog, Inc DDOG $268.70 $32.52 −88%
Cadence Design Systems, Inc CDNS $326.70 $225.48 −31%

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JST Group Corp Ltd · Fair Value
HK$21.94 +43%Fair Value
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Cite: Fair Value Calculator (2026). "JST Group Corp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6687

Frequently asked questions

Is JST Group Corp Ltd (6687) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$21.94 versus a price of HK$12.54, about +75% upside (undervalued).
What is the fair value of 6687?
Our model-based fair value for JST Group Corp Ltd is HK$21.94 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$12.54.
What is the quality score of 6687?
JST Group Corp Ltd has a Quality Score of 61/100. 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 JST Group Corp Ltd (6687)?
Our model-based price target is the fair value of HK$21.94 (as of Sep 27, 2026) from 13 valuation models. Cautious scenario HK$17.05, optimistic scenario HK$23.47. It is a calculation from audited fundamentals, not an analyst target.
What is the JST Group Corp Ltd stock forecast for 2026?
Our models put fair value at HK$21.94, about +75% upside versus a price of HK$12.54 (undervalued). Cautious scenario HK$17.05, optimistic scenario HK$23.47. The calculation is refreshed regularly with new filings.
What is the revenue of JST Group Corp Ltd (6687)?
JST Group Corp Ltd reported trailing-twelve-month revenue of about 1.1B CNY (latest available figure, as of Sep 27, 2026).
What growth is priced into JST Group Corp Ltd (6687)?
For today's price to be fair in a discounted-cash-flow model, JST Group Corp Ltd would have to grow free cash flow by -16.2 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 2 years revenue grew +28.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 6687 use?
Our models discount JST Group Corp Ltd at 11.8 %: a base by market capitalisation (small), country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For JST Group Corp Ltd that is -16.2 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has JST Group Corp Ltd (6687) delivered so far?
Over the past 2 years revenue at JST Group Corp Ltd grew +28.0 % a year. The price currently implies -16.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of JST Group Corp Ltd (6687) growing?
The median revenue growth in the sector is +11.9 % a year. That is the yardstick for the growth priced into JST Group Corp Ltd (-16.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of JST Group Corp Ltd (6687)?
The free-cash-flow yield on the price is 8.62 %: that much free cash flow JST Group Corp Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of JST Group Corp Ltd (6687)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JST Group Corp Ltd it is HK$21.94 per share (as of Sep 27, 2026), against a price of HK$12.54. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is JST Group Corp Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 6687 trades below its calculated fair value: price HK$12.54, fair value HK$21.94, a gap of about +75% (undervalued). 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 6687?
No. The price is what the market pays today (HK$12.54); the fair value is what the company's own numbers justify (HK$21.94). For JST Group Corp Ltd the two are HK$9.40 per share apart. That gap is exactly why we show both numbers side by side.
How much is JST Group Corp Ltd worth?
The market values JST Group Corp Ltd at about HK$5.5B (market capitalisation, as of Sep 27, 2026). Per share that is HK$12.54; our models calculate a fair value of HK$21.94 per share.
What do the bullish and bearish scenarios say about 6687?
Our models span a range for JST Group Corp Ltd: cautious scenario HK$17.05, base HK$21.94, optimistic HK$23.47 per share (as of Sep 27, 2026, price HK$12.54). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 6687 from its 52-week high?
JST Group Corp Ltd trades at HK$12.54, about 67% below its 52-week high of HK$37.90 and 2% above the low of HK$12.26 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$21.94 is for.
Which stocks are comparable to JST Group Corp Ltd?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 JST Group Corp Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$12.54, calculated fair value HK$21.94 (+75%), Quality Score 61/100, from 13 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 6687 calculated?
We run JST Group Corp Ltd through 13 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 HK$21.94, 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 14.7 % above its aggregate fair value. JST Group Corp Ltd currently trades 43 % below its own fair value, and the market average says nothing about that. 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 JST Group Corp Ltd (6687)?
The closing price on Sep 30, 2026 was HK$12.54. Our model-based fair value is HK$21.94, about +75% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JST Group Corp Ltd right now?
The price is below even our cautious bear case (HK$17.05). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of JST Group Corp Ltd

How large is the market capitalisation of JST Group Corp Ltd (6687)?
The market capitalisation of JST Group Corp Ltd is HK$5.5B (≈ $697M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of JST Group Corp Ltd (6687)?
The price-to-sales ratio of JST Group Corp Ltd is 4.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of JST Group Corp Ltd (6687)?
Earnings per share at JST Group Corp Ltd are HK$−23.09. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of JST Group Corp Ltd (6687)?
The net margin of JST Group Corp Ltd is −145% (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 EBIT return on assets of JST Group Corp Ltd (6687)?
On an EBIT basis the return on assets of JST Group Corp Ltd is −5.1% (avg 3y). 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 JST Group Corp Ltd (6687)?
The operating margin of JST Group Corp Ltd is 10.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JST Group Corp Ltd (6687)?
Revenue at JST Group Corp Ltd is growing +26.6% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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