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Haier Smart Home Co (6690) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$185B

HS Haier Smart Home Co 6690 · HK
PriceHK$21.20
Fair ValueHK$46.41
Upside+118.9%
Quality62/100
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Healthy Growth
Thin margins · 6.3% net margin
Low debt · generates free cash flow
5.79% dividend yield
Ranks above peers (11/15)
Moderate moat 47/100
Evidence: High Range HK$34.30 – HK$61.90 Share as image

Fair value as of: Jul 7, 2026

From 26 valuation models · updated 34 days ago

Fair value updated Jul 7, 2026, revised from HK$47.00 to HK$46.41 (−1.3%) since Jul 2, 2026. Share price +5.3% over the past month.

A solid business, screening 119% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$34.30). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$34.30 to HK$61.90) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$33.71 HK$17.42 Fair Value HK$46.41 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 7, 2026.

How to read this chart

60‑month range HK$17.42 – HK$33.71 · fair‑value band HK$34.30 – HK$61.90 · the HK$21.20 price screens below the HK$46.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 7, 2026.

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Analysis

Haier Smart Home Co (6690) currently trades at HK$21.20, while our model-based Fair Value estimate is HK$46.41, implying the stock looks roughly 118.9% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical 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, Haier Smart Home Co generated revenue of HK$297B at a net margin of 6.3%. Revenue declined 6.9% year over year. It earns a return on equity of 14.9%. Net debt stands at HK$18.9B. Fundamentals as of Jul 7, 2026

Our scenario range runs from HK$34.30 (bear case) to HK$61.90 (bull case); at HK$21.20, the current price sits below 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 25% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at 119%, 6690 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$28.75 HK$49.96 HK$87.43 80
Residual Income HK$13.88 HK$17.50 HK$42.90 76
Rev-Margin DCF HK$27.76 HK$47.45 HK$74.06 74
All 26 models by family
DCF Models
FCF DCF HK$29.22 HK$53.24 HK$97.44 38
Owner Earnings HK$32.37 HK$59.33 HK$108.96 31
5Y Revenue Exit HK$27.76 HK$48.19 HK$76.76 39
5Y EBITDA Exit HK$31.90 HK$57.09 HK$89.78 41
5Y P/E Exit HK$34.18 HK$61.99 HK$95.06 38
10Y Revenue Exit HK$27.21 HK$47.17 HK$79.58 36
10Y EBITDA Exit HK$30.85 HK$53.86 HK$90.94 37
10Y P/E Exit HK$32.39 HK$57.53 HK$95.55 35
Earnings-Based
Graham-Dodd HK$14.42 HK$76.70 HK$106.22 54
Lynch FV HK$21.15 HK$30.21 HK$39.27 50
PEG = 1.0 HK$21.15 HK$30.21 HK$39.27 46
EPV HK$24.65 HK$28.16 HK$31.24 59
Dividend Discount
Gordon GGM HK$11.14 HK$23.15 HK$36.73 70
DDM Multi-Stage HK$11.14 HK$19.52 HK$24.30 61
Multiples
P/E Multiple HK$34.98 HK$46.64 HK$58.30 63
P/S Multiple HK$27.03 HK$36.04 HK$45.05 58
P/B Multiple HK$27.03 HK$36.04 HK$45.05 55
EV/EBIT HK$38.30 HK$49.88 HK$61.46 53
EV/EBITDA HK$35.04 HK$45.53 HK$56.02 54
EV/Revenue HK$26.98 HK$37.02 HK$47.05 43
Asset-Based
NCAV (Graham) HK$6.44 HK$8.63 HK$12.88 50
Growth DCF
Growth DCF HK$28.75 HK$49.96 HK$87.43 80
Rev-Margin DCF HK$27.76 HK$47.45 HK$74.06 74
Economic Profit
Residual Income HK$13.88 HK$17.50 HK$42.90 76
ROIC Compounder HK$28.11 HK$37.09 HK$48.83 72
Growth Earnings
Growth-Adj P/E HK$32.01 HK$45.72 HK$59.44 68

Widest divergence: DCF Models (HK$53.86) versus Asset-Based (HK$8.63). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$297B
Revenue growth (YoY) -6.9%
Net margin 6.3%
Return on equity 14.9%
Free cash flow HK$17.3B FY2025
P/E ratio 8.8
More key figures
Operating margin 8.3%
EPS (TTM) HK$2.53
Dividend yield 5.8%
EPS growth (YoY) -15.3%
Net debt HK$18.9B FY2025

Figures from reported company fundamentals · as of Jul 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 60 · Market factors (momentum, volatility) 40

Profitability 54
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 93
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

Haier Smart Home Co., Ltd. engages in the research, development, production, and sales of smart home appliances. It operates through five segments: Home Cooking Solutions; Air Energy Solutions; Household Laundry and Care of Washing Machines and Dyers; Whole-Home Water Solutions; and Other Businesses.

Full company description

Haier Smart Home Co., Ltd. engages in the research, development, production, and sales of smart home appliances. It operates through five segments: Home Cooking Solutions; Air Energy Solutions; Household Laundry and Care of Washing Machines and Dyers; Whole-Home Water Solutions; and Other Businesses. The company provides refrigerators/freezers, air conditioners, water heaters, laundry equipment, kitchen and small appliances, and smart home solutions. It also offers logistics services, fluorine-free refrigerators, dishwashers and gas stoves, communications and network engineering technologies, and industrial product design and prototype production services; manufacture and sale of plastic parts, precise plastics, plastic powder and sheet, and coatings; assembly and sales of plastics and electronics products; wholesale and retail of medical equipment; and develops and sells software and information product. In addition, the company engages in the sale of digital products, international freight forwarding; software development; technological development; IoT technology and application services; scientific research and technical service; and residential interior decoration, professional construction works, and equipment installation. Further, it offers urban distribution and transportation services; import and export of goods, technology, and food business; professional cleaning; waste treatment; professional cleaning and daily necessities; and energy saving technology. Additionally, the company is involved in house leasing and maintenance; venture capital investment and consultation; smart bathroom; air-conditioning equipment manufacturing; software development; research, development, and sales of lighting appliances; and lease and commercial business services. The company was formerly known as Qingdao Haier Co., Ltd. and changed its name to Haier Smart Home Co., Ltd. in June 2019. Haier Smart Home Co., Ltd. was founded in 1984 and is headquartered in Qingdao, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Haier Smart Home Co reported revenue of HK$302B in FY2025 versus HK$228B in FY2021, a compound +7.4%/yr. Reported net income was HK$19.6B in FY2025, compounding +10.6%/yr from FY2021.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$302B
Latest YoY
+5.7%
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.
+7.5%
Avg. growth/yr (5Y) ⓘ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.
+7.6%
Avg. growth/yr (35Y) ⓘ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.
+19.8%
Revenue +7.4%/yr
FY21 HK$228B
FY22 HK$244B
FY23 HK$261B
FY24 HK$286B
FY25 HK$302B
Net income +10.6%/yr
FY21 HK$13.1B
FY22 HK$14.7B
FY23 HK$16.6B
FY24 HK$18.7B
FY25 HK$19.6B
Character of growth · EPS growth decomposed (2014-2025) +10.5 % p.a.
Revenue per share +7.0 pp

of which total revenue +12.4 pp · buybacks/dilution −5.4 pp

EBIT margin +1.0 pp
Tax rate +0.9 pp
Residual (interest, one-offs) +1.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Haier Smart Home Co · Fair Value
HK$46.41 +119%Fair Value
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Cite: Fair Value Calculator (2026). "Haier Smart Home Co Fair Value". https://www.fairvalue-calculator.com/stock/6690

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Furnishings, Fixtures & Appliances · 311 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 62 · Top 25%
Fair Value upside +119% · Top 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth -7% · Below median
Dividend yield (TTM) 5.8% · Top 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/E (TTM) 8.8× · Cheaper than 75% of peers
P/B 1.56× · Pricier than median
P/S (TTM) 0.62× · Cheaper than median
P/FCF 1.4× · Cheaper than median
EV/EBITDA 5.9× · Cheaper than median
PEG 1.63× · 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 100 · sector 22
FUTURE 0 · sector 0
PAST 59 · sector 19
HEALTH 94 · sector 97
DIVIDEND 100 · sector 55

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Jul 7, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.71 ¥107.22 +30%
Gree Electric Appliances, Inc 000651 ¥38.25 ¥88.02 +130%
King Slide Works Co 2059 8,655 TWD 1,917 TWD -78%
Guangdong Songfa Ceramics Co 603268 ¥155.59 ¥38.95 -75%
SharkNinja, Inc SN $154.53 $89.07 -42%
Hisense Home Appliances Group 000921 ¥26.33 ¥48.03 +82%
Zhejiang Supor Co 002032 ¥43.85 ¥44.84 +2%
COWAY Co 021240 96,700 KRW 112,530 KRW +16%
Ecovacs Robotics Co 603486 ¥50.13 ¥54.11 +8%
Voltas Limited VOLTAS ₹1,350 ₹185.71 -86%

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Frequently asked questions

Is Haier Smart Home Co (6690) overvalued or undervalued?
As of Jul 7, 2026, our model estimates a fair value of HK$46.41 versus a price of HK$21.20, about +119% (undervalued).
What is the fair value of 6690?
Our model-based fair value for Haier Smart Home Co is HK$46.41 (as of Jul 7, 2026), built from audited fundamentals. The current price is HK$21.20.
What is the quality score of 6690?
Haier Smart Home Co has a Quality Score of 62/100. 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 Haier Smart Home Co (6690)?
Haier Smart Home Co reported trailing-twelve-month revenue of about HK$297B (latest available figure, as of Jul 7, 2026).
What is the net profit margin of 6690?
The net profit margin of Haier Smart Home Co is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Haier Smart Home Co pay a dividend?
Haier Smart Home Co currently shows a dividend yield of about 5.79% relative to its recent price (as of Jul 7, 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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