Hangzhou Raycloud Technology Co Ltd (688365) fair value: what the stock is really worth
We calculate from audited financials what Hangzhou Raycloud Technology 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.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationStrong overvaluation with only moderate quality.
!Fair value ¥1.70 · Strongly overvalued (−88%)
!Quality 54/100
!Mixed Growth(revenue 5y +2.1 %/yr)
!Loss-making · -1.2% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers(3/13)
!Narrow moat26/100
!Evidence only medium, so the estimate is less certain
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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 13, 2026.
How to read this chart
60‑month range ¥5.38 – ¥34.20 · fair‑value band ¥1.27 – ¥2.22 · the ¥14.24 price screens above the ¥1.70 fair value. Dashed = 300-day average. As of Sep 13, 2026.
Hangzhou Raycloud Technology Co.,Ltd engages in providing e-commerce software services in China and internationally. It offers Software as a Service to e-commerce merchants. The company also provides value-added products and services, such as supporting hardware and operational services.
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Hangzhou Raycloud Technology Co.,Ltd engages in providing e-commerce software services in China and internationally. It offers Software as a Service to e-commerce merchants. The company also provides value-added products and services, such as supporting hardware and operational services. In addition, it provides super store manager, express assistant, prosperous store transactions, super express, follow-up order software. The company was founded in 2009 and is based in Hangzhou, China.
Stock analysis
Hangzhou Raycloud Technology Co Ltd (688365) currently trades at ¥14.24, while our model-based Fair Value estimate is ¥1.70, implying the stock looks roughly 737.5% overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥1.82 per share, and 0 of the 12 models we run sit above the ¥14.24 price.
Bear case: the Multiples group reads lowest at ¥0.3100, and 12 of the 12 models stay below the price. Evidence for this calculation is medium.
Scenario range: ¥1.27 (bear) to ¥2.22 (bull), the price of ¥14.24 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 54/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hangzhou Raycloud Technology Co Ltd reported revenue of 565M CNY in FY2025 versus 545M CNY in FY2021, a compound +0.9%/yr. Reported net income was −26.4M CNY in FY2025.
Key figures
Market cap 7.0B CNY (≈ $1.0B) · P/S ratio 11.8 · EPS (TTM) ¥−0.0200 · Dividend yield 0.1% · Net margin −4.7% · Return on equity −0.8% · Return on assets (EBIT) −5.7% · Operating margin 3.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −16% fair-value upside, at −88%, 688365 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.1500 to ¥1.88). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥1.27Fair Value ¥1.70Bull ¥2.22
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.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.
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.39/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.3%
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.
+4.6%
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.
+2.1%
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.
+8.9%
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Profit margin (trend) ⓘ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.
17.5% (2020) → −4.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
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).
+52.0%
Yearly growth needed for the next five years to justify today's price.
Compare Hangzhou Raycloud Technology Co Ltd 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 · 698 stocks
Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Profitability
Return on assets0% · Below median
Net margin (TTM)−1% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth23% · Top 25%
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.06× · Above median
Valuation Multiplesvs Software - Application median · lower = cheaper
P/B1.10× · Cheaper than median
P/S (TTM)1.76× · Cheaper than median
P/FCF21.3× · Pricier than median
EV/EBITDA45.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 26
FUTURE (revenue growth)100· sector 36
PAST (return on equity)0· sector 12
HEALTH (low debt)97· sector 98
DIVIDEND (yield)1· sector 28
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). "Hangzhou Raycloud Technology Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/688365
Frequently asked questions
Is Hangzhou Raycloud Technology Co Ltd (688365) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of ¥1.70 versus a price of ¥14.24, about −88% upside (overvalued).
What is the fair value of 688365?
Our model-based fair value for Hangzhou Raycloud Technology Co Ltd is ¥1.70 (as of Sep 13, 2026), built from audited fundamentals. The current price: ¥14.24.
What is the quality score of 688365?
Hangzhou Raycloud Technology Co Ltd has a Quality Score of 54/100. 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 Hangzhou Raycloud Technology Co Ltd (688365)?
Our model-based price target is the fair value of ¥1.70 (as of Sep 13, 2026) from 12 valuation models. Cautious scenario ¥1.27, optimistic scenario ¥2.22. It is a calculation from audited fundamentals, not an analyst target.
What is the Hangzhou Raycloud Technology Co Ltd stock forecast for 2026?
Our models put fair value at ¥1.70, about −88% upside versus a price of ¥14.24 (overvalued). Cautious scenario ¥1.27, optimistic scenario ¥2.22. The calculation is refreshed regularly with new filings.
What is the revenue of Hangzhou Raycloud Technology Co Ltd (688365)?
Hangzhou Raycloud Technology Co Ltd reported trailing-twelve-month revenue of about 590M CNY (latest available figure, as of Sep 13, 2026).
Does Hangzhou Raycloud Technology Co Ltd pay a dividend?
Hangzhou Raycloud Technology Co Ltd currently shows a dividend yield of about 0.07% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Hangzhou Raycloud Technology Co Ltd (688365)?
For today's price to be fair in a discounted-cash-flow model, Hangzhou Raycloud Technology Co Ltd would have to grow free cash flow by +52.0 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.1 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of 688365 use?
Our models discount Hangzhou Raycloud Technology Co Ltd at 11.5 %: a base by market capitalisation (small), damped by beta 0.87, 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 Hangzhou Raycloud Technology Co Ltd that is +52.0 % per year a year over ten years, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has Hangzhou Raycloud Technology Co Ltd (688365) delivered so far?
Over the past 5 years revenue at Hangzhou Raycloud Technology Co Ltd grew +2.1 % a year. The price currently implies +52.0 % 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 Hangzhou Raycloud Technology Co Ltd (688365) growing?
The median revenue growth in the sector is +8.0 % a year. That is the yardstick for the growth priced into Hangzhou Raycloud Technology Co Ltd (+52.0 % 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 Hangzhou Raycloud Technology Co Ltd (688365)?
The free-cash-flow yield on the price is 0.78 %: that much free cash flow Hangzhou Raycloud Technology Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hangzhou Raycloud Technology Co Ltd (688365)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hangzhou Raycloud Technology Co Ltd it is ¥1.70 per share (as of Sep 13, 2026), against a price of ¥14.24. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Hangzhou Raycloud Technology Co Ltd stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 688365 trades above its calculated fair value: price ¥14.24, fair value ¥1.70, a gap of about −88% (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 688365?
No. The price is what the market pays today (¥14.24); the fair value is what the company's own numbers justify (¥1.70). For Hangzhou Raycloud Technology Co Ltd the two are ¥12.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hangzhou Raycloud Technology Co Ltd worth?
The market values Hangzhou Raycloud Technology Co Ltd at about 7.0B CNY (market capitalisation, as of Sep 13, 2026). Per share that is ¥14.24; our models calculate a fair value of ¥1.70 per share.
What do the bullish and bearish scenarios say about 688365?
Our models span a range for Hangzhou Raycloud Technology Co Ltd: cautious scenario ¥1.27, base ¥1.70, optimistic ¥2.22 per share (as of Sep 13, 2026, price ¥14.24). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hangzhou Raycloud Technology Co Ltd (688365)?
Balance-sheet figures for Hangzhou Raycloud Technology Co Ltd (as of Sep 13, 2026): return on equity −0.8%, debt of 0.06 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 688365 from its 52-week high?
Hangzhou Raycloud Technology Co Ltd trades at ¥14.24, about 58% below its 52-week high of ¥34.20 and 12% above the low of ¥12.76 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.70 is for.
Which stocks are comparable to Hangzhou Raycloud Technology Co Ltd?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, 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 Hangzhou Raycloud Technology Co Ltd stock attractive at the current price?
The data as of Sep 13, 2026: price ¥14.24, calculated fair value ¥1.70 (−88%), Quality Score 54/100, 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 688365 calculated?
We run Hangzhou Raycloud Technology 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 ¥1.70, 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. Hangzhou Raycloud Technology 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 is the share price of Hangzhou Raycloud Technology Co Ltd (688365)?
The closing price on Sep 18, 2026 was ¥14.24. Our model-based fair value is ¥1.70, about −88% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hangzhou Raycloud Technology Co Ltd right now?
The price sits above even our optimistic bull case (¥2.22). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Hangzhou Raycloud Technology Co Ltd
How large is the market capitalisation of Hangzhou Raycloud Technology Co Ltd (688365)?
The market capitalisation of Hangzhou Raycloud Technology Co Ltd is 7.0B CNY (≈ $1.0B). 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 Hangzhou Raycloud Technology Co Ltd (688365)?
The price-to-sales ratio of Hangzhou Raycloud Technology Co Ltd is 11.8 (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 Hangzhou Raycloud Technology Co Ltd (688365)?
Earnings per share at Hangzhou Raycloud Technology Co Ltd are ¥−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hangzhou Raycloud Technology Co Ltd (688365)?
The dividend yield of Hangzhou Raycloud Technology Co Ltd is 0.1%. 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 Hangzhou Raycloud Technology Co Ltd (688365)?
The net margin of Hangzhou Raycloud Technology Co Ltd is −4.7% (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 Hangzhou Raycloud Technology Co Ltd (688365)?
The return on equity (ROE) of Hangzhou Raycloud Technology Co Ltd is −0.8% (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 Hangzhou Raycloud Technology Co Ltd (688365)?
On an EBIT basis the return on assets of Hangzhou Raycloud Technology Co Ltd is −5.7% (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 Hangzhou Raycloud Technology Co Ltd (688365)?
The operating margin of Hangzhou Raycloud Technology Co Ltd is 3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hangzhou Raycloud Technology Co Ltd (688365)?
Revenue at Hangzhou Raycloud Technology Co Ltd is growing +23.4% versus a year earlier (3y avg +4.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net cash does Hangzhou Raycloud Technology Co Ltd (688365) hold?
Hangzhou Raycloud Technology Co Ltd holds more cash than debt, 35.5M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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