Great Microwave Technology Co. Ltd. A (688270) fair value: what the stock is really worth
As of Oct 8, 2026: fair value of Great Microwave Technology Co. Ltd. A ¥23.34, price ¥52.92, upside -55.9%, quality 80 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
56‑month range ¥13.88 – ¥154.96 · fair‑value band ¥13.50 – ¥28.28 · the ¥52.92 price screens above the ¥23.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 30, 2026.
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Great Microwave Technology Co., Ltd. engages in the research and development, production, and sale of integrated circuit chips and microsystems in China.
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Great Microwave Technology Co., Ltd. engages in the research and development, production, and sale of integrated circuit chips and microsystems in China. The company offers terminal radio frequency (RF) front-end chips, including terminal power amplifiers, low-noise amplifiers, and RF switches for use in wireless communication terminals, such as ad hoc networks, radios, digital intercoms, and navigation. It also provides Microsystems and modules that used in various phased array payload systems comprising spaceborne, ground-based, vehicle-mounted, and shipborne systems; and RF chips, microsystems, and modules for communications and radar industries. In addition, the company offers RF transceiver chips and ADC/DAC chips used in digital phased array systems, mobile communication systems, satellite internet, and other wireless communication terminals and communication radar systems, as well as power chips. It also provides technical services. The company was founded in 2015 and is headquartered in Hangzhou, China.
Stock analysis
Great Microwave Technology Co. Ltd. A (688270) currently trades at ¥52.92, while our model-based Fair Value estimate is ¥23.34, 55.9% 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 ¥22.48 per share, and 0 of the 26 models we run sit above the ¥52.92 price.
Bear case: the Asset-Based group reads lowest at ¥5.04, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ¥13.50 (bear) to ¥28.28 (bull), the price of ¥52.92 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 80/100 (high quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Great Microwave Technology Co. Ltd. A reported revenue of 432M CNY in FY2025 versus 191M CNY in FY2021, a compound +22.7%/yr. Reported net income was 133M CNY in FY2025, compounding +7.7%/yr from FY2021.
Key figures
Market cap 16.2B CNY (≈ $2.4B) · P/E ratio 110.3 · P/S ratio 34.0 · EPS (TTM) ¥0.4800 · Dividend yield 0.2% · Net margin 30.9% · Return on equity 6.3% · Return on assets (EBIT) 6.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 66% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −41% fair-value upside, at −56%, 688270 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥1.31 to ¥22.48). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥13.50Fair Value ¥23.34Bull ¥28.28
Price ¥52.92 · Upside -55.9%
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 (¥0.3708 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.
Highest evidence
FCF DCF¥6.49¥8.15¥13.3475
Residual Income¥5.81¥5.93¥6.3874
Growth DCF¥6.30¥8.92¥13.1373
All 26 models by family
DCF Models
FCF DCF¥6.49¥8.15¥13.3475
Owner Earnings¥10.84¥19.88¥38.1667
5Y Revenue Exit¥7.52¥10.98¥18.2566
5Y EBITDA Exit¥9.49¥14.95¥25.7168
5Y P/E Exit¥11.18¥22.33¥37.7863
10Y Revenue Exit¥7.09¥12.50¥16.2662
10Y EBITDA Exit¥8.67¥16.64¥31.0260
10Y P/E Exit¥9.88¥20.22¥37.7956
Earnings-Based
Graham-Dodd¥3.02¥21.09¥29.6061
Lynch FV¥10.90¥15.57¥20.2459
PEG = 1.0¥10.90¥15.57¥20.2455
EPV¥6.63¥7.14¥7.5868
Dividend Discount
Gordon GGM¥0.7600¥1.52¥2.3064
DDM Multi-Stage¥0.7600¥1.31¥1.6065
Multiples
P/E Multiple¥9.34¥12.45¥15.5763
P/S Multiple¥5.67¥7.56¥9.4558
P/B Multiple¥5.67¥7.56¥9.4555
EV/EBIT¥11.49¥14.18¥16.8763
EV/EBITDA¥10.45¥12.79¥15.1464
EV/Revenue¥7.49¥9.24¥10.9952
Asset-Based
NCAV (Graham)¥3.76¥5.04¥7.5351
Growth DCF
Growth DCF¥6.30¥8.92¥13.1373
Rev-Margin DCF¥7.97¥12.06¥20.5666
Economic Profit
Residual Income¥5.81¥5.93¥6.3874
ROIC Compounder¥6.63¥7.14¥7.6668
Growth Earnings
Growth-Adj P/E¥15.74¥22.48¥29.2365
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
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
+42.3%
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.
+21.2%
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.
+23.2%
Start year 2020 (pandemic)
Revenue growth 7 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.
+95.2%
’18
’19
’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.
−10.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.8%
Dividend (yield on the price)0.2%
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.51% → 31%
2025 sits 91% 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.
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).
+49.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +46.8% a year for the price.
Compare Great Microwave 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.Semiconductors · 338 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score80 · Top 25%
Fair Value upside−55.9% · Below median
Profitability
Return on equity (TTM)6.3% · Below median
Return on assets3.3% · Above median
Net margin (TTM)32.0% · Top 25%
Operating margin (TTM)27.8% · Top 25%
Growth and dividend
Revenue growth−25.7% · Bottom 25%
Dividend yield (TTM)0.2% · Bottom 25%
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/E (TTM)110.3× · Priciest 25%
P/B6.74× · Priciest 25%
P/S (TTM)34.02× · Priciest 25%
P/FCF261.6× · Priciest 25%
EV/EBITDA96.4× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 88
PAST (return on equity)25· sector 27
HEALTH (low debt)0· sector 95
DIVIDEND (yield)3· sector 20
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). "Great Microwave Technology Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688270
Frequently asked questions
Is Great Microwave Technology Co. Ltd. A (688270) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of ¥23.34 versus a price of ¥52.92, about −56% upside (overvalued).
What is the fair value of 688270?
Our model-based fair value for Great Microwave Technology Co. Ltd. A is ¥23.34 (as of Sep 30, 2026), built from audited fundamentals. The current price: ¥52.92.
What is the quality score of 688270?
Great Microwave Technology Co. Ltd. A has a Quality Score of 80/100. 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 Great Microwave Technology Co. Ltd. A (688270)?
Our model-based price target is the fair value of ¥23.34 (as of Sep 30, 2026) from 26 valuation models. Cautious scenario ¥13.50, optimistic scenario ¥28.28. It is a calculation from audited fundamentals, not an analyst target.
What is the Great Microwave Technology Co. Ltd. A stock forecast for 2026?
Our models put fair value at ¥23.34, about −56% upside versus a price of ¥52.92 (overvalued). Cautious scenario ¥13.50, optimistic scenario ¥28.28. The calculation is refreshed regularly with new filings.
What is the revenue of Great Microwave Technology Co. Ltd. A (688270)?
Great Microwave Technology Co. Ltd. A reported trailing-twelve-month revenue of about 446M CNY (latest available figure, as of Sep 30, 2026).
Does Great Microwave Technology Co. Ltd. A pay a dividend?
Great Microwave Technology Co. Ltd. A currently shows a dividend yield of about 0.16% relative to its recent price (as of Sep 30, 2026).
What growth is priced into Great Microwave Technology Co. Ltd. A (688270)?
For today's price to be fair in a discounted-cash-flow model, Great Microwave Technology Co. Ltd. A would have to grow free cash flow by +49.2 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.2 % per year. As of Sep 30, 2026.
What discount rate (WACC) does the fair value of 688270 use?
Our models discount Great Microwave Technology Co. Ltd. A at 9.1 %: a base by market capitalisation (mid), damped by beta 0.12, 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 Great Microwave Technology Co. Ltd. A that is +49.2 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Great Microwave Technology Co. Ltd. A (688270) delivered so far?
Over the past 5 years revenue at Great Microwave Technology Co. Ltd. A grew +23.2 % a year. The price currently implies +49.2 % 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 Great Microwave Technology Co. Ltd. A (688270) growing?
The median revenue growth in the sector is +10.3 % a year. That is the yardstick for the growth priced into Great Microwave Technology Co. Ltd. A (+49.2 % 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 Great Microwave Technology Co. Ltd. A (688270)?
The free-cash-flow yield on the price is 0.54 %: that much free cash flow Great Microwave Technology Co. Ltd. A produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Great Microwave Technology Co. Ltd. A (688270)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Great Microwave Technology Co. Ltd. A it is ¥23.34 per share (as of Sep 30, 2026), against a price of ¥52.92. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Great Microwave Technology Co. Ltd. A stock overvalued or undervalued in 2026?
As of Sep 30, 2026, 688270 trades above its calculated fair value: price ¥52.92, fair value ¥23.34, a gap of about −56% (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 688270?
No. The price is what the market pays today (¥52.92); the fair value is what the company's own numbers justify (¥23.34). For Great Microwave Technology Co. Ltd. A the two are ¥29.58 per share apart. That gap is exactly why we show both numbers side by side.
How much is Great Microwave Technology Co. Ltd. A worth?
The market values Great Microwave Technology Co. Ltd. A at about 16.2B CNY (market capitalisation, as of Sep 30, 2026). Per share that is ¥52.92; our models calculate a fair value of ¥23.34 per share.
What do the bullish and bearish scenarios say about 688270?
Our models span a range for Great Microwave Technology Co. Ltd. A: cautious scenario ¥13.50, base ¥23.34, optimistic ¥28.28 per share (as of Sep 30, 2026, price ¥52.92). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 688270?
Great Microwave Technology Co. Ltd. A trades at a price-to-earnings ratio of 110.3 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥23.34 is built from several models across several years. Other multiples: P/B 6.7, P/S 34.0, EV/EBITDA 96.4.
How solid is the balance sheet of Great Microwave Technology Co. Ltd. A (688270)?
Balance-sheet figures for Great Microwave Technology Co. Ltd. A (as of Sep 30, 2026): return on equity 6.3%. They feed the Quality Score of 80/100, which measures business quality independently of the share price.
How far is 688270 from its 52-week high?
Great Microwave Technology Co. Ltd. A trades at ¥52.92, about 66% below its 52-week high of ¥154.96 and 32% above the low of ¥40.15 (as of Oct 8, 2026). Distance from the high says nothing about value: that is what the fair value of ¥23.34 is for.
Which stocks are comparable to Great Microwave Technology Co. Ltd. A?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, 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 Great Microwave Technology Co. Ltd. A stock attractive at the current price?
The data as of Sep 30, 2026: price ¥52.92, calculated fair value ¥23.34 (−56%), Quality Score 80/100, 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 688270 calculated?
We run Great Microwave 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 ¥23.34, 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. Great Microwave 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 Great Microwave Technology Co. Ltd. A (688270)?
The closing price on Oct 8, 2026 was ¥52.92. Our model-based fair value is ¥23.34, about −56% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Great Microwave Technology Co. Ltd. A right now?
A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (¥28.28). The favourable scenario is already priced in. A fairly wide model range (¥13.50 to ¥28.28) leaves room in how you read the outcome.
Key figures of Great Microwave Technology Co. Ltd. A
How large is the market capitalisation of Great Microwave Technology Co. Ltd. A (688270)?
The market capitalisation of Great Microwave Technology Co. Ltd. A is 16.2B CNY (≈ $2.4B). 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 Great Microwave Technology Co. Ltd. A (688270)?
The price-to-sales ratio of Great Microwave Technology Co. Ltd. A is 34.0 (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 Great Microwave Technology Co. Ltd. A (688270)?
Earnings per share at Great Microwave Technology Co. Ltd. A are ¥0.4800 (price ÷ EPS = P/E 110.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Great Microwave Technology Co. Ltd. A (688270)?
The dividend yield of Great Microwave Technology Co. Ltd. A is 0.2% (payout 17.7%). 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 Great Microwave Technology Co. Ltd. A (688270)?
The net margin of Great Microwave Technology Co. Ltd. A is 30.9% (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 Great Microwave Technology Co. Ltd. A (688270)?
The return on equity (ROE) of Great Microwave Technology Co. Ltd. A is 6.3% (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 Great Microwave Technology Co. Ltd. A (688270)?
On an EBIT basis the return on assets of Great Microwave Technology Co. Ltd. A is 6.7% (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 Great Microwave Technology Co. Ltd. A (688270)?
The operating margin of Great Microwave Technology Co. Ltd. A is 27.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Great Microwave Technology Co. Ltd. A (688270)?
Revenue at Great Microwave Technology Co. Ltd. A is growing −25.7% versus a year earlier (3y avg +21.2%). 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 Great Microwave Technology Co. Ltd. A (688270)?
Earnings per share at Great Microwave Technology Co. Ltd. A are growing −13.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Great Microwave Technology Co. Ltd. A (688270) hold?
Great Microwave Technology Co. Ltd. A holds more cash than debt, 684M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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