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Fujian Forecam Optics Co Ltd (688010) fair value: what the stock is really worth

We calculate from audited financials what Fujian Forecam Optics Co Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Consumer Cyclical · CN · ISIN CNE100003MV0

FF Some data Sep 13, 2026

Fujian Forecam Optics Co Ltd

688010 · SHG

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value ¥13.48 · Strongly overvalued (−47%)
!Quality 51/100
!Weak Growth (revenue 5y +2.8 %/yr)
!Thin margins · 2.2% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (0/12)
!Narrow moat 18/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 3 out of 100
!Weak on dividend: 7 out of 100
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What runs behind every stock

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

Price vs Fair Value

¥50.47 ¥12.95 Fair Value ¥13.48 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range ¥12.95 – ¥50.47 · fair‑value band ¥9.39 – ¥18.24 · the ¥25.37 price screens above the ¥13.48 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Fujian Forecam Optics Co., Ltd. researches, manufactures, and sells special and civilian optical lenses in the People's Republic of China.

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Fujian Forecam Optics Co., Ltd. researches, manufactures, and sells special and civilian optical lenses in the People's Republic of China. It offers surveillance series lens products, including vari-focal, fixed focal, fisheye, and block zoom lenses; automotive lens, which is used in intelligent driving assistance system, fatigue monitoring, driving record, and other applications; infrared optics; machine vision lenses; special lenses, which are used in aerospace and other technologies; and precision optics including glass spherical lenses, glass aspherical lenses, glass prisms, plastic aspherical lenses, plastic structural parts. The company was founded in 1958 and is headquartered in Fuzhou, China.

Stock analysis

Fujian Forecam Optics Co Ltd (688010) currently trades at ¥25.37, while our model-based Fair Value estimate is ¥13.48, implying the stock looks roughly 88.2% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of ¥7.27 per share, and 0 of the 12 models we run sit above the ¥25.37 price.

Bear case: the Growth Earnings group reads lowest at ¥1.41, and 12 of the 12 models stay below the price. Evidence for this calculation is medium.

Scenario range: ¥9.39 (bear) to ¥18.24 (bull), the price of ¥25.37 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 51/100 (solid quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Fujian Forecam Optics Co Ltd reported revenue of 675M CNY in FY2025 versus 675M CNY in FY2021, a compound +0.0%/yr. Reported net income was 12.7M CNY in FY2025, compounding −27.1%/yr from FY2021.

Key figures

Market cap 4.0B CNY (≈ $600M) · P/E ratio 253.7 · P/S ratio 4.77 · EPS (TTM) ¥0.1000 · Dividend yield 0.4% · Net margin 1.9% · Return on equity 0.7% · Return on assets (EBIT) −0.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 47% below its 52-week high, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −47%, 688010 screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (¥0.3100 to ¥7.39). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥9.39 Fair Value ¥13.48 Bull ¥18.24
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 8 months old). Earnings retained since then (¥0.0704 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. 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
Owner Earnings ¥5.23 ¥7.27 ¥10.05 77
Residual Income ¥7.25 ¥6.76 ¥4.70 76
Gordon GGM ¥1.36 ¥2.27 ¥3.31 67
All 12 models by family
DCF Models
Owner Earnings ¥5.23 ¥7.27 ¥10.05 77
Earnings-Based
Graham-Dodd ¥0.5400 ¥1.26 ¥1.62 65
PEG = 1.0 ¥0.2200 ¥0.3100 ¥0.4000 57
Dividend Discount
Gordon GGM ¥1.36 ¥2.27 ¥3.31 67
DDM Multi-Stage ¥1.36 ¥1.99 ¥2.65 67
Multiples
P/E Multiple ¥1.30 ¥1.74 ¥2.17 63
P/S Multiple ¥1.01 ¥1.34 ¥1.68 58
P/B Multiple ¥1.01 ¥1.34 ¥1.68 55
EV/EBITDA ¥5.62 ¥7.39 ¥9.15 67
Asset-Based
NCAV (Graham) ¥5.40 ¥7.23 ¥10.79 54
Economic Profit
Residual Income ¥7.25 ¥6.76 ¥4.70 76
Growth Earnings
Growth-Adj P/E ¥0.9800 ¥1.41 ¥1.83 67

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Quality Score breakdown

Overall quality 51/100

Of which business quality 49 · Market factors (momentum, volatility) 21

Profitability 23
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 78
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. 32/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.7%
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.
−4.7%
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.
+2.8%
Revenue growth 9 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.
+4.1%
What shareholders gained per year (last 5 years) What the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−23.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.0%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−24% vs −18%, slowing
Profit margin 2020 to 2025 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.10% → −2%
⚠ Revenue per share shrinking 2.1%/yr over ~7Y (margins eroding too) Structural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

688010 screens 88% overvalued. Compare with ANTA Sports Products Limited →

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Peer GroupHow 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.Leisure · 192 stocks

Beats the industry median on 0/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 50 · Below median
Profitability
Return on equity (TTM) 1% · Below median
Return on assets −2% · Bottom 25%
Net margin (TTM) 2% · Below median
Operating margin (TTM) −20% · Bottom 25%
Growth and dividend
Revenue growth −4% · Below median
Dividend yield (TTM) 0.4% · Bottom 25%
Balance sheet
Debt / equity 0.12× · Above median

Valuation Multiplesvs Leisure median · lower = cheaper

P/E (TTM) 253.7× · Priciest 25%
P/B 2.50× · Pricier than median
P/S (TTM) 6.45× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)0 · sector 15
PAST (return on equity)3 · sector 19
HEALTH (low debt)94 · sector 94
DIVIDEND (yield)7 · sector 56

VALUE 0: the price sits above our fair-value range.

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

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Li Ning Company 82331 HK$11.14 HK$12.25 +10%
Acushnet Holdings GOLF $85.16 $36.89 −57%
Ninebot Limited 689009 ¥37.15 ¥111.10 +199%
Benefit Systems S.A BFT 5,100 PLN 5,610 PLN +10%
Mattel, Inc MAT $14.01 $18.93 +35%

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Cite: Fair Value Calculator (2026). "Fujian Forecam Optics Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/688010

Frequently asked questions

Is Fujian Forecam Optics Co Ltd (688010) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of ¥13.48 versus a price of ¥25.37, about −47% upside (overvalued).
What is the fair value of 688010?
Our model-based fair value for Fujian Forecam Optics Co Ltd is ¥13.48 (as of Sep 13, 2026), built from audited fundamentals. The current price: ¥25.37.
What is the quality score of 688010?
Fujian Forecam Optics Co Ltd has a Quality Score of 51/100. 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 Fujian Forecam Optics Co Ltd (688010)?
Our model-based price target is the fair value of ¥13.48 (as of Sep 13, 2026) from 12 valuation models. Cautious scenario ¥9.39, optimistic scenario ¥18.24. It is a calculation from audited fundamentals, not an analyst target.
What is the Fujian Forecam Optics Co Ltd stock forecast for 2026?
Our models put fair value at ¥13.48, about −47% upside versus a price of ¥25.37 (overvalued). Cautious scenario ¥9.39, optimistic scenario ¥18.24. The calculation is refreshed regularly with new filings.
What is the revenue of Fujian Forecam Optics Co Ltd (688010)?
Fujian Forecam Optics Co Ltd reported trailing-twelve-month revenue of about 672M CNY (latest available figure, as of Sep 13, 2026).
Does Fujian Forecam Optics Co Ltd pay a dividend?
Fujian Forecam Optics Co Ltd currently shows a dividend yield of about 0.36% relative to its recent price (as of Sep 13, 2026).
What is the intrinsic value of Fujian Forecam Optics Co Ltd (688010)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fujian Forecam Optics Co Ltd it is ¥13.48 per share (as of Sep 13, 2026), against a price of ¥25.37. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Fujian Forecam Optics Co Ltd stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 688010 trades above its calculated fair value: price ¥25.37, fair value ¥13.48, a gap of about −47% (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 688010?
No. The price is what the market pays today (¥25.37); the fair value is what the company's own numbers justify (¥13.48). For Fujian Forecam Optics Co Ltd the two are ¥11.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fujian Forecam Optics Co Ltd worth?
The market values Fujian Forecam Optics Co Ltd at about 4.0B CNY (market capitalisation, as of Sep 13, 2026). Per share that is ¥25.37; our models calculate a fair value of ¥13.48 per share.
What do the bullish and bearish scenarios say about 688010?
Our models span a range for Fujian Forecam Optics Co Ltd: cautious scenario ¥9.39, base ¥13.48, optimistic ¥18.24 per share (as of Sep 13, 2026, price ¥25.37). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688010?
Fujian Forecam Optics Co Ltd trades at a price-to-earnings ratio of 253.7 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥13.48 is built from several models across several years. Other multiples: P/B 2.5, P/S 6.5.
How solid is the balance sheet of Fujian Forecam Optics Co Ltd (688010)?
Balance-sheet figures for Fujian Forecam Optics Co Ltd (as of Sep 13, 2026): return on equity 0.7%, debt of 0.12 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 688010 from its 52-week high?
Fujian Forecam Optics Co Ltd trades at ¥25.37, about 47% below its 52-week high of ¥47.84 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of ¥13.48 is for.
Which stocks are comparable to Fujian Forecam Optics Co Ltd?
From the same area (Consumer Cyclical) we also value ANTA Sports Products Limited, Pop Mart International Group, Amer Sports, Inc, Hasbro, 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 Fujian Forecam Optics Co Ltd stock attractive at the current price?
The data as of Sep 13, 2026: price ¥25.37, calculated fair value ¥13.48 (−47%), Quality Score 51/100, from 12 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 688010 calculated?
We run Fujian Forecam Optics Co Ltd through 12 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 ¥13.48, 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 15.8 % above its aggregate fair value. Fujian Forecam Optics Co Ltd 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 should I pay attention to with Fujian Forecam Optics Co Ltd right now?
The price sits above even our optimistic bull case (¥18.24). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥9.39 to ¥18.24) leaves room in how you read the outcome.

Key figures of Fujian Forecam Optics Co Ltd

How large is the market capitalisation of Fujian Forecam Optics Co Ltd (688010)?
The market capitalisation of Fujian Forecam Optics Co Ltd is 4.0B CNY (≈ $600M). 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 Fujian Forecam Optics Co Ltd (688010)?
The price-to-sales ratio of Fujian Forecam Optics Co Ltd is 4.77 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fujian Forecam Optics Co Ltd (688010)?
Earnings per share at Fujian Forecam Optics Co Ltd are ¥0.1000 (price ÷ EPS = P/E 253.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fujian Forecam Optics Co Ltd (688010)?
The dividend yield of Fujian Forecam Optics Co Ltd is 0.4% (payout 90.6%). 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 Fujian Forecam Optics Co Ltd (688010)?
The net margin of Fujian Forecam Optics Co Ltd is 1.9% (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 Fujian Forecam Optics Co Ltd (688010)?
The return on equity (ROE) of Fujian Forecam Optics Co Ltd is 0.7% (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 Fujian Forecam Optics Co Ltd (688010)?
On an EBIT basis the return on assets of Fujian Forecam Optics Co Ltd is −0.2% (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 Fujian Forecam Optics Co Ltd (688010)?
The operating margin of Fujian Forecam Optics Co Ltd is −19.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fujian Forecam Optics Co Ltd (688010)?
Revenue at Fujian Forecam Optics Co Ltd is growing −3.9% versus a year earlier (3y avg −4.7%). 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 Fujian Forecam Optics Co Ltd (688010)?
Earnings per share at Fujian Forecam Optics Co Ltd are growing +31.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Fujian Forecam Optics Co Ltd (688010) generate?
The free cash flow of Fujian Forecam Optics Co Ltd is −39.5M 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 Fujian Forecam Optics Co Ltd (688010) carry?
The net debt of Fujian Forecam Optics Co Ltd is 320M 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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