Hygon Information Technology Co. Ltd. A (688041) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Hygon Information Technology Co. Ltd. A ¥30.66, price ¥227, upside -86.5%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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
50‑month range ¥37.65 – ¥370.30 · fair‑value band ¥15.54 – ¥38.32 · the ¥226.80 price screens above the ¥30.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
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Hygon Information Technology Co., Ltd. engages in the research and development of processors, accelerators, and other computing chip products and systems in China. It offers high-performance processors for data centers; mid-range processors for industry customers; and other processors for various scenarios, as well as high-performance domestic processors.
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Hygon Information Technology Co., Ltd. engages in the research and development of processors, accelerators, and other computing chip products and systems in China. It offers high-performance processors for data centers; mid-range processors for industry customers; and other processors for various scenarios, as well as high-performance domestic processors. The company's products are used in various applications, including commercial workstations, artificial intelligence, cloud computing, cloud storage, data center, scientific computing, industrial computing, and safety. Hygon Information Technology Co., Ltd. was founded in 2014 and is based in Beijing, China.
Stock analysis
Hygon Information Technology Co. Ltd. A (688041) currently trades at ¥226.80, while our model-based Fair Value estimate is ¥30.66, 86.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥55.34 per share, and 0 of the 26 models we run sit above the ¥226.80 price.
Bear case: the Asset-Based group reads lowest at ¥6.48, and 26 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥15.54 (bear) to ¥38.32 (bull), the price of ¥226.80 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 61/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hygon Information Technology Co. Ltd. A reported revenue of 14.4B CNY in FY2025 versus 2.3B CNY in FY2021, a compound +57.9%/yr. Reported net income was 2.5B CNY in FY2025, compounding +67.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 773B CNY (≈ $115B) · P/E ratio 193.8 · P/S ratio 34.3 · EPS (TTM) ¥1.17 · Dividend yield 0.1% · Net margin 17.7% · Return on equity 15.0% · Return on assets (EBIT) 7.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −21% fair-value upside, at −86%, 688041 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥2.88 to ¥58.81). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥15.54Fair Value ¥30.66Bull ¥38.32
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 (¥0.7032 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.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+56.9%
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.
+41.0%
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.
+69.7%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+56.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+56.1%
Dividend (yield on the price)0.1%
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.−9% → 25%
2025 sits 102% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more 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).
+76.0%
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.
+41.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +73.1% a year for the price and +39.5% for the forecasts.
Compare Hygon Information Technology Co. Ltd. A with another stock
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.Computer Hardware · 203 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−86.5% · Bottom 25%
Profitability
Return on equity (TTM)15.0% · Above median
Return on assets6.4% · Top 25%
Net margin (TTM)17.0% · Top 25%
Operating margin (TTM)24.0% · Top 25%
Growth and dividend
Revenue growth68.1% · Top 25%
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Computer Hardware median · lower = cheaper
P/E (TTM)193.8× · Priciest 25%
P/B34.36× · Priciest 25%
P/S (TTM)48.27× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 72
PAST (return on equity)60· sector 33
HEALTH (low debt)99· sector 97
DIVIDEND (yield)2· sector 47
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). "Hygon Information Technology Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688041
Frequently asked questions
Is Hygon Information Technology Co. Ltd. A (688041) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of ¥30.66 versus a price of ¥226.80, about −86% upside (overvalued).
What is the fair value of 688041?
Our model-based fair value for Hygon Information Technology Co. Ltd. A is ¥30.66 (as of Sep 29, 2026), built from audited fundamentals. The current price: ¥226.80.
What is the quality score of 688041?
Hygon Information Technology Co. Ltd. A 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 Hygon Information Technology Co. Ltd. A (688041)?
Our model-based price target is the fair value of ¥30.66 (as of Sep 29, 2026) from 26 valuation models. Cautious scenario ¥15.54, optimistic scenario ¥38.32. It is a calculation from audited fundamentals, not an analyst target.
What is the Hygon Information Technology Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥30.66, about −86% upside versus a price of ¥226.80 (overvalued). Cautious scenario ¥15.54, optimistic scenario ¥38.32. The calculation is refreshed regularly with new filings.
What is the revenue of Hygon Information Technology Co. Ltd. A (688041)?
Hygon Information Technology Co. Ltd. A reported trailing-twelve-month revenue of about 16.0B CNY (latest available figure, as of Sep 29, 2026).
Does Hygon Information Technology Co. Ltd. A pay a dividend?
Hygon Information Technology Co. Ltd. A currently shows a dividend yield of about 0.11% relative to its recent price (as of Sep 29, 2026).
What growth is priced into Hygon Information Technology Co. Ltd. A (688041)?
For today's price to be fair in a discounted-cash-flow model, Hygon Information Technology Co. Ltd. A would have to grow free cash flow by +76.0 % per year for five years (discount rate 8.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +69.7 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of 688041 use?
Our models discount Hygon Information Technology Co. Ltd. A at 8.7 %: a base by market capitalisation (large), damped by beta 0.49, country premium for China. 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 Hygon Information Technology Co. Ltd. A that is +76.0 % per year a year over ten years, using the same discount rate (8.7 %) and the same formula as our fair value.
How much growth has Hygon Information Technology Co. Ltd. A (688041) delivered so far?
Over the past 5 years revenue at Hygon Information Technology Co. Ltd. A grew +69.7 % a year. The price currently implies +76.0 % 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 Hygon Information Technology Co. Ltd. A (688041) growing?
The median revenue growth in the sector is +10.0 % a year. That is the yardstick for the growth priced into Hygon Information Technology Co. Ltd. A (+76.0 % 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 Hygon Information Technology Co. Ltd. A (688041)?
The free-cash-flow yield on the price is 0.18 %: that much free cash flow Hygon Information Technology Co. Ltd. A produces per unit of market value. When it exceeds the discount rate of our models (8.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hygon Information Technology Co. Ltd. A (688041)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hygon Information Technology Co. Ltd. A it is ¥30.66 per share (as of Sep 29, 2026), against a price of ¥226.80. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hygon Information Technology Co. Ltd. A stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 688041 trades above its calculated fair value: price ¥226.80, fair value ¥30.66, a gap of about −86% (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 688041?
No. The price is what the market pays today (¥226.80); the fair value is what the company's own numbers justify (¥30.66). For Hygon Information Technology Co. Ltd. A the two are ¥196.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hygon Information Technology Co. Ltd. A worth?
The market values Hygon Information Technology Co. Ltd. A at about 773B CNY (market capitalisation, as of Sep 29, 2026). Per share that is ¥226.80; our models calculate a fair value of ¥30.66 per share.
What do the bullish and bearish scenarios say about 688041?
Our models span a range for Hygon Information Technology Co. Ltd. A: cautious scenario ¥15.54, base ¥30.66, optimistic ¥38.32 per share (as of Sep 29, 2026, price ¥226.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688041?
Hygon Information Technology Co. Ltd. A trades at a price-to-earnings ratio of 193.8 (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 ¥30.66 is built from several models across several years. Other multiples: P/B 34.4, P/S 48.3.
How solid is the balance sheet of Hygon Information Technology Co. Ltd. A (688041)?
Balance-sheet figures for Hygon Information Technology Co. Ltd. A (as of Sep 29, 2026): return on equity 15.0%, debt of 0.02 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 688041 from its 52-week high?
Hygon Information Technology Co. Ltd. A trades at ¥226.80, about 39% below its 52-week high of ¥370.30 and 15% above the low of ¥197.59 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥30.66 is for.
Which stocks are comparable to Hygon Information Technology Co. Ltd. A?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Seagate Technology Holdings, Western Digital Corporation, 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 Hygon Information Technology Co. Ltd. A stock attractive at the current price?
The data as of Sep 29, 2026: price ¥226.80, calculated fair value ¥30.66 (−86%), Quality Score 61/100, from 26 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 688041 calculated?
We run Hygon Information Technology Co. Ltd. A through 26 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 ¥30.66, 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 14.5 % above its aggregate fair value. Hygon Information Technology Co. Ltd. A 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 Hygon Information Technology Co. Ltd. A (688041)?
The closing price on Sep 30, 2026 was ¥226.80. Our model-based fair value is ¥30.66, about −86% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hygon Information Technology Co. Ltd. A right now?
The price sits above even our optimistic bull case (¥38.32). The favourable scenario is already priced in. 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 but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥15.54 to ¥38.32) leaves room in how you read the outcome.
Key figures of Hygon Information Technology Co. Ltd. A
How large is the market capitalisation of Hygon Information Technology Co. Ltd. A (688041)?
The market capitalisation of Hygon Information Technology Co. Ltd. A is 773B CNY (≈ $115B). 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 Hygon Information Technology Co. Ltd. A (688041)?
The price-to-sales ratio of Hygon Information Technology Co. Ltd. A is 34.3 (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 Hygon Information Technology Co. Ltd. A (688041)?
Earnings per share at Hygon Information Technology Co. Ltd. A are ¥1.17 (price ÷ EPS = P/E 193.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hygon Information Technology Co. Ltd. A (688041)?
The dividend yield of Hygon Information Technology Co. Ltd. A is 0.1% (payout 20.5%). 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 Hygon Information Technology Co. Ltd. A (688041)?
The net margin of Hygon Information Technology Co. Ltd. A is 17.7% (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 Hygon Information Technology Co. Ltd. A (688041)?
The return on equity (ROE) of Hygon Information Technology Co. Ltd. A is 15.0% (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 Hygon Information Technology Co. Ltd. A (688041)?
On an EBIT basis the return on assets of Hygon Information Technology Co. Ltd. A is 7.0% (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 Hygon Information Technology Co. Ltd. A (688041)?
The operating margin of Hygon Information Technology Co. Ltd. A is 24.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hygon Information Technology Co. Ltd. A (688041)?
Revenue at Hygon Information Technology Co. Ltd. A is growing +68.1% versus a year earlier (3y avg +41.0%). 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 Hygon Information Technology Co. Ltd. A (688041)?
Earnings per share at Hygon Information Technology Co. Ltd. A are growing +36.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hygon Information Technology Co. Ltd. A (688041) carry?
The net debt of Hygon Information Technology Co. Ltd. A is 559M CNY (fiscal year 2019, ≈ 0.6 yrs of FCF). 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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