Beijing Kingsoft Office Software In (688111) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Beijing Kingsoft Office Software In stock ¥260, price ¥232, upside +12.3%, quality 74 out of 100. Rating: undervalued. 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. As of Nov 6, 2026.
How to read this chart
60‑month range ¥157.19 – ¥516.16 · fair‑value band ¥146.65 – ¥338.54 · the ¥232.00 price screens below the ¥260.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Beijing Kingsoft Office Software, Inc. provides office software products and services in China and internationally.
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It offers WPS Office for Windows, Mac, Android, iOS, Linux, HarmonyOS, Enterprise PC version, and Enterprise Mobile Version; cloud office products comprising Kingsoft Docts, WPS Collaboration, WPS Email, WPS Calendar, and WPS Meeting; and other products, including WPS AIPPT, WPS Browser Assistant, WPS PDF Standalone Version, WPS PDF Professional Edition, Kingsoft PowerWord, Kingsoft PowerWord Enterprise Edition, WPS Dark Horse Proofreader, and Kingsoft Typing Tutor.
The company was founded in 1988 and is based in Beijing, China. Beijing Kingsoft Office Software, Inc. operates as a subsidiary of Kingsoft Wps Corporation Limited.
Stock analysis
Beijing Kingsoft Office Software In (688111) currently trades at ¥232.00, while our model-based Fair Value estimate is ¥260.43, implying the stock looks roughly 11% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥151.22 per share, and 0 of the 26 models we run sit above the ¥232.00 price.
Bear case: the Economic Profit group reads lowest at ¥36.38, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥146.65 (bear) to ¥338.54 (bull), the price of ¥232.00 sits inside 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 74/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Beijing Kingsoft Office Software In reported revenue of 5.9B CNY in FY2025 versus 3.3B CNY in FY2021, a compound +15.9%/yr. Reported net income was 1.8B CNY in FY2025, compounding +15.3%/yr from FY2021.
Key figures
Market cap 107B CNY (≈ $16.1B) Large · P/E ratio 35.1 · P/S ratio 15.7 · EPS (TTM) ¥6.61 · Dividend yield 0.5% · Net margin 48.2% · Return on equity 24.2% · Return on assets (EBIT) 10.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 79 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 12%, 688111 screens cheaper than that median.
Fair Value models
Bear¥146.65Fair Value ¥260.43Bull¥338.54
Price ¥232.00 · Upside +12.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥4.55 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.Coverage ⓘCoverage = 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+15.8%
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.
+15.1%
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.
+21.3%
Start year 2020 (pandemic). Over 10 years: +31.2% a year
Revenue growth 11 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.
+31.9%
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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.
+16.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.9%
Dividend (yield on the price)0.5%
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.15.9% vs 34.9%, 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.41% → 33%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what 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).
+19.0%
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.
+16.7%
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 +17.0% a year for the price and +14.8% for the forecasts.
AI conclusion: Embedding AI into WPS products supports steady office software revenue growth as main strength, while thin evidence across categories leaves overall business quality unclear.
Main risk: Generative AI agents might handle complex office tasks directly via natural language instructions, reducing the need for traditional document editing and formatting software such as WPS.
Bull case: By building on its 38-year document expertise and enterprise knowledge integration, the company could turn WPS Comate into a preferred secure AI hub that works alongside general models and sustains subscriber growth.
Bear case: If general AI agents mature and big-tech platforms dominate workflows, demand for standalone office software could decline sharply, squeezing revenue from both individual and enterprise subscriptions.
Kingsoft Office keeps embedding AI into WPS products, with fresh capabilities added to the international Linux edition. Office software revenue has risen steadily while new AI agents target both individual and enterprise users. Will these features lock in more subscribers over time or invite stronger competition from global AI tools?
Compare Beijing Kingsoft Office Software In 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.Software - Application · 632 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside+12.3% · Above median
Profitability
Return on equity (12 months)24.2% · Top 25%
Return on assets10.2% · Top 25%
Net margin (12 months)48.2% · Top 25%
Operating margin (12 months)24.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)16.1% · Above median
Dividend yield (12 months)0.5% · Bottom 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
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). "Beijing Kingsoft Office Software In Fair Value". https://www.fairvalue-calculator.com/stock/688111
Frequently asked questions
Is Beijing Kingsoft Office Software In (688111) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ¥260.43 versus a price of ¥232.00, about +12% upside (undervalued).
What is the fair value of 688111?
Our model-based fair value for Beijing Kingsoft Office Software In is ¥260.43 (as of Nov 6, 2026), built from audited fundamentals. The current price: ¥232.00.
What is the quality score of 688111?
Beijing Kingsoft Office Software In has a Quality Score of 74/100. 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 Beijing Kingsoft Office Software In (688111)?
Our model-based price target is the fair value of ¥260.43 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario ¥146.65, optimistic scenario ¥338.54. It is a calculation from audited fundamentals, not an analyst target.
What is the Beijing Kingsoft Office Software In stock forecast for 2026?
Our models put fair value at ¥260.43, about +12% upside versus a price of ¥232.00 (undervalued). Cautious scenario ¥146.65, optimistic scenario ¥338.54. The calculation is refreshed regularly with new filings.
What is the revenue of Beijing Kingsoft Office Software In (688111)?
Beijing Kingsoft Office Software In reported trailing-twelve-month revenue of about 6.8B CNY (latest available figure, as of Nov 6, 2026).
Does Beijing Kingsoft Office Software In pay a dividend?
Beijing Kingsoft Office Software In currently shows a dividend yield of 0.54% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Beijing Kingsoft Office Software In (688111)?
For today's price to be fair in a discounted-cash-flow model, Beijing Kingsoft Office Software In would have to grow free cash flow by +19.0 % 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 +21.3 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 688111 use?
Our models discount Beijing Kingsoft Office Software In at 8.7 %: a base by market capitalisation (large), damped by beta 0.52, 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 Beijing Kingsoft Office Software In that is +19.0 % 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 Beijing Kingsoft Office Software In (688111) delivered so far?
Over the past 5 years revenue at Beijing Kingsoft Office Software In grew +21.3 % a year. The price currently implies +19.0 % 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 Beijing Kingsoft Office Software In (688111) growing?
The median revenue growth in the sector is +11.4 % a year. That is the yardstick for the growth priced into Beijing Kingsoft Office Software In (+19.0 % 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 Beijing Kingsoft Office Software In (688111)?
The free-cash-flow yield on the price is 2.33 %: that much free cash flow Beijing Kingsoft Office Software In 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 Beijing Kingsoft Office Software In (688111)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Beijing Kingsoft Office Software In it is ¥260.43 per share (as of Nov 6, 2026), against a price of ¥232.00. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Beijing Kingsoft Office Software In stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 688111 trades below its calculated fair value: price ¥232.00, fair value ¥260.43, a gap of about +12% (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 688111?
No. The price is what the market pays today (¥232.00); the fair value is what the company's own numbers justify (¥260.43). For Beijing Kingsoft Office Software In the two are ¥28.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Beijing Kingsoft Office Software In worth?
The market values Beijing Kingsoft Office Software In at about 107B CNY (market capitalisation, as of Nov 6, 2026). Per share that is ¥232.00; our models calculate a fair value of ¥260.43 per share.
What do the bullish and bearish scenarios say about 688111?
Our models span a range for Beijing Kingsoft Office Software In: cautious scenario ¥146.65, base ¥260.43, optimistic ¥338.54 per share (as of Nov 6, 2026, price ¥232.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688111?
Beijing Kingsoft Office Software In trades at a price-to-earnings ratio of 35.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥260.43 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2025), reported earnings, FY2025 ex one-offs: 111.0. Other multiples: P/B 8.4, P/S 15.7, EV/EBITDA 59.5.
How solid is the balance sheet of Beijing Kingsoft Office Software In (688111)?
Balance-sheet figures for Beijing Kingsoft Office Software In (as of Nov 6, 2026): return on equity 24.2%. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is 688111 from its 52-week high?
Beijing Kingsoft Office Software In trades at ¥232.00, about 39% below its 52-week high of ¥379.99 and 17% above the low of ¥198.88 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥260.43 is for.
Which stocks are comparable to Beijing Kingsoft Office Software In?
From the same area (Technology) we also value SAP SE, Shopify Inc, Salesforce, 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 Beijing Kingsoft Office Software In stock attractive at the current price?
The data as of Nov 6, 2026: price ¥232.00, calculated fair value ¥260.43 (+12%), Quality Score 74/100, 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 688111 calculated?
We run Beijing Kingsoft Office Software In 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 ¥260.43, 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 15.5% above its aggregate fair value. Beijing Kingsoft Office Software In currently trades 11% 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 Beijing Kingsoft Office Software In (688111)?
The closing price on Nov 6, 2026 was ¥232.00. Our model-based fair value is ¥260.43, about +12% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Beijing Kingsoft Office Software In right now?
A fairly wide model range (¥146.65 to ¥338.54) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Beijing Kingsoft Office Software In
How large is the market capitalisation of Beijing Kingsoft Office Software In (688111)?
The market capitalisation of Beijing Kingsoft Office Software In is 107B CNY (≈ $16.1B). 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 Beijing Kingsoft Office Software In (688111)?
The price-to-sales ratio of Beijing Kingsoft Office Software In is 15.7 (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 Beijing Kingsoft Office Software In (688111)?
Earnings per share at Beijing Kingsoft Office Software In are ¥6.61 (price ÷ EPS = P/E 35.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Beijing Kingsoft Office Software In (688111)?
The dividend yield of Beijing Kingsoft Office Software In is 0.5% (payout 18.9%). 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 Beijing Kingsoft Office Software In (688111)?
The net margin of Beijing Kingsoft Office Software In is 48.2% (last twelve months). 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 Beijing Kingsoft Office Software In (688111)?
The return on equity (ROE) of Beijing Kingsoft Office Software In is 24.2% (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 Beijing Kingsoft Office Software In (688111)?
On an EBIT basis the return on assets of Beijing Kingsoft Office Software In is 10.5% (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 Beijing Kingsoft Office Software In (688111)?
The operating margin of Beijing Kingsoft Office Software In is 24.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Beijing Kingsoft Office Software In (688111)?
Revenue at Beijing Kingsoft Office Software In is growing +16.1% versus a year earlier (3y avg +15.1%). 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 Beijing Kingsoft Office Software In (688111)?
Earnings per share at Beijing Kingsoft Office Software In are growing −72.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Beijing Kingsoft Office Software In (688111) hold?
Beijing Kingsoft Office Software In holds more cash than debt, 657M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 6, 2026